Huntington Expands in Texas With $1.9 Billion Veritex Deal (1)

Huntington Bancshares Inc. agreed to buy Veritex Holdings Inc., which operates more than 30 bank branches in Texas, for $1.9 billion in an all-stock transaction.

Adding Veritex, which had about $13 billion in assets as of March 31, will help Huntington expand in key markets including Dallas and Houston, according to a statement Monday.

A Huntington Bank branch in Troy, Michigan

Photographer: Emily Elconin/Bloomberg

“The Veritex team brings deep local relationships, a strong commercial banking franchise and customer loyalty, and this partnership will serve as a springboard for substantial future growth in the state,” Huntington Chairman and Chief Executive Officer Steve Steinour said in the statement.

The agreement ...