In 2009, a Houston-based bank holding company called Community Bancorp, LLC (CBC) was created to continue to help communities and businesses grow amidst the global financial crisis. Veteran Houston banking leader Paul B. Murphy, Jr. joined as Chief Executive Officer in 2010. Alongside a board that represents some of the best minds in banking, he successfully raised $1.0 billion in new capital to invest in the U.S. banking industry. These investors represent some of the best known pension and university endowments in the country. To date, Cadence Bancorp, LLC, as the holding company is now known, has invested $875 million of the original $1.0 billion.