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BB&T Corporation
TypeDefunct
IndustryBanking
Founded1872; 154 years ago (1872)
FoundersAlpheus Branch
Thomas Jefferson Hadley[1]
DefunctDecember 6, 2019; 6 years ago (2019-12-06) (as an independent corporation)
February 18, 2022; 4 years ago (2022-02-18) (as a brand)
FateMerged with SunTrust to form Truist
SuccessorTruist
HeadquartersWilson, North Carolina (1872–1995)
BB&T Financial Center
Winston-Salem, North Carolina (1995–2019)
Number of locations
1,791 branches (2019)[2]
Key peopleKelly King
Chairman and CEO
ProductsCommercial and Consumer banking
Investment banking
Insurance
Mortgage
WebsiteArchived official website at the Wayback Machine (archive index)
Footnotes
[3]

BB&T Corporation (formerly the Branch Banking and Trust Company) was an American banking and financial services firms based in Winston-Salem, North Carolina. Founded in 1872, it grew to become one of the largest banks in the United States in the 20th century. In 2019, BB&T merged with Atlanta-based SunTrust to form Truist, which retains BB&T's stock price history and operates under BB&T's charter.

History

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Early History

[edit]

In 1872, Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank in their hometown of Wilson, North Carolina. After many transactions, mostly with local farmers, Branch bought out Hadley's shares in 1887 and renamed the company Branch and Company, Bankers.[4] During that same year, the bank also moved to its new headquarters on Nash Street in downtown Wilson, North Carolina.[5] Two years later, Branch, his father-in-law Gen. Joshua Barnes, Hadley, and three other men secured a charter from the North Carolina General Assembly to operate the Wilson Banking and Trust Company. After many more name changes, the company finally settled on the name Branch Banking and Trust Company. Branch remained an active member of the company until his death in 1893. The 1903 Branch Banking and Trust Company Building at Wilson was listed on the National Register of Historic Places in 1978.[4]

BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson.[6] Up until 2008, the CEO was John A. Allison IV.

History of Southern National Bank

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In 1897, the Bank of Lumberton was started by Angus Mclean in Lumberton, North Carolina, the predecessor of Southern National. The founding board members of the bank were Angus Mclean, Thomas McNeill, R. D. Caswell, C. B. Townsend, S. A. Edmund, R. L. Steele, W. L. F. Steel, T. C. Guthrie, and H. B. Jennings. The board was composed of members from Lumberton, Rockingham, North Carolina, and Bennettsville, South Carolina. Thomas McNeill was selected to be the bank's first president. He resigned a year later, when he was appointed as a judge. After McNeill resigned Mclean became president. Mclean did not simply view himself as a banker, he wanted to build companies that had a good return on their investment, created jobs, and benefited the communities they operated within. In 1955 Hector MacLean, Angus Mclean's son, was named president. The Bank of Lumberton changed its name to Southern National Bank in 1959.[7]

In 1979, the Carolina State Bank of Gastonia, started in 1971, became part of Southern National.[8] In 1982, Southern National took over Winston-Salem-based Forsyth Bank & Trust, led by Glenn Orr.[9] In 1985, Southern National had assets of $1.5 billion. With the purchase of a former Northwestern Bank branch in Hickory, which had to be sold after the First Union-Northwestern merger, Southern National had 99 branches in 26 counties.[10] In 1986, Southern National Corporation entered South Carolina with the $10 million purchase of Horry County National Bank of Loris. Later that year, Southern National announced the $5.6 million purchase of First Palmetto Bancshares Corp. of Columbia and the $9.75 million purchase of Capital Bank and Trust Co. of Belton. At the time, Southern National was North Carolina's seventh-largest banking company.[11] Also in 1986, Southern National sold its Southern National Mortgage Co. to NCNB for an estimated $7 million. Southern National had not intended to sell the business but NCNB made a good offer, and the bank could use the money for its South Carolina purchases. NCNB had exited the mortgage business in 1981 to concentrate on interstate banking, though NCNB bought Bank of North Carolina in 1982 and sold that bank's mortgages to Southern National.[12] In May 1989, Southern National announced its purchase of Allied Bankshares Inc. of Thomson, Georgia. The $59 million deal fell apart but would have been the first acquisition of a Georgia bank by a mid-sized N.C. bank.[13][14] Another failed deal in 1990 would have given Southern National $1 billion in South Carolina assets and 53 offices in the state. NBSC had $540 million in assets, while Southern National Corp. had $3.4 billion and was N.C.'s fifth largest bank holding company. NBSC shareholders objected to the $53 million deal.[14]

