Company: HBAN
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001140361-25-029894
Chunk: 65

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-08
Form: S-4/A
Chunk 65
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 matters considered, and qualifications and limitations on the review undertaken by KBW, as set forth in its written opinion, the exchange ratio in the merger was fair, from a financial point of view, to the holders of Veritex common stock. Representatives of Simpson Thacher discussed with the directors the proposed final terms of the transaction documents. Following discussion, the directors in attendance expressed unanimous support for entering into a transaction with Huntington on the terms discussed and directed that Veritex execute the merger agreement and other transaction documents. During the evening of July 13, 2025, each of Huntington and Veritex executed the merger agreement. Veritex’s Reasons for the Merger; Recommendation of Veritex’s Board of Directors In reaching its decision to adopt the merger agreement and approve the merger and the other transactions contemplated by the merger agreement, and to recommend that its shareholders approve the merger agreement and the merger, the Veritex board of directors evaluated the merger agreement, the merger and the other transactions and arrangements contemplated by and in connection with the merger agreement in consultation with Veritex’s management, as well as Veritex’s financial and legal advisors, and considered a number of factors, including the following factors:

| • | each of Veritex’s and Huntington’s business, operations, financial condition, stock performance, asset quality, earnings and prospects. In reviewing these factors, including the information obtained through |

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due diligence, the Veritex board of directors considered that Huntington’s and Veritex’s respective business, operations and risk profile complement each other and that the companies’ separate earnings and prospects, and the synergies and scale potentially available in the proposed transaction, create the opportunity for the combined company to leverage complementary and diversified revenue streams and to have superior future earnings and prospects compared to Veritex’s earnings and prospects on a standalone basis;

| • | the ability to leverage the scale and financial capabilities of the combined company to make further investments in innovation and technology to better manage risk and provide enhanced customer offerings and service across business lines; |

| • | the combined company’s position as one of the largest financial services organizations based in the United States in terms of market capitalization, loans, deposits and net income; |

| • | that the combined company’s expanded distribution channels and scale positions it to serve an expanded customer base through a distinctive customer experience while driving enhanced financial performance; |

| • | the ability of the combined company to leverage Huntington’s broader product and services offering, as well as