Just 11 months after announcing its $1.8bn acquisition of National Penn Bank, BB&T has completed its conversion of the 109 acquired branches. After closing 28 of the branches, BB&T now operates 2,263 financial centres across 15 states and North Carolina. The acquisition has added $9.6bn in assets and $6.7bn in deposits to BB&T, leaving the firm with a market capitalisation of $26bn.
Just 11 months after announcing its $1.8bn acquisition of National Penn Bank, BB&T has completed its conversion of the 109 acquired branches. After closing 28 of the branches, BB&T now operates 2,263 financial centres across 15 states and Washington DC. The acquisition has added $9.6bn in assets and $6.7bn in deposits to BB&T, leaving the firm with a market capitalisation of $26bn.