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BB&T profit falls on merger costs

BB&T Corp. said its profit slipped in the latest quarter, as merger-related costs offset loan growth and deposit growth.

Despite the earnings dip, the lender managed to lift a key measure of lending profitability for the previous quarter.

The Winston-Salem, N.C.-based bank, one of the Southeast's largest lenders, earned $533 million in the third quarter, down from $553 million a year earlier. On a per-share basis, profit fell to 64 cents from 70 cents.

Revenue increased 6.6% to $2.49 billion. Analysts projected 70 cents in earnings per share and $2.49 billion in revenue.

In August, BB&T completed its acquisition of Susquehanna Bancshares. That deal added about $150 million in revenue...


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