On April 25, Tupelo, Mississippi-based Cadence Bank announced the signing of a definitive merger agreement with Industry-based Industry Bancshares Inc., the bank holding company for 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 merger will expand Cadence Bank’s Texas presence in growing markets within the state. Under the terms of the agreement, Cadence Bank will pay between $20 million and $60 million in cash for all of Industry Bancshares’ outstanding common stock. The transaction is targeted to close during the second half of 2025.
Established in 1911, Industry Bancshares operates 27 full-service branches across Central and Southeast Texas. As of March 31, 2025, the company reported total assets of $4.4 billion, total loans of $1.1 billion and total deposits of $4.5 billion.
“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,” says Dan Rollins, chair and CEO of Cadence Bank. “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.”
Upon completion of the transaction, Doak Hartley, Michelle Hodge, Mike Mueller, Brent Jones, Gary Durrenberger, Kyle Holloway, Lisa Moeller and Mike Kalina are expected to continue in key roles in their respective communities with the combined organization.
“This merger represents an exciting new chapter for our customers and communities,” notes Carl J. Chaney, executive chair of Industry Bancshares. “Cadence shares our deep commitment to building strong relationships and doing what is right for our customers and communities.”
Established in 1886, Cadence Bank is a $50 billion regional financial services company with more than 350 locations spanning the South and Texas. Cadence Bank maintains corporate offices in Houston and Tupelo.
