What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing is to provide an update on the expected closing date of the merger between National Penn Bancshares, Inc. and BB&T Corporation (now Truist Financial Corp), and to announce important deadlines for National Penn shareholders regarding their merger consideration elections.

When is the merger between National Penn and BB&T expected to close?

The merger is now expected to close on or about April 1, 2016.

What action do National Penn shareholders need to take?

Holders of National Penn common stock and certain National Penn equity awards need to elect the form of consideration (cash or stock) they wish to receive in the merger. The deadline for making this election is March 30, 2016, at 5:00 p.m. Eastern Daylight Time, unless extended. Election materials will be mailed around February 29, 2016.

Is there any information about the terms of the merger consideration?

This filing does not detail the specific terms or exchange ratios of the merger consideration. It only informs shareholders about the deadline and process for electing their preferred form of consideration, subject to allocation and proration procedures outlined in the original merger agreement.

TRUIST FINANCIAL CORP 8-K SEC Disclosure

Summary

This 8-K filing from Truist Financial Corp (TFC), then operating as BB&T Corporation, provides an update on the previously announced merger with National Penn Bancshares, Inc. The key takeaway for investors is the expected closing date of the merger, now anticipated around April 1, 2016. This revised timeline is crucial for understanding the integration progress and potential synergies. The filing also sets important dates for National Penn shareholders, including the election deadline for the form of merger consideration and the mailing date for election materials. Investors holding National Penn common stock or equity awards should pay close attention to these dates. The election deadline of March 30, 2016, is critical for shareholders to decide on their preferred form of consideration (likely cash or stock, subject to proration). The mailing of election materials around February 29, 2016, provides ample time for shareholders to review and make their decisions. This filing primarily serves as a procedural update, signaling continued progress towards the consummation of the merger.

Key Highlights

1The merger between National Penn Bancshares, Inc. and BB&T Corporation (now Truist Financial Corp) is expected to close on or about April 1, 2016.
2The election deadline for National Penn security holders to choose their form of merger consideration is March 30, 2016, subject to proration.
3Election materials for National Penn shareholders will be mailed beginning on or about February 29, 2016.
4The filing clarifies a previously incorrect telephone number for Georgeson Inc., the entity handling election inquiries.
5This report is an update to the previously announced merger agreement dated August 17, 2015.
6The filing is classified under 'Other Events' (Item 8.01).

TRUIST FINANCIAL CORP 8-K Report, Corporate Update (Jan 21, 2016)

Summary

Key Highlights

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