SunTrust Banks, Inc. (NYSE:STI) Files An 8-K Other Events
Item 8.01. Other Events.
SUNTRUST BANKS INC Exhibit
EX-99.1 2 d704775dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 BB&T Contacts: SunTrust Contacts: Media Media Media Brian Davis Sue Mallino Tom Johnson (336) 733-2542 (404) 813-0463 (212) 371-5999 BB&T Corporate Communications SunTrust Corporate Communications Abernathy MacGregor Group [email protected] [email protected] [email protected] Investors Investors Richard Baytosh Ankur Vyas BB&T Investor Relations Director of Investor Relations (336) 733-0732 (404) 827-6714 [email protected] [email protected] BB&T and SunTrust to Combine in Merger of Equals to Create the Premier Financial Institution Combination of two iconic franchises creates sixth-largest U.S. bank holding company with 275 years of combined history and culture serving clients and communities in high-growth markets Enhanced scale and financial strength will accelerate investment in transformative technology to embrace disruption and create a more distinctive client experience Expanded fee income base will create opportunities to build scale in specialized businesses across a larger client base Compelling value creation expected for both companies shareholders as demonstrated by double-digit earnings per share accretion by 2021 Estimated net cost synergies of at least $1.6 billion by 2022 Proven management teams with history of successful merger integrations,…
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About SunTrust Banks, Inc. (NYSE:STI)
SunTrust Banks, Inc. is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services. The Company operates through three segments: Consumer Banking and Private Wealth Management, Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment, which includes the management of the Company’s investment securities portfolio, long-term debt, end user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and real estate assets. The Company operates primarily within Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia.