Another steady retreat from a regional bank

By Geert De Lombaerde Posted on October 27, 2009 at 10:18 am

Similar to Green Bankshares, Mississippi-based Cadence Financial is flushing out of its system a bunch of soured Middle Tennessee real estate loans. Cadence’s Sept. 30 exposure to Nashville’s development scene totaled $122 million, down 15 percent from June 30 – versus Cadence’s companwide shrinkage of 3 percent – and a whopping 38 percent from the end of 2008.

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Tags: banking, Cadence Financial Corp., loan losses, residential real estate  

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