The market expects Cadence (CADE) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 29, 2024, might help the stock move higher if these key numbers are be ...

Bank customers, teammates and community members come together to award donations to 10 community-focused nonprofit organizations. HOUSTON and TUPELO, Miss., Jan. 17, 2024 /PRNewswire/ -- In the spirit of holiday giving, Cadence Bank (NYSE: CADE), through the Cadence Bank Foundation, proudly donated a total of $150,000 to 10 nonprofit organizations who participated in the annual Cadence Cares Holiday Program. Bank customers, teammates and community members voted for their nonprofit of choice with the organiz ...

Key PointsBank OZK is a 3.25% yielding stock trading below 9x earnings with growth forecasted for 2024. Valley National Bancorp has a 4.3% yield and should return to top- and bottom-line growth by the end of the year. Cadence Bank is fairly valued relative to the sector and pays a 3.3% yield, with dividend growth expected in Q1 2024. 5 stocks we like better than Bank OZKResults from the big banks have the financial sector on the cusp of a correction. The news isn't bad, but strengths were priced into the ma ...

Dan Rollins – Chairman and Chief Executive Officer Matt Olney – Stephens Data processing and software expenses declined $3.9 million on a linked quarter basis, including the result of savings associated with vendor contracts and service agreements. Finally, other miscellaneous expenses declined $3.6 million compared to the first quarter, including lower levels of fraud losses as well as several other smaller items through various miscellaneous expense categories. Catherine Mealor Dan Rollins Yes. Most of th ...

Available-for-Sale Securities(2) 13 % of Total Revenue 28.4% 17.3% 27.8% • Insurance commission revenue continues to be strong at $45.6 million for the second quarter of 2023, compared with $40.0 million for the second quarter of 2022 and $39.6 million for the first quarter of 2023. The linked quarter increase of $6.0 million was primarily in property and casualty commissions and was driven by successful client acquisition efforts as well as continued upward pressure on policy rates. Adjusted Noninterest Ex ...

Hank Holmes The other thing, I would add is that securities portfolio has room to decline a little more. We are comfortable in the 15% to 20% of asset range and just this year there's anticipated $1.5 billion of cash flow off of that securities portfolio as well that can also fund loan growth. Chris Bagley I'll turn it over -- Hank, anything you want to add? Does that help you, Kevin? And our next question will come from Brett Rabatin with Hovde Group. Please go ahead with your question. Brett Rabatin Valer ...

| --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------|----------|---------|---------|---------|----------| | | 12/31/22 | 9/30/22 | 6/30/22 | 3/31/22 | 12/31/21 | | Assets | | | | | | | Cash and Due from Banks $756.9 $694.0 $770.3 $781.3 $656.1 | | | | | | | Deposits with Other Banks & Fed Funds 1,241.2 895.6 1,069.4 880.7 638.5 | | | | | | | Available-for-sale securities, at fair value 11,944.1 12,441.9 13,450.6 14,371.6 15,606.5 ...

Full Year and Fourth Quarter 2022 Financial Results Full Year 2022 Financial Highlights Earnings Highlights ● Adjusted pre-tax pre-provision net revenue(1) of $722.3 million in 2022, or 1.52% of average assets for the year. Balance Sheet ● The stable credit environment combined with a continued disciplined credit risk management approach contributed to strong asset quality metrics for the year. Credit ● Total revenue of $1.8 billion in 2022 up $660.5 million or 55.8% from 2021, reflecting the full year impa ...

Good morning. Thank you for joining the Cadence Bank fourth quarter 2022 earnings conference call. We have our executive management team here with us this morning, Dan, Paul, Chris, Valerie and Hank. James Rollins Our fourth quarter results were again very diverse from a product and geographic standpoint. We had six of the seven regions within our Company report net growth for the quarter and our corporate banking team had another outstanding quarter. We also continue to see favorable results from many of o ...

Financial Data and Key Metrics Changes - The company reported adjusted net income of $143.7 million, or $0.78 per diluted share, representing a 7% increase compared to the previous quarter [11] - Adjusted PPNR (pre-provision net revenue) increased to $189.8 million, also up approximately 7% from the second quarter [11] - Net loan growth for the quarter was $936 million, or 13% annualized, bringing year-to-date total loan growth to $2.4 billion, or 12% annualized [12] - Total adjusted non-interest expense was $290.2 million, up from $271.8 million in the previous quarter, driven by compensation and nonrecurring benefits [25][28] Business Line Data and Key Metrics Changes - The corporate banking group had strong performance across various sectors, including C&I, energy, and real estate [12] - Non-interest revenue remained stable at $124.5 million, with a decline in mortgage banking revenue offset by improved revenue in limited partnership investments and other fees [24] - The insurance team reported a year-over-year revenue increase of over 11% [24] Market Data and Key Metrics Changes - The Texas region led loan growth, reflecting the economic environment and the company's geographic footprint [12] - The company experienced a decline in deposits of $1.2 billion, with nearly half attributed to public funds and correspondent bank balances [13] Company Strategy and Development Direction - The company successfully completed a core operating system conversion and rebranding of over 400 locations, enhancing its operational efficiency and customer service [7][10] - The management anticipates further benefits from merger efficiencies as they move into 2023, alongside the favorable interest rate environment [19][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of credit quality, despite a slight increase in net charge-offs due to one acquired energy credit [15][16] - The company is well-positioned for future growth, with a strong asset sensitivity and a unified brand to serve customers across its footprint [32] Other Important Information - The company incurred a $2.9 million pension settlement expense due to an elevated number of retirements [29] - Regulatory capital remains solid, with a common equity Tier 1 ratio of 10.3% and a total capital ratio of 12.8% [32] Q&A Session Summary Question: What is the expected run rate for expenses going into the fourth quarter? - Management indicated that the $290 million expense run rate is reasonable, with an estimated $46 million in cost savings remaining to be realized over the next couple of quarters [35][38] Question: What drove the increase in criticized or substandard loans? - Management noted that the increase was related to a few C&I credits, with no significant concerns about overall credit quality [40][41] Question: What is the outlook for net interest margin? - Management believes there is room for improvement in net interest margin due to the repricing of loans and the current interest rate environment [52][54] Question: How does the company view provisioning and the allowance ratio? - Management stated that while they are monitoring economic conditions, they feel confident about their current allowance ratio and credit quality [60][62] Question: What is the company's strategy regarding capital and buybacks? - Management has not engaged in stock buybacks recently due to low capital levels and intends to remain conservative given economic uncertainties [92]