The all-stock transaction is expected to close in early Q4 2025, with Veritex to operate under the Huntington brand.
Huntington Bancshares, of The Huntington National Bank in Columbus, Ohio, has signed a definitive merger agreement to acquire Veritex Holdings for $1.9 billion, with the aim of expanding its presence in Texas.
Veritex Holdings is the parent organisation of Veritex Community Bank, which, based in Dallas, has approximately $13 billion in assets, $9 billion in loans, and $11 billion in deposits, as of 31 March 2025.
The bank provides retail, commercial and business banking services, operates more than 30 branches throughout Dallas, Fort Worth and Houston, and is led chairman, president and CEO Malcolm Holland.
The all-stock transaction with Huntington, expected to be “modestly accretive” to the buyer’s earnings per share, is expected to close in early Q4 2025, subject to regulatory approval and closing conditions.
Once closed, Veritex will operate under the Huntington brand. Holland will join the bank in the non-executive role of chairman of Texas, along with the existing Veritex team and branch network.
Huntington states that it is “committed to continuing Veritex’s strong legacy of community support through local partnerships, investment and engagement”, and has put forward an initial $10 million in funding for “philanthropic investments in Texas”.
Huntington has been active in the state since 2009, and currently offers middle-market business banking solutions in the Dallas and Houston markets, including corporate banking and automotive finance. The bank currently employs around 200 people in Texas.
Source: https://www.fintechfutures.com/
