Cadence Bank Announces Second Quarter 2022 Financial Results
Cadence Bank (CADE)
Last cadence bank earnings: 4/29 06:31 am
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US:NASDAQ Investor Relations:
cadencebank.com/about/investor-relations-overview
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Source: PR Newswire
TUPELO, Miss. and HOUSTON , July 25, 2022 /PRNewswire/ -- Cadence Bank (NYSE: CADE) (the Company), today announced financial results for the quarter ended June 30, 2022.Highlights for the second quarter of 2022 included (as compared to the linked quarter unless noted otherwise):Achieved meaningful growth in quarterly net income available to common shareholders of $124.6 million, or $0.68 per diluted common share, and adjusted net income available to common shareholders of $134.2 million, or $0.73 per diluted common share, representing quarterly increases in earnings per diluted share of 13.3% and 12.3% respectively.Reported $176.7 million in adjusted pre-tax pre-provision net revenue (PPNR), up 10.2% and improving to 1.51% of average assets on an annualized basis.Continued improvement in other profitability metrics, including an adjusted return on average tangible common equity of 19.50% for the second quarter.Generated net organic loan growth of $1.2 billion for the quarter, or 17.3%
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