On June 8, Atlanta-based Cadence Bank, a subsidiary of Houston-based Cadence Bancorporation, announced a strategic business alliance with Unity National Bank of Houston, the only Black-owned banking institution in Texas and one of two Black minority depository institutions with a national charter. The cooperative alliance brings growth capital to Unity National Bank, strengthening its ability to make commercial loans and deliver other financial solutions to businesses, individuals and families in minority and underserved communities in greater Houston and Atlanta.
Through this mentor/bank relationship, Cadence Bank will provide certain advisory services to Unity National Bank, including advice on information technology management; strategies for the design, development and implementation of new banking products and services; recommendations for talent recruitment, associate training and development; and guidance on loan originations.
“We share Unity National Bank’s commitment to revitalizing minority and underserved communities and value the strategic alliance we have formed, knowing that collectively we can make a stronger impact,” says Hank Holmes, president of Cadence Bank. “It’s a privilege to work together, and we look forward to delivering positive progress in meeting our communities’ banking needs.”
“We appreciate Cadence Bank’s commitment to ensuring our underserved communities have the support and resources needed to make a meaningful impact,” says Laurie Vignaud, president and CEO of Unity National Bank. “The COVID-19 pandemic has disproportionately impacted our minority and low- to moderate-income communities. Supporting our small businesses is needed now more than ever, and our collaboration will help us provide the much-needed support our communities are asking for.”
Established in 1887, Cadence Bank is a leading regional banking franchise with $18.8 billion in assets as of March 31, 2021, and 98 branch locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Established in 1963 as Riverside National Bank, Unity National Bank operates branches in Houston and Missouri City, Texas, as well as Atlanta, Georgia.
