# Truist Financial

**Source:** https://geo.sig.ai/brands/truist-financial  
**Vertical:** Consumer Finance  
**Subcategory:** Commercial Banking  
**Tier:** Leader  
**Website:** truist-financial.com  
**Last Updated:** 2026-04-14

## Summary

Truist Financial (TFC) reported ~$20.3B revenue in FY2024. Sixth-largest U.S. bank formed by BB&T and SunTrust merger with $527B in assets and strong Southeast presence. HQ: Charlotte, NC.

## Company Overview

Truist Financial Corporation is the sixth-largest commercial bank in the United States, formed in December 2019 through the $66 billion merger of BB&T Corporation and SunTrust Banks — the largest U.S. bank merger in over a decade. Headquartered in Charlotte, North Carolina, Truist operates approximately 2,200 branches primarily across the Southeast and Mid-Atlantic (Virginia, North Carolina, Georgia, Florida, Maryland), serving approximately 12 million household customers and significant commercial banking relationships across the region.

Truist reported approximately $20.3 billion in total net revenue in FY2024, with the integration of two large legacy banks largely complete. The merger created a bank with scale to compete with the national megabanks while maintaining relationship banking strength in the Southeast — one of the fastest-growing economic regions in the United States. Key business lines include retail banking, commercial banking, corporate and investment banking (Truist Securities), mortgage, wealth management (Truist Advisory Services), and insurance distribution through former BB&T subsidiary McGriff.

The company sold its insurance brokerage subsidiary McGriff Insurance Services to Marsh McLennan in 2024 for approximately $7.75 billion, using proceeds to strengthen capital ratios and fund buybacks. This capital return signal was well-received by investors. Despite elevated integration costs and net interest margin pressure in 2023–2024, Truist's well-diversified revenue mix, strong Southeast market position, and improving efficiency trajectory support a positive outlook as integration tailwinds fully materialize.

## Frequently Asked Questions

### What is Truist Financial?
Truist is the sixth-largest U.S. bank ($527B assets), formed by the 2019 merger of BB&T and SunTrust Banks. It operates ~2,200 branches mostly across the Southeast (Virginia, NC, Georgia, Florida) and provides retail banking, commercial banking, mortgages, and wealth management.

### How was Truist formed?
Truist was created in December 2019 through the $66 billion merger of BB&T (Winston-Salem, NC) and SunTrust Banks (Atlanta, GA) — the largest U.S. bank merger in over a decade, creating a new top-10 bank focused on the Southeast.

### What is Truist's ticker?
Truist Financial Corporation trades on the NYSE under the ticker TFC.

### What happened to Truist's insurance business?
Truist sold its insurance brokerage subsidiary McGriff Insurance Services to Marsh McLennan in 2024 for $7.75 billion. McGriff was a significant business that BB&T had built through decades of acquisitions; the sale allowed Truist to strengthen its capital position and focus on core banking.

### What investment banking capabilities does Truist have?
Truist Securities (formerly BB&T Capital Markets and SunTrust Robinson Humphrey combined) provides investment banking, equity research, and capital markets advisory services to middle market and large corporate clients — one of the largest regional bank capital markets operations in the US.

### What is Truist's digital banking strategy?
Truist has invested over $2 billion in digital banking infrastructure, launching the Truist mobile banking app across its combined customer base and pursuing digital-first strategies for mortgage applications, small business banking, and wealth management to compete with national bank digital offerings.

### What markets does Truist primarily operate in?
Truist's branch network is concentrated in Virginia, North Carolina, Georgia, Florida, South Carolina, Tennessee, Maryland, and the Mid-Atlantic and Southeast — giving it strong market positions in some of the fastest-growing US population centers.

### How has Truist managed the BB&T/SunTrust integration?
The BB&T-SunTrust integration involved consolidating two large bank systems, brands, products, and workforces — a multi-year process culminating in the 2023 customer migration to the unified Truist platform. The integration has delivered cost savings ahead of initial targets but required significant systems investment.

## Tags

b2c, fintech, public

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*