In 1990, Hector MacLean retired from the bank. During his presidency, the bank changed its name, grew from $3 million in assets to $3.3 billion, and grew to 148 branches. MacLean's successor was Glenn Orr.[7] Early in 1993, Southern National completed its purchase of First Federal Savings Bank in Winston-Salem,[15] putting Southern National behind only Wachovia in Forsyth County deposits. Southern National had $4.5 billion in assets, $3.9 billion of those in North Carolina, and was the state's sixth largest banking company. The company's North Carolina banking operations began moving to Winston-Salem, though Orr and the corporate headquarters stayed in Lumberton. One reason for the move was the 20-story, 239,000-square-foot (22,200 m2) One Triad Park, which had 74,000 square feet (6,900 m2) of space Southern National could move into immediately. One of the other contenders, Greensboro, would not have a new building ready, and the bank would need a temporary home.[16][17][18] With Southern National taking 80,000 square feet (7,400 m2) on eight floors, the building's name changed to Southern National Financial Center on May 3.[19]

Also in 1993, Southern National announced the purchase of Goldsboro-based East Coast Federal Savings Bank, with $256 million in assets, which Orr called "one of the best savings banks in the state."[15] The deal would make Southern National number one in deposits in Fayetteville, the state's fifth-largest banking market.[15] In 1993, Southern National announced the acquisition of First Savings Bank, FSB, headquartered in Greenville, South Carolina. With just over $2 billion in assets, it was the third largest financial institution in South Carolina.[20] Orr, along with BB&T Chairman John Allison, helped facilitate the Southern National BB&T merger.[7]

Mergers with Southern National, United Carolina

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In 1995, the bank merged with Southern National Bank, another bank with roots in the eastern part of the state. This gave BB&T 437 branches in 220 cities in the Carolinas and Virginia. The merged company became Southern National Corp., but all of its banking subsidiaries took the BB&T name. With $19 billion in assets, BB&T had the most North Carolina deposits and branches of any bank. Southern National head Glenn Orr and new BB&T chairman John Allison said the merger likely created a bank that would be too rich to be taken over by an out-of-state bank. Orr retired once the merger was complete.[21] The headquarters became BB&T Financial Center in Winston-Salem, North Carolina.[22][23] The holding company was initially named "Southern National Corp" but the BB&T name replaced "Southern National" everywhere from 1997.[24]

In 1997, Southern National Corp. took over United Carolina Bank, another eastern North Carolina–based bank, in a $985 million deal announced in November 1996. UCB had $4.5 billion in assets. 400 employees worked in Whiteville but despite losing the headquarters, the town would eventually have 500 BB&T employees working at a 250-employee call center and other operations.[25][26][27] Starting September 22, 1997, 91 UCB branches began the process of changing to BB&T, and 67 other branches of the two banks closed starting in October because they were close to other BB&T locations.[28][29]

On May 19, 1997, Southern National Corporation changed its name to BB&T Corporation and its stock symbol SN to BBT.[30]

Later Acquisitions

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The bank continued to expand nationwide through the 1990s, purchasing Fidelity Financial Bankshares,[31] First Financial of Petersburg, Maryland, Maryland Federal Bancorp,[32] and Franklin Bancorporation.[33] In 1998, BB&T acquired MainStreet Financial of Martinsville, Virginia,[34][35] and Mason-Dixon Bancshares of Westminster, Maryland,[36] and further expanded into Georgia and West Virginia after purchasing First Liberty of Macon, Georgia,[37] and Matewan Bancshares.[38]-

In 2000, BB&T purchased One Valley Bancorp, which was itself formed from a combination of community banks throughout West Virginia. This move gave BB&T the largest bank presence in West Virginia. In 2002, BB&T completed its acquisition of MidAmerica Bancorp of Louisville, Kentucky. (Bank of Louisville) and AREA Bancshares Corporation of Owensboro, Kentucky.[39][40][41] In 2003, BB&T completed its acquisition of First Virginia Banks of Falls Church, Virginia. In 2005, the bank acquired Main Street Banks of metro Atlanta for $622 million.[42] In 2006, the bank acquired Coastal Federal Bank, based in Myrtle Beach.[43]

