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BB&T/National Penn deal closes

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BB&T/National Penn deal closes

Winston-Salem, N.C.-based BB&T Corp. ($209.95 billion) completed itsacquisition ofAllentown, Pa.-based National PennBancshares Inc. ($9.60 billion) effective April 1.

The core banking systems conversion, along with signage andaccount changes for clients, is expected early in the third quarter of 2016,according to an April 4 press release.

The acquisitionincludes 126 banking offices in Pennsylvania, New Jersey and Maryland, givingBB&T 2,265 financial centers throughout its footprint. The acquisition ofNational Penn will significantly expand BB&T's footprint in the mid-Atlanticregion and improve its deposit market share to No. 4 in Pennsylvania, accordingto the news release.