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BB&T to acquire Susquehanna, adding to Mid-Atlantic base

🕐 1 min read

The commercial bank BB&T Corp. is buying Susquehanna Bancshares in a cash-and-stock deal worth about $2.5 billion. The acquisition extends the Winston-Salem, North Carolina-based bank access to the Mid-Atlantic region. Susquehanna has 245 locations in Pennsylvania, Maryland, New Jersey, and West Virginia.

The deal comes on the heels of a September announcement that BB&T would acquire 41 branches from Citigroup Inc., including branches in the Dallas, Houston and Midland areas. That purchase gave BB&T a total of 123 branches in Texas with $5.3 billion in deposits. “Similar to our recently announced market expansion acquisitions in the Dallas, Houston and Cincinnati markets, Susquehanna expands our franchise into a contiguous, attractive region that presents an exciting opportunity for us,” said BB&T Chairman and CEO Kelly King in a statement.  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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