TRUIST FINANCIAL CORP acquired National Penn Bancshares, Inc. for approximately $1.8 billion, a transaction completed in April 2016, structured as combination (cash and stock).
National Penn Bancshares, Inc. operates in Community banking - Mid-Atlantic (Pennsylvania), is based in Allentown, Pennsylvania. BB&T acquired National Penn Bancshares, Inc. (NASDAQ: NPBC), headquartered in Allentown, PA, in a cash-and-stock transaction valued at approximately $1.8 billion. National Penn had about $9.6 billion in assets, $7.0 billion in deposits and 124 banking offices in Pennsylvania as of Sept. 30, 2015, lifting BB&T to a combined #4 ranking in Pennsylvania.
Strategically compelling, financially attractive transaction that expands the Mid-Atlantic footprint and complements the legacy Susquehanna franchise with BB&T's community banking model.
Combined #4 deposit ranking in Pennsylvania; EPS accretive with strong IRR; complements the Susquehanna acquisition completed months earlier. Integrated into BB&T's Mid-Atlantic community banking operations.
National Penn is a strategically compelling deal that complements the legacy Susquehanna franchise and presents enormous opportunities to leverage our proven community banking capabilities in these mid-Atlantic markets.Kelly S. King, Chairman and CEO, BB&T Corporation
Advisory firms were not disclosed for this transaction.