Truist Bank

Corporate brand

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Major American bank holding company created through the merger of BB&T and SunTrust.

Last updated October 20, 2026

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Overview

Truist Financial Corporation is a U.S. financial-services holding company headquartered in Charlotte, North Carolina. It was created in December 2019 through the merger of BB&T Corporation and SunTrust Banks, bringing together two large regional banking franchises with long histories in the southeastern United States. The combined company operates through Truist Bank and related businesses, serving consumers, small businesses, commercial enterprises, institutions, and wealth-management clients. The brand’s banking activities include consumer deposits and lending, mortgages, credit cards, payments, small-business banking, commercial and corporate banking, investment banking, securities brokerage, asset management, and private wealth services. Through its banking network, Truist has historically maintained a large branch presence across the United States, particularly in the Southeast and Mid-Atlantic, while also serving clients through digital channels and specialized financial-advice teams. Its principal securities and capital-markets activities operate under Truist Securities, while wealth and investment offerings are associated with Truist Wealth and related units. Truist’s heritage combines the community-bank orientation of BB&T with SunTrust’s Atlanta-based regional-bank franchise. BB&T traced its origins to a merchant bank established in Wilson, North Carolina, in 1872 and expanded through decades of branch growth and acquisitions. SunTrust developed from Southern Bank of Washington, founded in 1891, and the later consolidation of several southeastern banking institutions. Both institutions became significant regional banks before agreeing to combine. The merger was announced in 2019 and legally completed on December 6 of that year. Truist adopted a new name and visual identity rather than retaining either legacy brand. The transition involved the integration of branch systems, technology, products, employees, and customer accounts. Truist presented the combination as a way to create a larger regional competitor with greater investment capacity, broader capabilities, and a substantial physical and digital distribution network. The company also inherited a major insurance platform from BB&T. BB&T Insurance Holdings was renamed Truist Insurance Holdings in 2020 and became one of the group’s significant nonbank businesses. In 2024, Truist agreed to sell the insurance business to an investor group led by Clayton, Dubilier & Rice, reflecting a strategic decision to concentrate more heavily on core banking and wealth businesses. The transaction was described as subject to customary closing conditions and regulatory approvals. Truist is positioned between a relationship-focused regional bank and a nationally scaled financial institution. Its stated customer proposition emphasizes advice, accessibility, community involvement, and digital tools, while its size allows it to offer capital-markets, treasury, lending, and wealth services to larger organizations. The company remains listed on the New York Stock Exchange under the symbol TFC and operates as an active U.S. bank holding company.

History

Truist Bank emerged from the combination of BB&T Corporation and SunTrust Banks, two established United States banking organizations. The transaction was completed in 2019 and created Truist Financial Corporation, under which the combined banking operations were organized. The Truist name subsequently became the customer-facing identity for the unified franchise. The formation of Truist was a major integration of two predecessor banking systems, customer bases, branch networks, product portfolios, and operating cultures. Rather than representing a newly founded de novo bank, Truist Bank carries forward the activities of those predecessor institutions while consolidating them under a new corporate and consumer brand. The bank’s role within the group is that of the principal deposit-taking and lending institution. Its service scope covers ordinary consumer banking as well as broader financial needs. Publicly described product areas include checking and savings, credit cards, mortgages, lending, small-business services, commercial banking, and digital banking. This breadth reflects the strategy of operating as a diversified banking franchise rather than focusing on one financial product or customer segment. The Truist brand serves customers in the United States through a combination of physical and digital channels. Its consumer offerings include Truist One Checking and home-loan services marketed under Truist Home Loans. The broader organization also supports business and commercial clients, although the supplied reference does not provide a detailed separation of which services are legally delivered by Truist Bank versus other entities within Truist Financial Corporation. Truist Financial Corporation is publicly traded under ticker TFC, while Truist Bank functions as its principal banking subsidiary. The available source material does not establish a complete chronology of integration milestones, executive appointments, product migrations, regulatory developments, financial results, or later corporate changes. Accordingly, this history is limited to the documented brand origin, corporate relationship, operating scope, and principal service categories.

2019
Truist banking organization established
[1]Truist Bank: Checking, Savings, Lending, and Financial Servicestruist.com
The combination of BB&T Corporation and SunTrust Banks was completed, creating Truist Financial Corporation and the foundation for the Truist Bank brand.

