CHARLOTTE, N.C. -- There's a new bank in town. Truist is the name of the new company created by the merger of BB&T and SunTrust.
- The bank's HQ will be the Hearst Tower in Uptown
- The merger is expected to save $1.6 billion in expenses
- There's no word yet on any potential layoffs or branch closures
Hearst Tower in Uptown will be the bank's new headquarters and an innovation and technology center will be built in the Queen City. The merger is expected to save $1.6 billion in expenses.
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The bank's website says clients will "gain access to more branches, more ATMs, and enhanced digital innovations that will deliver an even better banking experience." There's no word yet on any potential layoffs or branch closures. Bank leaders say those decisions will be made carefully as they work to reach their goals.
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“We believe you have to complement technology with the local approach and out of that you gain the trust of each individual client in the community that it serves. But also doubling down to invest in the technology that doesn't even exist today,” the Truist Metrolina regional president said.
Bank leaders say their transition to Truist will take 18 to 24 months.