Huntington Bancshares Incorporated has entered into a definitive agreement to acquire Cadence Bank in an all-stock transaction valued at approximately $7.4 billion. Under the terms, Huntington will issue 2.475 shares of its common stock for each Cadence share, implying a value of $39.77 per Cadence share based on Huntington’s closing price of $16.07 on October 24, 2025. The transaction is expected to close in the first quarter of 2026, subject to regulatory and shareholder approvals.
Upon completion, Huntington will become a top-10 U.S. bank with $276 billion in assets and $220 billion in deposits. Cadence Chairman and CEO James D. “Dan” Rollins III will join Huntington as Non-Executive Vice Chairman of the Board, and two additional Cadence directors will also join the board.
The combination expands Huntington’s footprint across the South and provides a strong presence in high-growth markets such as Houston, Dallas, Fort Worth, Austin, Atlanta, Nashville, Orlando, and Tampa. The company plans to maintain Cadence’s branch network and invest in growth across its markets.
Huntington Chairman, President, and CEO Steve Steinour said the partnership extends the bank’s reach to 21 states, calling it “an important next phase of growth.” Rollins said the alignment “will create lasting value across our footprint and beyond,” while reaffirming Cadence’s long-standing focus on relationship-based community banking.
The transaction is expected to be 10% accretive to Huntington’s earnings per share, 7% dilutive to tangible book value per share with a three-year earn-back, and mildly dilutive to regulatory capital at closing.
