Cadence Bank (CADE) has announced a decline in its fourth-quarter profit compared to the same timeframe from the previous year. The bank's net income amounted to $130.34 million, or $0.70 per share, which is a decrease from $256.69 million, or $1.41 per share, reported in the corresponding period last year.
When excluding certain items, Cadence Bank's adjusted earnings stood at $130.0 million, translating to $0.70 per share for this period. Despite the drop in profit, the company's revenue experienced an increase, growing by 8.9% to reach $364.5 million, up from $334.6 million in the previous year.
Summary of Cadence Bank’s Financial Performance (According to GAAP):
- Profit: $130.34 million, compared to $256.69 million last year.
- Earnings Per Share (EPS): $0.70, compared to $1.41 last year.
- Revenue: $364.5 million, compared to $334.6 million last year.
