The purchase of SunTrust Banks Inc., with headquarters in Atlanta, Georgia, by BB&T Corp. of Winston Salem has been approved by shareholders of the two banks. The name of the new bank will be Truist Financial Corp.
The purchase is expected to close in late September to early October. The North Carolina Commissioner of Banks has approved the deal, which is now waiting for reviews from the Federal Deposit Insurance Corp. and the Federal Reserve.
Announcement of such deals can be made know to customers through flyer printing and other printed materials outlining the services at such new banks.
The headquarters of Truist Financial Corp. will be in Charlotte and Winston Salem will serve as the base for the community banking division. Atlanta will be the headquarters for the wholesale banking division. There will be branches of the bank in 17 states, primarily in the Southeast, with additional branches in Texas, New Jersey, and Pennsylvania.
Chairman and chief executive of BB&T, Kelly King, expressed his pleasure that the shareholders of the bank have approved both the merger with SunTrust and the new name of the bank. He added that this milestone in the history of the bank will enable it to become a strong organization that will have many benefits for the community, its clients, and its shareholders.
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3490 Reynolda Rd
Winston-Salem, NC 27106
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