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- Cadence Bank
Cadence Bank Acquisition & Valuation
Cadence Bank was acquired by Huntington Bank for $7.4B in October 2025.
Cadence Bank EBITDA multiple at acquisition
8.4x
EV/EBITDA · Oct 2025
Cadence Bank Overview
About Cadence Bank
Cadence Bank is a regional bank headquartered in Tupelo, Mississippi, and Houston, Texas, operating branches across Texas and the southern United States. The bank focused on relationship-first, community-based banking for individuals and businesses, offering deposit, lending, and other financial services. Cadence grew through acquisitions of smaller community banks before itself being acquired by Huntington Bancshares in a deal completed in February 2026.
HQ
Website
Status
Acquired
Customer focus
B2B & B2C
Revenue model
Services
Valuation
$7.4B (acquired Oct 2025)
Sectors
Cadence Bank Acquisition
Cadence Bank was acquired by Huntington Bank for $7.4B on 27 October 2025.
The acquisition price implies a 8.4x EBITDA multiple.
Cadence Bank, a $53 billion-asset regional bank headquartered in Tupelo, Mississippi, and Houston, Texas, operates 390 branches across Texas and the South, focusing on relationship-first, community-based banking. Huntington Bancshares Incorporated, the $210 billion-asset parent of Huntington National Bank based in Columbus, Ohio, acquired Cadence for $7.4 billion in stock at 170% of tangible book value. The deal was announced on October 27-28, 2025, and completed around February 2, 2026, creating a top-ten U.S. bank with $279 billion in assets, $221 billion in deposits, and $187 billion in loans as of December 31, 2025. The merger expands Huntington's footprint from the Midwest to 21 states including Texas and the South, adding nearly 1,400 branches total with no planned closures and commitments to invest in growth. It positions Huntington as the eighth-largest bank in Texas and number one in Mississippi by deposit market share, accelerating growth in high-growth markets through Cadence's scale. James D. "Dan" Rollins III, Cadence's Chairman and CEO, joined as non-executive Vice Chairman of Huntington's Board, alongside two other former Cadence directors. Systems conversion is slated for mid-2026, during which Cadence branches operate under Huntington while maintaining current customer experiences, introducing Huntington's digital tools, fee-free products, and full consumer/business offerings to Cadence clients.
| Acquirer | Date | Type | Price | EV/EBITDA |
|---|---|---|---|---|
| 27 Oct 2025 | Strategic M&A | $7.4B | 8.4x |
Acquisitions by Cadence Bank
Cadence Bank has acquired 5 companies to date.
Last acquisition by Cadence Bank was on April 25th 2025. Cadence Bank acquired Industry Bancshares for $20M.
Latest Acquisitions by Cadence Bank
| Description | Industry Bancshares is a Texas-based financial holding company overseeing community banks in rural areas. Through its subsidiaries, it offers deposit accounts, loans, mortgages, and agricultural financing to individuals and businesses. Locations include Industry and Cat Spring branches with assets under management exceeding $200 million. Services feature online banking, mobile deposits, and wealth management via third-party partners. Incorporated in 1984, the company maintains FDIC insurance and emphasizes local decision-making. | First Chatham Bank is a Savannah, Georgia-headquartered community bank established in 1999 through mergers. It operates eight branches in coastal Georgia with $650 million in assets, offering business loans, mortgages, treasury management, and personal banking. The bank specializes in SBA 7(a) and 504 loans, serving healthcare, manufacturing, and tourism sectors with a loan-to-deposit ratio of 85%. | FB Financial Corporation is a Memphis, Tennessee-headquartered bank holding company operating FirstBank with 81 branches across Tennessee, Kentucky, Alabama, and Florida. It offers commercial banking, retail banking, mortgage lending, and wealth management services. The company manages $12 billion in assets and serves middle-market businesses alongside consumers. FB Financial trades on the NYSE under FBC and repurchased $100 million in shares in 2023. | BancorpSouth is a Tupelo, Mississippi-headquartered regional bank that operates branches across nine states including Alabama, Arkansas, Florida, Kentucky, Louisiana, Mississippi, Missouri, Tennessee, and Texas. The institution maintains nearly 300 locations focused on community banking, fostering growth through public-private partnerships in local development projects. Following its 2021 merger with Regions Financial Corporation, BancorpSouth branches now function under the Regions Bank banner, extending services like deposit accounts, loans, and treasury management throughout the southeastern United States. | |
| HQ Country | |||||
| HQ City | Industry, TX | Savannah, GA | Nashville, TN | Tupelo, MS | |
| Deal Date | 25 Apr 2025 | 22 Jan 2025 | 22 Jan 2025 | 12 Apr 2021 | |
| Valuation | $20M | $104M | $104M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Cadence Bank acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Cadence Bank Competitors
Cadence Bank competitors include listed companies like Military Commercial, Valley National Bank, Yes Bank and Central Bancompany, and private ones like Starling Bank and C6 Bank.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.5B | - | $7.3B | 2.5x | ||
| Publicly listed | $2B | - | $7.5B | 3.4x | ||
| Publicly listed | $1.9B | - | $7.6B | 2.5x | ||
| Publicly listed | $1B | $507M | $7.6B | 6.8x | ||
| Private | $1.2B | - | $5.4B | 4.5x | ||
| Private | $1.7B | - | $5B | 3.0x |
Cadence Bank Public Comps
Cadence Bank is no longer listed, but its public comps include Military Commercial, Valley National Bank, Yes Bank, Central Bancompany, Bank Millennium, Galicia, İşbank, Akbank, Shanghai Commercial & Savings Bank and Commercial Bank of Dubai.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.5B | - | 3.0x | 2.5x | - | - | |||
| $2B | - | 3.7x | 3.4x | - | - | |||
| $1.9B | - | 3.9x | 2.5x | - | - | |||
| $1B | $507M | 7.4x | 6.8x | 15.0x | 15.0x | |||
| $1.9B | - | 3.8x | 4.0x | - | - | |||
| $5.6B | - | 1.3x | 1.1x | - | - | |||
| $8.7B | - | 0.8x | 1.1x | - | - | |||
| $4.7B | - | 1.6x | 1.3x | - | - | |||
This data is available for Pro users. Sign up to see all Cadence Bank competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cadence Bank
| Where is Cadence Bank headquartered? | Cadence Bank is headquartered in United States. |
| Is Cadence Bank publicly listed? | No, Cadence Bank was acquired by Huntington Bank in October 2025. |
| Who acquired Cadence Bank? | Cadence Bank was acquired by Huntington Bank in October 2025. |
| How much was Cadence Bank acquired for? | Cadence Bank was acquired for $7.4B in October 2025. |
| Which companies are comparable to Cadence Bank? | Companies comparable to Cadence Bank include Military Commercial, Valley National Bank, Yes Bank, Central Bancompany, Starling Bank and C6 Bank. |
| How many companies has Cadence Bank acquired? | Cadence Bank has acquired 5 companies, including Industry Bancshares, First Chatham Bank, FB Financial Corp., BancorpSouth and State Bank Financial Corporation. |
| What was the largest acquisition by Cadence Bank? | The $1.4B acquisition of State Bank Financial Corporation in May 2018 is the largest acquisition Cadence Bank has made to date. |
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