00:00Huntington Bank, out of the great state of Ohio, making moves in Texas.
00:03That'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 will really propel Huntington forward.
00:14Huntington talked about increasing their return on tangible equity by about 200 basis points.
00:19So 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.
00:29Yeah, 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.
00:37Herman, has it feeling like the floodgates have opened?
00:40It 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.
00:51So it feels like something's really happening with Bank M&A. There's been a lot of regulation easing with tie-ups.
00:59You're getting deal approvals at a much faster pace.
01:01And you've seen deals from a lot of these larger regional lenders like a 5th or like a PNC.
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