Cadence Bank Announces 2025 Share Repurchase Program

Rhea-AI Summary

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.

Positive

• Authorization to repurchase up to 10 million shares indicates confidence in company's financial position
• Share buyback program could potentially increase earnings per share and shareholder value
• Flexible implementation allows management to optimize timing and pricing of repurchases

Negative

• Program requires Federal Reserve approval before implementation
• No commitment to actually repurchase any shares
• Capital used for buybacks reduces funds available for other strategic investments

HOUSTON and TUPELO, Miss., April 25, 2025 /PRNewswire/ -- Cadence Bank's (NYSE: CADE) (Cadence) Board of Directors authorized a new share repurchase program (the "Repurchase Program") allowing the company to purchase up to an aggregate of 10 million shares of Cadence's common stock. The Repurchase Program is subject to and will be effective upon approval from the Federal Reserve, and will expire on December 31, 2025.

Under the Repurchase Program, Cadence's shares may be purchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The Repurchase Program may be extended, modified, amended, suspended or discontinued at any time at the discretion of Cadence's Board of Directors and does not commit Cadence to repurchase shares of its common stock. With respect to repurchases made pursuant to the Repurchase Program, the actual means of purchase, the timing of purchases, the target number of shares per purchase and the maximum price or range of prices per purchase will be determined by management in its discretion, and will depend upon a number of factors, including Cadence's capital position, liquidity, financial performance and alternate uses of capital, the market price of Cadence's common stock, general market and economic conditions, and applicable legal and regulatory requirements.

To learn more, visit CadenceBank.com.

About Cadence Bank  

Cadence Bank (NYSE: CADE) is a $50 billion regional financial services company committed to helping people, companies and communities prosper. With more than 350 locations spanning the South and Texas, Cadence offers comprehensive banking, investment, trust and mortgage products and services to meet the needs of individuals, businesses and corporations. Accolades include being recognized as one of the nation's best employers by Forbes and U.S. News & World Report and a as 2025 America's Best Banks by Forbes. Cadence maintains corporate offices in Houston, Texas and Tupelo, Mississippi, and has dutifully served customers for nearly 150 years. Learn more at www.cadencebank.com. Cadence Bank, Member FDIC. Equal Housing Lender.

Forward-Looking Statements

Certain statements made in this news release are not statements of historical fact and constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995 and the "bespeaks caution" doctrine.  These statements are often, but not always, made through the use of words or phrases such as "anticipate," "assume," "believe," "budget," "contemplate," "continue," "could," "expect," "foresee," "goal," "indicate," "may," "might," "outlook," "plan," "project," "prospect," "potential," "roadmap," "should," "target," "will," "would," or the negative version of those words, or other comparable words of a future or forward-looking nature. These forward-looking statements include, without limitation, statements related to the terms, timing, logistics and conditions of Cadence's share repurchase programs, Cadence's utilization of the share repurchase programs, and Cadence's compliance with applicable law including, but not limited to, federal securities laws, in connection with the administration of the share repurchase programs.

These forward-looking statements are not historical facts, and are based upon current expectations, estimates, and projections about Cadence's industry, management's beliefs, and certain assumptions made by management, many of which, by their nature, are inherently uncertain, involve risk, and are beyond Cadence's control.  The inclusion of these forward-looking statements should not be regarded as a representation by Cadence or any other person that such expectations, estimates, or projections will be achieved.  Accordingly, Cadence cautions that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict and that are beyond Cadence's control. Although Cadence believes these forward-looking statements are reasonable as of the date of this news release, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Undue reliance should not be placed on any such forward-looking statements.

Any forward-looking statement speaks only as of the date of this news release, and Cadence does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.  New risks and uncertainties may emerge from time to time, and it is not possible for Cadence to predict their occurrence or how they will affect Cadence.  The foregoing should be read in conjunction with those risk factors that are set forth from time to time in Cadence's periodic and current reports filed with its primary federal regulator, including those factors included in Cadence's Annual Report on Form 10-K for the year ended December 31, 2024 under the heading "Item 1A. Risk Factors," in Cadence's Quarterly Reports on Form 10-Q under the heading "Part II-Item 1A. Risk Factors," in Cadence's Current Reports on Form 8-K.

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SOURCE Cadence Bank

FAQ

How many shares can Cadence Bank (CADE) repurchase under its 2025 program?

Cadence Bank can repurchase up to 10 million shares of its common stock under the 2025 program.

When does Cadence Bank's (CADE) 2025 share repurchase program expire?

The share repurchase program expires on December 31, 2025.

What approvals does CADE need for its 2025 share repurchase program?

The repurchase program requires Federal Reserve approval before becoming effective.

How will Cadence Bank (CADE) execute its 2025 share repurchase program?

CADE will purchase shares through open market transactions, privately negotiated transactions, or other means in accordance with federal securities laws.