Summary
This 8-K filing by Truist Financial Corporation (TFC), filed on December 23, 2019, announces significant changes to its financial reporting. Effective December 31, 2019, Truist will implement new financial reporting and reclassification changes. These changes are a direct result of the completed merger between BB&T Corporation and SunTrust Banks, Inc. The company is providing supplemental historical financial information to align the past presentations of both BB&T and SunTrust with the new reporting structure that will be effective from the end of 2019.
Key Highlights
- 1Truist Financial Corporation is implementing new financial reporting and reclassification changes effective December 31, 2019.
- 2These changes are a consequence of the merger between BB&T Corporation and SunTrust Banks, Inc.
- 3Supplemental historical financial information is being provided to conform past presentations of BB&T and SunTrust to the new format.
- 4The supplemental information is furnished as Exhibit 99.1 and incorporated by reference.
- 5This information is intended to provide a consistent view of historical performance under the new reporting structure.
- 6The supplemental historical financial information does not revise or restate previously issued financial statements for BB&T or SunTrust.
- 7Information furnished under Item 7.01 is not considered 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.