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?
- FYI: Don't buy a teenage boy a sports car (37 replies)
- UT dropping "Lady" from "Lady Vols" (24 replies)
- UT discontinues Lady Vols Hall of Fame (6 replies)
- Companies accuse Haslam of leading Pilot Flying J fraud (5 replies)
- VW sets new "Community Organization Engagement" policy at Chattanooga Plant (23 replies)
- BlueCross premium hike (14 replies)
- RIP Mike Nichols (3 replies)
- Local Presbyterian church in turmoil over same-sex marriage (7 replies)
- Snow pics from Buffalo (6 replies)
- Haslam named chair of Republican Governors Association, nobody else wanted it (1 reply)
- Geek tip: Trick out your Android keyboard (1 reply)
- Christmas lights at Chilhowee Park (1 reply)