TRUIST FINANCIAL CORP acquired Susquehanna Bancshares, Inc. for approximately $2.5 billion, a transaction completed in August 2015, structured as combination (cash and stock).
Susquehanna Bancshares, Inc. operates in Community banking - Mid-Atlantic, is based in Lititz, Pennsylvania (operations in PA, MD, NJ and WV). BB&T acquired Susquehanna Bancshares, Inc. (NASDAQ: SUSQ), a Lititz, PA-based top-50 U.S. bank with $18.6 billion in assets, $13.6 billion in deposits and 245 banking offices across Pennsylvania, Maryland, New Jersey and West Virginia, in a cash-and-stock transaction valued at approximately $2.5 billion. The deal significantly expanded BB&T's Mid-Atlantic footprint and improved its ranking to #5 in Maryland.
Strategically compelling, financially attractive market extension of BB&T's Mid-Atlantic footprint with a strong fit to BB&T's culture and community banking model.
Attractive market extension; second-largest bank headquartered in Pennsylvania; combined #5 ranking in Susquehanna's markets; EPS accretive with strong IRR. Integrated into BB&T's community banking operations; systems conversion expected during Q4 2015.
Advisory firms were not disclosed for this transaction.