Truist was formed in 2019 when BB&T and SunTrust merged into one bank

Truist Bank did not exist before December 2019. The bank you know today was created when two separate regional banks — BB&T Corporation and SunTrust Banks — combined their operations into a single institution. The merger was announced in February 2019 and completed nine months later. If you had an account at either bank before that date, your account became a Truist account on the merger date.

This was not a takeover where one bank absorbed the other. It was a merger of equals, meaning both banks' leadership and boards negotiated the deal as partners. The combined company kept the Truist name, which was new — neither of the original banks used that name before the merger.

Key Takeaways

  • Truist was created on December 6, 2019, when BB&T Corporation and SunTrust Banks merged their operations into one company.
  • BB&T was headquartered in Winston-Salem, North Carolina, and SunTrust was headquartered in Atlanta, Georgia, making Truist a combination of two major Southeast regional banks.
  • If you had an account at BB&T or SunTrust before the merger, that account automatically became a Truist account with the same account number and terms.
  • The merger created the sixth-largest bank by assets in the United States at the time, with branches across the Southeast and Mid-Atlantic regions.

What BB&T was before the merger

BB&T stood for Branch Banking and Trust Company. The bank was founded in 1872 in Wilson, North Carolina, and grew over more than a century into one of the largest regional banks in the Southeast. By the time of the merger, BB&T operated more than 2,100 branches across 15 states and Washington, D.C., with a strong presence in North Carolina, Virginia, and the Mid-Atlantic region.

BB&T offered the same products you see at Truist today: checking and savings accounts, credit cards, mortgages, auto loans, and investment services. The bank was known for being community-focused and had a reputation for lending to small businesses and individuals in the regions where it operated. BB&T was publicly traded on the New York Stock Exchange under the ticker symbol BBT.

What SunTrust was before the merger

SunTrust Banks was founded in 1891 and was headquartered in Atlanta, Georgia. Like BB&T, it was a major regional bank that had grown over more than a century. SunTrust operated roughly 1,500 branches across the Southeast and Mid-Atlantic, with particularly strong presence in Georgia, Florida, and Tennessee. The bank was also publicly traded on the New York Stock Exchange under the ticker symbol STI.

SunTrust offered the same range of banking services as BB&T: deposit accounts, loans, credit cards, wealth management, and commercial banking. The bank had a significant presence in consumer banking and was also known for serving businesses of all sizes. Before the merger, SunTrust was the larger of the two banks by some measures, though both were considered major regional institutions.

Why the two banks decided to merge

Both banks faced the same pressures that many regional banks experienced in the late 2010s: larger national banks like Bank of America and Wells Fargo had more resources to invest in technology, and customers increasingly expected digital banking options. Merging allowed BB&T and SunTrust to combine their technology investments, reduce duplicate costs, and compete more effectively with the largest national banks.

The merger also allowed the combined bank to serve a larger geographic area without having to build new branches from scratch. Where BB&T and SunTrust had overlapping branch networks, Truist could close redundant locations and reinvest those resources into technology and customer service. The deal was structured so that both banks' shareholders benefited, and both sets of customers kept their accounts and services largely unchanged.

What happened to your account during the merger

If you had a checking account, savings account, credit card, or loan at BB&T or SunTrust on December 6, 2019, your account automatically became a Truist account. Your account number stayed the same, your balance stayed the same, and the terms of your account (interest rates, fees, minimum balances) remained unchanged on the merger date. You did not have to do anything to make this happen.

In the months after the merger, Truist worked to convert all the old BB&T and SunTrust systems onto a single platform. This meant that over time, online banking, mobile apps, and branch systems were unified. Some customers experienced temporary disruptions during this transition, but the goal was to make the experience seamless. If you had a debit card from BB&T or SunTrust, you received a new Truist debit card in the mail.

How the branch networks combined

Before the merger, BB&T and SunTrust had overlapping branch networks in many cities and towns. After the merger, Truist evaluated which branches were redundant and made decisions about which ones to keep open. In some areas, both banks had a branch on the same street or in the same shopping center. Truist consolidated these by closing one location and keeping the other, or in some cases closing both and opening a new branch in a better location.

This consolidation took place over several years after the merger was completed. Truist announced branch closures in waves, giving customers notice and helping them transition to a nearby branch or to online and mobile banking. The goal was to reduce costs while still maintaining convenient access for customers in the regions where both banks had operated.

The leadership and structure after the merger

When BB&T and SunTrust merged, the leadership of both banks came together to form Truist's management team. Kelly King, who was the CEO of BB&T, became the CEO of Truist. Bill Rogers, who was the CEO of SunTrust, became the Executive Chairman. This structure reflected the "merger of equals" approach — both leaders had significant roles in the new company rather than one bank's leadership completely taking over.

The board of directors for Truist was also composed of directors from both BB&T and SunTrust. Over time, as with any merger, some leadership changes occurred, but the initial structure was designed to honor both institutions and their histories.

Frequently Asked Questions

Do I still have the same account if I banked at BB&T or SunTrust before 2019?

Yes. Your account automatically became a Truist account on December 6, 2019. Your account number, balance, and account terms did not change. You may have received new debit cards and access to updated online banking systems, but it was the same account.

What happened to my BB&T or SunTrust debit card?

Truist mailed you a new debit card with the Truist logo in the months after the merger. Your old card continued to work until the new one arrived. If you never received a new card or it was damaged, you could request a replacement at any Truist branch or through online banking.

Did interest rates on savings accounts or loans change when the banks merged?

Interest rates and loan terms did not automatically change on the merger date itself. However, Truist reviewed its products in the months after the merger and made changes to some rates and fees. You would have received notice of any changes to your specific account before they took effect.

Can I still use my old BB&T or SunTrust checks?

Old checks continued to work after the merger because your account number did not change. However, Truist eventually mailed you new checks with the Truist name and logo. You could order new checks through online banking or at a branch whenever you needed them.

What happened to BB&T and SunTrust as company names?

Both names were retired after the merger was complete. BB&T Corporation and SunTrust Banks ceased to exist as separate legal entities. All branches, accounts, and services operate under the Truist name today. The two banks' histories are preserved, but they no longer operate as independent institutions.