Huntington Bancshares Incorporated has announced its definitive agreement to acquire Cadence Bank, a $53 billion regional bank headquartered in Houston, Texas and Tupelo, Mississippi. This acquisition will give Huntington a strategic presence across the South, with immediate scale in Texas and Mississippi. It will also create a platform for further organic investment through a presence in high-growth markets, including Houston, Dallas, Fort Worth, Austin, Atlanta, Nashville, Orlando, and Tampa.
Upon completion, Huntington will have a strategic presence in 12 of the top 25 metropolitan statistical areas (MSAs) in the country, including six of the top 10 fastest-growing MSAs. The acquisition will establish Huntington as a top 10 bank with assets of $276 billion and deposits of $220 billion.
This transaction is projected to be 10% accretive to Huntington's earnings per share, mildly dilutive to regulatory capital at close, and 7% dilutive to tangible book value per share with earn-back in three years inclusive of merger expenses.
Huntington will issue 2.475 shares of common stock for each outstanding share of Cadence common stock in a 100% stock transaction. Based on Huntington's closing price of $16.07 as of October 24, 2025, the consideration implies $39.77 per Cadence share or an aggregate transaction value of $7.4 billion.
The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals, approval by Huntington and Cadence shareholders, and other customary closing conditions. Upon conversion, which is expected in the second quarter of 2026, Cadence Bank teams and branches will operate under the Huntington Bank name and brand.
Huntington's fair play philosophy, launched in 2010, focuses on providing services without hidden fees or asterisks and delivering fair and safe access to banking for consumers. Through this combination, Cadence customers will have access to Huntington’s full suite of fair play product features, including 24-hour grace®, standby cash®, and early pay.
James D. “Dan” Rollins III, Chairman and Chief Executive Officer of Cadence Bank, will join Huntington as Non-Executive Vice Chairman of the Board of Directors of Huntington Bancshares Incorporated, as well as a director of Huntington Bancshares Incorporated and the Huntington National Bank. Huntington will be inviting two additional members from Cadence to join the board of directors.
This acquisition represents a significant step in Huntington’s journey to be the leading people-first, customer-centered bank in the country. The market has reacted to these announcements by moving the company's shares 1.32% to a price of $16.07. For more information, read the company's full 8-K submission here.
