U.S. Bancorp (NYSE: USB) reported Tuesday that the company has completed its purchase of the banking operation by BB&T Corp. (NYSE: BBT) in Nevada, according to Associated Press.
The acquisition represents about $850 million in deposits at 14 branch locations. Terms of the deal, which was announced in October, were not disclosed.
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The branches have been rebranded as U.S. Bank, the subsidiary of U.S. Bancorp. The deal includes branches in the Las Vegas-Paradise market, Reno-Sparks market and the Northern Nevada markets of Carson City, Fallon and Gardnerville Ranchos.
U.S. Bancorp operates 3,016 banking offices in 25 states. Its shares fell 26 cents to $24.36 in afternoon trading.
Shares of BB&T added 27 cents to $28.03.
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