BB&T Corp., seeking Federal Reserve approval of its deal to buy United Carolina Bancshares, said it would sell 23 branches and more than $500 million of deposits after the deal.

BB&T, based in Winston-Salem, N.C., said this week that it would divest the branch operations to comply with federal guidelines regulating deposit market share. Seventeen of the 23 branches are now owned by $4.9 billion- asset United Carolina.

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