Huntington to acquire Veritex for ~$1.9B in stock; prelim Q2 EPS $0.34 up 13% YoY

HUNTINGTON BANCSHARES INC /MD/

1.95 HBAN shares per VBTX share; implied $33.91/sh; aggregate ~$1.9B; close expected early Q4 2025.
Prelim Q2 EPS $0.34 (flat QoQ, +13% YoY); NII $1.5B (+12% YoY); avg loans $133.2B (+2% QoQ).
Net charge-offs 0.20% (down 6bps QoQ); TBV $9.13 (+4% QoQ); ACL $2.5B (1.86% of loans).
Deal expected modestly accretive to EPS, neutral to capital, slightly dilutive to TBV with ~1yr payback.
Veritex CEO Malcolm Holland to join as non-executive Chairman of Texas; Huntington commits $10M philanthropy.

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