CHARLOTTE, N.C., April 25, 2019 /PRNewswire/ -- BB&T
Chairman & Chief Executive Officer Kelly S. King and SunTrust Chairman & Chief
Executive Officer William H. Rogers,
Jr., today spoke at a joint public meeting of the Federal
Reserve Board and the Federal Deposit Insurance Corporation on the
proposed merger of equals between BB&T Corporation (NYSE: BBT)
and SunTrust Banks, Inc. (NYSE: STI). They were joined by BB&T
Director of Corporate Social Responsibility and Community
Reinvestment Sharon Jeffries-Jones and SunTrust Enterprise
Community Reinvestment Officer Lynette
Bell.
Both CEOs and CRA leads shared information relating to the
benefits of the proposed merger of equals for clients and
communities, along with a summary of both institutions' strong
performance under the Community Reinvestment Act (CRA). The full
transcript of remarks delivered by King and Jeffries-Jones are
available at ThePremierFinancialInstitution.com.
About BB&T
BB&T is one of the largest financial services holding
companies in the U.S. with $227.7
billion in assets and market capitalization of approximately
$35.6 billion as of March 31, 2019. Building on a long tradition of
excellence in community banking, BB&T offers a wide range of
financial services including retail and commercial banking,
investments, insurance, wealth management, asset management,
mortgage, corporate banking, capital markets and specialized
lending. Based in Winston-Salem,
N.C., BB&T operates more than 1,800 financial centers in
15 states and Washington, D.C. and
is consistently recognized for outstanding client service by
Greenwich Associates for small business and middle market banking.
More information about BB&T and its full line of products and
services is available at BBT.com.
Cautionary Note Regarding Forward-Looking Statements
This communication contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the financial condition, results of operations, business
plans and the future performance of BB&T and SunTrust.
Words such as "anticipates," "believes," "estimates,"
"expects," "forecasts," "intends," "plans," "projects," "could,"
"may," "should," "will" or other similar words and expressions are
intended to identify these forward-looking statements. These
forward-looking statements are based on BB&T's and SunTrust's
current expectations and assumptions regarding BB&T's and
SunTrust's businesses, the economy, and other future
conditions. Because forward-looking statements relate to
future results and occurrences, they are subject to inherent
uncertainties, risks, and changes in circumstances that are
difficult to predict. Many possible events or factors could affect
BB&T's or SunTrust's future financial results and performance
and could cause actual results or performance to differ materially
from anticipated results or performance. Such risks and
uncertainties include, among others: the occurrence of any
event, change or other circumstances that could give rise to the
right of one or both of the parties to terminate the definitive
merger agreement between BB&T and SunTrust, the outcome of any
legal proceedings that may be instituted against BB&T or
SunTrust, delays in completing the transaction, the failure to
obtain necessary regulatory approvals (and the risk that such
approvals may result in the imposition of conditions that could
adversely affect the combined company or the expected benefits of
the transaction) and shareholder approvals or to satisfy any of the
other conditions to the transaction on a timely basis or at all,
the possibility that the anticipated benefits of the transaction
are not realized when expected or at all, including as a result of
the impact of, or problems arising from, the integration of the two
companies or as a result of the strength of the economy and
competitive factors in the areas where BB&T and SunTrust do
business, the possibility that the transaction may be more
expensive to complete than anticipated, including as a result of
unexpected factors or events, diversion of management's attention
from ongoing business operations and opportunities, potential
adverse reactions or changes to business or employee relationships,
including those resulting from the announcement or completion of
the transaction, the ability to complete the transaction and
integration of BB&T and SunTrust successfully, and the dilution
caused by BB&T's issuance of additional shares of its capital
stock in connection with the transaction. Except to the
extent required by applicable law or regulation, each of BB&T
and SunTrust disclaims any obligation to update such factors or to
publicly announce the results of any revisions to any of the
forward-looking statements included herein to reflect future events
or developments. Further information regarding BB&T,
SunTrust and factors which could affect the forward-looking
statements contained herein can be found in BB&T's Annual
Report on Form 10-K for the fiscal year ended December 31, 2018 and its other filings with the
Securities and Exchange Commission ("SEC"), and in SunTrust's
Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and its other filings with the
SEC.
Additional Information about the Merger and Where to Find
It
In connection with the proposed merger with SunTrust, BB&T
has filed with the SEC a registration statement on Form S-4 to
register the shares of BB&T's capital stock to be issued in
connection with the merger. The registration statement
includes a joint proxy statement/prospectus which will be sent to
the shareholders of BB&T and SunTrust seeking their approval of
the proposed transaction.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE
REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY
STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON
FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH
THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE
DOCUMENTS DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT BB&T,
SUNTRUST, AND THE PROPOSED TRANSACTION.
Investors and security holders may obtain copies of these
documents free of charge through the website maintained by the SEC
at www.sec.gov or from BB&T at its website, www.bbt.com,
or from SunTrust at its website, www.suntrust.com. Documents
filed with the SEC by BB&T will be available free of charge by
accessing BB&T's website at http://bbt.com/ under the tab
"About BB&T" and then under the heading "Investor Relations"
or, alternatively, by directing a request by telephone or mail to
BB&T Corporation, 200 West Second Street, Winston-Salem, North Carolina, (336) 733-3065,
and documents filed with the SEC by SunTrust will be available free
of charge by accessing SunTrust's website at
http://suntrust.com/ under the tab "Investor Relations," and
then under the heading "Financial Information" or, alternatively,
by directing a request by telephone or mail to SunTrust Banks,
Inc., 303 Peachtree Street, N.E., Atlanta, Georgia 30308, (877) 930-8971.
Participants in the Solicitation
BB&T, SunTrust and certain of their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from the shareholders of BB&T and
SunTrust in connection with the proposed transaction under the
rules of the SEC. Certain information regarding the interests
of these participants and a description of their direct and
indirect interests, by security holdings or otherwise, will be
included in the joint proxy statement/prospectus regarding the
proposed transaction when it becomes available. Additional
information about BB&T, and its directors and executive
officers, may be found in the definitive proxy statement of
BB&T relating to its 2019 Annual Meeting of Shareholders filed
with the SEC on March 19, 2019, and
other documents filed by BB&T with the SEC. Additional
information about SunTrust, and its directors and executive
officers, may be found in the definitive proxy statement of
SunTrust relating to its 2019 Annual Meeting of Shareholders filed
with the SEC on March 8, 2019, and
other documents filed by SunTrust with the SEC. These
documents can be obtained free of charge from the sources described
above.
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SOURCE BB&T Corporation