Truist - New HQ (BB&T-SunTrust Merger)

[Miesian Corners]

[KJHburg]

Sun Trust and to a lesser extent BB&T are huge in Florida and have some good buildings especially in downtown Tampa for Sun Trust.  Heard a radio ad for Sun Trust advertising checking accounts or something and at the end said a "Truist Bank"    does anyone know the new Truist market share in Florida?  It has to be in the top 3.  

1. BB&T building in downtown Tampa (I would vacate out of this one) 36 stories 458 feet  1981 

2.3. newer Sun Trust Financial Centre  36 stories and 525 feet tall  1992

 

 

[CLT704]

4 hours ago, KJHburg said:

Sun Trust and to a lesser extent BB&T are huge in Florida and have some good buildings especially in downtown Tampa for Sun Trust.  Heard a radio ad for Sun Trust advertising checking accounts or something and at the end said a "Truist Bank"    does anyone know the new Truist market share in Florida?  It has to be in the top 3.  

According to the FDIC, the largest banks- and this includes investment banks AFAIK- in Florida up to June 2019 are (deposits ($000) and market share):

1. Bank of America: $115,813,293 - 19.19%

2. Wells Fargo: $79,047,506 - 13.10%

3. SunTrust: $48,228,980 - 7.99% 

4. Chase: $38,442,747 - 6.37% 

5. TIAA: $25,425,423 - 4.21%

6. Raymond James: $22,314,135 - 3.70%

7. BB&T: $18,257,417 - 3.03% 

 

So, Truist will be the third largest bank in Florida- like SunTrust- with $66,486,397,000 in deposits and 11.02% market share. 

 

 

[AuLukey]

Found this gem at MIA

[KJHburg]

honestly this Truist bank footprint is in the hottest growing states like Florida, NC SC TN and even Texas wealthy cities like DC etc.  They may not be coast to coast but they are in some great fast growing markets in the US

[KJHburg]

Truist talks about their merger efforts in conference call today and about branch overlaps.

https://www.bizjournals.com/charlotte/news/2020/01/30/truist-financial-execs-outline-top-priorities-as.html

[KJHburg]

Buried in this article about Truist Bank is where the new tech center is going.   It is going uptown right at the Truist (Hearst) Tower from the article

""Also of note is Truist's plan for a technology and innovation hub in Charlotte. Rogers said it will be based out of the soon-to-be Truist Center at 214 N. Tryon St. The bank is under contract to purchase that North Tryon office building, currently known as Hearst Tower, for $455.5 million. Executives were previously unsure of where to position the technology hub. But Rogers said having it within the corporate headquarters will allow the company to be engaged in the innovation process. It will also be easier to see how clients want to interact with the company, he added.""

I am guessing this will mean all other tenants will need to move out to accommodate this which of course is in the process of happening.

https://www.bizjournals.com/charlotte/news/2020/01/30/president-oftruist-financial-emphasizes-focus-on.html

[CLT2014]

The former trading floor could make a good open concept dev space for scrum teams. 

[atlrvr]

Or a good trading desk for Truist's capital markets business that they definitely plan to grow. 

[NcSc74]

Heard Warrick Dunn of Florida State and ATL Falcon fame name drop Truist Bank on Sirrius FM.  He has partnered with them doing a charity event tied to the Super Bowl.

[j-man]

Hoping to one day open this thread up one day and see a new tower proposed. Ugh

[videtur quam contuor]

12 hours ago, NcSc74 said:

Heard Warrick Dunn of Florida State and ATL Falcon fame name drop Truist Bank on Sirrius FM.  He has partnered with them doing a charity event tied to the Super Bowl.

Warrick Dunn building homes for years. 

https://wdc.org/

Edited January 31, 2020 by tarhoosier

[Urban Cowboy]

Truist purple is gone! I am so relieved!!! You can actually see Hearst at night again.

[A2.]

Praise God! I hated the purple! Drove by on my way through last week, and literally had to squint to even see the purple. Let the tower shine the way it was intended. Put your signage at Street level and be happy. 

 

A2

[KJHburg]

From the CEO himself about the merger and real estate footprint in Charlotte from a subscriber article in Biz Journal

