Ohio-based Huntington Bancshares Incorporated announced plans to acquire Cadence Bank in a $7.4 billion, all-stock transaction that’s expected to close in early 2026.

The merger is a strategic move by Huntington to gain immediate scale in the southern parts of the U.S. and establish a larger presence in some of the country’s fastest-growing markets, the company announced in a press release.

“This is an important next phase of growth for Huntington,” Chairman, President and CEO of Huntington Bancshares Steve Steinour said in a statement . “This partnership will extend the reach of our full franchise to 21 states—stretching from the Midwest to the South to Texas—and into new, high-growth markets for which we have a powerful playbook."

Cadence has $53 billion in assets and headquarters i

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