On January 6, 2026, Huntington Bancshares Incorporated and Cadence Bank announced that their shareholders voted to approve the proposed merger, clearing a key regulatory hurdle and moving the transaction one step closer to its expected February 1, 2026 closing date.
The deal values Cadence Bank at $7.4 billion in an all‑stock transaction, with each Cadence share receiving 2.475 Huntington shares. The combined entity will control approximately $276 billion in assets and $220 billion in deposits, adding $53 billion in assets and $44 billion in deposits to Huntington’s balance sheet. The transaction is expected to be 10% accretive to Huntington’s earnings per share in 2027 and generate $365 million in pre‑tax cost savings, while the earn‑back period is projected at three years.
Strategically, the merger expands Huntington’s footprint into the South and Texas, positioning it as a top deposit holder in Dallas and Houston. The combination is designed to deliver scale, streamline costs, and strengthen Huntington’s commercial lending, small‑business banking, and wealth‑management capabilities. Cadence’s strong presence in high‑growth Southern markets complements Huntington’s existing network, creating a broader geographic reach and a more diversified revenue base.
Financially, the transaction will increase Huntington’s tangible book value per share by about 7% and slightly dilute regulatory capital, but the anticipated cost synergies and revenue growth are expected to offset these effects. Cadence’s Q3 2025 earnings per share of $0.81 beat analyst expectations of $0.71, reflecting robust profitability, while Huntington’s Q4 2025 profit of $498 million ($0.34 per share) marked a significant jump from the prior year’s $215 million, underscoring the bank’s strong performance leading into the merger.
Management emphasized the strategic fit and expected benefits. Huntington CEO Steve Steinour said the approval “is an important milestone that will enable us to help more people and businesses across a broader footprint, while providing a compelling opportunity to grow shareholder value.” Cadence CEO James D. “Dan” Rollins noted that the merger “reflects our shared philosophy around relationship‑first, community‑based banking and the value this combination can create.”
The announcement was well received by investors, with analysts noting the deal’s potential to enhance Huntington’s market position and generate significant cost savings, while also recognizing the modest capital dilution and the need for careful integration to realize the projected synergies.
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