Capital allocation remains disciplined with consistent quarterly dividend payments of approximately $50 million, supported by a robust cash flow profile that yielded an OCF/NI ratio of 1.50 in 2025Q3.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 | Dec'95 |
|---|
| Cash from Operations | 584.46M | 856.66M | 563.51M | 927.91M | 1.17B | 222.89M | 239.58M | 223.37M | 180.84M | 143.5M | 133.31M | 142.13M | 203.73M | 160.66M | 276.12M | 224M | 280.02M | 123.64M | 113.64M | 124.24M | 187.53M | 107.27M | 242.37M | 128.3M | 83.66M | 139.79M | 143.1M | 81.7M | 55.4M | 59.7M | 38.1M |
| Operating CF Growth % | 122.29% | 52.02% | -39.27% | -20.88% | 426.14% | -6.97% | 7.26% | 23.52% | 26.03% | 7.64% | -6.21% | -30.24% | 26.81% | -41.82% | 23.27% | -20.01% | 126.49% | 8.8% | -8.53% | -33.75% | 74.82% | -55.74% | 88.91% | 53.35% | -40.15% | -2.31% | 75.15% | 47.47% | -7.2% | 56.69% | -68.92% |
| Net Income | 530.43M | 523.6M | 542.3M | 463.24M | 195.16M | 228.05M | 234.26M | 221.32M | 153.03M | 132.73M | 127.49M | 116.75M | 94.11M | 84.3M | 37.57M | 22.94M | 82.73M | 120.41M | 137.94M | 125.19M | 115.2M | 110.62M | 131.13M | 112.02M | 98.46M | 74.4M | 102.4M | 88.2M | 53.9M | 47.3M | 35.5M |
| Depreciation & Amortization | 94.07M | 202.57M | 238.61M | 255.82M | 175.94M | 75.12M | 43.08M | 34.55M | 30.12M | 29.27M | 30.25M | 31.71M | 29.52M | 30.94M | 32.21M | 33.67M | 35.75M | 35.68M | 33.02M | 43.61M | 53.27M | 57.5M | 52.46M | 38.95M | 36.57M | 24.97M | 20.2M | 9.5M | 13M | 11.8M | 8.5M |
| Deferred Taxes | 115M | 8.22M | 892K | 7.82M | -22.06M | -240K | 1.5M | 25.92M | 20.97M | 10.52M | -11.36M | -7.56M | 3.36M | -3.75M | -4.25M | -16.05M | -9.36M | -1.74M | 15.55M | 6.29M | 22.81M | -5.39M | 8.21M | 16K | 3.45M | -1.83M | -400K | 4M | -1M | 1M | 100K |
| Other Non-Cash Items | 127.77M | 20.84M | -269.48M | 95.41M | 929.24M | -170.82M | -227.41M | 683K | 22.02M | -28.33M | -11.96M | -16.12M | 86.21M | 23.07M | 166.35M | 166.41M | 233.39M | -9.82M | -5.14M | -47.65M | -484K | -66.34M | 49.03M | -17.33M | -49.58M | 39.92M | -2M | 5.6M | -8.5M | 1.7M | -4.1M |
| Working Capital Changes | -313.25M | 68.72M | 11.2M | 68.75M | -123.65M | 77.96M | 172.84M | -71.6M | -54.4M | -7.79M | -6.7M | 16.14M | -11.12M | 24.21M | 41.55M | 14.98M | -63.83M | -21.36M | -69.48M | -3.2M | -3.27M | 10.88M | 1.53M | -5.36M | -5.24M | 2.33M | 22.9M | -25.6M | -2M | -2.1M | -1.9M |
| Cash from Investing | -1.24B | -782.16M | 2.4B | -1.71B | -3.15B | -2.43B | -1.29B | 577.59M | -634.94M | -941.24M | -627M | -459.36M | -480.03M | 265.15M | 642.15M | -626.85M | 144.62M | -325.62M | -335.04M | -298.35M | -473.67M | -269.54M | -195.45M | -662.07M | -297.35M | -633.27M | -546.3M | -794.3M | -383.2M | -324.6M | -250.1M |
| Purchase of Investments | -1.65B | -851.65M | -2.44B | -884.25M | -7.95B | -3.05B | -2.59B | -579.15M | -981.12M | -891.15M | -374.18M | -252.47M | -718.43M | -430.82M | -565.37M | -1.62B | -204.31M | -1.43B | -600.56M | -745.79M | -503.26M | -1.12B | -3.17B | -3.31B | -1.92B | -1.58B | -1.56B | -1.32B | -691.9M | -511.7M | -405.4M |
| Sale/Maturity of Investments | 3.79B | 1.59B | 6.32B | 2.94B | 2.74B | 1.43B | 1.16B | 1.28B | 656.39M | 419.23M | 416.9M | 584.26M | 584.93M | 524.58M | 947.69M | 823.65M | 532.99M | 1.74B | 920.38M | 744.73M | 789.14M | 1.2B | 2.97B | 2.9B | 1.68B | 1.6B | 1.54B | 1.21B | 647.2M | 410.7M | 448.1M |
| Net Investment Activity | 2.15B | 739.95M | 3.87B | 2.05B | -5.21B | -1.62B | -1.43B | 697.01M | -324.73M | -471.92M | 42.72M | 331.79M | -133.51M | 93.76M | 382.32M | -801.34M | 328.68M | 315.2M | 319.82M | -1.06M | 285.88M | 82.99M | -204.49M | -402.56M | -247.73M | 20.21M | -20.6M | -109.8M | -44.7M | -101M | 42.7M |