In late 2008, the bank accepted $3.1 billion in bailout money through the sale of preferred shares to the U.S. Treasury's Troubled Asset Relief Program. In June 2009, the bank repurchased the shares.[44] In July 2008, the company acquired Puckett, Scheetz & Hogan.[45] In December 2008, the company acquired J. Rolfe Davis.[46] On August 14, 2009, the bank acquired Colonial Bank after its seizure by the FDIC. This acquisition added more than 340 branches in Alabama, Florida, Georgia, Nevada, and Texas, along with approximately $22 billion in assets.[47][48] BB&T sold the Nevada branches to U.S. Bancorp in January 2010.[49]

The company acquired Atlantic Risk Management.[50] In November 2011, the company acquired Precept, an employee benefits consulting firm.[51] In July 2012, the bank acquired BankAtlantic, and its $2.1 billion in loans and $3.3 billion in deposits.[52] The company also began selling flood insurance online.[53] In December 2013, the bank acquired 21 Citigroup branches in Texas for $36 million, adding $1.2 billion in deposits.[54] In September 2014, the bank acquired 41 more Citigroup branches, adding $2.3 billion in deposits.[55]

In June 2015, the bank acquired Bank of Kentucky for $363 million, which added $1.9 billion in assets and gave BB&T a presence in the Northern Kentucky-Cincinnati market and its first branches in Ohio.[56] In August 2015, the bank acquired Susquehanna Bank for $2.5 billion, adding 240 branches and $18.7 billion in assets, and marking the bank's entry into Pennsylvania and New Jersey.[57] In April 2016, the company acquired Swett & Crawford, a wholesale insurance broker.[58] In April 2016, the bank acquired National Penn for $1.8 billion, which added 124 branches in Pennsylvania, New Jersey, and Maryland, $9.6 billion in assets, and $6.7 billion in deposits.[59] On August 29, 2018, BB&T announced as many as 630 employees would move from its former corporate headquarters on West Nash Street in Wilson to a $35 million, 95,000-square-foot facility on Pine Street. On October 16, 2018, BB&T announced plan to move 500 employees into a 100,000-square-foot, $10 million building in Whiteville[60]

Insurance Services

[edit]

BB&T has been in the insurance business since 1922. In the late '80s and early '90s the division was losing money. In 1990 Henry William and Wade Reece, a BB&T branch manager, met to discuss how to make the business profitable again. In 1995 the insurance services division made 6 acquisitions of insurance companies based across North Carolina. In July 1999 the insurance services division had acquired 24 insurance companies in North Carolina, 15 in Virginia, 3 in South Carolina, and 1 in Georgia.[61] By 2010 BB&T's insurance division had grown to be the sixth largest broker in the US and the seventh largest in the world with $1 billion in annual revenue. The division has completed 60 mergers since 1999. In 2002 CRC was acquired, whose businesses include specialty and high risk clients. TAPCO and Southern Cross were also acquired and merged into CRC.[62] In February 2008, the division acquired Burkey Risk Services.[63] In April 2008 UnionBanc Insurance Services was acquired.[64] In November 2009, the division acquired Oswald Trippe.[65]

In September 2011 Liberty Benefit Insurance Services, an agency operating in California, was acquired.[66] In February 2012, the division acquired the life insurance, property, and casualty insurance divisions of Crump Group.[67] In March 2014, the Insurance Services division acquired Woodbury & Co., an insurance broker operating in the Carolinas.[68] In April 2014 Caledonian Insurance Group was, a company which specialized in insurance brokerage services for the aviation industry.[69] In April 2015, BB&T subsidiary CRC Insurance Services acquired the assets of Napco LLC, a broker of catastrophic commercial insurance.[70] In the June 2015 acquisition of Bank of Kentucky part of the deal was also American Coastal Insurance which increased BB&T's ownership in AMRisc.[71] In April 2018 the insurance service division announced it was purchasing Regions Insurance Group which was owned by Regions Financial Corporation[72] and the purchase was completed in July 2018.[73] The business was based in Memphis, Tennessee and had offices in 10 states. This acquisition significantly added the insurance division's retail and whole lines of business.[72] The acquisition provided BB&T Insurance Services with 60,000 new clients in multiple states.[73]

