Will the BancorpSouth-Cadence Merger of Equals Work Out for Shareholders?

The wave of regional bank consolidation continued recently with the announcement that BancorpSouth (NYSE:BXS) and Cadence Bancorporation (NYSE:CADE) plan to join hands in a merger of equals. The deal will create a $44-billion-asset bank in the South with a presence in Texas, Georgia, Mississippi, and Alabama. Cadence had been rumored to be contemplating a sale, but the merger of equals component creates an interesting dynamic, and the market so far has not exactly taken to the deal. Let's see what the merger means for shareholders and if it will work out long-term.