HUNTINGTON BANCSHARES TO ACQUIRE CADENCE BANK

  

Months after the completion of a merger between Cadence Bank and Industry Bancshares, Cadence Bank is now being acquired itself.

Huntington Bancshares Inc. announced today (Monday) that it has entered into a definitive agreement to acquire Cadence Bank in a 100 percent stock transaction with an aggregate value of $7.4 billion. 

Headquartered in Columbus, Ohio, Huntington is a $223 billion asset regional bank holding company that operates more than 1,000 branches in 14 states.  Huntington said this agreement will extend the franchise’s reach to 21 states, stretching from the Midwest to the South, add more than 390 branch locations, and create a top 10 bank with assets of $276 billion and deposits of $220 billion. 

Steve Steinour, Huntington Bancshares’ Chairman, President and CEO, called the acquisition “an important next phase of growth for Huntington” and said it “represents a significant step on our journey to be the leading people-first, customer-centered bank in the country.” 

James D. “Dan” Rollins III, Chairman and Chief Executive Officer of Cadence Bank, said the partnership with Huntington will help Cadence “do even more to support those we serve.”  He added, “This is a defining moment for Cadence Bank and we're confident this alignment will create lasting value across our footprint and beyond.”

The news comes after Cadence finalized a merger this summer with Industry Bancshares, whose branches in Brenham and surrounding areas began officially operating as Cadence Bank in mid-October. Huntington said in the release that it intends to maintain Cadence’s branch network – with no branch closures – and invest to grow, while also continuing Cadence’s community support and philanthropic commitments.

The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals, approval by Huntington and Cadence shareholders and other customary closing conditions.  Conversion is planned in the second quarter of 2026, at which time Cadence Bank teams and branches will operate under the Huntington Bank name and brand.