Merger with SunTrust

[edit]

On February 7, 2019, BB&T and Atlanta-based SunTrust announced a merger of equals to create the eighth-largest U.S. bank in the biggest bank deal since the 2008 financial crisis. The bank also announced the move of its headquarters to Charlotte, North Carolina, retaining significant operations in Winston-Salem.[74][75] It was subsequently announced that the bank's headquarters for community banking will be in Winston-Salem, while Atlanta would be the hub for wholesale / retail banking.[76]

On June 12, BB&T and SunTrust announced Truist Financial Corporation as the name for the merged company.[77] This name resulted from research that included hiring Interbrand, seeking opinions of employees of both banks, and focus groups.[78] The new name drew criticism from analysts and customers of both banks on social media.[79][80] Five days later, Truliant Federal Credit Union of Winston-Salem filed suit claiming "trademark infringement", complaining of potential confusion between the two companies’ respective names, including Truliant products with "Tru" in their names.[78] The parties agreed to dismiss claims on August 5, 2020, and the lawsuit was closed the next day.[81]

The merger was completed at midnight December 6, 2019.[82] BB&T CEO Kelly King retained the same position with the new company. Customers of both banks were given free access to all of Truist's ATMs free of charge.[83] The merged bank will continue to operate under the BB&T and SunTrust names until the two banks' computer hardware, software and networking systems are streamlined, a process that could take as long as two years.[84] Due to delays related to the COVID-19 pandemic, Truist announced in April 2021 that core conversion to combine the branches would be performed in early 2022.[85] However, on the day the merger closed, SunTrust Bank merged into Branch Banking & Trust Company, forming Truist Bank as the merged company's legal banking entity.

On December 11, 2019, Truist officially exercised its option to purchase Hearst Tower in downtown Charlotte from Cousins Properties. Truist moved its corporate headquarters to Hearst Tower, which was renamed Truist Center.[86] Truist had taken over 550,000 square feet (51,000 m2) of 965,000 square feet (89,700 m2) total.[87] The deal was completed on March 31, 2020; however, due to the COVID-19 pandemic, further actions were delayed.[88]

Truist unveiled its logo in January 2020, with two Ts representing touch and technology, and a shade of purple combining the blue of SunTrust and the burgundy of BB&T.[89] In November 2020, the bank used helicopters to lift up four signs to the top of the former Hearst Tower. The "Truist" wordmark appears on the North Tryon Street and North College Street sides of the building, while the other two sides displayed the Truist logo. This signage has caused a lot controversy, even leading the building's original architect to refer to the signage as vandalism.[90]

In February 2020, Truist launched a nonprofit foundation called the Truist Foundation.[91]

In March 2020, Truist announced it would vacate BB&T Financial Center, its former headquarters building in Winston-Salem, except for a branch office and would move employees in its community/retail hub to other locations in the city, including the Park Building on Cherry Street and two locations on Stratford Road.[92]

Controversies

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In 2020, Truist Financial acknowledged and apologized for the company's historic connections to slavery. Kelly King, chairman and chief executive of Truist, issued an employee memo addressing BB&T's slavery ties, but did not mention BB&T's founders Alpheus Branch and Thomas Hadley by name. Prior to the Civil War, Alpheus Branch's father Samuel owned 58 slaves. Thomas Hadley's father owned 37 slaves. The memo stated that "we must consider our own past and acknowledge the role our heritage companies played over 100 years ago to perpetuate the atrocity of slavery and the repression of enslaved people, leading to systemic disadvantages their descendants have endured for generations...We deeply regret and denounce these shameful aspects of our history, both known and unknown." According to the book "Genealogy of American Finance", the economic roots of BB&T can be traced back to 1805, even though BB&T was founded in 1872, nearly a decade after slavery was abolished. Both founders of the bank served in the Confederate Army.[93][94]

Naming Rights

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BB&T had naming rights for various sports venues.

