The so-called merger of equality was valued at $ 66 billion, the largest bank agreement since the financial crisis. The combined company will operate under a new name and have about $ 442 billion in assets, $ 301 billion in loans and $ 324 billion in deposits.
Wall Street players have requested the consolidation of regional banks, including Brian Moynihan, CEO of Bank of America, who talked about this trend at the World Economic Forum in Davos, Switzerland last month.
"The emergence comes from the consolidation of another round of people who still have to happen in the US. 6,000 banks … and you will find that they continue to consolidate. It is the core banking world, the capital market world, that has consolidated a bit, "Moynihan told CNBC.
̵[ads1]1; With reporting from CNBC's Michael Bloom.