By Allison Prang

The Federal Deposit Insurance Corporation on Tuesday approved the merger of BB&T Corp. (BBT) and SunTrust Banks Inc. (STI).

The FDIC said its approval of the deal is dependent on the combined bank--which will be called Truist--divesting 30 branches and $2.4 billion in deposits.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

November 19, 2019 16:25 ET (21:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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