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Article: BB&T buys Bradley County, Tenn.-based bank.
- Article from:
- Chattanooga Times/Free Press (Chattanooga, TN)
- Article date:
- January 13, 2006
CopyrightCOPYRIGHT 2006 Chattanooga Times/Free Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Dave Flessner
Jan. 13--One of the nation's biggest banks agreed Thursday to acquire Bradley County's biggest bank.
BB&T Corp., said it will pay $142.6 million in stock or cash to buy First Citizens Bancorp, which operates 19 bank offices in East Tennessee and North Georgia. The purchase was announced six years after the North Carolina-based BB&T entered the Tennessee and North Georgia markets through separate acquisitions of the former BankFirst in Knoxville and Hardwick Holding in Dalton, Ga.
"This merger accelerates our long-term earnings growth potential by expanding our Tennessee market," BB&T Chairman John Allison said in his ...