Cadence Financial Corporation Announces Retirement of CEO

Cadence Financial Corporation CADE, the parent company of Cadence Bank, N.A., today announced that L.F. Mallory, Jr. plans to retire as Chairman and CEO effective immediately following the consummation of the sale of the Company to Community Bancorp LLC through a merger transaction. Following Mr. Mallory's retirement, Mark Abernathy, the Company's President, is expected to be elected CEO and Paul B. Murphy, Jr., CBC's President, is expected to be elected Chairman of the Board of Cadence Financial Corporation. The merger transaction is expected to close the first week in March 2011.