Fifteenth and New York Branch in Washington, D.C. (2012), SunTrust Tower, located on Laura Street in Jacksonville, Florida, SunTrust branch in Durham, North Carolina, SunTrust Bank in Hendersonville, Tennessee, Fifteenth and New York Branch in Washington, D.C. (2018), CS1 maint: multiple names: authors list (, Comprehensive Capital Analysis and Review (CCAR), Learn how and when to remove this template message, "FDIC Institution Directory: SunTrust Bank", "SunTrust to Pay $1.5B to Settle Mortgage Claims", "U.S. Add alert CUSIP Number: 867914103; Tip: Access positions for across all investors. [36], In 2015 and 2016, two corporate treasurers have gone on to become CFOs at large regional banks, including Kevin Blair at Zions Bancorporation and Paul Burdiss at Synovus,[37][38] and a unit strategy head, Inder M. Singh, became CFO at IT firm Unisys.[39]. When it comes to investing, going with the crowd will rarely -- if ever -- make you rich. [10][29][30] It was subsequently announced that Atlanta will be Truist's headquarters for wholesale banking, while Winston-Salem will be the headquarters for community banking. [12] In 1973, the bank merged with other Orlando banks to become SunBanks. PHEAA later transferred its rights to Educational Credit Management Corporation (ECMC). Montgomery. ORDER ON MOTIONS TO DISMISS {1} THIS MATTER is before the Court on … He held increasingly senior positions in corporate and commercial banking, corporate finance, retail banking, private wealth management and mortgage, prior to being named president in 2008 and chief operating officer in 2010. Third National Corporation, the second largest bank holding company in Tennessee, was acquired on December 29, 1986. https://www.bloomberg.com/.../bb-t-and-suntrust-banks-agree-to-combine Background. SunTrust (now Truist) is a bank with a … [31] SunTrust had been the last major bank headquartered in Atlanta, which had been the South's financial capital for much of the 20th century. Under AmEx, the firm operated as part of Shearson Lehman Brothers Inc.[26] In 1993, deal maker Sandy Weill orchestrated a deal for Shearson's retail division, and Robinson-Humphrey was included in the sale, using the Smith Barney unit of Primerica Corp.[26]. First-Citizens Bank & Trust Company, Raleigh, NC acquired all deposit accounts. (They later settled for a cool $968 million.) SunTrust Securities also became operational during the year. This is the foundation of contrarian investing. However, it continued to use the Third National name in Tennessee. Who bought or sold Suntrust Banks this quarter? This acquisition allowed SunTrust to enter Alabama, the Carolinas, and West Virginia for the first time, and substantially increased its footprint in the other states. [44], SunTrust started to divest Coke shares in May 2007, when it sold 4.5 million, or 9% of its position. Reaches $968 Million Mortgage Settlement With SunTrust", "BB&T and Suntrust to combine in an all-stock merger of $66 billion", "BB&T-SunTrust merger creating Truist Financial set to close at midnight", "Institution History for TENTH & MAIN BRANCH (47920)", Federal Financial Institutions Examination Council, "SunTrust to buy National Commerce Financial", "Comvest Invests in BEL USA, Adds On Branders.com", "The Morning Leverage: What's Waiting in Private Equity's Stocking? In addition, SunTrust was required to adhere to significant new homeowner protections. SunTrust continued to grow. [14] As of December 31, 1973, it had three bank-related subsidiaries and total assets of $1.713 billion. Top investors of Suntrust Banks Inc $1.00 Par Cmn stock. Formerly SunTrust's COO, Rogers assumed the title of CEO on June 1, 2011. 4.9/5 (21 Views . Rogers began his career in 1980, joining the commercial banking division of Truist predecessor SunTrust Bank. Every floor is designed to provide 36 corner offices, making it an ideal headquarters for SunTrust Bank, as well as several large corporate law firms and professional services firms. [35] At that time, the current Chief Financial Officer (CFO) is Aleem Gillani was named in April 2011. Every floor is designed to provide 36 corner offices, making it an ideal headquarters for SunTrust Bank, as well as several large corporate law firms and professional services firms. BB&T Corp will buy SunTrust Banks for about $28 billion, creating the sixth largest U.S. lender, in the biggest bank deal since the