Truist Financial, the result of the historic merger of equals between BB&T and SunTrust, named 24 regional presidents who will champion its community banking model in many high-growth markets in the country.
BB&T Chairman and CEO Kelly S. King and SunTrust chairman and CEO William H. Rogers, Jr., spoke at a joint public meeting of the Federal Reserve Board and the Federal Deposit Insurance Corporation on the proposed merger of equals between BB&T and SunTrust Banks.
The Board of Governors of the Federal Reserve System has terminated its Cease and Desist Order with BB&T related to BB&T’s anti-money laundering (AML) program. No money laundering activity was identified and no financial penalty was levied in relation to this order.
The Federal Reserve Board and the FDIC will jointly hold two public meetings on the proposed merger of BB&T and SunTrust Banks.
SunTrust Bank and BB&T signed a definitive agreement to combine in an all-stock merger of equals valued at approximately $66 billion. The combined company will be the sixth-largest U.S. bank based on assets and deposits.
BB&T refinanced Synalloy’s asset-based revolving line of credit, increasing the line from $80 million to $100 million and creating a new $20 million five-year term loan.
BB&T named banking veteran and Executive Vice President Mark Grover to lead its Corporate Banking Energy team. He succeeds Jeff Forbis, who is retiring after starting and leading the group for more than seven years.
BB&T Corporation announced Senior Executive Vice President Dontá Wilson has been named chief digital and client experience officer.