Last year, CEO Darryl White said his goal was for U.S. operations to account for one-third of the bank's earnings in three to five years. It was a matter of months before the goal was reached.
Shareholders of both companies will meet separately next month to cast ballots on the $28 billion deal, and BB&T investors will also decide whether the new company should be called Truist Financial.
A Wisconsin credit union's agreement to acquire a small Chicago bank, the eighth credit union-bank deal this year, led bankers to once again call for policymakers to slow the trend. A credit union trade group complained that banks are trying to stifle competition.
Winston-Salem-based Truliant Federal Credit Union has filed a suit in federal court claiming that BB&T and SunTrust banks’ post-merger brand represents trademark infringement and unfair competition.
Deal values this year have been smaller than last year despite the hubbub over BB&T-SunTrust. Prosperity's agreement to buy LegacyTexas raises the possibility that the size of bank deals could start climbing.
The bank is looking to combine several units that invest in income-producing assets; increased scrutiny has led banks to address the risks of climate change.
"Truist" was roundly mocked when it was unveiled as the name of the merging BB&T and SunTrust, but it’s hardly the first bank moniker to elicit a "huh?" from critics.
Readers respond to BB&T-SunTrust's rebranding, consider the future of home equity loans, debate the number of credit unions buying up community banks and more.
Lynn Harton, the Georgia bank's CEO and a 20-year BB&T veteran, is considering acquisitions in Alabama, Florida and Tennessee markets where the entity soon to be named Truist Financial has a high profile.
