TUPELO, Miss. (AP) — TUPELO, Miss. (AP) — Cadence Bank (CADE) on Thursday reported fourth-quarter net income of $146.7 million.
The bank, based in Tupelo, Mississippi, said it had earnings of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 85 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The bank posted revenue of $788.5 million in the period. Its revenue net of interest expense was $528.4 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $523.7 million.
For the year, the company reported profit of $544.5 million, or $2.83 per share. Revenue was reported as $1.97 billion.
Cadence shares have climbed 8.5% since the beginning of the year. The stock has climbed 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CADE at https://www.zacks.com/ap/CADE
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