By MICAH HENRY
At high noon on Tuesday, March 29, the Taylorsville branch of Truist (formerly BB&T Bank) at 21 Main Avenue Drive will close and be consolidated into a Catawba County branch.
A sign on the door of the Taylorsville branch announces the closure date and time and refers clients to visit the Conover branch at 202 1st Ave. South, Conover, NC 28613.
“It’s important to note there are no job losses associated with this consolidation; all teammates from the Taylorsville branch are being offered other roles in nearby branches,” said Shelley Miller, who works in Corporate Communications for Truist. “Our client relationships will be automatically transferred to the receiving branch where they’ll receive the same attention and client service they’re accustomed to.”
“When it comes to consolidating branches, we’re very thoughtful about these decisions and consider a number of factors, primarily our clients’ preferences and patterns. Our branches will always be an important bridge for us to build relationships, meet our clients’ needs, and contribute to our communities. Like many industries, we’re seeing our client preferences and behaviors change as more and more clients choose to bank with us digitally. This trend has accelerated even more due to COVID-19. This has caused a gradual effect on client traffic patterns and branch usage,” Miller continued.
“As part of our merger, Truist has natural opportunities to reduce our overall number of branches, given the number of heritage BB&T and SunTrust branches in close proximity to one another, with very little impact to our clients. In many cases, there’s a branch available for clients just a few minutes away.
“Over time, we’ve also closely tracked past branch closings to see how this might affect our clients. To date, we’ve seen virtually no client attrition through this process. It’s also important to note that clients have access to their accounts through one of the strongest branch and ATM networks in our markets, telephone banking, and 24-hour delivery channels such as online and mobile banking, which allow them to bank anytime, anywhere,” Miller stated.
According to information from Truist, BB&T and SunTrust merged in December 2019. They introduced blended branches for clients the following summer. During the summer of 2021, Truist online banking and a mobile app began rollout to clients. Last October, BB&T clients saw their products transition to Truist.
Truist’s footprint covers 17 states and the District of Columbia. It is the seventh largest commercial bank in the U.S. Truist has total assets of $541 billion (as of December 31, 2021).
Last October, Charlotte Business Journal reported that Truist cited digital banking trends and overlapping branches as reasons for closure. “Pre-merger, Truist predecessors BB&T and SunTrust had well over 700 overlapping branches within a couple of miles of each other,” CBJ reported. In all, about 800 branches are being targeted for closure in the firm.
Truist joins Wells Fargo, CommunityOne, BB&T, and First Citizens on the list of banks which have closed a branch in Alexander County in recent years. However, banks remaining in Alexander are: Taylorsville Savings Bank (in Taylorsville, Hiddenite, and Bethlehem), First Community Bank (Taylorsville), Peoples Bank (Hiddenite), First Citizens (Taylorsville), and State Employees’ Credit Union (Taylorsville). Wells Fargo moved its ATM from its former bank location on Main Ave. to the Walmart shopping center.