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Is suntrust and bb&t merging

is suntrust and bb&t merging

An application has been filed with the FDIC to merge SunTrust Bank with and into Branch Banking and Trust Company (BB&T). The FDIC is publishing the. Merger Details. In early February , SunTrust and BB&T announced that they'​ll be merging to become the sixth-largest U.S. bank under a new. In the merger, holders of SunTrust common stock will receive shares (the “​exchange ratio” and such shares, the “merger consideration”) of BB&T common.

Is suntrust and bb&t merging -

The remaining branches could also be overhauled. The brand loyalty that they have carefully cultivated over the years will be lost. Rather than remaining as small, neighborhood bank branches, they could be expanded to provide a wider array of other services, such as communal workspaces or cafes. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. Credit-card holders may need to visit a different website to pay their monthly bills, and back-office systems such as customer support will likely change. It has been in existence since ! Regulations: The Trump administration has reduced regulation and oversight of the banking industry. For instance, the combined entity is likely to cut up a lot of physical brick and mortar branches. Credit-card holders may need to visit a different website to pay their monthly bills, and back-office is suntrust and bb&t merging such tahiry jose breast cancer customer support will likely change. The combined entity should ideally be able to achieve the same level of efficiency with lower costs. Banks could lose customers to other financial services firms, including online banks. SunTrust runs more than 1, branches in the Southeast. The remaining branches could also be overhauled. Technological Budget: According to some analysts, the merger is happening because these second-tier banks want to increase their ability to spend on technology. is suntrust and bb&t merging

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