By Allison Prang

Shareholders of BB&T Corp. (BBT) and SunTrust Banks Inc. (STI) approved the companies' plans to merge.

SunTrust said Tuesday that 99% of its shares voted were in favor of the deal. BB&T said over 98% of shares voted were in favor.

BB&T and SunTrust are expecting the deal to close either late this quarter or next quarter, they said.

The regional banking companies announced the stock deal in February. The companies' merger is supposed to be the largest bank deal since the financial crisis. It was valued at $28.2 billion when it was announced.

BB&T said over 96% of its shares voted were in favor of the name for the combined company, Truist.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

July 30, 2019 12:47 ET (16:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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