Wednesday, January 18, 2012

BB&T in the running for second-largest Florida bank

UPDATE: BankUnited now says it will stay independent, no longer seeking a buyer, Bloomberg reports.

BB&T has submitted a bid for Florida's second-largest bank, according to reports by The Wall Street Journal and Bloomberg.

BankUnited, based in Miami Lakes, has $11 billion in assets. It hasn't publicly said it is seeking a buyer, but sources told the two media outlets that it has sought bids.

Toronto-Dominion Bank has also submitted a bid, the Wall Street Journal stated. Pittsburgh-based PNC Financial Services Group considered a bid, but decided not to submit one.

BB&T, based in Winston-Salem, has been aggressively growing market share in Florida. In November, it announced an agreement to purchase Ft. Lauderdale-based BankAtlantic, taking on $2.1 billion in loans and $3.3 billion in deposits.


Anonymous said...

"BB&T" and "highest bidder" in the same sentence is hard to find.