MEDIA ADVISORY: MARK OWENS COMMENTS ON BB&T/SUNTRUST MERGER

MEDIA ADVISORY: MARK OWENS COMMENTS ON BB&T/SUNTRUST MERGER

Winston-Salem (February 7, 2019) – This morning, BB&T and Suntrust Bank announced a Merger of Equals affecting the presence of BB&T’s headquarters in Winston-Salem. The merger will create the sixth-largest U.S. bank with combined assets of $66 billion. When BB&T, based in Winston-Salem, and Suntrust, based in Atlanta, combine, the new company will be headquartered in Charlotte, NC. The companies have jointly announced that they will maintain current levels of community investments in both cities. BB&T’s Community Banking Center will remain in Winston-Salem.

Mark Owens, President and CEO of the Winston Salem Chamber, comments on today’s news:

“While this news isn’t what we wanted to hear, we are confident that our relationships will continue to grow and the new institution will remain committed to Winston-Salem. Knowing that Community Banking, the heartbeat of BB&T, will remain here reaffirms that commitment.”

“Winston-Salem has a well-balanced economy with a growing workforce that’s poised to adapt well to disruption and maximize the potential benefits when it occurs, such as it has with the announcement today. We understand BB&T’s decision to pursue this merger to thrive, and will work with the new institution’s leadership to show the value in retaining and even growing their current workforce here.”

“Our mission is to bring this community together to make Winston-Salem the best place for businesses large and small to succeed. That is what we will continue to do, while we support and cultivate even more homegrown businesses to create the thriving economy of the future.”

Mark Owens and other community and economic leaders will continue to collaborate together, and with BB&T representatives, throughout the upcoming transition.

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About The Greater Winston Salem Chamber of Commerce

The mission of the Greater Winston Salem Chamber of Commerce is to provide and advocate for the best environment for businesses of all sizes– because when businesses succeed, the community thrives. The Chamber represents nearly 1,200 businesses and organizations, convening the community to work together, create together, learn together, and grow together. The Chamber’s initiatives include economic development, advocacy, workforce development, career readiness, and small business support. 

The Chamber is an independent nonprofit organization with a history dating to 1885. For more than 130 years, the Chamber has been integral in the evolution of Winston-Salem and Forsyth County. Through collaboration, creating connections, and sparking conversations, the Chamber continues to drive the vision of Winston-Salem’s future, together with our members and the community.