BB&T
A major U.S. regional bank that merged with SunTrust in 2019 to create Truist Financial.
Last updated August 31, 2026
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Overview
BB&T, short for Branch Banking and Trust Company, was a United States banking and financial-services brand headquartered in Winston-Salem, North Carolina. Its origins date to 1872, when Alpheus Branch and Thomas Jefferson Hadley established Branch and Hadley in Wilson, North Carolina, initially serving local farmers and merchants. Through ownership changes, charter reorganizations, acquisitions, and name changes, the institution developed into one of the larger regional banking organizations in the United States. The bank broadened beyond conventional deposits and commercial lending during the twentieth century. It added insurance services in 1922 and a mortgage division in 1923, while also participating in the sale of Liberty Bonds during World War I. BB&T survived the banking failures that followed the 1929 stock-market crash and was reportedly the only bank in Wilson to remain open. Over later decades it expanded through organic growth and acquisitions, building businesses in retail banking, commercial banking, wealth management, mortgage finance, insurance, and related financial services. A major turning point came in 1995, when Southern National Bank merged with BB&T. Although the holding company initially retained the Southern National name, BB&T became the group-wide identity from 1997 onward. The organization continued to grow as a regional financial-services company, with a substantial presence across the American Southeast and adjacent markets. John A. Allison IV served as chief executive until 2008, after which Kelly S. King became a central leader of the company. On February 7, 2019, BB&T and Atlanta-based SunTrust Banks announced a merger of equals. The transaction was described as one of the largest U.S. bank combinations since the 2008 financial crisis and was intended to create the country's eighth-largest bank at announcement. The companies selected Truist Financial Corporation as the name of the combined organization in June 2019. The legal merger was completed on December 6, 2019, and Kelly King became chief executive of Truist. BB&T and SunTrust identities continued temporarily while the new company integrated their technology, branches, and operations. The BB&T brand was subsequently retired in favor of Truist. The combined company retained significant operations in Winston-Salem while establishing its corporate headquarters in Charlotte, North Carolina. Truist later consolidated systems and rebranded physical locations, with the COVID-19 pandemic contributing to delays in the conversion timetable. BB&T therefore exists primarily as a historical banking brand and as part of the corporate and legal heritage of Truist Financial and Truist Bank.
History
BB&T began in 1872 in Wilson, North Carolina, as Branch and Hadley, a merchant bank founded by Alpheus Branch and Thomas Jefferson Hadley. The business served a local agricultural and commercial economy. Branch acquired Hadley's interest in 1887 and renamed the institution Branch and Company, Bankers. In the same year it moved to premises on Nash Street in downtown Wilson. In 1889 Branch, Hadley, Joshua Barnes, and other associates obtained a charter for Wilson Banking and Trust Company. Subsequent name changes eventually produced Branch Banking and Trust Company, the formal name behind the BB&T abbreviation. Alpheus Branch remained active until his death in 1893. The institution's early physical and civic legacy includes the 1903 Branch Banking and Trust Company Building in Wilson, which was later listed on the National Register of Historic Places. During World War I, BB&T sold Liberty Bonds. By 1922 it had added an insurance business, and in 1923 it established a mortgage division. These moves foreshadowed the broader financial-services model that later became central to the organization. BB&T survived the banking distress associated with the 1929 stock-market crash and the subsequent failures of banks across the United States. It was identified as the only bank in Wilson to survive that period. During the twentieth century, the company expanded from its eastern North Carolina base into a wider regional institution. Its activities came to include consumer deposits and loans, commercial banking, mortgage finance, insurance, wealth management, and other financial services. The 1995 merger with Southern National Bank was an important consolidation event. The holding company initially used the Southern National name, but the BB&T identity replaced Southern National across the organization in 1997. The company continued its expansion under the BB&T brand, becoming a major regional bank in the Southeast and a recognizable provider of banking and insurance services. John A. Allison IV was chief executive until 2008; Kelly S. King subsequently led the company and later became the chief executive of the combined Truist organization. On February 7, 2019, BB&T and SunTrust Banks announced a merger of equals. The proposed combination was presented as the largest U.S. bank deal since the financial crisis and was expected to produce the country's eighth-largest bank at the time of announcement. The companies announced the Truist name on June 12, 2019, following brand research, employee input, and focus groups. The naming decision generated criticism from some customers, analysts, and observers. A trademark case brought by Truliant Federal Credit Union was later dismissed by agreement. The merger closed at midnight on December 6, 2019. The legal banking entity was formed through the merger of SunTrust Bank into Branch Banking & Trust Company, while the holding company became Truist Financial Corporation. BB&T chief executive Kelly King continued as leader of the combined company. Customers were given access to the combined institution's ATMs without fees, and both legacy brands continued temporarily during the technology and operating integration. In 2020 and 2021, Truist worked through the practical consequences of the merger. Its headquarters moved toward Charlotte, while Winston-Salem retained important community-banking and operational functions. The former Hearst Tower in Charlotte was acquired and renamed Truist Center. Signage and rebranding generated public controversy, including criticism from the building's original architect. The bank also delayed its core-system conversion because of pandemic-related disruptions, ultimately targeting early 2022 for the branch and technology integration. Truist acknowledged the historical relationship of predecessor institutions to slavery in 2020 and issued an apology. BB&T's independent brand was ultimately retired as the merged institution adopted Truist.
