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.

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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.

Read more here.

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Rebecca Ramage-Tuttle, assistant director of the Statewide Independent Living Council of Georgia, says the the DOE rule change is “a slippery slope” for civil rights. (Hyosub Shin/AJC)

Credit: HYOSUB SHIN / AJC