Here are 1-3 brief analogies to describe Cadence Bank (CADE):

• A smaller, Southern-focused Bank of America.
• A regional U.S. Bank for the Southern U.S.
• A smaller, growing Truist for the South.

• Retail Banking: Provides checking, savings, and money market accounts, along with consumer loans like mortgages and auto loans for individuals.
• Commercial Banking: Offers deposit accounts, commercial real estate loans, lines of credit, and other financing for businesses.
• Treasury Management: Delivers cash management, payment processing, and fraud prevention services to optimize business financial operations.
• Wealth Management & Trust Services: Provides financial planning, investment management, and trust administration for individuals and institutions.

Cadence Bank (CADE) is a financial institution that provides a wide range of banking and financial services. As a bank, its customer base is diverse and typically does not consist of a few named "major customers" in the way a supplier has a major buyer. Instead, Cadence Bank serves broad categories of both individuals and businesses. Therefore, describing customer categories is the most appropriate way to identify its major customers.

Cadence Bank primarily serves the following categories of customers:

• Businesses (Commercial Clients): This is a significant focus for Cadence Bank. They provide banking solutions to a wide range of businesses, from small and medium-sized enterprises (SMEs) to larger corporations. Services include commercial loans and lines of credit, treasury management, equipment financing, real estate lending, and other business banking solutions. These clients span various industries.

• Individuals (Consumer Clients): Cadence Bank serves individual consumers for their personal banking needs. This includes checking and savings accounts, mortgages, home equity loans, personal loans, credit cards, and other retail banking services.

• High-Net-Worth Individuals and Families (Wealth Management Clients): Through its wealth management division, Cadence Bank caters to affluent individuals and families, as well as foundations and endowments. Services in this category include investment management, financial planning, trust and estate services, private banking, and insurance.

• Fidelity National Information Services, Inc. (FIS)
• Fiserv, Inc. (FI)
• Visa Inc. (V)
• Mastercard Incorporated (MA)

James D. "Dan" Rollins III, Chairman & Chief Executive Officer

James D. "Dan" Rollins III has served as CEO of Cadence Bank since November 2012 and was appointed Chairman of the Board in April 2014. With over four decades of experience in the banking industry, Rollins has guided Cadence through significant growth, including multiple acquisitions and the merger of legacy institutions. Before joining Cadence, he was director, president, and Chief Operating Officer of a regional bank holding company (Prosperity Bancshares, Inc.) in Houston, Texas, from 2006 to 2012, and held various leadership roles within that organization starting in 1994. His banking career began in 1978 in Austin, Texas.

Valerie Toalson, Chief Financial Officer and President - Banking Services

Valerie Toalson is the Chief Financial Officer and President - Banking Services of Cadence Bank, having joined in January 2013. She brings over 35 years of extensive banking experience, with more than 19 years dedicated to driving strategy as a CFO and executive management member. Her current responsibilities at Cadence encompass wealth management units, mortgage, treasury and capital markets, corporate development, investor relations, and corporate finance and accounting. Prior to Cadence, Toalson served as CFO of BankAtlantic Bancorp and BankAtlantic N.A., and previously held several senior leadership positions at BOK Financial Corporation, including Corporate Controller, Manager of Credit Services, Manager of Process Improvement, and Chief Auditor. She began her career in audit at Price Waterhouse.

Chris A. Bagley, President and Chief Credit Officer

Chris A. Bagley serves as President and Chief Credit Officer of Cadence Bank, contributing over 38 years of banking experience to his role. He has been with Cadence and its predecessor institutions since 2014, playing a crucial leadership role in credit strategy and enterprise risk management. Before joining Cadence's predecessor, BancorpSouth, Bagley was Chief Credit Officer and an executive officer at Prosperity Bancshares, Inc., where he was part of the bank's seven-person executive committee overseeing all operational functions.

Edward "Billy" H. Braddock, Chief Banking Officer

Edward "Billy" H. Braddock is the Chief Banking Officer of Cadence Bank, with over 30 years of experience in banking and finance. Since joining Cadence in 2011, he has held several key leadership positions, including Chief Credit Officer, Commercial & Industrial Group Manager, Energy Services Group Manager, Special Assets Group Manager, and Treasury Management Executive. Braddock started his banking career at NationsBank, N.A., and later worked in trading and corporate development in the merchant energy sector before returning to banking with BOKF, N.A.

Ty Lambert, Chief Risk Officer

Ty Lambert is the Chief Risk Officer at Cadence Bank, where he leads the company's enterprise-wide risk management strategy. Since joining Cadence in 2006, Lambert has held various senior leadership roles within the company, accumulating over 20 years of experience in financial services with a focus on balance sheet management, corporate planning, data analytics, and risk management. Prior to being appointed Chief Risk Officer in 2020, he served as Cadence's Chief Data Analytics Officer.

The key risks to Cadence Bank's business operations include:

1. Cybersecurity and Information Security Risk: Cadence Bank faces significant threats from cybersecurity attacks, data breaches, and other security incidents. The banking sector is a prime target for cybercriminals, and the bank continuously monitors for new threats and invests resources to improve the security and privacy of its systems and data. Such attacks could lead to financial losses, reputational damage, and operational disruptions.
2. Economic and Market Risk: The bank's financial performance is significantly impacted by general economic, interest rate, and real estate market conditions. Fluctuations in financial markets can affect business trends, customer value, and the value of collateral supporting the bank's loans. Changes in the prices, values, and sales volumes of residential and commercial real estate can particularly influence the bank's assets and profitability.
3. Regulatory and Compliance Risk: As a financial institution, Cadence Bank is subject to extensive and evolving federal and state laws and regulations. Non-compliance with these regulations, including those from the CFPB and provisions of the Gramm-Leach-Bliley Act, could lead to legal issues, increased compliance costs, and limitations on operations, materially impacting the bank's financial condition and fee income.

