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Article: Cadence Financial Corporation Reports Third Quarter Results.
- Article from:
- Insurance Business Weekly
- Article date:
- November 15, 2009
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Cadence Financial Corporation (NASDAQ: CADE), a $1.8 billion bank holding company whose principal subsidiary is Cadence Bank, N.A., reported a net loss applicable to common shareholders of $13.1 million, or $1.10 per diluted share, for the third quarter ended September 30, 2009, compared with a net loss of $5.3 million, or $0.44 per diluted share, for the third quarter of 2008. The loss for the 2009 period was due primarily to a high provision for loan losses and higher non-interest expenses related to increased FDIC premiums, and nonrecurring expenses related to early extinguishment of debt and those associated with our efforts to raise capital.
"We are making ...