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 Bank (NYSE: CADE) announced a new share repurchase program authorizing the buyback of up to 10 million shares, effective January 3, 2023, and expiring December 29, 2023. Previously, Cadence repurchased 6.1 million shares under an expiring program. Purchases will occur at prevailing market prices and may vary based on the company's financial performance, liquidity, and market conditions. This initiative aims to enhance shareholder value and reflects the bank's solid capital position.
Cadence Bank (NYSE: CADE) announced a $16,000 funding award from the Federal Home Loan Bank of Dallas to Turning Point of South Arkansas through its Partnership Grant Program. This grant, celebrated in El Dorado, Arkansas, will help the nonprofit continue its crucial services aimed at preventing and addressing domestic violence, including operating expenses for its shelter and 24/7 crisis intervention. In 2022, Cadence and FHLB Dallas provided over $99,000 in grants to various nonprofits across Arkansas and neighboring states.
Cadence Bank (NYSE: CADE), Citizens National Bank, and FHLB Dallas have jointly awarded $18,000 to Twin Forks Rising Community Development Corp. to support housing and community services in Ward 2, Hattiesburg, Mississippi. The grant is part of the Partnership Grant Program, which strengthens ties between community organizations and banks. FHLB Dallas matches contributions at a 3:1 ratio, enhancing the resources available for community development projects. In 2022, FHLB Dallas provided nearly $559,000 to 38 organizations across five states.
Cadence Bank and the Federal Home Loan Bank of Dallas awarded a
Cadence Bank (NYSE: CADE) recently awarded a $6,000 grant to Christmas in April Grenada during a check presentation in Grenada, Mississippi. This funding is part of the Partnership Grant Program (PGP) aimed at assisting nonprofit organizations with operational costs. Christmas in April has successfully repaired nearly 300 homes in its community. This year, Cadence Bank and the Federal Home Loan Bank of Dallas distributed a total of $99,379 to nine nonprofits across Arkansas, Mississippi, Louisiana, and Texas, highlighting the importance of community support initiatives.
The board of directors of Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on January 3, 2023, to shareholders of record as of December 15, 2022. Additionally, a quarterly dividend of $0.34375 per share of Series A Preferred Stock was announced, payable on November 21, 2022, to shareholders of record by November 4, 2022. Cadence reported a net income of $121.0 million for Q3 2022, equating to $0.66 per diluted share.
Cadence Bank (NYSE: CADE) reported its financial results for Q3 2022, highlighting a net income of $121.0 million or $0.66 per diluted share. Adjusted earnings grew to $143.7 million, or $0.78 per diluted share, marking a 6.8% increase from Q2 2022. The bank achieved a net organic loan growth of $936.0 million (13.1% annualized) and improved net interest margin to 3.28%, up 22 basis points from the previous quarter. Credit quality remains stable with no provisions for credit losses and net charge-offs at 0.09% of average loans and leases.
Cadence Bank (NYSE: CADE) unveiled a new brand identity and corporate website on October 18, 2022, following the integration of BancorpSouth and Cadence systems. The new branding reflects the merger's success and aims to enhance customer relationships. Notable features include a redesigned logo symbolizing unity and growth, a vibrant color palette, and a customer-centric website offering a range of financial services. The initiative underscores Cadence's commitment to delivering exceptional service and fostering community prosperity.
Cadence Bank (NYSE: CADE) will release its third-quarter 2022 earnings on October 24, 2022, after market close. The bank will host a live earnings webcast on October 25, 2022, at 10:00 a.m. CT, allowing interactive participation from analysts. Cadence Bank operates with approximately $50 billion in assets and over 400 branches across the South, Midwest, and Texas, offering a wide range of banking services including consumer loans, mortgages, and business banking solutions.
Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on October 3, 2022, to shareholders of record on September 15, 2022. Additionally, a cash dividend of $0.34375 per share of Series A Preferred Stock is payable on August 22, 2022. For Q2 2022, net income for common shareholders was $124.6 million, or $0.68 per diluted share, with adjusted income at $134.2 million, or $0.73 per diluted share.