ATLANTA, Dec. 16, 2015 /PRNewswire/ -- SunTrust Bank announced today it has increased its prime lending rate to 3.50% from 3.25%, effective December 17, 2015. 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 December 17, 2008.
About SunTrust Banks, Inc.
SunTrust Banks, Inc., (NYSE: STI) one of the nation's largest financial services organizations, is dedicated to Lighting the Way to Financial Well-Being for its clients and communities. Headquartered in Atlanta, the company serves a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2015, SunTrust had total assets of $187 billion and total deposits of $146 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust's Internet address is suntrust.com.
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SOURCE SunTrust Banks, Inc.