Cadence Financial Corporation Acquisition by Community Bancorp Approved by Federal Reserve

Cadence Financial Corporation CADE, the parent company of Cadence Bank, N.A., today announced that the Federal Reserve has approved the acquisition of the Company by Community Bancorp LLC a Delaware limited liability company. The merger transaction is expected to close on or about March 1, 2011. Under terms of the acquisition agreement, Cadence shareholders will receive $2.50 in cash per Cadence common share. Cadence will be the surviving corporation in the merger transaction, with its identity, charter and personnel in tact, and become a wholly owned subsidiary of CBC.