Alston & Bird represented Texas-based Industry Bancshares and its six subsidiary banks in their acquisition by Cadence Bank, a Mississippi-based financial services company. Under the agreement, Cadence Bank will pay between $20 million and $60 million in cash for Industry Bancshares’ outstanding common stock.
Representing Industry Bancshares was an Alston & Bird team led by senior associate J.P. Mahoney, partner Sandy Brown, senior associate John Hobgood, and associates Andrea Cooper and Jerome Felton (Financial Services); partners Blake MacKay and Mike Stevens and associate Dakota Sneed (Employee Benefits & Executive Compensation).partner Scott Harty and senior associate John Harden (Federal & International Tax); and partner Brett Coburn (Labor & Employment).