Cadence Bk - CADE STOCK NEWS

Cadence Bank (NYSE: CADE) has announced a new share repurchase program authorized by its Board of Directors. The program allows for the purchase of up to 10 million shares of common stock, pending Federal Reserve approval, and will run through December 31, 2025.

The shares may be acquired through open market transactions at prevailing prices, private negotiations, or other means in compliance with federal securities laws. The program's implementation details, including timing, volume, and price range, will be determined by management based on factors such as capital position, liquidity, financial performance, stock price, market conditions, and regulatory requirements.

The Board retains discretion to extend, modify, suspend, or discontinue the program at any time, with no commitment to repurchase any specific number of shares.

Cadence Bank (NYSE: CADE) has announced its latest dividend declarations following a board of directors meeting on April 23, 2025. The bank declared a quarterly cash dividend of $0.275 per share of common stock, which will be paid on July 1, 2025, to shareholders of record as of June 13, 2025.

Additionally, the board approved a quarterly cash dividend of $0.34375 per share for Series A Preferred Stock, scheduled for payment on May 20, 2025, to shareholders of record as of May 5, 2025.

Cadence Bank (NYSE: CADE) reported strong Q1 2025 financial results with net income of $130.9 million, or $0.70 per diluted share. The bank achieved improved metrics including:

- Return on average assets increased to 1.15%
- Net interest margin improved to 3.46%
- Generated net organic loan growth of $309.9 million (3.7% annualized)
- Maintained strong capital position with 12.4% Common Equity Tier 1 Capital

The bank's total deposits were $40.3 billion, with loans at $34.1 billion. Credit quality remained stable with net charge-offs at 0.27% of average loans. The efficiency ratio improved to 57.6%. Additionally, CADE received all regulatory approvals for its merger with First Chatham Bank, expected to close May 1, 2025, expanding its presence in Savannah, Georgia.

Cadence Bank (NYSE: CADE) has announced the adjournment of its special meeting of shareholders until April 25, 2025, to gather additional preferred shareholder votes for Proposal 2. The proposal would authorize the Board to implement stock repurchases under Regulation H.

The Board has declared a special cash dividend of $0.34375 per share of Series A Preferred Stock (NYSE: CADE/PA), contingent upon Proposal 2 receiving two-thirds approval from preferred stockholders. If approved, the dividend would be paid on May 7, 2025, to shareholders of record as of April 30, 2025.

Common shareholders have already approved all four proposals on December 30, 2024, while preferred shareholders have approved Proposal 4. The record date for voting eligibility remains November 8, 2024. The reconvened virtual Special Meeting will be held at 9:00 a.m. Central Time.

Cadence Bank (NYSE: CADE) has scheduled its first quarter 2025 earnings release and webcast. The bank will disclose its Q1 2025 financial results on Monday, April 21, 2025, after market close. The earnings webcast, featuring management's conference call with analysts, is set for Tuesday, April 22, 2025, at 10:00 AM CT.

The interactive session will be accessible to the public through the bank's investor relations website at https://ir.cadencebank.com/events. While analysts will participate directly in the discussion with management, other interested parties can listen to the live broadcast. An archived version of the conference call will remain available at the same web address.

Cadence Bank (NYSE: CADE) has secured all regulatory approvals for its planned merger with FCB Financial Corp., the parent company of First Chatham Bank. The merger is set to close on May 1, 2025, pending customary closing conditions.

First Chatham Bank, a Savannah, Georgia-based community bank with over two decades of service, reported the following unaudited figures as of December 30, 2024:

• Total Assets: $589 million
• Total Loans: $326 million
• Total Deposits: $507 million

Federal Home Loan Bank of Dallas (FHLB Dallas), along with Cadence Bank and Citizens National Bank, has awarded a $9,000 Partnership Grant Program (PGP) grant to Housing Economic Resources & Education (HERE) in Hattiesburg, Mississippi.

The funds will support homeownership education, supplies, and outreach efforts. HERE will use the grant to hire a consultant for achieving HUD-certified counseling agency status and provide one-on-one counseling for homebuyers, particularly focusing on moderate to low-income individuals and those with nontraditional credit scores.

The grant is part of FHLB Dallas's PGP initiative, where member institutions contribute $500 to $5,000 to nonprofits, with FHLB Dallas matching at a 5:1 ratio, providing up to $25,000 per member. In 2024, FHLB Dallas and participating members awarded $1.2 million in total PGP grants.

Cadence Bank (NYSE: CADE) announced the adjournment of its special meeting of shareholders until March 26, 2025. The adjournment aims to allow additional time to solicit proxies from preferred shareholders for Proposal 2, which would authorize the Board to implement stock repurchases under Regulation H.

Common shareholders have already approved Proposals 1, 2, 3, and 4 at the December 30, 2024 meeting, while preferred shareholders approved Proposal 4. The record date for voting eligibility remains November 8, 2024. Previously submitted valid proxies will continue to be valid for the reconvened meeting.

The reconvened virtual Special Meeting will be held at 8:45 a.m. Central Time, accessible through meetnow.global/MLVC22S. Preferred shareholders who haven't voted on Proposal 2 can contact Okapi Partners for assistance.

Cadence Bank (NYSE: CADE) has announced a definitive merger agreement with FCB Financial Corp., the holding company for First Chatham Bank, a Savannah-based community bank. The transaction, valued at approximately $103.6 million, involves Cadence issuing 2,300,000 shares of common stock plus $23.1 million in cash.

First Chatham Bank, founded in 2002, operates eight branches across Greater Savannah and reported $590 million in total assets, $329 million in total loans, and $510 million in total deposits as of September 30, 2024. The merger will expand Cadence's presence in the rapidly growing Savannah market and coastal Georgia communities.

The deal is expected to close during the third quarter of 2025, subject to regulatory approval and FCB Financial Corp. shareholders' approval. Following the completion, First Chatham Bank President & CEO Ken Farrell will serve as Cadence Bank Division President - Southeast Georgia.