Cadence Bank merging with Industry Bancshares, Inc.

Bank of Brenham will become part of Cadence Bank, which announced Friday it will pay between $20 and $60 million in cash to merge with its parent company, Industry Bancshares.

Industry is a holding company with $4.4 billion in assets that also owns Citizens State Bank (Buffalo, Texas), Fayetteville Bank, Industry State Bank, First National Bank of Bellville and First National Bank of Shiner, information stated.

Cadence said it hopes to close the deal in the second half of 2025.

“In addition to regulatory and shareholder approvals and the satisfaction of other customary closing conditions, the closing of the transaction is also conditioned upon Industry Bancshares’s equity capital meeting a minimum amount at closing,” a statement from Cadence said.

At the end of March, Industry reported it had total loans of $1.1 billion and total deposits of $4.5 billion.

Cadence assured banking customers of Industry’s subsidiaries they will continue to receive the same “exemplary service” they have come to expect from the bankers they know and trust.

Further, a statement from Cadence also specified that, upon completion of the transaction, Gary Durrenberger, Doak Hartley, Michelle Hodge, Mike Mueller, Brent Jones, Kyle Holloway, Lisa Moeller and Mike Kalina are expected to continue in key roles in their respective communities with the combined organization

Durrenberger is president of Bank of Brenham.

Industry Bancshares, which was founded in 1911 with headquarters in Industry approximately 15 miles southwest of Brenham, operates 27 full-services branches across Central and Southeast Texas.

Cadence Bank traces its own roots to Verona, Mississippi, 1876, growing from a small, privately owned bank housed in the back of a hardware store to the $50 billion regional financial services company with more than 350 locations spanning the South and Texas that it is today.

Cadence is publicly traded on the New York Stock Exchange under the symbol CADE.

It has corporate offices in both Houston and Tupelo, and has won accolades on the 2025 America’s Best [100] Banks by Forbes, which ranked it 94th, with total assets at $49.2 billion, an 18.6 percent return on equity, 0.75 percent non-performing assets, 12.2 percent common equity tier and -13.2 percent operating revenue growth.

It was also recognized by Forbes as one of the nation’s best employers in a joint Forbes and U.S. News & World Report.

“What makes this alliance so impactful is that Cadence Bank’s community banking foundation aligns well with the community focus of Industry Bancshares’ six bank subsidiaries,” Chairman and Cadence Bank CEO Dan Rollins said. “We are all deeply focused on taking care of our customers and the communities we serve.

“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.”

The merger received unanimous approval from the board of directors of both Cadence Bank and Industry Bancshares, information states.

“This merger represents an exciting new chapter for our customers and communities,” Industry Bancshares Executive Chairman Carl J. Chaney said. “Cadence shares our deep commitment to building strong relationships and doing what is right for our customers and communities.”