ATLANTA, Sept. 18, 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 5.00% from 5.25%, effective September 19,
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 August 1,
2019.
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.