Company: HBAN
Filing Date: 2025-10-30
Form Type: 425
Source: 0001140361-25-039874
Chunk: 1

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-30
Form: 425
Chunk 1
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01 per Share                                                                                           | HBAN      | NASDAQ              |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

| Item 1.01. | Entry into a Material Definitive Agreement. |

On October 26, 2025, Huntington Bancshares Incorporated, a Maryland corporation (“Huntington”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with The Huntington National Bank, a national bank and a wholly owned subsidiary of Huntington (“Huntington National Bank” and, together with Huntington, the “Huntington Parties”) and Cadence Bank, a Mississippi-chartered bank (“Cadence”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Cadence will merge with and into Huntington National Bank (the “Merger”), with Huntington National Bank continuing as the surviving bank in the Merger. The Merger Agreement was unanimously approved by the boards of directors of each of Huntington, Huntington National Bank and Cadence. Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of common stock, par value $2.50 per share, of Cadence (“Cadence Common Stock”) outstanding immediately prior to the Effective Time, including any Cadence restricted stock awards that vest solely as a result of the Merger, and other than certain shares held by Cadence or the Huntington Parties, will be converted into the right to receive 2.475 shares of common stock (the “Exchange Ratio”), par value $0.01 per share, of Huntington (“Huntington Common Stock”). Holders of Cadence Common Stock will receive cash in lieu of fractional shares. In addition, subject to the terms and conditions set forth in the Merger Agreement, at the Effective Time, each share of 5.50% Series A Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, of Cadence (the “Cad