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) 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 Bancorporation (NYSE: CADE) will hold a conference call to discuss its second quarter 2021 results on July 22, 2021, at 7:30 a.m. CT. Participants can access the call via toll-free numbers and an Elite Entry Number of 2723400. A live webcast will be available on the company’s website, with a replay accessible until August 5, 2021, using specific access codes. As of March 31, 2021, Cadence Bancorporation had $18.8 billion in assets and operates 99 branches across six states, providing a comprehensive range of banking solutions.
Cadence Bank, a subsidiary of Cadence Bancorporation (NYSE: CADE), has formed a strategic alliance with Unity National Bank, Texas' only Black-owned bank. This partnership aims to enhance Unity's capacity to provide commercial loans and financial services to minority and underserved communities in Greater Houston and Atlanta. Cadence will offer advisory services covering IT management, product development, and talent recruitment. This collaboration is particularly timely, addressing the COVID-19 pandemic's impact on these communities.
Cadence Bancorporation (NYSE: CADE), a regional financial holding company, announced its participation in the Truist Annual Financial Services Conference on May 26, 2021. Key executives, including Paul B. Murphy, Jr. and Valerie Toalson, will represent the company at this virtual event. With $18.8 billion in assets as of March 31, 2021, Cadence Bank operates 98 branches across multiple states, providing a wide range of financial services such as commercial banking and wealth management, aimed at enhancing customer financial success.
Cadence Bancorporation (NYSE: CADE) reported a net income of $106.4 million ($0.84 per share) for Q1 2021, down from $200.6 million ($1.57 per share) in Q4 2020, but significantly improved from a net loss of $399.3 million a year ago. Adjusted net income was $104.7 million ($0.83 per share). The bank announced an allowance for credit losses of 2.49% of total loans, decreased from 2.89% in the prior quarter. Total assets reached $18.8 billion, a 9.1% increase year-over-year. A quarterly cash dividend of $0.15 per share was declared, to be paid on May 14, 2021.
BancorpSouth Bank (BXS) reported record financial results for Q1 2021, with net income of $79.2 million ($0.77 per diluted share), up from $21.9 million a year earlier. The bank achieved a pre-tax pre-provision net revenue of $99.1 million, while total deposits grew by $1.3 billion (26.7% annualized). Credit quality indicators improved, with no provision for credit losses and a 16.5% decrease in non-performing assets. BancorpSouth announced a merger with Cadence Bancorporation (CADE), expected to create a $44 billion institution, enhancing growth prospects.
BancorpSouth Bank (NYSE: BXS) and Cadence Bancorporation (NYSE: CADE) announced a transformative merger valued at over $6 billion. Cadence shareholders will receive 0.70 shares of BXS for each CADE share, along with a special cash dividend of $1.25 per share. The merger aims to create a leading regional bank with dual headquarters in Tupelo, MS, and Houston, TX. The combined entity is set to enhance growth opportunities, tap into attractive markets, and realize significant earnings per share accretion of 17% in 2022, driving shareholder value.
Cadence Bancorporation (NYSE: CADE) will hold a conference call on April 22, 2021, at 7:30 a.m. CT to discuss its first quarter 2021 results. A press release will precede the call. Participants can access the call via dedicated toll-free numbers and an Elite Entry Number, 9653528. The presentation will also be available live on the company's website, with a replay option through May 6, 2021. Cadence Bancorporation, based in Houston, Texas, has total assets of $18.7 billion as of December 31, 2020, and operates 98 branches across several states.
Cadence Bancorporation (NYSE: CADE) reported a net income of $200.6 million or $1.57 per share for Q4 2020, a significant increase from $51.4 million or $0.40 per share in Q4 2019. However, the full year showed a net loss of $205.5 million, compared to a profit of $202.0 million in 2019. An accelerated hedge revenue of $169.2 million boosted Q4 performance. Total net interest margin rose to 3.54%, alongside lower provisions for credit losses and an increase in regulatory capital ratios. A cash dividend of $0.15 per share was declared, with a $200 million share repurchase program announced.
Cadence Bancorporation (NYSE: CADE) anticipates a significant change in recognizing hedge revenue, estimating between $165 million and $175 million (pre-tax) in Q4 2020. The bank expects improvements in credit metrics, including a 25% decline in nonperforming loans and a 20% decrease in criticized loans. Furthermore, all regulatory capital ratios are projected to strengthen as a result of increased net income from hedge revenue. Upcoming capital actions may include increased dividends and resuming share repurchases, pending approvals.
Cadence Bancorporation (NYSE: CADE) will host a conference call on January 25, 2021, at 7:30 a.m. CT to discuss its fourth-quarter and full-year 2020 results. Interested participants can access the call via several toll-free numbers. The call will also be webcast live on the company's website. For those unable to attend, a replay will be available until February 8, 2021. As of September 30, 2020, Cadence held $18.4 billion in assets and operates 99 branches across several states, providing a range of banking services.
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