Products and positioning

A full-service United States banking franchise serving consumer, small-business, commercial, and related financial-services customers through the Truist brand.

Checking account
Truist One Checking
A consumer checking account offered under the Truist brand for everyday banking activity. It is presented as one of Truist’s named retail banking offerings and sits within the bank’s broader deposit-account portfolio. The supplied reference does not specify detailed fees, eligibility rules, balance requirements, benefits, or pricing.
Mortgage and home lending
Truist Home Loans
Truist’s named home-finance offering, covering mortgage and related home-loan services. It forms part of the bank’s lending business and complements its deposit, payment, and consumer-finance products. The supplied reference does not provide detailed loan types, rates, underwriting criteria, or geographic eligibility.
Deposits
Consumer banking accounts
Truist provides checking and savings accounts for personal banking customers. These deposit products support everyday transactions, saving, and access through the bank’s branch and digital channels. Specific account names, terms, fees, and product-level performance information are not established in the supplied materials.
Payments and cards
Credit cards
Credit-card products are included among Truist’s consumer financial services. They extend the bank’s offering beyond deposit accounts and lending into payments and revolving consumer credit. The available reference does not identify individual card products, rewards programs, launch dates, or pricing.
Business banking
Small-business banking
Truist serves small businesses with banking and financial services positioned alongside its consumer and commercial businesses. The supplied material confirms the category but does not enumerate the full product set, customer eligibility, specialized lending programs, or service model.
Commercial banking
Commercial banking
Commercial banking is part of Truist’s broader institutional and business offering. It supports the bank’s full-service positioning for larger business and commercial customers, although the available source does not provide a detailed breakdown of treasury, credit, capital-markets, or relationship-banking products.

Brand decisions

2019
Combination of BB&T and SunTrustM&A
Background
BB&T Corporation and SunTrust Banks combined their businesses to create Truist Financial Corporation and a unified Truist banking brand.
Action taken
The combined organization established Truist Bank as its principal banking subsidiary and began consolidating the predecessor franchises under the Truist identity.
Aftermath
The transaction created the corporate and brand platform from which Truist’s consumer, small-business, commercial, and related banking services are offered.
Source

Recent events

2024
Truist agrees to sell insurance business[2]Truist同意出售保险业务ir.truist.com
M&A
Truist agreed to divest Truist Insurance Holdings to an investor group led by Clayton, Dubilier & Rice as part of a focus on core banking and wealth businesses.
2024
Truist receives regulatory scrutiny over merger integration[3]Truist因合并整合受到监管审查consumerfinance.gov
Regulation · Other
The Consumer Financial Protection Bureau announced an enforcement action concerning alleged deposit-account and payment-processing practices at Truist Bank.
2024
Truist agrees to sell its insurance business[4]Truist同意出售其保险业务en.wikipedia.org
M&A
Truist reached an agreement to divest Truist Insurance Holdings to an investor group led by Clayton, Dubilier & Rice.
2022
Truist acquires Long Game Savings[4]Truist同意出售其保险业务en.wikipedia.org
M&A · Product launch
Truist acquired the San Francisco financial-technology startup Long Game Savings, whose product used gamification to encourage saving.
2022
Truist class-action litigation over overdraft practices[5]Truist因透支行为面临集体诉讼reuters.com
Lawsuit
Truist faced litigation concerning alleged overdraft-fee practices; the claims and outcomes varied by proceeding.
2019
BB&T and SunTrust announce merger of equals[4]Truist同意出售其保险业务en.wikipedia.org
M&A
The two regional banking companies announced a combination intended to create a large U.S. financial-services organization.
2019
Truist begins operations after BB&T–SunTrust merger[4]Truist同意出售其保险业务en.wikipedia.org
M&A · Leadership change
The merger legally closed and the combined holding company adopted the Truist name.
2019
BB&T and SunTrust announce a merger of equals[4]Truist同意出售其保险业务en.wikipedia.org
M&A
The two regional banking companies announced the transaction that would create Truist Financial.
2019
Truist begins operations after BB&T and SunTrust combination[4]Truist同意出售其保险业务en.wikipedia.org
M&A · Leadership change
The merger closed in December 2019 and the combined holding company adopted the Truist identity.

Sources14 sources

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