On Friday, Shares of BB&T Corporation (NYSE:BBT), lost -1.67% to $35.87.
BB&T Corporation and National Penn Bancshares, declared the signing of a definitive agreement under which BB&T will acquire National Penn in a cash and stock transaction for total consideration valued at about $1.8 billion. This acquisition will significantly expand BB&T’s footprint in the Mid-Atlantic region and improve its deposit market share to #4 in Pennsylvania.
National Penn, headquartered in Allentown, Pa., has $9.6 billion in assets, $6.7 billion in deposits and 124 banking offices in Pennsylvania, New Jersey and Maryland.
“The acquisition of National Penn provides a tremendous opportunity to strengthen our franchise in Pennsylvania and continue building the scale necessary to operate efficiently and with high quality service,” said BB&T Chairman and Chief Executive Officer Kelly S. King. “As the fourth largest bank in the state, we will have a noteworthypresence in these markets. BB&T will have the breadth of market coverage combined with excellent client service levels that will allow us to grow our client base.”
BB&T Corporation operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services.
Shares of SunTrust Banks, Inc. (NYSE:STI), declined -1.32% to $38.81, during its last trading session.
SunTrust Banks, planned to make a presentation at the Barclays Global Financial Services Conference on Thursday, September 17, 2015.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services in the United States. The company operates in three segments: Consumer Banking and Private Wealth Administration, Wholesale Banking, and Mortgage Banking.
Finally, E*TRADE Financial Corp (NASDAQ:ETFC), ended its last trade with -0.94% loss, and closed at $25.37.
E*TRADE Financial Corporation, declared that it will present at the Barclays Global Financial Services Conference.
Barclays Global Financial Services Conference
- Thursday, September 17, 2015
New York, NY, at 8:15 a.m. ET
Paul Idzik, Chief Executive Officer
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand name. It operates through two segments, Trading and Investing, and Balance Sheet Administration.
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