“One of our key initiatives is focused on supporting our customers with new products.  We are launching a new mobile banking service that includes an iPhone app and a quick and easy texting feature.  We are also extending our customer service hours at our telephone/customer service center until 8:00 p.m. Central, 9:00 p.m. Eastern time, to expand our support after regular business hours.

“We are making substantial investments in new technology to support Cadence’s future growth.  Over the past 90 days, we have committed to invest over $750,000 in IT improvements. The new investments are supporting a new teller operating system that will improve our support of customers at the point of contact, a new wire transfer system and enhanced treasury management products.  We plan to target small businesses and consumers with these new products as part of our increased focus on customer service and convenience.

“We are renewing our focus on employee training to assure that our customers are provided memorable service that differentiates Cadence from our competition.  This week, we launched ‘Cadence Way Training’ to assure that our team is equipped with the skills and knowledge to deliver memorable service. We believe our program will establish a new benchmark for customer service in our markets and will be an important part in strengthening our customer relationships.

“Cadence will be broadening its commitment to business customers with a new emphasis on commercial lending.  Commercial loans have performed well for Cadence during the recession and we want to increase our focus on providing the capital to businesses in our communities.  As part of this program, we hired Teresa Hemphill as our new Chief Credit Officer.  She joins Cadence with 28 years of experience as a credit administrator with a much larger regional bank and will bring focus on growing our commercial loan portfolio in a safe and sound fashion.

“In addition, we will continue our community support of economic development partnerships.  Many of our senior bankers have taken leadership roles in various economic development organizations and our contributions to those organizations in dollars and volunteerism will continue.  We are also expanding our funding for affordable housing for low-to-moderate income households across our markets.  We have charged our market Presidents to seek out community partners where we can make a commitment to fund affordable housing through mortgage pools and grants.  We believe these initiatives will be an important part in building better communities where we serve.

 “As part of our new programs, I am pleased to announce that Cadence will be hiring new personnel to support these initiatives. Many of these new jobs will be created in the Golden Triangle.  Over the past 90 days, we have hired 17 team members in positions that strengthen our operations, accounting, technology and risk management functions.  CBC plans to leverage our current center in Starkville as the operational headquarters for expansion in the Southeast.  We are gratified by CBC’s endorsement and look forward to supporting CBC as they make additional bank acquisitions,” concluded Mr. Abernathy.

Cadence Names New Board and Senior Managers

Cadence announced that Paul B. Murphy, Jr., Frank Cox, Stan Levy and John McWhorter were elected as directors of Cadence Financial Corporation.  Mark A. Abernathy will continue as a director of Cadence.  Mr. Murphy is President of CBC, Mr. Cox is Chief Information Officer of CBC, Mr. Levy is CBC’s Chief Risk and Credit Officer, and Mr. McWhorter is CBC’s Chief Financial Officer. 

The new Board elected Paul B. Murphy as Chairman. Mark A. Abernathy, the Company’s President was named Chief Executive Officer, Richard T. Haston will continue as Cadence’s Chief Financial Officer, and Teresa Hemphill was named Chief Credit Officer. 

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