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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.
HSBC Bank USA: HSBC Bank USA: 2003 BB&T: 1st Virginia Banks, Inc. BB&T: Truist Financial: 2003 M&T Bank: Allfirst Bank: M&T Bank: M&T Bank: 2004 New Haven Savings Bank Savings Bank of Manchester, Tolland Bank NewAlliance Bank: NewAlliance Bank: 2004 North Fork Bancorporation Inc. The Trust Company of New Jersey North Fork Bancorporation Inc ...
As of January, Charlotte, North Carolina-based Truist was the sixth largest bank in the U.S., with $488 billion in assets. It was formed in 2019 as a merger between BB&T and SunTrust banks.
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 .
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BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson. [5]
The U.S. Federal Reserve said on Thursday it will hold two public hearings related to BB&T Corp's proposal to acquire SunTrust Banks Inc . The regulator will also extend the public comment period ...