TRUIST FINANCIAL acquisition history

Truist's wholly owned subsidiary Truist Bank agreed to acquire Service Finance Company, a Boca Raton, Florida-based national provider of point-of-sale (POS) financing solutions for the home improvement industry. Service Finance uses proprietary technology to deliver payment solutions to more than 14,000 home improvement dealers and contractors, helping them offer prime and super-prime borrowers financing for a wide range of projects. The deal expanded Truist's POS lending business, which already included Sheffield Financial.

Truist Insurance Holdings, a Truist subsidiary and one of the largest U.S. insurance brokerages, agreed to acquire BenefitMall, the nation's largest benefits wholesale general agency, from funds managed by Carlyle. BenefitMall provides medical, dental, life, vision and long-term care benefits solutions through a network of roughly 20,000 retail brokers, serving more than 140,000 small and medium-sized businesses. The business was to be combined into Truist's CRC Group wholesale distribution arm.

Commerce Bank was a Virginia Beach, Virginia community bank serving the Hampton Roads market. BB&T Financial Corporation acquired it to establish its first banking presence in Virginia, using the Hampton Roads franchise as a platform for expansion across the commonwealth.

BB&T agreed to acquire MidAmerica Bancorp of Louisville, Kentucky, parent of the Bank of Louisville, in a transaction valued at roughly $372.4 million. MidAmerica held about $1.8 billion in assets and operated 30 banking offices across the Louisville metropolitan area. The deal was one of two Kentucky acquisitions BB&T announced the same day, alongside AREA Bancshares.

This is a key acquisition because it gives us significant entry into the most attractive banking market in Kentucky. MidAmerica Bancorp does a great job of providing personal, attentive service to its clients which makes them a perfect partner for BB&T.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BB&T agreed to acquire AREA Bancshares Corporation of Owensboro, Kentucky, then the largest independent bank holding company in the state, in a stock swap valued at about $450.6 million. AREA held roughly $2.95 billion in assets and operated 72 banking offices in 39 Kentucky communities through its subsidiary AREA Bank, along with a trust company and retail brokerage. The transaction was announced the same day as BB&T's acquisition of Louisville's MidAmerica Bancorp.

AREA Bancshares Corporation is a high-quality community bank dedicated to the highest standard of client service. This acquisition provides BB&T with a solid statewide presence in economically attractive Kentucky markets.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BB&T agreed to acquire privately held Regional Financial Corporation of Tallahassee, Florida, the holding company for First South Bank, in a stock swap valued at about $274.6 million. First South was a roughly $1.6 billion thrift and one of Florida's largest mortgage originators, operating 11 full-service branches, three limited-service branches and eight mortgage production offices across the Panhandle, Jacksonville and the Gulf Coast. The deal marked BB&T's first entry into Florida.

This is an important acquisition because it gives us entry into some of Florida's most economically attractive markets and provides a firm foundation for future expansion in one of the nation's fastest growing states.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BB&T agreed to acquire Equitable Bank of Wheaton, Maryland, in a stock swap valued at about $52.6 million. Equitable held roughly $477 million in assets and operated five full-service banking offices in Montgomery and Prince George's counties in the Washington, D.C. suburbs. Founded in 1879, it had converted from a mutual savings and loan to a public institution in 1993.

Equitable Bank is a customer-oriented and service-driven financial services company. They will fit nicely into our community banking structure where nearly all decisions are made at the local level. This transaction also will enhance our market presence in the strategically important metro Washington area.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BB&T agreed to acquire Republic Bancshares Inc. of St. Petersburg, Florida, in a transaction valued at about $436 million, representing its second Florida acquisition. Republic held roughly $2.8 billion in assets and operated 71 banking offices along the Gulf Coast and in central and southern Florida, including St. Petersburg, Tampa, Clearwater, Orlando, West Palm Beach, Boca Raton and Fort Lauderdale. The deal was expected to raise BB&T's Florida branch count to 89.

This is a key acquisition because it expands our presence in Florida, which has an underlying growth rate that is faster than that of our core markets.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BB&T agreed to acquire privately held First Citizens Bancorp of Cleveland, Tennessee, in a transaction valued at about $142.6 million, strengthening its presence in east Tennessee along the fast-growing Interstate 75 corridor between Knoxville and Chattanooga. With about $686-$700 million in assets, First Citizens was the fourth-largest bank in east Tennessee, operating 16 full-service banking centers in Tennessee, two in North Carolina and one in Georgia through several banking subsidiaries. Shareholders approved the merger on July 11, 2006.

