Cadence Bancorporation Announces Changes to Employee Benefits and Compensation
15 February 2018 - 4:06AM
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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version on businesswire.com: http://www.businesswire.com/news/home/20180214006067/en/
Cadence
BancorporationMedia contact:Danielle Kernell,
713-871-4051danielle.kernell@cadencebank.comorInvestor relations
contact:Valerie Toalson, 713-871-4103 or
800-698-7878vtoalson@cadencebancorporation.com
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