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BB&T and SunTrust Merging 6 largest bank

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Established Contributor

Re: Suntrust & BBT Merger

For all their talk about becoming a premier bank, it seems this merger is just creating a larger regional bank.











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Message 21 of 42
Super Contributor

BB&T Approval Train! SunTrust Set Up?

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:

http://investors.suntrust.com/news/news-details/2019/BBT-and-SunTrust-to-Combine-in-Merger-of-Equals...





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 22 of 42
Valued Contributor

Truist Bank

It's a new BANK!!!

 

j/k.... this is what's happening between ST/BBT in their merger.  

 

https://www.journalnow.com/business/what-s-bb-t-s-new-name-truist/article_f6708223-05e6-5326-a3d4-94...

 

"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.

500K+ TCL / 800+ FCOs
Message 23 of 42
Mega Contributor

Re: Truist Bank


@Obscure-Expert wrote:

It's a new BANK!!!

 

j/k.... this is what's happening between ST/BBT in their merger.  

 

https://www.journalnow.com/business/what-s-bb-t-s-new-name-truist/article_f6708223-05e6-5326-a3d4-94...

 

"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....

Message 24 of 42
Super Contributor

BB&T/SunTrust become..Truist?

Who thought of this name? Truist Bank? Got the e-mail this am.

In February, we announced that BB&T and SunTrust will come together in a merger of equals, combining two mission- and purpose-driven companies to redefine the client experience and create meaningful change in our communities.

Since then, we’ve talked to many people – clients like you, our associates and teammates, and many others – about what they want from this new company. All of the valuable feedback helped lead us to the name we’re sharing with you today.

We are proud to announce our new name will be Truist.

A Bank Built for the Future

Truist will be true to our legacy as BB&T and SunTrust – building on the trust and transparency you’ve come to expect.

Truist will also stand for better – better experiences, better partnerships, better technology and creating a better future for our clients and our communities.

What This Means for You

While we hope you’re as excited about Truist as we are, we also want you to know there won’t be any immediate changes. We’re expecting the merger of equals to be completed later this year, pending shareholder and regulatory approval and other customary closing conditions, and that’s when BB&T and SunTrust will become one company. For now, we’ll continue to serve you separately at your local BB&T and SunTrust bank branch, on the websites and mobile apps you currently use, and through your relationship manager. When we fully transition over to Truist, you can be assured we’ll provide plenty of notice and guide you through every step. Our goal is to make your transition as simple and seamless as possible.

If you have any questions, please visit ThePremierFinancialInstitution.com/brand-story or call us at 800‑BANK‑BBT (800‑226‑5228).

We thank you for choosing BB&T and SunTrust and hope you share our optimism for what is ahead.

Sincerely,

 Kelly S. King Chairman and CEO, BB&T Corporation

Kelly S. King
Chairman and CEO, BB&T Corporation

 William H. Rogers, Jr. Chairman and CEO, SunTrust Banks, Inc.

William H. Rogers, Jr.
Chairman and CEO, SunTrust Banks, Inc.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 25 of 42
Established Contributor

Re: BB&T/SunTrust become..Truist?

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.

Message 26 of 42
Established Contributor

Re: BB&T/SunTrust become..Truist?

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.











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Message 27 of 42
Senior Contributor

Re: BB&T/SunTrust become..Truist?

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. 

Message 28 of 42
Community Leader
Senior Contributor

Re: BB&T/SunTrust become..Truist?

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 😉

EXP 763 TU 793 EQ 734
Message 29 of 42
Senior Contributor

Re: BB&T/SunTrust become..Truist?

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).


EQ: 795 | EX: 785 | TU: 783 | Accounts: 2/6 6/12 10/24
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Message 30 of 42
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