SunTrust Bank

SunTrust Bank is an American bank. It was founded 1891 in Atlanta, Georgia, where its headquarters still remain today. The parent company, SunTrust Banks, Inc. had over $128 billion in assets as of June 2004. Operating more than 1,700 bank branches, SunTrust Bank has locations across many southeastern states, including Alabama, North Carolina, Florida, Georgia, Maryland, South Carolina, Tennessee, Virginia, West Virginia, and Washington, DC.  The company bought Memphis based National Commerce Financial Corporation (NCF) for $7 billion in 2004. This merger enables SunTrust to acquire branches and assets in Tennessee, Arkansas, Mississippi, North Carolina, and South Carolina.

A predecessor of SunTrust, the Trust Company of Georgia, helped underwrite the initial public offering of The Coca-Cola Company in 1919.  As a result, the bank received some of Coke's publicly traded stock, and SunTrust retains 48.3 million shares (3.58%) of Coke as of 2004. Because of this investment in Coca-Cola, SunTrust is often seen as an attractive stock since this substantial holding helps to buffer the company from the cyclical downturns which affect the banking industry.   In addition, the original copy of the formula for Coca-Cola is stored in the main vault at the bank's headquarters in Atlanta.  In 2004, SunTrust signed a marketing agreement with NASCAR declaring that SunTrust was the Official Bank of the popular racing circuit.

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For those consumers interested in eliminating their high-interest credit card balances and other debt, consolidation may be the answer.  SunTrust offers the following lending programs and services, with features and benefits such as:

SunTrust Access 3 Equity Line
Ideal for debt consolidation, an Access 3 Equity Line offers the flexibility to choose the repayment options that best fit your individual needs.

• Borrow up to 100% of your home's equity;
• No closing costs;
• Interest may be tax deductible (contact your tax advisor);
• 10-year draw period;
• No minimum draw requirements at closing;
• Prime for Life—interest rates as low as 8%.

SunTrust Home Equity Loan
If a fixed interest rate is important to you, or if you want to budget for a regular monthly payment, consider a SunTrust Home Equity Loan.

• Fixed monthly payments;
• Interest may be tax deductible;
• Reduce your annual interest rate by 1/4% on loans of $10,000 or more by having payments automatically transferred from your SunTrust Bank checking, savings, or money market account;
• Available in AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, WV, and DC;
• Interest rates as low as 7.49%.

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