HOUSTON--(BUSINESS WIRE)--
Cadence Bancorporation (NYSE: CADE) today announced changes to its
employee benefits and compensation as a result of federal tax reform
legislation.
In an announcement to its employees, the company shared it will
introduce the following changes effective April 1, 2018:
-
An increase in the company’s matching 401k contribution
-
An increase in the company’s contribution to employee healthcare costs
-
A pay increase for non-exempt, non-commissioned associates to a base
wage of no less than $15 an hour
-
A merit pool increase for eligible associates
In addition, Cadence executives announced an employee stock purchase
plan with a 15% discount, pending approval by Cadence Bancorporation
shareholders.
“Our employees deliver exceptional service and value to our clients
every day, and we want to reward them for their dedication,” said Paul
B. Murphy, Jr., chairman and chief executive officer of Cadence
Bancorporation. “Investing in our employees allows us to attract and
retain top talent, which directly correlates to sound operating and
financial performance and a better return for our shareholders.”
About Cadence Bancorporation
Cadence Bancorporation (NYSE: CADE) is a $11 billion in assets regional
bank holding company headquartered in Houston, Texas. Through its
affiliates, Cadence operates 65 locations in Alabama, Florida,
Mississippi, Tennessee and Texas as of December 31, 2017, and provides
corporations, middle-market companies, small businesses and consumers
with a full range of innovative banking and financial solutions.
Services and products include commercial and business banking, treasury
management, specialized lending, commercial real estate, foreign
exchange, wealth management, investment and trust services, financial
planning, retirement plan management, business and personal insurance,
consumer banking, consumer loans, mortgages, home equity lines and
loans, and credit cards. Clients have access to leading-edge online and
mobile solutions, interactive teller machines, and 55,000 ATMs. The
Cadence team of 1,200 associates is committed to exceeding customer
expectations and helping their clients succeed financially. Cadence
Bank, N.A., Cadence Insurance, and Linscomb & Williams are direct or
indirect subsidiaries of Cadence Bancorporation.

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Cadence Bancorporation
Media
contact:
Danielle Kernell, 713-871-4051
danielle.kernell@cadencebank.com
or
Investor
relations contact:
Valerie Toalson, 713-871-4103 or 800-698-7878
vtoalson@cadencebancorporation.com
Source: Cadence Bancorporation