Mississippi-based Cadence Combines Insurance, HR Subsidiaries

Cadence Bank, found in parts of the South and Midwest, has merged two of its own subsidiaries to provide customers with a wider range of financial, human resource and insurance services, the company announced.

Cadence Bank is a commercial bank headquartered in Tupelo, Mississippi. It was formerly known as Bankcorp South, and now has offices in 10 states. The firm said that, effective March 1, its subsidiaries, BXS Insurance and Altera Payroll & Insurance will be combined.

BXSI already is the second-largest bank-owned insurance broker in the U.S., and the merger will allow human resources, employee benefits, banking, health insurance, property casualty insurance, risk management, payroll, taxes and other functions all in one place.