New York, Feb 4, 2026, 09:09 ET — Premarket
- Cadence Bank’s common and preferred shares, traded on the NYSE, were halted following its acquisition by Huntington Bancshares.
- A recent SEC filing fixed the exchange ratio at 2.475 Huntington shares per Cadence common share, with any fractional shares paid out in cash.
- Attention turns to Huntington’s shares and its integration updates, with an investor conference scheduled for Feb. 10.
Cadence Bank’s shares are effectively off the market after the New York Stock Exchange halted trading in the lender’s common stock (CADE) and preferred shares (CADE PRA) ahead of Monday’s open. The stock last settled at $42.11 on Jan. 30, slipping 1.66% amid unusually heavy volume.
Shareholders should focus on the exchange ratio—the amount of buyer’s stock given per target share. According to a Feb. 2 filing, each Cadence common share was swapped for 2.475 Huntington common shares, with cash covering any fractional amounts. Cadence merged into Huntington’s bank and no longer exists as a separate company.
Huntington announced it has completed the transaction, instantly boosting its footprint in Texas and Mississippi. The combined firm now holds roughly $279 billion in assets, based on Dec. 31 figures. The Ohio-based lender will retain Cadence’s full 390-branch network, with no planned closures. Customer accounts are set to switch over to Huntington’s systems by mid-2026. Huntington also added three former Cadence directors to its board, including Cadence CEO James D. “Dan” Rollins III. “We’re thrilled to welcome our new colleagues and customers from Cadence to Huntington,” said CEO Steve Steinour. Huntington Bancshares Incorporated
CADE shares remain suspended, so Huntington’s stock now serves as the real-time proxy for former Cadence equity. Huntington ended Tuesday up 2.85% at $18.39, beating out big banks like JPMorgan Chase, Bank of America, and Wells Fargo, according to MarketWatch data. That closing price puts the implied value of a former Cadence share at about $45.50, based on the fixed exchange ratio.
Huntington said investors should watch for updates on integration expenses and revenue forecasts during its presentation at the UBS Financial Services Conference on Feb. 10.
Wednesday’s open shows a cautious mood. U.S. stock futures are mixed, while the 10-year Treasury yield hovers near 4.27%. All this comes before what promises to be a packed earnings calendar.
Execution will be the key variable. Huntington plans to cut some Cadence jobs during the merger integration, and Steinour noted the bigger combined bank faces tougher regulatory demands — a setup that could boost compliance expenses and oversight.
But the numbers hinge on smooth integration. System conversions often hit snags, and projected savings risk fading if credit conditions weaken or loan growth falters in the markets Huntington is entering.
