ATLANTA, July 30, 2019 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) shareholders today approved the agreement for the merger of equals of SunTrust and BB&T Corporation (NYSE: BBT). This completes another step in the process to form the premier financial institution, Truist, serving approximately 10 million U.S. consumer households and a full range of business clients.
At a special meeting of shareholders held today, nearly 99 percent (98.96) of the shares voted were cast in favor of the proposal to approve the merger agreement with BB&T.
"We are very pleased with the enthusiastic approval of our shareholders for the merger of SunTrust with BB&T to form Truist," said SunTrust Chairman and CEO Bill Rogers. "Our best path forward is to align with a partner that values a purpose-driven approach, sound risk management and leading technology. We found that in BB&T. Together, our combined scale will allow us to compete more effectively while enhancing our client experience and community support."