News Releases

Back to News Releases

SunTrust Expands Commercial Leasing Business in Five U.S. Cities

May 3, 2004

SunTrust Banks, Inc., announced today that its commercial leasing subsidiary, SunTrust Leasing Corporation, has opened five new offices in key U.S. markets. The new offices are located in Boston, Chicago, Long Island, Minneapolis and Columbus, Ohio.

"Continued expansion into high-potential markets is a strategic priority for us," said Dan McKew, President and CEO of SunTrust Leasing Corporation. "Our presence in these cities allows us to better serve our existing clients and attract new ones. We are excited about this opportunity and look forward to providing our financing expertise, specialized industry knowledge, and high-quality service to clients in these cities and surrounding markets."

With $3.6 billion in assets, Baltimore-based SunTrust Leasing Corporation has become the nation's ninth-largest bank leasing company by providing strategic financing solutions to a broad range of municipalities and organizations. With specific expertise in a variety of industries including construction, energy, manufacturing, food and beverage, healthcare and transportation, SunTrust Leasing offers an alternative, and often tax- advantaged, financing vehicle for a variety of commercial equipment including construction, printing, medical and computer equipment as well as corporate aircraft. SunTrust Leasing Corporation serves clients nationwide and in select markets overseas through its offices in Atlanta, Baltimore, Boston, Chicago, Columbus, Ft. Lauderdale, Los Angeles, Long Island, Minneapolis, Nashville, Orlando, Raleigh-Durham, Richmond, Sarasota and Washington, D.C.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of March 31, 2004, SunTrust had total assets of $125.2 billion and total deposits of $80.9 billion. The company operates through an extensive distribution network primarily in 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: Hugh Suhr of SunTrust Banks, Inc., +1-404-827-6813