By Connor Hart
Shares of Cadence Bank rose after Huntington Bancshares said it will buy the midsize southern bank for $7.4 billion.
Cadence's stock rose 4% to $37.95 in premarket trading Monday. Through Friday's close, shares are up 8.3% so far this year.
The all-stock deal, which was reported earlier Monday by The Wall Street Journal, will give Huntington around $276 billion in assets. It will also further expand Huntington's presence deeper into the South, particularly Texas, where the bank last week completed a separate acquisition of a smaller Dallas-based bank called Veritex Holdings.
Cadence Bank Chief Executive James "Dan" Rollins III said the deal will help the bank do more to support those it serves. "This is a defining moment for Cadence Bank and we're confident this alignment will create lasting value across our footprint and beyond," he added.
Shares of Huntington were down 3.2% at $15.55 ahead of the opening bell.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 27, 2025 07:18 ET (11:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.