In February two large banking firms announced that SunTrust and BB&T 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 their communities.

BBT has a branch located on Russellville’s Carrico Park Square. It is the latest version of long-time occupant of that stately building, the Southern Deposit Bank. Over the decades, several civic leaders were in management of Southern Deposit.

The following joint statement has been released by the CEOs of the merging banks, including the new name:

“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 SunTrust and BB&T – 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
We also want you to know there won’t be any immediate changes. We’re expecting the merger of equals to be approved later this year, pending shareholder and regulatory approval, and that’s when SunTrust and BB&T will become one company. For now, we’ll continue to serve you separately at your local SunTrust and BB&T 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. 

“To learn more, please visit https://www.thepremierfinancialinstitution.com/brand-story.”