The bank said it plans to use the capital to expand lending and other business capabilities, and may also explore potential acquisitions.
"Our participation in the Capital Purchase Program enhances SunTrust's already solid capital position and will permit us to further expand our business and take advantage of growth opportunities," James M. Wells III, chairman, president and chief executive, said in a statement.
I thought we were bailing out failing banks?
- All the Companies Making Money From Healthcare.gov in One Chart (23 replies)
- ISIS (90 replies)
- Wanted to publicly thank someone (21 replies)
- Making up new law to circumvent elected control of schools? (31 replies)
- Bill Ailor sued in Circuit Court (7 replies)
- Remedial civics needed in J-school? (7 replies)
- ETSPJ denounces McIntyre - BOE "agreement" (5 replies)
- GOP governors expanding Medicaid (2 replies)
- Surprise, surprise! (44 replies)
- McIntyre: Pregnancy is a "physical disability?" (65 replies)
- Does this make you feel safer? (3 replies)
- He lost me at "one-time cost" (18 replies)