SunTrust, BB&T Banks Announce Post-Merger Name
SunTrust and BB&T announced their new name Wednesday: Truist. The two banks revealed the name more than four months after announcing their merger.
Once approved, Truist will become the sixth largest bank in the country with its headquarters in Charlotte, North Carolina.
"With the merger of equals, our goal is to create a bold, transformative organization that delivers a smarter and easier client experience through technology and human connection," BB&T CEO Kelly S. King said in a press release.
King will serve as the chairman and CEO of the combined company, which was valued at $66 billion.
Shareholders of both SunTrust and BB&T will vote on the merger, which is expected to become final by this fall.
BB&T shareholders will also get a chance to vote on the new name. The holding company will be called Truist Financial Corporation.
SunTrust bank is currently headquartered in Atlanta and it's also the name of the Braves stadium, SunTrust Park.
But it’s unclear on how the merge will affect the park’s name.