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Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. [7] The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.
SunTrust had been the last major bank headquartered in Atlanta, which had been the South's financial capital for much of the 20th century. The merger closed on December 6, 2019. On that day, SunTrust Bank merged into BB&T's banking unit, Branch Banking and Trust Company, forming Truist Bank as the merged company's legal banking entity.
CIBC Bank USA: 2019 BB&T: SunTrust Banks: Truist Financial: $66 billion Truist Financial: ... Steven J. Pilloff, "Bank Merger Activity in the United States, 1994 ...
Truist is the bank formed by the merger of BB&T and SunTrust. Truist provides financial services to about 12 million consumer households, as of 2020. ... BB&T and SunTrust, which were ranked the ...
The merger will pressure other regional banks to consider their own deals, analysts said. U.S. regional lender BB&T Corp said it will buy rival SunTrust Banks Inc for about $28 billion in stock ...
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Due to delays related to the COVID-19 pandemic, Truist announced in April 2021 that core conversion to combine the branches would be performed in early 2022. [19] However, on the day the merger closed, SunTrust Bank merged into Branch Banking & Trust Company, forming Truist Bank as the merged company's legal banking entity.
Date. Acquiring bank. Acquired bank. Purchase price. Sept. 30, 1998. Bank of America. NationsBank. $62 billion. July 1, 2004. J.P. Morgan Chase. Bank One. $58 billion