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In 1886, the banking operation was moved to Tupelo, Mississippi and the company was renamed to Bank of Lee County, Mississippi. Soon after, it was renamed to the Bank of Tupelo. The bank was renamed to Bank of Mississippi in 1966. In 1997, the bank changed its name to BancorpSouth. [2] In October 2021, the bank changed its name to Cadence Bank.
In 2010, Murphy, along with a group of investors, raised $1 billion to acquire Cadence Bank and other small banks such as Encore Bank in Houston and Superior Bank, which lead to the formation of Cadence Bancorporation. [3] [10] He served as the chairman and CEO of Cadence Bank until its merger with BancorpSouth Bank in October 2021.
Cadence Bank was founded as the First National Bank of Aberdeen, on April 30, 1887.In 1972, it changed its name to the First National Bank of Monroe County in 1972. In March 1974, it merged with Peoples Bank in Starkville, Mississippi, becoming the National Bank of Mississippi in May of that year.
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Cadence Bank Arena, formerly Tupelo Coliseum, BancorpSouth Center and BancorpSouth Arena is a 10,000-seat multi-purpose arena, near downtown Tupelo, Mississippi, named for the locally based Cadence Bank, a large multi-state commercial banking company.
The bank was established on December 18, 1998, by a group of entrepreneurial bankers who were able to raise $80 million in start-up capital, the most for a new financial institution at that time.