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Cadence Bank - CADE STOCK NEWS

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), headquartered in Houston, Texas, is a prominent regional banking company with approximately $50 billion in assets. Operating through its subsidiary, Cadence Bank, the company maintains a robust network of over 350 branches across Alabama, Florida, Mississippi, Tennessee, Texas, and the broader South. Cadence Bank offers a complete suite of banking and financial solutions tailored for consumers, businesses, and corporations. These services include consumer banking, mortgages, home equity lines and loans, credit cards, commercial banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, and retirement plan management.

The company prides itself on understanding customer needs and maintaining strong relationships throughout all phases of their financial lives. This approach distinguishes Cadence Bank as a refreshing alternative in the banking sector. With innovative products and methods, Cadence Bank aims to add significant value to both commercial and personal customers. Their hyper-focused customer service team ensures smooth interactions and relationships, guided by top-tier professionals with proven success records.

Cadence Bank is committed to community improvement, enhancing the quality of life in the regions they serve. Notably, the bank has executed several strategic initiatives for long-term growth, such as the completion of the sale of its insurance operations, Cadence Insurance, to Arthur J. Gallagher & Co. for $904 million. This transaction allows Cadence Bank to reinvest in its core banking business, supporting both short- and long-term strategic goals.

Despite the challenges of economic fluctuations, Cadence Bank has consistently demonstrated strong financial performance, maintaining stable credit quality metrics and a robust capital base. This is evidenced by recent quarterly results showing improved operating performance, disciplined growth, and meaningful improvements in key performance metrics.

Cadence Bank's corporate structure embodies respect, diversity, inclusion, and belonging, both within their workplace and the communities they serve. This dedication to social responsibility and community engagement further solidifies their role as a leading regional banking franchise.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Cadence Bank has partnered with MX, a financial data platform, to enhance its interchange revenue through data insights. The collaboration enabled Cadence to boost its annual recurring interchange revenue by nearly $157,000. In a recent campaign targeting over 50,000 users, Cadence achieved an impressive 11% response rate, resulting in over 5,800 new debit card users and 25,000+ new recurring payments. This partnership demonstrates the effectiveness of data-driven strategies in generating sustainable financial outcomes for banks.

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FAQ

What is the current stock price of Cadence Bank (CADE)?

The current stock price of Cadence Bank (CADE) is $33.43 as of October 31, 2024.

What is the market cap of Cadence Bank (CADE)?

The market cap of Cadence Bank (CADE) is approximately 6.1B.

What services does Cadence Bank offer?

Cadence Bank provides a range of services including consumer banking, mortgages, home equity lines and loans, credit cards, commercial banking, specialized lending, asset-based lending, commercial real estate, equipment financing, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, and retirement plan management.

Where is Cadence Bank headquartered?

Cadence Bank is headquartered in Houston, Texas.

How extensive is Cadence Bank's branch network?

Cadence Bank operates over 350 branches across Alabama, Florida, Mississippi, Tennessee, Texas, and the broader South.

What was the impact of the sale of Cadence Insurance?

The sale of Cadence Insurance to Arthur J. Gallagher & Co. for $904 million allowed Cadence Bank to reinvest in its core banking business, supporting both short- and long-term strategic goals.

What are Cadence Bank's core values?

Cadence Bank values respect, diversity, inclusion, and belonging, and is committed to improving the communities they serve.

How does Cadence Bank ensure customer satisfaction?

Cadence Bank maintains strong customer relationships through innovative products, hyper-focused customer service, and a dedicated team of professionals with proven success records.

What financial achievements has Cadence Bank recently reported?

Cadence Bank reported improved operating performance, disciplined growth, and meaningful improvements in key performance metrics, with significant progress in loan growth and core customer deposits.

How does Cadence Bank engage with the community?

Cadence Bank is dedicated to making a positive impact in the communities they serve through various community improvement initiatives and social responsibility efforts.

What are Cadence Bank's future strategic goals?

Cadence Bank aims to reinvest in its core banking business, improve operational efficiency, and achieve disciplined growth to enhance their financial performance and community impact.

What is Cadence Bank's market symbol and where can I find the latest news?

Cadence Bank is listed on the NYSE under the symbol CADE. The latest news and updates can be found on their official website and financial news platforms.

Cadence Bank

NYSE:CADE

CADE Rankings

CADE Stock Data

6.11B
184.38M
0.02%
85.19%
3.06%
Banks - Regional
Financial Services
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United States of America
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