- 2019
Merger with SunTrust completed
[1]The merger closes and creates Truist Financial, ending BB&T as an independent corporate brand.
- 1997
BB&T identity becomes group-wide name
[1]The Southern National name is replaced by BB&T throughout the holding company.
- 1995
Merger with Southern National Bank
[1]BB&T combines with Southern National Bank in a major regional consolidation.
- 1923
Mortgage division established
[1]The bank adds a mortgage division to its financial-services operations.
- 1922
Insurance business added
[1]BB&T expands beyond banking by adding insurance services.
- 1889
Banking and trust charter obtained
[1]Branch and associates secure a North Carolina charter for Wilson Banking and Trust Company.
- 1887
Branch assumes control
[1]Alpheus Branch buys Hadley's shares, renames the business, and moves it to Nash Street in downtown Wilson.
- 1872
Branch and Hadley is founded
[1]Alpheus Branch and Thomas Jefferson Hadley establish a merchant bank in Wilson, North Carolina.
Products and positioning
A relationship-oriented regional bank serving consumers, small businesses, commercial clients, and wealth-management customers in the United States.
Banking
Retail banking
BB&T's retail-banking business served individual customers through deposit accounts, consumer lending, payment services, branches, ATMs, and digital channels. It formed the everyday-banking foundation of the brand and was supported by the company's broader mortgage, insurance, and wealth-management activities.
Banking
Commercial banking
Commercial banking covered services for businesses and institutions, including lending, deposits, treasury functions, and relationship management. The business reflected BB&T's historical roots in serving local merchants and farmers while supporting its later role as a large regional financial institution.
Lending · 1923
Mortgage finance
BB&T operated a mortgage division from 1923, providing home-finance services within its broader consumer and commercial banking portfolio. Mortgage lending was one of the brand's long-standing extensions beyond deposit-taking and general-purpose banking.
Insurance · 1922
Insurance services
BB&T added insurance services in 1922 and developed insurance as a significant part of its diversified financial-services model. The offering complemented banking relationships by serving consumer, business, and institutional risk-management needs.
Financial services
Wealth management
Wealth-management activities provided investment, planning, fiduciary, and related services for higher-net-worth individuals, families, and organizations. The business helped position BB&T as a full-service regional financial institution rather than solely a deposit and lending bank.
Controversies
2020
Acknowledgment of historical slavery ties
Truist acknowledged that predecessor institutions had historical connections to slavery and the repression of enslaved people, expressed regret, and denounced those aspects of its heritage. The discussion included BB&T's historical roots and the backgrounds of its founders' families.
2019
BB&T sues Hitachi Vantara over 2018 outage
BB&T filed a lawsuit against Hitachi Vantara, alleging breach of contract, unfair and deceptive trade practices, and gross professional negligence related to hardware management at a data center. BB&T said a February 2018 outage blocked thousands of customers from accessing their accounts; Hitachi Vantara said it was reviewing the claims and believed it provided high-quality service.
Marketing campaigns
- 1917Liberty Bond sales
United States
BB&T participated in selling Liberty Bonds during World War I, supporting a major U.S. government financing initiative.
Outcome. The activity broadened the bank's public financial role during wartime.
Brand decisions
2021
Delay core-system conversionStrategyBackground
The integration of BB&T and SunTrust technology platforms was complicated by disruptions associated with the COVID-19 pandemic.
Action taken
Truist moved the planned core conversion and branch technology integration to early 2022.
Aftermath
The legacy BB&T and SunTrust operating identities continued for longer while the combined bank prepared for systems consolidation.
2019
Merger with SunTrust BanksM&ABackground
BB&T and SunTrust sought scale through a merger of equals in a consolidating U.S. banking market.
Action taken
The companies announced the combination in February, selected Truist Financial as the new corporate name in June, and completed the merger in December.
Aftermath
Truist Financial was created, BB&T's brand was retired, and the combined company began a multiyear systems and branch integration.
1995
Merge with Southern National BankM&ABackground
BB&T pursued regional consolidation as the U.S. banking sector became more competitive and geographically integrated.
Action taken
The bank merged with Southern National Bank; the holding company initially retained the Southern National name.
Aftermath
The BB&T identity replaced Southern National throughout the organization in 1997.
Recent events
- 2021
Truist delays core-system conversion[1]
Other
The merged bank announced that the planned conversion of core systems and branch technology would take place in early 2022 after pandemic-related delays.
- 2019
BB&T and SunTrust announce a merger of equals[1]
M&A
The two regional banks announced plans to combine, creating Truist Financial and a large U.S. banking organization.
- 2019
The combined company adopts the Truist name[1]
M&A · Other
BB&T and SunTrust selected Truist Financial Corporation as the name for their merged organization after research and stakeholder consultations.
- 2019
Truliant Federal Credit Union files a trademark lawsuit over the Truist name[1]
Lawsuit · M&A
Truliant alleged that the Truist name could create confusion with its own name and products. The parties agreed to dismiss the claims in 2020, and the case was closed.
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