SunTrust Mortgage Announces Change to Planned Leadership Move

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^{Published in Business and Finance on Monday, July 2nd 2012 at 7:26 GMT by Market Wire}  

SunTrust Mortgage Announces Change to Planned Leadership Move -- ATLANTA, July 2, 2012 /PRNewswire/ --

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ATLANTA, July 2, 2012 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: [ STI ]) today announced that the Company and David Stevens have mutually agreed that Mr. Stevens will not join SunTrust Mortgage as previously announced and will remain in his post as head of the Mortgage Bankers Association.

Mr. Stevens was to have joined the Company on July 16, reporting to SunTrust Mortgage President and CEO Jerome Lienhard.

"We have a strong leadership team in place, and continue to execute our business plan and serve the needs of the clients of SunTrust Mortgage," said Mr. Lienhard.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients.   As of March 31, 2012, SunTrust had total assets of $178.2 billion and total deposits of $130.0 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 various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.

SOURCE SunTrust Banks, Inc.

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