M&A Deal Summary

Truist Acquires Franklin Bancorporation

On July 2, 1998, Truist acquired financial services company Franklin Bancorporation for 170M USD

Acquisition Highlights
  • This is Truist’s 6th transaction in the Financial Services sector.
  • This is Truist’s 23rd largest (disclosed) transaction.
  • This is Truist’s 7th transaction in the United States.
  • This is Truist’s 1st transaction in District of Columbia.

M&A Deal Summary
Date 1998-07-02
Target Franklin Bancorporation
Sector Financial Services
Buyer(s) Truist
Deal Type Add-on Acquisition
Deal Value 170M USD

Target

Franklin Bancorporation

Washington, District of Columbia, United States
Franklin Bancorporation, Inc. is a provider of financial services.

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Buyer(S) 1

Buyer

Truist

Charlotte, North Carolina, United States
Category Company
Founded 1872
Sector Financial Services
Employees49,218
Revenue 23.4B USD (2023)
DESCRIPTION
BB&T's corporate headquarters in Winston-Salem, North Carolina.
BB&T's corporate headquarters in Winston-Salem, North Carolina.

Truist is a financial services company. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist was founded in 1872 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 7 of 50
Sector (Financial Services) 6 of 42
Type (Add-on Acquisition) 7 of 45
State (District of Columbia) 1 of 1
Country (United States) 7 of 50
Year (1998) 5 of 6
Size (of disclosed) 23 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-07-01 W.E. Stanley

Greensboro, North Carolina, United States

W.E. Stanley & Co., Inc. is an actuarial and employee benefits consulting firm. W.E. Stanley’s specialties included the design and administration of pension plans; defined contribution plans.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-08-27 MainStreet Financial

Martinsville, Virginia, United States

MainStreet Financial Corp. is a financial services company.

Buy $554M
Mergr

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