Cadence Bank to be acquired by Huntington Bank in $7.4B all-stock deal: what it means for customers, shareholders, and the Southern footprint

Huntington Bancshares said it will acquire Cadence Bank in an all-stock transaction valued at about $7.4 billion, a tie-up that would create one of the most geographically diverse super-regional banks and deliver immediate scale across the South. The agreement was announced Monday, October 27, and is expected to close in early 2026, pending customary regulatory and shareholder approvals.

Huntington Bank + Cadence Bank: key terms at a glance

• Structure & value: All-stock deal valued around $7.4 billion.

• Exchange ratio: 2.475 shares of Huntington for each Cadence share (implies a high-single-digit premium to Cadence’s last close).

• Closing timeline: Targeted for early 2026, subject to approvals.

• Leadership & governance: Cadence’s CEO James D. Rollins III is slated to join Huntington as non-executive vice chair and as a board director; two additional Cadence directors are expected to join Huntington’s board.

• Branding & branches: Cadence locations will transition to the Huntington brand after close; no immediate closures were announced.

Why Huntington is buying Cadence Bank

For Huntington, the acquisition accelerates a long-stated strategy to expand beyond its Midwestern stronghold and deepen exposure to faster-growing Southern metros. Cadence brings more than 390 branches across 10 Southern states and meaningful market share in Texas and Mississippi, with entry or expansion in Houston, Dallas, Atlanta, Orlando, and other high-growth corridors. Post-deal, the combined bank is positioned to be the deposit share leader in Mississippi and a top-tier competitor in Alabama and Arkansas, while giving Huntington a larger commercial and small-business lending platform in energy-adjacent and Sun Belt markets.

What the Cadence Bank sale means for customers

Day one: Nothing changes immediately. Accounts, online banking, debit cards, checks, routing numbers, loan terms, and branch access continue as usual under the Cadence brand until legal close and subsequent conversion.

After close: Customers should expect staged communications on new branding, any product mapping, and digital banking migration. Typical changes include updated mobile apps, expanded ATM/branch access under the Huntington network, and potential tweaks to fee schedules or account features. Conversion timelines and blackout windows (for card or online access) are usually announced well in advance.

Service overlap: In metro areas where both banks operate, management did not outline near-term branch reductions. Overlapping locations are often evaluated over time, but larger networks can also increase convenience, extended hours, and specialized teams for small businesses, mortgage, and wealth clients.

Shareholder impact: Cadence Bank and Huntington stock

• Cadence shareholders receive 2.475 Huntington shares per Cadence share at closing. The ratio hardwires deal value to Huntington’s stock price; if Huntington trades lower or higher before closing, the dollar value received will move accordingly.

• Huntington shareholders gain a larger, more geographically balanced franchise with added commercial and retail scale. Modest near-term dilution is typical in stock deals; management will seek revenue synergies (cross-sell, deeper wallet share) rather than heavy expense cuts to make the math work over time.

Regulatory backdrop and deal momentum

Regional bank M&A has picked up as institutions look for stable, low-cost deposits and scale in technology, compliance, and risk management. This transaction will undergo review by federal banking regulators and requires shareholder approvals at both companies. Recent deals of similar size have taken several quarters from signing to close; integration then proceeds in phases, often starting with systems and branding changes.

Market footprint and competitive dynamics

The combined company would operate across more than 20 states, blending Huntington’s substantial presence in the Great Lakes and Midwest with Cadence’s Southern network. That reach matters for:

• Commercial banking: Larger credit limits and sector expertise in healthcare, industrials, and energy-adjacent middle-market clients.

• Consumer lending & payments: Broader product menus, integrated mobile platforms, and rewards ecosystems that need scale to stay competitive.

• Treasury & wealth: Cross-market coverage for business treasury services and higher-end wealth management, especially in growing Southern metros.

What to watch next

1. Regulatory milestones: Look for filings and the projected close window; any integration or capital-return guidance may accompany updates.

2. Integration playbook: Timelines for system conversion, branch rebranding, and product lineup alignment.

3. Credit & deposit trends: Quarterly reports will show whether the combined bank maintains stable deposit costs while growing quality loans.

4. Community commitments: Details on small-business lending targets, community reinvestment plans, and philanthropy in Cadence’s legacy markets.

5. Legal noise: As is common, law firms have already announced reviews of deal terms on behalf of shareholders; these rarely derail transactions but can shape disclosures.

Cadence Bank and Huntington Bank

This is a scale-and-footprint deal: Huntington secures an immediate Southern platform with leading share in key states, while Cadence ties its future to a larger balance sheet and technology stack. For customers, the near-term experience should be status quo, followed by access to a broader network and products after close. For shareholders, the exchange ratio and execution on integration will determine how quickly the strategic story translates into tangible value.