Cadence Financial Corp. has reported a net loss of $14.7 million, or $1.23 cents per diluted share, for the second quarter that ended June 30.

Cadence Financial reported a net income of $1.9 million, or 16 cents per diluted share, for the second quarter of 2008. The Starkville-based company attributed the 2009 second-quarter loss largely to customer loans in the residential construction and development sectors.

Cadence is a $2 billion financial holding company with banking and other services in Mississippi, Tennessee, Alabama, Florida and Georgia.

The holding company issued up to $44 million in senior preferred shares in January.