Truist is the sixth-largest bank in the United States by total assets

Truist Bank holds approximately $535 billion in total assets as of 2024, making it one of the largest retail and commercial banks in the country. The bank was formed in 2019 when BB&T Corporation and SunTrust Banks merged, combining two major regional institutions into a single national operation. This size places Truist behind only JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs in terms of assets held.

For account holders, bank size matters because it affects the services available to you, the number of branches and ATMs you can access, and the protections that cover your deposits. Truist's scale means you have access to a full range of banking products — from basic checking and savings accounts to investment services, wealth management, and business banking — all under one institution.

The bank operates more than 2,700 branches across 17 states and Washington, D.C., primarily in the Southeast and Mid-Atlantic regions, though it also has a significant presence in Florida, North Carolina, and Virginia. This branch network is smaller than the nationwide footprint of JPMorgan Chase or Bank of America, but larger than most regional banks.

Key Takeaways

  • Truist holds approximately $535 billion in assets, making it the sixth-largest bank in the United States.
  • Your deposits at Truist are protected by FDIC insurance up to $250,000 per account type, the same as at any other FDIC-insured bank.
  • Truist operates over 2,700 branches primarily in the Southeast and Mid-Atlantic, so branch access depends on your location.
  • The bank's size means you have access to a wide range of services, from basic accounts to investment and wealth management products.

What FDIC insurance means for your money at Truist

Bank size does not change how your deposits are protected. Truist is an FDIC-insured bank, which means the Federal Deposit Insurance Corporation guarantees your deposits up to $250,000 per depositor, per account type, at each bank. This protection applies whether Truist has $100 billion in assets or $500 billion — the coverage limit is the same.

Account type matters for FDIC purposes. A single checking account is covered separately from a single savings account at the same bank. Joint accounts are covered separately from individual accounts. If you have $250,000 in a Truist checking account and $250,000 in a Truist savings account under your name alone, both are fully protected. If you exceed $250,000 in one account type, the amount over the limit is not covered.

Truist's size actually provides some reassurance: larger banks have more capital reserves and are subject to stricter regulatory oversight by the Federal Reserve and the Office of the Comptroller of the Currency. This does not mean smaller banks are unsafe, but it does mean Truist operates under more intensive supervision.

How Truist's size affects the services you can access

Large banks like Truist offer a broader menu of services than smaller regional or community banks. At Truist, you can open a checking or savings account, explore for a mortgage or auto loan, invest through a brokerage account, and work with a wealth advisor — often all through the same institution. This convenience means you can consolidate your banking relationships rather than splitting accounts across multiple banks.

The trade-off is that large banks typically have less personalized service than smaller banks. A community bank with 10 branches might know you by name; a bank with 2,700 branches operates through standardized processes and customer service centers. Truist offers online and phone support, but the relationship is transactional rather than personal unless you work with a dedicated advisor.

Technology infrastructure is another advantage of size. Truist invests heavily in its mobile app, online banking platform, and security systems because the cost is spread across millions of customers. A smaller bank might not have the resources to maintain the same level of digital tools.

Truist's branch and ATM network across the Southeast and beyond

Truist's 2,700+ branches are concentrated in the Southeast and Mid-Atlantic, with the heaviest presence in North Carolina, Florida, Virginia, Georgia, and South Carolina. If you live in one of these states, you will likely have multiple Truist branches within a short distance. If you live in California, Oregon, or the upper Midwest, you may have no Truist branches nearby.

The bank's ATM network is larger than its branch network because Truist participates in shared ATM networks. Through the Allpoint network and partnerships with other banks, Truist customers can withdraw cash at thousands of ATMs beyond Truist's own machines. However, out-of-network ATM withdrawals typically charge a fee unless you maintain a may have access to account balance or pay a monthly fee for ATM reimbursement.

If branch access is important to you and you do not live in Truist's primary service area, online banking and ATM access become more critical. Truist's size means its online platform is robust, but you should verify that the bank's physical presence works for your situation before opening an account.

How Truist compares to other large banks in size and reach

Truist is significantly larger than regional banks like PNC, Fifth Third, or Regions Financial, but smaller than the "Big Four" national banks: JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup. This middle position means Truist has more resources and services than a regional bank but a narrower geographic footprint than the national giants.

JPMorgan Chase, the largest U.S. bank, holds over $3.7 trillion in assets and operates roughly 4,800 branches nationwide. Bank of America holds approximately $2.9 trillion in assets with over 4,600 branches. Truist's $535 billion in assets and 2,700 branches reflect a different business model — strong regional dominance rather than nationwide ubiquity.

For customers, this means Truist offers more stability and service breadth than a smaller regional bank, but you may have fewer physical locations than you would with JPMorgan Chase or Bank of America if you travel frequently or live outside the Southeast.

What happened when BB&T and SunTrust merged to create Truist

Truist was created in December 2019 when BB&T Corporation and SunTrust Banks completed a merger of equals. BB&T, based in Winston-Salem, North Carolina, and SunTrust, based in Atlanta, Georgia, were both major regional banks with overlapping service areas. The merger combined their assets, branches, and customer bases into a single institution.

The merger was significant because it reduced the number of independent large regional banks in the United States. For customers of either bank, the merger meant account consolidation, branch closures in overlapping markets, and a transition to unified systems and products. Most customers saw little disruption, though some branches closed and some products were standardized across the combined bank.

The merger also created a bank large enough to compete more effectively with the national giants while maintaining a strong regional presence. Truist now ranks among the top 10 U.S. banks by assets, a position neither BB&T nor SunTrust held independently.

Frequently Asked Questions

Is my money safe at Truist because it is a large bank?

Your deposits are protected by FDIC insurance up to $250,000 per account type, regardless of the bank's size. Truist's size does mean it operates under strict federal oversight and maintains substantial capital reserves, but the FDIC may provide is what actually protects your money, not the bank's assets.

Does Truist have branches in my state?

Truist operates primarily in the Southeast and Mid-Atlantic: North Carolina, South Carolina, Georgia, Florida, Virginia, Maryland, Delaware, Pennsylvania, New Jersey, and Washington, D.C. are the main states. You can search Truist's website for branch locations, or call 1-800-872-2657 to confirm whether a branch is near you.

Can I use Truist ATMs outside the Southeast?

Truist ATMs are concentrated in its service area, but you can withdraw cash at thousands of other ATMs through the Allpoint network and partner banks. Out-of-network withdrawals usually charge a fee, though some Truist accounts reimburse these fees if you maintain a minimum balance or pay a monthly fee.

Why did BB&T and SunTrust merge?

The merger created a bank large enough to compete with national institutions while maintaining regional strength. Both banks were strong regionally but smaller than the "Big Four" national banks. The combination gave the merged bank more resources for technology, products, and services.

Is Truist still growing, or is it the same size as when it was created?

Truist's asset size has fluctuated with market conditions and business performance since 2019, but it has remained in the top 10 U.S. banks. The bank continues to add customers and services, though major growth now comes from customer acquisition and product expansion rather than mergers.