Huntington Bancshares is acquiring Cadence Bank in a $7.4 billion all-stock deal, expanding its reach in Texas and becoming the largest bank in Mississippi. This is part of a trend of multibillion-dollar bank mergers, with Huntington joining other recent financial service deals. The acquisition is expected to close in the first quarter of 2026, giving Cadence investors 2.475 shares of Huntington stock for every share they own.

The merger will give Huntington a significant presence in Texas, Mississippi, Alabama, and Arkansas, making it one of the top banks in those states by deposits. This move will also increase Huntington’s locations to 21 states and 12 of the top 25 metropolitan statistical areas in the U.S., marking a key growth phase for the bank. Shares of Cadence Bank have risen 10% year to date, while Huntington Bancshares shares are down 4% for the year.

Huntington Bancshares’ $7.4 billion acquisition of Cadence Bank is part of a series of major bank mergers, including deals involving Comerica, PNC Financial Services Group, and Pinnacle Financial Partners. This move will make Huntington the largest bank in Mississippi and a top 10 bank in Alabama and Arkansas by deposits. CEO Steve Steinour sees this as a crucial step for the bank’s growth.

Read more at Yahoo Finance: Another Multibillion-Dollar Bank Merger Just Arrived Today