Truist Bank Closing Dozens Of Virginia Branches Including 10 In Richmond
It was predicted in 2019 when banking giants SunTrust and BB&T merged to become Truist Bank that the marriage would lead to large-scale branch overlap and consolidation in many states, particularly several markets in Virginia.
Now, more than a year later, that consolidation has begun in earnest across the commonwealth, including in the Richmond region.
The combined bank recently closed a BB&T branch at 1366 Sycamore Square Drive in Midlothian and a SunTrust branch at 12551 Jefferson Davis Highway.
The pair was among 28 branches Truist closed across Virginia on Dec. 8, according to a notice it filed with the State Corporation Commission.
And theres more to come.
A Truist spokeswoman said Monday the bank plans to close an additional 41 branches in Virginia this year, including eight in the Richmond market in notable areas such Short Pump, Church Hill and Willow Lawn.
The eight local branches, which all will close March 2, are being consolidated into nearby branches, part of Truists effort to create what it calls blended branches.
Our blended branch concept, introduced in November 2020, is a natural next step for the many SunTrust and BB&T branches that are very close in proximity, many across the street or even in the same parking lot, a spokesperson said in an email.
Here are the Richmond-area branches set to close March 2 and the locations theyll be combined into:
That included 71 locations around metro Richmond 35 from SunTrust and 36 from BB&T.
For Now Bank With Us As Usual
For the immediate future, there will be no changes to the following BB&T accounts and services:
- Checking, savings and money market account numbers
- Checks and deposit slips
- Direct Deposit and automatic drafts
- Paper and online statements
- ATM cards, debit cards, credit cards, and associated PINs
- Online and mobile banking with Bill Pay and transfers
- BB&T Alerts
- Loans and lines of credit
- Treasury Management
- Brokerage and advisory accounts offered by BB&T Securities, LLC
- Trust accounts
Monument Garden And Statues
Unlike Turner Field, Truist Park does not have a stand-alone Braves museum. However, a well-appointed space in the main concourse behind home plate, Monument Garden, displays many highlights of franchise history. The Monument Garden features audio, light and water elements. The Braves partnered with Atlanta-based A-R-T & Associates to create a visual experience for Braves fans. The baseball-centric artwork highlights nostalgic moments throughout Braves franchise history. The 300-piece installation consists largely of original artwork ranging from portraits to action scenes, and complemented by macro photography, oversized vintage baseball cards and a LEGO brick mosaic. The Braves took memorabilia from the Ivan Allen Jr. Braves Museum & Hall of Fame at Turner Field and incorporated it throughout the ballpark.
The focal point of Monument Garden is a statue of Hank Aaron. The statue was created and unveiled by Atlanta-based artist Ross Rossin. The statue captures the moment on April 8, 1974, at Atlanta-Fulton County Stadium when Aaron broke Babe Ruth‘s long-standing 714 career home-run record. Behind the statue is a sculpture made of 755 baseball bats in honor of Aaron’s career home-run total. A video screen plays an Aaron biography. Other statues will be placed throughout the stadium. The bat and ball from his 715th home run are displayed in the Hank Aaron Terrace above left field.
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What Does Bb&t Bank Offer
As a large full-service regional bank, BB&T offers an extensive menu of accounts and services to its customers. For most deposit accounts customers can choose from several options that fit their needs and budget.
BB&T Bank customers have several options for their checking needs. These include two standard checking accounts, a student account, a senior account, and a premium account.
Customers using the banks ATM card can use any of its 2,400 ATMs without a fee. If you use another banks ATM, BB&T Bank will charge you $3 per transaction.
|BB&T BANK CHECKING ACCOUNTS|
|0.01% for deposits under $100,0000.03% for deposits from $100,000 to $99,999,999,999|
Money Market Accounts
There are three money market accounts available from BB&T.
|BB&T BANK MONEY MARKET ACCOUNTS|
There are three savings accounts offered by BB&T.
|BB&T BANK SAVINGS ACCOUNTS|
There are four types of CDs to choose from at BB&T.
- Personal CDs These offer a guaranteed rate of return for up to five years.
- Personal CD Specials These are available for a limited time and the rates and terms vary.
- Cant Lose CDs These protect customers whether rates rise or fall.
- Stepped Rate CDs These provide interest rates that are guaranteed to rise once a year, every year.
The bank charges an early withdrawal penalty if you withdraw money before the CD matures. Penalties vary depending upon the length of the CD term.
|BB&T BANK CD RATES|
Who Is Truist Bank
In the summer of 2019, BB&T and SunTrust started merging to form Truist Bank. The merger took a step forward in December 2016 with the formation of Truist Financial, creating the 6th-largest bank.
It was a merger of equals with the two banks having $228 billion and $220 billion in assets, respectively. Truist Bank is based out of Charlotte, North Carolina, putting it in between the two old banks. SunTrust is headquartered in Atlanta, and BB&T is out of Winston-Salem, North Carolina.
