Truist Is Finally Done With Merger Expenses. Now, the Bank Must Prove Its Worth.
In late 2019, BB&T and SunTrust completed the largest bank deal in a decade to become Truist Financial Corp (NYSE: TFC), the sixth-largest bank by assets in the U.S.
The closing of the merger, however, kicked off nearly three years of integration efforts that required heavy one-time costs and really blurred the story that the franchise was trying to tell. Since the start of 2020, Truist's stock has fallen more than 13%. Meanwhile, the KBW Nasdaq Bank Index (NASDAQ: BKX) is down about 2%, so investors have been waiting for the benefits of the merger to come through.
In its recent fourth-quarter earnings call, Truist's management team said the last of the merger-related costs have been incurred, which will allow the bank to shift to the offensive. Now, it's time for management to show the merits of the merger.
Source Fool.com
