Just 11 months after announcing its $1.8bn acquisition of BB&T, National Penn Bank has completed its conversion of the 109 acquired branches. After closing 28 of the branches, National Penn Bank 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 National Penn Bank, 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.