Quick Answer: What Is Truist Bank?

What does Truist bank mean?

Truist.

That’s the new name for the combined banks SunTrust and BB&T, which are in the process of a “merger of equals.” The two banks will operate as Truist Financial, the companies announced Wednesday, with a new headquarters in Charlotte, North Carolina.

The name is intended to give the bank a single, fresh identity..

How big will Truist bank be?

The deal, announced in February and valued at $66 billion, creates Truist Financial Corp., which will be the sixth-largest bank in the U.S. serving more than 10 million U.S. households and will have more than $425 billion in assets, according to a news release.

Is Truist stock a buy?

Truist Financial has received a consensus rating of Buy. The company’s average rating score is 2.60, and is based on 12 buy ratings, 8 hold ratings, and no sell ratings.

Is SunTrust going out of business?

The SunTrust and BB&T merger is not expected to close until later in 2019, and the two banks will remain operating as two separate companies, they say. … “Once that happens, we will continue to serve clients through the legacy BB&T and SunTrust brands for some time until the two companies’ systems are merged.”

Is Truist a good bank?

BB&T and SunTrust are currently in the process of merging together to form a new financial company called Truist Bank. Once the merger is complete, Truist will be the 6th-largest U.S. bank, representing approximately 10 million households and $324 billion in deposits….Truist Bank Review.Truist Bank DetailsPromotionsNone4 more rows•Apr 20, 2020

Where did Truist come from?

Unsourced material may be challenged and removed. Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.

Which bank is bigger BB&T or SunTrust?

Merged SunTrust/BB&T bank ranked eighth largest in U.S. There’s a new ranking of the nation’s largest banks, and it lists the combined SunTrust/BB&T entity at No. 8.

Is SunTrust Bank real?

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. The bank’s most direct corporate parent was established in 1891 in Atlanta, where it was headquartered.

Is BB&T now Truist?

Branch Banking and Trust Company is now Truist Bank. Learn more. BB&T and SunTrust have merged to become Truist.

Did Truist buy SunTrust?

9, 2019 /PRNewswire/ — Truist Financial Corporation (NYSE: TFC) today announced the completion of the merger of equals between BB&T Corporation and SunTrust Banks, Inc., effective Dec. 6, 2019. … The transition to the full Truist experience will occur as systems are integrated over the next two years.

The monogram logo of Truist has two “T”s enclosed in a square. It represents the two “T”s in the name as well as harking back to the “T”s that were part of BB&T and SunTrust names. The two “T”s also symbolize “touch” and “tech” to highlight the bank’s vision.

Is Truist a real word?

SunTrust and BB&T officials reveal the new name. What is Truist? It isn’t the name of an artificial sweetener or a misspelled word in Shakespearean English, as some on the internet have posited. It’s the new name of the nation’s sixth-largest retail bank.

What does Truist mean?

The banks, which will go by Truist Bank at retail, said the brand is pronounced “TRUE-ist.” According to the Free Dictionary.com, Truist is defined as “unselfish concern for the welfare of others; selflessness.”

How did Truist get its name?

SunTrust (STI) and BB&T (BBT), two of America’s biggest banks, unveiled Truist on Wednesday as the new brand name for their soon-to-be merged company. … The banks said they came up with Truist after a “rigorous, data-driven” process run by consulting firm Interbrand that prioritized input from employees and clients.

What is the new name of SunTrust?

Truist Financial Corp.BB&T Corp. and SunTrust Banks Inc. said Wednesday they will adopt the name Truist Financial Corp. when they close their merger, the biggest bank deal since the financial crisis. The companies announced in February they would combine in a deal that has been valued at $28.2 billion.