BB&T Corp. got a key regulatory approval to buy Susquehanna
Bancshares Inc., marking the bank's second deal to get a green
light in as many months.
The Federal Reserve on Tuesday said it approved the
Winston-Salem, N.C.-based bank's application to buy Susquehanna.
The deal, for about $2.5 billion in cash and stock, was announced
last November and will expand BB&T's footprint in the
mid-Atlantic region.
In June, BB&T said it received approval from regulators to
buy Bank of Kentucky Financial Corp.
The approvals come as other banks have struggled to get
regulatory approval for deals. Kelly King, chief executive and
chairman of BB&T, said in an interview last month that the bank
could announce more deals after the Susquehanna purchase
closes.
"We're optimistic that there will be some other opportunities
for BB&T to combine with good institutions," Mr. King said.
The Federal Deposit Insurance Corporation approved the
Susquehanna purchase in April. BB&T didn't immediately return a
request for comment.
Write to Rachel Louise Ensign at rachel.ensign@wsj.com
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