Core Insights - Cadence Bank reported strong financial results for the fourth quarter and full year of 2025, highlighting continued earnings growth and balance sheet expansion, supported by strategic partnerships and a pending merger with Huntington Bancshares [2][5]. Financial Performance - For the year ended December 31, 2025, net income available to common shareholders was $532.6 million, or $2.83 per diluted share, an increase from $514.1 million, or $2.77 per diluted share in 2024 [3][5]. - Adjusted net income for 2025 was $582.2 million, or $3.10 per diluted share, compared to $507.9 million, or $2.74 per diluted share in 2024, marking a 13.1% increase on a per-share basis [5]. - The adjusted pre-tax pre-provision net revenue (PPNR) reached a record $857.7 million, or 1.68% of average assets, up from $739.0 million, or 1.54% of average assets in 2024 [5]. Quarterly Highlights - In Q4 2025, net income available to common shareholders was $144.4 million, or $0.76 per diluted share, compared to $130.3 million, or $0.70 per diluted share in Q4 2024 [4][5]. - Adjusted net income for Q4 2025 was $160.6 million, or $0.85 per diluted share, up from $130.0 million, or $0.70 per diluted share in Q4 2024 [4][5]. - The adjusted PPNR for Q4 2025 was $237.8 million, reflecting a 29.2% increase compared to Q4 2024 [6][5]. Balance Sheet and Growth - Total loans increased by $3.5 billion, or 10%, in 2025, while total deposits grew by $3.6 billion, or 9% [5]. - The net interest margin improved by 17 basis points to 3.47% for 2025, benefiting from balance sheet growth and improved funding costs [5]. - As of December 31, 2025, total assets were $53.5 billion, with loans and leases net of unearned income at $37.2 billion [10][11]. Credit Quality - Net charge-offs for Q4 2025 were $26.1 million, or 0.28% of average net loans, compared to $14.1 million, or 0.17% in Q4 2024 [13][14]. - The allowance for credit losses was $495.1 million at December 31, 2025, representing 1.33% of total loans [13][14]. Noninterest Revenue and Expenses - Noninterest revenue for Q4 2025 was $101.5 million, up from $86.2 million in Q4 2024 [15][20]. - Noninterest expense for Q4 2025 was $311.3 million, compared to $266.2 million in Q4 2024, with adjusted noninterest expense at $290.6 million [20][21]. Strategic Transactions - The company completed mergers with FCB Financial Corp. and Industry Bancshares, adding approximately $4.7 billion in assets and enhancing its presence in Georgia and Texas [5][23][24]. - A definitive merger agreement with Huntington Bancshares is expected to close on February 1, 2026, creating a top 10 national franchise with pro forma total assets exceeding $275 billion [5][25].

Financial Performance - Adjusted net income available to common shareholders reached $137.5 million, resulting in an adjusted EPS of $0.73[3, 4] - Adjusted pre-tax pre-provision net revenue (PPNR) hit a record $206.0 million, an 8.4% increase compared to the first quarter of 2025[3, 4] - Net charge-offs for the second quarter of 2025 were $21.2 million, representing 0.24% of average net loans and leases on an annualized basis[30, 33] Balance Sheet Growth - Net organic loan growth was $1.1 billion for 2Q25, translating to an annualized rate of 12.6%[4] - Core organic customer deposit balances grew by $376 million, or 4.4% on an annualized basis[4] - Total deposits reached $40.5 billion as of June 30, 2025, a $0.2 billion increase from the previous quarter[11, 13] - Loans and leases increased by $1.4 billion to $35.5 billion from the end of the first quarter of 2025[14, 16] Acquisitions - Completed the acquisition of FCB Financial Corp, adding approximately $604 million in assets[4, 6] - Completed the acquisition of Industry Bancshares, Inc, adding approximately $4.1 billion in assets[4, 8, 10] Capital and Credit Quality - Maintained strong regulatory capital with a Common Equity Tier 1 Capital of 12.2% and Total Capital of 13.8%[3, 4] - Total shareholders' equity was $5.9 billion at June 30, 2025[58, 60]

