as nyse sti s & p 500 component industry banking founded 1985 ; 31 years ago 1985 headquarters suntrust plaza atlanta georgia u.s. number of locations 1 400 branches 2 160 atms 1 area served southeastern united states key people william h. rogers jr. chairman and ceo products financial services revenue us 8.2 billion fy 2013 2 net income us 1.34 billion fy 2013 2 total assets us 190.8 billion 2016 3 total equity us 21.4 billion fy 2013 4 number of employees 24 00 09 01 2016 website suntrust.com suntrust locations in the united states . suntrust banks inc. is an american bank holding company . the largest subsidiary is suntrust bank . it had us 175 billion in assets as of december 31 2013 . 5 suntrust bank s most direct corporate parent was established in 1891 in atlanta where its headquarters remain . as of september 2016 suntrust bank operates 1 400 bank branches and 2 160 atms across 11 southeastern states and washington d.c. . 1 the bank s primary businesses include deposits lending credit cards as well as trust and investment services . through its various subsidiaries the company provides corporate and investment banking capital market services mortgage banking and wealth management . it has nearly 24 000 employees . contents 1 history 1.1 trust company of georgia 1.2 sun bank 1.3 transformational merger 2 current operations and structure 2.1 executives 3 relationship with coca cola 4 2014 national mortgage settlement 5 controversies 6 buildings and branches 7 references 8 external links history trust company of georgia on 21 september 1891 suntrust s most direct corporate ancestor the trust company of georgia was granted a charter by the georgia general assembly as the commercial travelers savings bank . 6 the founders were john m. green joel hurt h. l. atwater w. a. hansell t. j. hightower j. g. oglesby j. d. turner john b. daniel joseph hirsch leon lieberman louis wellhouse a. j. mcbride d. o. dougherty w. a. gregg w. w. draper a. c. hook w. t. ashford george w. brooke c. i. branan and c. d. montgomery . 7 in november 1893 it restructured as a trust company and renamed itself trust company of georgia . 7 8 sun bank the earliest predecessor of sun bank was founded in 1911 as the people s national bank . in 1920 it became the first national bank . during the great depression the first national bank and trust company failed in the early 1930s . it was reorganized on valentine s day 1934 as the first national bank at orlando . 6 in 1973 the bank merged with other orlando banks to become sun banks . 9 it had three bank related subsidiaries and total assets of 1.713 billion as of december 31 1973 . 10 in the early 1980s sun went on a buying spree that raised at least some eyebrows as it positioned the bank for the state of florida to eventually allow interstate banking . it rolled up 81 year old hillsboro bank based in plant city an institution with 150 million in assets and then the third oldest state chartered bank . it also bought florida state bank of tallahassee which had tried to merge with sun in 1973 but the deal fell apart when the economy soured . 11 then in may 1983 sun announced a deal for miami based flagship bank inc. with 3.3 billion in assets that catapulted sun to be one of the florida s largest bank holding companies . the flagship deal was the seventh struck by sun in less than a year . 11 transformational merger the current suntrust banks inc. was the result of a merger between the trust company of georgia and sunbanks inc. of orlando florida in 1985 . the merged company operated as trust company bank in georgia and sun bank in florida until 1995 when all banks took the suntrust name . in 1986 shortly after the trust company sunbanks merger suntrust purchased third national corporation of nashville though it continued to use the third national name in tennessee until 1995 . suntrust purchased crestar financial corporation of richmond virginia in 1998 expanding the company s footprint into virginia maryland and the district of columbia . crestar s and suntrust s earliest predecessor farmers bank of alexandria was founded in 1811 . 12 in 1988 suntrust is added to the s & p 500 stock price index . 12 in 2001 suntrust purchased the institutional businesses of the robinson humphrey company llc . creating suntrust robinson humphrey . the company bought memphis based national commerce financial corporation ncf for 7 billion in 2004 . the bank operated as national bank of commerce in south carolina tennessee mississippi arkansas alabama georgia virginia and west virginia and as central carolina bank and trust in north carolina . this acquisition allowed suntrust to enter alabama the carolinas and west virginia for the first time and substantially increased its footprint in the other states . 13 in 2013 the bank led a bank group that included fifth third bank and florida community bank that helped finance the acquirement of bel usa the parent company that owns discountmugs by comvest partners a private equity firm . 14 15 16 in 2014 suntrust announced it would launch a medical specialty group to work with independent medical practices . 17 on sept. 16 2014 the atlanta braves announced the name of their new cobb county stadium suntrust park . 18 suntrust park which is expected to be unveiled in time for the first pitch of the 2017 season will serve as the new home of the atlanta braves . the 1.1 billion construction project in cobb county will include restaurants shops offices a hotel and residential spaces directly connected to the park . the braves organization is making history by building out the development at the same time the stadium is being constructed . 