BB&T and SunTrust continue to operate as stand-alone entities, while they continue working to complete the merger. âThe whole essence of Truist is about two great, iconic, old companies coming together to form a new organization that is looking forward,â Truist CEO Kelly King told CNN Business.
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Suntrust Bank Holiday Hours
SunTrust, like the majority of American banks, follows a modified schedule during the holidays. The mobile app above should give you the ability to tend to all your banking needs straight from your fingertips. In case you need to visit an actual brach or ATM, weve listed the SunTrust Bank holiday hours in the table below this paragraph. Generally, SunTrust Bank is open on Mothers Day, Fathers Day, Valentines Day, Good Friday, Easter Monday, Black Friday Halloween, and a list of other holidays shown in the table below. SunTrust Bank hours during the holidays may not necessarily be closed on certain day, but have modified hours; this is the case for Eve. SunTrust Bank will close early on both New Years Eve and Christmas Eve for most branches.
On the other hand, SunTrust Bank is closed on New Years Day , Presidents Day, MLK Day, Easter Sunday, Memorial Day, Independence Day , Veterans Day, Columbus Day, Labor Day, Thanksgiving Day, and Christmas Day. Please note that just like regular SunTrust hours, SunTrust holiday hours can vary and are subject to change. The SunTrust Bank holiday hours listed below are a general reference and may not apply to all SunTrust branches. We recommend checking with your neighborhood branch to find its exact SunTrust holiday hours; you can also use any of the 3 tools outlined above to find this information.
How To Bank With Bb&t Bank
You can open an account online, over the phone, or at a branch, of which there are more than 2,900 available in Washington, D.C., and the following states:
- West Virginia
BB&T Bank is a full-service regional bank well suited for customers who live near one of its branches. It has most of the account types that a customer would want, but its interest rates are not competitive with other banks. That being said, the bank does offer multiple checking account options to meet your needs and budget. It would do well as a primary bank for day-to-day needs.
Customers looking for high-yield savings accounts, money market accounts, and CDs should look elsewhere. BB&T Bank does offer tiered pricing for higher deposit levels, but the interest rates are much lower than the alternatives.
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You Should Switch To Truist Bank
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History Of Southern National Bank
In 1897 the Bank of Lumberton was started by Angus Mclean in Lumberton, North Carolina, the predecessor of Southern National. The founding board members of the bank were Angus Mclean, Thomas McNeill, R.D. Caswell, C.B. Townsend, S.A. Edmund, R.L. Steele, W.L.F. Steel, T.C. Guthrie, H.B. Jennings. The board was composed of members from Lumberton, Rockingham, North Carolina, and Bennettsville, South Carolina. Thomas McNeill was selected to be the bank’s first president. Unfortunately he resigned a year later when he was appointed a judge. After McNeill resigned Mclean became president. Mclean did not simply view himself as a banker, he wanted to build companies that had a good return on their investment, created jobs, and benefited the communities they operated within. In 1955 Hector MacLean, Angus Mclean’s son, was named president. The Bank of Lumberton changed names to Southern National Bank in 1959.
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Truist Bank Routing Numbers
This can get a little tricky to look up because Truist Bank is a merger of two banks, BB&T and SunTrust. The ABA routing number you use will depend on where you opened your account. The simplest way is to look on your personal checks but if you dont have one, youll have to use this:
If you previously had a BB&T account, your ABA routing number will be based on the state you opened your account:
Fortunately, SunTrust is easier. The SunTrust ABA routing number is 061000104.
What Do They Offer
The truth is that, currently, Truist is just a name. Both BB&T and Truist have a link to Truist: BBT.com/truist and SunTrust.com/truist. But when you visit those landing pages, thereâs just stuff to read. You wonât find any available products, promotions, or even a way to open a Truist Bank account.
BB&T and SunTrust customers will become Truist Bank customers at some point. So if you really want to be part of Truist in the future, the best way to do so right now would be to open an account at either BB&T or SunTrust.
BB&T and Suntrust are both full-service, brick-and-mortar banks. If you go to either bankâs website, youâll see that they even resemble each other, with some web pages sharing the same images. However, each bank does currently offer different products.
To give you an idea of what BB&T, SunTrust, and eventually Truist Bank products look like, weâll focus on checking and savings accounts.
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History Of Suntrust Banks
SunTrust Banks is the combination of three companies, two banks based in Georgia and an investment company. The three companies are Trust Company of Georgia, Sun Bank, and The Robinson-Humphrey Company.
On September 21, 1891 what subsequently became the Trust Company of Georgia was started by John M. Green, Joel Hurt, H. L. Atwater, W. A. Hansell, T. J. Hightower, J. G. Oglesby, J. D. Turner, John B. Daniel, Joseph Hirsch, Leon Lieberman, Louis Wellhouse, A. J. McBride, D. O. Dougherty, W. A. Gregg, W. W. Draper, A. C. Hook, W. T. Ashford, George W. Brooke, C. I. Branan, and C. D. Montgomery. In November 1893, it restructured as a trust company and renamed itself Trust Company of Georgia.
