Huntington Bancshares Inc., parent company of Huntington Bank, Columbus, Ohio, and Veritex Holdings Inc., a bank holding company headquartered in Dallas, announced July 14 entry into a definitive merger agreement.
As of March 31, Veritex reported approximately $13 billion in assets, $9 billion in loans, and $11 billion in deposits across more than 30 branches. The combination expands Huntington’s presence in Dallas/Fort Worth and Houston.
Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction valued at $1.9 billion. The transaction is expected to be modestly accretive to Huntington’s 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.
Huntington committed to continuing Veritex’s strong legacy of community support through local partnerships, investment and engagement. As an initial step, Huntington is funding $10 million toward philanthropic investments in Texas.
The combination was expected to close early in the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions.
