BB&T Corporation today announced it has completed its acquisition of Susquehanna Bancshares, Inc. effective Aug. 1, 2015. Susquehanna is now operating as a division of Branch Banking and Trust Company. The core banking systems conversion is expected during the fourth quarter of 2015.

“We are pleased to complete this strategic transaction and excited to welcome our new shareholders, clients and associates as we continue moving forward with the smooth integration of these two companies,” said Chairman and Chief Executive Officer Kelly S. King. “As we move toward systems conversion, our clients can continue to expect the same award-winning client service from the same friendly faces at Susquehanna Bank.”

SEE RELATED: IT’S A DEAL! BB&T ACQUIRES SUSQUEHANNA BANK

The acquisition, which was announced in November 2014, includes more than 240 branches in Pennsylvania, Maryland, New Jersey and West Virginia, giving BB&T 2,138 financial centers throughout its footprint. The merger includes approximately $13.8 billion in deposits, and total assets of $18.7 billion based on March 31, 2015, balances. BB&T received the required regulatory approvals for the acquisition earlier this year.

BB&T Corporation also 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. As part of the acquisition, Susquehanna Bank merged with and into Branch Banking and Trust Company.

BB&T is one of the largest financial services holding companies in the U.S. with $191.0 billion in assets and market capitalization of $29.6 billion, as of June 30, 2015. Based in Winston-Salem, N.C., the company operates 1,903 financial centers in 13 states and Washington, D.C.

Subscribe to LititzDailyNews.com for FREE to receive stories by email to your inbox. LIKE the LititzDailyNews.com Facebook page. Follow LititzDailyNews.com on Twitter and on @LititzDailyNews on Instagram, where you can tag us in your photos for possible publication.

Donate to support publication of LititzDailyNews.com. You contribution is not tax deductible, as we are not a 503(c) non-profit.


Lynn Rebuck Editor@LititzDaily.com

Lynn Rebuck
Editor@LititzDaily.com

Lynn Rebuck solo-publishes LititzDailyNews.com, the multi-award-winning, independent digital news site. An innovator in digital publishing, Lynn publishes out of her passion for Lititz and for positive news.

LititzDailyNews.com won 4 top digital publishing awards  on the East Coast in only its first six months of publication, including Best Overall Digital Experience, Best Use of Multimedia, Best Use of Social Media, and Best Use of Technology in two divisions of the 2015 America East Digital Media Contest against publishers with multiple imprints, large staffs, and significant budgets.  LititzDailyNews.com is the only paper awarded such distinction in Lancaster County this year.