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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.
In February 2019, SunTrust Banks announced its pending purchase by BB&T for $28 billion in an all-stock deal, creating the sixth largest U.S. lender, being the biggest bank deal since the 2007-2008 financial crisis. [6] On December 6, 2019, the merger between BB&T and SunTrust closed, forming Truist Financial Corporation. [7]
William H. Rogers Jr. (born 1957/58) is an American businessman, who is the chairman and chief executive officer of Truist Financial Corporation . Prior to that he was chairman and chief executive officer of Atlanta-based SunTrust Banks, Inc. 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 ...
Truist Financial's (TFC) subsidiary, Truist Insurance, has entered an agreement to acquire Kensington Vanguard. The transaction is expected to expand its business in title insurance.
7. Truist Financial Truist is the bank formed by the merger of BB&T and SunTrust. Truist provides financial services to about 12 million consumer households, as of 2020.
The following table lists the 100 largest bank holding companies in the United States ranked by total assets of December 31, 2023 per the Federal Financial Institutions Examination Council; their market capitalization is also shown.
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 history and operates under BB&T's charter.
On December 11, 2019, Truist Financial announced it had officially exercised its option to purchase the building from Cousins Properties for $455.5 million and would rename the tower Truist Center.
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