financial crisis. A home equity loan is available to anyone who owns property. Customers of either company will be able to use the other's ATMs without charge during the process. Merging in 1985 with SunBanks of Florida, the new entity acquired the Third National Corporation, then the second-largest bank-holding company in Tennessee. The Legal Entity Identifier code of SunTrust Bank is IYDOJBGJWY9T8XKCSX06.The legal form of this company is 9999 and is subject to the jurisdiction of US-GA law. [10] On December 6, 2019, the merger between BB&T and SunTrust closed, forming Truist Financial Corporation. Thomas Alfes did just that when he sued both SunTrust Bank and the Pennsylvania Higher Education Assistance Agency (PHEAA) in his bankruptcy. BB&T will be the nominal survivor, but the merged bank will be headquartered in Charlotte under a new name, Truist Financial Corporation. SUNTRUST BANK's bank owned homes total $49.82 M 0% from the previous quarter. However, SunTrust had long coveted Robinson-Humphrey, reportedly having pursued it for more than 80 years. Crestar was founded in 1865 as State Planters Bank of Commerce and Trusts in 1865, becoming United Virginia Bank in 1969 and Crestar in 1987. Suntrust Mortgage Now Suntrust Bank It is recommended for financing major one-off expenses, including home renovations or repairs, medical bills, repayment of credit card debt, or funding college tuition. Owned by Truist Bank, SunTrust Bank offers a variety of services to customers, including banking, credit cards, home mortgages, and personal loans. Together, both SunTrust and BB&T will soon operate under the name Truist. He was appointed president and CEO in June 2011 and became … With 275 years of combined history serving clients and communities in high-growth markets, our new company will deliver the best of … It also bought Florida State Bank of Tallahassee, with which it had tried to merge with in 1973, when the economy soured. [45] In 2008, the bank sold another 10 million shares, donated 3.6 million to SunTrust's charitable foundation, and crafted a plan to sell more shares in 2014 and 2015. On Thursday morning, BB&T (ticker: BBT) and SunTrust Banks (STI) said that they were merging. 52 users have flagged SunTrust Banks as a potential scam with an aggregate rating of 1.44. Analyze quarterly positions in Suntrust Banks Inc $1.00 Par Cmn with up to 7 years of data, all consolidated into one spreadsheet . As of September 2016, SunTrust Bank operated 1,400 bank branches and 2,160 ATMs across 11 southeastern states and Washington, D.C..[7] The bank's primary businesses included deposits, lending, credit cards, and trust and investment services. [24] SunTrust Park, which is expected to be unveiled in time for the first pitch of the 2017 season, will serve as the new home of the Atlanta Braves. Choose a platform. (Contributed photo by Pouya Dianat/Atlanta Braves/Getty Images) [23], On September 16, 2014, the Atlanta Braves announced the name of their new Cobb County stadium: SunTrust Park. And the public at large owns the remaining 16%. It had US$199 billion in assets as of March 31, 2018. We’re motley! Who Owns SunTrust Mortgage? SunTrust Banks (STI) Q3 2019 Earnings Call Transcript STI earnings call for the period ending September 30, 2019. Top investors of Suntrust Banks stock. Analyze quarterly positions in Suntrust Banks with up to 7 years of data, all consolidated into one spreadsheet . As you can see in the following chart, the majority of SunTrust's 532 million shares are held by institutional investors. SunTrust Banks: Truist Financial: $66 billion Truist Financial: Mergers chart. Portman Holdings developed this award winning office tower in partnership with SunTrust Bank. According to the 2020 Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fourth top brand in Asean and ranked 72nd in the world’s most valuable bank brands. PEAK Coastal Ventures, L.L.C. He then joined Union Planters (Regions) Business Banking and was named Senior Vice President for West TN, North MS and Eastern AR, directing 21 lenders and a $250 million portfolio. However, Truist will retain significant operations in Atlanta. On February 7, 2019, BB&T reported that it would acquire SunTrust to create the sixth-largest US bank, with assets of $442 billion and market capitalization around $66 billion. On July 1, SunTrust Banks, Inc. became operational with assets of $16.3 billion. SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018. A home equity loan is available to anyone who owns property. The largest subsidiary is SunTrust Bank. [16], In May 1983, Sun announced a deal for Miami-based Flagship Bank Inc., with $3.3 billion in assets, that positioned Sun to be one of the Florida's largest bank holding companies. