Cadence Bank of Tupelo, Miss., plans to close 35 branches - about 8.5% of its network in 2023. The $48.7B-asset bank, formed through the merger of Cadence and BancorpSouth, had 412 branches in mid-2022, according to the Federal Deposit Insurance Corp.
“In order to best optimize and strengthen our branch network, we have made this decision,” Dan Rollins, bank Chairman/CEO, said in a media-shared statement.
“While branches remain an integral part of the customer choice, constantly evolving innovation ... has provided customers with more ... ways to access banking services (in person, online, mobile, telephone, ATMs and ITMs), he added.
The report did not specify where all the closures will take place, but two NE Mississippi locations were identified: Columbus at Lehmberg Road and Tupelo at Presley Heights. (The Bank Slate 05/11/23 & Daily Journal 05/12/23) Cadence Bank closing 35 branches across US, including 1 in Tupelo | Business | djournal.com
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