Atlanta Business Chronicle, April 26, 2019: SunTrust, BB&T tout merger benefits
Merger partners SunTrust Banks Inc. and BB&T pledged a greater commitment to the community Thursday at a joint meeting of the Federal Reserve Board and the Federal Deposit Insurance Corporation.
Top executives with both SunTrust and BB&T emphasized their “strong performance under the Community Reinvestment Act” and the benefits of the proposed merger.
Speakers included SunTrust Chairman & Chief Executive Officer William H. Rogers, Jr., BB&T Director of Corporate Social Responsibility and Community Reinvestment Sharon Jeffries-Jones and SunTrust Enterprise Community Reinvestment Officer Lynette Bell.
Jeffries-Jones said the banks have held six listening sessions in Winston-Salem, Atlanta, Baltimore, Philadelphia, Richmond and Fort Lauderdale, in partnership with the National Community Reinvestment Coalition.
We heard communities’ concerns and recommendations related to the merger, and this information will be used to formulate our Community Benefits Plan.”
The plan will guide many of the reinvestment programs at the combined company, she said.
“We consistently heard four key themes: the importance of affordable housing for families, financial sustainability for individuals and businesses, philanthropic support for communities, and diversity and inclusion at every level in our footprint.”
