Houston-based Cadence Bank is acquiring Industry, Texas-based Industry Bancshares..The $50 billion Cadence Bank is expected to pay between $20 million and $60 million in cash for Industry Bancshares’ outstanding common stock. As of March 31, Industry Bancshares has $4.4 billion in assets, $4.5 billion in total deposits and $1.1 billion in loans. Industry Bancshares has more than two-dozen branches in Central and Southeast Texas. It is the holding company for six banks: Bank of Brenham, Citizens State Bank, Fayetteville Bank, Industry State Bank, The First National Bank of Bellville and The First National Bank of Shiner. The deal is expected to close during the second half of this year. “We are all deeply focused on taking care of our customers and the communities we serve,” said Cadence Bank Chair and CEO Dan Rollins. “Because we operate in very similar markets across Texas and the South, we understand the needs of these local economies and can bring expanded product offerings and increased lending opportunities to fuel future growth.”
