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SunTrust Bank Lowers Prime Rate

Nov 6, 2001

SunTrust Bank announced today it has lowered its prime lending rate to 5.00% from 5.50%, effective Wednesday, November 7. The prime rate is a benchmark used to set interest rates on various forms of corporate and consumer credit. The prime rate last changed on October 3, 2001.

SunTrust Banks, Inc. , headquartered in Atlanta, Georgia, is the nation's ninth-largest commercial banking organization. As of September 30, 2001, SunTrust had total assets of $103.3 billion and total deposits of $63.1 billion. The company operates through an extensive distribution network in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is .


SOURCE: SunTrust Banks, Inc.

Contact: Mike McCoy of SunTrust Banks, +1-404-588-7230