FDIC Approves Merger of BB&T, SunTrust Bank

Date : 11/19/2019 @ 9:40PM
Source : Dow Jones News
Stock : SunTrust Banks Inc (STI)
Quote : 70.13  0.0 (0.00%) @ 12:00AM

FDIC Approves Merger of BB&T, SunTrust Bank

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   By Allison Prang 
 

The Federal Deposit Insurance Corporation on Tuesday approved the merger of BB&T Corp. (BBT) and SunTrust Banks Inc. (STI).

The FDIC said its approval of the deal is dependent on the combined bank--which will be called Truist--divesting 30 branches and $2.4 billion in deposits.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

November 19, 2019 16:25 ET (21:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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