BB&T

In 1872, Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank in their hometown of Wilson, North Carolina. After many transactions, mostly with local farmers, Branch bought out Hadley's shares in 1887 and renamed the company Branch and Company, Bankers.{{NRISref|version=2010a}} During that same year, the bank also moved to its new headquarters on Nash Street in downtown Wilson, North Carolina.{{cite book |date=2012 |title=Our account a History of BB&T |publisher=BB&T |page=25}} Two years later, Branch, his father-in-law Gen. Joshua Barnes, Hadley, and three other men secured a charter from the North Carolina General Assembly to operate the Wilson Banking and Trust Company. After many more name changes, the company finally settled on the name Branch Banking and Trust Company. Branch remained an active member of the company until his death in 1893. The 1903 Branch Banking and Trust Company Building at Wilson was listed on the National Register of Historic Places in 1978.

BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson.{{Cite web |url=https://northcarolinahistory.org/encyclopedia/branch-banking-and-trust-company-bbt/ |title=Branch Banking and Trust Company (BB&T) |website=North Carolina History Project |language=en-US |access-date=April 9, 2020 |archive-date=July 26, 2020 |archive-url=https://web.archive.org/web/20200726160313/https://northcarolinahistory.org/encyclopedia/branch-banking-and-trust-company-bbt/ |url-status=live }} Up until 2008, the CEO was John A. Allison IV.

In 1995, Southern National Bank merged with BB&T.Taft Wireback, "Presidential Candidate Keyes Speaks in Triad," Greensboro News & Record, January 26, 1996, p. B2. The holding company was initially named "Southern National Corp" but the BB&T name replaced "Southern National" everywhere from 1997."Year of Changes," Greensboro News & Record, July 20, 1997.

In 2020, Truist Financial acknowledged and apologized for the company's historic connections to slavery. Kelly King, chairman and chief executive of Truist, issued an employee memo addressing BB&T's slavery ties, but did not mention BB&T's founders Alpheus Branch and Thomas Hadley by name. Prior to the Civil War, Alpheus Branch's father Samuel owned 58 slaves. Thomas Hadley's father owned 37 slaves. The memo stated that "we must consider our own past and acknowledge the role our heritage companies played over 100 years ago to perpetuate the atrocity of slavery and the repression of enslaved people, leading to systemic disadvantages their descendants have endured for generations...We deeply regret and denounce these shameful aspects of our history, both known and unknown." According to the book "Genealogy of American Finance", the economic roots of BB&T can be traced back to 1805, even though BB&T was founded in 1872, nearly a decade after slavery was abolished. Both founders of the bank served in the Confederate Army.{{cite web|url=https://journalnow.com/apology-for-banks-ties-to-slavery-comes-from-truists-top-executive/article_1ccf21ea-d2f2-5ef2-9d97-9b1fa1334d0e.html |title=Apology for bank's ties to slavery comes from Truist's top executive |publisher=Winston-Salem Journal |accessdate=2022-05-23}}{{cite web|url=https://www.charlotteobserver.com/news/business/banking/article243929412.html |title=Truist apologizes for links to slavery. 'I will do everything I can to make it better,' CEO says |publisher=The Charlotte Observer |accessdate=2022-05-23}}

