WILSON, N.C. -- BB&T Financial Corp. announced plans to acquire Asheville (N.C.) Savings Bank.

The thrift would first be converted from mutual to stock ownership. The merger-conversion was approved by both companies' boards.

Asheville Savings, with $325 million in assets and nine branches, would merge into Branch Banking and Trust Co. The briefs were compiled from staff and wire reports.

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.