The earliest predecessor of Sun Bank was founded in 1911 as The People’s National Bank in Orlando, Florida. In 1920, it became the First National Bank. In the early 1930s, during the Great Depression, the First National Bank and Trust Company failed. It was reorganized on Valentine’s Day 1934 as the First National Bank at Orlando. In 1973, the bank merged with other Orlando banks to become SunBanks. As of December 31, 1973, it had three bank-related subsidiaries and total assets of $1.713 billion. In 1985 the Trust Company of Georgia and Sun Banks Inc. merge to form SunTrust Banks Inc..
Truist Rising: With Megamerger Done Pressure On To Deliver
The BB&T-SunTrust deal is officially sealed, but top executives Kelly King and Bill Rogers acknowledge that their work has only begun.
Ultimately, their No. 1 job will be to prove that the biggest merger since the financial crisis valued at $30.8 billion based on the $53.48 closing price of BB&Ts stock on Thursday was a good idea.
The combined company, called Truist Financial, has $470 billion in assets, $303 billion in loans and $327 billion in deposits. The deal was completed Friday, 10 months after it was announced.
King, Truists chairman and CEO, and Rogers, the companys president, chief operating officer and CEO-in-waiting, are focusing initially on cutting $1.6 billion in expenses while identifying revenue opportunities. They said they are confident Truist will hit its financial targets.
A big part of the cost-cutting plan branch closings is still being evaluated. Truist agreed to divest 30 branches to resolve antitrust concerns, but in an effort to reassure customers it pledged to keep all of its remaining branches open for at least a year after the deals completion.
Final systems integrations need to be completed, many employees will have to relocate to a new headquarters in Charlotte, N.C., and questions will have to be answered about job cuts.
Here is an edited transcript of the conversation.
With the deal complete, where are you with cost-cutting plans?
What about revenue opportunities?
Any update on the new Charlotte headquarters?
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How Does This Promotion Compare
SunTrust has a comparable offer to whats currently available. The $200 bonus is solid but the deposit requirement may be high for some people.
Citi Priority Account $300, $700, or $1,500
Citi Priority is offering $300, $700, or $1,500 bonus when you open an account by 10/4/2021. Then, within 20 days of opening your account, deposit at least $15,000 in New-to-Citi funds and keep it there for 60 days. The bonus amount is based on how much you can transfer but the lowest tier starts at $15,000.
Chase Total Checking® $225
Chase Bank will give you $225 when you open a Total Checking account and set up and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
HSBC Premier Checking $600
HSBC has an offer where you can get up to $600 with a 3% cash bonus checking offer on qualifying direct deposits each month for the first six months of opening. Its one of the more interesting deposit bonuses as it doesnt rely on your account balance being a certain size.
Huntington Bank up to $500
If you are a resident of Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, or West Virginia then you could get up to $500 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but theyre great offers if you live in their geographic region.
No matter which offers you choose, you walk away with a few hundred dollars for your trouble!
Who Is Bb&t Bank Best For
BB&T Bank should appeal to consumers living within the 17 states where it has branches. It may be a good fit if you:
- Live in one of those states
- Want a full-service bank that offers loans, deposits, and investments
- Are looking to open a checking or savings account with $100 or less
- Want a checking account with a low monthly fee
- Desire a savings account with no monthly fee
- Want flexible options with your CDs
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Public Hearing And Vote
Two weeks after the Atlanta Braves announced the new stadium project, the Cobb County Commission held a public hearing to vote on whether to approve the plan. Residents who both supported and opposed the plan began crowding into the meeting hall hours before the 7 p.m. hearing was to begin, many sporting “Cobb: Home of the Braves” T-shirts. After a one-hour public comment on the new stadium project, the Cobb County Commission voted 41 to approve a memorandum of understanding with the Atlanta Braves. On May 27, 2014, the Cobb County commissioners voted unanimously, 50, on the operating agreement that bound the county to borrow up to $397 million to build the new stadium.
Changes For The 2018 Season
Inside the stadium 16 semicircular tables, each with four swivel chairs, replaced the top six rows of seats in sections 122 and 130, which are along the first-base and third-base lines. The change was made because the 80 four-person tables in the stadium’s original design, all on the terrace level, sold out quickly last year. The Delta Sky360 Club open to fans in about 1,800 lower-level premium seats between the dugouts, including those at the new tables was expanded by about 2,000 square feet . The additional dining and kitchen space was gained mostly by eliminating a media interview room.
Outside the stadium the 264-room, 4-star Omni hotel and the Comcast office building, both of which overlook the stadium, opened during the Braves’ offseason, adding energy and activity beyond the outfield. Two-dozen shops and restaurants now are open throughout The Battery. The latest addition is “eat-ertainment” concept Punch Bowl Social. About 75% of the available retail and restaurant space in the mixed-use development will be occupied on the Braves’ opening day.
The playing field has been resodded, and the plants that struggled in the low-light “Monument Garden” area have been replaced.
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