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Company insiders, including board members and corporate executives, own a further 0.35% of the outstanding common stock. Here's what's next", "SunTrust Banks to close five remaining WV branches", "Synovus taps SunTrust executive for chief financial officer", "Zions Taps SunTrust Treasurer to Replace Retiring Chief Financial Officer", "Chief Financial Officer (CFO) Janet Haugen to Retire from Unisys; Company Names Inder M. Singh to Succeed Haugen as CFO", "Coca-Cola Moves Its Secret Formula to The World of Coca-Cola", "Coke hides its secret formula in plain sight in World of Coca-Cola move", "DESPERATE BANKS SELLING OFF HARD ASSETS", "SunTrust Profit Soars on Coke Stock Sale", "SunTrust Sells Coke Shares and Bad Loans", "In turnabout, SunTrust removes contentious severance clause", Stuart A. In 2019, BB&T Bank acquired SunTrust for $28 million in stock. Prior to being a small business owner, Mr. Heiser was in corporate banking from 1995 to 2005 with SunTrust Bank and Wachovia Bank. In February 2019, SunTrust Banks announced its pending purchase by BB&T for $28 billion in an all-stock deal, creating the sixth largest U.S. lender, being the biggest bank deal since the 2007-2008 financial crisis. This was then the largest merger in Southeastern banking history and the first under the new interstate laws. The FDIC as Receiver for Capitol City Bank & Trust Company, Atlanta, GA has taken all actions necessary to terminate the Receivership Estate. Suntrust Mortgage Inc is a division of SunTrust Bank. In 2019, BB&T Bank acquired SunTrust for $28 million in stock. The merged bank will continue to operate under the BB&T and SunTrust names until the two banks' systems are combined, a process that could take up to two years. And BlackRock has been busily buying the homes left vacant by faulty SunTrust mortgage loans. The Commonwealth Bank is Australia’s leading provider of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and share broking products and services. The bank isn’t known for stellar customer service, with page after page of complaints on Consumer Affairs. That was the first thought I had when reading that SunTrust Banks is selling a stake in the beverage maker for nearly $2 billion, a stake that has risen in value from $100,000 over the last 93 years. [32], The company operated three primary business units: Consumer Banking & Private Wealth Management, Wholesale Banking, and Mortgage. While insider and institutional ownership together represent only one metric, it's nevertheless an important one. In 2014, the Federal government together with state attorneys general in 49 states and the District of Columbia reached a settlement requiring SunTrust Mortgage, Inc., to provide $500 million in various forms of relief to mortgage borrowers. PHEAA later transferred its rights to Educational Credit Management Corporation (ECMC). Share your experience with SunTrust Banks to help others make better choices Top investors of Suntrust Banks Inc $1.00 Par Cmn stock . Analyze quarterly positions in Suntrust Banks Inc $1.00 Par Cmn with up to 7 years of data, all consolidated into one spreadsheet . The United States District Court for the District of Columbia entered the Consent Order on September 30, 2014. Prior to Congressional Bank, Patience was Senior Vice President, Retail Administration for Suntrust Bank where she managed sales and operations for 14 branches in Washington, DC. BB&T merged with SunTrust in 2019 to form Truist Financial Services. Every quarter, companies and large institutional investors are required to disclose their equity holdings. @themotleyfool #stocks $STI $GS, SunTrust Banks (STI) Q3 2019 Earnings Call Transcript, Why Shares of BB&T and SunTrust Traded Up in September, SunTrust Banks (STI) Q2 2019 Earnings Call Transcript, Why SunTrust Banks Climbed 10.5% in April, SunTrust Banks (STI) Q1 2019 Earnings Call Transcript, Copyright, Trademark and Patent Information. Who Owns SunTrust Banks? 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