Charlotte Talks: 'Stunning' Merger Of BB&T and SunTrust
Tuesday, Feb. 12, 2019
Eyebrows shot up across the banking industry last week with the sudden merger proposal between BB&T and SunTrust. How did this marriage come together, and what will it mean for Charlotte?
Charlotte suddenly gained a bank headquarters with the surprise merger of Winston-Salem's BB&T and Atlanta's SunTrust, whose hometown paper, The Atlanta Journal-Constitution, described the deal as "an echo of the bank consolidation waves of the 1980s, 1990s and 2000s when top Atlanta banks were gobbled up by their North Carolina rivals."
Not since the Great Recession has there been a bank merger of this magnitude. If approved, the $66 billion deal would create the country's sixth-largest bank.
How did this come together, and so quickly? What will it mean for employees? For Charlotte?
David Boraks, reporter, WFAE (@davidboraks)
Caroline Hudson, staff writer, Charlotte Business Journal (@CBJHudson)