Fresh Ink

US Banker, March, 2003

1. BB&T is still on a spending spree. The Winston-Salem, NC-based banking organization plans to buy First Virginia Banks. BB&T will shell out $3.38 billion in an all-stock swap deal to acquire the Falls Church, VA-based bank. The deal would increase BB&T's assets to $91 billion.

2. New York's JP Morgan Chase isn't pulling out of Brazil completely, but it has started slimming its operation in that region by selling its $7 billion-asset JP Morgan Fleming Asset Management to the local Banco Bradesco. The bank did not reveal the price of the transaction.

3. SunTrust is heading into Hilton Head after signing a deal to buy the $577 million-asset Lighthouse Financial Services for $130 million in cash and stock. The deal will give SunTrust control of Lighthouse Community...

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