Appears we can pretty much count on big banks, hospitals and other companies to continue the M&A (merger and acquisition) trend. Today, the news is that local bank, Susquehanna Bankshares has been eaten by BB&T.
And another bunch of big guys at the top will profit handsomely; wonder whether those who do the work in local branches will fare anywhere as well in the aftermath? We always hear the standard, news release tripe: “We anticipate no changes in personnel and staffing as we yadda – yadda – yadda.” or ” BB&T plans to continue Susquehanna’s tradition of commitment and service to its communities by creating a $10 million economic development fund to ensure ongoing support of the Lancaster, Pennsylvania community.”
“However, time and again, executives face major stumbling blocks after the deal is consummated. Cultural clashes and turf wars can prevent post-integration plans from being properly executed.”
Susquehanna Bank has a branch in downtown Columbia, and “Susquehanna is excited to announce that we plan to join the BB&T family.“