BB&T (BBT) in Winston-Salem, N.C., said Tuesday that it has completed its acquisition of BankAtlantic in Fort Lauderdale, Fla., after it received final approvals from the Federal Reserve Board and the Federal Deposit Insurance Corp.

With the $316 million purchase, BB&T is gaining nearly 80 branches and $3 billion of deposits in five South Florida counties. It said it expects the integration and rebranding of BankAtlantic's branches to be completed sometime in the fourth quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.