The $66 billion, all-stock deal reflects the growing consolidation in the banking industry.
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Regional banks BB&T, SunTrust join to create $66B operatorATLANTA (AP) — Southern regional banks BB&T and SunTrust are combining in an all-stock deal to create a new bank valued at about $66 billion. The banks said Thursday that the combined company will be the sixth-largest U.S. bank based on assets and deposits. It will have approximately $442 billion in assets, $301 billion in loans and $324 billion in deposits serving more than 10 million households.
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BB&T And SunTrust To Merge, Forming 6th-Largest Bank In The U.S.The new bank would have its headquarters in Charlotte, N.C. Both of the banks are calling it a 'merger of equals,' but the deal is weighted toward BB&T, whose CEO will be in charge.
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BB&T And SunTrust To Merge, Forming 6th-Largest Bank In The U.S.The new bank would have its headquarters in Charlotte, N.C. Both of the banks are calling it a 'merger of equals,' but the deal is weighted toward BB&T, whose CEO will be in charge.
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BB&T and SunTrust announce $66 billion merger, creating the sixth-largest US bankTwo of the largest US regional banks are joining forces in a bid to compete with the nation's biggest players.
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BB&T, SunTrust announce $66 billion merger, create sixth-largest US bankBB&T and SunTrust are merging to create the sixth-largest U.S. bank in a deal valued at about $66 billion.
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Bank of America and Citigroup have a new rival, as BB&T and SunTrust mergeThe combined company will have around $442 billion in assets, and will rival Citigroup and Bank of America.
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BB&T to Buy SunTrust in Largest Bank Deal Since the Financial CrisisBB&T is buying SunTrust Banks in a merger which, valued at about $66 billion, would create the sixth-largest U.S. bank.
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Regional banks BB&T, SunTrust join to create $66B operatorATLANTA (AP) — Southern regional banks BB&T and SunTrust are combining in an all-stock deal to create a new bank valued at about $66 billion. The banks said Thursday that the combined company will be the sixth-largest U.S. bank based on assets and deposits. It will have approximately $442 billion in assets, $301 billion in loans and $324 billion in deposits serving more than 10 million households.
Read more »