SunTrust Banks Inc Atlanta GA Company Overview and Perspectives

SunTrust Banks Inc, based in Atlanta, GA, has a long history dating back to 1891.

The company began as the Commercial Travelers' Savings Bank and Trust Company, founded by a group of businessmen.

SunTrust Banks Inc is a leading financial institution with a strong presence in the Southeast region of the United States.

It operates over 1,200 banking offices and more than 2,500 ATMs across nine states, including Georgia, Alabama, Arkansas, Florida, Mississippi, Louisiana, South Carolina, Tennessee, and North Carolina.

For more insights, see: What Company Is Ubs

SunTrust Banks, Inc. has a rich history that spans over two centuries. Founded in 1985 through the merger of Trust Company of Georgia and SunBanks, the company was headquartered in Atlanta.

The merged company made its first major deal in 1986, purchasing Third National Corporation of Nashville. SunTrust continued to operate under the Third National name in Tennessee.

SunTrust has undergone several significant acquisitions, expanding its footprint across the country. In 1998, the company purchased Crestar Financial Corporation of Richmond, Virginia, entering the Virginia, Maryland, and District of Columbia markets.

You might like: Goldman Sachs Company Culture

Trust Company was founded in Atlanta in 1891, making it a major institution in the city for over a century.

Atlanta was already a leading commercial center by the 1990s, but it had a long way to go after the devastation of the Civil War and Sherman's burning of the city.

The city emerged from the ashes, earning the nickname "The Gate City" and becoming a hub for commerce and innovation.

A druggist named Asa Candler developed Coca-Cola in the 1890s, a sweet brown carbonated drink that would put Atlanta on the commercial map.

In 1919, the Woodruff family purchased the Candlers' interest in Coca-Cola and took the company public, using Trust Company as the underwriter.

Trust Company received $110,000 worth of Coca-Cola stock in 1919, which would become the heart of the company's fortunes over the next century.

Ernest Woodruff, the patriarch of the clan, served as president of Trust Company from 1904 to 1922 and played a significant role in the company's history.

Here's an interesting read: Digital Wallet App Development Company

The Woodruff family's acquisition of Coca-Cola and their investment in Trust Company formed a lasting link between the two companies.

The family's philosophy, which emphasized stability and trust, guided Trust Company's growth and development over the years.

By the 1970s, Trust Company had adopted a distinctive logo, a "big blue T", and an advertising campaign that centered around the nickname "Trust."

Related reading: Guaranty Trust Bank Plc Swift Code

The 1980s were a pivotal time for SunTrust, and it's worth taking a closer look at what happened during this decade.

SunTrust began to take shape in 1985 with the merger of Trust Company of Georgia and SunBanks.

This merger formed SunTrust Banks, Inc. and established the company's headquarters in Atlanta.

The newly formed company continued to operate under different names in Georgia and Florida, but this would soon change.

SunTrust made its first major deal just a year after the merger, purchasing Third National Corporation of Nashville in 1986.

A fresh viewpoint: Is Suntrust and Truist the Same Bank

However, the company continued to use the Third National name in Tennessee, which would eventually be phased out.

The Trust Company Bank, Sun Bank, and Third National names were all retired in 1995, and SunTrust rebranded its banking subsidiaries under one unified name.

This marked a significant turning point for the company, as it began to establish a more cohesive brand identity.

Worth a look: Basel Iii Accord

SunTrust Banks, Inc. has a rich history that spans over a century. The company was formed in 1985 through the merger of Trust Company of Georgia and SunBanks.

The merged company was headquartered in Atlanta and continued to operate under different names in different states. It wasn't until 1995 that SunTrust retired all of its subsidiary names and rebranded as SunTrust across the board.

SunTrust has made several significant acquisitions over the years, including the purchase of Crestar Financial Corporation in 1998, which expanded its footprint into Virginia, Maryland, and the District of Columbia.

SunTrust Bank operated three primary business units before the merger: Consumer Banking & Private Wealth Management, Wholesale Banking, and Mortgage. Each of these units contributed significantly to the bank's overall revenue.

