The nation’s second-largest bank-owned insurance coverage brokerage, BXS Insurance coverage, is altering its model title to Cadence Insurance coverage, the corporate introduced.
The BXSI title is altering however the persons are not, CEO Markham McKnight stated in a information launch.
The rebranding comes a couple of months after Mississippi-based BancorpSouth merged with Cadence Financial institution, headquartered in Houston, Texas. To win U.S. Division of Justice approval for the financial institution merger, the banks agreed to dump seven financial institution branches in northeast Mississippi late final yr. Bancorp adopted the Cadence title, which is traded on New York Inventory Trade.
BXS Insurance coverage has been listed within the prime 10% of brokers within the nation, based mostly on whole income, the corporate stated. It has 30 workplaces in eight states and brokers business insurance coverage, surety, and advantages. Cadence Financial institution has 400 department places within the South, Midwest and Texas.
The title change ought to start in July, pending regulatory approval, the corporate stated.
Subjects
Mergers & Acquisitions
Texas
Mississippi
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