Huntington Bancshares Incorporated (HBAN) entered a merger agreement on July 14, 2025, to acquire Veritex Holdings, Inc. (VBTX) in an all-stock deal valued at $1.9 billion.
Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction. The deal implies consideration of $33.91 per Veritex share, representing a 23.49% premium from the stock’s last close.
Veritex Holdings is the parent company of Veritex Community Bank, a Dallas-based bank providing a full range of commercial banking products and services to small and mid-sized businesses across Texas. As of March 2025, Veritex reported approximately $13 billion in assets, $9 billion in loans, and $11 billion in deposits.
Huntington is a regional bank holding company with $210 billion in assets, headquartered in Columbus, Ohio, providing a full range of banking, payments, wealth management, and lending services to consumers, businesses, and institutions across 13 states.
The merger boosts Huntington’s growth in Texas by strengthening its presence in Dallas/Fort Worth and Houston.
Veritex, based in Dallas, operates over 30 branches across major Texas markets, including Dallas/Fort Worth and Houston. Huntington plans to retain Veritex’s branch network and invest in its growth over time.
Malcolm Holland, CEO of Veritex, will join Huntington as Chairman of Texas in a non-executive role.
The deal is expected to close early in the fourth quarter of 2025, after which Veritex teams and branches will operate under the Huntington Bank name and brand.
Keefe, Bruyette & Woods, a Stifel Company, and Simpson Thacher & Bartlett served as financial and legal advisors, respectively, to Veritex. Evercore and Commerce Street Capital acted as financial advisors to Huntington, with Wachtell, Lipton, Rosen & Katz providing legal counsel.
Huntington is paying 1.48 times the tangible book value for Veritex.
For more in-depth information about this M&A deal, visit the Deal Metrics page here:
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Editor’s Note: Baranjot Kaur contributed to this article