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Two public meetings on merger of BB&T and SunTrust, public comment period extended

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Staff Writer | Thursday March 14, 2019 4:47PM ET
BB&T
America   BB&T would merge SunTrust Bank with and into its subsidiary

The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) announced that they will jointly hold two public meetings on the proposed merger of BB&T Corporation, Winston-Salem, North Carolina, with SunTrust Banks, Inc., Atlanta, Georgia.


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As part of the proposal, BB&T would merge SunTrust Bank with and into its subsidiary state non-member bank, Branch Banking and Trust Company, Winston-Salem, North Carolina.

The purpose of the meetings is to collect information relating to the convenience and needs of the communities to be served, including a review of the insured depository institutions' performance under the Community Reinvestment Act.

The agencies also will consider and collect information on other factors relevant to making a decision on the application, including the effects of the proposal on the stability of the U.S. banking or financial system, the financial and managerial resources and future prospects of the companies, and competition in the relevant markets.

The first public meeting will be held:

Thursday, April 25 at 8:30 a.m., EDT
Charlotte Branch of the Federal Reserve Bank of Richmond
530 East Trade Street, Charlotte, North Carolina

The second public meeting will be held:

Friday, May 3, at 8:30 a.m., EDT
Federal Reserve Bank of Atlanta
1000 Peachtree Street N.E., Atlanta, Georgia.

 

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