To: richardred who wrote (2999 ) 11/12/2014 12:39:55 PM From: richardred Respond to of 7242 BB&T Acquiers Susquehanna: Will More Deals Follow? By Johanna BennettIn the aftermath of BB&T ’s ( BBT ) $2.5 billion acquisition of Susquehanna Bankshares ( SUSQ ) are more bank deals on the horizon? BB&T CEO Kelly King believes so. He told CNBC this morning that he sees more consolidation ahead for the industry, citing the rising costs of new technology and the burden of complying with heightened regulations. King isn’t alone in that thought. Sterne Agee analysts Matthew Kelley and Matthew Breese noted earlier today that “this is only the third bank deal where the seller had over $10B in assets in the last three years and could open the door for larger bank acquisitions nationally.” The cash and stock deal, which is slated to close in the second half of 2015, will pay Susquehanna shareholders about $13.75 a share, representing a nearly 39% premium to Susquehanna’s last close. According to Evercore ISI , this is the second-largest bank deal in more than two years. The move will grow BB&T’s footprint in the mid-Atlantic region. The bank is already one of the largest lenders in the southeastern U.S., with $187 billion in assets and 1,842 financial centers in 12 states and Washington, D.C. Susquehanna has about $18.6 billion in assets and 245 banking offices in Pennsylvania, Maryland, New Jersey and West Virginia. BB&T’s says the deal is accretive to its earnings in the first full year, with about $250 million in integration costs resulting from the deal, as well as $160 million in annual cost savings. In morning trading, Susquehanna shares jumped 32.4% to $13.11, while BB&T fell 2.48% to $37.38.blogs.barrons.com