Huntington Bancshares Acquires Cadence Bank

• Huntington Bancshares has announced a $7.4 billion deal to acquire all stock of Cadence Bank.

• This acquisition will widen Huntington’s reach in Texas and position it as the largest bank in Mississippi, adding to a trend of substantial bank mergers.

Other financial institutions are also navigating similar situations.

On Monday, Cadence Bank’s stock jumped about 3% following the announcement, while Huntington’s shares dropped by 4%. This shift comes amidst a broader decline in the KBW Nasdaq Regional Bank Index, likely influenced by the current economic climate.

Huntington joins firms like Comerica, PNC Financial Services, and Pinnacle Financial in a slew of recent multibillion-dollar deals. Comerica was recently acquired by Fifth Third, while PNC took over FirstBank, and Pinnacle absorbed Synovus.

The merger between Huntington and Cadence is projected to be finalized in the first quarter of 2026. Cadence investors will receive 2.475 shares of Huntington for every share they own, valuing Cadence at $39.77 based on past trading. This value indicates a 9% premium compared to Cadence’s closing price from last week.

With this acquisition, Huntington aims to solidify its position in Texas, Mississippi, Alabama, and Arkansas, tracking a continual trend in bank consolidations. The merger is expected to significantly enhance Huntington’s deposit market share in major cities such as Dallas and Houston.

Following this deal, Huntington will operate in a total of 21 states and be present in 12 of the nation’s top 25 metropolitan areas, according to CEO Steve Steiner. He stated that this merger represents a vital step in the bank’s growth journey.

Interestingly, while Cadence Bank’s stock has risen by 10% since the beginning of the year, Huntington Bancshares has seen a 4% decline in its shares during the same timeframe.