Truist touts $10 million in charitable Atlanta investments

Truist was created a year ago in the merger of BB&T and Atlanta-based SunTrust.
Truist was created a year ago in the merger of BB&T and Atlanta-based SunTrust.

Truist bank said Monday it has invested $10 million in metro Atlanta in the past year, proof that it has not retreated from its commitment to the area.

Atlanta lost its last major bank headquarters a year ago when BB&T, based in Winston-Salem, North Carolina, and Atlanta-based SunTrust merged as Truist and located in Charlotte as the nation’s sixth largest bank.

Monday’s report showed Truist has provided $6 million in pandemic relief aid to Atlanta-area nonprofits, while also serving as a conduit for $1.36 billion in Paycheck Protection Program loans to small businesses.

Among the bank’s donations in Georgia are $1 million each to the CDC Foundation, United Way of Greater Atlanta and Access to Capital for Entrepreneurs. The bank also donated $2 million to Boys & Girls Clubs.

Paycheck protection loans, funded by the federal CARES Act earlier this year, helped save an estimated 678,000 jobs, according to Truist.

“We’re deeply committed to the Atlanta market and its diverse communities,” said Jenna Kelly, the bank’s regional president for Northern Georgia, in a statement.

The bank, which has about 7,400 employees in metro Atlanta, recently reported revenue of $5.6 billion during its third fiscal quarter. Truist will report financial results of the current quarter on Jan 21.

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