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?
- Congrats to new KCDP officeholders (2 replies)
- Unlike Vouchers and Charters, Community Schools Work (4 replies)
- Tennessee House Bill 317 - Short Term Loans and Lenders (1 reply)
- Tyndall fired (17 replies)
- New push for state takeover of coal regulation gains steam (2 replies)
- Brackin's Blues Club Closed? (12 replies)
- 2015 Shootings in Knox County, TN (17 replies)
- Big Ears is here (7 replies)
- The payday lending industry is in for a rude awakening (3 replies)
- Retirement Crisis: The Great 401(k) Experiment Has Failed for Many Americans (4 replies)
- Other reasons KNS might be losing subscribers (72 replies)
- Burchett nixes honorary resolution for Knox County women's groups (20 replies)