Buildings and Branches

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See also

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References

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  1. ↑ Our account a History of BB&T. BB&T. 2012. p. 26.
  2. ↑ "BankFind Suite: Summary of Deposits — Market Share Reports". Federal Deposit Insurance Corporation. June 30, 2019. Retrieved September 15, 2026.
  3. ↑ "Truist Bank (9846) – History". Federal Deposit Insurance Corporation. September 15, 2026. Retrieved September 15, 2026.
  4. 1 2 "National Register Information System". National Register of Historic Places. National Park Service. July 9, 2010.
  5. ↑ Our account a History of BB&T. BB&T. 2012. p. 25.
  6. ↑ "Branch Banking and Trust Company (BB&T)". North Carolina History Project. Archived from the original on July 26, 2020. Retrieved April 9, 2020.
  7. 1 2 3 Our account a History of BB&T. BB&T. 2012. pp. 37–41.
  8. ↑ John York, "'We Had to Do It': Growing Bank's Expansion Expected to Be Complete by Early 1987," The Charlotte Observer, September 14, 1986.
  9. ↑ Jack Scism, "Southern National Names New Chairman," Greensboro News & Record, October 23, 1990.
  10. ↑ Karen Barber, "Commerce Draws Banks to Hickory," The Charlotte Observer, March 9, 1986.
  11. ↑ Steve Matthews, "Southern National Buys S.C. Bank for $9.75 Million," The Charlotte Observer, June 13, 1986.
  12. ↑ Steve Matthews, "NCNB Will Buy Southern National's Mortgage Company," The Charlotte Observer, June 13, 1986.
  13. ↑ John Cleghorn, "Southern National Drops Buyout Effort," The Charlotte Observer, August 16, 1989.
  14. 1 2 David Bourne, "Southern National Corp. Withdraws Buyout Bid," The Fayetteville Observer, December 4, 1990.
  15. 1 2 3 Michael Fabey, "Southern National Plans To Buy Goldsboro Bank," The Fayetteville Observer, March 10, 1993.
  16. ↑ C.E. Yandle, "Pulling up roots to go for broke: Southern National is banking on it," The News & Observer, December 13, 1992.
  17. ↑ Jack Scism, "Greensboro Loses Bid for Bank - Winston-Salem Preferred," Greensboro News & Record, November 11, 1992.
  18. ↑ "$15 Million Mortgage Taken Out on BB & T Building," Winston-Salem Journal, November 22, 1997.
  19. ↑ "Office Building Will Change Its Name for Its Major Tenant," Greensboro News & Record, May 1, 1993, p. B7.
  20. ↑ bankencyclopedia.com
  21. ↑ Tim Gray, "BB&T, Southern National banks plan to merge," The News & Observer, August 2, 1994.
  22. ↑ Taft Wireback, "Presidential Candidate Keyes Speaks in Triad," Greensboro News & Record, January 26, 1996, p. B2.
  23. ↑ Taft Wireback, "Presidential Candidate Keyes Speaks in Triad," Greensboro News & Record, January 26, 1996, p. B2.
  24. ↑ "Year of Changes," Greensboro News & Record, July 20, 1997.
  25. ↑ Kristina Bartlett, "UCB deal could hit hard in Whiteville," Star-News, November 5, 1996.
  26. ↑ Jay McIntosh, "Banks Line Up Against S&L's Conversion," The Charlotte Observer, January 23, 1990.
  27. ↑ Melissa Wahl, "Bank Center to Close," The Charlotte Observer, March 15, 1997.
  28. ↑ Doug Campbell, "BB&T to Replace Branches of UCB," Greensboro News & Record, September 20, 1997.
  29. ↑ Catherine Pritchard, "Banking Offices to Consolidate," The Fayetteville Observer, September 20, 1997.
  30. ↑ "Year of Changes," Greensboro News & Record, July 20, 1997.
  31. ↑ "SNB completes acquisition". American City Business Journals. March 3, 1997.
  32. ↑ "BB&T To Acquire Maryland Federal Bancorp, Inc" (Press release). PR Newswire. February 25, 1998.
  33. ↑ Singletary, Michelle; Behr, Peter (December 17, 1997). "NORTH CAROLINA COMPANY TO BUY FRANKLIN BANCORP". The Washington Post.
  34. ↑ "BB&T To Acquire MainStreet of Martinsville, Va" (Press release). PR Newswire. August 27, 1998.
  35. ↑ Berselli, Beth (August 28, 1998). "BB&T TO ACQUIRE MAINSTREET". The Washington Post.
  36. ↑ "BB&T To Acquire Mason-Dixon Bancshares Of Westminster, Md" (Press release). PR Newswire. January 28, 1999.
  37. ↑ "BB&T to acquire First Liberty Financial Corp. of Macon, Ga" (Press release). PR Newswire. April 28, 1999.
