ATLANTA, July 31, 2019 /PRNewswire/ -- Following the
Federal Reserve's announcement to lower the Federal Funds rate,
SunTrust Bank announced today it has lowered its prime lending rate
to 5.25% from 5.50%, effective August 1,
2019. The prime rate is a benchmark used to set interest
rates on various forms of consumer and commercial loans. The prime
rate last changed on December 20,
2018.
About SunTrust Banks, Inc.
SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven
company dedicated to Lighting the Way to Financial Well-Being for
the people, businesses, and communities it serves. SunTrust leads
onUp, a national movement inspiring Americans to build financial
confidence. Headquartered in Atlanta, the Company has two
business segments: Consumer and Wholesale. Its flagship subsidiary,
SunTrust Bank, operates an extensive branch and ATM network
throughout the high-growth Southeast and Mid-Atlantic states, along
with 24-hour digital access. Certain business lines serve consumer,
commercial, corporate, and institutional clients nationally. As
of June 30, 2019, SunTrust had total assets of $222
billion and total deposits of $161 billion. The Company
provides deposit, credit, trust, investment, mortgage, asset
management, securities brokerage, and capital market services.
Learn more at suntrust.com.
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SOURCE SunTrust Banks, Inc.