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SunTrust Robinson Humphrey Partners With Trapeza Funding LLC For Trust Preferred Securities

Sep 12, 2002

SunTrust Robinson Humphrey announced today it has formed a partnership with Trapeza Funding LLC for purchasing privately placed trust preferred securities issued by community banks. The partnership will build upon SunTrust's existing capabilities for serving the capital needs of its community banking clients and provide a certainty of funding, a certainty of coupon, and flexibility to issuers of trust preferreds as SunTrust Robinson Humphrey and Trapeza continue to warehouse the securities.

"We have independently developed similar products that help facilitate this low-cost alternative to traditional debt or common equity financing and concluded that there are increased opportunities for serving clients' needs for raising capital by combining our efforts," said Bill Herrell of SunTrust Robinson Humphrey Capital Markets. "Both of our organizations share a long- term commitment to the community banking industry and we see many synergies and limited duplication in combining our origination models. This will enhance SunTrust Robinson Humphrey's existing expertise and concentrated focus on serving the needs of financial institutions."

"The combination of Trapeza and SunTrust Robinson Humphrey not only benefits our trust preferred programs, but also community banks and thrifts because of our ability to price and close transactions without regard to what is happening in the capital markets and without pricing surprises or cutbacks," remarked Steve Stein, a managing member of Trapeza. "This is simply the best trust preferred program available."

Trapeza Funding LLC is a joint venture between Financial Stocks, Inc. a registered investment advisor, and Resource America, Inc. , a financial services company, each with extensive experience in the small and mid-cap bank, thrift, insurance and specialty finance sectors.

SunTrust Robinson Humphrey Capital Markets is a unit of SunTrust Banks, Inc., one of the nation's largest commercial banking organizations with $108.0 billion in total assets. SunTrust Robinson Humphrey provides equity research, investment banking, institutional sales and trading, and debt capital solutions to growing companies. By combining complementary strengths in products and services with in-depth industry knowledge, the company provides clients with innovative financial strategies and solutions. Based in Atlanta, SunTrust Robinson Humphrey maintains a strategic network of offices in Boston, Miami, Nashville, New York, Orlando, Pittsburgh, Richmond and Tampa.


SOURCE: SunTrust Banks, Inc.

CONTACT: Hugh Suhr of SunTrust Banks, Inc., +1-404-827-6813