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Charlotte is Abuzz with the BB&T/SunTrust Merger

Charlotte is Abuzz with the BB&T/SunTrust Merger

 

While the good news traveled like wildfire this morning across the Queen City, many others across the nation have been speculating about the merge of the Atlanta-based BB&T and Winston Salem’s coveted SunTrust Bank. Concern about the ‘big bank swallowing up the little banks again,’ meaning that this was surely a sign of a serious economic downturn, is nearly as rampant.

 

While businesses & banks merge with considerable regularity, concern stretches far & wide. In this planned merger, however, there truly is no concern necessary.

 

 

 

"This is a true merger of equals, combining the best of both companies to create the premier financial institution of the future," BB&T Chairman and CEO, Kelly S. King. 

 

"By bringing together these two mission- and purpose-driven institutions, we will accelerate our capacity to invest in transformational technologies for our clients,”  SunTrust Chairman and CEO, William H. Rogers, Jr.

 

Driven by the need of both banks to advance their technology platforms, the merger makes complete sense. Combining the two banks, the new bank will weigh heavily on SunTrust for its strengths in corporate and investment banking, while BB&T will levy their stronger positions in community banking and insurance services. 

 

The new name has not been announced to date. The merger is expected to be completed by the end of this year.

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Charlotte is Abuzz with the BB&T/SunTrust Merger

 

     

Charlotte Real Estate Team - The Maxwell House Group

 

  Charlotte NC Homes for Sale

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Charlotte CRS Agent


Debe Maxwell, Realtor®/Broker/CRS

RE/MAX Executive

CharlotteBroker@icloud.com
Direct:  (704) 491-3310

 

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Comment balloon 15 commentsDebe Maxwell, CRS • February 07 2019 04:31PM

Comments

Hi Debe - when it comes to banking I have three checking accounts that are now the same bank but they were all different banks when I opened them years ago.  Hard to find a local bank.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 12 days ago

We do have several small, local banks in our area but, they're being gobbled up, one-by-one here too, Grant Schneider. We have two banks that we use - both big banks but, headquartered locally. I'm glad to have a 3rd large bank headquartered here!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 12 days ago

Hi Debe Maxwell, CRS, I heard the news this morning. I have all my accounts with the same bank that I do not like at all but the pain of switching banks has prevented me from switching.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) 12 days ago

Hi Debe Maxwell, CRS - Over the years, I have lost count of all the banks I have had accounts in. I have 3 banks right now. All for different things.  

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 12 days ago

Hi Debe,
Glad this is a positive thing and particularly good for the Queen City!

Posted by Carol Williams, "Customized Mentoring & Marketing Services" (U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business.) 12 days ago

Debe my son does Loss Mitigation for BB&T Bank, I will be talking to him to find out how he will be impacted by the move.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 12 days ago

I have an account now that I need to switch too, Beth Atalay and the thought of changing banks is nearly as bad as the thought of changing brokerages! LOL

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 11 days ago

I only have two and that's enough for me to keep up with, Sheri Sperry - MCNE®! Seriously, Ray manages the finances and I am SO thankful for that! Online banking has made things easier for me but, still, I'm glad he's in charge of the tough part of running a household and business! LOL

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 11 days ago

Yes, we were having coffee this morning and you could feel the excitement in the room - it's great news for us, Carol Williams

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 11 days ago

Oh, that could mean a move to Charlotte for him, George Souto! He will love it here and you will love visiting him here too!! A win-win, I hope, for all!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 11 days ago

We don't see it mergers as a downturn generally...it has happened here in lending many times and will again this summer...it is economic growth and the progress we can all appreciate.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 11 days ago

We are long time SunTrust customers and have seen many name changes over the years. We do not have the local service that we appreciated in past years. 

Posted by Roy Kelley (Realty Group Referrals) 11 days ago

Agreed, Sally K. & David L. Hanson! Many people think that it's bad news - they were conditioned by The Great Recession, I guess! 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 11 days ago

We have some great local banks here, Roy Kelley but, you know, they don't offer some of the perks that the larger banks to. They may charge a bit more, but the perks are worth more than the higher fees. SunTrust is well-respected around here - hopefully this merge is a positive for both banks.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 11 days ago

Debe, I hear that Amazon is bailing NYC so you might be in the mix of that as well:))Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 9 days ago

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