Truist, formed in 2019 by the merger of BB&T and SunTrust, is the 18th largest bank in DFW with $3.7 billion in local deposits.
visited Dallas this week so he could get a close-up look at the financial giant's expansion efforts in one of its most important markets.
During today's listening session, what did you hear from your employees? Did anything particularly stick out to you? DFW is an important market for you and it's a super competitive market. What is the significance of DFW to Truist and what are you trying to accomplish here We were talking today with the team about what's happened with the brand. I mean, think about what you just said. Three years ago, this name didn't exist. Truist didn't exist. We made this very conscious decision that we wanted to have a new brand. We wanted to build something that everyone could own together so they weren't winners and losers. Everybody was a winner.
Overall, in terms of the talent base, one of the things that we did and I think highly correlated with our purpose is we now have one of the highest minimum wages of anybody in financial services. That was very intentional. We want to really think about teammates that need us most. They are those that are most impacted by inflation, rising housing costs and all the things that are coming in, particularly in this market.
I think we're entering into it with a strong basis, I think different geographies will experience different components. We're entering a place where there are still lots of job opportunities.
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