Huntington Bancshares (NASDAQ:HBAN) has agreed to buy Cadence Bank (NYSE:CADE) in an all-stock transaction valued at approximately $7.4 billion, according to a report published Monday by The Wall Street Journal.
The deal adds to a wave of merger activity in the U.S. banking sector throughout 2025, as financial institutions pursue greater scale, operational efficiencies, and improved stability. Many mid-sized banks are especially active in seeking strategic mergers to better compete with the largest Wall Street lenders.
This consolidation push also reflects expectations of potential regulatory easing, which could make larger institutions more competitive.
In an interview with The Wall Street Journal, Steve Steinour, CEO of Huntington, described the planned Cadence acquisition as an “important next stage” for the company.