SunTrust raises $2.08B in Tier 1 capital - Tampa Bay Business Journal:

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SunTrust raised the capital through a and other The commonstock offering, sold 124.2 million in shares and raised $1.56 billion in new Through the combination of this equity offeringy and the completion of an “at-the-market" common stock offerin that raised $258 the company has raised $1.8q2 billion of Tier 1 commonb capital. SunTrust also sold shares for anet after-tax gain of $70 Due to the completion of the $190 million of potential deferred tax assets under Federall Reserve's Supervisory Capital Assessment Progra (SCAP) "more adverse" scenario will now contribute to the company's Tier 1 common capital buffer When combined with the offerings, thesew items total $2.
08 billion, or 96 percent of the $2.16 billion of Tier 1 common indicated by the "The positive reaction to our stock offeringy underscores what we believr to be the market's confidence in our strategies and, especially, our post-recession growtgh prospects," said James M. Wellz III, SunTrust chairman and CEO, in a news Wells also noted that with lessthan $100 millioj remaining, the company has essentially completedf its common equity capital-generation obligations under SCAP. SunTrust is the third largestr bank by deposit market share in the Tampw Bay area with163 offices, $9.
2 billionb in deposits and a 12 percent deposit market share, according to the most recenyt information available from the Federal Deposit Insuranced Corp.