SunTrust and BB&T are merging – here’s what customers need to know
By Jacob Passy

Large regional banks SunTrust and BB&T announced Thursday that they plan to combine in a roughly $66 billion all-stock merger, which is easily the largest bank merger since the 2008 financial crisis. The merged entity will become the sixth largest bank in the U.S. with around $442 billion in assets, $301 billion in loans and $324 billion in deposits. …Moreover, consolidating resources can make it easier to develop improved mobile and online banking capabilities, said Karen Petrou, managing director of Federal Financial Analytics, a Washington, D.C.-based consulting firm. …“If banks don’t come up with ways to innovate, they die,” Petrou said. “Then consumers are left to do their banking with nonbanks. The migration of banking services to unregulated companies poses a lot of risks.”