19 current operations and structure the company operates three primary business units consumer banking & private wealth management wholesale banking and mortgage . 20 business mix as of june 30 2016 20 business line percentage of revenue consumer banking 32 % corporate & investment banking 20 % commercial & business banking 14 % private wealth management 12 % mortgage 11 % consumer lending 8 % commercial real estate 3 % as of september 2016 suntrust bank operates 1 400 bank branches and 2 160 atms across including alabama arkansas florida georgia maryland mississippi north carolina south carolina tennessee virginia west virginia and washington d.c. 1 executives individual position years william h. rogers jr. chairman president and ceo 2011 present james m. wells iii chairman president and ceo 2007 2011 l. phillip humann chairman president and ceo 1998 2007 james b. jimmy williams chairman president and ceo 1990 1998 robert m. strickland chairman suntrust ; president of trust company in 1973 1978 1990 on april 21 2011 william h. rogers jr. began a transition into the ceo role previously held by jim wells who retired december 31 2011 . formerly suntrust s coo rogers assumed the title of ceo on june 1 2011 . rogers had been named president in 2008 . 21 at that time the current chief financial officer cfo is aleem gillani was named in april 2011 . 22 in 2015 and 2016 two corporate treasurers have gone on to become cfos at large regional banks including kevin blair at zions bancorporation and paul burdiss at synovus 23 24 and a unit strategy head inder m. singh became cfo at it firm unisys . 25 relationship with coca cola suntrust had a long standing relationship with the coca cola company . in 1919 ernest woodruff president of the trust company from 1904 to 1922 and w. c. bradley bought the coca cola company for 25 million and restructured . the trust company of georgia helped underwrite the initial public offering accepting shares of coke in exchange for its services . 8 four years later his son robert w. woodruff was elected coca cola s president a title he would hold until 1954 and was a board member until 1984 . as a result suntrust owned 48.3 million shares 3.58 % of coke as of 2006 which had a gaap cost basis of 110 000 . in addition the original copy of the formula for coca cola was stored in a safe deposit box of an eventual suntrust location in atlanta originally a trust company bank location from 1925 to 2011 . 26 it was eventually moved to a purpose built vault in the world of coca cola also in atlanta . 27 over the years coca cola executives would sit on suntrust s board of directors 28 and suntrust execs would sit on coca cola s board . 29 suntrust started to divest coke shares in may 2007 when it sold 4.5 million or 9 % of its position . 30 in 2008 the bank sold another 10 million shares donated 3.6 million to suntrust s charitable foundation and crafted a plan to sell more shares in 2014 and 2015 . 31 however in september 2012 suntrust sold all of its coke shares at the behest of its primary regulator the federal reserve . 32 suntrust was forced to resubmit its capital plan known as comprehensive capital analysis and review ccar after it failed part of the stress test in march 2012 . the coke shares or any stock holding held by suntrust would weigh on the bank s capital ratio under new capital rules within basel iii . thus suntrust decided to accelerate its plan and sold the coke shares earlier than expected . 33 2014 national mortgage settlement in 2014 the federal government together with state attorneys general in 49 states and the district of columbia reached a settlement requiring suntrust mortgage inc. to provide 500 million in various forms of relief to mortgage borrowers . the united states district court for the district of columbia entered the consent order on september 30 2014 . the consent order addressed suntrust s alleged misconduct regarding its mortgage servicing and foreclosure practices . suntrust was also required to create a 40 million dollar fund for the approximately 45 000 suntrust borrowers who were foreclosed upon between january 1 2008 and december 31 2013 . in addition suntrust was required to adhere to significant new homeowner protections . the consent order required that suntrust follow the servicing standards set up by the 2012 national mortgage settlement nms with the five largest banks . controversies in september 2015 suntrust laid off one hundred it professionals with a controversial severance agreement clause by suntrust that required laid off employees to be available to help without pay for a period of two years . on october 23rd suntrust reversed course and removed the clause to make myself reasonably available to suntrust regarding matters in which i have been involved in the course of my employment with suntrust and or about which i have knowledge as a result of my employment with suntrust . 34 buildings and branches located at 200 south orange avenue the suntrust center is the tallest building in downtown orlando florida . the 35 story 650 000 sq ft 60 000 m2 building was constructed in 1988 at a cost of approximately 100 million . citation needed it is constructed of reinforced concrete and granite with marble finishes and features 17 elevators . suntrust plaza in atlanta georgia suntrust bank in gaithersburg maryland suntrust building in washington d.c. suntrust tower in jacksonville florida suntrust center in orlando florida suntrust building in tampa florida suntrust branch in durham north carolina suntrust bank in hendersonville tennessee references a b c suntrust corporate profile . suntrust.com . retrieved 23 september 2016 . a b suntrust banks sti annual sec income statement filing via wikinvest http www.forbes.com global2000 list search suntrust suntrust banks sti annual sec