Truist will work with a Community Advisory Board composed of representatives of nonprofit organizations
serving
low-
and moderate-income communities, with the goal of providing information and updates on the progress of the plan and obtaining input and feedback on emerging issues and challenges facing LMI
families and communities.
In February 2019, BB&T and SunTrust announced a proposed merger of equals, which would result in the sixth-largest U.S.
commercial bank based on assets and deposits. The merger is expected to close in the third or fourth quarter of 2019, subject to customary closing conditions, including regulatory approvals and approval of both companies shareholders.
About BB&T
BB&T is one of the largest financial
services holding companies in the U.S. with $227.7 billion in assets and market capitalization of approximately $35.6 billion, as of March 31, 2019. Building on a long tradition of excellence in community banking, BB&T offers a
wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., the company
operates more than 1,800 financial centers in 15 states and Washington, D.C., and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its
full line of products and services is available at
BBT.com
.
About SunTrust Banks, Inc.
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves.
SunTrust leads
onUp
, a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive
branch and ATM network throughout the high-growth Southeast and
Mid-Atlantic
states, along with
24-hour
digital access. Certain business lines serve consumer,
commercial, corporate, and institutional clients nationally. As of March 31, 2019, SunTrust had total assets of $220 billion and total deposits of $162 billion. The Company provides deposit, credit, trust, investment, mortgage, asset
management, securities brokerage, and capital market services. Learn more at
suntrust.com
.
Cautionary Note Regarding Forward-Looking
Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding the financial condition, results of operations, business plans and the future performance of BB&T and SunTrust. Words such as anticipates, believes, estimates, expects,
forecasts, intends, plans, projects, could, may, should, will or other similar words and expressions are intended to identify these forward-looking
statements. These forward-looking statements are based on BB&Ts and SunTrusts current expectations and assumptions regarding BB&Ts and SunTrusts businesses, the economy, and other future conditions. Because
forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Many possible events or factors could affect BB&Ts or
SunTrusts future financial results and performance and could cause actual results or performance to differ materially from anticipated results or performance. Such risks and uncertainties include, among others: the occurrence of any event,
change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between BB&T and SunTrust, the outcome of any legal proceedings that may be instituted against BB&T or
SunTrust, delays in completing the transaction, the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected
benefits of the transaction) and shareholder approvals or to satisfy any of the other conditions to the transaction on a timely basis or at all, the possibility that the anticipated benefits of the transaction are not realized when expected or at
all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where BB&T and SunTrust do business, the possibility
that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, diversion of