Summary
This 8-K filing by BB&T Corporation (the "Company"), dated March 11, 2019, primarily serves to incorporate by reference previously announced historical audited consolidated financial statements of SunTrust Banks, Inc. ("SunTrust") into BB&T's registration statements. This action is a crucial step in the ongoing merger process between BB&T and SunTrust, which was announced on February 7, 2019, and is expected to close in late 2019, pending regulatory and shareholder approvals. The filing includes SunTrust's audited balance sheets as of December 31, 2018 and 2017, along with its statements of income, comprehensive income, shareholders' equity, and cash flows for the three years ended December 31, 2018. The inclusion of these financials, along with the auditor's report from Ernst & Young LLP, provides investors with essential historical financial data of the target company, facilitating a more comprehensive understanding of the combined entity's future financial profile.
Key Highlights
- 1Filing provides historical audited consolidated financial statements for SunTrust Banks, Inc.
- 2These statements include balance sheets for December 31, 2018 and 2017.
- 3Income, comprehensive income, shareholders' equity, and cash flow statements for the three years ending December 31, 2018 are included.
- 4The auditor's report from Ernst & Young LLP, dated February 22, 2019, is attached.
- 5This filing supports the ongoing merger between BB&T Corporation and SunTrust Banks, Inc.
- 6The merger remains on track for a late 2019 closing, subject to approvals.
- 7The financial data is being incorporated into BB&T's registration statements.