- Cadence Bank (CADE, Financial) announces a new share repurchase program for up to 10 million shares.
- The program is valid until December 31, 2025, pending Federal Reserve approval.
- Repurchases will occur via open market transactions, private negotiations, or other means under federal securities laws.
Cadence Bank (CADE) has unveiled a share repurchase program authorized by its Board of Directors, aiming to buy back up to 10 million shares of common stock. This program awaits approval from the Federal Reserve and is slated to conclude on December 31, 2025.
Under the program, Cadence Bank's shares may be acquired through various methods, including open market transactions at current prices and private negotiations. The execution of this plan, including the timing and pricing of purchases, will be managed by the bank's management team. They will consider factors such as Cadence's financial health, liquidity, stock price, market conditions, and regulatory obligations.
The Board of Directors retains the flexibility to adjust, extend, or terminate the program as needed, without any firm commitment to purchase a specific number of shares. This strategic decision reflects the bank's confidence in its financial positioning and its dedication to enhancing shareholder value through potential increases in earnings per share.
Cadence Bank operates as a regional financial services company with a market capitalization of $5.12 billion and substantial institutional ownership. The company is headquartered in Houston, Texas, with a strong presence throughout the South and Texas, offering a range of banking services to its customers.
