The B Stands for Billions

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Emailed on February 8, 2019 in The Friday Forward

This week U.S. regional lender BB&T said it will buy rival SunTrust Banks for about $28 billion in stock.

The combined company will operate under a new name and have around $442 billion in assets, $301 billion in loans and $324 billion in deposits. It will rival U.S. Bancorp, which has about $467 billion in assets.

The two companies called it a merger of equals, valued at $66 billion.

The combined company will be headquartered in Charlotte, NC.

Sean SteigerwaldComment