Huntington Bancshares Incorporated has announced its definitive agreement to acquire Cadence Bank, a regional bank with assets worth $53 billion. The acquisition will position Huntington as the number one bank in Mississippi and a top ten bank in both Alabama and Arkansas by deposits. Following the merger, Huntington will have a strategic presence in 12 of the top 25 metropolitan statistical areas in the country.
The transaction is expected 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's pioneering fair play philosophy focuses on providing services without hidden fees or asterisks and delivering fair and safe access to banking for consumers. 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.
The transaction terms state that 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. As a result of these announcements, the company's shares have moved 1.32% on the market, and are now trading at a price of $16.07. If you want to know more, read the company's complete 8-K report here.
