BB&T Corp. and SunTrust Banks Inc. chose Truist as their name after the two companies complete their planned $28 billion merger, Bloomberg reported on Wednesday.
Truist, if approved by banking regulators, would become the sixth-largest U.S. commercial bank, according to Bloomberg.
Read the full report here.
The effects of the name change could be felt in the Lehigh Valley. BB&T moved into the region when it acquired National Penn Bank in 2016. The Winston-Salem, N.C.-based bank closed its regional headquarters in downtown Allentown in December 2018.