• Charlotte's affordable-housing campaign gets $30M boost from BB&T, SunTrust

    By: Erik Spanberg, Charlotte Business Journal

    Updated:

    CHARLOTTE, N.C. - Adding soon-to-be merged banks BB&T and SunTrust to the roster of corporate contributors in Charlotte’s affordable housing campaign on Tuesday pushed the combined total of public and private donations past $200 million in the past year. Michael Marsicano, head of the Foundation For The Carolinas, with help from executives representing the two banks, disclosed the updated figures as part of an annual meeting and luncheon at the convention center.

    ['We really will be fantastic': BB&T, SunTrust plan merger; headquarters to be in Charlotte]

    Or, as Marsicano put it, sharing good news with 1,720 of his closest friends seemed like a good way to spend a day.

    BB&T and SunTrust committed $15 million apiece and, like previous corporate donors, split their gifts into several buckets, including $5 million each to the private investment fund led by the foundation. That combined $10 million increased the fund’s total to $31 million, or 60% of the $50 million target set by Marsicano to match $50 million in affordable housing bonds approved by voters in November.

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