The selection was part of the round of the program. The New Markets Tax Credit Program NMTC is designed to attract investments in rural and urban low-income areas so that jobs can be created, and economic growth will be stimulated.
The foundation was established to advise, guide, and lead people to financial wellness and security. The purpose of the foundation is to provide financial counseling and education, workforce development training and entrepreneurship, develop career readiness, and to inspire thought leadership and create new relationships which support community needs.
SunTrust believes that helping people to achieve financial well-being will result in a life without financial stress.
The bank is dedicated to helping those who need it. The bank formed the medical specialty group to serve the needs of medical practitioners; working with independent practices, their owners, their physicians and families.
The primary offerings were scheduled to be commercial loans and mortgages, financial planning, and investment management. The Atlanta Braves had been at Turner Field since Turner Field was built specifically to be converted into a baseball-only facility when the Summer Olympics ended. It had been leased to the Atlanta Braves for twenty years. The Braves won the game The Charleston Gazette-Mail reported that SunTrust spokesman, Hugh Suhr, confirmed that the decision to close the branches was based upon careful analysis and study though he declined to state details about the closures.
All of the West Virginia branches are located in Putnam and Kanawha counties and they are situated in Kroger stores. That employee was apparently working with someone else to facilitate the information breach. Certain account balances, phone numbers, names, and addresses were potentially exposed. SunTrust assured clients that it was working with law enforcement and other experts to resolve the case and issued apologies for any who were affected by the breach.
Security measures and monitoring of accounts have been increased. Losses on client accounts would not result in holding clients responsible. It is common for active clients to retain teams of lobbyists and to retain several firms to press cases on behalf of clients. SunTrust primarily hired Capitol Counsel with 5 lobbyists. Lienhard has been with the bank for 40 years. He was praised in a news release for his corporate leadership, high levels of client service, and excellent performance levels across the company, including his work as dean of the Advanced Leadership Program.
Koebler has been the consumer solutions executive, but in her duties will include overseeing multiple forms of corporate risk. She will be responsible for technology, market, operational, credit, compliance, and portfolio risks. Entrants may enter for a chance to win once each two-week drawing period.
The company has 1, of them across 10 states including the District of Columbia. During his long career, Woodruff would leave a heavy imprint on Atlanta in the form of numerous donations by the foundation named for him. His family, however, had already made a strong and abiding mark on Trust Company: "From them evolved the bank's steady, glitz-eschewing philosophy," according to Rob Chambers of the Atlanta Journal and Constitution.
That philosophy, along with its mother lode of Coca-Cola stock, ensured steady growth for Trust Company through the ups and downs of the midth century.
By the s, Trust Company had adopted as its logo a "big blue T," with an advertising campaign that centered around that nickname. From the image projected by the bank, the operative term in "Trust Company" was "Trust. The company's stability would become a particularly noteworthy facet in years to come, as one by one its competitors were swallowed by the giants from North Carolina, NationsBank and Wachovia. Georgia Federal, National Bank of Georgia, Fulton Federal, and numerous other former competitors likewise disappeared; only Trust Company remained apart.
When Trust Company, too, ceased to exist, it would not be through acquisition, but through transformation from within. In , Trust Company announced its intention to merge with another bank. A year later, reciprocal interstate banking laws between Georgia and Florida became effective, and on July 1, , Trust Company formally merged with Orlando-based SunBanks. However, as of its only merger, other than the initial one that created the company, came in Now the bank had offices in a wide swath from Miami to the mountains of Tennessee, as well as a tiny foothold in Alabama through Third National, which became SunTrust Banks of Tennessee Inc.
The year was also pivotal in that it saw the formation of the subsidiary SunTrust Securities. In addition, the company created "The SunTrust Vision," a statement of principles which would remain in effect for years to come.
As the mids became the late s, the company's reputation grew. In the energetic, sometimes volatile, business climate of the s, the bank faced serious challenges as well. When it entered the Tennessee market in , the area had seemed a promising one, particularly since Saturn and other automakers had begun moving production facilities there. Yet the local real estate market experienced a sudden and severe downturn, which according to SunTrust's own literature might have had an extremely adverse effect on the company if not for its "quick action to confront this problem.
The increased leveraging of companies in preceding years became a matter of concern, as did real estate lending practices. In , the federal government required substantial increases in deposit insurance premiums. Again, however, SunTrust's foundation--its Coca-Cola stock and its conservative principles--stood it in good stead. Also in that year, it began consolidating its regional banking subsidiaries from a high of 53; within six years, the company had reduced this number to just With the approaching retirement of its first chairman, Bob Strickland, the company in instituted a plan of succession.
Joel Wells became chairman and James B. Likewise in several STI Classic Funds earned national recognition for their strong performances. By that point, STI had made available to the public a total of 18 different funds. Also in , the company formed SunTrust Capital Markets and inaugurated a series of growth initiatives to increase revenue and core earnings.
In and , the company took steps to consolidate all subsidiaries under the SunTrust brand name. Up until then, for instance, the Georgia subsidiary had continued to operate under the Trust Company name with the "big blue T" logo.
In Florida, moreover, where a number of local bankers took pride in the fact that the devastation wrought by Hurricane Andrew had not presented a major setback to SunBanks, the sun was finally setting. In a bittersweet profile, the Wall Street Journal reported on one tangible consequence of SunTrust's decision to bring all its banks together under one brand-name, which went into full effect in The following year his son, Robert Woodruff , became the president of Coca-Cola, a position he held until During the s the Trust Company participated in three mergers.
The resulting entity, First National Bank, was broken up by the passage of the Banking Act of , also known as the Glass-Steagall Act, which left the Trust Company as a wholly independent institution for the first time in more than ten years. From that point forward the bank began a dependable record of growth. By the mids it had absorbed banks in five of the largest Georgia cities outside Atlanta— Augusta , Columbus, Macon , Rome , and Savannah.
Merging in with SunBanks of Florida, the new entity acquired the Third National Corporation, then the second-largest bank-holding company in Tennessee. By , doing business under the name SunTrust, the institution pursued a series of major acquisitions, including the purchase of Crestar Financial Corporation in , which extended SunTrust into Virginia, Maryland, and the District of Columbia.
This largely successful series of acquisitions was marred in May , when chair and chief executive L. Throughout the summer of , in a contest that would cost both banks millions of dollars in advertising and legal fees, First Union and SunTrust tried to woo Wachovia shareholders. In the end SunTrust was unable to prevent the proposed merger, and shareholders at Wachovia voted in early August to accept the First Union bid.
Historically, SunTrust was a trust company—that is, it administered the wills and legacies of a typically wealthy clientele. But it also served as a lender to and an investor in large business ventures, making available large-scale credit to businesses while the South was predominantly rural. In this capacity SunTrust, like many large banks, came to be regarded as a quasi-public institution.
In its early years particularly, the Trust Company played a critical role in recapitalizing the South, which, even four decades after the end of the Civil War , still discouraged investment with prohibitive restrictions on lending. As the South formed an industrial base after World War II, the bank diversified by taking on the critical accounting functions of such larger industrial firms as the Southern Company and the young Dalton Carpet.
Individual officers of the bank enjoyed a close relationship with the city of Atlanta. The Woodruff family, apart from its relationship with Coca-Cola, has been the patron of several philanthropic causes, most visibly on the campus of Emory University. John A.
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