Huntington Bank Completes Merger with Cadence Bank, Expanding Presence Across Texas and the South

Rhea-AI Summary

Huntington Bancshares (Nasdaq: HBAN) has completed its merger with Cadence Bank, creating a combined company with approximately $279 billion in assets, $221 billion in deposits and $187 billion in loans as of Dec. 31, 2025. Cadence's 390 branches expand Huntington's network to nearly 1,400 locations across 21 states.

The deal makes Huntington the eighth-largest bank in Texas and the largest bank in Mississippi by deposit market share. Huntington appointed three former Cadence directors and plans customer account conversions in mid-2026 with no immediate branch closures.

Positive

• Combined balance sheet: $279B assets, $221B deposits, $187B loans
• Network expansion: Cadence adds 390 branches, boosting Huntington to nearly 1,400 locations
• Market positions: 8th-largest bank in Texas and #1 by deposits in Mississippi
• No branch closures: Huntington intends to maintain Cadence's branch network and invest to grow it

Negative

• Customer account conversions to Huntington systems scheduled for mid-2026
• Integration timeline: systems and customer conversions create a discrete operational milestone in mid-2026

News Market Reaction

+2.29%

1 alert

+2.29% News Effect

On the day this news was published, HBAN gained 2.29%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Combined assets: $279 billion Combined deposits: $221 billion Combined loans: $187 billion +5 more

8 metrics

Combined assets $279 billion Combined company assets based on Dec. 31, 2025 balances

Combined deposits $221 billion Combined company deposits as of Dec. 31, 2025

Combined loans $187 billion Combined company loans as of Dec. 31, 2025

Cadence branches 390 branches Cadence locations added across Texas and the South

Total branches nearly 1,400 locations Pro forma Huntington branch network across 21 states

States served 21 states From the Midwest to the South and Texas

Texas ranking 8th-largest bank HBAN’s pro forma deposit share ranking in Texas

Mississippi ranking No. 1 by deposits HBAN’s pro forma deposit market share ranking in Mississippi

Market Reality Check

Price: $17.26 Vol: Volume 183,309,504 is 4.3...

high vol

$17.26 Last Close

Volume Volume 183,309,504 is 4.34x the 20-day average of 42,223,981, indicating heavy trading into the Cadence close. high

Technical Shares trade above the 200-day MA, with price at 17.48 versus 200-day MA of 16.51.

Peers on Argus

HBAN was up 1.1% pre-news with heavy volume, while key peers showed mixed but ge...

HBAN was up 1.1% pre-news with heavy volume, while key peers showed mixed but generally positive moves (e.g., FCNCA +2.1%, FITB +1.13%, RF +0.39% and SHG/CFG slightly negative). Scanner data did not flag a coordinated sector momentum move.

Common Catalyst At least one peer, FITB, also reported M&A and board changes today, suggesting multiple regional banks are executing strategic expansion, though moves appear company-specific rather than a broad sector rotation.

Previous Acquisition Reports

5 past events · Latest: Jan 06 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 06	Merger approvals	Positive	-0.9%	Both Huntington and Cadence shareholders approved the pending merger and share issuance.
Dec 22	Regulatory approval	Positive	-1.1%	OCC and other regulators granted all required approvals for the Cadence merger.
Oct 27	Deal announcement	Positive	-2.7%	Announced 100% stock acquisition of Cadence, valuing the deal at <b>$7.4 billion</b>.
Oct 20	Merger closing	Positive	+2.2%	Completed Veritex merger, lifting assets to <b>$223 billion</b> and over 1,000 branches.
Oct 03	Regulatory approval	Positive	+1.0%	Federal Reserve and OCC approved the Veritex merger, clearing the way for closing.

Pattern Detected

HBAN’s acquisition headlines often produced modest or negative near-term moves, with clearer strength around completed integrations like Veritex, indicating the market sometimes discounts deals until execution is visible.

Recent Company History

Over the past several months, Huntington has pursued an aggressive acquisition strategy. It agreed to acquire Cadence in a stock deal on Oct 27, 2025, then secured all required regulatory approvals, followed by shareholder approvals on Jan 6, 2026. In parallel, it closed the Veritex merger on Oct 20, 2025, materially expanding its Texas footprint. Today’s Cadence-closing announcement advances this multi-step expansion across Texas and the South, building on those prior approvals and integrations.

Historical Comparison

+1.6% avg move · Recent acquisition headlines for HBAN, including Cadence and Veritex, have produced modest average m...

acquisition

+1.6%

Average Historical Move acquisition

Recent acquisition headlines for HBAN, including Cadence and Veritex, have produced modest average moves of 1.56%, with several Cadence milestones met by short-term weakness despite strategic positives.

Acquisition news has followed a clear progression: regulatory approvals and closing for Veritex in late 2025, followed by Cadence’s deal announcement, regulatory sign-off, shareholder approvals, and now full merger completion to create a larger Texas- and South-focused franchise.

Market Pulse Summary

This announcement confirms Huntington’s completion of the Cadence merger, creating a larger regional...

Analysis

This announcement confirms Huntington’s completion of the Cadence merger, creating a larger regional bank with about $279 billion in assets, $221 billion in deposits and nearly 1,400 branches across 21 states. It follows earlier approval and announcement milestones in the acquisition timeline. Investors may watch integration progress, system conversions planned for mid-2026, and how the expanded Texas and Mississippi footprint contributes to earnings growth versus added operational and credit risk.

AI-generated analysis. Not financial advice.

Huntington Bancshares Incorporated's Board of Directors appoints three new board members

COLUMBUS, Ohio, Feb. 2, 2026 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) today announced it has closed its merger with Cadence Bank, a regional bank headquartered in Houston, Texas and Tupelo, Mississippi.