This merger accelerates our long-term earnings growth potential by expanding our Tennessee market. It will allow us to extend our growing Knoxville-based presence toward Chattanooga and on to our existing north Georgia franchise.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

In two related transactions, BB&T (Truist's predecessor) purchased retail bank branches in Texas from Citigroup, entering the Texas retail-banking market at scale. In the second quarter of 2014 it acquired 21 branches in the Austin, Bryan-College Station and San Antonio markets, and in 2015 it acquired 41 additional branches in the Dallas, Houston, Midland and Odessa markets. Together the purchases added roughly 62 branches and about $3.5 billion in deposits across Texas.

BB&T Insurance Services agreed to acquire McGriff, Seibels & Williams, Inc. of Birmingham, Alabama, then BB&T's largest insurance-agency acquisition. McGriff specialized in large commercial and energy accounts, insuring numerous Fortune 500 companies, and was one of the largest privately held commercial insurance brokers in the U.S. The combination was expected to create the sixth-largest insurance broker in the nation.

From a strategic point of view and from a pure quality point of view, McGriff is perfect for BB&T.Wade Reece — President of BB&T Insurance Services

BB&T Insurance Services agreed to acquire Liberty Benefit Insurance Services of San Jose, California, a full-service employee-benefits broker founded in 1991 that serves large commercial clients in the San Francisco Bay Area. The agency, which would operate as BB&T-Liberty Benefit Insurance Services, helps employers manage rising health-care costs, changing regulations and complex benefits administration.

BB&T Insurance Services agreed to acquire Woodbury & Co., an insurance agency based in Wilmington, North Carolina and Myrtle Beach, South Carolina, expanding its presence on the Carolina coasts. Founded in 1932, Woodbury provides commercial property and casualty, employee benefits, individual life and health, personal lines and professional liability coverage to businesses and individuals across the Carolinas, with more than 50 employees.

In May 2001, SunTrust announced the purchase of the institutional business of The Robinson-Humphrey Company, LLC from Citigroup's Salomon Smith Barney unit. The acquisition covered Robinson-Humphrey's investment banking and capital markets divisions along with associated areas such as equity research, and led to the establishment of SunTrust Robinson-Humphrey. The deal significantly enhanced SunTrust's equity capital markets capabilities.

SunTrust Bank agreed to acquire the Florida banking franchise of The Huntington National Bank under a purchase and assumption agreement, taking over Huntington's retail, small business, commercial, treasury management and investment-related businesses in the state. The acquired operations included 106 branches plus 35 supermarket banking outlets and five Private Client Services offices, about $4.7 billion in deposits, roughly $2.6 billion in loans, 453 ATMs and around 1,400 employees. The franchise was integrated into SunTrust's existing Florida banking organization. ~$705 million (deposit premium).

From a corporate perspective, this move fits perfectly with our strategic priority of efficiently leveraging SunTrust's existing position in high growth, demographically attractive markets.L. Phillip Humann — Chairman, President and CEO, SunTrust Banks

SunTrust agreed to acquire Hilton Head Island, South Carolina-based Lighthouse Financial Services, whose principal subsidiary, Lighthouse Community Bank, was the largest financial institution headquartered in Beaufort County. Lighthouse had approximately $577 million in assets and about $200 million in core customer deposits across five branches, and also owned Carswell-Lighthouse Insurance, the area's leading insurance agency. The acquisition expanded SunTrust into the fast-growing South Carolina low-country market.

Affiliation with Lighthouse is consistent with SunTrust's bank acquisition strategy that focuses on expansion into demographically attractive, high-growth markets.L. Phillip Humann — Chairman, President and CEO, SunTrust Banks

SunTrust agreed to acquire Gainesville, Georgia-based GB&T Bancshares, a multi-bank holding company operating seven community banks with 30 branches in north and central Georgia, including the fast-growing Atlanta suburbs. As of September 30, 2007, GB&T had approximately $2 billion in assets, $1.5 billion in deposits and about 500 employees. The GB&T franchise was to be integrated primarily into SunTrust's Atlanta banking region.

