Sheffield Financial Announcement from Jeff McKay, CEO
WINSTON-SALEM, N.C. - BB&T and SunTrust have joined forces to become Truist Bank. Sheffield Financial has a proud history of being a division of BB&T/Branch Banking and Trust Company. Effective December 6, 2019, Sheffield Financial will officially be known as Sheffield Financial, a division of Truist Bank.
Sheffield Financial encourages dealers to continue sending in applications and doing business as usual. Sheffield Financial will continue to serve dealers with the same products and services delivered by the same Sheffield teammates.
Truist is the sixth-largest U.S. commercial bank, serving approximately 10 million consumer households and a full range of business clients, with a leading market share in many of the most attractive, high-growth markets in the country.
"This is a historic moment for Truist. Created from two companies with shared values and a deep commitment to building a better future for our clients and communities," said Truist Chairman and Chief Executive Officer Kelly S. King. "The completion of this merger is a tremendous achievement and a testament to the thousands of Truist teammates who have diligently worked to ensure its timely conclusion."
"With Truist, we're creating a new company with a bold, transformative vision to increase investment in innovative technology and create a distinctive teammate and client experience," said Truist President and Chief Operating Officer Bill Rogers. "We have much work ahead of us, but we're well-positioned to create meaningful change for the clients we serve and the communities where we live and work."
About Sheffield Financial
Jack and Bonnie Snow started Sheffield Financial in 1992 to help others enjoy an active, outdoor lifestyle. With only four employees, they provided 3.4 million dollars in loans for outdoor power equipment, powersport vehicles and one-axle trailers in its first year. In August of 1997, BB&T acquired Sheffield Financial adding powerful backing to the thriving company that helped grow the business to over $25 billion in financing. Today, Sheffield Financial continues outdoor adventure pursuits by continually expanding its outdoor lifestyle equipment loans for play, leisure and work.