| Acquisitions | 503.84M | 15.31M | 861.36M | -11.51M | 2.31B | 2.07M | 172.61M | 134.17M | 0 | -11.2M | 0 | -7.06M | -17.36M | -5.97M | 0 | 0 | -1.13M | -10.61M | -62.12M | -4.86M | -17.51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -3.82B | -1.46B | -2.24B | -3.66B | -179.59M | -740.31M | 17.64M | -214.06M | -274.48M | -433.03M | -639.33M | -766.88M | -303.71M | 202.04M | 280.31M | 194.1M | -157.63M | -565.34M | -553.11M | -241.04M | -691M | -313.04M | 36.53M | -231.58M | -4.71M | -604.29M | -503.7M | -658.3M | -312.7M | -200.9M | -274.1M |
| Cash from Financing | -1.44B | -2.58B | -723.05M | 1.49B | 2.86B | 2.29B | 1.06B | -689.25M | 451.86M | 822.74M | 334.42M | 146.06M | -398.89M | 278.47M | -691.01M | 436.49M | -490.8M | 170.94M | 105.58M | 157.09M | 432.07M | 105.78M | -29.87M | 536.21M | 246.66M | 478.45M | 451.2M | 586.3M | 449.5M | 273.2M | 233.1M |
| Dividends Paid | -210.71M | -192.13M | -181.28M | -170.26M | -108.75M | -85.95M | -72.76M | -61.54M | -48.35M | -42.31M | -33.37M | -23.98M | -11.38M | -3.78M | -11.69M | -73.46M | -73.33M | -71.88M | -77.73M | -61.89M | -65.72M | -55.71M | -49.82M | -48.3M | -46.6M | -39.78M | -38.8M | -32.9M | -17.9M | -15.5M | -10.1M |
| Share Repurchases | -11.85M | -35.44M | -2.41M | -183.58M | -185.68M | -91.18M | -71.7M | -194.37M | -112.1M | -24.16M | -70.44M | -711K | 0 | -75K | -57K | 0 | 0 | -326K | -17.07M | -10.79M | 0 | -34.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 108K | 881K | 2.77M | 10.44M | 11.58M | 912K | 110.23M | 20K | 420K | 6.32M | 15.65M | 10.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -11.85M | -35.44M | -2.41M | -183.58M | -185.68M | -91.18M | -71.7M | -194.26M | -111.22M | -21.39M | -60M | 10.87M | 912K | 110.15M | -37K | 420K | 6.32M | 15.33M | -6.65M | -10.79M | 0 | -34.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | -1000K | -1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 624K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K |
| Other Financing | 2.27B | 2B | -459.37M | -863.98M | 3.21B | 3.07B | 1.02B | -391.52M | 227.46M | 358.46M | 359.9M | 200.36M | -314.17M | 132.93M | -534.88M | 812.36M | 966.33M | -349.96M | -247.34M | 104.33M | 250.59M | 190.6M | 50.21M | 593.03M | 375.92M | 414.27M | 345.7M | 618.3M | 318.2M | 298.9M | 265M |
| Net Change in Cash | -2.1B | -2.5B | 2.24B | 703.47M | 877.31M | 84.36M | 570K | 111.71M | -2.24M | 25M | -159.28M | -171.17M | -675.19M | 704.27M | 227.26M | 33.64M | -66.15M | -31.04M | -115.81M | -17.02M | 145.93M | -56.49M | 17.04M | 2.44M | 32.97M | -15.04M | 48.01M | -126.4M | 120.9M | -184.3M | -144.7M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 1.54B | 4.23B | 2B | 1.29B | 417.37M | 333.01M | 332.44M | 220.72M | 222.97M | 197.97M | 357.25M | 528.42M | 1.2B | 499.34M | 272.09M | 238.44M | 304.6M | 335.64M | 451.45M | 468.47M | 322.54M | 379.03M | 361.98M | 359.54M | 326.57M | 341.61M | 293.6M | 420M | 200.8M | 184.3M | 144.7M |
| Cash at End | 1.89B | 1.73B | 4.23B | 2B | 1.29B | 417.37M | 333.01M | 332.44M | 220.72M | 222.97M | 197.97M | 357.25M | 528.42M | 1.2B | 499.34M | 272.09M | 238.44M | 304.6M | 335.64M | 451.45M | 468.47M | 322.54M | 379.03M | 361.98M | 359.54M | 326.57M | 341.61M | 293.6M | 322.5M | 171.9M | 165.8M |
| Interest Paid | 1.1B | 1.1B | 885.66M | 190.24M | 78.72M | 104.29M | 131.65M | 81.96M | 39.79M | 28.82M | 28.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 10.19M | 115.08M | 163.45M | 72.44M | 76.8M | 74.72M | 55.83M | 4.94M | 70.95M | 47.4M | 35.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 507.73M | 776.59M | 465.22M | 833.42M | 1.1B | 156.94M | 184.59M | 183.83M | 145.11M | 118.41M | 102.91M | 124.92M | 178.27M | 135.98M | 255.64M | 204.39M | 254.73M | 58.76M | 74.01M | 72.85M | 136.5M | 67.78M | 214.88M | 100.36M | 38.75M | 90.6M | 121.1M | 55.5M | 29.6M | 37M | 19.4M |
