Huntington Bancshares is purchasing regional bank Cadence Bank in an all-stock deal valued at $7.4 billion, a move intended to strengthen its existing position across the Southern US.
Columbus, Ohio-based Huntington will issue 2.475 common shares for each outstanding common share of Cadence.
Huntington announced on Monday that upon the completion of the deal, it will become the number one bank in Mississippi and a top-ten institution in both Alabama and Arkansas by deposits.
The transaction is anticipated to be completed in the first quarter of 2026, though it still requires approval from shareholders at both Huntington and Cadence.
Cadence, whose headquarters are split between Houston, Texas, and Tupelo, Mississippi, maintains over 390 outlets across Texas and the South. It operates branches throughout Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee, and Texas.
Huntington currently operates more than 1,000 branches in 14 states. It is usually described as a ‘super regional bank’—a group of large national institutions significant in size, often holding hundreds of billions in assets and operating hundreds of branches. However, these firms are dwarfed by the major banking giants like Wells Fargo, Bank of America, and JPMorgan Chase, who possess a size and scale that the super regionals cannot replicate.
The transaction will also provide a foothold in high-growth markets including Houston, Dallas, Fort Worth, Austin, Atlanta, Nashville, Orlando, and Tampa.
Merger and acquisition (M&A) activity amongst US banks leapt to a four-year high in the third quarter, according to S&P Global Market Intelligence data covering the period up to September 30. A total of 52 US bank transactions were announced in the third quarter of 2025.
Huntington has stated it does not plan to shutter any of Cadence’s branches. The Cadence Bank teams and branches will subsequently operate under the Huntington Bank name and brand.
Cadence Bank Chairman and CEO James D. Rollins III will take on the role of non-executive vice chairman of the Huntington Bancshares Inc. board once the agreement is finalised. He will also act as a director of both Huntington Bancshares and The Huntington National Bank. Furthermore, Cadence will have two other members joining the Huntington Bancshares’ board.
Following the deal announcement, shares in Huntington Bancshares dipped 3.2% in midday trading, whilst Cadence Bank’s stock climbed by nearly 4%.
Huntington Bancshares, Cadence Bank, Wells Fargo, Bank of America, JPMorgan Chase
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