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BB&T, SunTrust join in $66B deal; headquarters to be based in Charlotte

Published: Thursday, February 07, 2019 @ 6:56 AM

BB&T and SunTrust Join in $66B Deal

Southern regional banks BB&T and SunTrust announced Thursday morning they will merge, creating the sixth-largest bank in the country.

The merger is worth about $66 billion in stocks.

>> On WSOCTV.com: Wells Fargo to cut jobs in Charlotte

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WSOC-TV has learned the combined company will operate under a new name and be headquartered in Charlotte, North Carolina. The new company will still maintain significant operations and investment in Winston-Salem and Atlanta.

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The board of directors of both banks unanimously approved the deal, which is subject to regulators’ approval. If all goes well, it should close by the end of the year.

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