Cadence Bancorporation
cadencebank.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Aug 5, 2021. Its latest SEC filing is a SC 13G from Nov 9, 2021.
10-Q for Q2 FY2021, filed Aug 5, 2021
The sections below describe the company as of the FY2020 annual report.
What Did They Do?
Provides commercial lending, retail banking and wealth management to middle-market businesses, consumers and affluent individuals.
10-K for FY2020, filed Mar 1, 2021Cadence Bancorporation is a financial holding company and a Delaware corporation headquartered in Houston, Texas, and is the parent company…View ↗
Our primary strategic objective is to engage in commercial lending to middle-market customers (generally characterized as businesses with…View ↗
Our Consumer Banking team consists of experienced professionals that focus on knowing individual clients in order to best meet their…View ↗
Through Linscomb & Williams Inc., a subsidiary of Cadence Bank, and our Cadence Trust brands, we offer wealth management and other…View ↗
How Did They Make Money?
Most revenue comes from interest on loans and investments, alongside fees from banking and wealth services. Some account and card fees arise when customers use those services, while asset-management fees are earned over the service period.
10-K for FY2020, filed Mar 1, 2021The following discussion and analysis presents our results of operations and financial condition on a consolidated basis. This discussion…View ↗
Service charges on deposit accounts consist of non-sufficient funds fees, account analysis fees, and other service charges on deposits…View ↗
The Company does not include assets held in fiduciary or agency capacities in the consolidated balance sheets, as such items are not assets…View ↗
Bankcard fees include primarily bankcard interchange revenue, which is recorded when services are provided.View ↗
$711.2M
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10-K for FY2020, filed Mar 1, 2021
$711.2M ↗
Who Were Their Customers?
Commercial borrowers work with relationship managers for lending and treasury services; consumers and small businesses use branches, online, mobile and telephone banking. Wealth services serve individuals, business owners, families and professional service companies.
10-K for FY2020, filed Mar 1, 2021Our primary strategic objective is to engage in commercial lending to middle-market customers (generally characterized as businesses with…View ↗
Our Consumer Banking team consists of experienced professionals that focus on knowing individual clients in order to best meet their…View ↗
We offer our customers a variety of deposit products, including checking accounts, savings accounts, money market accounts, time deposits…View ↗
Through Linscomb & Williams Inc., a subsidiary of Cadence Bank, and our Cadence Trust brands, we offer wealth management and other…View ↗
Marketing and DistributionView ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $205.5M in FY2020, but brought in more cash than it spent: $498.7M of free cash flow.
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2021, filed Aug 5, 2021
$101.3MView ↗
- ▲ Now profitable
- vs −$56.1M in Q2 FY2020
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Oct 29, 2021
Cadence Bancorporation merged into BancorpSouth
BancorpSouth survived, took the name Cadence Bank, and Cadence Bancorporation's shares were delisted from the NYSE.
Sources
8-K, filed Oct 29, 2021
Effective October 29, 2021, Cadence Bancorporation (the “Company”) completed its previously announced merger (the “Merger”) with…View ↗
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Sep 2, 2021
Agreed to sell seven Mississippi branches
The First agreed to assume branch deposits and acquire branch loans and related assets after the merger, subject to approval.
Sources
8-K, filed Sep 2, 2021
On September 2, 2021 Cadence Bank, N.A. (“Cadence Bank”) and BancorpSouth Bank entered into an agreement with The First, A National Banking…View ↗
Grew. Revenue grew 2.1x in 4 years, from $335.3M in FY2016 to $711.2M in FY2020, about 21% a year.
Payroll-services expansion The latest report describes Altera as a payroll-services subsidiary offering payroll processing, human resources, payroll cards and insurance brokerage; the older report lists payroll benefits solutions among financial services.
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