BB&T in Winston-Salem, N.C., will close five National Penn Bancshares branches in Pennsylvania after it completes its acquisition of the Allentown, Pa., company.
There is no projected date for the branch consolidations, although BB&T has said they will not take effect until at least the middle of 2016 when the sale is expected to close.
The $210 billion-asset BB&T is buying the $9.6 billion-asset National Penn for about $1.8 billion. It plans to close or consolidate 25 branches of existing BB&T and overlapping National Penn branches as part of the integration. Most of the proposed closures are 1.5 miles apart or less.
The five branches have a combined deposit total of $165 million, according to the most recent FDIC data. David White, a spokesman for BB&T, said it plans to retain all employees from the branches slated for closure.
The branches to be closed are located in Abington, Elverson, Quarryville, Reading and West Chester.
BB&T will also will one of its own branches in West Lawn, Pa., which it acquired from Susquehanna Bancshares. The West Lawn branch has $58 million in total deposits.