FCNCA - With The Business Stabilizing Cadence Bancorporation May Be Looking For An Exit
- Bloomberg has reported that Cadence has approached financial advisors to gauge interest in a sale of the business.
- Cadence has seen significantly elevated credit losses for over a year, and the bank's criticized loan and at-risk portfolio numbers remain high, though reserves and capital are strong.
- There are several banks that could be interested in strong deposit share in Houston, Birmingham, Atlanta, and Tampa, including Regions, Truist, and Zions.
- Cadence is now priced close to standalone fair value, but a deal could value the bank at $25 or more.
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With The Business Stabilizing, Cadence Bancorporation May Be Looking For An Exit