This strategic partnership accelerates Huntington's growth initiatives across Texas and the South and brings immediate scale in Texas and Mississippi, where Huntington is now the eighth-largest bank in Texas and the number one bank in Mississippi by deposit market share.

"We're thrilled to welcome our new colleagues and customers from Cadence to Huntington," said Steve Steinour, chairman, president and CEO of Huntington. "This partnership marks a significant milestone for Huntington and will serve as a springboard for growth across a number of high-growth markets across Texas and the South. I'm incredibly grateful to Dan Rollins and the Cadence team for their collaboration and commitment to this next era of our combined organization."

The combined company has approximately $279 billion in assets, $221 billion in deposits and $187 billion in loans based on Dec. 31, 2025 balances. Cadence's 390 branches across Texas and the South will bolster Huntington's branch network to nearly 1,400 locations across 21 states – from the Midwest to the South to Texas. Huntington intends to maintain Cadence's branch network—with no branch closures—and invest to grow it over time.

"Today is a historic milestone for Cadence and Huntington as we officially unite to forge a top-ten bank nationally with a shared mission to deliver the same relationship-first, community-based approach that our legacies are built on," Rollins said. "Our customers will benefit from Huntington's expanded capabilities and award-winning digital tools. I'm incredibly proud of our teams who made this possible and energized for what's ahead."

"Through this partnership, we are going to deliver even more for our customers," said Brant Standridge, president of Consumer & Regional Banking at Huntington. "Our teams are working closely together so we can quickly deploy the full Huntington franchise into our new markets, to more quickly and seamlessly help customers access the tools and advice that will help them meet their financial goals. I'm deeply grateful to our teams for making this progress possible and excited for the enhanced experience we'll deliver together."

In connection with the acquisition, Huntington's Board of Directors appointed three new directors, all former directors of Cadence Bank:

• James D. "Dan" Rollins III, Chairman and CEO of Cadence Bank, who has joined 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.

Rollins had served as Chairman of Cadence Bank's Board since April 2014 and CEO of Cadence Bank since November 2012. Prior to those roles, Rollins served as president and Chief Operating Officer of Houston-based Prosperity Bancshares, Inc. Throughout his four-decade banking career he also held leadership roles at Matagorda Banking Centers of Prosperity Bank, First State Bank and Trust Company. He also serves as chairman of the North Mississippi Health Services' board of directors and is a member of the finance committee and major gifts committee for the Healthcare Foundation of North Mississippi.

• Virginia Hepner, Retired President and CEO of The Woodruff Arts Center; Retired Wachovia Bank executive

Hepner is a retired banking executive and real estate investor who spent 25 years with Wachovia Bank (a Wells Fargo Company) in various leadership roles, including as Managing Director of U.S. Corporate Finance, the head of Foreign Exchange and Derivatives Trading, and Commercial Banking Director for Atlanta. She also serves on the boards of Oxford Industries, Inc., National Vision Holdings, Inc. and a number of nonprofit organizations.

• Alice Rodriguez, Co-Owner, Kendall Milagro, Inc.; Retired JPMorgan Chase & Co. executive

Rodriguez is a retired banking executive who spent 35 years with JP Morgan Chase & Co in a variety of roles, including as Managing Director, Head of Community Impact and Regional Director, Consumer Banking and Wealth Management. She is Co-Owner of Kendall Milagro, Inc., a Dallas-based boutique home builder and real estate investor. Rodriguez is Past Chair of the United States Hispanic Chamber of Commerce and serves on the boards of Oncor Holdings and a number of nonprofit organizations.

"Huntington is privileged to add these three directors to our Board," said Steinour. "Their unique skillsets and impressive experience will be great complements to our deeply engaged group of directors, who are collectively committed to serving us with a shared vision and shared values in support of all our stakeholders."

Cadence customers will continue to bank as normal at their existing branches, and customer accounts are expected to be converted to Huntington's systems in mid-2026. Cadence customers will receive detailed information about the pending account conversions in the coming weeks. Huntington customers will not be impacted by the conversion.

About Huntington
Huntington Bancshares Incorporated is a $279 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle-market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates nearly 1,400 branches in 21 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

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SOURCE Huntington Bancshares Incorporated

FAQ

What does the Cadence merger mean for Huntington Bancshares (HBAN) balance sheet?

It immediately increases Huntington's scale with $279 billion in assets, $221 billion in deposits, and $187 billion in loans. According to Huntington, those figures are based on Dec. 31, 2025 balances and reflect combined company size.

How many branches will Huntington (HBAN) operate after closing the Cadence merger?

Huntington's network will grow to nearly 1,400 branches after adding Cadence's 390 locations. According to Huntington, the expanded footprint spans 21 states from the Midwest through the South and Texas.

Will Cadence branches close after joining Huntington Bancshares (HBAN)?

No immediate branch closures are planned; Huntington intends to maintain Cadence's branch network and invest to grow it. According to Huntington, the company will keep existing Cadence branches operational following the deal.

When will Cadence customer accounts convert to Huntington systems for HBAN customers?

Cadence customer accounts are expected to be converted to Huntington's systems in mid-2026. According to Huntington, Cadence customers will receive detailed information about the pending account conversions in the coming weeks.

How does the merger affect Huntington's market position in Texas and Mississippi (HBAN)?

The merger makes Huntington the eighth-largest bank in Texas and the largest bank in Mississippi by deposit market share. According to Huntington, the deal brings immediate scale in both Texas and Mississippi.

Were there governance changes at Huntington (HBAN) after the Cadence acquisition?

Yes; Huntington's board added three former Cadence directors, including Dan Rollins as non-executive Vice Chairman. According to Huntington, the appointments integrate Cadence leadership into the combined board structure.