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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.
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. $726 million Capital One Financial: 2004
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 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]
On February 7, 2019, BB&T Corporation reported that it would acquire SunTrust to create the sixth-largest US bank, with assets of $442 billion and market capitalization around $66 billion. BB&T will be the nominal survivor, but the merged bank will be headquartered in Charlotte under a new name, Truist Financial Corporation. However, Truist ...
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.
The Truist Center is a 47-story, 659 feet (201 m) skyscraper in Uptown Charlotte, North Carolina. [1] The city's third tallest building, it is located along North Tryon Street . It was opened on November 14, 2002, and was the city's second tallest building, [ 4 ] and was known as the "Hearst Tower" until 2019.
United Carolina Bank. United Carolina Bank (UCB) was a bank headquartered in Whiteville, North Carolina. It was formed in 1980 by the merger of four banks, including Waccamaw Bank of Whiteville. BB&T (now Truist Financial) acquired UCB in 1997.