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.
"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.
Hard sell ahead for BB&T-SunTrust as ‘Truist’ lands with a thud; Citizens looks to poach BB&T-SunTrust talent; what the Senate AML bill means for banks; and more from this week’s most-read stories.
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.
The Rhode Island company is counting on disruption from the megamerger to accelerate its Southeast expansion, according to commercial banking chief Don McCree. But BB&T’s Kelly King has a message for him: Not so fast.
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.
