Truist Financial Corporation history, profile and corporate video
Truist Financial Corporation is an American bank holding company headquartered in North Carolina, U.S. It was formed in 2019 through the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.
Along its history, it has been made more than 100 mergers and acquisitions.
BB&T (Branch Banking and Trust Company)
The company’s origins date back to 1872 when Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank.
In 1887, Branch bought out Hadley’s shares and renamed the company Branch and Company, Bankers.
After many name changes, the company settled on the name Branch Banking and Trust Company.
In 1995, the bank merged with Southern National Bank, a merger that would be called BB&T.
It is on the list of largest banks in the United States by assets. Its subsidiary, McGriff Insurance Services (formerly known as BB&T Insurance Services), was one of the largest insurance brokers in the world.
In 2019, BB&T acquired SunTrust Banks to create a new merged company called Truist Financial Corporation.
SunTrust Banks, Inc.
It was formed in 1985 when the Trust Company of Georgia merged with SunBanks.
Trust Company of Georgia
Trust Company of Georgia is the bank’s most direct corporate parent and it was established on September 21, 1891, as the Commercial Travelers’ Savings Bank of Atlanta.
The company’s origins date back to its earliest predecessor, which was founded in 1911 as The People’s National Bank in Orlando, Florida.
Through its various subsidiaries, the company provides consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
With more than 59 000 employees, Truist Financial Corporation is considered one of the largest banks in the United States by assets, and its subsidiary McGriff Insurance Services (formerly known as BB&T Insurance Services) was one of the largest insurance brokers in the world. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and ”www.truist.com”.
**Video published on YouTube by “Truist“.