Bloomberg Businessweek ICYMI: Huntington Banking on Texas
Jul 21, 2025
Zach Wasserman is the CFO of Huntington Bancshares, leading the company through a significant acquisition of Veritex Holdings for $1.9 billion. He explains how this strategic move expands their footprint in Texas and promotes growth in key cities like Dallas and Houston. The discussion highlights Huntington's robust quarterly performance and the importance of adapting to economic uncertainties, particularly in relation to Federal Reserve policies. Zach offers insights on investor sentiment and the challenges facing the banking sector today.
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Texas as a Growth Powerhouse
- Texas is one of the fastest-growing states with a huge economy comparable to the eighth largest country in the world.
- Huntington sees Texas as a core growth market and a strategic springboard for long-term expansion.
Quick Culture-Fit Deal with Veritex
- Huntington first discussed a potential partnership with Veritex in mid-June and the deal evolved quickly due to strategic fit.
- Both banks shared strong cultural alignment, which is key to banking acquisition success.
Strong Q2 Momentum Despite Volatility
- Huntington's Q2 earnings showed strong growth in loans, deposits, fees, and earnings per share.
- Despite volatile capital markets early in the quarter, momentum built significantly into June and early Q3.