Huntington Bancshares completes $1.9bn acquisition of Texas-based Veritex

Core Points - Huntington Bancshares has completed its merger with Veritex Holdings, enhancing its strategic growth in Texas [1][2] - The merger involves an exchange of 1.95 shares of Huntington for each share of Veritex, valuing Veritex at $33.91 per share, totaling up to $1.9 billion [1] - The combined entity will have approximately $223 billion in assets, $176 billion in deposits, and $148 billion in loans as of September 30, 2025 [2] Company Strategy - The merger will serve as a springboard for substantial future growth in Texas, particularly in the Dallas-Fort Worth and Houston areas [2][3] - Huntington will maintain and invest in Veritex's 31 branches, expanding its total network to over 1,000 branches [3] - C Malcolm Holland III, former president and CEO of Veritex, will become chairman of Huntington's Texas operations, focusing on local engagement [3][4] Customer Transition - Current customers of both banks will continue their banking activities without interruption, with Veritex accounts transitioning to Huntington's systems in the first quarter of 2026 [5] - Detailed conversion information will be provided shortly, ensuring that Huntington's existing customers are not affected by these changes [5] Market Position - Huntington has been offering business banking services in Texas since 2009, with a workforce of around 200 employees in the state [4] - The merger strengthens Huntington's long-term commitment to Texas, a rapidly growing economy [6]