SunTrust Bank Increases Prime Rate
ATLANTA, Dec. 13, 2017 /PRNewswire/ -- Following the Federal Reserve's announcement to increase the Federal Funds rate, SunTrust Bank announced today it has increased its prime lending rate to 4.50% from 4.25%, effective December 14, 2017. 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 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. 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 September 30, 2017, SunTrust had total assets of $208 billion and total deposits of $163 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com. SunTrust Banks, Inc., Member FDIC. View original content:http://www.prnewswire.com/news-releases/suntrust-bank-increases-prime-rate-300571081.html SOURCE SunTrust Banks, Inc. |
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