"A good example of how we're thinking about that in the mortgage business is we're looking at the full process including process, systems and technology that the Cadence colleagues use to originate mortgages, and looking at the full process that the Huntington colleagues use to originate mortgages, and we're evolving to take the best practices from both of those rather than simply providing Huntington's process to the Cadence loan officers and asking them to adapt."
"Texas, in particular, is the area of overlap between Veritex and Cadence Bank. Even within Texas, though especially in the mortgage space some of our team that is coming in from Veritex and our team members coming in from Cadence are in different markets across Texas. And so for us, it's really about having that new presence and space and capability in Texas, as well as across the entire Southeast."
Huntington frames the Cadence and Veritex transactions as cultural partnerships while legally acquisitions. The bank is auditing full mortgage origination processes, systems, and technology from both organizations to identify and adopt best practices. Huntington plans to adapt employees and sales forces across legacy institutions to evolve toward a unified, improved operating model. The Veritex and Cadence combinations materially increase Huntington's market share in Texas and expand capability across the Southeast. Mortgage production is expected to outpace overall company growth, requiring scaling of teams, systems, and presence to meet increased demand.
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