![]() In the US with USD 225.7bn in assets and market capitalisation ofĪpproximately USD 33.1bn as of December 31, 2018.īuilding on a long tradition of excellence in community banking, BBĪnd T offers a wide range of financial services including retail andĬommercial banking, investments, insurance, wealth management, asset ![]() The merger is expected to close in 4Q19, subject to satisfaction ofĬustomary closing conditions, including receipt of customary regulatoryĪpprovals and approval by the shareholders of each company.īB and T is one of the largest financial services holding companies (Beau) Cummins, Joseph Thompson and Scott Case. They include Chris Henson, Clarke Starnes (Chief Risk Officer),ĭaryl Bible (Chief Financial Officer), Allison Dukes, Brant Standridge,ĭavid Weaver, DontA Wilson, Ellen Fitzsimmons, Ellen Koebler, Hugh The combined company's executive management team will beĬomprised equally from SunTrust and BB and T. Which the lead director will be a legacy BB and T director. Ratcliffe, current lead director of SunTrust, will serveĪs lead director of the combined company until Maafter Upon the closing of the transaction, the board of directors of theĬombined company will consist of members equally split between BB and Tĭavid M. Shareholders will own approximately 43% of the combined company. Receive 1.295 shares of BB and T for each SunTrust share they own.īB and T shareholders will own approximately 57% and SunTrust Under the terms of the merger agreement, SunTrust shareholders will Upon consummation of the transaction based upon each Company's SunTrust shareholders will receive a 5% increase in their dividend GAAP and Cash EPS accretion per SunTrust share in 2021 isĮxpected to be approximately 9% and 16%, respectively (based on Street To be approximately 13% and 17%, respectively (based on StreetĮstimates). GAAP and Cash EPS accretion per BB and T share in 2021 is expected In the current home markets for both companies, the combinedĬompany will maintain the Community Banking Center in Winston-Salem, NCĪnd the Wholesale Banking Center in Atlanta, GA. Including an Innovation and Technology Center to drive digital USD301 bn in loans, and USD324 bn in deposits serving more than 10mĪ new corporate headquarters will be established in Charlotte, NC, The pro forma company will have approximately USD 442bn in assets, The combined company will be the sixth-largest US bank based on In an all-stock merger of equals valued at approximately USD 66bn. In February, the companies inked a definitive agreement to combine The companies expect the transaction to close late in 3Q19 or in Of equals from the North Carolina Office of the Commissioner of Banks onĬompletion of the merger is subject to certain additional customaryĬlosing conditions, including receipt of the remaining regulatory The most attractive, high-growth markets in the country.Īs previously announced, BB and T received approval for the merger Households in the United States, with leading market share in many of Truist, a financial institution that will serve more than 10 m These approvals complete another step in the process to form Shareholders also approved Truist Financial Corp. Of the companies at separate meetings, the companies said. Retrieved from ġ August 2019 - Shareholders of North Carolina, US-based bank APA style: BB and T, SunTrust Win Shareholder Nods for Merger.BB and T, SunTrust Win Shareholder Nods for Merger." Retrieved from ![]() MLA style: "BB and T, SunTrust Win Shareholder Nods for Merger." The Free Library.
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