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SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018. [2] The bank's most direct corporate parent was established in 1891 in Atlanta , where it was headquartered.
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.
On December 16, CCB announced 293 of approximately 600 jobs would be cut at the Durham operations center once accounts were merged in April 2005, at which time SunTrust signs would replace CCB. The jobs would be moved to SunTrust facilities in Orlando, Knoxville and other locations. At the same time, 40 jobs were being added in Durham.
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.
On June 12, BB&T and SunTrust announced that the merged company would be called Truist Financial Corporation. [11] This name resulted from research that included hiring Interbrand, seeking opinions of employees of both banks, and focus groups. [12] The new name drew criticism from analysts and customers of both banks on social media.
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