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

Before Truist existed, there were two separate regional banks: BB&T (Branch Banking and Trust Company) and SunTrust Banks. On December 6, 2019, these two companies combined to create Truist Financial Corporation. If you held an account at either bank before that date, your account became a Truist account after the merger closed.

The merger created the sixth-largest bank in the United States by assets. Both banks had operated independently for decades, serving customers across different regions with their own branch networks, online platforms, and customer service systems. After the merger, those systems were gradually integrated into a single Truist operation.

Key Takeaways

  • BB&T and SunTrust were two separate banks that merged on December 6, 2019, to form Truist Financial Corporation.
  • BB&T was headquartered in Winston-Salem, North Carolina, and operated primarily in the Southeast and Mid-Atlantic regions.
  • SunTrust was headquartered in Atlanta, Georgia, and served customers across the Southeast, Mid-Atlantic, and parts of the Midwest.
  • If you had an account at either bank before the merger, it automatically became a Truist account with the same account number and routing number.
  • The merger took several years to fully integrate the two banks' systems, branches, and operations into one unified company.

What BB&T was before the merger

BB&T (Branch Banking and Trust Company) was founded in 1872 in Durham, North Carolina. By the time of the merger, it had grown into one of the largest banks in the Southeast, with headquarters in Winston-Salem, North Carolina. The bank operated more than 2,000 branches across 15 states and Washington, D.C., primarily in North Carolina, South Carolina, Virginia, West Virginia, Kentucky, and Tennessee.

BB&T was known for its community banking focus and had built a reputation for serving both individual customers and small to mid-sized businesses. The bank offered checking and savings accounts, mortgages, credit cards, investment services, and commercial lending. Many customers had long-standing relationships with BB&T and recognized its name and logo in their local communities.

What SunTrust was before the merger

SunTrust Banks was founded in 1891 and was headquartered in Atlanta, Georgia. It was a larger regional bank than BB&T at the time of the merger, with more than 1,400 branches across 12 states and Washington, D.C. SunTrust had a strong presence in Florida, Georgia, Alabama, Mississippi, Louisiana, Maryland, Delaware, and Virginia, and also operated in parts of the Midwest.

SunTrust offered a similar range of products to BB&T: personal banking services, mortgages, credit cards, wealth management, and commercial banking. The bank had a significant presence in Florida in particular, where it was one of the largest banks operating. Like BB&T, SunTrust had deep roots in its communities and a long history of retail and commercial banking.

How the merger affected customer accounts and services

When the merger closed on December 6, 2019, customer accounts at both banks did not disappear or require action. Your account simply became a Truist account. If you had a BB&T checking account, it remained a checking account under Truist. If you had a SunTrust savings account, it remained a savings account. Your account number and the money in your account stayed the same.

However, the integration of the two banks' systems took time. For several months after the merger, customers at the two banks could not immediately transfer money between BB&T and SunTrust accounts online or see both accounts in a single login. Truist gradually unified the online banking platforms, mobile apps, and branch networks over the following year. Some customers experienced temporary service disruptions or had to update their login information as systems were consolidated.

Branch closures and consolidation after the merger

After the merger, Truist announced plans to close some overlapping branches in areas where BB&T and SunTrust had both operated. The bank identified locations where two branches were close to each other and consolidated them into single Truist branches. This process began in 2020 and continued over several years as the company optimized its physical footprint.

Customers whose branch closed were notified in advance and directed to nearby Truist branches. The consolidation reduced the total number of Truist branches compared to the combined total of BB&T and SunTrust branches before the merger. However, Truist maintained a substantial branch network across the Southeast and Mid-Atlantic regions where both predecessor banks had operated.

Why the two banks decided to merge

BB&T and SunTrust announced their merger in February 2019 as a way to create a larger, more competitive regional bank. The banking industry had been consolidating for years, with larger national banks gaining market share. By combining, BB&T and SunTrust believed they could achieve cost savings, expand their geographic reach, and invest more in technology and digital banking services.

The merger also allowed the combined company to serve customers across a larger territory without duplicating back-office operations, technology systems, and administrative functions. Both banks' boards of directors and shareholders approved the deal, and federal banking regulators cleared it after reviewing whether the merger would harm competition in local markets.

What happened to BB&T and SunTrust brand names

After the merger closed, the BB&T and SunTrust brand names were gradually phased out. Branches that had operated under those names were rebranded as Truist. Online banking platforms were consolidated into Truist's systems. Marketing and advertising shifted to the Truist name and logo. By 2021, the transition was largely complete, and customers primarily interacted with Truist rather than the old bank names.

Some customers who had strong loyalty to the BB&T or SunTrust names found the rebranding frustrating, but the merger agreement required the integration of the two brands into one. Truist kept some of the products and service models that had made each predecessor bank successful, but under the unified Truist identity.

Frequently Asked Questions

Do I still have the same account number if I had BB&T or SunTrust before the merger?

Yes. Your account number remained the same when the merger closed. Your routing number may have changed depending on which bank you used and which Truist routing number was assigned to your account, but your account itself did not change. You can find your current routing number by logging into Truist online banking or calling customer service.

What if I had accounts at both BB&T and SunTrust before the merger?

Both accounts became Truist accounts. After the systems were fully integrated (which took several months), you were able to see and manage both accounts in a single Truist login. You could then transfer money between them online if you chose to consolidate.

Did the merger affect my mortgage, credit card, or loan?

No. If you had a mortgage, credit card, or loan at BB&T or SunTrust before the merger, it continued under the same terms after the merger closed. The loan or credit agreement did not change. You may have received new statements with the Truist name and logo, but the underlying account and your obligations remained the same.

Can I still bank at a BB&T or SunTrust branch?

No. All BB&T and SunTrust branches were rebranded as Truist branches by 2021. If your local branch closed as part of the consolidation, you can find the nearest Truist branch on Truist's website or by calling customer service. You can also conduct most banking online or through the Truist mobile app.