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Quick Facts

Phone Number:
1-800.786.8787
Bank Website:
suntrust.com
Assets Managed:
$166.17 Billion
Headquarters:
Atlanta, GA
Date Established:
September 21st, 1891
Equal Housing Lender / Member FDIC
SunTrust Bank

Profile Information:

Bank Headquarters: Atlanta, Georgia, United States
Stock Symbol: STI
CEO: James Wells

Sun Trust Banks was incorporated in 1984 and is a financial company offering a diversified variety of financial services to both consumer based and corporate clients. Sun Trust Banks are located primarily in the Eastern states within the USA. The company was formed in 1811 in the earliest form of the company’s institution and since then has gone through many different phases of structure and ownership. As of 2008 SunTrust Banks was the eighth largest bank at the end of the financial year as an individual bank with over $189.3B in assets. The last revenue based report for the Sun Trust Bank was calculated as being at $1.92B with a total net income for the 2008 year being $ 746.9M.

SunTrust operates approximately 1,700 bank branches across Southern states and a total number of 6,695 retail branches and 5564 ATMs nationwide. The bank has had a very public history with various high visibility companies since the turn of the 20th century. One of the most interesting of these is the Sun Trust Bank’s relationship with the Coca Cola Company of Georgia in which the bank helped underwrite the first public offering of the Coca Cola company in 1919 onto the stock exchange. As a result of this the company retained a percentage of the shares in the Coca Cola Company which to this day number $48.3million. These shares alone are worth $2B and pay the company $59M in dividends.


The company has also been in the forefront of the news for some of its takeover acquisition tactics in the past such as the failed takeover attempt of Wachovia, which has since been acquired by the larger entity of Wells Fargo. Sun Trust Bank has a large portfolio of Wealth and Investment Management and provides a full array of wealth management products available to wealthy clients. These products tend to be aimed at the higher end of the business market rather than investing in micro based businesses. Sun Trust has also changed its major credit card manager recently. This change to the credit card market happened with an agreement that they signed in late 2006 with InfiCorp Holdings, also of Georgia, to manage the credit card portfolio of Sun Trust. This was due to a takeover of the previous credit card manager by Sun Trust’s major competitor and the nation’s largest bank, the Bank of America.

Sun Trust Bank has also been in the news for the rumours of a reported acquisition by a larger bank like HSBC, which has its headquarters in London, England.

In a much discussed banking crisis, the Sun Trust Bank share price crashed from a 52 week high of around $26USD to $6, however since then the company has managed to achieve back most of the value of the shares and the price as of February 2010 price for the share is hovering around $22. It is worth noting that the Sun Trust Bank was not a beneficiary of the Federal Governments bailout scheme and did not receive any money during the economic crisis.














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Recent Banking Questions

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