Financial Data and Key Metrics Changes - GAAP net income for Q3 2024 was $134.1 million, or $0.72 per diluted common share, with adjusted net income from continuing operations at $135.6 million, or $0.73 per diluted common share, reflecting a 6% increase compared to Q2 2024 [4][7] - Core customer deposits grew over 11% on an annualized basis, with total deposit growth of approximately $985 million for the quarter, or 10.4% annualized [4][8] - Net interest margin improved to 3.31%, up 4 basis points from the previous year [5][9] Business Line Data and Key Metrics Changes - Loan balances were flat for the quarter, with net declines in non-real estate C&I loans offsetting a 2% overall growth in other loan segments [9] - Non-interest revenue was $88.8 million on an adjusted basis, increasing 3.7% in Q3, driven by broad-based fee growth despite a decline in mortgage banking revenue [11][12] - Total adjusted non-interest expense was just over $260 million, up 3.7% due to merit increases and other factors [13][14] Market Data and Key Metrics Changes - The company maintained a solid allowance for credit losses at 1.38% of loans, with net charge-offs at $22.2 million, or 26 basis points annualized [15][16] - Non-accrual loans increased by $56 million, primarily due to migration of previously criticized credits, but overall credit quality remained stable [15][16] Company Strategy and Development Direction - The company is focused on maintaining strong deposit growth while managing costs effectively, with plans to replace BTFP borrowings with core deposits [11][51] - Management expressed optimism about loan originations outpacing payoff pressures, supported by a robust and diverse loan pipeline [5][28] - The company aims to grow within existing markets rather than pursuing aggressive M&A, focusing on expanding in cities like Tampa, Orlando, and Nashville [39] Management's Comments on Operating Environment and Future Outlook - Management noted that credit quality remains stable and in line with expectations, with no significant concerns observed in the current economic environment [6][15] - The company is optimistic about continued momentum throughout the remainder of 2024 and into 2025, with expectations for improved net interest margins and fee income [17][39] Other Important Information - The company repurchased over 323,000 shares of stock during the quarter, with strong capital metrics including a CET1 ratio of 12.3% [7][16] - Adjusted efficiency ratio for the quarter was 57.7%, reflecting solid expense management [14] Q&A Session Summary Question: Discussion on NIM and loan yields - Management indicated that loan yields are expected to continue increasing modestly due to upcoming repricing of loans at higher rates [18][20] Question: Impact of BTFP paydowns on deposit betas - Management expects deposit costs to peak in the current quarter, with efforts to bring them down while retaining deposit growth [22][24] Question: Loan pipeline and production levels - New loan commitments were approximately $1.7 billion, with a strong pipeline but challenges in retaining loans on the balance sheet due to payoffs [27][28] Question: Expense growth normalization - Management acknowledged the difficulty in defining "normalized" expense growth but indicated that it would be influenced by inflation and ongoing investments in technology and personnel [32][36] Question: Capital management and M&A prospects - The company remains committed to share buybacks and is focused on organic growth within existing markets rather than pursuing aggressive M&A strategies [38][39]

Third Quarter 2024 Earnings Presentation Presented October 22, 2024 Third Quarter 2024 Financial Highlights | --- | --- | |-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

For the quarter ended September 2024, Cadence (CADE) reported revenue of $447.36 million, down 0.2% over the same period last year. EPS came in at $0.73, compared to $0.56 in the year-ago quarter.The reported revenue represents a surprise of -0.57% over the Zacks Consensus Estimate of $449.9 million. With the consensus EPS estimate being $0.63, the EPS surprise was +15.87%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Cadence (CADE) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 15.87%. A quarter ago, it was expected that this bank would post earnings of $0.60 per share when it actually produced earnings of $0.69, delivering a surprise of 15%. Over the last four quarters, the company has surpassed ...

HOUSTON and TUPELO, Miss., Oct. 21, 2024 /PRNewswire/ -- Cadence Bank (NYSE: CADE) (the Company), today announced financial results for the quarter ended September 30, 2024. Highlights for the third quarter of 2024 included: Reported quarterly net income available to common shareholders of $134.1 million, or $0.72 per diluted common share, and adjusted net income from continuing operations available to common shareholders,(1) which excludes non-routine income and expenses,(2) of $135.6 million, or $0.73 per ...

Wall Street analysts expect Cadence (CADE) to post quarterly earnings of $0.63 per share in its upcoming report, which indicates a year-over-year increase of 12.5%. Revenues are expected to be $449.9 million, up 0.4% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 2.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Before a company announces its ea ...

The market expects Cadence (CADE) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. 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 October 21, 2024, might help the stock move higher if these key numbers ar ...

HOUSTON and TUPELO, Miss., Sept. 24, 2024 /PRNewswire/ -- Cadence Bank (NYSE: CADE) will release its third quarter 2024 earnings on Monday, October 21, 2024, after the close of the financial markets. It will hold its earnings webcast on Tuesday, October 22, 2024, at 10:00 a.m. CT. The webcast will be live coverage of management's conference call with analysts and can be found by visiting: https://ir.cadencebank.com/events. This will be an interactive session between management and analysts; others may liste ...

2 Summary Financial Results (1) Considered a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------|-------|---------|---------|---------|----------------------------------------|-------|-------------------|-------------------|----------|-------| | $ in millions, unless otherwise indicated | | | 6/30/24 | | As of and Three Months Ended \n ...

Cadence Bank (NYSE:CADE) Q2 2024 Earnings Conference Call July 23, 2024 11:00 AM ET Company Participants Will Fisackerly - Director, Finance Dan Rollins - Chairman & CEO Valerie Toalson - CFO Chris Bagley - President & Chief Credit Officer Billy Braddock - Chief Banking Officer Conference Call Participants Manan Gosalia - Morgan Stanley Brett Rabatin - Hovde Group Jon Arfstrom - RBC Capital Markets Brandon King - Truist Michael Rose - Raymond James Gary Tenner - D.A. Davidson Matt Olney - Stephens Catherine ...