HOUSTON and TUPELO Miss., June 6, 2023 – Cadence Bank (NYSE: CADE) today announced its latest achievement on the Community Reinvestment Act (CRA) performance evaluation conducted by the Federal Deposit Insurance Corporation (FDIC). The bank received an Outstanding overall and in the Investment and Service categories, as well as High Satisfactory in Lending. This recognition solidifies Cadence’s long-standing commitment to supporting and serving its communities.

“We are immensely proud of our team’s exceptional accomplishments, which led to Cadence securing the highest CRA rating. This recognition from the regulators is a testament to our unwavering dedication to promoting economic growth and advancing financial inclusion, particularly in low- and moderate-income areas within the communities we serve,” said  Dan Rollins, chairman and CEO of Cadence Bank. 

Key highlights from the report include the following achievements:

• Small business lending levels reflected excellent responsiveness to assessment area credit needs. For 2020, the bank originated 20,375 reportable small business loans totaling nearly $1.8 billion inside its assessment areas. This volume of activity ranks the bank tenth out of 489 total lenders in the bank’s assessment areas.
• Home mortgage lending levels also reflected excellent responsiveness, leading to over 16,500 reportable home mortgage loans totaling approximately $3.8 billion in its assessment areas in 2020. This volume of activity ranked Cadence seventeenth out of 2,009 total lenders in the bank’s assessment areas.
• Cadence Bank continued to support affordable housing initiatives and originated a $5.8 million loan utilizing a Low-Income Housing Tax Credit to create 100 units of affordable housing.
• The bank’s $169.8 million in complex investments addressed affordable housing needs, community service and economic development with approximately $130.6 million, $13.5 million and $25.7 million, respectively.
• Over 40% of the dollar volume of all community development loans helped to revitalize or stabilize low- and moderate-income geographies; another 26.4% promoted affordable housing. Furthermore, an additional 24.5% benefitted community services for low- and moderate-income individuals and 8.8% promoted economic development.
• The bank’s COVID-19 response included participation in the Small Business Administration’s Paycheck Protection Program. At the peak level in 2020, the bank approved payment deferrals for more than 7,700 loans totaling $3.4 billion. Over $200 million in loans received accommodations primarily in the form of interest-only payments for up to nine months. 
• During the pandemic, several communities were impacted by hurricanes and tropical storms. The bank’s disaster recovery team provided various forms of relief and support.
• Cadence continued to invest in innovation. Digital banking channels expanded access to banking services for low- and moderate-income individuals or within low- or moderate-income tracts during the evaluation period.

Rollins continued: “The rarity of receiving an Outstanding rating from banking regulators is evident from the limited number of banks that achieve this distinction annually. With a long-standing legacy of nearly 150 years in community banking, this rating solidifies and confirms our ongoing commitment to making positive contributions to individuals and businesses across our nine-state footprint. Serving these communities is a privilege, and these evaluation results exemplify the profound impact our team members make each day.”

Cadence is committed to immersing itself fully in the communities it serves. To learn more about Cadence Bank, visit CadenceBank.com.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a leading regional banking franchise with more than $50 billion in assets and over 350 branch locations across the South and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities. Cadence Bank, Member FDIC. Equal Housing Lender.

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Sheena Cochran
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