suntrust and truist merger

In December, BB&T Corp. and SunTrust Banks Inc. announced they completed the merger that formed Truist Financial Corp. and Atlanta-based SunTrust Banks Inc. have gotten one big federal go-ahead to merge into Truist Bank — provided that they divest 30 SunTrust. Truist Financial Corp., the new brand of the merged SunTrust Banks Inc. and BB&T Corp., announced today that the merger was completed as of.

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Do you bank with BB&T? Here's why you won't have access to your account until Sunday

If you bank with BB&T and need to set up an online transaction, withdraw cash, pay a bill or hit up a local branch, plan to do it Friday.

The Charlotte, North Carolina-based bank, now known as Truist after its merger with SunTrust, is shutting down its online banking system and branch computers over part of Columbus Day weekend to update its computer systems.

In an online FAQ, BB&T said customers will not be able to make mobile deposits, transfer funds, access online bill pay services or set up a new Zelle payment through the website or mobile app during the planned outage.

"We expect all systems including mobile app, online banking, BB&T ATMs, and the Truist Contact Center to be back up and running by Sunday, Oct. 10," the bank estimated.

Transactions that have already been scheduled will post to customer accounts on Tuesday. Bill payments that were set to be paid over the weekend will process least one day before the due date.

Branches will be unable to process transactions and ATMs will be offline during the outage. BB&T customers can use SunTrust ATM machines without paying a fee. Should they access ATMs outside the BB&T network during the outage, the fee for both banks will be refunded.

However, BB&T customers cannot conduct any other transactions through SunTrust branches.

Customers can continue using their BB&T credit and debit cards as normal. Transactions will not post until Tuesday due to the Columbus Day holiday, however.

Branches will also be closed Monday due to the holiday.

The banks serve the the Mid-Atlantic, South and Midwest regions.



SunTrust will close longtime downtown Hopewell office next year when merger is completed

The building opened in 1928 with SunTrust ancestor State Planters Bank and stayed through three name changes

HOPEWELL — SunTrust and BB&T will officially change their signage to Truist next February, two years after the two banking giants agreed to a merger. When that happens, SunTrust will move its longtime downtown Hopewell office to a BB&T location just a short distance away.

In a letter mailed to SunTrust customers last week, the bank said it would shut down its office at the corner of Main and Poythress streets Feb. 18. Four days later, on Feb. 22, the new office will open at the BB&T location at 106 N. 2nd Ave. under the new Truist sign.

A SunTrust official wrote in the letter that current account service will not be affected by the move.

When the move happens, it will be the first time since the building was opened in 1928 that a bank has not had a presence there. State Planters Bank was first located then, and stayed there through several name changes — United Virginia Bank in 1969, then Crestar in 1987 and finally SunTrust in 1998.

In addition to SunTrust, the building is home to Ford Agency insurance and two local retailers, Gardener's Gate and Little Shops on Main. At one time, the Hopewell post office was also in the building.

If you bank at the Main Street location and have additional questions about the move, call (804) 446-9827.

The Hopewell location is not the first in the area to shut down. Earlier this year, SunTrust closed its branch at Bermuda Square in Chester and moved across Jefferson Davis Highway to a larger BB&T branch office.

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Sign goes up: Hopewell's newest historic marker notes colonial 'site of cultural interaction' at Kippax

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Veteran journalist Bill Atkinson (he/him/his) is the regional daily news coach for the USA TODAY Network Southeast Region's Unified Central group, which includes Virginia, West Virginia and portions of North Carolina. He is based at The Progress-Index in Petersburg, Virginia. Contact Bill at, and follow him on Twitter at @BAtkinson_PI.



There’s a new bank among the top ten biggest banks in the country, and its name is Truist.

BB&T Corp. and SunTrust Banks are now one company after the banks announced Monday they completed the biggest bank merger since the financial crisis.

The combined company, which is the sixth-largest bank in the U.S., will operate as Truist Bank.

“This is a historic moment for Truist – a financial services organization created from two companies with shared values and a deep commitment to building a better future for our clients and communities,” said Truist Chairman and CEO Kelly King.

“The completion of this merger of equals is a tremendous achievement and a testament to the thousands of Truist teammates who have diligently worked to ensure its timely conclusion,” King added.

The banks first announced the $66 billion “merger of equals” in February, later stating that they planned to operate as Truist.

The companies also announced the opening of a new headquarters in Charlotte, North Carolina, which will house 2,000 of the combined company’s executive team members who will be relocated over the next several years.

Last month, the banks cleared a regulatory hurdle when the Department of Justice approved the banks’ merger, but ordered the banks to divest 28 branches to address antitrust concerns raised by the merger.

At that point, all that stood in the merger’s way was approval by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corp.

Those bodies, along with the Georgia Department of Bankingand Finance and the North Carolina Commissioner of Banks, approved the merger late last month, clearing the way for its completion.

“With Truist, we’re creating a new company with a bold, transformative vision to increase investment in innovative technology and create a distinctive teammate and client experience,” said Truist President and Chief Operating Officer Bill Rogers. “We have much work ahead of us, but we’re well-positioned to create meaningful change for the clients we serve and the communities where we live and work.”

