BB&T Corp completed its merger with SunTrust on 12/6/2019 for BB&T Corp stock. The merged company then changed the name of the company to Truist Financial and the ticker symbol to TFC.

The SEC filing for this merger can be found through the new web site at:

https://ir.truist.com/sec-filings?o=100&year=2019 . Choose the S-4/A dated 6/19/2019. The tax consequences are described starting on page 112.

Resolution:

This merger is a standard merger. The information below is based on the information available from a form S-4/A filed with the SEC. Price information is from websites offering historical prices.

For BB&T shareholders, due to the name and ticker symbol change of BB&T Corp it may be better to use another merger transaction to reflect the name and ticker symbol change for BB&T Corp. While historical prices generally follow the new ticker symbol for a name and ticker symbol change, we received a report that this did not happen for a recent name and ticker symbol change. To ensure historical prices in your records for BB&T Corp do not change, we recommend the merger transaction for name and ticker symbol changes.

The Merger Entry For SunTrust Shareholders

Go to Transactions > Merger or Accounting > Securities > Record merger of securities depending on the version of the software being used. If you are unfamiliar with merger transactions you can get help at this URL: https://www.iclub.com/support/kb/default.asp?page=normal_merger

Here is the information needed for SunTrust shareholders to complete the merger.

• Date: 12/6/2019
• Old Security or Merging Company: SunTrust (STI)
• Price per share of old Security / STI:  Use last STI valuation, if needed
• Cash received:  See your broker statement for cash-in-lieu
• New Security: Truist Financial (TFC)
• New Security Price: 54.13   (Opening price on 12/6/2019)
• Shares received : 1.295 x (#of STI shares owned)
  • (Remember to include fractional shares.)
  •  For example, if you owned 100 STI shares, you should receive 1.295 x 100 = 129.5 TFC shares.

Save the transaction and the merger has been entered.

The Merger Entry for BB&T Shareholders to Change Name and Ticker Symbol of BB&T Corp

This is for all BB&T Corp shareholders holding shares on 12/5/2019.

Here is the information you need to complete the merger.

• Date: 12/6/2019
• Old Security or Merging Company: BB&T Corp (BBT)
• Price per share of old Security / BBT:  Use last BBT valuation, if needed
• Cash received:  See your broker statement for cash-in-lieu
• New Security: Truist Financial  (TFC)
• New Security Price:  54.13 (Opening price on 12/6/2019, the first trading day after name change)
• Shares received : 1 x (#of BBT shares owned).
  • (Remember to include fractional shares, if appropriate.)
  •  For example, if you owned 100 BBT shares, you should receive 1 x 100 = 100 TFC shares.

Save the transaction and the merger has been entered changing the name and ticker symbol of BB&T Corp (BBT) to Truist Financial (TFC).

Note: By using the merger transaction to cause the name and ticker symbol change, the return calculations for the return figures on the Valuation Statement for BBT will begin on the merger date. The returns reported will reflect how TFC performed since the name change. They will not reflect how BBT performed from the first acquisition date of BB&T Corp.