With this transaction we're taking advantage of an unusually attractive and timely opportunity to efficiently expand our Metro Atlanta franchise in line with our long-term growth strategies and consistent with our high financial standards and disciplined approach to mergers.James M. Wells III — President and CEO, SunTrust Banks

W. Brown & Associates Property & Casualty is an Irvine, California-based wholesale surplus lines broker and managing general agent (MGA). Truist acquired it through CRC Group, its national wholesale specialty insurance distributor, extending the CRC Binding franchise into California with a physical office presence for the first time.

Specialty Risk Associates, Inc. is a Shreveport, Louisiana-based surplus lines broker and managing general agent recognized in the binding, transportation and personal lines segments across Louisiana, Mississippi and Texas. Truist acquired it through CRC Group to deepen its wholesale binding and personal-lines capabilities.

Program Insurance Management of Sarasota is a Sarasota, Florida-based managing general underwriter offering specialized insurance programs for industrial chemical manufacturers and distributors. Truist Insurance Holdings acquired it to broaden the program and specialty underwriting capabilities of its wholesale division.

Wellington Risk Holdings is a Texas-based managing general agent and insurtech operating in admitted residential property markets, running a virtual marketplace with an agent portal and flexible pricing for competitive homeowners insurance products. It retained its name and joined AmRisc, Truist's MGA for catastrophe and specialty commercial property.

The acquisition of Wellington provides a terrific opportunity to further build our business and reflects the importance we place on innovation.John Howard — Chairman and CEO, Truist Insurance Holdings

Fidelis Group Holdings is a Covington, Louisiana-based provider of specialty insurance products for the marine and cargo industries. Truist Insurance Holdings acquired it to add marine and cargo specialty underwriting to its wholesale division.

Constellation Affiliated Partners is a New York-based insurance distribution platform operating seven managing general agents and program managers specializing in contractors' general liability, transportation, condominium/homeowners association, and professional liability insurance. Truist acquired it from RedBird Capital Partners and integrated it into CRC Group.

The Constellation Affiliated Partners transaction is a key acquisition that will further build out our national programs business.John Howard — Chairman and CEO, Truist Insurance Holdings

Truist acquired the Arena data-governance platform and related strategic assets from Zaloni, a Raleigh-area data-technology company. The Arena platform delivers trusted data for advanced analytics and AI/ML through an intelligent data catalog, automated governance and unified observability. Zaloni founder Ben Sharma, CTO Ashwin Nayak and about 20 product, engineering and data professionals joined Truist's Enterprise Data Office.

Data and analytics are essential to delivering on the needs of our clients, teammates, and stakeholders. I'm thrilled that this deal includes the talented team that built the Arena platform, and that they will continue their data innovation journey as Truist teammates.Tracy Daniels — Chief Data Officer, Truist

BankDirect Capital Finance is a nationwide insurance premium finance company headquartered near Chicago, providing premium financing across property & casualty and life insurance products through five U.S. offices. Truist acquired it from Texas Capital Bank (a subsidiary of Texas Capital Bancshares) in an all-cash transaction, adding over $3 billion of low-risk, variable-rate loans and expanding into life-insurance premium finance and the West Coast.

BankDirect brings a strong track record of growth and success in the premium finance business, much like what we've achieved with our AFCO and CAFO organizations.John Howard — Chief Insurance Officer, Truist

Truist acquired Long Game, a gamified personal-finance mobile app that uses prize-linked savings and casual gaming to encourage smart financial behaviors and drive account growth and client retention. Long Game's engineers, designers and leaders joined Truist's Innovation team, with co-founder and CEO Lindsay Holden leading a San Francisco-based group building new client-facing solutions. The app's architecture aligned with Truist's existing technology stack and complemented its Truist Momentum financial-wellness program.

Kensington Vanguard National Land Services, founded in 2002, is one of the largest independent full-service national title insurance agencies in the U.S., providing commercial and residential title insurance, settlement, escrow and 1031 exchange services (including Legal 1031 Exchange Services). Truist acquired it and merged its existing BridgeTrust Title operation into the platform.

All-stock merger of equals between BB&T Corporation and SunTrust Banks, Inc. creating Truist Financial Corporation, the sixth-largest U.S. bank by assets and deposits, with roughly $442 billion in assets, $301 billion in loans and $324 billion in deposits serving more than 10 million households. The combined company adopted a new name and brand and established a new corporate headquarters in Charlotte, NC. approximately $66 billion (all-stock merger of equals).

