From National Penn to BB&T: Bank reveals its new name
It’s in the truest sense that BB&T, which has bank branches in the Lehigh Valley, and SunTrust, come up with a new identity.
The name came out Wednesday and — honest — it’s going to be called Truist.
The two banks announced in February that they would merge. The banks partnered with Interbrand, a global brand consultancy, to lead in the development of a name and brand identity, with priority given to input from workers and clients, according to a news release.
There was no word on how bank leaders came to agree on the name. The release notes the name reflects the rich heritage of both companies and “a shared belief in building a better future.”
“In the coming months, we will share more about the new brand,” BB&T spokesman David White said.
BB&T acquired Allentown’s National Penn Bancshares in 2016 and renamed Lehigh Valley branches with the WinstonSalem bank’s initials. The change included replacing large signs such as those at Two City Center at Hamilton and Seventh streets in Allentown, which became a regional headquarters.
In December, BB&T said it was eliminating the Allentown headquarters in a consolidation of three Pennsylvania bank regions into two, and it axed two key senior executives, diminishing its corporate presence in the Lehigh Valley.
BB&T employs 360 people across its 32 branches in Lehigh and Northampton counties, as well as in Two City Center.
Separately Wednesday, BB&T and SunTrust said Charlotte, North Carolina, will become the corporate headquarters of the combined bank.
Once the deal is completed, Truist will be the sixth-largest bankholding company in the United States.