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Press release from Business Wire

Cadence Bank to Launch New Discover® Debit Program

<p class='bwalignc'> <i>Signature debit program delivers superior value to bank, its clients</i> </p>

Monday, January 14, 2013

Cadence Bank to Launch New Discover® Debit Program09:00 EST Monday, January 14, 2013 RIVERWOODS, Ill. & BIRMINGHAM, Ala (Business Wire) -- Discover has joined with Cadence Bank to create the new Cadence Bank Debit Card powered by Discover Debit. The new card will be issued to all of the bank's debit cardholders during the second quarter of 2013. The new Cadence Bank Debit Card powered by Discover Debit. (Photo: Business Wire) Cadence recently completed a comprehensive evaluation of its debit options in response to the changing financial services landscape and determined an affiliation with Discover made the most strategic sense. “Evolving consumer needs are redefining how clients utilize traditional payment options. By enhancing our signature debit program, we are making it easier for our cardholders to move, manage and spend their money,” said Debbie Innes, executive vice president of Retail Banking at Cadence. “The affiliation with Discover is an important step for Cadence that will help us deliver relevant solutions to clients in a highly competitive market. We will be focused on innovative product enhancements that keep pace with our clients' needs.” Discover Debit provides convenience and security, with broad national acceptance as well as leading fraud-prevention and data-security tools to help mitigate cardholders' exposure to debit card fraud. Through the affiliation with Discover, Cadence receives a competitive interchange rate structure and the flexibility to customize the front of the card with a focus on the bank's brand. “We are providing Cadence with an exceptional signature debit alternative to entrenched industry models,” said Dave Schneider, senior vice president of debit strategies for Discover, and president of PULSE, which manages Discover Debit for its parent company. “With Discover Debit, Cadence cardholders can expect nationwide merchant acceptance at more than 8.5 million locations as well as around-the-clock reliability from our network. The bank also benefits from Discover Debit's superior value proposition for issuers, including highly competitive interchange revenue and lower network fees.” Cadence also is participating in Buzz Points™ through PULSE® Loyalty Edge. The multi-faceted loyalty program incorporates merchant rewards and aims to drive spending to local merchants in the communities the bank serves. This allows Cadence to build local commercial-client relationships and create value for all involved parties. Prior to issuing the new Cadence Debit Card to its clients, Cadence conducted a successful pilot test of the card with its employees in November and December 2012. Feedback from the pilot will help ensure a seamless transition for Cadence clients. “We made this change to benefit our clients, our businesses and our employees,” added Rick Claypoole, director of product management and marketing at Cadence. “We see Discover Debit as a smarter solution that will create better opportunities for each and every one of our cardholders and deliver superior value to our bank.” About Discover Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, online savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading debit/ATM networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com. About Cadence Bank Cadence Bank, N.A., based in Birmingham, Ala., is a $5.4 billion bank that operates more than 100 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Cadence serves commercial and consumer clients with a full range of innovative banking and financial solutions designed to keep pace with their lives. These products and services include commercial and consumer banking, treasury management, small business banking, international services, specialized industry lending, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer loans, mortgages, home equity lines and loans, and credit cards. Backed by 126 years of financial expertise, Cadence is a sound source of capital for companies operating within its six-state footprint and specializes in industry-leading treasury management services. Cadence Bank, N.A. and its affiliate companies, Linscomb & Williams and Town & Country℠ Insurance Agency, are wholly owned subsidiaries of Cadence Bancorp, LLC, based in Houston, Texas. Additional information about Cadence and its complete line of banking and financial solutions can be found at cadencebank.com. Cadence Bank, N.A. Member FDIC, Equal Housing Lender. Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130114005404/en/ Discover/PULSEPatty Sendelbach, APR, 832-214-0395800-420-2122psendelbach@pulsenetwork.comorCadence Bank, N.A.Danielle Kernell, 713-871-4051Mobile: 713-392-7709danielle.kernell@cadencebank.com