Huntington Bancshares Inc. struck a deal to buy Cadence Bank for $7.4 billion, for its second major acquisition this year. The deal will extend Huntington's footprint to 21 states in the south and southeast regions.

Huntington Bank, based in Ohio, has announced a $7.4 billion acquisition of Cadence Bank. The move will significantly expand Huntington's footprint in the Houston market and other southeastern regions, following its recent completion of the Veritex deal. 

The acquisition is projected to increase Huntington's return on tangible equity by approximately 200 basis points, enhancing profitability. Recent regulatory easing has led to a faster pace of deal approvals, contributing to a surge in regional bank mergers, with Huntington now completing two major deals in two years.

Huntington acquiring Cadence Bank in $7.4 billion deal

Huntington Bank, out of the great state of Ohio, making moves in Texas. That's right. It's a deal that really brings the Houston market in particular and also fills in some smaller markets in the southeast that really propel Huntington forward. Huntington talked about increasing their return on tangible equity by about 200 basis points. So it's going to be a deal that really improves profitability and expands further into the Texas market after the Veritex deal that was just closed last week. Yeah, to your point, they literally just did a deal, and we were showing a screen basically of all the regional bank deals that have happened so far this year. Herman, it has a feeling like the floodgates have opened. It really has. And for a bank like Huntington to be this aggressive, two deals in two years, whereas they've been much more conservative with tie-ups by the current management team. So it feels like something's really happening with Bank M&A. There's been a lot of regulation easing with tie-ups. You're getting deal approvals at a much faster pace, and you've seen deals from a lot of these larger regional lenders, like a Fifth Third, like a PNC. So we expect more to come.

U.S President Donald Trump has long promised to build a ballroom on the White House campus.
He originally said it wouldn’t touch the existing structure. But after just four days, the East Wing is gone. Torn down to make way for a much bigger ballroom than originally planned.

Washington

Trump’s $300m White House ballroom project sparks controversy

Two more suspects, a man and a woman arrested this week over the jewel heist at the Louvre, have been charged and remanded in custody, prosecutors have said. The charges on Saturday brought the number of people now charged over the spectacular robbery to four.

Paris

Two more charged over Louvre jewelry heist

British police say eleven people were injured, most of them seriously, in a mass stabbing on a London-bound train Saturday evening. Authorities have arrested two British-born men and are investigating their motive in the incident.

London

UK police rule out terrorism after mass stabbing on train

Egypt has officially opened the Grand Egyptian Museum in Cairo, the world's largest museum dedicated to an ancient civilization. The new museum features tens of thousands of artifacts, including the full collection from King Tutankhamen's tomb.

Cairo

Grand Egyptian Museum opens after two decades of construction

Voters in New York, New Jersey, Virginia and California have already hit the polls for early voting before election day on Nov. 4. CBS News producer Jared Ochacher is following the New York City mayoral race.

New York

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The two-day APEC summit in South Korea has wrapped up with President Lee Jae Myung handing over hosting duties to China. Chinese President Xi Jinping has announced the southern city of Shenzhen as the site for next year's summit.

Seoul

Rise of AI

Global Tariffs

APEC summit ends, Trump and Xi reach truce in trade war

When a US aircraft carrier arrives in the Caribbean next week, there will be 14,500 American troops in and around Puerto Rico. The Trump administration says it's aimed at curbing drug trafficking. But many fear something much bigger to come.

San Juan

Fears of conflict in Caribbean amid U.S military build-up

The coastal town of Black River, described by the Jamaican government as Hurricane Melissa's "ground zero," lies devastated after one of the most powerful Atlantic storms on record tore through the island, claiming at least 19 lives and leaving a trail of unprecedented destruction.

Black River

Jamaica reels from catastrophic hurricane Melissa

FBI Director Kash Patel announced an operation that apparently "thwarted a potential terrorist attack" during Halloween weekend in Michigan. CBS News' Scott MacFarlane has more.

