north carolina

The Federal Reserve and Federal Deposit Insurance Corp. will hold two public meetings on BB&T's planned purchase of SunTrust to consider the deal's impact on the U.S. banking system

The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.

It took less than six months to hammer out the biggest bank merger in more than a decade, and the price was one of the last things discussed, according to a new federal filing.

Now the organizers of American Bank & Trust must raise $20 million to open the state's first new bank since the financial crisis.

The industry's largest acquisition in more than a decade will create the sixth-biggest bank in the country, with assets of more than $442 billion.