WASHINGTON -- SunTrust Banks Inc. said it is considering acquiring the approximately 85% of Florida Westcoast Banks Inc. that it does not already own.
SunTrust disclosed the possibility of an acquisition in a filing with the Securities and Exchange Commission.
Merger Talks Preliminary
Atlanta-based SunTrust, which was a losing bidder for the failed Southeast Bank of Miami, holds 148,236 common shares of Florida Westcoast, or a 14.46% stake.
The company said it has reviewed corporate data of Florida Westcoast and held general, preliminary merger talks.
SunTrust was the nation's 18th largest banking company at midyear with $33 billion in assets. Florida Westcoast, based in Venice, had $395 million in assets on March 31.