Truist Merger: Important Facts You Should Absolutely Know


Share on facebook
Share on twitter
Share on linkedin

Key Facts:

  • BB&T will buy SunTrust Banks for $28.24 billion in an all-stock deal.
  • The deal was agreed to be a merger of equals, valued at $66 billion.
  • SunTrust and BB&T will become Truist.
  • The deal is expected to close in the fourth quarter of 2019/Early Q1 2020.
  • BB&T and SunTrust said the combined bank would produce annual cost savings of around $1.6 billion by 2022.
  • Truist will rival U.S. Bancorp, which has about $467 billion in assets.
  • The combined company will be the sixth-largest U.S. bank based on assets and deposits.
Updated Tactical Timeline
  • The combined company will operate under a new name and have around $442 billion in assets, $301 billion in loans and $324 billion in deposits.
  • SunTrust is known for its expertise in commercial banking /wealth management (currently based in Atlanta, GA).
  • BB&T has a solid reputation for strong branch operations (currently based in Winston-Salem, NC).

BB&T SunTrust growth comparison chart

Atlanta skyline
Atlanta, GA
Winston-Salem, NC
Winston-Salem, NC

The Truist Team will unite in at their new corporate HQ at: 214 N. Tryon St., Charlotte, NC, 28202

Map of downtown Charlotte and new Truist HQ
David Cobb

David Cobb

David Cobb, Principal & Founder at Archon Commercial Advisors specializes in connecting Tenants w/ Developers, uncovering ninja CRE deals and cultivating a network of entrepreneurial influencers — ultimately leveraging information arbitrage to uncover unique and lucrative opportunities, stimulate expansion and create wealth for our ecosystem of relationships.

Leaving Already?

Stay in touch! Enter your email to get connected with Archon.