Huntington Bancshares completes $1.9bn acquisition of Texas-based Veritex
Huntington Bancshares, a US-based regional bank holding company, has closed its merger with Veritex Holdings, a bank holding company based in Dallas, Texas.
In July this year, Huntington and Veritex signed a merger agreement.
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Under the agreement, Huntington will exchange 1.95 shares for each outstanding share of Veritex in a fully stock-based transaction.
The transaction values Veritex’s shares at $33.91 per share, based on Huntington’s closing price of $17.39 as of 11 July, or a total value of up to $1.9bn.
Huntington said this merger enhances its strategic growth in Texas, particularly in the Dallas-Fort Worth and Houston areas.
The combined entity has assets of approximately $223bn, deposits of $176bn, and loans amounting to $148bn as of 30 September 2025.
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By GlobalDataHuntington chairman, president and CEO Steve Steinour said: “We’re pleased to announce the completion of our combination with Veritex and look forward to welcoming our new colleagues and customers across Texas to Huntington.
“This combination will serve as a springboard for substantial future growth in Texas.”
The acquisition includes Veritex’s 31 branches, bringing Huntington’s total network to over 1,000 branches.
Huntington plans to maintain these branches and invest in their expansion.
Veritex Holdings former president and CEO C Malcolm Holland III will be appointed as chairman of Huntington’s Texas operations, focusing on local engagement.
Holland said: “Today marks a defining moment for Veritex and Huntington as we officially come together to create a stronger, more dynamic bank.
“This combination is the beginning of a new chapter built on shared values, expanded capabilities, and a deep commitment to our customers and communities.
“I’m incredibly proud of the teams who made this possible and excited for the opportunities ahead.”
Since 2009, Huntington has offered business banking services in Texas, with a workforce of around 200 employees in the state.
Current customers of both banks will continue their banking activities without interruption.
Veritex customer accounts will transition to Huntington’s systems in the first quarter of 2026, with detailed conversion information to be provided shortly.
Huntington’s existing customers will not be affected by these changes.
Huntington Consumer and Regional Banking president Brant Standridge said: “Texas is one of the most dynamic and fastest-growing economies in the country.
“We’re grateful to be able to strengthen our long-term commitment to the state and bring our capabilities to more individuals, families and businesses across Texas.”
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