The clear emerging threats for Cadence Bank (CADE) are:

1. The rapid ascent of fintech companies and neobanks: Digital-first financial institutions and non-bank lenders are increasingly capturing market share by offering highly competitive rates, lower fees, superior mobile-first user experiences, and specialized financial products. These agile competitors attract tech-savvy consumers and small businesses, threatening Cadence's deposit base, consumer lending, and payment processing revenues by disintermediating traditional branch-based banking relationships.
2. The expansion of Big Tech companies into core financial services: Large technology firms such as Apple, Google, and Amazon are leveraging their extensive customer bases, advanced data analytics, and robust technological platforms to offer a growing array of financial products. These include credit cards (e.g., Apple Card), payment solutions, consumer lending, and even banking-like services, directly competing with and potentially disrupting Cadence's traditional revenue streams and customer relationships by offering integrated, convenient, and often lower-cost alternatives.

Cadence Bank (symbol: CADE) offers a range of financial products and services primarily within the U.S. market. Their main offerings include retail banking, commercial banking, wealth management, and mortgage lending.

Addressable Markets for Cadence Bank's Main Products or Services (U.S. Region):

• Retail Banking: The U.S. retail banking market is valued at approximately USD 0.87 trillion (USD 870 billion) in 2025 and is projected to reach USD 1.08 trillion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.22%.
• Commercial Banking: The U.S. commercial banking market is estimated at approximately USD 732.5 billion in 2025 and is forecasted to grow to USD 915.45 billion by 2030, reflecting a CAGR of 4.56%. Another estimate places the market size for commercial banking in the U.S. at $1.6 trillion in 2025.
• Wealth Management: For the U.S. private banking market, which is a component of wealth management services, the market is valued at USD 59.54 billion in 2025 and is expected to reach USD 94.89 billion by 2030, with a CAGR of 9.77%.
• Mortgage Lending (Home Loans): The U.S. home loan market stood at USD 2.29 trillion in 2025 and is forecasted to grow to USD 3.02 trillion by 2030, advancing at a 5.63% CAGR.

1. Integration and Leverage of Recent Acquisitions: Cadence Bank has recently completed the successful acquisition and integration of Industry Bank and First Chatham Bank. This has bolstered the company's market presence and operational efficiency, leading to an increased balance sheet and higher net interest revenue. The ongoing leveraging of these expanded operations and customer base is expected to continue driving revenue growth.
2. Continued Organic Loan Growth: The bank has demonstrated organic loan growth in past quarters and anticipates low to mid-single-digit organic loan growth rates for 2025 and beyond. This expansion of its loan portfolio will directly contribute to increased interest income.
3. Net Interest Margin (NIM) Improvement: Cadence Bank expects to see continued modest improvement in its net interest margin through the end of 2025 and into the following year. This improvement is projected to be driven by enhanced securities yields and a reduction in overall funding costs, directly boosting net interest revenue.
4. Core Deposit Growth and Optimization of Funding Mix: The bank's strategy includes retaining core deposit relationships from acquired entities and optimizing its deposit mix by shifting away from higher-cost time and brokered deposits. This focus on lower-cost core customer deposits aims to reduce funding expenses and enhance overall profitability, thereby supporting revenue expansion.
5. Expansion within High-Growth Markets: Cadence Bank has strategically established a significant presence in high-growth markets across the Southern United States and Texas. This positioning is intended to foster further organic investment and deeper market penetration, driving customer acquisition and increased banking activities.

Share Repurchases

• Cadence Bank authorized a new share repurchase program in April 2025, allowing for the purchase of up to 10 million shares of common stock, subject to Federal Reserve approval, and expiring on December 31, 2025.
• In December 2023, a share repurchase program was authorized to acquire up to 10 million shares of common stock, effective January 2, 2024, and set to expire on December 31, 2024, pending Federal Deposit Insurance Corporation (FDIC) approval.
• During 2024, Cadence Bank repurchased 1,237,021 shares of its common stock.

Share Issuance

• The current Cadence Bank was established through the merger of BancorpSouth Bank and Cadence Bancorporation, which was completed on October 29, 2021.
• As of February 18, 2025, Cadence Bank had 183,525,441 shares of common stock outstanding.
• In an upcoming strategic decision, Huntington Bancshares announced on October 27, 2025, its intention to acquire Cadence Bank in an all-stock transaction valued at $7.4 billion. This transaction will result in Cadence shareholders receiving 2.475 shares of Huntington common stock for each Cadence share.

Inbound Investments

• State Street Corp expanded its holdings in Cadence Bank by acquiring an additional 165,282 shares at a price of $31.85 per share on September 30, 2024.
• Academy Capital Management initiated a new investment of approximately $670,000 in Cadence Bank by purchasing 20,950 shares during the second quarter of 2025.
• Institutional investors collectively held 88.40% of Cadence Bank's outstanding shares as of October 31, 2025.

Outbound Investments

• Cadence Bank completed the acquisition of Industry Bancshares, Inc., the holding company for six Texas banks, on July 1, 2025, for a cash payment of $20 million. This acquisition was considered a strategic use of excess capital, enhancing Cadence's presence in Texas with Industry Bancshares contributing $4.4 billion in assets and $4.5 billion in deposits as of March 31, 2025.
• On November 30, 2023, Cadence Bank sold its insurance subsidiary, Cadence Insurance, to Arthur J. Gallagher & Co. for $904.0 million in cash.
• Cadence Bank completed its merger with FCB Financial Corp., the bank holding company for First Chatham Bank, effective May 1, 2025.