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The $ 28.2 billion bank merger – Axios



BB&T agreed to buy SunTrust Banks for $ 28.2 billion in stock, creating the country's sixth largest bank for assets and deposits. If approved, it would be the largest US bank. bank merger since the 2008 financial crisis. By the numbers: The merged bank will have $ 442 billion in assets, with BB&T contributing little more than $ 225 billion and SunTrust contributing to the rest, WSJ's Justin Lahart writes: [19659004] "A bank relief law last year raised the threshold for stricter oversight by the Federal Reserve to $ 250 trillion in assets from $ 50 billion. With both banks on the verge of reaching higher threshold, why not join forces and reap the cost savings of a merged entity? "

Go deeper: Regional banks BB&T and SunTrust to merge into a $ 66 billion deal.


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