Joint Release Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
For immediate release March 14, 2019
Agencies Announce Two Public Meetings on Merger of BB&T and SunTrust;
Public Comment Period Extended
The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on
Thursday announced that they will jointly hold two public meetings on the proposed
merger of BB&T Corporation, Winston-Salem, North Carolina, with SunTrust Banks,
Inc., Atlanta, Georgia. As part of the proposal, BB&T would merge SunTrust Bank with
and into its subsidiary state non-member bank, BranchBanking and Trust Company,
Winston-Salem, North Carolina.
The purpose of the meetings is to collect information relating to the convenience and
needs of the communities to be served, including a review of the insured depository
institutions' performance under the Community Reinvestment Act. The agencies also
will consider and collect information on other factors relevant to making a decision on
the application, including the effects of the proposal on the stability of the U.S. banking
or financial system, the financial and managerial resources and future prospects of the
companies, and competition in the relevant markets.
The first public meeting will be held:
Thursday, April 25 at 8:30 a.m., EDT
Charlotte Branch of the Federal Reserve Bank of Richmond
530 East Trade Street, Charlotte, North Carolina
The second public meeting will be held:
Friday, May 3, at 8:30 a.m., EDT
Federal Reserve Bank of Atlanta
1000 Peachtree Street N.E., Atlanta, Georgia.
All persons wishing to testify at the public meeting in Charlotte should submit a written
request no later than 5:00 p.m. EDT on Monday, April 15, 2019. A request to testify at
the Charlotte public meeting may be sent by mail to: Matthew Martin, Vice President,
Research Department, Microeconomics and Research Communications, Federal
Reserve Bank of Richmond, 530 East Trade Street, Charlotte, North Carolina, 28202;
by online form at: the Charlotte Public Meeting Request Form; by e-mail
to: publicmeeting.charlotte@rich.frb.org; or by facsimile: 704-358-2300.
Federal Deposit Insurance Corporation
For immediate release March 14, 2019
Agencies Announce Two Public Meetings on Merger of BB&T and SunTrust;
Public Comment Period Extended
The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on
Thursday announced that they will jointly hold two public meetings on the proposed
merger of BB&T Corporation, Winston-Salem, North Carolina, with SunTrust Banks,
Inc., Atlanta, Georgia. As part of the proposal, BB&T would merge SunTrust Bank with
and into its subsidiary state non-member bank, BranchBanking and Trust Company,
Winston-Salem, North Carolina.
The purpose of the meetings is to collect information relating to the convenience and
needs of the communities to be served, including a review of the insured depository
institutions' performance under the Community Reinvestment Act. The agencies also
will consider and collect information on other factors relevant to making a decision on
the application, including the effects of the proposal on the stability of the U.S. banking
or financial system, the financial and managerial resources and future prospects of the
companies, and competition in the relevant markets.
The first public meeting will be held:
Thursday, April 25 at 8:30 a.m., EDT
Charlotte Branch of the Federal Reserve Bank of Richmond
530 East Trade Street, Charlotte, North Carolina
The second public meeting will be held:
Friday, May 3, at 8:30 a.m., EDT
Federal Reserve Bank of Atlanta
1000 Peachtree Street N.E., Atlanta, Georgia.
All persons wishing to testify at the public meeting in Charlotte should submit a written
request no later than 5:00 p.m. EDT on Monday, April 15, 2019. A request to testify at
the Charlotte public meeting may be sent by mail to: Matthew Martin, Vice President,
Research Department, Microeconomics and Research Communications, Federal
Reserve Bank of Richmond, 530 East Trade Street, Charlotte, North Carolina, 28202;
by online form at: the Charlotte Public Meeting Request Form; by e-mail
to: publicmeeting.charlotte@rich.frb.org; or by facsimile: 704-358-2300.
