Truist Financial Corporation

What is Truist Financial Corporation?
Truist Financial Corporation is the bank holding company that owns Truist Bank, one of the ten largest commercial banks in the United States. It was formed in December 2019 by the merger of BB&T Corporation and SunTrust Banks and is headquartered in Charlotte, North Carolina. The company trades on the NYSE under ticker TFC.

Is Truist publicly traded?
Yes. Truist Financial Corporation trades on the New York Stock Exchange under the ticker symbol TFC. Both predecessor banks were also publicly traded: BB&T and SunTrust shares were exchanged for Truist shares when the merger closed in December 2019.

When was Truist founded?
Truist as a company was founded on December 6, 2019, when the BB&T and SunTrust merger closed. Its predecessor banks are much older: BB&T was founded in 1872 in Wilson, North Carolina, and SunTrust's earliest predecessor, the Trust Company of Georgia, was founded in Atlanta in 1891.

Who is the CEO of Truist?
Bill Rogers is chairman and chief executive officer of Truist. He led BB&T before the merger and became Truist CEO in September 2021, succeeding Kelly King. Mike Maguire serves as chief financial officer.

What brands does Truist own?
Truist operates primarily under the Truist master brand, including Truist Bank for retail and commercial banking, Truist Securities for investment banking, and Truist Wealth for private wealth services. It also owns LightStream, an online consumer lender. It sold Truist Insurance Holdings in May 2024 for $15.5 billion and Sterling Capital Management to Guardian Capital Group in July 2024.

What was Truist's revenue in 2025?
Truist reported total revenue of $20.5 billion for fiscal year 2025, including $14.6 billion of net interest income and $5.9 billion of noninterest income. Net income available to common shareholders was approximately $5.0 billion, or $3.82 per diluted share, up 14% from 2024.

Truist's corporate lineage reaches back to two long-running Southern banks. BB&T was founded in 1872 as Branch and Hadley in Wilson, North Carolina, by Alpheus Branch and Thomas Jefferson Hadley. It grew through a conservative lending culture and dozens of community bank acquisitions, becoming Branch Banking and Trust Company and later BB&T Corporation, headquartered in Winston-Salem.

SunTrust's roots run through the Trust Company of Georgia, founded in Atlanta in 1891, which eventually merged with Sun Banks of Florida in 1985 to form SunTrust Banks. SunTrust acquired the national brokerage Robinson-Humphrey in 2001 and built a significant consumer and middle-market franchise across the Southeast.

On February 7, 2019, BB&T and SunTrust announced a merger of equals, creating the sixth-largest US bank at the time with approximately $442 billion in assets. The combined company took the new name Truist, selected Charlotte as its headquarters, and completed the merger on December 6, 2019. Kelly King, previously BB&T's chairman and CEO, became the first CEO of Truist.

Integration dominated the early years. Truist converted legacy BB&T and SunTrust branches and clients onto unified systems in 2021 and 2022, a process that produced some customer disruption. Rogers, who had run BB&T's insurance and operations businesses and then led the combined bank's community banking unit, became CEO in September 2021.

The defining strategic move of the Rogers era came in February 2024, when Truist agreed to sell its remaining stake in Truist Insurance Holdings, the fifth-largest US insurance brokerage, to an investor group led by Stone Point Capital and Clayton, Dubilier & Rice at a $15.5 billion valuation. The sale closed in May 2024, generating about $10.1 billion in after-tax proceeds and lifting the CET1 capital ratio by roughly 230 basis points. Truist used part of the proceeds to reposition its securities portfolio, selling approximately $27.7 billion of lower-yielding bonds at an after-tax loss of about $5.1 billion to reinvest at higher yields.

Through 2025 and into 2026, Truist focused on organic loan growth, deposit gathering, and efficiency. Full-year 2025 results showed 14% growth in diluted EPS to $3.82, broad-based loan growth, and $5.2 billion in capital returns. Management set a 15% ROTCE target for 2027 and framed 2026 as a year to accelerate revenue growth.

Truist publishes an annual corporate social responsibility report covering community investment, climate commitments, and governance. The company committed to net zero greenhouse gas emissions in its operations by 2050 and reports financed-emissions work under the Partnership for Carbon Accounting Financials framework. Its community benefit plan announced at the merger pledged $60 billion in lending and investment to low- and moderate-income communities over three years, a commitment that was subsequently renewed.

Through the Truist Foundation and Truist Charitable Fund, the company directs philanthropy toward small business development, workforce readiness, and financial education. The Truist Cares initiatives were among the larger corporate COVID-era relief efforts in the Southeast.

No major greenwashing or ESG-related regulatory actions have been documented against Truist. Environmental claims are reported at the corporate level and are not independently certified for specific lending portfolios.

The 2021-2022 core conversion of legacy BB&T and SunTrust clients onto unified systems generated customer complaints about account access and service disruption, drawing attention from consumer advocates and regulators. Truist dedicated remediation resources and reimbursed affected clients for documented losses.

In January 2026, Truist executed a settlement agreement in Bickerstaff v. SunTrust Bank, a legacy overdraft-fee class action, providing for payments of up to $240 million subject to court approval and valid class-member claims. The case originated at SunTrust before the merger and concerned the ordering of debit transactions to maximize overdraft fees.

In 2022, Truist settled with the Consumer Financial Protection Bureau for $9 million over alleged failures in handling consumer reporting disputes related to COVID-era forbearance reporting. The company neither admitted nor denied the findings and updated its dispute-handling procedures.