SB

SUNTRUST BANKS INC

13F
SUNTRUST BANKS INC
Last update 2019-11-12 1275 Stocks (90 new)
Value $18.53 Bil Turnover 4 %
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SUNTRUST BANKS INC Profile

SunTrust Banks Inc. is the holding company for SunTrust Bank. The company can trace its history back to the Trust Company of Georgia, which was founded as the Commercial Travelers' Savings Bank in 1891 by John M. Green, Joel Hurt, H. L. Atwater, W. A. Hansell, T. J. Hightower, and others. Two years later, the company would be restructured as a trust company and rename itself the Trust Company of Georgia. Sun Banks Inc. can trace its history back to 1934 when it was established as the First National Bank of Orlando. Sun Banks Inc. would merge with the Trust Company of Georgia in 1985 and would operate as the Trust Company Bank in Georgia and Sun Bank in Florida until a decade later, when all of the operating banks took on the SunTrust name. The merged company would acquire the Third National Corporation of Nashville and Crestar Financial Corporation of Richmond, expanding its reach into Tennessee, Virginia, Maryland, and D.C. and pushing back the company’s history to 1811, when Crestar’s earliest predecessor company, the Farmers Bank of Alexandria, was established. SunTrust Banks Inc. would continue to acquire companies in the 2000s and into the 2010s to facilitate its growth, including the institutional businesses of the Robinson-Humphrey Company, National Commerce Financial Corporation, Fifth Third Bank, and BEL USA, expanding its reach to more locations. The company currently offers over 1,400 banking offices located mostly in the southern and eastern portions of the U.S. SunTrust Banks with over 2,200 ATMs, operating in three major segments: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. The company has over $175 billion in total assets under management, bringing in a net income of over $1.3 billion, and has over 25,000 employees. SunTrust Banks’s mutual funds include over 150 fund families with its STI Classic Funds being named the 3rd mutual fund family in the nation in 2002.
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