Huntington Bancshares Incorporated (HBAN) completed a definitive agreement to acquire Cadence Bank for $7.4 billion in an all‑stock transaction, with an exchange ratio of 2.475 Huntington shares for each Cadence share. The deal values each Cadence share at $39.77, based on Huntington’s closing price of $16.07 on October 24, 2025.
Cadence Bank, a $53 billion regional bank headquartered in Houston, Texas, and Tupelo, Mississippi, operates more than 390 locations across Texas, Mississippi, Alabama, Arkansas, Florida, Georgia, Louisiana, Missouri, and Tennessee. The combined entity will have $276 billion in assets—pro‑forma figures that include adjustments beyond the simple sum of Huntington’s $210 billion and Cadence’s $53 billion—and will become the top‑10 U.S. regional bank by assets.
The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and shareholder consent. Upon completion, Cadence’s branches will be rebranded as Huntington Bank in Q2 2026, and Huntington will retain all Cadence locations, with no branch closures announced. Cadence’s CEO, James D. “Dan” Rollins III, will join Huntington’s board as non‑executive vice chairman, along with two additional Cadence directors. Huntington’s legal advisor is Davis Polk & Wardwell, while Cadence’s advisor is Skadden, Arps, Slate, Meagher & Flom.
The deal includes a premium of approximately 12% over Cadence’s most recent closing price and is projected to be 10% accretive to Huntington’s earnings per share. The acquisition expands Huntington’s footprint to 12 of the top 25 metropolitan statistical areas, positions the combined bank as the number one bank in Mississippi, and places it in the top 10 by deposits in Alabama and Arkansas.
The combined entity will maintain dual headquarters in Houston and Tupelo, reflecting Cadence’s existing dual‑headquarters structure. This acquisition follows Huntington’s July 2025 purchase of Texas‑based Veritex Community Bank for $1.9 billion, marking its second major expansion into the southern United States in 2025. The deal is part of a broader trend of regional bank consolidation aimed at achieving scale and competitiveness against larger national institutions.
The transaction is expected to strengthen Huntington’s capital position, broaden its commercial banking capabilities, and provide a platform for future organic and inorganic growth in the South.
Overall, the acquisition represents a significant expansion that materially increases Huntington’s market reach and earnings potential.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.