WILSON’S LOCAL PRINT AND DIGITAL COMMUNITY INSTITUTION SINCE 1896

Customers will see few changes with BB&T merger: Truist to pay $455.5 million for Hearst Tower

Posted 12/11/19

While the merger of BB&T and SunTrust became official on Friday, it will take time to switch to the new Truist brand.

“It will take up to two years to switch everything, including ATMs, …

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Customers will see few changes with BB&T merger: Truist to pay $455.5 million for Hearst Tower

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While the merger of BB&T and SunTrust became official on Friday, it will take time to switch to the new Truist brand.

“It will take up to two years to switch everything, including ATMs, branches, regular buildings and all that,” said Tom Crosson, director of media relations for Truist Financial Corp. “It will be done in phases, but we haven’t decided what localities and types of buildings will switch first.”

In the meantime, customers can use BB&T or SunTrust’s in-person and digital services without penalty. Officials said there will be no merger-related changes to account numbers or routing numbers for the vast majority of clients, so most will not need to order new checks or make changes to direct deposits, automatic drafts or wire instructions.

With regard to BB&T’s roughly 2,000 employees in Wilson, Crosson said no layoffs have happened or are planned.

“Changes in emails and titles is something that will be rolled out over time,” he said. “We have two systems we’ll have to bring together, so it will just take time.”

Truist has named Phil Marion as the regional president for eastern North Carolina, and Wes Berry is being retained as the market president.

“Our ability to leverage our unique community banking model with its decentralized, regional structure combined with deep industry and banking expertise immediately sets Truist apart from our larger competitors and allows us to operate on a more personal level with individual and business clients, providing them with the kind of attention they expect from a hometown bank,” commercial community bank executive David H. Weaver said in a press release. “It also empowers our regional presidents with the authority, delivery and decision-making they need to remain close to our clients along with highly visible and engaged leadership in our communities. Most importantly, it enables us to continue building long-term relationships of trust with our clients, based on fairness, transparency and respect.”

Truist made news Wednesday with the announcement of a $455.5 million deal to purchase the 47-story Hearst Tower in uptown Charlotte for the company’s headquarters. CEO Kelly King said the tower will become Truist Center and house up to 2,000 employees.

When the merger was announced in February, officials touted the construction of an innovation and technology center in Charlotte. King said it could be housed in the new tower or might be elsewhere.

“With Truist, we’re creating a new company with a bold, transformative vision to increase investment in innovation technology and create a distinctive teammate and client experience,” Truist President and COO Bill Rogers said in a release. “We have much work ahead of us, but we’re well-positioned to create meaningful change for the clients we serve and the communities where we live and work.”

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