Bloomberg, June 12, 2019: BB&T and SunTrust pick a new name for post-merger bank: Truist
Truist. That’s the name that will join the ranks of the biggest U.S. banks. BB&T Corp. and SunTrust Banks Inc. chose Truist as their name after the two companies complete their planned $28 billion merger, according to a statement Wednesday. If the combination is approved by regulators, Truist would become the sixth-largest U.S. commercial bank, serving more than 10 million households.
“It’s the biggest day of my career,” BB&T Chief Executive Officer Kelly King, who will have the same role at Truist, said in a phone interview Wednesday. “Now I can tell my wife, so she can get it embroidered onto my pajamas.”
The merger is scheduled to close in the second half of the year, pending regulatory and shareholder approval.