BB&T announces merger with SunTrust

BB&T, which operates three branches in Hopkinsville, is buying SunTrust Banks in an all stock deal for $28 billion and creating the sixth largest bank in the United States.

The company announced the merger Thursday morning and is expected to operate under a new name with an estimated $442 billion in assets, $324 billion in deposits and $301 billion in loans.

The combined company will cover the east coast with the corporate headquarters in Charlotte, North Carolina.

BB&T acquired what had been Area Bank in 2002. First City Bank of Hopkinsville merged with Area Bank two years prior to that in October of 2000.