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Kroll says State Bank deal potentially credit positive for Cadence Bancorp.

Kroll Bond Rating Agency views Houston-based Cadence Bancorp.'s proposed merger with Atlanta-based State Bank Financial Corp. as potentially credit positive for Cadence in the medium term.

The rating agency said the stock-for-stock deal will expand Cadence's footprint, strengthen its deposit profile and increase its product offerings.

The deal, valued at about $1.4 billion, is expected to close in the fourth quarter.

The agency added that it does not rate State Bank.