Huntington Bancshares, a U.S.-based regional bank holding company, closed its merger with Veritex Holdings, a Dallas, Texas-based bank holding company.
In July of this year, Huntington and Veritex signed a merger agreement.
Under the agreement, Huntington will exchange 1.95 shares for each outstanding Veritex share in an all-stock transaction.
The transaction values Veritex shares at $33.91 per share, based on Huntington’s closing price of $17.39 as of July 11, or a total value of up to $1.9 billion.
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 $223 billion, deposits of $176 billion and loans worth $148 billion as of September 30, 2025.
Huntington Chairman, President and CEO Steve Steinour said, “We are pleased to announce the completion of our combination with Veritex and look forward to welcoming our new colleagues and clients throughout Texas to Huntington.
“This combination will serve as a springboard for substantial future growth in Texas.”
The acquisition includes all 31 Veritex branches, bringing Huntington’s total network to more than 1,000 branches.
Huntington plans to maintain these branches and invest in their expansion.
Former Veritex Holdings Chairman and CEO C Malcolm Holland III will be named President of Huntington’s Texas operations, focusing on local engagement.
Holland said: “Today marks a watershed 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 based on shared values, expanded capabilities and a deep commitment to our customers and communities.
“I’m incredibly proud of the teams that made this possible and excited for the opportunities ahead.”
Since 2009, Huntington has offered business banking services in Texas, with a staff of around 200 employees in the state.
Existing customers of both banks will continue their banking activities without interruption.
Veritex customer accounts will transition to Huntington systems in the first quarter of 2026 and detailed information on the conversion will be provided shortly.
Existing Huntington customers will not be affected by these changes.
Brant Standridge, president of Huntington Regional and Consumer Banking, said: “Texas is one of the most dynamic and fastest-growing economies in the country.
“We are 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.”