Huntington Bancshares said that under the merger agreement dated October 26, 2025, Cadence Bank will merge with and into The Huntington National Bank, with Huntington National Bank continuing as the surviving bank. Cadence is a $53 billion regional bank.

1. 01

   Huntington Bancshares said that under the merger agreement dated October 26, 2025, Cadence Bank will merge with and into The Huntington National Bank, with Huntington National Bank continuing as the surviving bank. Cadence is a $53 billion regional bank.

2. 02

   Huntington said it will issue 2.475 shares of its common stock for each outstanding share of Cadence common stock in a 100% stock transaction. Based on Huntington's closing price of $16.07 as of October 24, 2025, the consideration implies $39.77 per Cadence share or an aggregate transaction value of $7.4 billion.

3. 03

   Huntington said the transaction is 10% accretive to earnings per share, mildly dilutive to regulatory capital at close, and 7% dilutive to tangible book value per share with earn-back in 3 years inclusive of merger expenses.

4. 04

   Huntington said the transaction is expected to close in Q1 2026, subject to regulatory approvals and approval by shareholders of both companies. Upon closing, James D. "Dan" Rollins III will join as non-executive Vice Chairman and Huntington will invite 2 additional members from Cadence to join the Board of Directors.

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Original filing

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