Company: HBAN
Filing Date: 2025-10-30
Form Type: 8-K
Source: 0001140361-25-039871
Chunk: 0

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-30
Form: 8-K
Item: Item 1.01
Chunk 0
---
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 “ Cadence Preferred Stock”) outstanding immediately prior to the Effective Time, will be automatically converted into the right to receive 1/1000 of a share of a newly created series of preferred stock of Huntington having powers,
preferences or special rights that are not materially less favorable than the terms of the Cadence Preferred Stock (all shares of such newly created series, collectively, the “ New Huntington Preferred Stock”) or depositary shares in respect thereof.

Subject to the terms and conditions of the Merger Agreement, at the Effective Time, (i) each outstanding Cadence restricted stock unit that is not held by a
non-employee director of