This is a true merger of equals, combining the best of both companies to create the premier financial institution of the future.Kelly S. King — Chairman and CEO, BB&T Corporation

This is a historic moment for Truist - a financial services organization built to make a difference.Truist Financial Corporation (Dec. 9 — 2019 completion press release)

SunTrust Bank acquired substantially all of the assets of the operating subsidiaries of Pillar Financial, LLC, a multi-family agency lending and servicing company with an originate-to-distribute focus that held licenses with Fannie Mae, Freddie Mac and the FHA. The acquired assets included Pillar's multi-family lending business (affordable housing, healthcare properties, senior housing and manufactured housing specialty teams) and Chicago-based Cohen Financial's commercial real estate investor-services and mortgage banking business. The business was expected to contribute roughly $90 million of annual revenue to SunTrust's Wholesale Banking segment beginning in 2017.

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.

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

BB&T agreed to acquire CGSC North America Holdings Corporation, the wholesale insurance broker known as Swett & Crawford, from Cooper Gay Swett & Crawford. Swett & Crawford is one of the most respected U.S. wholesale insurance brokers, with a history extending more than 100 years serving the commercial insurance marketplace. The transaction excluded Swett & Crawford's non-U.S. business, which accounted for less than 5% of its revenue.

Swett & Crawford nicely enhances our insurance business and increases and diversifies our overall fee income profile. With its long history and broad offerings, Swett & Crawford is a great strategic fit for BB&T.Kelly S. King — BB&T Chairman and Chief Executive Officer

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.

BB&T agreed to acquire The Bank of Kentucky Financial Corporation of Crestview Hills, Kentucky, in a cash-and-stock transaction, establishing a presence in the Northern Kentucky and Cincinnati market. The Bank of Kentucky had about $1.9 billion in assets, $1.6 billion in deposits and 32 banking offices, and was the leading bank in Northern Kentucky. The deal created a new BB&T banking region and moved BB&T to the No. 2 position in Kentucky.

We are extremely excited to welcome our new clients and associates in these vibrant markets to BB&T. The Bank of Kentucky's dedication to community investment and disciplined approach to business are a perfect fit with BB&T's culture.Kelly S. King — BB&T Chairman and Chief Executive Officer

BB&T acquired Fort Lauderdale-based BankAtlantic, the primary subsidiary of BankAtlantic Bancorp, in a deposit-premium transaction that significantly accelerated its expansion in Southeast Florida. BB&T assumed approximately $3.3 billion in core, low-cost deposits and acquired roughly $2.1 billion in loans across 78 branches between Port St. Lucie and Miami, moving its Miami-market rank from No. 14 to No. 6. The original November 2011 agreement was restructured in March 2012 to resolve litigation, after which BB&T also assumed BankAtlantic Bancorp's trust preferred securities obligations. $301 million premium.

This acquisition of BankAtlantic is a compelling strategic expansion into important long-term markets in Southeast Florida. It significantly accelerates the build-out of our franchise in the Miami and Port St. Lucie markets.Kelly S. King — Chairman and Chief Executive Officer, BB&T Corporation

BB&T agreed to acquire the life and property-and-casualty insurance operating divisions of Roseland, New Jersey-based Crump Group Inc. - Crump Life Insurance Services and Crump Property & Casualty Insurance Services. Crump was the largest independent wholesale distributor of life insurance and one of the largest wholesale commercial insurance brokerage and specialty-program providers in the U.S. The transaction excluded Crump's retirement services business (Ascensus).

As the largest independent wholesale life insurance distributor in the country, the Crump acquisition significantly expands and strengthens our insurance operations. The deal is a great strategic fit for BB&T, immediately increasing and diversifying our fee income while driving stronger revenues.Kelly S. King — BB&T Chairman and Chief Executive Officer

In an FDIC-assisted transaction, BB&T acquired the banking operations of Colonial Bank of Montgomery, AL after Alabama regulators closed the bank and named the FDIC as receiver. BB&T acquired approximately $22 billion in net assets and assumed approximately $20 billion in deposits, with the FDIC and BB&T entering a loss-sharing agreement covering substantially all acquired loans and securities. It was BB&T's largest acquisition in its then-137-year history.

