About the Company
Founded in 1872, Truist Financial Corporation is a bank holding company in America. It was established after a merger between SunTrust Banks and Branch Banking and Trust Company. The company operates in 2049 branches across 15 states in America. With its headquarters in Charlotte, New Carolina, the company offers consumers with commercial banking services, asset management, securities brokerage, insurance products, mortgage, and other services. This company, over the years, has been part of 106 acquisitions and mergers. It also made around 43 deals since its purchase of the Southern National Bank in 1995.
Branch and Hadley merchant bank was founded by Thomas Jefferson Branch and Alpheus Branch in 1872. They established the company in Wilson, North Carolina, which was their hometown. After several transactions, Branch was able to buy shares owned by Hadley in 1887. In 1995, there was a merger with Southern National Bank, which was based in North Carolina’s eastern part. This merger provided this company with 437 offices in more than 200 cities, including Virginia and Carolina. United Carolina Bank was taken over by the Southern National Bank in 1997, another financial institution based in North Carolina for $985 million. The company’s former CEO noted that this merger would prevent takeovers by banks from outside the state. This bank continued expanding throughout the 1990s. The company purchased Fidelity Financial Bankshares, Maryland Federal Bancorp, and First Financial of Petersburg, Md. The company would go on to expand into West Virginia and Georgia. In 2000, the company purchased One Valley Bancorp. This bank was the result of several community banks coming together to form a single financial institution. Truist Financial Corporation also acquired AREA Bancshares Corporation, Owensboro, and MidAmerica Bancorp, Louisville.
The company ranked 46th in America’s Best Banks 2020 and 88th in Best Employers for Veterans 2020. It also earned the 163rd rank in the Global 2000 2020list. The company also ranked at 91st on the list of America’s Largest Public Companies in 2018. Truist Financial Corporation shares are traded at the New York Stock Exchange under the ticker symbol “TFC.;
|Truist Financial Corp