BB&T, Suntrust merger looks to benefit Charlotte, what about you?

February 7, 2019

by Bria Bell


CHARLOTTE, NC (WBTV) – Many of you woke up to the news of the BB&T and Suntrust merger and the decision to headquarter in Charlotte. The two companies have not said what the name of the new bank will be.

The $66-billion dollar all-stock deal will make the company the sixth largest bank based in the U.S. If you don’t bank with BB&T or Suntrust and aren’t a stockholder – why does this matter to you?

Charlotte has been at the top when it comes to banking in this country. We sit right behind New York who is number one and this merger makes us even stronger.

“No doubt that this puts Charlotte squarely on the map in terms of its visibility and recognition,” said John Gugle of Alpha Financial. He also says the new headquarters will bring a lot of jobs that will pay well.

“They need people and if you need people with banking skills, Charlotte is your place,” Gugle said.

He also believes more people are going to want to move to the Queen City and that we may see a raise in our property taxes. This means a boom for the economy.

“It’s very good news, it’s great news.”

We could even see a new addition to the beautiful skyline. That hasn’t been confirmed yet, but banking headquarters tend to do business in skyscrapers, just like the Bank of America building.

WBTV’s Bria Bell reached out to city leaders to see if there are other benefits, but they have not responded yet.

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