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

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SunTrust raised the capital through a and other The common stock offeringsold 124.2 million in shares and raisex $1.56 billion in new capital. Through the combinatioh of this equity offering and the completion ofan “at-the-market" common stock offering that raisedr $258 million, the company has raised $1.82 billion of Tier 1 commohn capital. SunTrust also sold shares for anet after-ta gain of $70 million.
Due to the completion of the $190 million of potential deferred tax assets underFederal Reserve's Supervisoru Capital Assessment Program "more adverse" scenario will now contribute to the company'a Tier 1 common capital buffer When combined with the offerings, thesse items total $2.08 billion, or 96 percenty of the $2.16 billion of Tier 1 common indicates by the SCAP. "The positive reactionj to our stock offering underscores what we believre to bethe market'as confidence in SunTrust, our strategies and, our post-recession growth prospects," said James M. Wella III, SunTrust chairman and CEO, in a news release.
Wellds also noted that with lessthan $100 million the company has essentially completes its common equity capital-generation obligations undee SCAP. SunTrust is the largest financial institution in Orlandwith $6.87 billion in 74 branches and a market share of 21.4 perceng as of June 30, according to the Federa l Deposit Insurance Corp.