TKGI FINANCE

America's Top 20 Bank Holding Companies

SunTrust Banks, Inc.



SunTrust Banks, Inc. is one of the largest financial services holding companies in the U.S. It is ranked sixteenth by the FFIEC, Federal Financial Institutions Examination Council and has over $178 billion in assets, as of 2012. SunTrust Banks, Inc. operates out of Atlanta, Georgia where its corporate offices are located.

Services of SunTrust Banks, Inc.

SunTrust Banks, Inc. offers a full line of financial services, including deposit, credit, trust and investment services. They also offer services to retail businesses and institutional clients. Many of this financial company's subsidiaries offer additional services including insurance and equipment leasing and financing options. SunTrust Banks, Inc. offers online banking services to its customers and mobile applications.

History

The Trust Company of Georgia is the earliest direct corporate ancestor of SunTrust Banks, Inc. This company was founded in 1891 and was called the Commercial Travelers' Savings Bank, but two years later changed its name to the Trust Company of Georgia. In 1934, another bank was formed which was called the First National Bank of Orlando. In 1985, these two banks merged, but kept their own names. The banks did not change their names until 1995, when both banks became SunTrust Banks.

Mergers

After the merger of these two banks occurred in 1985, several purchases took place by SunTrust Banks. These purchases included Third National Corporation of Nashville, Crestar Financial Corporation of Richmond and Huntington Bancshares of Florida. These mergers and others helped SunTrust gain presence in more states, including North Carolina and West Virginia.

Coca-Cola Company

In 1919, the Trust Company of Georgia helped the Coca-Cola Company by underwriting its initial public offering. In exchange, the bank received some of the stock of this company. They owned 48.3 million shares, which amounted to approximately 3.5% of the Coca-Cola Company, now called Coke. One unique aspect about this deal is that the original formula used to create Coca-Cola still resides in a safe deposit box with this bank. This unique relationship between Coke and SunTrust Banks has helped this bank over the years; however, SunTrust finally sold the shares to raise capital. This occurred through two different sales; one was in 2007 and one in 2008. Today, they do not own any shares in Coke.

Current Status of SunTrust Banks, Inc.

SunTrust Banks, Inc. still currently operates out of Atlanta, Georgia. They have almost 1,700 branches and over 2,800 ATMS. The branches and ATMS are primarily in southern states, including Georgia, Florida and South Carolina; however, they also have branches in Maryland and the District of Columbia. They also own and operate the SunTrust Center in Orlando, Florida which is the tallest building in this city. It has 35 stories, 17 elevators and is finished in marble and granite.