According to the companies, Truist Bank will serve “approximately 10 million consumer households.”

Truist stated Monday that for now, clients can continue to use through their respective BB&T or SunTrust branches, websites, mobile apps, financial advisors and relationship managers for their banking needs.

The companies stated that the “transition to the full Truist experience” will happen over the next two years.


Board of Governors of the Federal Reserve System

The Federal Reserve Board on Tuesday met and approved the application by BB&T Corporation of Winston-Salem, North Carolina, to merge with SunTrust Banks, Inc. of Atlanta, Georgia.

The Board evaluated the application under the factors it is required to consider under the Bank Holding Company Act, including the financial and managerial resources of the companies, the convenience and needs of the communities to be served by the combined organization, and the competitive and financial stability impacts of the proposal. The Board's approval is conditioned on several actions, including that BB&T must divest 30 branches and more than $2.4 billion in deposits to mitigate the competitive effects of the merger.

Also on Tuesday, the Board issued a consent order against SunTrust for unfair and deceptive practices. As detailed in the order, SunTrust made misleading or inaccurate statements between 2013 and 2017 to certain business customers about the operation and billing for certain add-on products. SunTrust previously terminated these practices and, since 2016, has repaid approximately $8.8 million in fees to customers. As a condition of the merger, BB&T has committed that the resulting bank will comply with the enforcement action, including implementing procedures to verify the refunds and providing additional refunds, if required.

Lastly, the Board announced that it will not object to the updated capital plan submitted by BB&T to reflect the merger.

The merger order and enforcement action order are attached.

For media inquiries, call 202-452-2955.


SunTrust Bank, Now Truist, Review

Editor’s Note: In December 2019, BB&T and SunTrust completed a merger of equals to become Truist Bank, headquartered in Charlotte, North Carolina. As described below in About SunTrust, Now Truist, SunTrust is still operating under its own name until early 2022.

SunTrust has been a Georgia-based home to a host of banking and financial products and services for consumers, small businesses and corporate and commercial clients.

SunTrust mainly has branches in the Southeast, but its merger with BB&T to form Truist may expand its footprint. You can open an account online with SunTrust even if you don’t live in a state where it has a branch presence.

SunTrust’s product details, rates and fee information may vary by location. SunTrust has been headquartered in Atlanta, but is moving to Charlotte, North Carolina, under the merger. For the purposes of this review, we used a Charlotte ZIP code of 28202.

This review focuses on SunTrust Bank’s personal banking services. Account details and annual percentage yields (APYs) are accurate as of Nov. 11, 2021.

Account Basics


SunTrust Bank offers two checking accounts for consumers: Essential Checking and Advantage Checking. Below are the details of these accounts.

Essential Checking. Essential Checking is a basic checking account designed for everyday banking. A deposit of at least $100 is required to open this account. The account carries a monthly fee of $7, but that fee can be waived if you meet one of the following requirements:

  • Make 10 or more client-initiated transactions per statement
  • Receive $500 or more in total qualifying direct deposits
  • Maintain a $500 minimum daily collected balance
  • Open the account as a student, for which you’ll receive a waiver for five years

Other account perks include a starter pack of checks and a 10% loyalty bonus when you redeem rewards earned with a SunTrust Cash Rewards credit card for cash back to your checking account. This account also includes person-to-person electronic payment through Zelle.

There’s a $3 paper statement fee, which you can avoid by signing up for paperless online statements. The overdraft fee is steep—$36.

Advantage Checking. This account is an interest-bearing checking account with three tiers of benefits based on your account balance:

  • Advantage. This tier is for balances of $0 to $25,000. It comes with a 10% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($95 annual fee).
  • Advantage Choice. This tier is for balances between $25,000 and $100,000. It comes with a 25% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($75 annual fee).
  • Advantage Preferred. This tier is for balances above $100,000. It comes with a 50% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($25 annual fee).

Advantage Checking carries a $20 monthly maintenance fee, waived in of the following three ways:

  • Receive $3,000 in total monthly qualifying direct deposits
  • Maintain $10,000 total combined balances between linked deposit and investment accounts
  • Have a linked SunTrust small business checking account, lending account or credit card

This checking account currently pays 0.01% APY on all balances. Other perks with this account include a 100-pack of SunTrust customer checks, no-fee money orders and a $25 discount on any size safe deposit box. As with Essential Checking, there’s a $36 overdraft fee.


SunTrust Bank offers two primary savings accounts: Essential Savings and Youth Advantage Savings.

Essential Savings. Essential Savings is a basic savings account with no monthly fee and no minimum opening balance. You’ll need to maintain a minimum account balance of $0.01 to avoid closure, but, other than that, there are no account requirements. Current savings account interest rates aren’t available online.

With this account, you can track savings goals with balance alerts and make automatic transfers from a SunTrust checking account. There’s a $3 fee for paper statements, which you can avoid by signing up for online paperless statements.

