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Wednesday, September 3, 2014

BB&T to purchase 41 branches in Texas from Citi, (NYSE: C)

BB&T Corp agreed to purchase 41 branches in Texas from Citigroup Inc, adding to the 21 it had acquired last December in the state from Citi. The acquisition includes retail branches in the Dallas, Houston, Midland and Odessa markets, with $2.3 billion in deposits and $87 million in loans, BB&T said in a statement.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C remained unchanged at $51.96. In the past year, the shares have traded as low as $45.18 and as high as $55.28. On average, 15920400 shares of C exchange hands on a given day and today's volume is recorded at 102162.