NEW YORK, February 5, 2026, 13:00 EST — Regular session
- On Jan. 30, the last full day before the merger, Cadence Bank’s CADE shares closed at $42.11
- Each Cadence common share was converted into 2.475 Huntington (HBAN) shares, with cash compensation provided for any fractional shares
- Huntington’s next scheduled update comes at the UBS conference on Feb. 10, where management plans to discuss strategy and current trends
Cadence Bank’s shares haven’t budged since Jan. 30, when CADE ended the day at $42.11, down 1.7%. There’s been no trading activity since then. (Yahoo Finance)
Cadence no longer exists as an independent public company following its all-stock merger with Huntington Bancshares, which closed on Feb. 1, according to a regulatory filing. Shareholders received 2.475 shares of Huntington common stock for every Cadence common share they held, with cash paid out for any fractional shares. Cadence’s Series A preferred stock was converted into a Huntington depositary share linked to a new preferred series. (Huntington Bancshares Incorporated)
For those holding Cadence stock, Huntington is the new benchmark. HBAN shares dipped roughly 0.4% to $18.95 around midday, which translates to about $46.90 per former Cadence share using the 2.475 exchange ratio. Meanwhile, the regional bank ETF fell about 0.4%, and the broader financial ETF dropped close to 0.8%.
In the same period, other regional banks slipped slightly: Regions Financial fell roughly 0.4%, Prosperity Bancshares dipped about 0.2%, and Truist edged down near 0.1%.
Huntington announced the deal’s close in a separate statement, revealing the combined company now holds roughly $279 billion in assets. Cadence’s 390 branches will expand Huntington’s footprint to nearly 1,400 locations across 21 states. “We’re thrilled to welcome our new colleagues and customers from Cadence to Huntington,” CEO Steve Steinour said. (Huntington Bancshares Incorporated)
Management moves came fast near the close. On Thursday, Huntington named Senthil Kumar as chief risk officer, set to begin on Feb. 16. The bank described the hire as part of navigating “this important time of growth.” (Huntington Bancshares Incorporated)
Just a day before, Huntington announced it had chosen Ameriprise Financial Services to take over as its new retail investment program provider. This switch will move its retail brokerage and advisory support onto Ameriprise’s platform. Huntington’s advisor network comprises roughly 260 financial advisors overseeing close to $28 billion in advisory, brokerage, and insurance assets. (Huntington Bancshares Incorporated)
Still, the math works both ways. A joint proxy filing cautioned that although the exchange ratio is set, the value Cadence holders end up with depends on Huntington’s share price — which can fluctuate after the deal closes.
For now, there’s no fresh “Cadence” tape to analyze. The key issues revolve around how quickly Huntington integrates, the credit and funding dynamics in its larger Texas-and-South market, and if the expected scale will translate into earnings without unexpected hiccups.
On Tuesday, Huntington announced that Steinour and CFO Zach Wasserman will speak at 11:20 a.m. ET during the UBS Financial Services Conference on Feb. 10. Investors are keen to catch any insights on integration and future outlook. (Huntington Bancshares Incorporated)