  38. ↑ "BB&T to buy W. Va. bank". American City Business Journals. February 25, 1999.
  39. ↑ "Notification of Merger with MidAmerica Bancorp of Louisville, Kentucky". www.sec.gov.
  40. ↑ "Notification of Merger with AREA Bancshares Corporation". www.sec.gov.
  41. ↑ "BB&T - Our History". BB&T. Archived from the original on February 14, 2019. Retrieved February 14, 2019.
  42. ↑ "BB&T to acquire Main Street Banks Inc. of metro Atlanta" (Press release). PR Newswire. December 15, 2005.
  43. ↑ "BB&T to acquire Coastal Financial Corporation of Myrtle Beach, S.C." (Press release). PR Newswire. December 21, 2006.
  44. ↑ "2 Banks Exit TARP, With More to Follow". The New York Times. June 17, 2009.
  45. ↑ "BB&T Insurance buys Myrtle Beach agency". American City Business Journals. July 30, 2008.
  46. ↑ "BB&T Insurance buys Florida firm". American City Business Journals. December 18, 2008.
  47. ↑ "BB&T Takes Over Colonial Bank". The New York Times. August 14, 2009.
  48. ↑ Isidore, Chris; Pepitone, Julianne (August 15, 2009). "BB&T buys Colonial bank; 4 other banks fail". CNNMoney. Archived from the original on August 17, 2009.
  49. ↑ "U.S. Bank Completes Purchase of Nevada Banking Operations from BB&T Corporation" (Press release). Business Wire. January 19, 2010.
  50. ↑ "BB&T Insurance Services to acquire Atlantic Risk Management" (Press release). PR Newswire. September 27, 2011.
  51. ↑ "BB&T to acquire California insurance agency, Precept" (Press release). PR Newswire. November 3, 2011.
  52. ↑ Rothacker, Rick (July 31, 2012). "BB&T to close BankAtlantic deal after receiving Fed OK". Reuters.
  53. ↑ "BB&T adds flood insurance to its online offerings" (Press release). PR Newswire. June 27, 2012.
  54. ↑ Craver, Richard (December 18, 2013). "BB&T acquires 21 Citigroup branches in Texas". Winston-Salem Journal.
  55. ↑ Campbell, Dakin; Dexheimer, Elizabeth (September 3, 2014). "BB&T buying 41 branches in Texas from Citigroup". Fort Worth Star-Telegram. Bloomberg News.
  56. ↑ "BB&T completes The Bank of Kentucky acquisition" (Press release). PR Newswire. June 22, 2015.
  57. ↑ "BB&T closes Susquehanna Bancshares acquisition" (Press release). PR Newswire. August 3, 2015. Archived from the original on October 18, 2017. Retrieved October 18, 2017.
  58. ↑ "BB&T closes on Swett & Crawford acquisition" (Press release). PR Newswire. April 1, 2016.
  59. ↑ "BB&T closes National Penn acquisition" (Press release). PR Newswire. April 4, 2016.
  60. ↑ Craver, Richard (October 18, 2018). "The Briefcase: BB&T consolidating operations in Whiteville". Winston-Salem Journal.
  61. ↑ Our account a History of BB&T. BB&T. 2012. pp. 117–118.
  62. ↑ Our account a History of BB&T. BB&T. 2012. pp. 141–142.
  63. ↑ "BB&T Insurance acquires Maitland firm". American City Business Journals. February 29, 2008.
  64. ↑ "BB&T to buy UnionBanc Insurance Services". American City Business Journals. April 24, 2008.
  65. ↑ "BB&T Insurance buys Oswald Trippe". American City Business Journals. November 3, 2009.
  66. ↑ "BB&T Insurance Services to acquire California agency" (Press release). PR Newswire. September 22, 2011.
  67. ↑ "BB&T Completes $570M Acquisition of Crump Insurance Units". InsuranceJournal. April 3, 2012. Retrieved May 28, 2021.
  68. ↑ "BB&T Insurance Services to acquire Woodbury & Co" (Press release). PR Newswire. March 27, 2014.
  69. ↑ "McGriff, Seibels & Williams to acquire Caledonian Insurance Group" (Press release). PR Newswire. April 2, 2014.
  70. ↑ "CRC Insurance Services to acquire strategic assets of Napco, LLC" (Press release). PR Newswire. April 2, 2015.
  71. ↑ "BB&T Insurance completes ownership increase in leading managing general underwriter and the divestiture of insurance company" (Press release). PR Newswire. June 1, 2015.
  72. 1 2 "BB&T Insurance to Acquire Regions Insurance Group". Insurance Journal. April 6, 2018. Retrieved May 28, 2021.
  73. 1 2 Moffet, Margaret (July 5, 2018). "BB&T Insurance to Acquire Regions Insurance Group". Philadelphia Business Journal. Retrieved May 28, 2021.
