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Huntington to Expand South U.S. Presence With Cadence Bank Buyout
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Key Takeaways
{\"0\":\"Huntington will acquire Cadence Bank in a $7.4B all-stock deal, expanding its reach in the South.\",\"1\":\"The merger adds $53B in assets and ranks the combined bank fifth in deposits in Dallas and Houston.\",\"2\":\"Deal expected to close in early 2026, extending Huntington\'s franchise to 21 states and 12 metropolitan areas.\"}
Huntington Bancshares Incorporated (HBAN - Free Report) has entered into a definitive agreement to acquire Cadence Bank, a regional financial institution with $53 billion in assets headquartered in Houston, Texas and Tupelo, MS.
The all-stock transaction, valued at approximately $7.4 billion, establishes Huntington’s strategic presence across the South with immediate scale in Texas and Mississippi.
Terms & Financial Details of the HBAN Deal
Under the agreement, Cadence shareholders will receive 2.475 shares of Huntington common stock for each share of Cadence common stock. Based on Huntington’s closing price of $16.07 on Oct. 24, 2025, the deal implies a value of $39.77 per Cadence share.
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 an earn-back period of about three years, including merger expenses.
The deal, subject to regulatory and shareholder approvals, is anticipated to close in the first quarter of 2026, with system conversion expected in the second quarter of 2026. Following completion, Cadence Bank’s teams and branches will transition to the Huntington brand.
Rationale Behind the HBAN–Cadence Deal
The acquisition represents a pivotal step in Huntington’s long-term strategy to build a nationwide, customer-centered banking franchise focused on high-growth markets.
With more than 390 locations across Texas and the South, the addition of Cadence enhances Huntington’s scale and market depth. The combined company will rank fifth by deposit market share in both Dallas and Houston, and the eighth deposit market share across the state of Texas. Huntington will also become a top-10 bank in Alabama and Arkansas by deposits.
The deal expands Huntington’s footprint across several high-growth markets, including Houston, Dallas, Fort Worth, Austin, Atlanta, Nashville, Orlando, and Tampa, providing a strong foundation for organic investment and long-term growth. Following completion, Huntington will have a strategic footprint in 12 of the 25 largest U.S. metropolitan areas, including six of the 10 fastest-growing regions.
Steve Steinour, chairman, president and CEO of Huntington Bancshares, stated, “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. Today's announcement represents a significant step on our journey to be the leading people-first, customer-centered bank in the country.”
Huntington’s Prior Expansion Efforts
The company has been steadily reinforcing its expansion strategy in Texas and other high-growth regions across the South through targeted mergers and geographic diversification. Last week, the company completed the acquisition of Veritex Holdings, Inc., strengthening its presence in Texas by expanding across Dallas/Fort Worth and Houston.
In March 2024, HBAN announced plans to expand its commercial banking business in Texas, following its footprint extension in the Dallas-Fort Worth area in early 2024.
As part of its ongoing geographic and vertical expansion, the company broadened its middle-market banking presence in Texas. In January 2025, Huntington introduced two new verticals, the Financial Institutions Group and the Aerospace & Defense Group, as part of its ongoing geographic and vertical expansion. Both verticals offer advisory services and corporate banking solutions, including liquidity and treasury management, capital markets and corporate finance.
These strategic efforts are expected to broaden HBAN’s market presence and attract new customer segments across the region.
HBAN’s Price Performance & Zacks Rank
Over the six months, shares of Huntington have risen 6.8% compared with the industry’s growth of 5.3%.
Earlier this month, Fifth Third Bancorp (FITB - Free Report) entered a definitive merger agreement to acquire Comerica Incorporated (CMA - Free Report) in an all-stock transaction valued at $10.9 billion. The transaction is projected to close at the end of the first quarter of 2026.
The impending acquisition serves as a strategic acceleration of FITB’s long-term growth plan, enhancing scale, profitability, and geographic reach. By integrating Fifth Third’s retail and digital banking platforms with CMA’s strong middle-market expertise and attractive regional footprint, the merger enhances Fifth Third’s presence across high-growth markets.
