Welcome to our dedicated page for Cadence Bk news (Ticker: CADE), a resource for investors and traders seeking the latest updates and insights on Cadence Bk stock.
Cadence Bank (NYSE: CADE) delivers regional banking solutions through corporate services, community branches, and mortgage operations across Southern U.S. markets. This page provides centralized access to official company announcements and financial news, offering stakeholders critical insights into strategic developments.
Investors and analysts will find timely updates on earnings reports, merger activity, leadership changes, and regulatory filings. The curated collection includes press releases covering product launches, community initiatives, and operational milestones that shape CADE's market position.
Content is organized to highlight key banking sector developments including commercial lending trends, wealth management expansions, and technology integrations. Users can track both corporate-level decisions and local market impacts through verified sources.
Bookmark this page for streamlined monitoring of CADE's financial trajectory. Combine regular visits with SEC filings and market analysis tools for comprehensive investment research.
Cadence Bank has announced a transition from its on-premises core banking platform to a FIS-hosted solution, aimed at enhancing operational efficiencies as part of its modernization efforts. This cloud migration will enable Cadence to scale its offerings and adapt to changing customer expectations. With over
Cadence Bank (NYSE: CADE) has successfully completed its merger with BancorpSouth Bank, making it the sixth-largest bank in its nine-state region with $48 billion in assets. The merger enhances the bank's competitive positioning by broadening its branch network and service offerings, while retaining the existing brands until a full system integration is anticipated in late 2022. The combined entity aims to provide relationship-focused services, creating opportunities for growth and efficiency.
Avid Bioservices will be added to the S&P SmallCap 600 on October 29, 2021, replacing Cadence Bancorporation, which is being acquired by BancorpSouth Bank. This transition indicates a positive shift for Avid Bioservices as it moves into a more prominent index, potentially attracting more investment and improving liquidity. The acquisition of Cadence Bancorporation is expected to close around the same date, pending final conditions.
BancorpSouth Bank (NYSE: BXS) reported a net income of $70.4 million for Q3 2021, translating to $0.65 per diluted share. Total pre-tax pre-provision net revenue reached $90.1 million, while total deposits saw an increase of $722.2 million, representing a 12.2% annualized growth. The bank experienced organic net loan growth of $121.6 million (3.3% annualized). Credit quality metrics remained strong with a negative provision for credit losses of $7.0 million. Additionally, the merger with Cadence Bancorporation is set to close on October 29, 2021, potentially creating a $48 billion institution.
Cadence Bancorporation (NYSE: CADE) reported a net income of $84.0 million or $0.67 per share for Q3 2021, down from $101.3 million or $0.80 per share in Q2 2021 and up from $49.3 million or $0.39 per share a year earlier. The adjusted net income was $83.4 million. The bank is poised for growth after its merger with BancorpSouth, expected to close on October 29, 2021. Key financial metrics included a Common Equity Tier 1 ratio of 14.5%, and a decrease in criticized loans by 29% from the previous quarter, indicating improved credit quality.
Cadence Bancorporation (NYSE: CADE) has announced a one-time special cash dividend of
Cadence Bancorporation (NYSE: CADE) announced a one-time, special cash dividend of $1.25 per share for Class A Common Stockholders. The dividend is payable on or about October 29, 2021 to stockholders of record by the close of business on October 25, 2021. This special dividend, totaling approximately $153 million, is part of the merger agreement with BancorpSouth Bank, set to close on October 31, 2021. The merger aims to enhance long-term value for shareholders.
Cadence Bancorporation (NYSE: CADE) announced a quarterly cash dividend of $0.158 per share, equating to an annualized rate of $0.632 per share. This dividend will be disbursed on or about October 22, 2021, to stockholders on record as of October 18, 2021. Cadence Bank, with assets totaling $18.7 billion as of June 30, 2021, operates 99 branches across six states and offers a comprehensive range of financial services, ensuring clients have access to advanced banking solutions.
The First Bancshares, Inc. (NASDAQ: FBMS) has signed an agreement to acquire seven Cadence Bank branches in Northeast Mississippi. This acquisition is part of a divestiture due to the merger between BancorpSouth (NYSE: BXS) and Cadence Bancorporation (NYSE: CADE), which was prompted by a DOJ Antitrust review. The First will assume approximately $450 million in deposits for a $1 million premium, and acquire about $42 million in loans at par value. The deal is expected to close in Q4 2021, subject to regulatory approvals.
Cadence Bancorporation (NYSE: CADE) has reached settlements with the U.S. Department of Justice (DOJ) and the Office of the Comptroller of the Currency (OCC) over historical allegations of fair lending law violations in Houston, Texas. The Bank will pay a $3 million penalty to the Treasury and invest $4.17 million in a loan subsidy fund. Additionally, a full-service branch will be opened in a majority-Black and Hispanic neighborhood. The Bank aims to strengthen its community outreach and continue its commitment to compliance and diversity.
