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 (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.
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On April 26, 2023, Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of
Cadence Bank (NYSE: CADE) reported its financial performance for the first quarter of 2023, achieving a net income of $74.3 million ($0.40 per diluted share) compared to $112.6 million ($0.60) in Q1 2022. Adjusted net income increased slightly to $124.4 million ($0.68 per diluted share). The bank witnessed deposit growth of $449.8 million (4.7% annualized) and organic loan growth of $933.3 million (12.5% annualized). However, net interest revenue declined to $354.3 million, down 1.42% from the last quarter. Noninterest revenue dropped to $74.1 million, primarily due to a $51.3 million loss on securities sales. The bank announced plans to consolidate 35 branches, projecting annual cost savings of $15-20 million.
Cadence Bank (NYSE: CADE) is set to announce its first-quarter 2023 earnings on April 24, 2023, after market close. A subsequent earnings webcast will occur on April 25, 2023, at 10:00 a.m. CT, allowing analysts and the public to engage in a Q&A session. Cadence Bank operates approximately $50 billion in assets and serves customers through around 400 branch locations across the South and Texas, offering a broad range of financial services, including consumer banking, commercial banking, and wealth management. The bank emphasizes a culture of respect, diversity, and inclusion.
Cadence Bank (NYSE: CADE) reported strong financial results for 2022, achieving a net income of $453.7 million, or $2.46 per diluted share. Adjusted net income reached $542.3 million, or $2.94 per diluted share. The bank generated organic loan growth of $3.5 billion, reflecting a 12.9% increase, and improved its net interest margin to 3.15%. For Q4 2022, net income stood at $95.6 million, with adjusted net income of $142.9 million. The bank maintained stable credit quality metrics, with non-performing loans down to 0.36% of total loans. Cadence also completed its merger integration, enhancing operational efficiency.
Cadence Bank (NYSE: CADE) announced an increase in its quarterly cash dividend to $0.235 per share, up 6.8% from $0.22. This dividend is payable on April 3, 2023, to shareholders of record by March 15, 2023. Additionally, a dividend of $0.34375 per share of Series A Preferred Stock will be paid on February 21, 2023, to shareholders of record by February 3, 2023. Cadence Bank will release its fourth-quarter financial results on January 30, 2023.
Cadence Bank (NYSE: CADE) is set to release its fourth-quarter 2022 earnings on January 30, 2023, after market close. A webcast for analysts will occur on January 31, 2023, at 10:00 a.m. CT. With approximately $50 billion in assets and nearly 400 branches across the South and Texas, Cadence offers a broad range of financial services. The bank emphasizes its commitment to diversity and inclusion in its operations and community engagement.
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