Company: HBAN
Filing Date: 2025-10-28
Form Type: 425
Source: 0001140361-25-039508
Chunk: 1

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-28
Form: 425
Chunk 1
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 the forward-looking statements in our press release on Pages 2 and 3 of the presentation we're referencing for this call. Now beginning on Slide 4. 2 weeks ago, we were together to share with you details on our terrific earnings results from the third quarter. Last Monday, on the 20th, we closed the Veritex combination. Malcolm Holland and his team have done just an outstanding job partnering with our team to quickly get us to this point. And together, we are smoothly executing the integration. As you saw in this morning's press release, and on the heels of those important events, we are thrilled to be with you today to announce our partnership with Cadence. This is a very important milestone for our company, and it positions us to drive growth and to drive value creation even faster and at greater scale. There are 4 key reasons we're so excited about this partnership. First, through this combination, Huntington will become a multi- region powerhouse, 10th largest bank in the country with deeply rooted strength in our core markets, a strategic foothold in high- growth markets across the South and immediate scale and density in Texas. Second, Cadence's footprint and businesses are highly complementary to Huntington's and serve as a springboard for significant growth across our expanded markets. Third, this combination offers compelling financial returns, including significant cost synergies that will further increase our top-tier return on capital. And lastly, this partnership reinforces the platform we've built to sustain robust competitive success over the long term. Our go-forward position as a top 10 bank enables a high level of investment that will drive acceleration in Texas and across our other markets. We believe the scale of this recurring investment capacity will reinforce our competitive advantages for the longer term. Turning to Slide 5. Cadence has more than 390 branches and 1 million customers across Texas and the South. And through this combination, we'll bring the full Huntington franchise to customers across 21 states while increasing the penetration of our national commercial businesses. Our footprint now covers half the U.S. population with the Cadence addition and is oriented to states that are expected to grow 30% faster than the national average over the next 5 years. Our combined organization will serve a dynamic and growing customer base and have a presence in 12 of the top 25 fastest-growing large MSAs and numerous fast-growing smaller ones. We really like the markets that Cadence operates in, and they fit well into our operating model. Brant will talk more about this