Huntington Bancshares (NASDAQ:HBAN) has announced a definitive agreement to merge with Veritex Holdings (NASDAQ:VBTX) in an all-stock deal valued at $1.9 billion, marking a strategic move to strengthen its presence in the Texas banking market—particularly in Dallas, Fort Worth, and Houston.
According to the terms of the agreement, Veritex shareholders will receive 1.95 shares of Huntington common stock for every Veritex share they hold. Based on Huntington’s closing stock price of $17.39 as of July 11, this implies a transaction value of $33.91 per Veritex share.
Upon completion, the merger will bring approximately $13 billion in total assets, $9 billion in loans, and $11 billion in deposits onto Huntington’s books.
The acquisition is anticipated to close in early Q4 2025, pending regulatory approvals and standard closing conditions. Huntington noted that the merger is expected to immediately boost earnings per share and have a neutral impact on capital ratios at closing.
Although the deal will slightly reduce tangible book value per share in the short term, Huntington projects a payback period of around 12 months.
Huntington Bancshares stock price
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