Truist is a regional bank formed by merging BB&T and SunTrust in 2019

Truist Financial Corporation is a bank holding company that operates retail and commercial banking services across the southeastern United States and beyond. The bank was created when BB&T Corporation and SunTrust Banks merged on December 6, 2019, combining two of the region's largest financial institutions into one. Today, Truist operates under the Truist Bank brand and serves millions of customers through branches, online banking, and mobile apps.

If you held an account with either BB&T or SunTrust before the merger, your account automatically became a Truist account. The merger did not close existing accounts or force customers to move their money — it simply changed the name on the statements and the parent company behind the scenes. Truist kept most branch locations open and maintained the same account types and services that customers were already using.

Truist is headquartered in Charlotte, North Carolina, and is one of the largest banks by assets in the United States. It operates as a publicly traded company on the New York Stock Exchange under the ticker symbol TFC. The bank is regulated by the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC), like all national banks.

Key Takeaways

  • Truist Bank was created in December 2019 when BB&T and SunTrust merged, combining two major southeastern banks into one institution.
  • Existing BB&T and SunTrust customers automatically became Truist customers without having to close or move their accounts.
  • Truist offers checking, savings, money market, and certificate of deposit accounts to retail customers, plus commercial and investment banking services.
  • Your deposits at Truist are insured by the FDIC up to $250,000 per account type, the same protection that applies at any FDIC-insured bank.
  • Truist operates thousands of branches and ATMs across the Southeast and Mid-Atlantic, with online and mobile banking available nationwide.

What services Truist offers to individual customers

Truist provides standard retail banking products: checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs). The bank also offers personal loans, home mortgages, home equity lines of credit (HELOCs), auto loans, and credit cards. Each product comes with its own terms, interest rates, and fees, which vary based on the account type and your banking history with Truist.

The bank operates a network of physical branches where you can deposit checks, withdraw cash, and speak with a banker in person. Truist also maintains thousands of ATMs, many of which are shared with other banks through ATM networks, so you may be able to withdraw cash without a fee at locations beyond Truist's own branches. Online and mobile banking let you check balances, transfer money, pay bills, and deposit checks by photograph from your phone or computer.

Truist also offers investment services through its wealth management division, though those services are typically aimed at customers with larger account balances or those seeking professional investment advice. Small business banking is available through Truist's commercial division, with products designed for sole proprietors and companies.

How FDIC insurance protects your money at Truist

Deposits at Truist Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per account type, per bank. This means if Truist were to fail, the FDIC would reimburse you for your deposits up to that limit. The FDIC insurance applies to checking accounts, savings accounts, money market accounts, and CDs held in your name alone.

If you have multiple account types at Truist — for example, a checking account and a savings account — each is insured separately up to $250,000. If you have a joint account with another person, that account is also insured separately, meaning you and your co-owner each have $250,000 of coverage on that joint account. Retirement accounts (IRAs) held at Truist are insured up to $250,000 as a separate category.

This protection is automatic — you do not need to sign up for it or pay a fee. The FDIC insurance transferred seamlessly when BB&T and SunTrust merged into Truist, so if you had coverage before, you still have it now.

Truist's geographic footprint and branch availability

Truist operates branches in multiple states, with the heaviest concentration in North Carolina, South Carolina, Georgia, Virginia, and Florida. The bank also has a significant presence in Maryland, Delaware, Pennsylvania, New Jersey, and other Mid-Atlantic states. If you live in one of these regions, you likely have access to a Truist branch within a reasonable distance.

If you live outside Truist's branch network, you can still open and maintain accounts online and use Truist's mobile app to manage your money. You can deposit checks by photograph, transfer funds, and pay bills without visiting a branch. However, if you need to deposit cash or handle transactions that require in-person verification, the lack of a nearby branch may be inconvenient.

Truist participates in ATM networks that extend beyond its own branches, so you may be able to withdraw cash without a fee at partner ATMs even if no Truist branch is nearby. Check Truist's website or call customer service to confirm which ATM networks are available in your area.

How the BB&T and SunTrust merger affected customers

When the merger closed in December 2019, customers of both banks were automatically converted to Truist customers. No one had to close their account, move their money, or take any action — the transition happened behind the scenes. Account numbers, routing numbers, and online login credentials changed for some customers, and Truist mailed new debit cards and checks with the Truist name.

Some customers experienced temporary confusion during the transition because branch signage, online platforms, and customer service systems all shifted to the Truist brand over a period of weeks. Truist also consolidated some overlapping branch locations in areas where BB&T and SunTrust had been close to each other, which meant a small number of customers lost their nearest branch. However, most customers kept access to a Truist location nearby.

The merger did not change deposit insurance coverage or the safety of customer funds. Both BB&T and SunTrust were FDIC-insured banks before the merger, and Truist is FDIC-insured now. Customers who had coverage before the merger kept the same coverage after.

Truist's role as a major regional bank

Truist ranks among the top 10 largest banks in the United States by total assets. The bank competes with other large regional banks like Bank of America, Wells Fargo, and Fifth Third Bank, as well as with smaller community banks and online-only banks. Truist's size means it has the resources to invest in technology, customer service, and branch networks, but it also means it operates under strict federal regulation and oversight.

As a publicly traded company, Truist answers to shareholders and must report its financial performance quarterly. The bank's stock price fluctuates based on earnings, interest rates, economic conditions, and investor sentiment. If you hold Truist stock or have retirement accounts invested in Truist, you are exposed to the bank's performance as a company, though your deposits remain insured by the FDIC regardless of the stock price.

Frequently Asked Questions

Is my money safe at Truist?

Yes. Truist is an FDIC-insured bank, meaning deposits up to $250,000 per account type are protected by federal insurance. Truist is also regulated by the Federal Reserve and the Office of the Comptroller of the Currency, which oversee the bank's safety and soundness. The merger of BB&T and SunTrust did not change this protection.

Do I need to do anything now that BB&T and SunTrust merged into Truist?

No. If you had an account with either bank before the merger, it automatically became a Truist account. You may have received new debit cards and checks in the mail, but your account, balance, and access remained unchanged. If you have not received new cards or have questions about your account, contact Truist customer service.

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

Old cards stopped working after the transition period ended. Truist mailed new debit cards with the Truist name to all customers. If you did not receive a new card or it was lost, contact Truist to request a replacement.

Does Truist have branches near me?

Truist's branches are concentrated in the Southeast and Mid-Atlantic. You can search for nearby branches on Truist's website by entering your zip code. If no branch is nearby, you can still open and manage accounts online and use mobile banking to handle most transactions.

What is the difference between Truist and other banks?

Truist is a large regional bank, which means it has more branches and services than a small community bank but less national reach than Bank of America or Wells Fargo. Truist offers in-person service and a physical branch network, whereas online-only banks offer lower fees but no branches. The right bank depends on whether you value in-person service, branch availability, or lower fees.