SunTrust Bank Announces Merger With BBT Bank
I received this in my email today.
Dear Valued Client,
We are excited to inform you that SunTrust has announced that it is combining in a merger-of-equals with BB&T to create one of the premier financial institutions in the country. This combination, built on our two companies’ strengths and proud histories, will create the sixth-largest U.S. bank by deposits with top market share position in extremely attractive markets.
This highly complementary combination will enable us to create a distinctive client experience enhanced by increased capacity for investments in transformative technology. Together, we will be better positioned to serve you, delivering the best of both institutions’ talents, systems and processes.
Our two organizations share a purpose-driven culture that is driven by our community banking and client-first mentality. This shared view has powered our success for a combined 275 years and will continue to guide our combined company for centuries to come. We encourage you to visit our transaction website, thepremierfinancialinstitution.com , to learn more about why we believe this is such a compelling combination and how it benefits you.
The proposed merger is anticipated to close in the fourth quarter of 2019. Until then, it remains business as usual at SunTrust and you can continue to expect the same level of excellent service from the same points of contact on our team.
We value and appreciate your business and look forward to continuing our relationship well into the future.
Thank you for your continued support and loyalty.
Chairman & CEO