Suntrust Small Business Online Log In – As of March 31, 2018, SunTrust Bank is an American bank holding company with $199 billion in assets as its largest subsidiary.
As of September 2016, SunTrust Bank operated 1,400 bank branches and 2,160 ATMs in 11 southeastern states and Washington, DC.
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The bank’s core businesses included deposits, lending, credit cards, and trust and investment services. Through its various branches, the company provides corporate and investment banking services, capital markets services, mortgage banking services and wealth management with approximately 24,000 employees. In 2013, he was ordered to pay $1.5 billion to settle allegations related to bad mortgage, foreclosure and foreclosure practices.
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In February 2019, SunTrust Banks announced a $28 billion purchase of BB&T in a stock deal, creating the sixth-largest US lender and the largest banking deal since the 2007 financial crisis. -2008
On September 21, 1891, SunTrust’s most direct corporate ancestor, the Trust Company of Georgia, obtained a charter from the Georgia General Assembly as the Atlanta Commercial Traveling Savings Bank.
The founders were John M. Gray, Joel Hurt, HL Atwater, W.A. Hansel, T. , W. W. Draper, AC Hook, WT Ashford, George W. Brooke, CI Brannan and CD Montgomery
Sun Bank’s first predecessor was founded in 1911 as the People’s National Bank in Orlando, Florida. It became First National Bank in 1920. In the early 1930s, during the Great Depression, First National Bank and Trust Company went bankrupt. It was reorganized as the First National Bank of Orlando on Valentine’s Day, 1934.
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In the early 1970s, the bank made further consolidations, allowing interstate banking for the state of Florida. It included Hillsboro Bank in Plant City, an institution with $81,150 million in assets and the third-oldest state bank. It also bought Florida State Bank of Tallahassee, which it tried to consolidate in 1973 when the economy took a turn for the worse.
In May 1983, Sun acquired Miami-based Flagship Bank Inc. The deal was announced with $3.3 billion in assets, making Sun the largest bank holding company in Florida. The flagship deal is Sun’s seventh in less than a year
In 1985, The Trust Company of Georgia and SunBank merged to form SunTrust Bank, Inc.
The newly merged company got its first big deal a year later when it bought Nashville’s Third National Corporation. However, he continued to use the Third National name in Tennessee.In 1995, SunTrust dropped the Trust Company Bank, Sun Bank, and Third National names and renamed all of its bank branches SunTrust.
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In 1998, Crestar Financial Corporation of Richmond, Virginia expanded SunTrust Company’s footprint in Virginia, Maryland and the District of Columbia. Crestor was founded in 1865 as State Planters Bank of Commerce & Trust, became United Virginia Bank in 1969, and Crestor in 1987.
In 2004, the company bought Memphis-based National Commercial Finance Corporation (NCF) for $7 billion. And as Central Carolina Bank and North Carolina Trust, the acquisition will enable SunTrust to reach Alabama, the Carolinas and West Virginia for the first time, and significantly expand its presence in other states.
In 2013, the bank led a banking group that included Fifth Third Bank and Florida Community Bank that financed the acquisition of DiscountMugs shareholder Bella America by private equity firm Compest Partners.
On September 16, 2014, the Atlanta Braves announced the name of their new Cobb State Stadium: SunTrust Park.
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SunTrust Park, which opened the 2017 season as the new home of Cobb County’s $1.1 billion construction project, includes Battery Atlanta, restaurants, shops, offices, a hotel and residential space directly connected to the park, all built during stadium construction.
Acquired by SunTrust in 2001.
In 1917, SunTrust’s oldest developer, the Trust Company of Georgia, was rejected by Robinson-Humphrey.
The company was founded in 1894 by Rob Robinson as a municipal bond warehouse. At right, President Justice Martin Jr.
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In the early 1970s, Robinson-Humphrey Boldt was responsible for building the Atlanta Financial Center in the city’s tony Buckhead business district. gave
In 1982, Martin sold American Express to Robinson-Humphrey, which was run by another Atlanta businessman and Georgia Tech graduate, James Robinson (no relation to Robbie Robinson). Under AmEx, the company operated as part of Shearson Lehman Brothers Inc
In 1993, Sandy contracted Will Shearson’s retail division and joined the sale of Robinson-Humphrey using the Smith Barney unit of Premica Corporation.
On February 7, 2019, BB&T Corporation reported that it would acquire SunTrust to create the sixth largest bank in the United States with assets of $442 billion and a market capitalization of approximately $66 billion. The BB&T name will survive, but the merged bank will be headquartered in Charlotte under the new name Truest Financial Corporation. However, the trust will continue to have significant operations in Atlanta
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It was later announced that Atlanta would be the trust’s headquarters for wholesale banking and Winston-Salem would be the headquarters for Community Bank. This means more jobs in both cities
Sunthrust, the financial capital of the South for most of the 20th century, was the last bank based in Atlanta.
The merger was completed on December 6, 2019. On the same day, SunTrust Bank merged the banking units of BB&T, Branch Banking and Trust Company to form Truist Bank as the legal banking entity of the combined company. However, the combined bank will continue to operate under the BB&T and SunTrust names until the two banks’ systems are integrated, a process that could take up to two years. In this process customers of both the companies will be able to use the other company’s ATMs for free.
As of September 2016, SunTrust Bank operates 1,400 bank branches and 2,160 ATMs in Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and Washington DC.
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The bank announced in 2018 that it would close its last five West Virginia branches, all at Kroger stores.
On April 21, 2011, William H. Rogers Jr. began transitioning into the CEO role previously held by Jim Wells, who retired on December 31, 2011. Rogers, the former COO of SunTrust, took over as CEO on December 1, 2011. June 2011. Rogers was appointed president in 2008.
In 2015 and 2016, two corporate treasurers became CFOs of large regional banks, including Kevin Blair of Zeons Bancorporation and Paul Burdis of Synovs.
SunTrust has had a long relationship with the Coca-Cola Company since 1919 and from 1904 to 1922 Trust Company Chairman Ernest Cudruff and WC Bradley bought the Coca-Cola Company for $25 million and rebuilt it. The Georgia holding company helped fuel the initial public offering by acquiring shares in Coca-Cola in exchange for its services.
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Four years later, his son Robert W. Woodruff was elected president of Coca-Cola, a position he held until 1954 and a board member until 1984.
As a result, Coca-Cola had 48.3 million shares (3.58%) in 2006, with a GAAP value of $110,000. Additionally, the original formula for Coca-Cola was kept in a safe deposit box at a possible SunTrust office (originally a trust company bank office) in Atlanta from 1925 to 2011.
SunTrust sold 4.5 million or 9% of Coca-Cola shares in May 2007.
In 2008, the bank sold another 10 million shares and donated $3.6 million to the SunTrust Charitable Foundation, and plans to sell more shares in 2014 and 2015.
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However, in September 2012, SunTrust sold all its shares to Coca-Cola at the behest of its main regulator, the Federal Reserve.
SunTrust was forced to redo its capital plan in March 2012 after the stock failed parts of a stress test known as the Comprehensive Capital Analysis and Review (CCAR). Bank’s capital ratio as per new capital rules under Basel III Therefore, SunTrust decided to accelerate its plan and sell the Coca-Cola stake ahead of schedule.
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