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Huntington to Expand South U.S. Presence With Cadence Bank Buyout
Key Takeaways
Huntington Bancshares Incorporated (HBAN - Free Report) has entered into a definitive agreement to acquire Cadence Bank, a regional financial institution with $53 billion in assets headquartered in Houston, Texas and Tupelo, MS.
The all-stock transaction, valued at approximately $7.4 billion, establishes Huntington’s strategic presence across the South with immediate scale in Texas and Mississippi.
Terms & Financial Details of the HBAN Deal
Under the agreement, Cadence shareholders will receive 2.475 shares of Huntington common stock for each share of Cadence common stock. Based on Huntington’s closing price of $16.07 on Oct. 24, 2025, the deal implies a value of $39.77 per Cadence share.
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 an earn-back period of about three years, including merger expenses.
The deal, subject to regulatory and shareholder approvals, is anticipated to close in the first quarter of 2026, with system conversion expected in the second quarter of 2026. Following completion, Cadence Bank’s teams and branches will transition to the Huntington brand.
Rationale Behind the HBAN–Cadence Deal
The acquisition represents a pivotal step in Huntington’s long-term strategy to build a nationwide, customer-centered banking franchise focused on high-growth markets.
With more than 390 locations across Texas and the South, the addition of Cadence enhances Huntington’s scale and market depth. The combined company will rank fifth by deposit market share in both Dallas and Houston, and the eighth deposit market share across the state of Texas. Huntington will also become a top-10 bank in Alabama and Arkansas by deposits.
The deal expands Huntington’s footprint across several high-growth markets, including Houston, Dallas, Fort Worth, Austin, Atlanta, Nashville, Orlando, and Tampa, providing a strong foundation for organic investment and long-term growth. Following completion, Huntington will have a strategic footprint in 12 of the 25 largest U.S. metropolitan areas, including six of the 10 fastest-growing regions.
Steve Steinour, chairman, president and CEO of Huntington Bancshares, stated, “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. Today's announcement represents a significant step on our journey to be the leading people-first, customer-centered bank in the country.”
Huntington’s Prior Expansion Efforts
The company has been steadily reinforcing its expansion strategy in Texas and other high-growth regions across the South through targeted mergers and geographic diversification. Last week, the company completed the acquisition of Veritex Holdings, Inc., strengthening its presence in Texas by expanding across Dallas/Fort Worth and Houston.
In March 2024, HBAN announced plans to expand its commercial banking business in Texas, following its footprint extension in the Dallas-Fort Worth area in early 2024.
As part of its ongoing geographic and vertical expansion, the company broadened its middle-market banking presence in Texas. In January 2025, Huntington introduced two new verticals, the Financial Institutions Group and the Aerospace & Defense Group, as part of its ongoing geographic and vertical expansion. Both verticals offer advisory services and corporate banking solutions, including liquidity and treasury management, capital markets and corporate finance.
These strategic efforts are expected to broaden HBAN’s market presence and attract new customer segments across the region.
HBAN’s Price Performance & Zacks Rank
Over the six months, shares of Huntington have risen 6.8% compared with the industry’s growth of 5.3%.
Image Source: Zacks Investment Research
HBAN currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Finance Firms Taking Similar Steps
Earlier this month, Fifth Third Bancorp (FITB - Free Report) entered a definitive merger agreement to acquire Comerica Incorporated (CMA - Free Report) in an all-stock transaction valued at $10.9 billion. The transaction is projected to close at the end of the first quarter of 2026.
The impending acquisition serves as a strategic acceleration of FITB’s long-term growth plan, enhancing scale, profitability, and geographic reach. By integrating Fifth Third’s retail and digital banking platforms with CMA’s strong middle-market expertise and attractive regional footprint, the merger enhances Fifth Third’s presence across high-growth markets.