WINSTON-SALEM, N.C. — The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corp. approved the merger between Winston-Salem based BB&T (NYSE: BBT) and Atlanta-based SunTrust Bank (NYSE: STI) on Tuesday, clearing the way for the two banks to form the nation's sixth-largest bank.
The merger is the largest between banks since the financial crisis hit in 2007.
BB&T and SunTrust expect to complete the merger on Dec. 6, pending satisfaction of customary closing conditions, according to a release from BB&T.
To read more details on when this merger will be completed and how it could change things, click here to read the full story on the Triad Business Journal.