ATLANTA, April 30, 2018 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) announced that it will sunset the Pillar Financial brand name, effective April 30, 2018. This reflects the full integration of Pillar's capabilities into the SunTrust Commercial Real Estate (CRE) platform, and its importance as a core capability of the bank.
"Pillar has been a fantastic addition to our commercial real estate platform, filling a unique need for our clients, and making SunTrust one of a select few Agency lenders. This change reflects both how Pillar fits seamlessly into our capability set and how we go to market in advising our clients as one team," said Kathy Farrell, Commercial Real Estate executive at SunTrust.
With these fully integrated capabilities, SunTrust offers a suite of Fannie Mae, Freddie Mac and HUD-insured loan products to owners of multifamily housing and healthcare properties across the country. SunTrust provides third party servicing of these and other loans through Cohen Financial. Cohen Financial, which was also part of the Pillar acquisition, will retain its name and continue to operate as a component of the SunTrust CRE line of business.
About SunTrust CRE SunTrust CRE provides banking and capital markets solutions to commercial real estate developers, owners, and operators on a national and local basis through its Institutional, Regional CRE, and Real Estate Investment Banking businesses, as well as SunTrust Community Capital.
About SunTrust Banks, Inc. SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. 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 March 31, 2018, SunTrust had total assets of $205 billion and total deposits of $162 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Learn more at suntrust.com.
SOURCE SunTrust Banks, Inc.
Thomas Crosson, (470) 218-9178