Youth Advantage Savings. SunTrust also offers savings accounts for kids. Youth Advantage Savings is available in two variations:

  • Minor By. This version requires an adult co-owner and is meant to teach children and teens about managing money.
  • UTMA. This version is considered an irrevocable gift to a child that’s transferred to them when they reach the age of majority for their state. Account funds can only be used for the child’s benefit.

Youth Advantage Savings accounts carry no monthly fee until the child reaches the age of 18. If opened online, there is a $50 minimum opening deposit, but no requirement when opened in person at a SunTrust branch.

Money Market

SunTrust has one money market account available: Advantaged Money Market Savings. This account comes with limited check-writing privileges. You can open a money market account for $100. The account carries a $17 monthly maintenance fee, which can be waived each month if you make automatic transfers of at least $100 total or maintain a $10,000 minimum daily collected balance. Current money market account interest rates aren’t posted online.


SunTrust also carries Personal Certificates of Deposit (CDs). CDs can be a good way to maximize savings if you don’t need immediate access and are able to set aside funds for a specific period, but SunTrust’s CD rates are fairly low, especially compared to the best CD rates.

SunTrust offers four Personal Certificates of Deposit (CD), ranging from six months to 24 months, on its website. You can open these promotional CDs online. But there are numerous other terms available that range from seven days to 10 years, according to the bank’s website and Certificates of Deposit (CDs) Account Overview Guide. You must visit a branch or call the bank to learn more about those terms.

CDs require a $2,000 minimum deposit to open. Here’s an overview of SunTrust’s Personal Certificates of Deposit:

Other Accounts and Services

In addition to its personal deposit accounts, SunTrust Bank also offers the following financial products and services:

  • Credit cards
  • Auto loans
  • Auto refinancing
  • Recreational vehicle loans
  • Person lines of credit
  • Mortgage loans
  • Mortgage refinancing
  • Home Equity Lines of Credit (HELOCs)
  • Home improvement loans
  • Debt consolidation loans
  • Physician loans and line of credit
  • Business loans
  • Small business banking and lending
  • Investment accounts and services
  • Retirement accounts
  • Wealth management services
  • Corporate and commercial services

Access on the Go

SunTrust accounts are accessible online or through its mobile app. Within your online account, you can manage your accounts and access helpful features like online bill pay and e-statements.

SunTrust’s mobile app is available on the App Store (4.1 stars out of 5) and Google Play (4.2 stars out of 5). Through the app, customers can:

  • Manage accounts
  • Pay bills
  • Deposit checks
  • Send money via Zelle
  • Open an account
  • Access credit card and loan accounts

For in-person help, you can visit any of SunTrust’s physical branches located in 17 states and Washington D.C or over 2,000 SunTrust ATMs. You can also get help by calling SunTrust Bank customer support by phone at 800-786-8787 during business hours or using its online chat feature.


  • Low deposit requirements
  • Monthly maintenance fees are relatively easy to get waived
  • Full-service banking


  • Low interest rates on deposit accounts
  • High overdraft fees
  • Branches are located primarily in the southeastern U.S.

How SunTrust Bank Stacks Up

SunTrust still exists on its own for now but eventually will transition to Truist Bank. At this point, it’s not yet clear what that will look like in terms of products, services or interest rates.

Individuals in the southeastern U.S. looking for full-service banking are ideal customers for SunTrust Bank. You won’t earn competitive rates, but the bank offers plenty of in-person and online support, along with a full array of accounts and services to meet a host of banking needs. For more competitive rates, turn to the best online banks.

About SunTrust Bank, Now Truist

On Dec. 9, 2019, Winston-Salem, North Carolina-based BB&T (Branch Banking and Trust Company) and Atlanta-based SunTrust completed a merger of equals to become Truist Bank, the sixth largest U.S. bank based on assets, according to FDIC data. Truist is headquartered in Charlotte, North Carolina.

Since the merger was announced, BB&T and SunTrust had been operating under their separate names. Between late 2021 and early 2022, both banks will transition to the single Truist brand.

As of this writing in Nov. 2021, BB&T is already doing business as Truist. The website automatically redirects to Truist consumer products are now available both online and in BB&T branches. Current BB&T clients’ products are also transitioning to Truist.

According to Truist’s online merger guide, SunTrust’s transition to doing business under the Truist name is scheduled for early 2022. Due to this difference in timing, is still operating under its own name, identified as “SunTrust Now Truist.” Also in early 2022, SunTrust debit cards will become Truist debit cards and all bank signage will change from BB&T and SunTrust to Truist at branches and ATM locations.

Frequently Asked Questions (FAQs)

Is SunTrust Bank FDIC insured?

Yes, SunTrust Bank is insured by the FDIC (Federal Deposit Insurance Corporation) as Truist Bank (FDIC# 9846). All SunTrust Bank accounts are FDIC insured up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

What is required to open a SunTrust Bank account?

You can open a SunTrust Bank account in person at one of its physical branches or online. To open an account, you’ll need to provide personal information, like your name, address, contact information and a government-issued photo ID for identification purposes. A funding source is also required at the time of account opening.

How do I reach a live person at SunTrust Bank?

You can reach SunTrust Bank customer support by calling 800-786-8787 during business hours or using the bank’s online chat feature.

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