SunTrust Completes Repurchase of Preferred Stock Under TARP

SunTrust Banks. Inc. STI today announced that it has completed its previously announced repurchase of $3.50 billion of Fixed Rate Cumulative Preferred Stock, Series C and $1.35 billion of Fixed Rate Cumulative Preferred Stock, Series D held by the United States Treasury under the Troubled Asset Relief Program's Capital Purchase Program. SunTrust conducted a successful $1.04 billion common stock offering followed by a $1 billion senior debt offering earlier this month as key steps in its plans to repurchase the preferred stock issued under TARP.