With the sale of RAC and LightStream, the next logical target is Sheffield. Anyone hearing anything?
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@js Truist is not for the every day folk. You hear it all the time in meetings and in press releases. Their focus is wealth management.... with that said, private wealth clients.
@cd I think you’re spot on, it’s really the only thing that makes sense in this continuous s$&t show.
Even that, Truist will have deposit problem. CD rates at Truist 3.25%, while PNC and Wells Fargo 4-4.25%.
Mike said a sale or merger isn’t a priority — right now. But the aggressive balance‑sheet cleanup, plus shedding national businesses like LightStream, and even analysts openly questioning the revenue loss, looks to me like preparation for a sale in the next 2–3 years. You’d expect massive layoffs, but also a major stock pop for shareholders. The real question is whether the Board has already decided to sell and the clock is running, or whether they brought Mike in simply to fix what Bill couldn’t.
Any further pruning that makes Truist cleaner for an acquirer — while reducing revenue in the process — would be a major signal. Moves like that weaken Truist’s long‑term independence but make the bank far more attractive to a buyer who wants a simple balance sheet with no messy integration obstacles like RAC, LightStream, or even Sheffield.
And if you were picking one CEO to prepare Truist for a sale to PNC, it’s hard to find someone better positioned than Mike Lyons. For him, it could even be a homecoming.
Wouldn't be surprised if there was
Just google Truist Bank Business Asset Sale 2025 - 2026. Plenty of publicly announced plans out there. All you can do is look for the classic warning signs, reduction in marketing that leads to reduction in work.