Published on November 19th, 2019 | by Chuck69
BB&T Bank Merges with Suntrust to Create Sixth-Largest Bank in US [Name: Truist Bank]
Update 11/19/19: This has now been approved. Federal regulators required BB&T and SunTrust to sell 30 branches and divest itself of $2.4 billion in assets on condition of the merger.
Update 6/12/19: the new name of the combined bank will be Truist Bank. It’s pronounced TRUE-ist. 🤔]
The big financial news today is that BB&T is buying Suntrust, in a deal expected to close before the end of 2019, and the largest such deal in over a decade. The combined company will operate under an entirely new name to create the sixth largest U.S. bank by assets.
Currently, most of us don’t deal on a regular basis with either of these companies from the credit card end, though there are a couple of credit card offers from the banks we’ve posted about. It’ll be interesting to see if the combined bank gets more competitive in that space.
The other angle is the bank bonus end. Those in their target area have had some bank bonus offer sent their way from BB&T and Suntrust . Hopefully, that will continue, and perhaps become available nationwide.