Cadence Bank reports net loss of $7.5M
STARKVILLE — Cadence Financial Corp., parent of Cadence Bank, has reported a net loss of $7.5 million, or 63 cents per share, for the third quarter ended Sept. 30.
That compares to a net loss of $13.1 million, or $1.10 per share, for the third quarter of 2009.
It is the final quarterly report before shareholders meet Dec. 9 to decide whether to accept a buyout from Houston, Texas-based Community Bancorp that would take the company private.
The company reported that the decline in its third-quarter loss was due to a decrease in its provision for loan losses and lower operating expenses. The provision for loan losses dropped to $8.5 million in the third quarter of 2010 compared to $20.7 million in year-ago quarter, due primarily to lower charge-offs.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Shale oil: market correction or longterm direction?
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- J.McLaughlin to open in Highland Village next spring
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- New Mississippi state highway map is available for the public
- Hyatt-Place is Columbus’ newest hotel option
- DAVID DALLAS: Who in the Hell are We?
- Analysts hail BancorpSouth stock buyback as ‘handsome’ reward for shareholders
- Tanger Outlets involved in Southaven project