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BB&T, SunTrust Banks In Merger Talks

BB&T Corp. (BBT) and SunTrust Banks Inc. (STI) jointly said Thursday that their chief executive officers are discussing a merger of equals.

Kelly King, chief executive officer of BB&T, and William Rogers, chief executive officer of SunTrust, spoke at a joint public meeting of the Federal Reserve Board and the Federal Deposit Insurance Corporation on the proposed merger.

The companies said they would be investing an incremental $100 million annually into innovation and technology to create a digital client experience.

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