BB&T to Buy SunTrust in Largest Bank Deal Since the Financial Crisis

Winston-Salem-based BB&T Corp. struck a deal to buy Atlanta-based SunTrust Banks Inc., combining two regional lending powerhouses to create the sixth-largest U.S. retail bank and end a decadelong drought in big bank mergers. The all-stock, $28.2 billion deal is the largest U.S. bank merger since the financial crisis ushered in a stricter regulatory regime that kept banks on the sidelines of recent deal-making booms. Bank rules have loosened considerably following President Trump’s 2016 election, leading some to predict a wave of consolidations among smaller banks. The Wall Street Journal

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Author: Matthew Randle