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Cadence Bank Investor Relations BancorpSouth Bank and Cadence Bancorporation to combine in transformational merger Creates a Premier Regional Banking Franchise across Texas and the Southeast Merger creates the 5th largest bank with headquarters in nine - state footprint Financially compelling transaction for both companies ' shareholders BancorpSouth - Cadence Merger Presentation TUPELO , Miss . and HOUSTON , April 12 , 2021 / PRNewswire / -- BancorpSouth Bank ( NYSE : BXS ) ( " BancorpSouth " ) and Cadence Bancorporation ( NYSE : CADE ) ( " Cadence " ) , the parent company of Cadence Bank , N.A. , jointly announced today that they have entered into a merger agreement under which the companies will combine in an all - stock merger with a total market value of more than $ 6 billion to create a leading Texas and Southeastern regional bank . Under the terms of the merger agreement , which was unanimously approved by the Boards of Directors of both companies , Cadence shareholders will receive 0.70 shares of BXS for each share of CADE they own . Additionally , the agreement allows for a one - time special cash dividend to CADE shareholders of $ 1.25 per share in conjunction with the closing of the merger . BancorpSouth shareholders will own approximately 55 % and Cadence shareholders will own approximately 45 % of the combined company . The company will combine the aesthetics of both brands and logos and operate as Cadence Bank . The bank will have dual headquarters in Tupelo , MS and Houston , TX , with operations centers in Tupelo , MS and Birmingham , AL as well as specialty sites in Macon , GA ; Starkville , MS ; and Houston , TX . Dan Rollins will be the Chairman and Chief Executive Officer and Paul Murphy will serve as Executive Vice Chairman of the combined company . The board of directors will initially be comprised of 20 directors - 11 from BancorpSouth and nine from Cadence . Dan Rollins commented : " Cadence has built an impressive commercial banking franchise that when combined with the strengths of our team at BancorpSouth seems to be a perfect fit . This strategic merger will allow us to expand our reach and offerings with minimal overlap in our existing branch network . Culturally speaking , our mission and values align really well together . Mergers are all about people , and what's important to note here is that our leadership teams are in sync . By joining forces , it's easy to see that we'll be able to make a significant impact on our customers and communities while driving long - term shareholder value . " " I am thrilled to partner with BancorpSouth , " said Paul Murphy . " I have great respect for the franchise they have built over the last 145 years , beginning in my home state of Mississippi . The BancorpSouth community banking franchise is top tier and complements Cadence's expertise in middle - market