On February 7, 2019, It was reported that Winston-Salem-based BB&T and Atlanta-based SunTrust Banks would come together in a merger of equals to create the eighth-largest U.S. bank. It would be the biggest bank deal since the 2007-2009 financial crisis. The bank also announced the move of its headquarters to Charlotte, North Carolina, retaining significant operations in Winston-Salem.{{cite news |url=https://www.journalnow.com/business/new-name-for-bb-t-suntrust-may-help-deliver-new/article_7c4048dd-3f7f-52f1-ad7e-1efa036c0fbb.html |title=New name for BB&T-SunTrust may help deliver new identity to customers, marketplace |first=Richard |last=Craver |work=Winston-Salem Journal |date=February 11, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181812/https://journalnow.com/business/new-name-for-bb-t-suntrust-may-help-deliver-new/article_7c4048dd-3f7f-52f1-ad7e-1efa036c0fbb.html |url-status=live }}{{cite news |title=BB&T and Suntrust to combine in an all-stock merger of $66 billion |url=https://www.cnbc.com/2019/02/07/bbt-and-suntrust-to-combine-in-an-all-stock-merger-of-66-billion.html |publisher=CNBC |agency=Reuters |date=February 7, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181803/https://www.cnbc.com/2019/02/07/bbt-and-suntrust-to-combine-in-an-all-stock-merger-of-66-billion.html |url-status=live }} It was subsequently announced that Winston-Salem would be the bank's headquarters for community banking, while Atlanta would be the hub for wholesale / retail banking.{{cite news |url=https://www.journalnow.com/news/local/bb-t-headquarters-move-to-charlotte-stings-but-silver-lining/article_c614dc33-7177-5d18-a8c7-727cdab206a9.html |title=BB&T headquarters move to Charlotte stings but silver lining could be more local jobs |last=Craver |first=Richard |work=Winston-Salem Journal |date=February 10, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181810/https://journalnow.com/news/local/bb-t-headquarters-move-to-charlotte-stings-but-silver-lining/article_c614dc33-7177-5d18-a8c7-727cdab206a9.html |url-status=live }}

On June 12, BB&T and SunTrust announced that the merged company would be called Truist Financial Corporation.{{cite news |url=https://www.wsj.com/articles/truist-financial-is-new-name-for-combined-bb-t-suntrust-11560369032 |title=Truist Financial Is New Name for Combined BB&T, SunTrust |author1=Allison Prang |publisher=The Wall Street Journal |date=June 12, 2019 |access-date=October 22, 2021 |archive-date=January 20, 2022 |archive-url=https://web.archive.org/web/20220120075504/https://www.wsj.com/articles/truist-financial-is-new-name-for-combined-bb-t-suntrust-11560369032 |url-status=live }} This name resulted from research that included hiring Interbrand, seeking opinions of employees of both banks, and focus groups. The new name drew criticism from analysts and customers of both banks on social media.{{cite news |url=https://thefinancialbrand.com/84686/truist-bank-rebranding-bbt-suntrust-truliant-financial-marketing/ |title=Truist Bank: Colossal Rebranding Misstep? Or Long-Term Winner? |work=The Financial Brand |last=Streeter |first=Bill |date=June 18, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181802/https://thefinancialbrand.com/84686/truist-bank-rebranding-bbt-suntrust-truliant-financial-marketing/ |url-status=live }}{{cite news |url=https://www.cnbc.com/2019/06/13/truist-name-for-bbt-suntrust-bank-lampooned-by-analysts-customers.html |title=New name for BB&T-SunTrust bank lampooned: 'You could put this on a brand of toothpaste' |last=Sheetz |first=Michael |work=CNBC |date=June 13, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181801/https://www.cnbc.com/2019/06/13/truist-name-for-bbt-suntrust-bank-lampooned-by-analysts-customers.html |url-status=live }} Five days later, Truliant Federal Credit Union of Winston-Salem filed suit claiming "trademark infringement", complaining of potential confusion between the two companies’ respective names, including Truliant products with "Tru" in their names.{{cite news |url=https://www.ajc.com/business/suntrust-and-sued-credit-union-over-truist-name/XqIYuwwAYcwNBsrdaHe4JP/ |title=SunTrust and BB&T sued by N.C. credit union over 'Truist' name |last=Trubey |first=J. Scott |work=Atlanta Journal-Constitution |date=June 19, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181803/https://www.ajc.com/business/suntrust-and-sued-credit-union-over-truist-name/XqIYuwwAYcwNBsrdaHe4JP/ |url-status=live }} The parties agreed to dismiss claims on August 5, 2020, and the lawsuit was closed the next day.{{cite news |url=https://journalnow.com/business/the-briefcase-truliant-truist-trademark-lawsuit-is-closed/article_ba455e8b-bba3-5a95-96de-4fbdf922d9a5.html |title=Truliant, Truist trademark lawsuit is closed |last=Craver |first=Richard |work=Winston-Salem Journal |date=August 11, 2020 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181802/https://journalnow.com/business/the-briefcase-truliant-truist-trademark-lawsuit-is-closed/article_ba455e8b-bba3-5a95-96de-4fbdf922d9a5.html |url-status=live }}

