Trust Company of Georgia was founded in 1891 under the name Commercial Travelers Savings Bank. It is the most direct ancestor of SunTrust Banks.
SunTrust Banks in its present form is the result of the merger between Trust Company of Georgia and SunBanks, Inc. in 1985.
The new company continued to operate under two different names until 1995 when all banks began operating under the SunTrust name.
In 2015, the company removed a severance clause which required laid off or terminated employees to continue to give their assistance for up to 2 years with no pay.
Today SunTrust operates 1,500 bank branches and 2,243 ATMs across the southern United States.
In May 2019, BB&T Bank has agreed to purchase SunTrust Bank for an estimated $28 billion in stock.
The company paid nearly $1 billion in fines after a US federal probe found irregularities in mortgage orientation, servicing, and foreclosure abuses in 2014.
SunTrust trades publicly on the New York Stock Exchange under the symbol STI, is a member of the S&P 500, is #239 in the Fortune 500, has 22,899 employees, and had $9 billion in revenue in 2018.
SunTrust Banks
Trust Company of Georgia was founded in 1891 under the name Commercial Travelers Savings Bank. It is the most direct ancestor of SunTrust Banks.
SunTrust Banks in its present form is the result of the merger between Trust Company of Georgia and SunBanks, Inc. in 1985.
History
The new company continued to operate under two different names until 1995 when all banks began operating under the SunTrust name.
In 2015, the company removed a severance clause which required laid off or terminated employees to continue to give their assistance for up to 2 years with no pay.
Today SunTrust operates 1,500 bank branches and 2,243 ATMs across the southern United States.
In May 2019, BB&T Bank has agreed to purchase SunTrust Bank for an estimated $28 billion in stock.
The company paid nearly $1 billion in fines after a US federal probe found irregularities in mortgage orientation, servicing, and foreclosure abuses in 2014.
SunTrust trades publicly on the New York Stock Exchange under the symbol STI, is a member of the S&P 500, is #239 in the Fortune 500, has 22,899 employees, and had $9 billion in revenue in 2018.