Huntington Bancshares to Acquire Cadence Bank in $7.4B All-Stock Deal
Huntington Bancshares Incorporated has agreed to acquire Cadence Bank, a $53 billion regional bank headquartered in Houston, Texas, and Tupelo, Mississippi, in an all-stock transaction valued at approximately $7.4 billion. The combination strengthens its position across key Southern markets and adds significant scale in Texas.
Huntington will issue 2.475 shares of its common stock for each share of Cadence stock outstanding. Based on Huntington’s closing price of $16.07 on October 24, 2025, the transaction values Cadence shares at $39.77 each.
With more than 390 Cadence locations across Texas and the broader Southern U.S., the acquisition significantly enhances Huntington’s retail and commercial banking footprint. Combined with Huntington’s recent acquisition of Veritex Community Bank, the deal positions the bank as fifthcin deposit market share in Dallas and Houston, eighth across Texas, and first in Mississippi, with top-10 deposit rankings in both Alabama and Arkansas. Following the close, Huntington will operate in 21 states, extending from the Midwest to the Gulf South and Texas.
“This partnership will extend the reach of our full franchise to 21 states—stretching from the Midwest to the South to Texas—and into new, high-growth markets for which we have a powerful playbook,” said Steve Steinour, Chairman, President, and CEO of Huntington Bancshares.
James D. “Dan” Rollins III, Chairman and CEO of Cadence Bank, will join Huntington Bancshares as Non-Executive Vice Chairman of the Board of Directors, as well as a director of both Huntington Bancshares Incorporated and The Huntington National Bank. Two additional members of the Cadence Board will also join Huntington’s Board upon completion.
Huntington plans to maintain Cadence’s extensive branch network, with no branch closures, and will invest further to drive growth across the combined platform. The transaction is expected to close in the first quarter of 2026, with system conversion anticipated in the second quarter of 2026, at which time Cadence Bank branches will rebrand to Huntington Bank.
Huntington Bancshares was advised by Evercore and BofA Securities, with Wachtell, Lipton, Rosen & Katz serving as legal counsel. Cadence Bank was advised by Keefe, Bruyette & Woods, A Stifel Company, with Sullivan & Cromwell LLP acting as legal counsel.