Huntington Bancshares Incorporated (NASDAQ: HBAN) announced a transformative merger agreement with Veritex Holdings, Inc. on July 13, 2025, marking a significant strategic expansion in the banking sector. This merger, unanimously approved by the boards of both companies, will see Veritex merge into Huntington, with Huntington continuing as the surviving corporation. The transaction also includes the merger of Veritex’s wholly owned banking subsidiary, Veritex Community Bank, into Huntington’s banking subsidiary, The Huntington National Bank.
Under the terms of the agreement, Veritex shareholders will receive 1.95 shares of Huntington common stock for each share of Veritex common stock they hold, with cash paid in lieu of fractional shares. The merger agreement also addresses the treatment of Veritex equity awards, including stock options and restricted stock units (RSUs), ensuring a smooth transition for Veritex employees and stakeholders.
Financially, Huntington Bancshares reported total assets of approximately \(204.23 billion and total liabilities of \)184.45 billion as of the fiscal year ending 2024. The company’s stockholders’ equity stood at $19.74 billion, supported by over 1.45 billion shares outstanding. This merger is expected to enhance Huntington’s market presence and operational scale, particularly in regions where Veritex operates.
The agreement includes a $10 million contribution to the Huntington Foundation dedicated to markets served by Veritex, reflecting Huntington’s commitment to community investment. Completion of the merger is contingent upon customary conditions, including regulatory approvals, shareholder approvals, and the absence of legal restraints.
This strategic move aligns with Huntington’s ongoing efforts to expand its footprint and leverage synergies in the banking industry, as highlighted in previous earnings calls where management emphasized growth through acquisitions and regional market expansion. The merger is poised to create significant shareholder value and operational efficiencies, reinforcing Huntington’s position as a leading regional bank.
For investors and stakeholders, this merger represents a pivotal development with potential long-term financial benefits. The integration of Veritex’s operations is expected to contribute positively to Huntington’s financial statements, with anticipated increases in assets, deposits, and overall market share.
Source Document: Huntington Bancshares 8-K Report July 2025