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 operates as a regional commercial bank serving customers across Texas, Alabama, Florida, Mississippi, and Tennessee. The bank's news coverage reflects the activities of a multi-state banking institution including quarterly earnings releases, acquisition announcements, regulatory filings, and community banking initiatives.
For regional banks, news typically centers on financial performance metrics such as loan growth, deposit trends, net interest margin expansion or compression, credit quality indicators, and how interest rate environments affect profitability. Acquisition announcements are particularly relevant for regional banks pursuing growth through strategic mergers with other financial institutions, expanding geographic reach and customer bases.
Cadence Bank's news feed captures regulatory filings required of publicly traded banks, including quarterly earnings reports that detail financial performance across commercial lending, consumer banking, and wealth management segments. Insider transaction filings reveal when bank executives and directors buy or sell shares, potentially signaling confidence in the institution's direction. Dividend declarations indicate the bank's capital allocation priorities and financial strength.
Community banking news highlights how regional banks engage with local markets through lending programs, nonprofit partnerships, and economic development initiatives. These activities reflect the relationship banking model that distinguishes regional institutions from national banks, emphasizing local market knowledge and community connections.
Follow Cadence Bank news to track the financial performance, strategic direction, and market activities of this regional banking institution serving the southern United States.
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.
Cadence Bank (NYSE: CADE) reported strong financial results for Q4 and full-year 2024. Annual net income available to common shareholders reached $514.1 million ($2.77 per diluted share), with adjusted net income from continuing operations of $507.9 million ($2.74 per diluted share), marking a 24.5% increase per share from 2023.
Key 2024 highlights include: $1.2 billion net organic loan growth (3.8%), core customer deposits increase of $2.2 billion (6.9%), improved net interest margin to 3.30%, and enhanced efficiency ratio from 63.3% to 58.4%. The bank maintained stable credit quality with net charge-offs at 0.24% of average loans.
Q4 2024 performance showed net income of $130.3 million ($0.70 per share), with net organic loan growth of $437.8 million and core customer deposits growth of $259.6 million. The Board approved a 10% increase in quarterly common dividend to $0.275 per share.
Cadence Bank (NYSE: CADE) has appointed two new independent directors to its board, effective January 17, 2025. Fernando Araujo, current CEO of Berry , brings over 30 years of oil and gas upstream operations experience, having previously worked with industry leaders like Schlumberger, Apache , Repsol S.A., and Shell Oil.
Alice Rodriguez, with over 35 years of experience at JPMorgan Chase & Co., joins the board after serving as head of JPMorgan's community impact organization. She is also co-owner of Kendall Milagro, a Dallas-based boutique home builder, and previously served as chair of the U.S. Hispanic Chamber of Commerce from 2020-2022.
Both appointments aim to strengthen Cadence Bank's leadership with diverse expertise in regulated industries, banking operations, and community development.
Cadence Bank (NYSE: CADE) has scheduled its fourth quarter and year-end 2024 earnings release for Wednesday, January 22, 2025, after market close. The company will host an earnings webcast the following day, Thursday, January 23, 2025, at 10:00 AM CT.
The webcast will feature management's conference call with analysts and will be accessible through the company's investor relations website. While the interactive session will primarily focus on management-analyst discussions, the general public can listen to the live broadcast. An archived version of the conference call will also be made available on the same platform.
Cadence Bank (NYSE: CADE) has announced the adjournment of its special meeting of shareholders to January 27, 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.
The meeting includes four proposals: amendments to Articles of Incorporation (Proposal 1), stock repurchase authorization (Proposal 2), a new long-term incentive plan (Proposal 3), and meeting adjournment if needed (Proposal 4). Common shareholders have already approved all proposals, while preferred shareholders have only approved Proposal 4.
The record date remains November 8, 2024. Previously submitted proxies will remain valid for the reconvened meeting. Preferred shareholders can contact Okapi Partners to provide voting instructions.
Cadence Bank (NYSE: CADE) has appointed Brad Silcox as executive vice president and president of asset management and trust. Silcox brings 20 years of experience from Wilmington Trust, where he served in executive leadership roles including president of the Southeast region and chief administrative officer of wealth markets. Based in Atlanta, Georgia, he will oversee advisors across the Southeast and Texas, focusing on developing high-performing teams and building client relationships. Valerie Toalson, chief financial officer and president of banking services, highlighted Silcox's integrity and ability to drive growth-oriented change.
Cadence Bank (NYSE: CADE) has announced its quarterly dividend declarations. The board approved a $0.25 per share cash dividend for common stockholders, payable on January 2, 2025, to shareholders of record as of December 13, 2024. Additionally, Series A Preferred Stock holders will receive a quarterly cash dividend of $0.34375 per share, payable on November 20, 2024, to shareholders of record as of November 5, 2024.
Cadence Bank (NYSE: CADE) reported financial results for Q3 2024, with net income available to common shareholders of $134.1 million, or $0.72 per diluted share. Adjusted net income from continuing operations was $135.6 million, or $0.73 per diluted share, a 5.8% increase from Q2 2024. Key highlights include:
- Flat period-end loans at $33.3 billion
- Total deposits grew by $985.7 million (10.4% annualized)
- Net interest margin improved by 4 basis points to 3.31%
- Credit metrics showed 0.26% annualized net charge-offs
- Common Equity Tier 1 Capital remained strong at 12.3%
The bank reported strong deposit growth, improved net interest margin, and disciplined expense management. Adjusted pre-tax pre-provision net revenue (PPNR) was $189.9 million, flat compared to Q2 2024 but up $44.7 million from Q3 2023.
FAQ
What is the current stock price of Cadence Bk (CADE)?
What is the market cap of Cadence Bk (CADE)?
