SunTrust Banks
 |
|
| Public | |
| Traded as | : STI S&P 500 Component |
| Industry | Banking |
| Founded | 1985 |
| Headquarters |
SunTrust Plaza Atlanta, Georgia, U.S. |
|
Number of locations
|
1,400 branches 2,160 ATMs |
|
Area served
|
Southeastern United States |
|
Key people
|
William H. Rogers, Jr. Chairman and CEO |
| Products | Financial Services |
| Revenue |
 US$8.2 billion (FY 2013)
|
|
US$1.34 billion (FY 2013)
|
|
| Total assets |
US$204.875 billion (2016)
|
| Total equity |
US$21.4 billion (FY 2013)
|
|
Number of employees
|
24,000 (09/01/2016) |
| Website | SunTrust.com |
SunTrust Banks, Inc., is an American bank holding company. The largest subsidiary is SunTrust Bank. It had US$175 billion in assets as of December 31, 2013. SunTrust Bank's most direct corporate parent was established in 1891 in Atlanta, where its headquarters remain.
As of September 2016, SunTrust Bank operates 1,400 bank branches and 2,160 ATMs across 11 southeastern states and Washington, D.C.. The bank's primary businesses include deposits, lending, credit cards, as well as trust and investment services. Through its various subsidiaries, the company provides corporate and investment banking, capital market services, mortgage banking, and wealth management. It has nearly 24,000 employees.
On 21 September 1891, SunTrust's most direct corporate ancestor, the Trust Company of Georgia, was granted a charter by the Georgia General Assembly as the Commercial Travelers' Savings Bank. The founders were John M. Green, Joel Hurt, H. L. Atwater, W. A. Hansell, T. J. Hightower, J. G. Oglesby, J. D. Turner, John B. Daniel, Joseph Hirsch, Leon Lieberman, Louis Wellhouse, A. J. McBride, D. O. Dougherty, W. A. Gregg, W. W. Draper, A. C. Hook, W. T. Ashford, George W. Brooke, C. I. Branan and C. D. Montgomery.
In November 1893, it restructured as a trust company and renamed itself Trust Company of Georgia.
The earliest predecessor of Sun Bank was founded in 1911 as The People's National Bank. In 1920, it became the First National Bank. During the Great Depression, the First National Bank and Trust Company failed in the early 1930s. It was reorganized on Valentine’s Day 1934 as the First National Bank at Orlando. In 1973, the bank merged with other Orlando banks to become Sun Banks. It had three bank-related subsidiaries and total assets of $1.713 billion as of December 31, 1973.
In the early 1980s, Sun went on a buying spree that raised at least some eyebrows, as it positioned the bank for the state of Florida to eventually allow interstate banking. It rolled up 81-year-old Hillsboro Bank, based in Plant City, an institution with $150 million in assets and then the third-oldest state-chartered bank. It also bought Florida State Bank of Tallahassee, which had tried to merge with Sun in 1973, but the deal fell apart when the economy soured.
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