Huntington Bancshares, a bank holding company based in Columbus, Ohio, has announced a definitive merger agreement with Dallas-based Veritex Holdings.
According to the terms of the agreement, Huntington will exchange 1.95 shares for every outstanding share of Veritex in a fully stock-based transaction.
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As per Huntington’s closing price of $17.39 as of 11 July, the consideration means $33.91 per Veritex share or an aggregate transaction value of $1.9bn.
This deal is expected to bolster Huntington’s growth in Texas, particularly in the Dallas/Fort Worth and Houston areas.
Veritex operates more than 30 branches in key Texas markets, and Huntington plans to maintain this network while investing in future expansion.
As of 31 March 2025, Veritex reported approximately $13bn in assets, including $9bn in loans and $11bn in deposits.
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By GlobalDataVeritex chairman, president and CEO Malcolm Holland said: “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.”
Following the merger, Holland, will assume a non-executive role as chairman of Texas, focusing on local customer service.
After the merger, Veritex’s teams and branches will operate under the Huntington Bank name.
The merger is expected to finalise in early the fourth quarter of 2025, pending regulatory approvals.
Huntington consumer and regional banking president Brant Standridge said: “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.”
Huntington Bancshares has assets totalling $210bn. Established in 1866, it operates 968 branches across 13 states, with some services extending beyond these areas.
