Company Overview Visit suntrust.com website

SunTrust Banks, Incorporated is one of the largest retail bank holding companies in the country. Suntrust has always been one of the most successful banks in the south east United States and has spread its operations to many different states throughout America. Only two years after its first acquisition, SunTrust’s sales were topping $200 million dollars per year. Today, they are a part of an organization with around 1,400 locations which includes over full-service branch banking offices across 11 states offering traditional banking services as well as trust, investment management and personalized credit services.

SunTrust had total assets worth $181 billion and total deposits worth $102 billion. Loans and leases accounted for 64% of the assets with $91 billion worth. Securities and investment account for 31% of the assets with $51 billion. SunTrust’s most commonly offered services are checking accounts, debit cards, personal savings/money market accounts, certificates of deposit (CDs), home equity lines of credit (HELOC), second mortgages and other installment loans.

The history of SunTrust dates back to 1811 when Henry Lawrence founded a private bank in Augusta Georgia called The Bank of Augusta. This is when the Banking system was forming, but it wasn’t until 1833 that America had its first commercial bank in Philadelphia called First National Bank which acquired many banks over time including The Bank of Augusta.

First National bank would eventually merge with Third National where it became known as the Third and First National Bank in 1963. Two years later, Sun Insurance (later SunTrust) acquired Third and First National bank making it a subsidiary of Sun insurance until 1990 when it operated under its own name after finally being merged into a holding company which is the current form of Suntrust Banks Incorporated.

SunTrust was then bought by a Memphis bank called National Commerce Financial Corporation for $2 billion dollars in 2000. After that, they bought back many of their original branches from large corporations such as Wachovia and HSBC because they wanted to focus on serving local communities instead of joining these other entities who had more money but less personal relations with clients.

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SunTrust Banks Logo Use Example

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SunTrust Banks Website Preview