Dearborn

Patel says FBI stopped a potential "terror attack" in Michigan

Washington and Beijing are "in agreement on many things," U.S. President Donald Trump said after the face-to-face meeting that lasted nearly two hours, the first between both leaders in six years.

Busan

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U.S. President Donald Trump ordered the resumption of nuclear weapons tests for the first time since 1992. A day earlier, Russian President Vladimir Putin said Russia had successfully tested a nuclear-powered super torpedo.

Trump orders nuke tests after Russia tests nuclear-powered torpedo

Sudan and the UAE clash at the UN Security Council—Khartoum accuses Abu Dhabi of funding the RSF amid reports of atrocities.

UN Security Council meeting: Sudan and UAE trade heated accusations

U.S.-China tensions cast a shadow over the APEC summit in South Korea — Leaders debate trade, diplomacy, and the bloc’s mission of free trade.

Gyeongju-si

APEC summit: U.S.-China rivalry looms over trade and diplomacy

Microsoft, Meta and Alphabet recently reported their quarterly earnings and one thing is certain: the jaw-dropping investments in artificial intelligence are only just getting started. This all comes just days after Nvidia became the world's first-ever $5 trillion company.

California

Meta stock falls over 10% after commitment to raise AI spending

CBS News has confirmed that the Pentagon ordered all state National Guards to form what they're calling "quick reaction forces" available for rapid deployments to address potential civil unrest.

Pentagon orders state National Guards to form rapid response units

Taylor Taranto has been sentenced to time served plus 36 months of supervised release after being convicted of threatening former President Barack Obama. He was also pardoned on Jan. 6 Capitol rioting charges by President Trump earlier this year.

Taylor Taranto sentenced to time served for Obama threat

Authorities have charged five people in connection with the overdose deaths of three 19-year-olds, including Leandro De Niro-Rodriguez, the grandson of actor Robert De Niro.

Five arrested over overdose death of Robert De Niro’s grandson

Prince Andrew is being stripped of his royal titles and must move out of his mansion, Buckingham Palace announced on Thursday. Andrew has come under intense scrutiny over his friendship with convicted sex offender Jeffrey Epstein.

Prince Andrew stripped of royal titles over Jeffrey Epstein ties

French police have now detained seven people over the robbery at France's landmark museum on 19 October.

Louvre heist: Five new suspects arrested as search for jewels continues

U.S. Treasury Secretary Scott Bessent said Thursday that China has approved a TikTok transfer deal. CBS News White House reporter Willie James Inman has more.

Treasury Secretary Bessent says China approved TikTok transfer deal

As Hurricane Melissa continues its trail of death and devastation through the Caribbean, Jamaica is taking stock. With over 75% of the country without power and $22 billion in damage, experts estimate recovery could take a decade.

Kingston

Jamaica reels as Hurricane Melissa leaves behind devastation

House lawmakers have been told their paychecks will be delayed until Congress passes a new funding bill. CBS News congressional reporter Taurean Small has the latest on the government shutdown.

House lawmakers' paychecks delayed until government reopens

Israeli planes and tanks pounded areas in eastern Gaza on Thursday (October 30), Palestinian residents and witnesses said, a day after Israel said it remained committed to a U.S.-backed ceasefire despite launching more lethal bombardments in the territory.

Jerusalem

Middle East Conflict

Israel strikes Gaza after asserting commitment to ceasefire

In the Netherlands, the centrist D66 party looks on course to beat the far right in the national election. Exit polls have predicted Rob Jetten's party will claim victory, which could lead him to become the country's youngest ever prime minister.

Amsterdam

Dutch centrist party wins big in election as far right loses support

President Donald Trump ordered the U.S. military on Thursday (October 30) to immediately resume testing nuclear weapons after a gap of 33 years, minutes before beginning a meeting with Chinese President Xi Jinping.

Breakdown