Who is the owner of Truist Bank?

Truist Bank is a financial institution created in 2020 through the merger of SunTrust Bank and BB&T Bank. The CEO and Chairman of Truist Bank is Kelly S. King. King has been the Chairman and CEO of BB&T Corporation, one of the two merged banks, since 2009.

As the leader of Truist Bank, King has a deep understanding of how to successfully combine the two banks and how to create a positive and efficient banking experience for the customers and employees of Truist Bank.

With his leadership, Truist Bank is paving the way for a new era in banking and is committed to connecting financial dreams and community aspirations.

Who is Truist Bank owned by?

Truist Bank is a major banking firm that is owned by two of America’s largest banks—BB&T and SunTrust. BB&T, based in Winston-Salem, North Carolina, and SunTrust, based in Atlanta, Georgia, formally merged in December of 2019.

BB&T and SunTrust first announced the merger in June of 2018, citing the competitive advantages a single, purpose-driven financial firm could bring to the marketplace. Along with the merger came a new name, Truist—a combination of the two former banks’ names, intended to reflect the companies’ shared commitment to “transforming the future of financial services.

”.

The new banks’ mission is to help individuals and businesses achieve financial success by providing financial services solutions, advice and resources. Truist is currently operating as the sixth largest banking corporation in the United States, and its 9 million customers nationwide have access to approximately 1,400 branches across 15 states, as well as 24-hour digital banking solutions.

As the new Truist Bank continues to grow, the BB&T and SunTrust legacy brands will remain as part of the larger Truist Bank brand. Together, the banks hope to create a comprehensive and integrated financial services system that delivers quality customer service and innovative financial solutions.

Is Truist insured by the FDIC?

Yes, Truist is insured by the FDIC. This means that all of the deposits you make at Truist are insured up to the FDIC limit, which is currently set at $250,000 per depositor, per bank. This insurance applies to both checking and savings accounts, money market deposit accounts, time deposits, and other deposit products.

In addition, certain other accounts, such as certain retirement accounts, are also covered. As long as Truist is a member of the FDIC, your deposits are insured up to the limit. This applies even if you have multiple accounts at the same bank, you will receive up to $250,000 of coverage in total.

You can be comforted knowing that your deposits are safe and secure at Truist.

Is Truist legitimate?

Yes, Truist is a legitimate financial services holding company that provides a range of banking and other financial services to its customers. It is backed by two well-known and respected players in the financial industry – BB&T and SunTrust Banks – who have combined forces to offer a comprehensive suite of banking, investing, and other financial products and services.

The entity was formed in 2020 and is one of the top 15 largest banks in the US, as well as the 6th largest financial services provider in the country. Customer deposits are insured up to legal limits by the Federal Deposit Insurance Corporation (FDIC) and their online services are secure and reliable.

Additionally, their customer service department helps customers handle their accounts and offer assistance with any issues they may have. Thus, Truist is legitimate and provides quality financial services.

What banks turned into Truist?

Truist Financial Corporation is a result of the merger of SunTrust Banks, Inc. and BB&T Corporation in December of 2019. SunTrust Banks, Inc. was a bank holding company that offered various banking and other financial services, such as consumer banking, private banking, and trust services.

BB&T Corporation was also a bank holding company offering a range of banking and financial services, including consumer banking, commercial banking, investments, and insurance. Both companies had a long history, with SunTrust having been founded in 1891 in Atlanta and BB&T having been founded in 1872 in Wilson, North Carolina.

The merger of these two banks resulted in the creation of Truist Financial Corporation, which operates approximately 4,100 branches across the United States and employs approximately 44,000 people.

Did Truist bank take over another bank?

Yes, Truist Bank is the result of the merger between BB&T and SunTrust, which began in February 2019. The two banks had long histories of providing banking services to their respective communities. BB&T was founded in 1872 and was one of the largest banks in the United States, while SunTrust was founded in 1891 and was one of the largest banks in the Southeast.

The two banks merged to create a larger, stronger institution with more financial offerings and resources to help their customers. The merger was a $66 billion deal, and is the sixth largest bank merger in U.

S. history. The combination of BB&T and SunTrust created Truist Bank and a trust company of the same name, while the two banks’ former brand names remain in use as distinct banking divisions under the Truist brand.

This merger gave Truist the ability to serve more than 10 million households, making it the sixth largest bank in the United States.

Why did they change the name to Truist?

Truist was created by the merger of two leading financial services firms, SunTrust and BB&T. The two organizations have a long history of success and are well-known for delivering high-quality customer service to the clients they serve.

The merger brings together the complementary strengths of the two companies and promises even greater opportunities for customers and investors. The name Truist was carefully chosen to represent the mission of the newly combined organization: To build better lives for our clients, their families, and the communities in which they live.

The name Truist is derived from the words “Trust” and “True” and embodies the values of the bank, its commitment to helping customers and communities flourish, and its ambition to help its customers reach their financial goals.

In a world where trust is essential to success, Truist is an affirmatively trust-based organization that will take an active role in protecting its customers’ privacy and security.

Who is president of Truist?

