BancorpSouth Bank has started its operational activity under the banner of Cadence Bank. As per the most recent updates, BancorpSouth Bank has followed its merger with Cadence Bancorporation.

It is popular because it delivers a range of financial services. These services most commonly include; retail and corporate banking, wealth management, and various account types such as checking, savings, and individual retirement accounts.

The bank also offers significant loans for personal, auto, and home equity needs. On the other hand, the mortgage purposes, along with treasury management, merchant services, leasing, and wealth management services are also very commendable.

To provide more comprehensive details about the bank, here is the review guide stated next. That will cover each of the details in a very precise manner, especially for the needs and preferences of the customers.

Let’s explore the details in the section below.

Bank Overview

In terms of financial services, Cadence Bank is known to have an extremely great revenue that is around $2.1 billion. This revenue statistics is mainly for 2023, which has increased 63% from the past 2022.

Apart from the revenue, the bank has also worked effortlessly to increase its net income. It has been growing by 137.4% in 2023 in comparison with 2022. In addition to this, the Cadence Bank had a market capitalization of $5.3 billion and the bank has employed almost 4,596 people for the service of the consumers.

BancorpSouth Locations

The bank is operated in the United States. It has a headquarters in Tupelo, Mississippi.

It facilitates individuals, corporations, and all other small & medium-sized enterprises. It comprises high net-worth individuals and families from all across the several states. The popular states include;

There are certainly some specified reasons available due to which people do not rely on this bank. One of the reasons includes the limited approach of the bank within limited and eight states only.

Checking Accounts

‚ÄčBancorpSouth Bank is now being operated as a Cadence Bank. This bank is offering several varieties of checking accounts. These accounts are specifically designed to deal with the varied customer needs. Some of the most popular account options include;

Checking AccountMinimum Opening BalanceFeaturesAdditional Perks
My Way Checking$50Standard checking account featuresNot Available
Performance Checking$50Higher interest rates, refunds on foreign ATM fees under certain conditionsNot Available
Interest Plus Checking$1,000Tiered interest rates, increasing with higher balancesNot Available
Heritage Checking$50Interest earnings, tailored for customers aged 62 and overAdditional perks for senior customers
Budget Smart Checking$25Emphasis on effective financial management, designed to help avoid overspending and stay on track with financial goalsNot Available

When choosing or considering any of the above-mentioned checking accounts with BancorpSouth (Cadence Bank), one must weigh the monthly service charges, its minimum balance requirements, and most importantly the benefits aligned with each account. These benefits make the bank the best find and suitable fit for your financial situation and goals.

Saving Accounts

In addition to Cadence Bank, the bank also offers a great deal of savings options. It caters to the different financial goals and preferences of the investors. The most precise savings account offerings include:

Savings AccountMinimum Opening BalanceInterest StructureAdditional Features
My Goal Savings$100Compounded daily, credited monthlyClassic design, simplicity
Performance Savings$50Compounded daily, credited monthlyHigher interest rates
Select Savings$1,000Accrues quarterlyIdeal for individuals with higher balances
Young Savers$10Compounded and credited quarterlyAimed at youth (18 and younger), transitions to Personal Savings later

Common Features

  • Interest is compounded daily and might be credited monthly
  • Each account has its specific focus, whether simplicity, higher interest rates, or catering to youth.

CD Rates and Money Market Accounts

For their money market accounts, Cadence Bank is known to focus on two different main options:

Money Market AccountMinimum Opening BalanceMinimum Daily Balance for InterestMonthly FeeFee Waiver ConditionInterest Structure
Advantage Money Market$50$1,500$10Maintain a total balance of $5,000Compounded and credited monthly
High Yield Money Market 150$50$100,000$10Not waivableCompounded monthly

Common Features

  • Minimum opening deposit of $50 for both accounts.
  • Monthly fee of $10 for both accounts.

Differences

  • Advantage Money Market requires a minimum daily balance of $1,500 to earn interest, while High Yield Money Market 150 has a higher minimum balance requirement of $100,000.
  • Advantage Money Market’s monthly fee can be waived by maintaining a total balance of $5,000, while High Yield Money Market 150’s fee is not waivable.
  • Both accounts have interest compounded and credited monthly.

Mortgage Loans

Mortgage Services at Cadence Bank are precisely designed and are highly compatible to deal with the modernized financial needs of potential investors. The investors go through deep research before making a choice and reach out a well-defined decision output.

