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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 .
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.
The Charlotte-based bank detailed the moves at an investors conference on Monday.
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 .
In December 2019, Charlotte-based Truist was created through a merger of equals between SunTrust and Winston-Salem-based BB&T. Truist is currently the sixth largest U.S. bank, and the merger was the biggest bank deal since the 2007–2008 financial crisis. Rogers became president and chief operating officer of Truist after the merger, and he ...
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 2020, Truist Financial acknowledged and apologized for the company's historic connections to slavery. Kelly King, chairman and chief executive of Truist, issued an employee memo addressing BB&T's slavery ties, but did not mention BB&T's founders Alpheus Branch and Thomas Hadley by name.