Condensed Financial Information of Cadence Bancorporation (Parent Only)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Of Parent Company Only Disclosure Abstract

Condensed Financial Information of Cadence Bancorporation (Parent Only)

Note 23—Condensed Financial Information of Cadence Bancorporation (Parent Only)

Condensed Balance Sheets

December 31, 2018 and 2017

(In thousands)	2018			2017
ASSETS
Cash and due from banks	$	985		$	494
Interest-bearing deposits with banks		114,871			150,587
Investment in consolidated bank subsidiary		1,593,469			1,488,223
Investment in consolidated nonbank subsidiary		16,787			16,008
Other assets		15,126			3,587
Total Assets	$	1,741,238		$	1,658,899
LIABILITIES AND SHAREHOLDER’S EQUITY
Liabilities:
Interest payable	$	818		$	813
Senior debt		184,801			184,629
Subordinated debt		74,158			73,982
Junior subordinated debentures		36,953			36,472
Other liabilities		6,234			3,947
Total liabilities		302,964			299,843
Shareholder’s Equity:
Common stock		836			836
Additional paid-in capital		1,041,000			1,037,040
Treasury stock		(22,010	)		—
Retained earnings		461,360			340,213
Accumulated other comprehensive loss		(42,912	)		(19,033	)
Total Shareholders' Equity		1,438,274			1,359,056
Total Liabilities and Shareholders' Equity	$	1,741,238		$	1,658,899

Condensed Statements of Income

For the Years Ended December 31, 2018, 2017 and 2016

(In thousands)	2018			2017			2016
INCOME
Dividends from bank subsidiary	$	59,494		$	11,000		$	13,500
Interest income		73			65			25
Other income		516			632			176
Total income		60,083			11,697			13,701
EXPENSES
Interest expense		17,626			17,424			18,060
Other expenses		7,048			3,305			2,092
Total expenses		24,674			20,729			20,152
Income (loss) before income taxes and equity in undistributed income    of subsidiaries		35,409			(9,032	)		(6,451	)
Equity in undistributed income of subsidiaries		125,727			103,390			64,424
Net income before income taxes		161,136			94,358			57,973
Income tax benefit		(5,125	)		(7,995	)		(7,801	)
Net income	$	166,261		$	102,353		$	65,774

Condensed Statements of Cash Flows

For the Years Ended December 31, 2018, 2017 and 2016

(In thousands)	2018			2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	166,261		$	102,353		$	65,774
Adjustments to reconcile net income to net cash provided in operations:
Deferred income tax expense		358			1,084			(1,598	)
Equity in undistributed income of subsidiaries		(125,727	)		(103,390	)		(64,424	)
(Increase) decrease in other assets		(10,143	)		3,892			3,043
Increase (decrease) in interest payable		5			3			(102	)
Increase (decrease) in other liabilities		2,151			891			(504	)
Net cash provided by operating activities		32,905			4,833			2,189
CASH FLOWS FROM INVESTING ACTIVITIES
Capital contributions to bank subsidiary		—			(50,000	)		—
(Increase) decrease in limited partnership investments		(125	)		(63	)		463
Net cash (used in) provided by investing activities		(125	)		(50,063	)		463
CASH FLOWS FROM FINANCING ACTIVITIES
Purchase of senior debt		—			(9,600	)		(78	)
Proceeds from issuance of common stock		—			155,581			—
Cash dividends paid on common stock		(45,995	)		—			—
Repurchase of common stock		(22,010	)		—			—
Net cash (used in) provided by financing activities		(68,005	)		145,981			(78	)
Net (decrease) increase in cash and cash equivalents		(35,225	)		100,751			2,574
Cash and cash equivalents at beginning of year		151,081			50,330			47,756
Cash and cash equivalents at end of year	$	115,856		$	151,081		$	50,330