ATLANTA, Sept. 19, 2016 /PRNewswire/ -- This week 125
years ago, the Georgia State Legislature approved the incorporation
of the Commercial Travelers' Savings Bank, the earliest
Georgia forerunner to what is now
SunTrust Banks, Inc. (NYSE: STI).
Founded by 24 people from all walks of life with various
business backgrounds, the institution became known as Trust Company
of Georgia in 1893 and changed its
focus from a savings and loan institution to managing trusts and
engaging in investment banking and underwriting securities.
In 1985, Trust Company of Georgia merged with SunBanks, Inc. of
Florida to form SunTrust Banks,
Inc., representing the Southeast's first regional interstate bank
merger. The company's headquarters was established, and continues
to be, in Atlanta.
Today, SunTrust Banks, Inc. is now a top ten U.S. bank employing
nearly 24,000 people and operating three business segments:
Consumer and Private Wealth Management, Wholesale Banking and
Mortgage. Its retail branches are concentrated in the Southeast and
Mid-Atlantic states, with other business operating
nationally.
Throughout the years, SunTrust's history has been woven into
Atlanta's – from the high-rise
buildings and growth of businesses into international entities, to
the organizations that serve the most basic needs of the
community.
"Celebrating 125 years in our hometown marks a significant
milestone in serving this exceptional community," said SunTrust
Chairman and Chief Executive Officer William H. Rogers, Jr. "While we are proud
of our rich heritage, we also are looking forward to a promising
future – for our company and those who count on us for their
success. Ultimately, our legacy is built by our teammates, our
clients, our shareholders and our community. And none of this would
be possible without the people and businesses that have trusted us
to put their needs first."
To help commemorate its founding in Atlanta 125 years ago, the company hosted an
anniversary ceremony at the Atlanta History Center. As part of that
event, student council representatives from nine Atlanta-area high schools attended the program
themed, You're Never Too Young to Impact Your Community's
History. SunTrust made a $1,000
donation to each school's student council. SunTrust also revealed
the contents of a time capsule from 1972. In addition, the bank
invited the students to contribute items to a new time capsule,
which will be sealed for 25 years and opened in 2041.
"As a purpose-driven company, we believe that everyone can
achieve the financial confidence to pursue a life well spent.
Earlier this year, we launched the onUp movement to encourage
people to take that important first step toward financial
confidence," said Rogers. "Our first 125 years serves as a
launching point for SunTrust as we work to deepen relationships
with our clients and communities for the next century and
beyond."
About SunTrust Banks, Inc.
SunTrust Banks, Inc. is a
purpose-driven company dedicated to Lighting the Way to Financial
Well-Being for the people, businesses, and communities it serves.
Headquartered in Atlanta, the
Company has three business segments: Consumer Banking and Private
Wealth Management, Wholesale Banking, and Mortgage Banking. Its
flagship subsidiary, SunTrust Bank, operates an extensive branch
and ATM network throughout the high-growth Southeast and
Mid-Atlantic states, along with 24-hour digital access. Certain
business lines serve consumer, commercial, corporate, and
institutional clients nationally. As of June
30, 2016, SunTrust had total assets of $199 billion and total deposits of $153 billion. The Company provides deposit,
credit, trust, investment, mortgage, asset management, securities
brokerage, and capital market services. SunTrust leads onUp, a
national movement inspiring Americans to build financial
confidence. Join the movement at onUp.com.
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SOURCE SunTrust Banks, Inc.