Truist Financial Corp. (extinct)

Truist Financial Corp. (extinct)

Truist Financial Corp. (extinct)

Overview
Date Founded

1968

Headquarters

200 West 2nd Street,Winston-Salem, NC 27101-1250

Type of Company

Public

Employees (Worldwide)

37.2K

Industries

Retail & Commercial Banking
Consumer Finance
Accounting & Financial Services
Internet Software & Services
Holding Companies

Company Description

BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $178.5 billion in assets and market capitalization of $21.6 billion, as of June 30, 2012. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. BB&T's banking subsidiaries are organized as a group of community banks, each with a regional president, which allows decisions to be made locally, close to the client. This also makes BB&T's client service more responsive, reliable and empathetic. More information about BB&T and its full line of products and services is available at www.BBT.com. On April 2, 2012, BB&T completed its acquisition of the life and property and casualty insurance divisions of Roseland, N.J.-based Crump Group Inc. The acquisition adds approximately $300 million in annual revenues to BB&T's insurance businesses and significantly strengthens and diversifies BB&T's non-interest revenues. The acquisition creates the largest independent wholesale distributor of life insurance and the second largest provider of wholesale commercial insurance brokerage and specialty programs in the U.S. On July 31, 2012, BB&T completed its application to acquire BankAtlantic, the wholly-owned subsidiary of BankAtlantic Bancorp (NYSE: BBX), was approved by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (FDIC). The North Carolina Office of the Commissioner of Banks also has approved the acquisition. BankAtlantic branches will be rebranded as BB&T in the fourth quarter.This acquisition strategy has contributed significantly to BB&T's success

Website

https://www.truist.com

Contact Data
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In The News
PR Newswire
April 2, 2020
Truist Invests $10 million in Westside Future Fund; Investment will provide financing and acquisition for community development projects in Atlanta
PR Newswire
March 31, 2020
Cousins Properties Completes Sale Of Hearst Tower To Truist
PR Newswire
March 31, 2020
Truist Completes Purchase of Truist Center; Signage, branding and occupancy decisions for Truist Center, formerly Hearst Tower, to be made at later date
Banking and Credit News
March 24, 2020
Truist implements changes in branch banking during COVID-19
Banking and Credit News
March 20, 2020
Truist decreases prime lending rate

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Executives & Employees
See More
Kelly S. King

Chairman, President & Chief Executive Officer

Ricky K. Brown

Group President, Washington, D.C. Metro Region

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Truist Financial Corp.
Owners & Shareholders
Details Hidden
Highland Capital Management Fund Advisors LP

Highland Capital Management Fund Advisors manages a variety of mutual funds for Highland Capital Management LP. The mutual funds include alternative, equity, fixed income and asset allocation funds.

Details Hidden
Pacitti Group, Inc.

Details Hidden
Ilmarinen Mutual Pension Insurance Co.

Ilmarinen is an active, profit-oriented investor which manages an investment portfolio that has been diversified both geographically and across a wide variety of asset classes, such as equities and shares, fixed income investments and real estate with a focus on Finnish securities. The firm typically establishes information about the investment allocation and the return on investments on a quarterly basis. Ilmarinen generally aims to select companies with good growth potential in which they take long-term positions. They support investment decisions with information obtained through their active ownership policy, which encourages fund managers to participate in shareholders' meetings, make full use of voting rights and keep in contact with the management of investees.

Recent Transactions
Details Hidden

Truist Financial Corp. purchases SunTrust Banks, Inc. resulting in a new company Truist Financial Corp.

Details Hidden

Kellermeyer Bergensons Services LLC, GI Partners purchase Capital Contractors, Inc. - New York from Palladium Equity Partners Advisor LLC, Triangle Capital Corp. (Private Equity)

Details Hidden

ABCOM Computer Rental, Inc., Dubin Clark & Co., Inc. purchase SmartSource Computer & Audio Visual Rentals from Smart Source Holdings LLC

Transaction Clients
Investment Advisor
First Bancorp - North Carolina

Advised on First Bancorp - North Carolina purchases Aberdeen Insurance & Realty Co., Inc.

Investment Advisor
Hooker Furniture Corp.

Advised on Hooker Furniture Corp. purchases Bradington Young LLC

Investment Advisor
La-Z-Boy Incorporated

Advised on Hancock Park Associates, Inc. purchases American of Martinsville, Inc. from La-Z-Boy Incorporated

Transaction Advisors
Accountant
Arthur Andersen LLP

Advised onTruist Financial Corp., Southern National Corp. purchase United Carolina Bancshares Corp.

Legal Advisor
Arnold & Porter LLP

Advised onTruist Financial Corp. purchases First Virginia Banks, Inc.

Legal Advisor
Womble, Carlyle, Sandridge & Rice LLP

Advised onTruist Financial Corp. purchases First Virginia Banks, Inc.

Legal Advisor
Matthew M. Guest

Advised onTruist Financial Corp. purchases SunTrust Banks, Inc. resulting in a new company Truist Financial Corp.

Legal Advisor
Gregory B. Astrachan

Advised onTruist Financial Corp., BB&T Insurance Holdings, Inc. purchase Regions Insurance Group, Inc. from Regions Financial Corporation

Legal Advisor
Christopher J. Peters

Advised onTruist Financial Corp. purchases CGSC of Delaware Holdings Corp. from ED Broking Group Ltd.

Advisors & Consultants
Legal Advisor
Brad S. Karp

Chairman at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor
Leslie M. Spencer

Partner at Ropes & Gray LLP

Advisor
Michael L. Bernstein

Former Chair, National Bankruptcy & Corporate Restructuring Practice at Arnold & Porter LLP
Clients
Newberry College

Provide undergraduate education for approximately 1,000 students.
Key Stats and Financials As of
Market Capitalization
$61.9B
Total Enterprise Value
Earnings Per Share
Non-Profit Donations & Grants
$1M
2012
North Georgia College & State University

$1.5M
2010
The University of Georgia

$3.5M
2008
Clemson University

Investments
Details Hidden
Enigma Technologies, Inc.

Enigma Technologies, Inc. operates as a database software provider. It offers geo-coding, custom data acquisition, behind the firewall, time series and join analysis, augmented research tools, and entity resolution. The company was founded by Marc DaCosta and Hicham Oudghiri in 2011 and is headquartered in New York, NY.

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Sopherion Therapeutics LLC

Sopherion Therapeutics LLC develops and commercializes anti-cancer therapies. The company was founded by Ronald H. Goldfarb and Salvatore Forenza in 2002 and is headquartered in Princeton, NJ.

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C-P Converters, Inc.

C-P Converters, Inc. manufactures and prints flexible packaging products. It offers flexible packaging, recloseable roll stocks and lid stocks, standard and extended shrink sleeves, stand-up pouches, roll fed and feed labels, products with re-sealable options and shrink sleeve labels and bags. The company was founded in 1959 and is headquartered in York, PA.

Investors
Details Hidden
Anna R. Cablik

Partner at CK Property Group LLC

Suppliers
Highwoods Properties, Inc. Trusts & Funds | Raleigh, North Carolina

Highwoods Properties, Inc. operates as a real estate investment trust, which engages in the operation, acquisition and development of office properties. It operates through the office, and other segments. Its markets includes Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa. The company was founded by Ronald P. Gibson in 1978 and is headquartered in Raleigh, NC.

Awards & Honors
Rank #273
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #273
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine

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