SunTrust Banks Inc. said it is close to raising enough capital to satisfy regulators.
The $179.1 billion-asset Atlanta company said Monday that it has raised 96% of the $2.16 billion of capital required by the Treasury Department following the stress tests. SunTrust said $1.56 billion came from selling common stock, and $70 million came from selling stock in Visa Inc.
The company has also been looking to exchange common stock for preferred and hybrid securities. James M. Wells 3rd, SunTrust's chairman and CEO, said in a press release that it is "carefully evaluating" ways to raise the remaining $80 million.
