ATLANTA - SunTrust Banks Inc. said Wednesday that all seven of its bank subsidiaries will adopt the holding company name this fall. The new signs outside every branch in Georgia, Florida, and Tennessee will carry the name "SunTrust" in white letters on a blue background.
SunTrust spokesman Jim Armstrong said the bank's board decided on the move at its quarterly meeting Tuesday after considering the idea, off and on, since the holding company was formed in 1985. SunTrust charged $9 million of expenses in the fourth quarter to pay for the marketing campaign and sign change this year.
Mr. Armstrong said that SunTrust subsidiaries - the major three are Trust Company of Georgia; SunBanks Inc., Orlando, Fla., and Nashville-based Third National Corp. - will continue to retain their separate charters and operational autonomy.
SunTrust, based in Atlanta, has $42 billion of assets.