Cadence Bancorp (NYSE: CADE) stock lost over 1.6% on 28^th January 2019 (as of 11:33 am GMT-5; Source: Google finance) after the company posted mixed results for the fourth quarter of FY 18. The net charge-offs as a percent of average loans remained very low during the year at 0.06% for both 2018 and 2017. NPAs as a percent of total loans, OREO and other NPAs also remained relatively stable ending the year at 0.8% compared to 0.9% and 0.7% as of December 31, 2017 and September 30, 2018, respectively. NPAs has totaled $82.4 million, $70.7 million and $62.8 million as of December 31, 2018, December 31, 2017 and September 30, 2018, respectively. Loan loss provision was $8.4 million for the fourth quarter of 2018 as compared to reversals of ($4.5) million in the prior year’s quarter. The fourth quarter 2018 provision was due to the quarter’s loan growth, increased qualitative adjustments related to the recent volatility in oil prices and certain economic factors and an increase in specific reserves, partially offset by a net reduction from credit migration and pay-offs during the quarter.

CADE in the fourth quarter of FY 18 has reported the adjusted earnings per share of 50 cents, missing the analysts’ estimates for the adjusted earnings per share of 54 cents.  The company had reported the adjusted revenue growth of 9.3 percent to $124.15 million in the fourth quarter of FY 18, beating the analysts’ estimates for revenue by 0.49%. The revenue increases were primarily due to strong loan and deposit growth during the period combined with relatively stable margins. For 2018, total operating revenue was $482.4 million compared to $426.1 million for 2017.

Net interest income for the fourth quarter of 2018 was $103.1 million, an increase of 17.3%, from the same period in 2017, and an increase of $5.0 million, or 5.1%, from the third quarter of 2018. CADE’s fully tax-equivalent NIM was relatively stable throughout 2018, and down slightly in the fourth quarter of 2018 to 3.55% as compared to 3.59% for the fourth quarter of 2017 and 3.58% for the third quarter of 2018.

CADE has declared a quarterly cash dividend in the amount of $0.175 per share of outstanding common stock, representing an annualized dividend of $0.70 per share. The dividend will be paid on March 15, 2019 to holders of record of Cadence’s Class A common stock on March 1, 2019