All persons wishing to testify at the public meeting in Atlanta should submit a written
request no later than 5:00 p.m. EDT on Tuesday, April 23, 2019. A request to testify at
the Atlanta public meeting may be sent by mail to: Karen Leone de Nie, Vice President
Community and Economic Development, Federal Reserve Bank of Atlanta, 1000
Peachtree Street N.E., Atlanta, Georgia, 30309; by online form at: Atlanta Public
Meeting Request Form; by e-mail to: atlfedcomdev@atl.frb.org; or by facsimile to: 404-
498-8956.
The request to testify should include the following information:
1. A brief statement of the nature of the expected testimony, including whether the
testimony will support or oppose the proposed transactions or provide other comment
on the proposal;
2. The address and telephone number, and e-mail address and facsimile number, if
available, of the individual testifying; and
3. The identification of any special needs, such as translation services, physical
disabilities requiring assistance, or presentations requiring visual aids. Translators
will be provided to the extent available if a need for such services is noted in the
request to testify.
A schedule of participants will be prepared, although to ensure an opportunity for all to
speak, the amount of time for each speaker may be limited. Persons who do not register
in advance to testify may be permitted to speak at the public meetings if time permits.
Individuals interested only in attending the meetings, but not testifying, need not submit
a written request. All individuals who attend either public meeting must present a valid,
government-issued photo identification.
Further information on the applications, including how to testify, review comments
received and the transcripts of the meetings, will be made available on the Board's
website and the FDIC's website.
The Board and FDIC have also extended the public comment period for both
applications until Friday, May 3, 2019.
Interested parties also are invited to submit written comments on the applications to the
Federal Reserve Bank of Richmond, P.O. Box 27622, Richmond, VA 23261, and to the
FDIC's Atlanta Regional Office, 10 10th Street, NW, Suite 800, Atlanta, GA 30309-3849.
Comments can also be sent electronically to comments.applications@rich.frb.org and
to BankMergerApplication@fdic.gov.
Attachment:
FDIC Webpage Dedicated to the File of Application to Merge: SunTrust Bank and BB&T
request no later than 5:00 p.m. EDT on Tuesday, April 23, 2019. A request to testify at
the Atlanta public meeting may be sent by mail to: Karen Leone de Nie, Vice President
Community and Economic Development, Federal Reserve Bank of Atlanta, 1000
Peachtree Street N.E., Atlanta, Georgia, 30309; by online form at: Atlanta Public
Meeting Request Form; by e-mail to: atlfedcomdev@atl.frb.org; or by facsimile to: 404-
498-8956.
The request to testify should include the following information:
1. A brief statement of the nature of the expected testimony, including whether the
testimony will support or oppose the proposed transactions or provide other comment
on the proposal;
2. The address and telephone number, and e-mail address and facsimile number, if
available, of the individual testifying; and
3. The identification of any special needs, such as translation services, physical
disabilities requiring assistance, or presentations requiring visual aids. Translators
will be provided to the extent available if a need for such services is noted in the
request to testify.
A schedule of participants will be prepared, although to ensure an opportunity for all to
speak, the amount of time for each speaker may be limited. Persons who do not register
in advance to testify may be permitted to speak at the public meetings if time permits.
Individuals interested only in attending the meetings, but not testifying, need not submit
a written request. All individuals who attend either public meeting must present a valid,
government-issued photo identification.
Further information on the applications, including how to testify, review comments
received and the transcripts of the meetings, will be made available on the Board's
website and the FDIC's website.
The Board and FDIC have also extended the public comment period for both
applications until Friday, May 3, 2019.
Interested parties also are invited to submit written comments on the applications to the
Federal Reserve Bank of Richmond, P.O. Box 27622, Richmond, VA 23261, and to the
FDIC's Atlanta Regional Office, 10 10th Street, NW, Suite 800, Atlanta, GA 30309-3849.
Comments can also be sent electronically to comments.applications@rich.frb.org and
to BankMergerApplication@fdic.gov.
Attachment:
FDIC Webpage Dedicated to the File of Application to Merge: SunTrust Bank and BB&T