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Truist Financial

Truist Financial Corporation
Company typePublic
IndustryFinancial services
Predecessor
FoundedDecember 6, 2019 (2019-12-06) (as Truist)[1]
HeadquartersTruist Center[2],
Charlotte, North Carolina
,
U.S.
Number of locations
2,001 branches (2023)[3]
Area served
North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, New Jersey, Ohio, Pennsylvania, Washington, D.C.
Key people
Products
RevenueIncrease US$33.25 billion (2023)[3]
Increase US$−1.05 billion (2023)[3]
Total assetsDecrease US$535.3 billion (2023)[3]
Total equityDecrease US$59.25 billion (2023)[3]
Number of employees
50,832 (2023)
Divisions
  • Truist Bank[1]
  • Truist Securities[5]
  • Truist Insurance Holdings[6]
Websitetruist.com

Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina.[7] The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.[1][8][9] Its bank operates 2,781 branches in 15 states and Washington, D.C., offering consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.[3] It is on the list of largest banks in the United States by assets; as of August 2023, it is the 9th largest bank with $514 billion in assets.[10][11] As of January 2021, Truist Insurance Holdings is the seventh largest insurance broker in the world, with $2.27 billion in annual revenue.[12][6]

  1. ^ a b c Craver, Richard (December 7, 2019). "Truist debuts with high expectations of low transition impact on BB&T, SunTrust customers". Winston-Salem Journal.
  2. ^ "BB&T and SunTrust choose 'signature' uptown tower as headquarters for new bank". Charlotte Observer. Retrieved August 26, 2019.
  3. ^ a b c d e f "Truist Financial Corporation 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 27, 2024.
  4. ^ "Truist Financial execs on latest progress in post-merger integration". Charlotte Business Journal. April 15, 2021. Retrieved May 28, 2021.
  5. ^ Cite error: The named reference auto7 was invoked but never defined (see the help page).
  6. ^ a b "North Carolina-Based BB&T Rebrands as Truist Insurance Holdings". Insurance Journal. June 30, 2020. Retrieved May 28, 2021.
  7. ^ SEC. "Bb&t Corp 2019 Current Report 8-K". SEC.report. Archived from the original on November 18, 2022. Retrieved January 20, 2020.
  8. ^ Craver, Richard (February 9, 2019). "BB&T, SunTrust believe purchase experiences will lead to smooth merger". Winston-Salem Journal. Retrieved February 9, 2019.
  9. ^ Allison Prang (June 12, 2019). "Truist Financial Is New Name for Combined BB&T, SunTrust". The Wall Street Journal.
  10. ^ "Holding Companies with Assets Greater Than $10 Billion". Federal Financial Institutions Examination Council. May 18, 2022.
  11. ^ "PNC Completes Acquisition of BBVA USA". Yahoo Finance. June 1, 2021. Retrieved June 1, 2021.
  12. ^ Bonner, Marianne (July 13, 2017). "15 Largest Insurance Brokerages". The Balance.

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