TRUIST FINANCIAL CORP acquisition history.

All-stock merger of equals between BB&T Corporation and SunTrust Banks, Inc. creating Truist Financial Corporation, the sixth-largest U.S. bank by assets and deposits, with roughly $442 billion in assets, $301 billion in loans and $324 billion in deposits serving more than 10 million households. The combined company adopted a new name and brand and established a new corporate headquarters in Charlotte, NC.

Why it was attractive

1. 01 Enhanced scale
2. 02 an expanded fee-income base
3. 03 and overlap in high-growth Southeast markets
4. 04 double-digit EPS accretion expected by 2021

Capabilities acquired

retail bankingcommercial bankingwholesale bankingdigital banking platformexpanded fee-income businesses

This is a true merger of equals, combining the best of both companies to create the premier financial institution of the future.

This is a historic moment for Truist - a financial services organization built to make a difference.

Post-close · earnings-call commentary

Truist Q4 2019 earnings call (Jan. 30, 2020): management described a careful and cautious approach to systems integration to minimize client disruption, reiterating confidence in the net $1.6 billion savings target with run-rate milestones across 2020-2022.

BB&T acquired National Penn Bancshares, Inc. (NASDAQ: NPBC), headquartered in Allentown, PA, in a cash-and-stock transaction valued at approximately $1.8 billion. National Penn had about $9.6 billion in assets, $7.0 billion in deposits and 124 banking offices in Pennsylvania as of Sept. 30, 2015, lifting BB&T to a combined #4 ranking in Pennsylvania.

Why it was attractive

1. 01 Combined #4 deposit ranking in Pennsylvania
2. 02 EPS accretive with strong IRR
3. 03 complements the Susquehanna acquisition completed months earlier

Capabilities acquired

community bankingdeposit franchisePennsylvania branch network

National Penn is a strategically compelling deal that complements the legacy Susquehanna franchise and presents enormous opportunities to leverage our proven community banking capabilities in these mid-Atlantic markets.

BB&T acquired Susquehanna Bancshares, Inc. (NASDAQ: SUSQ), a Lititz, PA-based top-50 U.S. bank with $18.6 billion in assets, $13.6 billion in deposits and 245 banking offices across Pennsylvania, Maryland, New Jersey and West Virginia, in a cash-and-stock transaction valued at approximately $2.5 billion. The deal significantly expanded BB&T's Mid-Atlantic footprint and improved its ranking to #5 in Maryland.

Why it was attractive

1. 01 Attractive market extension
2. 02 second-largest bank headquartered in Pennsylvania
3. 03 combined #5 ranking in Susquehanna's markets
4. 04 EPS accretive with strong IRR

Capabilities acquired

community bankingMid-Atlantic branch networkdeposit franchise

In an FDIC-assisted transaction, BB&T acquired the banking operations of Colonial Bank of Montgomery, AL after Alabama regulators closed the bank and named the FDIC as receiver. BB&T acquired approximately $22 billion in net assets and assumed approximately $20 billion in deposits, with the FDIC and BB&T entering a loss-sharing agreement covering substantially all acquired loans and securities. It was BB&T's largest acquisition in its then-137-year history.

Why it was attractive

1. 01 Moved BB&T to #4 deposit market share in Alabama and #5 in Florida
2. 02 created the nation's eighth-largest financial holding company by deposits with minimal asset risk via FDIC loss-sharing

Capabilities acquired

branch network across AlabamaFlorida and Georgiadeposit franchise

Today's announcement represents an exciting growth opportunity for BB&T. We're gaining solid market shares in great markets in Alabama, Florida and Georgia. And it comes with minimal asset risk to BB&T because of our loss sharing agreement with the FDIC.