Consumer Banking accounted for 32% of the revenue, making it the largest contributor. Corporate & Investment Banking and Commercial & Business Banking also played important roles, generating 20% and 14% of the revenue, respectively.

Here's a breakdown of the business mix as of June 30, 2016:

SunTrust Bank had a significant presence across the southeastern United States, operating 1,400 bank branches and 2,160 ATMs in 13 states and Washington, D.C.

In 1985, Trust Company of Georgia merged with SunBanks to form SunTrust Banks, Inc. This merger marked the beginning of a new era for the company.

The merged company was headquartered in Atlanta and initially continued to operate as Trust Company Bank in Georgia and Sun Bank in Florida. SunTrust's first major deal after the merger was the purchase of Third National Corporation of Nashville, which it completed a year later.

You might enjoy: Merrill Lynch Bofa Merger

Trust Company Bank, Sun Bank, and Third National names were eventually phased out in 1995, with all subsidiaries rebranded as SunTrust. This rebranding effort aimed to create a unified identity for the company.

SunTrust's expansion into Virginia, Maryland, and the District of Columbia began in 1998 with the acquisition of Crestar Financial Corporation of Richmond, Virginia. Crestar was founded in 1865 as State Planters Bank of Commerce, making it one of the oldest banks in the country.

SunTrust Banks Inc, Atlanta GA has had a steady line of CEOs guiding the company since its inception. William H. Rogers Jr. took over as CEO in 2011.

Rogers' transition into the CEO role was a smooth one, having been named President in 2008 and assuming the title of CEO on June 1, 2011. This indicates a clear path for succession within the company.

The company has had a few notable CFOs in recent years, including Aleem Gillani, who was named CFO in April 2011, and Inder M. Singh, who became CFO at IT firm Unisys after serving as a unit strategy head at SunTrust.

If you're trying to find your bank's routing number, you can do so by visiting a website that lists routing numbers for major US banks. You can also check your bank's online banking platform for your routing number.

To access your routing number through online banking, simply log in to your account and navigate to the relevant section. Some banks may have a specific tab or menu option for account information or account settings.

You can also find your routing number on a bank-issued check or bank statement. This is a common place to look for this information, and it's often located at the bottom of the check or statement.

If you're unable to find your routing number through these methods, you can try looking it up on the official website of the Federal Reserve, known as Fedwire. This is a reliable source for finding routing numbers for banks across the US.

Intriguing read: Us Comptroller of the Currency

Over the years, SunTrust has had a few key leaders at the helm. William H. Rogers Jr. took over as CEO in 2011, after a transition period that began in April of that year. He had previously held the title of President since 2008.

Let's take a look at the CEOs who came before him. James M. Wells III was the CEO from 2007 to 2011, while L. Phillip Humann held the position from 1998 to 2007.

Here's a brief rundown of the CEOs who led SunTrust from 1990 to 2011:

It's worth noting that Rogers took over as CEO in June 2011, after Jim Wells retired at the end of 2011.

SunTrust Banks Inc. has faced its fair share of controversies over the years.

One notable controversy occurred in 2015 when the bank laid off 100 IT professionals with a severance agreement clause that required them to work without pay for two years. However, the bank later reversed this decision.

The severance agreement clause was particularly contentious because it required employees to be available to help SunTrust without compensation. This sparked a lot of criticism and public outcry.

SunTrust has also been associated with a tragic event: the 2019 SunTrust Bank shooting.

Additional reading: How to Earn Money Online without Investment in Mobile

SunTrust Banks Inc. has a long history of community involvement and philanthropy. The company has a strong commitment to giving back to the communities it serves.

SunTrust's headquarters is located in Atlanta, Georgia, where the company was founded in 1891. It has since grown to become one of the largest banks in the United States.

SunTrust has been recognized for its innovative approach to banking, including its use of digital technology to enhance customer experience. This focus on innovation has helped the company stay ahead of the curve in a rapidly changing industry.

SunTrust's commitment to customer service is evident in its numerous awards and recognitions, including being named one of the "Best Banks in America" by Forbes.

A different take: Digital Customer Onboarding Banking