Subsidiaries

SunTrust Bank

SunTrust Bank is an American bank. It was founded 1891 in Atlanta, Georgia, where its headquarters remain. The parent company, SunTrust Banks, Inc. had over $128 billion in assets as of June 30, 2004. SunTrust Bank operates approximately 1,700 bank branches across southeastern states, including Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and Washington, DC.

The company bought Memphis based National Commerce Financial Corporation (NCF) for $7 billion in 2004. In 2005, SunTrust will complete the merger to acquire branches and assets in Tennessee, Arkansas, Mississippi, North Carolina, South Carolina and West Virginia.

A predecessor of SunTrust, the Trust Company of Georgia, helped underwrite the initial public offering of The Coca-Cola Company in 1919 (see [1]). As a result, the bank received some of Coke's publicly traded stock, and SunTrust retains 48.3 million shares (3.58%) of Coke as of 2004. Because of this investment in Coca-Cola, Suntrust is often seen as an attractive stock since this substantial holding helps to buffer the company from the cyclical downturns which affect the banking industry. In addition, the original copy of the formula for Coca-Cola is stored in the main vault at the bank's headquarters in Atlanta.

In 2004, SunTrust signed a marketing agreement with NASCAR declaring that SunTrust was the Official Bank of the popular racing circuit.