BB&T (Branch Banking and Trust Company) is now known as Truist Financial Corporation. This change occurred following its merger with SunTrust Banks.
The Formation of Truist Financial
BB&T, a significant financial institution formerly headquartered at the BB&T Financial Center in Winston-Salem, North Carolina, underwent a transformative merger. In 2019, BB&T and SunTrust Banks announced their intention to merge, a strategic move that ultimately led to the creation of Truist Financial.
The goal of this merger was to combine the strengths and resources of both banks to establish a new, robust financial services entity. Prior to the merger, BB&T maintained an extensive operational footprint, including approximately 2,781 branches. The combined operations of BB&T and SunTrust now function under the unified Truist brand, serving a wide base of customers across various financial needs.
Key Details of the Transition
The table below summarizes the key aspects of BB&T's transition into Truist Financial:
| Aspect | Description |
|---|---|
| Former Name | BB&T (Branch Banking and Trust Company) |
| Merged With | SunTrust Banks |
| Current Name | Truist Financial |
| Former Headquarters | BB&T Financial Center, Winston-Salem, North Carolina |
| Pre-Merger Branches | Approximately 2,781 branches (under BB&T's operations) |
| Successor Entity | Truist Financial is the successor to both BB&T and SunTrust Banks. |
This merger marked a significant event in the U.S. banking industry, establishing Truist Financial as a major player.
