SunTrust Banks Inc
Stock Symbol: STI
303 Peachtree Street NE
SunTrust Banks Inc Industry:
SunTrust Banks Inc Description:
SunTrust Banks, Inc.,is one of the nation's largest commercial banking organizations.As of March 31, 2002, SunTrust had total assets of $106.2 billion and total deposits of $69.5 billion. The company operates through an extensive distribution network in Alabama,Florida, Georgia, Maryland, Tennessee, Virginia and the District of Columbia and also serves customers in selected markets nationally.Its primary businesses include deposit, credit, trust and investment services.Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services.
SunTrust Banks Inc Financial Summary:
For the nine months ended 30 September 2005, SunTrust Banks, Inc.'s interest income increased 54% to $5.56B. Net interest income after LLP increased 30% to $3.26B. Net income increased 31% to $1.47B. Net interest income reflects robust loan growth and the acquisition of National Commerce Financial Corporation, partially offset by lower net interest rate spreads. Net income also reflects a sharp increase in non-interest income.
SunTrust Banks Inc Business Summary:
SunTrust Banks, Inc. (SunTrust) is a financial holding company that, through its banking subsidiaries, provides deposit, credit, trust and investment services. Additional subsidiaries provide mortgage banking, insurance, asset management, brokerage and capital markets services. Effective October 1, 2004, National Commerce Financial Corporation (NCF) merged with SunTrust. SunTrust operates under six business segments: Retail, Commercial, Corporate and Investment Banking, Wealth and Investment Management (formerly known as Private Client Services), Mortgage and NCF. The Company's 1,710 retail and specialized service branches and 2,804 automated teller machines are located primarily in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia. In addition, SunTrust provides customers with a selection of technology-based banking channels, including Internet, personal computer and telephone banking.