Huntington Bancshares Incorporated (HBAN) entered a merger agreement on October 27, 2025, to acquire Cadence Bank (CADE) in an all-stock deal valued at $7.4 billion.
Huntington will issue 2.475 shares of common stock for each outstanding share of Cadence common stock in a 100% stock transaction. The consideration implies the value of $39.77 per Cadence share, which is at a premium of 8.99% from the stock’s last close.
Cadence Bank is a Tupelo, Mississippi–based regional bank with about $53 billion in assets, providing a full range of banking, lending, and wealth management services to individuals, businesses, and communities across the South and Texas.
Huntington Bancshares is a Columbus, Ohio-based regional bank holding company with $223 billion in assets, providing a full range of banking, lending, payments, and wealth management services to consumers, businesses, and institutions across 14 states.
The partnership will increase Huntington’s presence in markets like Houston, Dallas, Fort Worth, Austin, Atlanta, Nashville, Orlando, and Tampa. After the merger, Huntington will have a presence in 12 of the 25 largest U.S. metropolitan areas, including six of the 10 fastest-growing ones.
Cadence operates branches across Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee, and Texas. Huntington plans to retain Cadence’s extensive branch network without any closures.
Cadence CEO James Rollins will become the non-executive Vice Chair of the Huntington Board. In addition, two other Cadence representatives will join the Board as well.
The deal is expected to close in the first quarter of 2026.
Cadence Bank was advised by Keefe, Bruyette & Woods, a Stifel Company, as financial advisor, and Sullivan & Cromwell as legal counsel. Huntington received financial advice from Evercore and BofA Securities, with legal counsel from Wachtell, Lipton, Rosen & Katz.
The acquisition price represents 1.56 times the tangible book value for Cadence.
For a more comprehensive look at this merger and acquisition transaction, visit the Deal Metrics page at:
Deal Metrics for the acquisition of Cadence Bank (CADE) by Huntington Bancshares Incorporated (HBAN)
The Deal Metrics page for each merger or acquisition includes:
A spread history chart of the merger from announcement through eventual completion or failure.
Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
News and SEC filings.
A history of deal updates.
And a whole lot more.
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Editor’s Note: Baranjot Kaur contributed to this article