Mississippi-based Cadence Bank has been bought out by an Ohio-headquartered financial institution.
Officials with Huntington Bancshares Incorporated announced Monday that it has entered into a definitive agreement to acquire Cadence, the $53 billion regional bank headquartered in Tupelo. Huntington cited Cadence’s various locations across the southern U.S. for the acquisition, noting that it will play into the bank’s regional growth aspirations.
The new partnership with Cadence, in conjunction with Huntington’s recently closed acquisition of Veritex Community Bank, will give the Ohio bank the fifth deposit market share in Dallas, the fifth deposit market share in Houston, and the eighth deposit market share across the state of Texas. Upon close, Huntington will also become the number one bank in Mississippi and a top-10 bank in both Alabama and Arkansas by deposits.
“This is an important next phase of growth for Huntington,” said Steve Steinour, who serves as chair, president, and CEO of Huntington Bancshares. “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. Today’s announcement represents a significant step on our journey to be the leading people-first, customer-centered bank in the country.”
Per company officials, the partnership will give Huntington a foothold in high-growth markets, including Houston, Dallas, and Atlanta, among others, and create a platform for further organic growth and investment. Upon completion, Huntington will have a strategic presence in 12 of the top 25 metropolitan statistical areas in the country.
One of the largest regional banks in its footprint, Cadence operates branches across Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee, and Texas. Huntington intends to maintain Cadence’s broad branch network, with no branch closures, and invest to grow.
“We’ve been delivering for our customers and communities for 150 years, and partnering with Huntington will help us do even more to support those we serve,” Cadence Bank CEO Dan Rollins III said. “This is a defining moment for Cadence Bank, and we’re confident this alignment will create lasting value across our footprint and beyond. Together, we will continue to prioritize relationship-first banking while unlocking new opportunities for growth and innovation.”
Upon closing of the transaction, Rollins will join Huntington 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. Huntington Bancshares will be inviting two additional members from Cadence to join the Board of Directors.
Officials added that Huntington will continue Cadence’s legacy of community support through local partnerships, investment, and engagement, and will maintain the Mississippi bank’s philanthropic commitments to organizations across its footprint.
The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals, approval by Huntington and Cadence shareholders, and other customary closing conditions. Upon conversion, which is expected in the second quarter of 2026, Cadence Bank teams and branches will operate under the Huntington Bank name and brand.
