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) 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.
Cadence Bank (NYSE: CADE) has announced its schedule for the third quarter 2024 earnings release and webcast. The bank will release its earnings on Monday, October 21, 2024, after the financial markets close. The earnings webcast is scheduled for Tuesday, October 22, 2024, at 10:00 a.m. CT.
The webcast will feature a live coverage of management's conference call with analysts and can be accessed at https://ir.cadencebank.com/events. This interactive session will allow analysts to engage with management directly, while others can listen to the live broadcast. For those unable to attend the live event, an archived version of the conference call will be made available at the same web address.
Cadence Bank (NYSE: CADE) has declared quarterly dividends for both common and preferred stockholders. The board of directors announced a $0.25 per share cash dividend for common stock, payable on October 1, 2024, to shareholders of record as of September 13, 2024. Additionally, a $0.34375 per share cash dividend was declared for Series A Preferred Stock, payable on August 20, 2024, to shareholders of record as of August 5, 2024. These dividend declarations demonstrate Cadence Bank's commitment to providing regular returns to its investors.
Cadence Bank (NYSE: CADE) announced strong Q2 2024 financial results, with net income available to common shareholders of $135.1 million, or $0.73 per diluted share. Adjusted net income from continuing operations was $127.9 million, or $0.69 per diluted share, up 11.3% from Q1 2024. The bank achieved record adjusted pre-tax pre-provision net revenue of $190.9 million, up 19.7% year-over-year. Key highlights include:
- Net organic loan growth of $430.2 million (5.3% annualized)
- Core customer deposit growth of $237.4 million (2.9% annualized)
- Net interest margin improvement to 3.27%
- Stable credit quality with flat provision for credit losses
- Improved efficiency ratio to 56.7%
- Strong capital position with Common Equity Tier 1 Capital of 11.9%
The bank's performance reflects steady loan and deposit growth, stable funding costs, and improved operating efficiency.
Cadence Bank (NYSE: CADE) has announced its schedule for releasing its second quarter 2024 earnings. The earnings report will be published on Monday, July 22, 2024, after market close.
An earnings webcast is scheduled for Tuesday, July 23, 2024, at 10:00 a.m. CT. The webcast will feature a live conference call between management and analysts.
The live broadcast and an archived version will be available at https://ir.cadencebank.com/events.
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