Huntington Bancshares Incorporated

Huntington Bancshares Incorporated is an American super-regional bank holding company that runs consumer, commercial and payments franchises through its sole bank subsidiary, The Huntington National Bank, and produced $8.17 billion of total revenue and $2.21 billion of net income attributable to Huntington in fiscal 2025. Founded as a single Columbus, Ohio bank in 1866 and incorporated in Maryland as a holding company in 1966, it spent most of its history as a Midwest franchise — number one by deposits in Columbus, top-five in Detroit, Cleveland, Indianapolis and Grand Rapids — before a decade of dealmaking and de novo expansion pushed it into 21 states.

That reshaping is the whole story now. In fourteen months the company has absorbed two Texas-centred banks, Veritex Holdings in October 2025 and Cadence Bank on 1 February 2026, taking total assets from $204 billion at the end of 2024 to $284 billion at 30 June 2026 and moving the centre of gravity toward the fastest-growing markets in the country. Management calls Texas a "springboard" and insists the partnerships are about revenue rather than cost, but the market has been sceptical: the shares trade at a mid-teens multiple of trailing earnings even as the company projects roughly 30% earnings growth to 2027.

This file turns on a single question: whether the combined franchise can convert its new footprint and its fee businesses into durable organic growth before the deposit and credit cycles force the math to work harder. The bull and bear arguments are not really about the Midwest core, which has grown loans and deposits ahead of peers for years. They are about whether two large integrations, a margin that has already troughed once, and a returning deposit war leave enough room for the company to hit the 18%–19% return on tangible common equity it has promised for 2027.