The merger was completed at midnight December 6, 2019.{{cite news |url=https://www.journalnow.com/business/truist-debuts-with-high-expectations-of-low-transition-impact-on/article_89511a46-90ee-5961-9d91-cf6e0c9a41d1.html |title=Truist debuts with high expectations of low transition impact on BB&T, SunTrust customers |last=Craver |first=Richard |work=Winston-Salem Journal |date=December 7, 2019 |access-date=October 22, 2021 |archive-date=January 20, 2022 |archive-url=https://web.archive.org/web/20220120075507/https://journalnow.com/business/truist-debuts-with-high-expectations-of-low-transition-impact-on/article_89511a46-90ee-5961-9d91-cf6e0c9a41d1.html |url-status=live }} BB&T CEO Kelly King retained the same position with the new company. Customers of both banks were given free access to all of Truist's ATMs free of charge.{{cite news |url=https://www.journalnow.com/business/truist-ceo-most-customers-won-t-see-any-account-changes/article_b3b17264-e9b6-51f1-8fe6-a9dcb079d537.html |title=Truist CEO: Most customers won't see any account changes |last=Craver |first=Richard |work=Winston-Salem Journal |date=December 9, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181807/https://journalnow.com/business/truist-ceo-most-customers-won-t-see-any-account-changes/article_b3b17264-e9b6-51f1-8fe6-a9dcb079d537.html |url-status=live }} The merged bank will continue to operate under the BB&T and SunTrust names until the two banks' computer hardware, software and networking systems are streamlined, a process that could take as long as two years.{{cite news |url=https://www.charlotteobserver.com/news/business/banking/article238089189.html |title=BB&T, SunTrust finish merger to become Truist in 'seamless' change. Here's what's next |author1=Danielle Chemtob |publisher=The Charlotte Observer |date=December 9, 2019 |access-date=October 22, 2021 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416222856/https://www.charlotteobserver.com/news/business/banking/article238089189.html |url-status=live }} Due to delays related to the COVID-19 pandemic, Truist announced in April 2021 that core conversion to combine the branches would be performed in early 2022.{{cite news |url=https://www.bizjournals.com/charlotte/news/2021/04/15/truist-more-on-earnings-first-quarter-2021.html |title=Truist Financial execs on latest progress in post-merger integration |first1=Caroline |last1=Hudson |work=Charlotte Business Journal |date=April 15, 2021 |access-date=May 28, 2021 |archive-date=April 15, 2021 |archive-url=https://web.archive.org/web/20210415224533/https://www.bizjournals.com/charlotte/news/2021/04/15/truist-more-on-earnings-first-quarter-2021.html |url-status=live }} However, on the day the merger closed, SunTrust Bank merged into Branch Banking & Trust Company, forming Truist Bank as the merged company's legal banking entity.

On December 11, 2019, Truist officially exercised its option to purchase Hearst Tower in downtown Charlotte from Cousins Properties. Truist moved its corporate headquarters to Hearst Tower, which was renamed Truist Center.{{cite news |url=https://www.charlotteobserver.com/news/business/banking/article238265768.html |title=Truist buys uptown tower for record $455 million as bank builds Charlotte presence |first1=Danielle |last1=Chemtob |first2=Austin |last2=Weinstein |work=The Charlotte Observer |date=December 11, 2019 |access-date=December 12, 2019 |archive-date=December 16, 2019 |archive-url=https://web.archive.org/web/20191216122327/https://www.charlotteobserver.com/news/business/banking/article238265768.html |url-status=live }} Truist had taken over {{convert|550000|sqft}} of {{convert|965000|sqft}} total.{{cite news |url=https://www.journalnow.com/news/local/truist-takes-little-time-to-buy-charlotte-headquarters-building-rename/article_32d799f4-1c23-11ea-8064-d33677485135.html |title=Truist takes little time to buy Charlotte headquarters building, rename it Truist Center |last=Craver |first=Richard |work=Winston-Salem Journal |date=December 11, 2019 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181814/https://journalnow.com/news/local/truist-takes-little-time-to-buy-charlotte-headquarters-building-rename/article_32d799f4-1c23-11ea-8064-d33677485135.html |url-status=live }} The bank announced the deal was completed March 31, 2020. However, due to the COVID-19 pandemic, further actions would be delayed.{{cite news |url=https://www.journalnow.com/business/truist-completes-455-5m-purchase-of-charlotte-hq-bank-delays-new-branding-unveilings/article_891db77d-c8dd-5565-ac83-dcff50a7691c.html |title=Truist completes $455.5M purchase of Charlotte HQ; bank delays new branding unveilings |last=Craver |first=Richard |work=Winston-Salem Journal |date=April 2, 2020 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181806/https://journalnow.com/business/truist-completes-455-5m-purchase-of-charlotte-hq-bank-delays-new-branding-unveilings/article_891db77d-c8dd-5565-ac83-dcff50a7691c.html |url-status=live }}

