Cadence Bancorporation Announces $50 Million Share Repurchase Program
July 26 2019 - 6:46AM
Business Wire
Cadence Bancorporation (NYSE: CADE) (the “Company”) today
announced that its board of directors has authorized the repurchase
of up to $50 million of the Company’s Class A common stock. The
Company expects to fund the program with cash on hand and cash
generated from operations.
The repurchase authorization does not have an expiration date
and may be modified, suspended or discontinued at any time at the
Company’s discretion and does not obligate the Company to acquire
any particular amount of Class A common stock. The actual timing,
number and value of the shares to be purchased under the program
will be determined by the Company’s management at its
discretion.
The Company’s Class A common stock repurchase program will be
subject to various factors, including the Company’s capital
position, liquidity, financial performance and alternate uses of
capital, stock trading price, general market and other conditions,
and applicable legal requirements. The Class A common stock
repurchases may be accomplished through open market purchases or
privately negotiated transactions.
About Cadence Bancorporation
Cadence Bancorporation (NYSE: CADE), headquartered in Houston,
Texas, is a regional financial holding company with $17.5 billion
in assets as of June 30, 2019. Cadence operates 98 branch locations
in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas, and
provides corporations, middle-market companies, small businesses
and consumers with a full range of innovative banking and financial
solutions. Services and products include commercial and business
banking, treasury management, specialized lending, asset-based
lending, commercial real estate, SBA lending, foreign exchange,
wealth management, investment and trust services, financial
planning, retirement plan management, business insurance, consumer
banking, consumer loans, mortgages, home equity lines and loans,
and credit cards. Clients have access to leading-edge online and
mobile solutions, interactive teller machines, and more than 55,000
ATMs. The Cadence team of 1,800 associates is committed to
exceeding customer expectations and helping their clients succeed
financially.
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Cadence Bancorporation
Media contact: Danielle Kernell 713-871-4051
danielle.kernell@cadencebank.com
Investor relations contact: Valerie Toalson 713-871-4103
or 800-698-7878 vtoalson@cadencebancorporation.com
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