Company: HBAN
Filing Date: 2025-07-14
Form Type: 425
Source: 0001140361-25-025734
Chunk: 8

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-14
Form: 425
Chunk 8
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 Huntington plans to maintain Veritex’s branch network and invest to grow it over time. Huntington has been serving customers and communities in Texas since 2009 and currently offers middle-market business banking solutions in the Dallas and Houston markets, including corporate banking and automotive finance. The nation’s largest originator, by volume, of Small Business Administration (SBA) 7(a) loans, Huntington was the #1 SBA lender in Texas in 2024. Huntington currently employs roughly 200 colleagues in Texas, led by dedicated local leadership. “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,” said Brant Standridge, President of Consumer & Regional Banking at Huntington. “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.” Additionally, Huntington is committed to continuing Veritex’s strong legacy of community support through local partnerships, investment and engagement. As an initial step, Huntington is funding $10 million toward philanthropic investments in Texas. The combination is expected to close early in the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions. Upon conversion, Veritex teams and branches will operate under the Huntington Bank name and brand.

Transaction Terms Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction. Based on Huntington’s closing price of $17.39 as of July 11, 2025, the consideration implies $33.91 per Veritex share or an aggregate transaction value of $1.9 billion. The transaction is expected to be modestly accretive to Huntington’s earnings per share, neutral to regulatory capital at close, and slightly dilutive to tangible book value per share with payback in approximately one year inclusive of merger expenses and CECL double count. Second Quarter 2025 Financial Highlights The announcement precedes Huntington’s release of its financial results for the second quarter ended June 30, 2025. The following is a summary of results the company expects to report on July 18:

| • | Earnings per common share (EPS) of $0.34, unchanged from the prior quarter, and up over 13% from the year-ago quarter. |

| • | The quarter included $0.04 of impact to EPS resulting from a $58 million decrease in earnings from a securities re