SunTrust and BB&T announced a multi-billion dollar merger in February that created the nation’s sixth-largest bank. On Wednesday, the two companies, both based in the South, shared the name of the new combined company they intend to create: Truist.
The banks said Truist will serve more than 10 million households across the country and will be headquartered in Charlotte, North Carolina.
“With the merger of equals, our goal is to create a bold, transformative organization that delivers a smarter and easier client experience through technology and human connection,” said BB&T Chairman and Chief Executive Officer Kelly S. King, who will serve as the Chairman and CEO of the combined company.
SunTrust Banks Inc. released a video on Twitter announcing the new name on Wednesday:
“True to the heritage of both companies, Truist will reflect what we stand for – a shared belief in building a better future for our clients and communities,” King continued.