State Bank, based in Atlanta, has 31 branches across Georgia. The new company will have around 100 banks in Texas, Georgia, Florida, Alabama, Tennessee and Mississippi.
Cara Jackson, a spokesperson for State Bank, said the two companies expect to close the deal by the end of this year.
When that happens, she says, their banks will change name to Cadence Bank.
The company expects that all of the current State Banks will remain in business.
She said customers can expect improved services, such an expanded multi-state ATM network.