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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.
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 ...
In 2019, regulators approved the merger of BB&T and SunTrust, creating a new institution to be called Truist. [6] King remains CEO and chairman of Truist. [ 7 ] In October 2019, the Triad Business Journal named him one of the year's "Power Players" in business.
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 ...
BB&T Corporation (previously known as the Branch Banking and Trust Company) was one of the largest banking and financial services firms in the United States, based in Winston-Salem, North Carolina. In 2019, BB&T announced its intentions to merge with Atlanta -based SunTrust Banks to form Truist Financial, which retains BB&T's stock price ...
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.
In 2011, Susquehanna Bank announced its purchase of Abington Bank. [8] In 2014, BB&T (now Truist Financial), announced the acquisition of Susquehanna Bank. [9] The deal was finalized on August 3, 2015, and all Susquehanna Bank branches, as well as the Entertainment Center in Camden, were converted to BB&T four months later. [10] [11]
The building later became the downtown Tampa headquarters of Colonial Bank, now BB&T. As part of BB&T's merger with SunTrust to become Truist, BB&T closed their offices in Park Tower in January 2021. [5] The company consolidated their footprint into the nearby Truist Place. [6]