In 2013, it was ordered to pay $1.5 billion "to resolve claims of shoddy mortgage lending, servicing and foreclosure practices,"[4] and it reached a preliminary $968 Million settlement with the US government in 2014.
[8] 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.
The newly merged company made its first major deal a year later, when it purchased Third National Corporation of Nashville.
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.
[23] Trust Company of Georgia, the oldest progenitor of SunTrust, was rebuffed in an effort to buy Robinson-Humphrey in 1917.
Robinson and William G. Humphrey, a bond trader from Toledo, Ohio, eventually incorporated The Robinson-Humphrey Co. in 1902.
[23] Martin was at the helm when Robinson-Humphrey commissioned the building of the bold Atlanta Financial Center in city's tony Buckhead business district in the early 1980s.
Under AmEx, the firm operated as part of Shearson Lehman Brothers Inc.[22] In 1993, deal maker Sandy Weill orchestrated a deal for Shearson's retail division, and Robinson-Humphrey was included in the sale, using the Smith Barney unit of Primerica Corp.[22] On February 7, 2019, BB&T Corporation reported that it would acquire SunTrust to create the sixth-largest US bank, with assets of $442 billion and market capitalization around $66 billion.
BB&T will be the nominal survivor, but the merged bank will be headquartered in Charlotte under a new name, Truist Financial Corporation.
[30] 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.
[31] At that time, the current Chief Financial Officer (CFO) is Aleem Gillani was named in April 2011.
[32] 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,[33][34] and a unit strategy head, Inder M. Singh, became CFO at IT firm Unisys.
The Trust Company of Georgia helped underwrite the initial public offering, accepting shares of Coke in exchange for its services.
[36] 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.
The consent order addressed SunTrust's alleged misconduct regarding its mortgage servicing and foreclosure practices.
The consent order required that SunTrust follow the servicing standards set up by the 2012 National Mortgage Settlement (NMS) with the five largest banks.
"[45] Located at 200 South Orange Avenue, The SunTrust Center is the tallest building in downtown Orlando, Florida.
[citation needed] It is constructed of reinforced concrete and granite with marble finishes and features 17 elevators.