Huntington Bancshares, a leading regional bank holding company based in Columbus, Ohio, has entered into a merger agreement with Veritex Holdings, headquartered in Dallas, Texas. This acquisition aims to enhance Huntington’s growth in Texas, particularly in the Dallas/Fort Worth and Houston areas. As of March 31, 2025, Veritex reported approximately $13 billion in assets.
Holland will join Huntington as Chairman of Texas, focusing on local customer and community engagement. Huntington plans to maintain Veritex’s branch network, which includes over 30 locations in key Texas markets.
Since 2009, Huntington has provided middle-market business banking solutions in Texas and was the top SBA 7(a) lender in Texas in 2024. The bank currently employs around 200 staff in the state.
Huntington is also dedicating $10 million toward philanthropic investments in Texas, ensuring the continuation of Veritex’s community support legacy. The merger is expected to finalize in early Q4 2025, pending regulatory approvals.
Under the merger terms, Huntington will issue 1.95 shares of its stock for each share of Veritex, valuing the transaction at $1.9 billion based on the closing price of $17.39 on July 11, 2025. This deal is projected to be accretive to Huntington’s earnings per share and neutral regarding regulatory capital, with a payback period of approximately one year.
Advisors: Evercore and Commerce Street Capital are serving as financial advisors to Huntington. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Huntington. And Keefe, Bruyette & Woods, a Stifel Company, is serving as financial advisor to Veritex. Simpson Thacher & Bartlett LLP is serving as legal advisor to Veritex.
KEY QUOTES:
“This combination supports our ambitions and reflects our long-term commitment to the state of Texas, one of the most dynamic and fastest-growing economies in the country. 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.”
Steve Steinour, Chairman, President and CEO of Huntington Bancshares
“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. We are very excited about becoming part of the Huntington family and bringing more capabilities to our Texas clients than ever before.”
Malcolm Holland, Chairman, President and CEO of Veritex
“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. 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.”
Brant Standridge, President of Consumer & Regional Banking at Huntington
