{"id":869145,"date":"2025-07-14T08:26:31","date_gmt":"2025-07-14T12:26:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/huntington-bancshares-incorporated-announces-acquisition-of-veritex-and-provides-preliminary-2025-second-quarter-results\/"},"modified":"2025-07-14T08:26:31","modified_gmt":"2025-07-14T12:26:31","slug":"huntington-bancshares-incorporated-announces-acquisition-of-veritex-and-provides-preliminary-2025-second-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/huntington-bancshares-incorporated-announces-acquisition-of-veritex-and-provides-preliminary-2025-second-quarter-results\/","title":{"rendered":"Huntington Bancshares Incorporated Announces Acquisition of Veritex and Provides Preliminary 2025 Second Quarter Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Veritex acquisition accelerates Huntington’s<\/span> organic growth initiatives in high-growth Texas<\/span> markets; Strong 2Q results reflect growth in loans and deposits, sustained strong revenue and profit growth, as well as continued excellent credit performance<\/i>\n <\/p>\n

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\n COLUMBUS, Ohio<\/span> and DALLAS<\/span><\/span>, July 14, 2025<\/span><\/span> \/PRNewswire\/ — Huntington Bancshares Incorporated (Nasdaq: HBAN), a top ten regional bank holding company headquartered in Columbus, Ohio<\/span>, and Veritex Holdings, Inc. (Nasdaq: VBTX), a bank holding company headquartered in Dallas, Texas<\/span>, today announced entry into a definitive merger agreement, and Huntington<\/span> announced preliminary second quarter results.<\/p>\n

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\n \"Huntington-Veritex\"
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This strategic acquisition accelerates Huntington’s<\/span> strong organic growth in Texas<\/span> by expanding its presence in Dallas\/Fort Worth<\/span> and Houston<\/span>. \u00a0As of March 31, 2025<\/span>, Veritex reported approximately $13 billion<\/span> in assets, $9 billion<\/span> in loans, and $11 billion<\/span> in deposits.<\/p>\n

“This combination supports our ambitions and reflects our long-term commitment to the state of Texas<\/span>, one of the most dynamic and fastest-growing economies in the country,” said Steve Steinour<\/span>, Chairman, President and CEO of Huntington Bancshares. “The Veritex team brings deep local relationships, a strong commercial banking franchise and customer loyalty, and this partnership will serve as a springboard for substantial future growth in the state.”<\/p>\n

“Veritex has always been a people and community focused bank. We have found a partner in Huntington Bank who shares and lives out those same values,” said Malcolm Holland<\/span>, Chairman, President and CEO of Veritex. “We are very excited about becoming part of the Huntington<\/span> family and bringing more capabilities to our Texas<\/span> clients than ever before.”<\/p>\n

Holland will join Huntington<\/span> in a non-executive role as Chairman of Texas<\/span> and continue his work to serve local customers and communities.<\/p>\n

Veritex, headquartered in Dallas<\/span>, operates more than 30 branches across key Texas<\/span> markets including Dallas\/Fort Worth<\/span> and Houston<\/span>. Huntington<\/span> plans to maintain Veritex’s branch network and invest to grow it over time.<\/p>\n

\n Huntington<\/span> has been serving customers and communities in Texas<\/span> since 2009 and currently offers middle-market business banking solutions in the Dallas<\/span> and Houston<\/span> markets, including corporate banking and automotive finance. The nation’s largest originator, by volume, of Small Business Administration (SBA) 7(a) loans, Huntington<\/span> was the #1 SBA lender in Texas<\/span> in 2024. Huntington<\/span> currently employs roughly 200 colleagues in Texas<\/span>, led by dedicated local leadership.<\/p>\n

“Veritex has assembled a talented and experienced team who have earned the trust and loyalty of individuals, families and companies of all sizes across Texas<\/span>,” said Brant Standridge<\/span>, President of Consumer & Regional Banking at Huntington<\/span>. “We’re excited to build on their impressive legacy and, together with Veritex colleagues, continue to be a reliable partner supporting our customers and communities.”\u00a0<\/p>\n

Additionally, Huntington<\/span> is committed to continuing Veritex’s strong legacy of community support through local partnerships, investment and engagement. As an initial step, Huntington<\/span> is funding $10 million<\/span> toward philanthropic investments in Texas<\/span>.<\/p>\n

The combination is expected to close early in the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions. Upon conversion, Veritex teams and branches will operate under the Huntington Bank name and brand.<\/p>\n

\n Transaction Terms<\/b>\n <\/p>\n

Under the terms of the agreement, Huntington<\/span> will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction. Based on Huntington’s<\/span> closing price of $17.39<\/span> as of July 11, 2025<\/span>, the consideration implies $33.91<\/span> per Veritex share or an aggregate transaction value of $1.9 billion<\/span>. The transaction is expected to be modestly accretive to Huntington’s<\/span> earnings per share, neutral to regulatory capital at close, and slightly dilutive to tangible book value per share with payback in approximately one year inclusive of merger expenses and CECL double count.\u00a0<\/p>\n

\n Second Quarter 2025 Financial Highlights<\/b>\n <\/p>\n

The announcement precedes Huntington’s<\/span> release of its financial results for the second quarter ended June 30, 2025<\/span>. The following is a summary of results the company expects to report on July 18<\/span>:<\/p>\n