Cadence Bancorporation (CADE, Financial) (CADE - $8.86 - NYSE) is a mid-sized commercial bank operating in the Gulf South region of the US. Credit quality has been a concern at Cadence for the last year as it saw some early problems in some of its loan portfolios. Investors expect these to accelerate due to the economic weakness brought on by the COVID pandemic. Cadence built reserves signi cantly with its rst quarter earnings report, but also wrote down most of its acquisition goodwill and cut its dividend signi cantly.
From Keeley Asset Management Corp (Trades, Portfolio)'s Small Cap Dividend Value Fund second-quarter 2020 commentary.
