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.
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.
Judging by day one on social media, you’d think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name.
Highland Associates has $26 billion in assets under management on behalf of not-for-profit medical endowments and foundations. Regions Financial is following the lead of other regionals, which have been scooping up investment firms that specialize in health care.
The regional bank has begun closing branches in Chicagoland as part of a plan to reduce its net number of brick-and-mortar offices by up to 15% even as it looks to expand in the Southeast.
If four BB&T executives, including the CFO and COO, remain through the closing of its merger with SunTrust, they'll receive multimillion-dollar payouts.
The merging banks, whose new headquarters would be Charlotte, N.C., will each double their charitable giving over the next three years in Atlanta and Winston-Salem, N.C.
Regional and small banks are striking digital partnerships and launching new savings offerings as they attempt to steal away business from bigger institutions.
