Welcome to our dedicated page for Cadence Bank news (Ticker: CADE), a resource for investors and traders seeking the latest updates and insights on Cadence Bank stock.
Cadence Bank (NYSE: CADE), headquartered in Houston, Texas, is a prominent regional banking company with approximately $50 billion in assets. Operating through its subsidiary, Cadence Bank, the company maintains a robust network of over 350 branches across Alabama, Florida, Mississippi, Tennessee, Texas, and the broader South. Cadence Bank offers a complete suite of banking and financial solutions tailored for consumers, businesses, and corporations. These services include consumer banking, mortgages, home equity lines and loans, credit cards, commercial banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, and retirement plan management.
The company prides itself on understanding customer needs and maintaining strong relationships throughout all phases of their financial lives. This approach distinguishes Cadence Bank as a refreshing alternative in the banking sector. With innovative products and methods, Cadence Bank aims to add significant value to both commercial and personal customers. Their hyper-focused customer service team ensures smooth interactions and relationships, guided by top-tier professionals with proven success records.
Cadence Bank is committed to community improvement, enhancing the quality of life in the regions they serve. Notably, the bank has executed several strategic initiatives for long-term growth, such as the completion of the sale of its insurance operations, Cadence Insurance, to Arthur J. Gallagher & Co. for $904 million. This transaction allows Cadence Bank to reinvest in its core banking business, supporting both short- and long-term strategic goals.
Despite the challenges of economic fluctuations, Cadence Bank has consistently demonstrated strong financial performance, maintaining stable credit quality metrics and a robust capital base. This is evidenced by recent quarterly results showing improved operating performance, disciplined growth, and meaningful improvements in key performance metrics.
Cadence Bank's corporate structure embodies respect, diversity, inclusion, and belonging, both within their workplace and the communities they serve. This dedication to social responsibility and community engagement further solidifies their role as a leading regional banking franchise.
On April 26, 2023, Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of
Cadence Bank (NYSE: CADE) reported its financial performance for the first quarter of 2023, achieving a net income of $74.3 million ($0.40 per diluted share) compared to $112.6 million ($0.60) in Q1 2022. Adjusted net income increased slightly to $124.4 million ($0.68 per diluted share). The bank witnessed deposit growth of $449.8 million (4.7% annualized) and organic loan growth of $933.3 million (12.5% annualized). However, net interest revenue declined to $354.3 million, down 1.42% from the last quarter. Noninterest revenue dropped to $74.1 million, primarily due to a $51.3 million loss on securities sales. The bank announced plans to consolidate 35 branches, projecting annual cost savings of $15-20 million.
Cadence Bank (NYSE: CADE) is set to announce its first-quarter 2023 earnings on April 24, 2023, after market close. A subsequent earnings webcast will occur on April 25, 2023, at 10:00 a.m. CT, allowing analysts and the public to engage in a Q&A session. Cadence Bank operates approximately $50 billion in assets and serves customers through around 400 branch locations across the South and Texas, offering a broad range of financial services, including consumer banking, commercial banking, and wealth management. The bank emphasizes a culture of respect, diversity, and inclusion.
Cadence Bank (NYSE: CADE) reported strong financial results for 2022, achieving a net income of $453.7 million, or $2.46 per diluted share. Adjusted net income reached $542.3 million, or $2.94 per diluted share. The bank generated organic loan growth of $3.5 billion, reflecting a 12.9% increase, and improved its net interest margin to 3.15%. For Q4 2022, net income stood at $95.6 million, with adjusted net income of $142.9 million. The bank maintained stable credit quality metrics, with non-performing loans down to 0.36% of total loans. Cadence also completed its merger integration, enhancing operational efficiency.
Cadence Bank (NYSE: CADE) announced an increase in its quarterly cash dividend to $0.235 per share, up 6.8% from $0.22. This dividend is payable on April 3, 2023, to shareholders of record by March 15, 2023. Additionally, a dividend of $0.34375 per share of Series A Preferred Stock will be paid on February 21, 2023, to shareholders of record by February 3, 2023. Cadence Bank will release its fourth-quarter financial results on January 30, 2023.
Cadence Bank (NYSE: CADE) is set to release its fourth-quarter 2022 earnings on January 30, 2023, after market close. A webcast for analysts will occur on January 31, 2023, at 10:00 a.m. CT. With approximately $50 billion in assets and nearly 400 branches across the South and Texas, Cadence offers a broad range of financial services. The bank emphasizes its commitment to diversity and inclusion in its operations and community engagement.
Cadence Bank (NYSE: CADE) announced a new share repurchase program authorizing the buyback of up to 10 million shares, effective January 3, 2023, and expiring December 29, 2023. Previously, Cadence repurchased 6.1 million shares under an expiring program. Purchases will occur at prevailing market prices and may vary based on the company's financial performance, liquidity, and market conditions. This initiative aims to enhance shareholder value and reflects the bank's solid capital position.
FAQ
What is the current stock price of Cadence Bank (CADE)?
What is the market cap of Cadence Bank (CADE)?
What services does Cadence Bank offer?
Where is Cadence Bank headquartered?
How extensive is Cadence Bank's branch network?
What was the impact of the sale of Cadence Insurance?
What are Cadence Bank's core values?
How does Cadence Bank ensure customer satisfaction?
What financial achievements has Cadence Bank recently reported?
How does Cadence Bank engage with the community?
What are Cadence Bank's future strategic goals?
What is Cadence Bank's market symbol and where can I find the latest news?
