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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BB and T Corporation | NYSE:BBT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 54.24 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________
Form 8-K
Current Report
______________
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
July 7, 2015
Date of Report (Date of earliest event reported)
BB&T Corporation
(Exact name of registrant as specified in its charter)
Commission file number: 1-10853
______________
North Carolina | 56-0939887 |
(State of incorporation) | (I.R.S. Employer Identification No.) |
200 West Second Street | |
Winston-Salem, North Carolina | 27101 |
(Address of principal executive offices) | (Zip Code) |
(336) 733-2000
(Registrant's telephone number, including area code)
______________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 | Other Events |
On July 7, 2015, BB&T Corporation announced it has received regulatory approval from the Federal Reserve, the FDIC and all required state regulators to acquire Susquehanna Bancshares, Inc. (NASDAQ: SUSQ). The transaction closing is expected to be effective August 1, 2015, and systems conversion is expected during the fourth quarter of 2015.
ITEM 9.01 | Financial Statements and Exhibits |
Exhibit No. | Description of Exhibit |
99.1 | Copy of press release announcing that BB&T Corporation received regulatory approvals to acquire Susquehanna Bancshares, Inc. |
S I G N A T U R E
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BB&T CORPORATION | |
(Registrant) | |
By: /s/ Cynthia B. Powell | |
Cynthia B. Powell | |
Executive Vice President and Corporate Controller | |
(Principal Accounting Officer) |
Date: July 8, 2015
Exhibit 99.1
July 7, 2015
FOR IMMEDIATE RELEASE
Contacts: ANALYSTS | MEDIA | |||
Alan Greer | Tamera Gjesdal | Cynthia A. Williams | ||
Executive Vice President | Senior Vice President | Senior Executive Vice President | ||
Investor Relations | Investor Relations | Corporate Communications | ||
(336) 733-3021 | (336) 733-3058 | (336) 733-1470 | ||
AGreer@BBandT.com | TGjesdal@BBandT.com | Cynthia.Williams@BBandT.com |
BB&T receives approval for Susquehanna Bancshares acquisition
Will significantly expand BB&T’s footprint in the Mid-Atlantic region
WINSTON-SALEM, N.C. – BB&T Corporation (NYSE: BBT) today announced it has received regulatory approval from the Federal Reserve, the FDIC and all required state regulators to acquire Susquehanna Bancshares, Inc. (NASDAQ: SUSQ). The transaction closing is expected to be effective Aug. 1, 2015, and systems conversion is expected during the fourth quarter 2015.
“We are very pleased to receive this approval and excited to move forward with the merger,” said Chairman and Chief Executive Officer Kelly S. King. “Susquehanna is a strategically compelling deal expanding our franchise into a contiguous, attractive region that presents tremendous opportunities. The diversity of our markets is a key element of our long-term success.”
Headquartered in Lititz, Pa., Susquehanna is a top 50 bank in the U.S. with more than 240 branch offices in Pennsylvania, Maryland, New Jersey, and West Virginia. The merger includes $18.7 billion in assets and $13.8 billion in deposits based on March 31, 2015, balances. The planned acquisition was originally announced Nov. 12, 2014.
BB&T Corporation previously announced it will create three new geographic banking regions – Western Maryland and Pennsylvania, Central Pennsylvania and the Greater Delaware Valley regions. In addition, BB&T and Susquehanna Bank will consolidate their existing regions in Maryland to form a new Maryland Region.
MORE
About Susquehanna Bank
Susquehanna Bank operates more than 240 branch offices in Pennsylvania, New Jersey, Maryland and West Virginia. It is part of Susquehanna Bancshares, Inc., a financial services holding company with assets of $18 billion and 3,400 employees. Through Susquehanna Wealth Management, the company also offers investment, fiduciary, brokerage, insurance, retirement planning, and private banking services. Susquehanna also operates a risk management consulting and insurance brokerage firm, a commercial finance company and a vehicle leasing company. For more information, please visit www.susquehanna.net.
About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $189.2 billion
in assets and market capitalization of $28.2 billion, as of March 31, 2015. Based in Winston-Salem, N.C., the company operates
1,875 financial centers in 13 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities
brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized
for outstanding client satisfaction by the U.S. Small Business Administration, Greenwich Associates and others. More information
about BB&T and its full line of products and services is available at BBT.com.
###
This news release contains certain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results may differ materially from current projections. Please refer to BB&T's filings with the Securities and Exchange Commission for a summary of important factors that may affect BB&T's forward-looking statements. BB&T undertakes no obligation to revise these statements following the date of this news release.
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