Huntington Completes Cadence Conversion, Sees Strong Second-Half Rebound
Huntington Bancshares has completed a major step in integrating Cadence’s deposit operations, migrating more than 1.4 million accounts onto its systems. The conversion is central to Huntington’s effort to expand its customer base and generate growth from the combined franchise. Its success will help determine whether the bank can translate greater scale into stronger loan, deposit and earnings momentum despite persistent funding-cost pressure.
Huntington reported second-quarter net income of $727 million, up 39% from the first quarter, after completing the Cadence account conversion. Rising deposit costs remained a drag as competition for customer funds increased the bank’s cost of funding. Even so, executives forecast a sharp rebound in the second half, saying continued loan and deposit growth should strengthen operating performance following the integration milestone.
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The history behind this eventHuntington's Texas Strategy Gains Traction, With $500 Million in Synergies Expected in 2026
Huntington Bancshares expanded its Texas footprint through the acquisition of Cadence Bank, bringing the state's commercial and retail banking operations into its growth strategy. With Texas continuing to see population and business growth, the expansion's ability to reduce integration costs and broaden Huntington's customer base will be critical to the bank's regional operations and digital transformation.
Huntington Bancshares executives said the Cadence Bank integration and Texas expansion are progressing as expected, with $500 million in cost savings and revenue synergies anticipated by the end of 2026. Digital account openings in the state have increased tenfold since the acquisition, indicating that the bank's online customer-acquisition strategy is beginning to drive growth.
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