Core Insights - Cadence Bank reported strong operating performance for Q2 2025, driven by organic balance sheet growth and recent acquisitions, including First Chatham and Industry Bancshares [3][15][24][25] Financial Performance - Net income available to common shareholders for Q2 2025 was $129.9 million, or $0.69 per diluted common share, compared to $135.1 million, or $0.73 per diluted common share in Q2 2024 [4][15] - Adjusted net income for Q2 2025 was $137.5 million, or $0.73 per diluted common share, up from $127.9 million, or $0.69 per diluted common share in Q2 2024 [4][15] - Return on average assets was 1.09% for Q2 2025, down from 1.15% in both Q2 2024 and Q1 2025 [5][38] - Adjusted return on average assets was 1.14% for Q2 2025, compared to 1.09% in Q2 2024 [5][38] Revenue and Expenses - Net interest revenue for Q2 2025 was $378.1 million, an increase from $356.3 million in Q2 2024 [6][15] - Noninterest revenue was $98.2 million for Q2 2025, down from $100.7 million in Q2 2024 [16][15] - Noninterest expense for Q2 2025 was $272.9 million, compared to $256.7 million in Q2 2024 [20][15] Balance Sheet Highlights - Total assets increased to $50.4 billion as of June 30, 2025, up from $47.7 billion a year earlier [35][15] - Loans and leases net of unearned income rose to $35.5 billion, reflecting a net organic loan growth of $1.1 billion, or 12.6% annualized [9][15] - Total deposits were $40.5 billion as of June 30, 2025, a slight increase from $40.3 billion at the end of Q1 2025 [10][15] Credit Quality - Net charge-offs for Q2 2025 were $21.2 million, or 0.24% of average net loans and leases, compared to $22.6 million, or 0.28% in Q2 2024 [12][15] - The allowance for credit losses was $474.7 million, or 1.34% of total loans and leases, compared to 1.41% a year earlier [12][15] Capital Management - Total shareholders' equity was $5.9 billion at June 30, 2025, up from $5.3 billion a year earlier [22][15] - Common Equity Tier 1 capital ratio was 12.2% as of June 30, 2025 [22][15] Strategic Transactions - The acquisition of First Chatham on May 1, 2025, added approximately $604 million in assets [15][24] - The acquisition of Industry Bancshares on July 1, 2025, added approximately $4.1 billion in assets [15][25]

Financial Performance - The company reported net income available to common shareholders of $130.9 million, or $0.70 per diluted common share[5] - Adjusted net income available to common shareholders was $131.4 million, or $0.71 per diluted common share[3, 5] - Quarterly adjusted pre-tax pre-provision net revenue (PPNR) reached $189.9 million, a $5.9 million increase from Q4 2024[5] - Net interest margin expanded by 8bps from the previous quarter to 3.46%[3, 5] - The adjusted efficiency ratio improved to 57.6%, a +151bps change compared to Q4 2024[3] Loan and Deposit Portfolio - Period end loans totaled $34.1 billion, reflecting a 3.7% annualized growth in Q1 2025[3] - Net organic loan growth was $309.9 million for 1Q25, or 3.7% on an annualized basis[5] - Total deposits were $40.3 billion as of March 31, 2025, a decline of $0.2 billion from $40.5 billion at the end of Q4 2024[6, 8] - Noninterest bearing deposits accounted for 21% of total deposits at the end of Q1 2025[6] Credit Quality - Net charge-offs for 1Q25 were $23.0 million, or 0.27% of average net loans and leases on an annualized basis[24, 27] - Total nonaccrual loans and leases improved to $236 million, or 0.69% of total loans[28, 29] - Allowance for credit losses was 1.34% of net loans and leases at March 31, 2025[27] Capital and Merger - Total shareholders' equity was $5.7 billion at March 31, 2025[51, 53] - Tangible book value per common share increased to $22.30 per share at March 31, 2025, up $2.82 per share, or 14.5%, compared to March 31, 2024[53] - The company received approvals to complete merger with FCB Financial Corp, expected to close May 1, 2025[5]

Core Viewpoint - Cadence Bank has received all necessary regulatory approvals to proceed with its merger with FCB Financial Corp, which is expected to be finalized on May 1, 2025, pending customary closing conditions [1][2]. Group 1: Merger Details - The merger will integrate First Chatham Bank, which reported total assets of $589 million, total loans of $326 million, and total deposits of $507 million as of December 30, 2024 [2]. - Cadence Bank's Chairman and CEO, Dan Rollins, expressed satisfaction with the regulatory approval and highlighted the alignment of values between Cadence Bank and First Chatham Bank [3]. Group 2: Company Overview - Cadence Bank is a regional financial services company with approximately $50 billion in assets and over 350 locations across the South and Texas, offering a range of banking and investment services [4]. - The bank has been recognized as one of the best employers and banks in the nation, reflecting its commitment to customer service and community support [4].