  74. ↑ Craver, Richard (February 11, 2019). "New name for BB&T-SunTrust may help deliver new identity to customers, marketplace". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  75. ↑ "BB&T and Suntrust to combine in an all-stock merger of $66 billion". CNBC. Reuters. February 7, 2019. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  76. ↑ Craver, Richard (February 10, 2019). "BB&T headquarters move to Charlotte stings but silver lining could be more local jobs". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  77. ↑ Allison Prang (June 12, 2019). "Truist Financial Is New Name for Combined BB&T, SunTrust". The Wall Street Journal. Archived from the original on January 20, 2022. Retrieved October 22, 2021.
  78. 1 2 Trubey, J. Scott (June 19, 2019). "SunTrust and BB&T sued by N.C. credit union over 'Truist' name". Atlanta Journal-Constitution. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  79. ↑ Streeter, Bill (June 18, 2019). "Truist Bank: Colossal Rebranding Misstep? Or Long-Term Winner?". The Financial Brand. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  80. ↑ Sheetz, Michael (June 13, 2019). "New name for BB&T-SunTrust bank lampooned: 'You could put this on a brand of toothpaste'". CNBC. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  81. ↑ Craver, Richard (August 11, 2020). "Truliant, Truist trademark lawsuit is closed". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  82. ↑ Craver, Richard (December 7, 2019). "Truist debuts with high expectations of low transition impact on BB&T, SunTrust customers". Winston-Salem Journal. Archived from the original on January 20, 2022. Retrieved October 22, 2021.
  83. ↑ Craver, Richard (December 9, 2019). "Truist CEO: Most customers won't see any account changes". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  84. ↑ Danielle Chemtob (December 9, 2019). "BB&T, SunTrust finish merger to become Truist in 'seamless' change. Here's what's next". The Charlotte Observer. Archived from the original on April 16, 2021. Retrieved October 22, 2021.
  85. ↑ Hudson, Caroline (April 15, 2021). "Truist Financial execs on latest progress in post-merger integration". Charlotte Business Journal. Archived from the original on April 15, 2021. Retrieved May 28, 2021.
  86. ↑ Chemtob, Danielle; Weinstein, Austin (December 11, 2019). "Truist buys uptown tower for record $455 million as bank builds Charlotte presence". The Charlotte Observer. Archived from the original on December 16, 2019. Retrieved December 12, 2019.
  87. ↑ Craver, Richard (December 11, 2019). "Truist takes little time to buy Charlotte headquarters building, rename it Truist Center". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  88. ↑ Craver, Richard (April 2, 2020). "Truist completes $455.5M purchase of Charlotte HQ; bank delays new branding unveilings". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  89. ↑ Craver, Richard (January 13, 2020). "What will Truist look like? Bank unveils its new logo and color scheme". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  90. ↑ Weinstein, Austin (December 7, 2020). "Truist put its name on its new HQ. The building's architect called it vandalism". The Charlotte Observer. Archived from the original on May 7, 2022. Retrieved December 8, 2020.
  91. ↑ "Truist Financial Corp. launches nonprofit foundation". www.bizjournals.com. Archived from the original on April 16, 2021. Retrieved March 5, 2020.
  92. ↑ Craver, Richard (March 5, 2020). "Truist moving offices out of former BB&T headquarters, will keep branch location there". Winston-Salem Journal. Archived from the original on October 22, 2021. Retrieved October 22, 2021.
  93. ↑ "Apology for bank's ties to slavery comes from Truist's top executive". Winston-Salem Journal. Retrieved May 23, 2022.
  94. ↑ "Truist apologizes for links to slavery. 'I will do everything I can to make it better,' CEO says". The Charlotte Observer. Retrieved May 23, 2022.
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