Welcome to our dedicated page for Cadence news (Ticker: CADE), a resource for investors and traders seeking the latest updates and insights on Cadence stock.
Cadence Bank (NYSE: CADE) is a regional commercial bank with a multi-state footprint across Texas and the South, and its news flow reflects activity across banking, wealth management and community initiatives. Company announcements describe a franchise with more than 390 locations and a focus on serving individuals, businesses and corporations through banking, investment, trust and mortgage products and services.
News related to CADE often includes financial results, such as quarterly earnings releases that discuss net income, loan and deposit growth, net interest margin, credit quality metrics and the impact of acquisitions on the balance sheet. These releases also highlight developments in corporate and community banking, mortgage banking and wealth management revenue.
Another recurring theme in Cadence Bank news is strategic transactions. The company has reported acquisitions of other banking organizations, and Huntington Bancshares Incorporated has announced a definitive agreement to acquire Cadence Bank. Subsequent releases note regulatory approvals and shareholder approvals for the proposed merger of Cadence Bank with and into The Huntington National Bank, with closing subject to remaining customary conditions.
CADE news items also cover community and philanthropic programs, including the Cadence Cares Holiday Program, which channels donations through the Cadence Bank Foundation to nonprofits serving low- to moderate-income communities, and collaborations supporting affordable housing projects. In addition, Cadence-related news includes updates from Linscomb Wealth, a wholly owned subsidiary that forms part of Cadence Bank’s wealth services platform and reports on milestones and industry recognitions.
Investors and observers can use the CADE news page to follow developments in earnings, capital actions such as dividend declarations, merger progress, community engagement and wealth management activities associated with Cadence Bank.
Cadence Bank (NYSE: CADE) reported strong financial results for Q2 2022, achieving a net income of $124.6 million ($0.68 per diluted share), a significant increase from $73.2 million ($0.69 per diluted share) in Q2 2021. Adjusted net income was $134.2 million ($0.73 per diluted share), up 12.3% from the previous quarter. Key highlights included a 17.3% annualized loan growth of $1.2 billion and improved net interest margin of 3.06%. The bank also saw a decline in non-performing assets by 11.4%. Additionally, there was a share repurchase of 1 million shares during the quarter.
Cadence Bank (NYSE: CADE) will release its second-quarter 2022 earnings on July 25, 2022, after market close. A webcast for the earnings call will occur on July 26, 2022, at 10:00 a.m. CT. The bank is a significant regional banking franchise with approximately $50 billion in assets and over 400 branches across the South, Midwest, and Texas, offering a full range of banking and financial solutions. Investors can listen to the live broadcast and find archived sessions via Cadence's investor relations page.
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Cadence Bank (NYSE: CADE) has appointed Mandy Mitchell as Chief Experience Officer, a position crucial for enhancing customer and teammate experiences. Reporting directly to the CEO, Mitchell will drive strategies to meet evolving customer needs as the bank invests in technology solutions. With over 25 years at the company, she previously served as director of Strategic Initiatives and played a key role in integrating the operations post-merger with BancorpSouth Bank in October 2021. Cadence Bank manages approximately $50 billion in assets across 400 branches.
Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on July 1, 2022, for shareholders of record by June 15, 2022. Additionally, a cash dividend of $0.34375 per share for Series A Preferred Stock is set for May 20, 2022, to shareholders of record by May 5, 2022. For Q1 2022, net income available to common shareholders was $112.6 million, equating to $0.60 per diluted share, with adjusted income at $121.6 million or $0.65 per diluted share.
Cadence Bank (NYSE: CADE) reported strong financial results for Q1 2022, achieving a net income of $112.6 million or $0.60 per diluted share. Adjusted net income rose to $121.6 million or $0.65 per share. The bank saw loan growth of $307 million (4.6% annualized) and deposit growth of $767 million (7.7% annualized). Credit quality improved with a 22.4% decline in non-performing loans and no provisions for credit losses. Additionally, Cadence repurchased 5.1 million shares and increased dividends for the 10th consecutive year to $0.22 per share.
Cadence Bank (NYSE: CADE) will announce its first-quarter 2022 earnings on April 25, 2022, after market close. A webcast to discuss earnings will take place on April 26, 2022, at 10:00 a.m. CT. The interactive session will allow analysts to engage with management. Cadence Bank operates with approximately $50 billion in assets and over 400 branches across the South, Midwest, and Texas, providing a comprehensive range of banking services, including consumer and commercial banking, wealth management, and specialized lending solutions.
Cadence Bank (NYSE: CADE) announced its participation in investor conferences scheduled for March 2022. On March 8, at 9:15 a.m. ET, the bank will present at the Raymond James & Associates' 43rd Annual Institutional Investors Conference in Orlando, FL. CEO Dan Rollins will also join a merger and acquisition panel at the RBC Capital Markets Financial Institution Conference on March 9 at 1:20 p.m. ET. Both events will be webcast live and available for on-demand viewing on the company's investor relations website, enhancing engagement with investors.
Cadence Bank (NYSE: CADE) has unveiled its $20.7 billion Community Benefits Plan for 2022-2026, aimed at enhancing support for underserved communities. Collaborating with the National Community Reinvestment Coalition (NCRC), the plan focuses on mortgage lending, small business lending, community development, philanthropy, and volunteer services across several states including Alabama and Texas. Key allocations include $11.8 billion for residential loans, $6.5 billion for small business loans, and $2.4 billion for community development investment. This initiative follows the merger that established a regional banking leader with $50 billion in assets.
BancorpSouth Bank and FHLB Dallas have awarded a $750,000 Affordable Housing Program (AHP) subsidy to Renewal Ranch in Conway, Arkansas. This funding aims to construct a 42-unit residential facility for men recovering from drug addiction. Renewal Ranch, celebrating its 11th anniversary, focuses on aiding individuals aged 21 and older. The AHP funds support projects helping those with incomes at or below 80% of the area's median income. In 2021, FHLB Dallas allocated $18.5 million to various affordable housing projects across the region.