Summary
This 8-K/A filing from TRUIST FINANCIAL CORP (TFC), filed on July 26, 2001, serves as an amendment related to the merger between BB&T Corporation and Century South Banks, Inc. The primary purpose of this filing is to include BB&T's restated audited financial statements and related notes, incorporating the accounts of Century South. This restatement is necessary because the merger, which closed on June 7, 2001, was accounted for using the pooling of interests method. For investors, the key takeaway is the consolidation of Century South's financial performance into BB&T's historical results. The exchange ratio for the merger was 0.93 shares of BB&T common stock for each share of Century South common stock, resulting in the issuance of 12.7 million BB&T shares. The filing provides the necessary financial data to assess the combined entity's historical financial position and performance prior to the effective date of the merger. Investors should review the included restated financial statements to understand the full impact of this significant acquisition.
Key Highlights
- 1Amendment to a prior 8-K filing concerning BB&T Corporation's merger with Century South Banks, Inc.
- 2Merger completed on June 7, 2001, with Century South shareholders receiving 0.93 shares of BB&T common stock per share.
- 312.7 million shares of BB&T common stock were issued to consummate the merger.
- 4The transaction was accounted for using the pooling of interests method.
- 5The filing includes BB&T's restated audited financial statements, incorporating Century South's accounts, for the years ended December 31, 2000, 1999, and 1998.
- 6Key exhibits include the computation of earnings per share, consent of independent public accountants, and BB&T's restated financial statements.