Truist reported higher profit after reducing its loan-loss provision and benefiting from higher loan and fee revenue from the combined BB&T and SunTrust. The Charlotte-based bank said net income rose 75% to $1.23 billion, while adjusted net income was $1.6 billion. The sixth-largest U.S. bank said it has cut more than 3,600 jobs since combining the two banks. It now employs abou5 53,700 and operates in 17 states.
On Thursday, the state attorney general cleared the sale of New Hanover Regional Medical Center to Novant Health. The $1.5 billion. sale will close on Feb. 1. As a part of the deal, Novant Health agreed to increase transparency and accountability of the new endowment.