| FCF Growth % | -22.88% | 66.93% | -44.18% | -24.27% | 601.2% | -14.98% | 0.41% | 26.69% | 22.55% | 15.06% | -17.62% | -29.93% | 31.11% | -46.81% | 25.08% | -19.76% | 333.52% | -20.61% | 1.6% | -46.63% | 101.38% | -68.46% | 114.1% | 159% | -57.23% | -25.19% | 118.2% | 87.5% | -20% | 90.72% | -82.95% |
Texas CRE concentration exposure
According to recent SEC filings, Cadence Bank maintained consistent quarterly net income near $130 million throughout 2025, providing a stable foundation for organic capital generation that appears sufficient to support ongoing commercial lending expansion while maintaining regulatory capital ratios well above the required minimum thresholds for regional institutions.
The bank's ability to generate steady net income suggests that the post-merger integration is yielding predictable cash flows. This internal capital generation capacity reduces the immediate necessity for external equity issuance, allowing management to focus on deploying retained earnings into higher-yielding commercial assets.
As reported in financial statements, the bank executed a significant $1.6 billion purchase of investment securities in 2025Q3, following a period of portfolio liquidation, which suggests a strategic shift toward reinvesting excess liquidity into higher-yielding assets to capture potential interest rate tailwinds in the current environment.
The volatility in investment activity, characterized by large purchases and sales, indicates an active management approach to the securities portfolio. Investors should monitor whether these reinvestment cycles successfully improve the net interest margin or if they merely reflect temporary parking of excess liquidity.
Based on the bank's reported figures, dividend payments have remained remarkably consistent at approximately $50 million per quarter, demonstrating a commitment to shareholder returns that appears sustainable given the bank's current earnings profile and the capital flexibility afforded by the recent divestiture of its insurance business.
The minimal level of share buybacks suggests that management is prioritizing capital preservation and organic growth over aggressive equity retirement. This conservative stance on capital return may be prudent given the potential for credit volatility within the bank's concentrated commercial real estate portfolio.
Data from recent income statements shows that provision expenses for loan losses reached $32.0 million in 2025Q3, which may indicate that management is proactively building reserves to mitigate potential credit deterioration within its concentrated commercial real estate portfolio in Texas urban centers as economic conditions evolve.
The upward trend in provisioning relative to earlier periods suggests a cautious outlook on asset quality. This approach appears to be a defensive measure intended to insulate the balance sheet from potential shocks in the commercial lending segment, warranting further investigation into specific loan-to-value trends.
Quick answers to the most common questions about buying CADE stock.
Cadence Bank (CADE) generated $856.7M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Cadence Bank (CADE) generated $776.6M in free cash flow in 2024. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Cadence Bank (CADE) spent $80.1M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2024, Cadence Bank (CADE) returned $192.1M to shareholders via cash dividends and spent $35.4M on share repurchases. This shows the company's commitment to returning capital to its equity investors.