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For all their talk about becoming a premier bank, it seems this merger is just creating a larger regional bank.
As you all have seen. BB&T is on a roll with all the approvals lately. Some getting SP approvals. It seems since it's getting real close to the BB&T/SunTrust Merger. I'm starting to believe they are setting this all up for (1) June when the new name will be announced. (2) Then the merger will be done 4th quarter this year. There's been some flak from from the Fed Reserve Bank in Charlotte. But it will go thru it seems. As a BB&T card holder and SunTrust is my bank for check/savings/credit. I'm guessing the 2 cards will have the same new bank name.
The CEO's from both banks stated "The ability to invest for the future is one of the primary factors driving this merger of equals. It's about creating the kinds of products, services and experiences that not only meet the needs of our clients, but exceed their expectations," Other experts are saying they want to give US Bank a run for their money since they will be the 6th largest bank once its done right behind US Bank.
So basically this could be a sign they are trying to build up their customer base IMO with all these approvals? BB&T covers more states than SunTrust. But once they do finalize the merge. I wonder if the same approval rates will stick. Then they could be a true FOTM come 4th quarter once its all signed and sealed. Thoughts?
SunTrust's explains what this will all mean in the end:
It's a new BANK!!!
j/k.... this is what's happening between ST/BBT in their merger.
"It signifies 'true' to our legacies," Wilson said. "It signifies 'trust' in transparency and honesty. It signifies 'stand for better,' as in technology, customer experience, partnerships and the future."
I hope they can actually make that happen.. as it stands BBT doesn't do it very well.
@Anonymous wrote:It's a new BANK!!!
j/k.... this is what's happening between ST/BBT in their merger.
"It signifies 'true' to our legacies," Wilson said. "It signifies 'trust' in transparency and honesty. It signifies 'stand for better,' as in technology, customer experience, partnerships and the future."
I hope they can actually make that happen.. as it stands BBT doesn't do it very well.
These branding names are always a joy (and cost um, a lot). At the merger of GTE and Bell Atlantic to form Verizon, the CEOs explained the name combines "truth" from Veritas and horizon (meaning limited vision, oh no, endless possibilities!) Apparently now:The company says its “veritas values” include integrity and respect, while its “horizon values” include imagination and passion.
Which I'm sure is obvious for those of you who are Verizon customers....
Who thought of this name? Truist Bank? Got the e-mail this am.
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Yeah, it landed with a thud. Kelly's a good guy and I'm sure it will recover since at the end of the day all that matters is their rates and UW.
The new name is a dud. It always amazes me how much money gets spent on marketing that spits out a brand name thats DOA.
Personally I liked BB&T and Trust Co for names much better than new. The new bank will be a very large super regional. Suntrust for years has been the place to go for loans if either 1) Fico score 750 2) or income over $250,000. House loans with less than great credit forget it.
BB&T used to be a go to for "hard working middle class familes" however after 2009 however they pulled back. They do FHA and Fannie Mae Quality loans and resell them, none here are kept in house.
I think the new name is rather boring and falls flat.
Geez I think we here at MF could have come up with a much better name 😉
What gets me about the name is that BB&T is headquartered here in the Carolinas, they know how badly their name is going to roll off of the local tongue.
(also, as a complete idiot, it never occurred to me that BB&T ballpark might be named after the headquartered local bank... please don't make us have to call it the Truist ballpark... please don't make me have to call it the Truist ballpark).