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BB&T to Buy SunTrust in Largest Bank Deal Since the Financial Crisis

The merger of BB&T and SunTrust could be the deal that opens the spigot. Regional lenders are struggling to compete with big national banks such as JPMorgan Chase & Co. and Bank of America Corp. , which are attracting a greater share of new checking accounts from customers that are drawn to their digital offerings.

Deposit growth at many small and midsize banks has faltered, threatening a key source of funding. BB&T’s deposits were up 2% in the fourth quarter from a year earlier, while SunTrust’s were up 1%.

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