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Truist intended to close 800 branches by the first quarter of 2022, and office consolidation would reduce space by 4.8 million square feet. [4] On September 5, 2021, former SunTrust Banks' CEO Bill Rogers became chief executive officer of Truist Financial Corporation. Truist said it had completed changing signs on branches February 22, 2022.
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. However, the merged bank will continue to operate under the BB&T and SunTrust names until the two banks' systems are combined, a process that could take up to two years.
Truist was formed in December 2019, as the result of a “merger of equals" between SunTrust Bank (of which LightStream was a division) and BB&T. [ 2 ] Debuting in March 2013, LightStream is a financial services technology company that provides unsecured , personal loans to people with good credit rating , through a digital process.
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In March 2022, the bank closed five Charlotte-area branches because of overlap following the BB&T and SunTrust merger that formed Truist in 2019. In total, Truist planned to close 800 branches .
Truist and Wells Fargo directed questions to The Clearing House, an operator of networks that clears and settles $2 trillion each day through wire, ACH check image and real-time payments.
Truist unveiled its logo in January 2020, with two Ts representing touch and technology, and a shade of purple combining the blue of SunTrust and the burgundy of BB&T. [23] In November 2020, the bank used helicopters to lift up four signs to the top of the former Hearst Tower. The "Truist" wordmark appears on the North Tryon Street and North ...