BB&T Corporation today announced it has completed its acquisition of Susquehanna Bancshares, Inc., effective Aug. 1.
“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.”
The acquisition, which was announced in November, 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 andPennsylvania, 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.