WASHINGTON (dpa-AFX) - Huntington Bancshares Inc. (HBAN), Monday announced preliminary second-quarter results, reporting earnings $0.34 per share, up over 13 percent from the year-ago quarter.
For the quarter ended June 30, 2025, the company expects strong results, reflecting growth in loans and deposits, sustained strong revenue and profit growth, as well as continued excellent credit performance.
Concurrently, the company confirmed a definitive merger agreement with Dallas-based Veritex Holdings, Inc., a bank holding company, expecting to grow a strong organic presence in Texas.
As per the deal, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100 percent stock transaction, amounting to a total consideration of $1.9 billion.
Upon completion of the acquisition, Malcolm Holland, CEO of Veritex, will join Huntington in a non-executive role as Chairman of Texas.
The deal is set to close early in the fourth quarter of 2025.
In the pre-market hours, HBAN is trading at $17.20, down 1.09 percent on the Nasdaq.
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