Huntington Bancshares buying Cadence Bank in $7.4 billion deal

Huntington Bancshares is buying regional bank Cadence Bank in an all-stock deal valued at $7.4 billion that will strengthen its position across the southern United States.

Cadence, which has headquarters in Houston, Texas and Tupelo, Mississippi, has more than 390 locations across Texas and the South. It runs branches across Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee, and Texas.

Huntington runs more than 1,000 branches in 14 states. It is typically referred to as a super regional bank, a group of large national banks that are significant in size, often hundreds of billions in assets and hundreds of branches, but are dwarfed in size by the banking giants Wells Fargo, Bank of America and JPMorgan Chase, who have size and scale that the super regionals