""Truist is set to close on its purchase of what is now Hearst Tower. Is it the bank’s preference to own its corporate real estate rather than lease it?  We generally prefer to own buildings. The simple reason is, our cost of capital is lower than most of the companies that would lease to us, so it’s just economics.  The bank is currently anchor tenant and has naming rights at BB&T Center. What's the future for the bank there as well as the buildings it owns at LakePointe Corporate Center?   We have not made a final decision in regard to that. We’re focused on getting things moving in the Truist Center. Our people are working on an integration plan.  We will have multiple buildings in Charlotte. Even though the Truist Center is a very large building, we will still have multiple buildings. We love the buildings out at LakePointe. Those are fantastic buildings. You'll see some consolidations of those kind of back-room corporate office buildings, but we really haven’t decided which ones.  
You mentioned multiple office buildings. Do you see much of Truist's office real estate in uptown?  We really like being in uptown because uptown is the heart and soul of ... the city of Charlotte. We want to be right in the middle of the financial district. We want to symbolize that we’re here as a major player and we want to be a part of the financial district, but we (also) want to be a part of the leadership to help improve the entire metro Charlotte area. In really every major city that we’re in, we try really hard to be in the major financial district.  ""

and this last little dig at some other big Charlotte banks LOL
""Are you concerned about finding talent in a competitive market like Charlotte?  There are some great financial institutions in Charlotte that are second to Truist, and so I think they may have a little challenge, but we won’t.""

https://www.bizjournals.com/charlotte/news/2020/02/25/exclusive-truist-ceo-talks-post-merger-moves.html   the interview deals with a lot of other topics including don't be looking for conversion to Truist on the branch level at least for another year in local area. 

[SentioVenia]

From yesterday.  Click on photo for ultra high-res:

[Jasons0013]

2 hours ago, SentioVenia said:

From yesterday.  Click on photo for ultra high-res:

That security guard about to tell you "No Pictures!"

[Urban Cowboy]

A work of art.

[thenewkage95]

That security guard about to tell you "No Pictures!"

How is it that we’re not allowed to take pictures? If I’m on public property, why can’t I photograph a skyscraper from the ground?


Sent from my iPhone using Tapatalk

[dubone]

6 hours ago, thenewkage95 said:

How is it that we’re not allowed to take pictures? If I’m on public property, why can’t I photograph a skyscraper from the ground?
 

You have the legal right to photograph it from public property.   They have the legal right to say literally anything to you, including incorrectly stating your rights.  

[CarolinaDaydreamin]

9 hours ago, dubone said:

You have the legal right to photograph it from public property.   They have the legal right to say literally anything to you, including incorrectly stating your rights.  

Exactly. Turner vs. Driver was a Federal court decision that stated that anything you can photograph anything you can see from publicly owned right of ways as a first amendment right, including Police. 

[KJHburg]

I was once told at Hearst Trusit tower I could not take a photo but I stepped back to the sidewalk which is public property and took one when she turned around.  BofA is funny about their security and they don't like you taking photos inside or close up of their buildings.  However on a public sidewalk I can and will take photos of anything I want and another thing the KJ is very quick and often walk and take photos.    that is 4 things I can do at once talk, walk, take a photo and chew gum LOL

[QCxpat]

8 hours ago, CarolinaDaydreamin said:

Exactly. Turner vs. Driver was a Federal court decision that stated that anything you can photograph anything you can see from publicly owned right of ways as a first amendment right, including Police. 

The holding in Turner v. Driver is somewhat narrower.  Here is the factual background and the court's holding, as summarized by Justia US Law: 

Turner v. Driver, No. 16-10312 (5th Cir. 2017)

Justia Opinion Summary

"Plaintiff filed suit under 42 U.S.C. 1983 against three officers and the City of Fort Worth, alleging violations of his First and Fourth Amendment rights.  Plaintiff's suit stemmed from his arrest after he was video recording a police station from a public sidewalk and refused to identify himself to officers. The district court granted the officers' motion to dismiss based on qualified immunity.  The court concluded that all three officers are entitled to qualified immunity on the First Amendment claim because there was no clearly established First Amendment right to record the police at the time of plaintiff's activities.  The court explained for the future that First Amendment principles, controlling authority, and persuasive precedent demonstrate that a First Amendment right to record the police does exist, subject only to reasonable time, place, and manner restrictions. The court also concluded that Officer Grinalds and Dyess's initial questioning or detention of plaintiff before he was handcuffed was not objectively unreasonable in light of clearly established law.  Therefore, Grinalds and Dyess are entitled to qualified immunity on plaintiff's claim that they violated his Fourth Amendment right to be free from detention absent reasonable suspicion.  However, the court concluded that no objectively reasonable person in these officers' position could have believed that there was probable cause to arrest plaintiff and thus they are not entitled to qualified immunity on plaintiff's Fourth Amendment claim that the officers violated his right to be free from warrantless arrest absent probable cause.  Finally, Lieutenant Driver is entitled to qualified immunity on plaintiff's Fourth Amendment claims where Driver acted objectively reasonably in light of the circumstances.  Accordingly, the court affirmed as to this claim."

 

[atlrvr]

Not a lawyer, so trying to decipher the above.  Basically, police can question you and even tell you to stop taking photos, but they can't actually arrest you for it??

[nicholas]

1 hour ago, atlrvr said:

Not a lawyer, so trying to decipher the above.  Basically, police can question you and even tell you to stop taking photos, but they can't actually arrest you for it??

That's how I read it.