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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 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 ...
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.
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Crestar Financial Corp. Truist Financial: 1997 U.S. Bancorp: First Bank System, Inc. U.S. Bancorp: U.S. Bancorp: 1997 NationsBank Corp. Boatmen's Bancshares: NationsBank Corp. $9.6 billion Bank of America: 1997 Washington Mutual: Great Western Financial CorporationGreat Western Bank: Washington Mutual: $6.8 billion JPMorgan Chase: 1997 First ...
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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 ...