Executives from US Bank were in Charlotte yesterday and met with Bill, Mike M and the Board. There is a concerted effort to merge both banks. This is from a viable source. Truist as we know it won’t be around after first half 2025.
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The board could have been virtual on teams
I work at the top at Truist. I know for a fact Bill did not meet with USB. Also there are no board members in town this week. Stop posting false information. This forum should be informative and keep folks in the know.
At a barber shop
Who said that USB execs were inside the Truist offices? OP simply states that execs from both companies met for merger talks. Talks could have taken place at a strip club 💈for all we know.
Truist wants US Bank out of its tower. Makes sense. Also USB has about 1000 employees in the Charlotte area, mostly in risk.
Guys this isn’t happening. Not only is USB nowhere near ready for another merger (it can’t handle the one it just did), these execs would not be d-mb enough to be roaming around the halls of either company’s HQ. They’d be offsite.
This post is hilarious, some really d-mb individuals working at Truist. A merger with USB, too funny!
Truist is filled with low IQ individuals. If you combine two banks that are 1/5 the size of Wells, you don’t end up with a bank bigger than Wells
USB is horrible at mergers. If not for the UB folks , USB would have sc--wed up the acquisition. That aside, USB has a capital problem. They still owe MUFG $3.4B( public knowledge) that they borrowed to buy UB. MUFG also owns 4% of USB and they aren’t big consumer bank fans. Besides USB has a $400M miss on projects and process improvements that did not pan out, hence all the layoffs. USB is full of really bad managers and heavy on the MCKinsey koolaid. Even though both Truist and USB need a merger to catch up to Citi or Wells, they would potentially really sc--w up customers or the banking system.. don’t forget the regulatory issues for both banks.
USB and Truist are in the same building in CLT. It’s not unlikely to see them together especially since they likely know each other.
Merger with US Bank? I believe the appetite is there but this sht box can't even whipe its own a* without a finger in the a**hole. The Source seems to be the only technology we have. At this point, we might as well merge with Taster's Choice.
Seems to be a lot of wannabe gang of 24 in this thread. @1zyh+1sT5ayLn seems to be the only person with any smarts
Seems plausible but here are a few things to consider:
- if such a meeting did happen, it likely happened in an office attached to an airplane hanger at a private airfield - so you wouldn’t have seen execs from either bank walking around together in CLT
- currently, both banks are awkwardly trying to digest large mergers and the regulators are painfully aware of this - the likelihood of receiving regulatory approval to merge while still going through integration pains is very, very, very, very low.
- if TFC is getting bought, it isn’t going to be by another bank with a large unrealized loss in its securities portfolio and a concerning CRE loan concentration.
Incorrect saying another big bank won't be allowed. Actually the most clueless comment on this site to date.
I have a direct like to Billy, so I should get a wind of M&A. Stay tuned! If you see a message from “me” you know it is from me!
The OCC, Federal Reserve and FDIC don’t reject a merger because of random opinions or politicians. Specific criteria are considered. CAMELS ratings and statutory deposit caps are the main concerns, debt alone isn’t a consideration.
Combining Truist and US Bank would create a new competitor for Chase, BAC, Wells and Citi, though the combined company would still be the smallest of the 5. After runs on SVB, yet more concentration occurred among the big four while liquidity risk at small banks increased.
It’s only ever delusional to completely rule something out or not truly understand the entire the bigger picture.
Quite a few leaders from Truist have went to U.S. Bank.
All will be fixed in the next election. Interests of only the wealthy elite will no longer be a priority like it is today.
***both parties cater to the elites. You seem to be saying Trump doesn’t. That is so incredibly absurd I can’t formulate a response.
Also-I should catch wind if there are merger plans and will be sure to let you all know if I hear something.
Lot of delusional post in this thread. Zero chance of regulators allowing this to happen, also today the two banks have a combined 135 billion in debt on the balance sheets. Pubs are unlikely to regain any control as DT is too polarizing at this point. Lots of Pubs won’t pull the handle for him and as always the suburbs won’t support him and that’s where most white women reside. Another trillion dollar bank will not be allowed.
A merger of US Bank and Truist would make it a top 3 bank; likely bigger than Wells. Unfortunately, the money from that TIH sale is burning a hole in someone’s pocket because, I can see this as feasible.
Good luck! US Bank just went through disastrous Union bank merger and they fired nearly all Union Bank employees. Sounds insane but true. I work there.
Reading through threads for US Bank on The Layoffs doesn't give me a warm and fuzzy about this. They are as sc--wed up as we are... :(
OP has low IQ. Truist, US Bank and PNC are in no mans land, a merger does nothing because we’re too small to make any difference to anyone, we’re just stuck
Kelly king sc--wed the BBT customers, and employees, with his pet project truist ... now the bumbling bill rogers sells out all of them again ... he just wants golden parachute since the untrustworthy management that took over couldn't run a ice cream stand in the tropics .... it is sad for the idea of earn based on merit.
https://www.thelayoff.com/t/1sUcpOIs
The unconfirmed rumors about the sale of TIH started a year before the sale was announced, and lots of people said that was ridiculous and never going to happen because of whatever.
Interesting indeed I guess no one realizes there was no board meeting USB is in the same building as TFC - anyone who has any real knowledge of mergers like that - the conversations would occur in a very discrete location - plus it’s clear regulators are not interested in creating another trillion bank
Pretty clear echo chamber running rampant again with zero facts just making stuff up
Both garbage banks that pay unusually high dividends to shareholders. Not sure abt Truist but US bank technology is in the stone age.
Lord help us if a dysfunctional bank like US bank purchases Truist...look no further than the acquisition of Union Bank.
Truist's sale of insurance biz certainly was a red flag to me.
If Bill and his cronies lose out to US Bank executives then I love this. Beyond that…
US Bank has a cash balance pension
Hybrid at US Bank is 3 days per week
Not much operational overlap, US Bank big in mid-west and West. Truist big in VA, NC, GA, SC, FL. Would be good for some roles.
Less mature and unproductive Truist corporate type functions would probably get whacked and they have it coming anyway (looking at you Risk and Marketing)
I just trolled the US Bank Layoff.com and no mention of Truist. Shocker! Also, been thru many mergers and we trolls are the LAST toknow.. you know, insider trader and all.... next topic please! :-)
Imagine thinking approval for a merger takes less than 6 months.
Y'all posting in a troll thread
We would need to be an attractive size prior to a deal. So get ready for more divestments of businesses and more layoffs.
I’m not going through another merger. Resume time.
Comment from @vam+1sT5ayLn just shows total ignorance. (and nice try at slamming "boomers" again - though I think if you knew who boomers were you'd see that the pension covers a lot more "generations" than boomers since the youngest boomers turn 60 this year). The pension doesn't "go away". Any "boomers" still left at Truist probably have many years of service and have a nice pension built up that they won't lose. Possibly they will have to accept a lump sum vs the annuity. Maybe you'd be better of researching things before making inaccurate comments.
Pension funds are protected by federal law. If a merger happened and the pension was discontinued, it will not increase in value but (if you're vested) then you won't lose money even if they choose to do a lump-sum payout.
Get ready for some layoffs!
Yep. Heard that also. All I can say is bye bye pension. All you boomers hanging on til retirement can kiss your pension goodbye, as there won’t be one.
Will be significant layoffs as well. Bill and Co. will pitch the BS of cost savings opportunities, synergies, etc. but as we all know that won’t happen without layoffs due to systems and platform consolidations, among other reasons