Today's announcement represents an exciting growth opportunity for BB&T. We're gaining solid market shares in great markets in Alabama, Florida and Georgia. And it comes with minimal asset risk to BB&T because of our loss sharing agreement with the FDIC.Kelly King — CEO, BB&T Corporation

In an FDIC-assisted transaction, BB&T's Branch Banking and Trust Company assumed approximately $506 million in deposits of Haven Trust Bank of Duluth, Georgia, after the bank was closed by regulators. BB&T acquired the failed bank's deposits through an agreement with the Federal Deposit Insurance Corporation. The purchase added deposits in the metro Atlanta area.

BB&T acquired Coastal Financial Corporation of Myrtle Beach, South Carolina, parent of federal savings bank Coastal Federal Bank, in a transaction announced at about $394.6 million and completed at roughly $369.7 million. Coastal held about $1.7 billion in assets and operated 24 banking offices, 17 in the greater Myrtle Beach area and seven in greater Wilmington, North Carolina. The deal gave BB&T the No. 1 deposit market share in the metro Myrtle Beach market.

Coastal Financial is an excellent community bank with an operating philosophy centered around highly personal service. Coastal cities in the Carolinas continue to be some of the highest performing markets anywhere in our footprint, and that certainly includes the economically attractive Myrtle Beach and Wilmington areas.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BB&T acquired Main Street Banks Inc. of metropolitan Atlanta, the largest community bank in metro Atlanta, in an all-stock swap announced at about $622.7 million and completed at roughly $599 million. Main Street held about $2.3-$2.5 billion in assets and operated 24 full-service banking centers and five insurance offices in the Atlanta and Athens, Georgia, metro areas. It was BB&T's first bank acquisition since Republic Bancshares in April 2004.

Our acquisition strategy remains the same - to pursue very high quality banks and thrifts that improve our financial performance and franchise value. So we could not be more pleased with the prospects of a merger with Main Street Banks, one of the best community banking franchises in the Southeast.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

SunTrust and Memphis-based National Commerce Financial Corporation agreed to merge, creating a financial services franchise concentrated in the fast-growing Southeastern United States. The combined company, operating as SunTrust, would rank as the seventh-largest U.S. bank with about $148 billion in assets, $97 billion in deposits and 1,723 full-service offices across 11 states plus the District of Columbia. NCF had roughly $23 billion in assets and ranked number three in overall Southeast market share.

National Commerce, with its great franchise, talented people and high standards, is a superb fit for SunTrust. Our companies complement each other perfectly in terms of customer focus, geographic coverage and business orientation.L. Phillip Humann — Chairman, President and CEO, SunTrust Banks

BB&T acquired Falls Church, Virginia-based First Virginia Banks, Inc., in a large all-stock merger that created the nation's 11th largest financial holding company and pushed BB&T's assets above $91 billion. First Virginia had about $11.2 billion in assets and was the parent of eight community banks with 363 branches, 296 in Virginia, 55 in Maryland and 12 in northwest Tennessee. The merger moved BB&T from fifth to second in Virginia deposit market share.

BB&T Corporation late Tuesday completed its acquisition of Falls Church, Va.-based First Virginia Banks Inc. to create the nation's 11th largest financial holding company.BB&T Corporation (July 2 — 2003 press release)

BB&T announced plans to acquire Cooney, Rikard & Curtin, Inc. (CRC) of Birmingham, Alabama, the largest independently owned wholesale insurance broker in the nation. CRC placed property, casualty and professional insurance, primarily for commercial businesses, operating in 45 states with regional offices in Chicago, Los Angeles, Houston, Redondo Beach, Metairie and Boca Raton. The business became BB&T's wholesale insurance brokerage operation.

Community First Banking Company was a Carrollton, Georgia-based bank holding company with $548.1 million in assets operating nine banking offices in western Georgia through its subsidiary Community First Bank (founded 1929), with locations in Carrollton, Bowdon, Franklin, Bremen and other western Georgia communities. The acquisition extended BB&T's Georgia franchise into the fast-growing metropolitan Atlanta market.

Community First Banking Company is a highly successful community bank with an operating philosophy and core values similar to ours.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

F&M National Corporation was a Winchester, Virginia-based bank holding company with $4 billion in assets, the parent of 12 community banking subsidiaries (including pending acquisitions) across Virginia, West Virginia and Maryland, operating 163 banking offices, 13 mortgage banking offices, three trust offices and six insurance offices. The acquisition significantly expanded BB&T's Virginia franchise.

