Thu
Feb 7 2019
08:56 am

Billed as a "merger of equals," BB&T is acquiring SunTrust in an all stock deal. SunTrust shareholders will receive 1.295 shares of BB&T for each SunTrust share they own, putting the value at about $28.24 billion. The combined assets will be approx. $442 billion, making it the 6th largest bank in the US. The company will operate under a new name to be determined and will be headquartered in Charlotte. The deal is expected to close in the 4th quarter of 2019.

Press release...

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michael kaplan's picture

That may explain why they're

That may explain why they're leaving the Chapman Square Kroger. One clerk is opening his own business, the other selling Dodge vehicles. When I first opened my account 20 years ago, the bank was called NBC. Then SunTrust, and now BB&T, I suppose.

JaHu's picture

I helped build a cabin for

I helped build a cabin for the man who once was president and who basically started SunTrust banks. It was up at Top of the World in Blount County. He never mentioned it but I'm pretty certain that's the reason we had SunTrust banks here in the Knoxville area from early on. It provided him with a place to bank.

He got his start as a Teller at Sun Bank in Orlando and worked his way to president and as president he brought Sun bank into national prominence when they landed the Disney account, which I was personally very grateful for. He set me up so my children and I had several days of free passes to Disney World.

Sadly later I'd learned he'd died of Alzheimer's.

Some people you can just feel greatness about them and he was one. He was firm but fair, and someone I would have voted for if he would have turned to politics. But apparently he was to intelligent for that.

bizgrrl's picture

Great story. I liked

Great story. I liked SunTrust.

JaHu's picture

Thanks! He was a real

Thanks! He was a real interesting person. Someone you would only be lucky to meet maybe once in your life.

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