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BB&T receives approval for Bank of Kentucky acquisition

BB&T has received regulatory approval from the Federal Reserve, the FDIC and all required state regulators to acquire The Bank of Kentucky.

The transaction closing and systems conversion is expected on June 19, 2015.

"We are very pleased to receive this approval and are excited about the opportunities in this market," said Chairman and Chief Executive Officer Kelly S. King.

"We look forward to working with our new associates to continue providing the high quality service that clients receive in Northern Kentucky and Cincinnati."

Headquartered in Crestview Hills, Ky., The Bank of Kentucky has 32 banking offices in Northern Kentucky and Cincinnati. The merger includes $1.6 billion in deposits, $1.3 billion in loans, and total assets of $1.9 billion based on March 31, 2015, balances. The planned acquisition was originally announced Sept. 8, 2014.