Cadence Bank reports Q3 adjusted EPS 73c, consensus 64c

Reports Q3 Tangible book value per common share $21.68, up $1.60 per share from Q2, while tangible common shareholders’ equity to tangible assets increased to 8.28% at September 30. “Our Q3 results reflect another good quarter with strong operating performance, highlighted by favorable deposit trends, improvement in our net interest margin, and continued disciplined expense management,” remarked Dan Rollins, Chairman and CEO of Cadence Bank (CADE). “From a balance sheet standpoint, we were very pleased with our team’s continued success in growing deposits across the franchise, while keeping the increase in total cost of deposits to just two basis points. Our loan pipelines continue to be robust, reflecting the strong economies in our footprint; however, elevated payoffs and paydowns resulted in total loans being flat linked quarter. Importantly, our net interest income and net interest margin continued to exhibit growth, and our expenses and credit quality results remained in line with expectations.”