Huntington Bancshares To Acquire Cadence Bank In A Stock Deal, Stock Down In Pre-Market

(RTTNews) - Huntington Bancshares Inc. (HBAN), Monday announced a deal to acquire Cadence Bank, offering the former an opportunity to expand its foothold in high-growth markets and create a powerful platform for further organic growth and investment.

As per the terms of the deal, Huntington will issue 2.475 shares of common stock for each outstanding share of Cadence common stock in a 100 percent stock transaction.

The transaction, expected to close in the first quarter of 2026, is estimated to be 10 percent accretive to Huntington's earnings per share.

Upon closing of the transaction, James D. "Dan" Rollins III, Chairman and Chief Executive Officer of Cadence Bank, will join as non-executive Vice Chairman of the Board of Directors of Huntington Bancshares Incorporated as well as a director of Huntington Bancshares Incorporated and The Huntington National Bank.

In the pre-market hours, HBAN is trading at $15.23, down 5.23 percent on the Nasdaq.