Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.
Cadence first discussed a deal with the Atlanta target four years ago. But negotiations picked up steam once it was clear State Bank had other suitors.
Charter One wanted to sell itself quickly because it feared valuations had peaked, and CenterState was able to beat other potential suitors to the punch.
Brand Group in Georgia was mulling a public offering but it opted to test the waters as a seller first. That decision led to one of the biggest deals announced this year.
