SunTrust merged with BB&T to form Truist in December 2019

SunTrust Banks stopped existing as a separate company on December 6, 2019, when it completed its merger with BB&T Corporation. The combined entity took the name Truist Financial Corporation. If you had a SunTrust account on that date, your account automatically transferred to Truist — you did not need to do anything, and your account number and routing number stayed the same.

This was not a takeover or acquisition where one company bought another. It was a merger of equals, meaning both SunTrust and BB&T shareholders voted to approve the deal, and both companies' leadership had a say in how the new organization would be structured. The merger created the sixth-largest bank by deposits in the United States at the time.

Key Takeaways

  • SunTrust and BB&T merged on December 6, 2019, to create Truist Financial Corporation, and all SunTrust accounts automatically became Truist accounts.
  • Your account number, routing number, and online login credentials remained the same after the merger closed.
  • SunTrust branches were gradually rebranded to Truist over the following months, but the physical locations and services did not change immediately.
  • The merger was announced in February 2019 and took nearly a year to complete because federal regulators had to review and approve it.

What happened to SunTrust branches and customer accounts

When the merger closed, every SunTrust customer automatically became a Truist customer. Your checking account, savings account, credit cards, loans, and any other products you held transferred over without interruption. You could continue using your debit card, writing checks, and accessing online banking without any break in service.

The physical branch locations did not close. Instead, they were gradually rebranded with new Truist signage over the following months. Some branches were consolidated — meaning a few SunTrust and BB&T locations in the same area were combined into a single Truist branch — but most customers kept access to a nearby branch. The bank kept most of the SunTrust footprint in the Southeast and Mid-Atlantic regions where SunTrust had been strongest.

Why the merger took so long to complete

SunTrust and BB&T announced the merger in February 2019, but it did not close until December of that year. The delay was not because the companies were unprepared; it was because federal banking regulators had to review and approve the deal. The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation all had to sign off on it.

Regulators examine large bank mergers to make sure they do not reduce competition in local markets or create risks to the financial system. In this case, there was overlap in some markets — both banks had branches in the same cities — so regulators required the companies to divest (sell off) certain branches to maintain competition. Truist had to sell branches in some areas to satisfy these requirements before the merger could close.

How the merger affected customer service and products

In the immediate months after the merger, customer service remained largely the same. Truist kept most of the products and services that SunTrust customers were using. However, over time, Truist consolidated systems and processes. For example, online banking platforms were merged, so customers eventually moved to a single Truist login rather than separate SunTrust and BB&T systems.

Some customers experienced changes to their account terms, interest rates, or fees as Truist standardized products across the combined bank. If you had a SunTrust account with specific terms or rates, Truist honored those for an agreed-upon period, but when that period ended, your account moved to Truist's standard terms. This is typical in bank mergers and was disclosed to customers before the merger closed.

The timeline from announcement to completion

The merger followed a standard regulatory process. SunTrust and BB&T announced the deal in February 2019. Both companies' boards of directors approved it, and shareholders voted on it in the spring of 2019. Regulators then spent the summer and fall reviewing the deal and negotiating the required branch divestitures. The merger officially closed on December 6, 2019, and Truist began operating as a single bank.

The rebranding of branches and systems took several more months. By mid-2020, most SunTrust branches had been rebranded to Truist, and most customer-facing systems had been consolidated. However, some backend systems took longer to fully integrate, and Truist continued optimizing operations for years after the merger closed.

What this meant for SunTrust employees

The merger affected thousands of SunTrust and BB&T employees. Some roles were consolidated because the merged bank did not need duplicate positions. Truist offered severance packages to employees who were laid off and tried to retain key talent by offering retention bonuses. Many SunTrust employees were offered positions at Truist, though not always in the same role or location.

Like most large bank mergers, this one involved significant workforce reductions. However, Truist also hired for new roles and expanded in certain areas. Employees who stayed generally kept their jobs, though some experienced changes to their titles, reporting structure, or compensation.

Frequently Asked Questions

Do I still have my SunTrust account number and routing number?

Yes. Your account number and routing number did not change when SunTrust became Truist. Direct deposits, automatic payments, and other recurring transactions continued without interruption. You did not need to update anything with your employer or creditors.

What if I had a SunTrust credit card?

SunTrust credit cards were converted to Truist credit cards. Your card number, credit limit, and account terms remained the same initially. Over time, Truist may have updated card designs or terms, but you were not forced to close the account or reapply. You could continue using the card as normal.

Did SunTrust customers have to move their money?

No. The merger was automatic. Your money stayed in your account, and you did not have to do anything. If you wanted to move your money to a different bank, you could have, but there was no requirement to do so.

Why did SunTrust and BB&T decide to merge?

Both banks wanted to grow and compete more effectively with larger national banks. The merger created a bigger institution with more resources, broader geographic reach, and more products to offer customers. For shareholders, the merger created value by combining two profitable companies into one larger, more efficient organization.

Is Truist still operating today?

Yes. Truist Financial Corporation continues to operate as a major regional bank. It serves millions of customers across the Southeast, Mid-Atlantic, and other regions. If you still have a Truist account that came from SunTrust, it is still active under Truist's ownership and management.