BB&T's acquisition strategy is to pursue very high quality banks and thrifts in our market areas that improve our financial performance and franchise value.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

Virginia Capital Bancshares was a Fredericksburg, Virginia-based holding company with $532.7 million in assets for Fredericksburg State Bank, which operated four banking offices (one in Fredericksburg, two in Spotsylvania County and one in Stafford County) in the Washington-Baltimore combined metropolitan statistical area. The deal gave BB&T the top deposit share in fast-growing Fredericksburg.

Fredericksburg State Bank is a well-respected, community-oriented institution with a 78-year tradition of service. This acquisition gives us the No. 1 market share in Fredericksburg, one of the fastest growing areas of the country and part of the economically viable Washington-Baltimore CMSA.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

Century South Banks was an Alpharetta, Georgia-based bank holding company with about $1.6-1.7 billion in assets operating 40 banking offices through 12 community banks across Georgia, North Carolina, Tennessee and Alabama. The acquisition expanded BB&T's Georgia franchise in metro Atlanta and north Georgia and into adjoining states.

BB&T and Century South share remarkably similar operating philosophies and core values.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

FirstSpartan Financial Corp. was a Spartanburg, South Carolina-based thrift holding company with $591 million in assets operating 11 banking offices through its subsidiary First Federal Bank in Spartanburg and Greenville counties. The deal strengthened BB&T's position along the I-85 corridor in upstate South Carolina.

FirstSpartan is a very successful community bank with an operating philosophy and core values similar to ours.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

FCNB Corp. was a Frederick, Maryland-based bank holding company with $1.6 billion in assets operating 34 banking offices primarily in Frederick and Montgomery counties in central Maryland. The acquisition expanded BB&T into the economically strong central Maryland and metropolitan Washington, D.C. markets.

FCNB is a quality institution that will allow us to expand our presence in the economically vibrant markets of central Maryland and metropolitan Washington, D.C.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

BankFirst Corporation was a Knoxville, Tennessee-based bank holding company with $848.8 million in assets operating 32 banking offices in east Tennessee, including 26 offices in Knox, Blount and Jefferson counties and six in McMinn County. The deal established BB&T's presence in east Tennessee.

This acquisition was particularly attractive because it will allow us to expand our western North Carolina and Virginia franchises as well as our existing presence in northwest Georgia into east Tennessee.John Allison — Chairman and Chief Executive Officer, BB&T Corporation

One Valley Bancorp was a Charleston, West Virginia-based bank holding company with $6.6 billion in assets, the parent of nine community banks across West Virginia and central Virginia plus a trust division, discount brokerage and insurance operations. Its acquisition made BB&T the largest bank holding company in West Virginia.

First Banking Company of Southeast Georgia was a Statesboro, Georgia-based bank holding company with $419 million in assets operating 12 banking offices in southeast Georgia through subsidiaries including First Bulloch Bank & Trust Company, Metter Banking Company, First National Bank of Effingham and Wayne National Bank. Its branch network joined BB&T's Macon-based Georgia region.

Hardwick Holding Company was a Dalton, Georgia-based bank holding company with $518.3 million in assets operating nine banking offices in northwest Georgia through two subsidiaries, Hardwick Bank & Trust Company and First National Bank of Northwest Georgia. The acquisition strengthened BB&T's presence in northwest Georgia.

Premier Bancshares was an Atlanta, Georgia-based bank holding company with roughly $2 billion in assets (including three pending acquisitions), operating 32 banking offices across metropolitan Atlanta and North Georgia plus 10 mortgage banking offices through its Premier Lending subsidiary. BB&T acquired it in an all-stock deal that gave BB&T its third Georgia bank and the sixth-largest deposit share in metro Atlanta.

First Liberty Financial Corp., based in Macon, Georgia, was a thrift holding company with about $1.7 billion in assets operating 39 banking offices and 13 consumer-finance offices in Macon, Savannah and neighboring areas. BB&T acquired it to expand its Georgia franchise following its entry into metro Atlanta.

Matewan BancShares, Inc., of Williamson, West Virginia, operated 22 banking offices and a mortgage loan office across southern West Virginia, southwestern Virginia and eastern Kentucky through Matewan National Bank and Matewan FSB. BB&T acquired it to extend its franchise into these Appalachian markets.

