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HOUSTON and TUPELO, Miss. - Cadence Bank (NYSE:CADE) reported better-than-expected earnings but missed revenue estimates for the first quarter of 2025.
The regional bank posted adjusted earnings per share of $0.71, surpassing analyst expectations of $0.64. However, revenue of $448.6 million fell short of the $451.3 million consensus estimate.
Cadence Bank’s net income available to common shareholders rose to $130.9 million, or $0.70 per diluted share, compared to $114.6 million, or $0.62 per share, in the same quarter last year.
The bank saw improvement in its net interest margin, which expanded to 3.46% from 3.22% a year ago. Net interest revenue increased to $363.2 million from $353.9 million in Q1 2024.
"Our first quarter results reflect a number of key accomplishments related to our financial performance and strategic growth efforts," said Dan Rollins, Chairman and CEO of Cadence Bank. "We reported strong earnings driven by improved operating leverage and further expanded our net interest margin."
Total (EPA:TTEF) loans grew 3.7% annualized to $34.1 billion, while deposits declined slightly to $40.3 billion. The bank maintained strong capital levels, with a Common Equity Tier 1 ratio of 12.4%.
Cadence Bank also noted it has received all necessary approvals to complete its pending merger with First Chatham Bank in Georgia, expected to close on May 1, 2025.
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