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The Fed determined that the purchase of Susquehanna Bancshares, which would push BB&T's assets above $200 billion, will not pose a threat to the U.S. financial system. The approval could give more regional banks confidence to pursue bigger acquisitions.
July 7 -
BB&T will dismiss most of a 21-person small business lending group who had been employed by Susquehanna Bancshares.
August 6 -
BB&T in Winston-Salem, N.C., plans to close 25 branches as part of its integration of National Penn Bancshares in Allentown, Pa.
August 19
MVB Financial in Fairmont, W.Va., has purchased two former Susquehanna Bank branches in West Virginia from BB&T.
The $1.3 billion-asset MVB disclosed in a regulatory filing Tuesday that it bought branches in Martinsburg and Inwood. The deal included $69 million of deposits and $17 million of loans. Financial terms were not disclosed.
The $191 billion-asset BB&T in Winston-Salem, N.C., was required by the Justice Department and the Federal Reserve Board to sell the branches as a condition of its
MVB has five branches in West Virginia's Eastern Panhandle, along with seven branches in the rest of the state.
Deutsche Bank Securities and Wachtell, Lipton, Rosen & Katz advised BB&T. Squire Patton Boggs advised MVB.