This acquisition was particularly attractive because it will allow us to expand our western Virginia franchise into southern West Virginia and eastern KentuckyJohn Allison — Chairman, BB&T

Mason-Dixon Bancshares, Inc., of Westminster, Maryland, was a bank holding company operating in central Maryland. BB&T acquired it to expand its Maryland banking franchise, in a transaction valued at about $256.9 million.

First Citizens Corporation, based in Newnan, Georgia, was a bank holding company with about $421 million in assets operating 13 branches and a mortgage office in the south metro Atlanta area. BB&T acquired it as its initial entry into the Atlanta metropolitan market.

BB&T acquired Scott & Stringfellow Financial, Inc., a Richmond, Virginia-based investment banking and full-service brokerage firm. Scott & Stringfellow operated 36 full-service brokerage offices across Virginia, West Virginia, North Carolina and South Carolina and specialized in the origination, trading and distribution of fixed-income and equity securities. It also ran a public finance department serving regional tax-exempt issuers.

MainStreet Financial Corporation, based in Martinsville, Virginia, was a bank holding company with about $2 billion in assets operating roughly 46 banking offices in Virginia and three in Maryland. BB&T acquired it to substantially expand its Virginia franchise.

SunTrust acquired Richmond, Virginia-based Crestar Financial Corporation, the holding company for Crestar Bank, which operated 396 banking offices across Virginia, Maryland and the District of Columbia. The all-stock merger created the tenth-largest U.S. banking company, with roughly $88 billion in assets and more than 1,000 branches, extending SunTrust's contiguous, non-overlapping footprint into the mid-Atlantic. Crestar became a wholly owned SunTrust subsidiary operating under its own name and management.

Crestar is first class - a disciplined, well-managed bank with a reputation for quality service throughout its region. We're pleased to welcome Crestar and its people to the SunTrust family.L. Phillip Humann — Chairman, President and CEO, SunTrust Banks

Maryland Federal Bancorp, Inc. was the Hyattsville, Maryland holding company for a federal savings bank serving the Washington, D.C. suburbs. BB&T acquired it to expand into the suburban Maryland and Washington metropolitan market.

Franklin Bancorporation, Inc. was the Washington, D.C. holding company for Franklin National Bank, which operated nine banking offices in the metropolitan Washington area. BB&T acquired it to enter the District of Columbia banking market.

Life Bancorp, Inc. was the Norfolk, Virginia holding company for a thrift with roughly $1.5 billion in assets. BB&T acquired it to strengthen its presence in the Hampton Roads region of Virginia.

Virginia First Financial Corporation was a Petersburg, Virginia savings-institution holding company. Southern National (BB&T) acquired it to extend its Virginia banking presence, in a transaction the company valued at about $148.4 million.

BB&T acquired Craigie Incorporated, a Richmond, Virginia-based investment banking firm, adding a registered broker-dealer to its operations. Craigie specialized in the origination, trading and distribution of fixed-income securities and equity products in both the public and private capital markets. It also ran a public finance department providing investment banking, financial advisory services and municipal bond financing to regional tax-exempt issuers.

Fidelity Financial Bankshares Corporation was a Richmond, Virginia thrift holding company with about $321 million in assets, operating seven branches in the Richmond metropolitan area. Southern National (BB&T) acquired it to build out its banking network in central Virginia.

Southern National Corporation (which had adopted the BB&T name) acquired Regional Acceptance Corporation of Greenville, North Carolina, a consumer finance company specializing in indirect financing for purchases of mid- to late-model used automobiles. Regional Acceptance operated 28 branch offices across the Carolinas, Tennessee and Virginia and served customers with higher credit-risk profiles than the traditional bank customer.

Southern National Corporation was a North Carolina-based bank holding company that combined with BB&T Financial Corporation in a 1995 'merger of equals.' The transaction united two of the state's largest banks under the BB&T name, creating one of the Southeast's largest banking franchises with roughly $19-21 billion in assets.

In December 1986, SunTrust Banks acquired Nashville-based Third National Corporation, then the second-largest bank holding company in Tennessee. The transaction extended SunTrust's franchise into Tennessee, complementing its existing banking operations in Georgia and Florida. Third National's banking operations were folded into SunTrust's decentralized, locally focused holding-company structure.