Houston’s Cadence sells insurance business to Florida firm

Just a few weeks after announcing that it will acquire State Bank Financial Corp., Cadence Bancorporation (NYSE: CADE) has sold its insurance arm.

Tampa, Florida-based Baldwin Krystyn Sherman Partners, or BKS-Partners, closed on a deal June 1 to purchase Houston-based Cadence Insurance, an affiliate of Houston-based holding company Cadence Bancorporation, according to a June 4 press release. Terms of the deal were not disclosed.

Cadence Insurance, which has more than 2,000 clients and 40 employees,…

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