BB&T Corp., the buyer of 16 small banks in the last four years, set its sights on a larger target Monday, announcing a $1.2 billion stock deal for One Valley Bancorp in Charleston, W.Va.

One Valley, which has $6.6 billion of assets and 123 branches in Virginia and West Virginia, is more than three times the size of BB&T's largest 1999 acquisition and the largest quarry BB&T has pursued since its 1995 merger of equals with Southern National Corp.

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