News
Huntington Bancshares to buy Cadence Bank
Dan Rollins, CEO, Cadence Bank at the NYSE, Jan. 25, 2022.
Source: NYSE
Huntington Bancshares has agreed to buy Cadence Bank in an all-stock deal valued at $7.4 billion.
Bank mergers have picked up pace in 2025 as lenders pursue efficiency and stability amid hopes of easing regulations. Mid-sized banks are also turning to mergers to gain the scale needed to compete with Wall Street’s largest banks.
The Cadence deal, valued at $39.77 per share, will create a top-ten bank with assets of $276 billion and deposits of $220 billion, Huntington said.
Cadence shares rose 5% before the bell on the news.
The Wall Street Journal was the first to report the deal.
