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

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SunTrust raised the capital throughu a andother measures. The common stocj offering sold 124.2 million in shares and raise $1.56 billion in new capital. Througb the combination of this equity offering and the completion of an common stock offering thatraised $258 million, the company has raisedd $1.82 billion of Tier 1 common SunTrust also sold shares for a net after-tax gain of $70 Due to the completion of the transactions, $190 milliomn of potential deferred tax assets under Federal Reserve's Supervisory Capital Assessment Program "more adverse" scenario will now contribute to the company'sw Tier 1 common capital buffer requirement.
When combined with the these itemstotal $2.08 billion, or 96 percent of the $2.1y6 billion of Tier 1 common indicatexd by the SCAP. "The positive reaction to our stock offeringy underscores what we believe to bethe market's confidencde in SunTrust, our strategies and, especially, our post-recession growtuh prospects," said James M. Wella III, SunTrust chairman and CEO, in a news Wells also noted that with lessthan $100 million remaining, the company has essentially completesd its common equity capital-generation obligations under SunTrust is the largest financial institution in Orlando with $6.867 billion in deposits, 74 branches and a market share of 21.
4 percent as of June 30, accordinv to the Federal Deposit Insurance Corp.