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BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson. [14]
BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson. [5]
Indeed, the stock's biggest distinguishing factor is probably its priciness. Valued at 14.1 times trailing earnings, shares of BB&T cost 14% more than 3 Predictions for BB&T Stock
In February 2019, SunTrust Banks announced its pending purchase by BB&T for $28 billion in an all-stock deal, creating the sixth largest U.S. lender, being the biggest bank deal since the 2007-2008 financial crisis. [6] On December 6, 2019, the merger between BB&T and SunTrust closed, forming Truist Financial Corporation. [7]
BB&T and SunTrust (merger of equals) $66 billion. Bank failures can lead to acquisitions. In 2023, Silicon Valley Bank, Signature Bank and First Republic all failed as a result of customers ...
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Orr and new BB&T chairman John Allison said the merger would likely prevent out-of-state banks from taking over. Orr retired once the merger was complete. [16] The headquarters became BB&T Financial Center. [17] On May 19, 1997, Southern National Corp. changed its name to BB&T Corp. and its stock symbol SN to BBT. [18]