By  Updated on Thu Dec 19, 2013

BB&T to Buy 21 Citibank Branches in Texas

This week, BB&T announced an agreement with Citibank to buy 21 Texas branches for $36 million. The sale of the branches represents a shift of $1.2 billion in deposits between the 21 branches.

“This acquisition is a compelling strategic expansion in Texas, where the BB&T brand and approach to client service have been very well received,” said Kelly King, CEO and chairman of BB&T, in a prepared statement.

The sale is slated to close in the second quarter of 2014.

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