Brian T. Moynihan is president of Truist. Moynihan was named president and CEO of Truist following the merger of SunTrust and BB&T in 2019. Prior to joining Truist, he was Chairman and CEO of Bank of America and had held a number of leadership roles at the company since 2004.

With more than 40 years of experience in the banking and financial services industry, Moynihan is committed to advancing Truist’s dual mission as a company: servicing clients and creating shareholder value.

He has laid out a clear strategy for Truist and is focused on creating long-term, sustainable value for all stakeholders. Under his leadership, Truist has established itself as a leader in corporate social responsibility and is recognized for its commitment to responsible business practices.

How much does the CEO of Truist make?

The amount that the CEO of Truist, Kelly King, makes is not publicly available as of 2021. Truist is a large financial services holding company formed from the merger of BB&T and SunTrust Banks in 2020.

According to estimates from executive compensation research firms, King’s total compensation for 2021 was likely in the range of $18 million to $20 million. King’s most recent publicly-available compensation was for the year 2019, when he earned $20.

4 million, including a base salary of $1. 85 million, other compensation of $10. 34 million, and stock awards of $8. 17 million. Many of the reported figures are estimates and do not reflect the actual payment received by King at the time.

How do I contact CEO of SunTrust?

The most direct way to contact the current CEO of SunTrust is to contact the company’s main customer service phone number at 800-786-8787. You can ask the customer service representative to connect you with the CEO’s office or you can ask for the CEO’s direct contact information.

Alternatively, you can also contact the CEO’s office by mail or email. Their mailing address is SunTrust Corporate Office, 303 Peachtree Street, NE Atlanta, GA 30308-3246, and the email address for their investor relations department is investor.

relations@suntrust. com. Additionally, you can reach out to the company’s investors relations via their website at https://investor. suntrust. com/investor-relations/contact-us.

Why is the bank called Truist?

Truist was created in December 2019 through the merger of two well-known financial institutions — SunTrust Bank and BB&T Bank. The name Truist was chosen to represent the companies’ shared commitment to true partnerships and trust with customers, communities, and each other.

The name is also a nod to their shared history, which dates back over 150 years.

The organizations have adopted the slogan “Life’s better when we’re connected” to emphasize their commitment to fostering meaningful relationships with customers, beyond just offering financial products and services.

They hope to do this by creating long-term customer relationships and community outreach programs.

The new bank’s logo is a sun, which serves as a reminder of its relationship with the SunTrust name, while also symbolizing the bank’s promise to bring light and to give back to the community.

Ultimately, Truist is an innovative new bank that believes in providing customer-focused solutions and building strong relationships that can last over time. That is why the name Truist was chosen — to reflect the shared values of customer trust, true partnerships and giving back to the community.

When was Truist founded?

Truist was founded on January 1, 2020, when SunTrust Banks, Inc. and BB&T Corporation officially combined to create the sixth-largest US bank holding company with more than $500 billion in assets. The merger created one of the largest financial services companies in the United States with more than 10 million households and businesses.

It was the culmination of a long, collaborative journey that began in 2017 when both companies announced their intent to merge. The historic merger resulted in Truist Financial Corporation and its principal subsidiary, Truist Bank, becoming the largest bank headquartered in the Carolinas with a significantly expanded national footprint.

What company did Truist buyout?

Truist Financial Corporation, one of the nation’s largest financial services organizations, was formed in December 2019 when BB&T Corporation and SunTrust Banks, Inc. merged. With a combined history of more than 225 years of financial stewardship and experience, Truist is comprised of a diverse suite of financial businesses and provides clients with leading consumer banking and digital services, research and insights, asset and wealth management solutions, investment and insurance services, corporate and commercial banking capabilities, as well as comprehensive financial solutions for a range of industries.

With a network of more than 2,000 locations and associates located in key business districts across the United States, Truist has an expansive presence in the Southeast, Midwest, Mid-Atlantic, and Southwest regions.

How big is Truist?

Truist is one of the largest banks in the United States. It is currently the sixth largest bank by deposits and manages over $438 billion in assets. It serves over 10 million households and businesses, operates 2,000 financial centers, and has over 25,000 ATMs throughout its footprint in the southeast, Texas and the Mid-Atlantic region.

In addition, Truist has over 50,000 employees, providing customers with an extensive network of knowledgeable, dedicated professionals available to help them manage their financial needs. Truist is also one of the top employers in the nation and has been recognized for its commitment to diversity and inclusion.

Is Truist a Fortune 500 company?

Yes, Truist is a Fortune 500 company. It is the nation’s sixth largest banking organization with total assets of $483 billion as of June 2020. Truist was created in December 2019 through the merger of Truist Financial Corporation and SunTrust Banks.

The company provides consumer and commercial banking, mortgage banking, asset management, and capital market services. It also provides other banking services such as trust and investments, mortgage banking, and consumer finance.

Truist has a customer base of more than 10 million households and 40,000 commercial clients. The company has a presence in 15 states in the mid-Atlantic, Southeast, and Southwest regions, making it one of the largest banks in the country.

Truist is listed on the Fortune 500 list for 2020 coming in at #268.