Marlene Barkheimer, FDIC Advisory Committee Misuse, Alabama 2023

Related Federal Cases

Lottery Winner’s ‘Ice’ Deal Lands Him 21 Years · Texas
SouthernCare Inc, Hospice Fraudulent Claims, Birmingham AL, 2023 · Alabama
Marlene Barkheimer, FDIC Advisory Committee Appointment, Washington… · Louisiana
Unbanked, Inc. Ordered to Halt Crypto Scam, Washington D.C., 2023 · Georgia
Claude J. Bowman, Banker Appointed to MDI Subcommittee, Washington … · Georgia

Table of Contents

BancorpSouth Bank’s Antitrust Scandal

A shocking revelation has emerged from the financial underworld as BancorpSouth Bank and Cadence Bank have agreed to sell seven branches in northeastern Mississippi, with more than $446 million in deposits, to resolve antitrust concerns arising from BancorpSouth’s planned acquisition of Cadence Bank.

The masterminds behind this illicit scheme, BancorpSouth Bank and Cadence Bank, have been caught red-handed by the authorities, and their ill-gotten gains are being forced back into the system. The parties will divest the seven branches located in Aberdeen, West Point, and Starkville, Mississippi, as part of the agreement.

According to sources, the assets that must be divested include all the deposits and loans associated with the seven branches, as well as all physical assets. The companies have also agreed to suspend existing non-compete agreements with branch managers and loan officers located in Aberdeen, West Point, and Starkville, Mississippi, and will not enter into new non-compete agreements with those managers and officers.

The proposed merger is subject to the final approval of the Federal Deposit Insurance Corporation (FDIC). The authorities have advised the FDIC that they will not challenge the merger provided that the parties divest branches in certain areas of overlap and agree to the commitments described above.

The financial details of this scandal are as follows: BancorpSouth Bank, headquartered in Tupelo, Mississippi, has approximately $25.8 billion in assets, $21.2 billion in deposits, and 325 full-service branches across nine states in the southeastern United States. Cadence Bank N.A., headquartered in Atlanta, Georgia, has approximately $18.8 billion in assets and $16.1 billion in deposits.

The list of branches to be divested is as follows:

Branch Details:

Branch	Address	City	County	State	Zip Code
Aberdeen Main	128 E. Commerce Street	Aberdeen	Monroe	MS	39730
Aberdeen Hwy 45	302 Hwy 145 North	Aberdeen	Monroe	MS	39730
West Point Main	657 Commerce Street	West Point	Clay	MS	39773
West Point Hwy 45	215 Hwy 45 South	West Point	Clay	MS	39773
Starkville Crossing	818 Hwy 12 West	Starkville	Oktibbeha	MS	39759
Starkville Russell St	793 Russell Street	Starkville	Oktibbeha	MS	39759
Starkville University	606 Hwy 12 East	Starkville	Oktibbeha	MS	39759