SunTrust Banks and BB&T Corporation announced today that both companies’ boards of directors have unanimously approved an agreement to combine in an all-stock merger of equals valued at approximately $66 billion. The combined company will be the sixth largest US bank based on assets and deposits.
The pro forma company will have approximately $442 billion in assets, $301 billion in loans, and $324 billion in deposits serving more than 10 million households in the United States, with....