News Summary
Huntington Bancshares is set to acquire Dallas-based Veritex Holdings for $1.9 billion in an all-stock deal. This acquisition aims to strengthen Huntington’s presence in Texas, which is emerging as a key financial hub. Valued at $33.91 per share, this transaction will allow Huntington to enhance its commercial lending and capitalize on Texas’s economic growth, positioning it as a major player in the banking sector. The deal comes with an anticipation of regulatory approvals and is expected to close by early Q4 2025, with Veritex’s CEO moving into a role at Huntington post-acquisition.
Texas – Huntington Bancshares has announced plans to acquire Veritex Holdings, a Texas-based bank, in an all-stock transaction valued at $1.9 billion. This strategic move aims to expand Huntington’s footprint in Texas, which is rapidly becoming an essential financial hub. Huntington will issue 1.95 shares of its stock for each outstanding share of Veritex, which values Veritex at $33.91 per share. The offer represents a 23.5% premium over Veritex’s last closing price.
Following the announcement of the acquisition, Huntington’s stock price dropped by 1.8%, while Veritex’s shares increased significantly, surging by 20%. This fluctuation indicates investor sentiment regarding the potentials and risks associated with the merger.
Huntington, headquartered in Columbus, has total assets amounting to approximately $210 billion. With this acquisition, Texas will emerge as Huntington’s third-largest deposit state, with a post-merger loan portfolio in the state expected to reach $15 billion. Huntington’s CEO Steve Steinour highlighted the acquisition as a bolstering commitment to Texas’s dynamic economic landscape.
Veritex Holdings, founded in 2010, has developed into one of the top 20 banks headquartered in Texas, operating over 30 branches and holding $13 billion in assets. The merger is projected to enhance Huntington’s commercial lending and capital markets capabilities significantly. Following the acquisition, Veritex’s CEO Malcolm Holland will serve as a non-executive chairman for Texas at Huntington.
The anticipated closing date for this transaction is in early Q4 of 2025, though it remains subject to necessary regulatory approvals and traditional closing conditions. Huntington has a strategic history of acquisitions, previously acquiring TCF Financial in 2021, which extended its reach into Minnesota and Colorado. This latest acquisition is expected to be “modestly accretive” to Huntington’s earnings per share.
Huntington’s leadership is committed to minimizing disruption for existing customers and communities as part of its merger strategy. This commitment to maintaining continuity during such transitions has been a hallmark of the bank’s acquisition history, paving the way for successful integrations and fostering community relationships.
The transaction positions Huntington to leverage Veritex’s established brand and local expertise, further solidifying its presence in Texas. As the financial sector in Texas continues to grow, Huntington’s acquisition of Veritex may help both banks innovate and adapt to the evolving economic landscape.
In summary, Huntington’s acquisition of Veritex Holdings signifies a strategic expansion into a critical regional market, enhancing its operations and service offerings in an increasingly competitive industry. The merger is closely watched by financial analysts and stakeholders as a key indicator of both companies’ future trajectories.
Deeper Dive: News & Info About This Topic
- Banking Dive: Huntington to Buy Texas Bank Veritex for $1.9 Billion
- Reuters: Huntington Bancshares to Buy Veritex for $1.9 Billion Deal
- WFAA: Dallas-Based Veritex Bank Agrees to $1.9B Buyout
- Bloomberg: Huntington Agrees to Acquire Veritex for $1.9 Billion
- Wikipedia: Huntington Bancshares
Author: STAFF HERE COLLEGE WRITER
The COLLEGE STATION STAFF WRITER represents the experienced team at HERECollegeStation.com, your go-to source for actionable local news and information in College Station, Brazos County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Brazos Valley Fair & Rodeo, Chilifest, and Aggie Muster. Our coverage extends to key organizations like the Bryan-College Station Chamber of Commerce and United Way of the Brazos Valley, plus leading businesses in education, biotechnology, and retail that power the local economy such as Texas A&M University, Fujifilm Diosynth Biotechnologies, and H-E-B. As part of the broader HERE network, including HEREAustinTX.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