Truist unveiled its logo in January 2020, with two Ts representing touch and technology, and a shade of purple combining the blue of SunTrust and the burgundy of BB&T.{{cite news |url=https://www.journalnow.com/business/what-will-truist-look-like-bank-unveils-its-new-logo/article_aecc5d8e-fbe4-5b90-9311-18b482bc2dc9.html |title=What will Truist look like? Bank unveils its new logo and color scheme |last=Craver |first=Richard |work=Winston-Salem Journal |date=January 13, 2020 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181805/https://journalnow.com/business/what-will-truist-look-like-bank-unveils-its-new-logo/article_aecc5d8e-fbe4-5b90-9311-18b482bc2dc9.html |url-status=live }} In November 2020, the bank used helicopters to lift up four signs to the top of the former Hearst Tower. The "Truist" wordmark appears on the North Tryon Street and North College Street sides of the building, while the other two sides displayed the Truist logo. This signage has caused a lot controversy, even leading the building's original architect to refer to the signage as vandalism.{{cite news |url=https://www.charlotteobserver.com/news/business/banking/article247508695.html?ac_cid=DM339158&ac_bid=-1219545137 |title=Truist put its name on its new HQ. The building's architect called it vandalism. |first1=Austin |last1=Weinstein |work=The Charlotte Observer |date=December 7, 2020 |access-date=December 8, 2020 |archive-date=May 7, 2022 |archive-url=https://web.archive.org/web/20220507145438/https://www.charlotteobserver.com/news/business/banking/article247508695.html?ac_cid=DM339158&ac_bid=-1219545137 |url-status=live }}

In February 2020, Truist announced it would be launching a nonprofit foundation called the Truist Foundation.{{Cite web |url=https://www.bizjournals.com/charlotte/news/2020/03/03/truist-financial-corp-launches-nonprofit.html |title=Truist Financial Corp. launches nonprofit foundation |website=www.bizjournals.com |access-date=March 5, 2020 |archive-date=April 16, 2021 |archive-url=https://web.archive.org/web/20210416222846/https://www.bizjournals.com/charlotte/news/2020/03/03/truist-financial-corp-launches-nonprofit.html |url-status=live }}

In March 2020, Truist announced it would vacate BB&T Financial Center, its former headquarters building in Winston-Salem, except for a branch office and would move employees in its community/retail hub to other locations in the city, including the Park Building on Cherry Street and two locations on Stratford Road.{{cite news |url=https://www.journalnow.com/news/local/truist-moving-offices-out-of-former-bb-t-headquarters-will/article_108bf924-e67e-5b96-bfe1-0b6760af402b.html |title=Truist moving offices out of former BB&T headquarters, will keep branch location there |last=Craver |first=Richard |work=Winston-Salem Journal |date=March 5, 2020 |access-date=October 22, 2021 |archive-date=October 22, 2021 |archive-url=https://web.archive.org/web/20211022181808/https://journalnow.com/news/local/truist-moving-offices-out-of-former-bb-t-headquarters-will/article_108bf924-e67e-5b96-bfe1-0b6760af402b.html |url-status=live }}

BB&T had naming rights for various sports venues.

• {{section link|Truist Financial#Naming rights}} lists those which changed from "BB&T" to "Truist" after the 2020 merger
• BB&T Center was the 2012–2021 name for what is now Amerant Bank Arena, home of the Florida Panthers hockey team

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