Cadence acquires Shiner bank, several others in area
Acquisition part of July 1 purchase of its bank holding company
Cadence Bank earlier this month announced the successful acquisition of Industry Bancshares Inc., the bank holding company for the First National Bank of Shiner and five other area banks.
Other banks included in the acquisition are Industry State Bank, the First National Bank of Bellville, Fayetteville Bank, Bank of Brenham and Citizens State Bank (the one based in Buffalo, Texas, which is not affiliated with the Jackson County banks by the same name, nor the Somerville-based Citizens State Bank, which has locations in Brenham, Burton, Caldwell, Deanville, Snook and Navasota).
In addition to its downtown Shiner location, the First National Bank of Shiner operates several subsidiary banks in the area, including Cuero National Bank, Flatonia National Bank, Goliad National Bank and Gonzales National Bank.
Industry Bancshares was merged into Cadence Bank (which publicly trades on the New York Stock Exchange as CADE) effective July 1, after receiving all required regulatory and shareholder approvals.
“We are pleased to have received regulatory approval and completed our acquisition of Industry Bancshares Inc. so quickly,” Cadence Bank chairman and CEO Dan Rollins said in a prepared statement regarding the merger.
“Industry and its subsidiaries have deep roots in Texas—where we have a solid presence and a keen understanding of local economies— making this a seamless fit,” he said. “With our strong balance sheet and broad array of products and services, we’re excited about the growth opportunities for their people, customers and communities.”
Customers of Industry Bancshares’s subsidiaries will not experience any immediate changes to their banking experience because of the merger, Rollins said, and they can continue using their existing branches, checks, deposit slips, debit card(s), online and mobile banking and other banking services.
Customers will receive information regarding changes that may impact their accounts and services this fall as Cadence works toward operational integration in the fourth quarter of 2025, he added.
The combination of the two companies creates a meaningful franchise with financial solutions offered at more than 380 branches across Texas, Arkansas, Missouri, Louisiana, Mississippi, Alabama and Georgia, providing more than 400 ATM and live teller locations throughout that footprint.
The merger also provides stability and consistency to Industry’s banking operations and customer experience, and increased liquidity to support lending in Industry’s markets.
“This merger came together rapidly because of the strong alignment between our two companies and our dedication to the communities we serve,” Rollins said. “We are very proud of our team for their swift actions to move this transaction to completion, allowing us to quickly begin serving these customers and communities. We are grateful for the support and responsiveness of our regulators who helped make this process smooth and efficient.”
Industry Bancshares reported total assets of $4.4 billion, total loans of $1.1 billion and total deposits of $4.5 billion as of March 31.
The $52 billion-asset Cadence said in an April 25 release that it would pay between $20 million and $60 million in cash for the acquisition, based on Industry’s equity capital at closing. It was also noted in that same April 25 release that the merger would resolve any previous regulatory concerns tied to securities portfolios at any of its subsidiary banks.
“This merger represents an exciting new chapter for our customers and communities,” Industry’s executive chairman Carl Chaney said. “Cadence shares our deep commitment to building strong relationships and doing what is right for our customers and communities. With their scale, resources and relationship-driven approach, this merger will allow continued personal service and trusted expertise our customers depend on.”
Cadence Bank is a more than $52 billion regional financial services company committed to helping people, companies and communities prosper, their website boasts.
As a well-capitalized public company with investment-grade ratings from S&P Global and Moody’s, Cadence Bank offers comprehensive banking, investment, trust and mortgage products and services to meet the needs of individuals, businesses and corporations. Accolades include being recognized as one of the nation’s best employers by Forbes and U.S. News & World Report, and as a 2025 America’s Best Banks by Forbes.
Cadence maintains corporate offices in both Houston and Tupelo, Mississippi, and has served its banking customers for nearly 150 years.