Southern regional banks BB&T and SunTrust announced Thursday morning they will merge, creating the sixth-largest bank in the country.
The merger is worth about $66 billion in stocks.
>> On WSOCTV.com: Wells Fargo to cut jobs in Charlotte
WSOC-TV has learned the combined company will operate under a new name and be headquartered in Charlotte, North Carolina. The new company will still maintain significant operations and investment in Winston-Salem and Atlanta.
The board of directors of both banks unanimously approved the deal, which is subject to regulators’ approval. If all goes well, it should close by the end of the year.
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