Mortgage TypeDescriptionKey Features
Fixed-Rate MortgagesIdeal for those seeking a consistent payment structure over the loan term. Available in different time spanPredictable payments available.
Adjustable-Rate MortgagesSuited for individuals planning to move or refinance in a few years. Initial rates are lower than fixed-rate mortgages but can fluctuate after the initial term.Reasonable and Low initial rates
FHA LoansBacked by the Federal Housing Administration, designed for low-to-moderate-income borrowers.Low down payments neededFlexibility and convenience
VA LoansSpecifically for veterans, active-duty service members, and their families. No private mortgage insurance.Special benefits available for military personnel.
Jumbo LoansFor properties exceeding conforming loan limits set by Fannie Mae and Freddie Mac. Ideal for purchasing high-value properties.Tailored for high-value property purchases; amounts exceed standard loan limit

In addition to all this, the bank account options are greatly varied for the seniors as well as the students. On the other hand, the relationship accounts can potentially earn higher interest on all balances in comparison to the other individual banks.

Furthermore, they provide a high level of 24-hour customer service that enables customers to conduct their banking through online or other mobile app means.

Additional Loan Products

From the perspective of additional loan features, Cadence Bank stands out as a credible and highly authentic option. Some of the most crucial product categories are;

Loan TypeDescriptionKey Features
Personal LoansUnsecured loans for personal needs such as debt consolidation, home improvements, or major purchases.No collateral required; flexible use for various personal purposes.
Auto LoansFinancing options for new and used vehicles, featuring competitive rates and terms.Tailored for vehicle purchases; options for both new and used cars.
Commercial LoansTailored for businesses of all sizes, covering needs like expansion, equipment financing, or working capital.Designed for business purposes; various financing options available.
Lines of CreditBoth secured and unsecured options for personal and business use, providing flexibility and access to funds as needed.Flexibility in accessing funds; suitable for various personal or business needs.

Additional Products and Services

Other than the banking services, the Cadence Bank has the greatest attraction for insurance coverage. The coverage falls for precise domains that include life, non-life, accidents, healthcare, and business, as well as advisory and planning.

Everything is relevant in consideration of credit and debit; It is mainly adjourned to authentically identify the protection, money management, retirement, homeownership, family finances, and college payment credentials.

Comparison Overview with Other Institutes

The fine comparison approach of the concerned bank with its competitors is considerable. Here is the basic overview stated next;

FeatureCadence BankColumbia Banking System
Institutional Ownership80.2%89.8%
Insider Ownership2.6%0.6%
Analyst RatingsMixed (Buy & Hold)Mainly Hold
Community Outperform Votes60.32%46.11%
Dividend Yield3.3%5.6%
Payout Ratio46.5%69.2%
Revenue$2.05 Billion$1.82 Billion
Net Income$463.24 Million$250.18 Million
Price-to-Earnings Ratio14.2912.34
Media Sentiment (Previous Week)NeutralMore Favorable

Pros and Cons Analysis

Pros

  1. It is known to hold a wide range of services. The services are; types of loans, banking, and investment options.
  2. It conveniently advocates for financial solutions so that it can meet individual customer needs.
  3. Online banking and mobile apps are highly appreciated for convenient account management.
  4. It delivers the most comprehensive commercial banking solutions.
  5. Specialized Loan Options are available that include FHA and VA loans. Both are specified for dealing with specific segments like veterans.

Cons

  1. Primarily serves customers in the United States.
  2. Loan and savings interest rates can fluctuate, affecting affordability and returns.
  3. Some accounts and services might come with fees or minimum balance requirements.

Customer Reviews

  • Customers praise the personalized services and kindness of the staff.
  • The mobile banking app is highly appreciated due to its user-friendly interface.
  • A few customers reported delays in loan processing.
  • In some cases, the customers have expressed dissatisfaction with the fees that are associated with certain accounts or services.

Final Personal Review

Cadence Bank is known for its comprehensive range of services. The services range from personal banking to commercial loans. These services are highly significant in terms of strength. Their ability is the specialized offer products that mainly include FHA and VA loans.

The efforts of the bank are credible for the personalized solutions and its focus on customer service is extremely commendable.

Conclusion

Overall, the reliability, and credibility of the bank can not be questioned in any way. The interest rates, mortgage loans, certificate of deposit, and all other relevant credentials are highly authenticated.

These unique and well-defined credentials are the main elements that define Cadence Bank as a top-rated financial institute in the scenarios of financial investment.

FAQs

What mortgage options does Cadence Bank offer?

Fixed and adjustable-rate mortgages, FHA and VA loans, and jumbo loans.

Are there any mobile banking features available?

Yes, Cadence Bank offers a mobile app for account management, funds transfer, and bill payments.

Does the bank offer services for businesses?

Yes, including commercial loans, treasury management, and merchant services.

Are there fees for checking or savings accounts?

This depends on the type of account; some may have fees or minimum balance requirements.

How does Cadence Bank support community development?

Through various programs and loans that support affordable housing, community services, and economic development.