Coca Cola’s Original Formula is in The SunTrust Safe in Atlanta

Posted by Richard Moran

August 22, 2009

by Richard Moran

SunTrust is the largest ancilliary of SunTrust Banks, Inc. In June of 2008, this bank had nearly $2,000,000,000 in assets. The SunTrust Bank head offices are located in Atlanta, GA, where they have been since the Eighteen-Nineties, as SunTrust’s parent company began here. SunTrust Bank locations are all over the southern states. Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West Virginia are all states with branches. In this writing, we will offer more information and some brief history of SunTrust Bank.

The Farmer’s Bank of Alexandria, Virginia was founded in 1811, and this was the earliest “parent” to the SunTrust Bank. The Farmer’s Bank is the corporate version of the Trust Company of Georgia founded in 1891. For its first two years the Bank was originally called Commercial Traveler’s Savings Banks. It then was renamed the Trust Company of Georgia. The SunTrust Bank of our modern times came about because of a corporate banking merger. The Trust Company of Georgia and SunBanks, from Florida became one and is operated as SunTrust Banks. Many branches of this bank did not switch over to the name SunTrust until 1995.

After the union in 1985, SunTrust Banks, Inc. started to purchase other financial institutions and businesses. In 1986, SunTrust purchased Third National Corporation of Tenn.. In 1998, SunTrust purchased Crestar Financial of Virgina and in 2001 SunTrust attempted to acquire Wachovia, but they were unsuccessful. Instead, Wachovia merged with another bank, First Union. In 2004, SunTrust bought the National Commerce Financial Corporation, which was based out of Memphis. They made this purchase for about $7 billion. Once this purchase was made, it gave SunTrust branches in both North and South Carolina, Mississippi, Alabama, Tennessee, Virginia, West Virginia and Georgia. SunTrust has more recently purchased GB&T Bancshares for just under $154 million. GB&T will now mainly be folded into the SunTrust Atlanta, Georgia banking region. SunTrust has been working diligently to strengthen its assets since its creation in 1985. As of now, there are whisperings going around that SunTrust may be taken over by a larger bank in the near future. There is no date that is set in stone when it will be known whether or not SunTrust will be taken over. And with the state-of-affairs the bank holding companies have become very conservative in their acquisitions.

Coke and Suntrust have been cousins of sorts for years. The original financing for Coca-Cola was handled by SunTrust’s predecessor The Trust Company of Georgia. Right now the number one company secret in the world - the Coca-Cola Formula - resides in the SunTrust safe in Atlanta. SunTrust also puts its money where its mouth is - that is they own about 50 million shares of the Coke Company - another safe bet, recently the stock, even in this down market was selling in the high $40’s - a nice chunk of money.

About the Author:

Richard Moran consults and lectures on many marketing, banking, and internet subjects. Additional information, articles, and interesting products to aid in your financial decisions may be found on this banking information. He has no affiliation to either either company mentioned in the article.

Credit Card

Tags:Credit Card
Technorati Tags:Credit Card

If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments

No comments yet.

Ebay Deals on Credit Card

[CaRP] Can't open cache file.

Credit Card

Vintage Silk Scarf, (260A)
4 Aug 2010 at 9:14am
US $7.97 (1 Bid)
End Date: Monday Aug-09-2010 7:14:46 PDT
Bid now | Add to watch list

200 Chrome Tire Valve Caps
11 Apr 2010 at 9:09am
US $29.95
End Date: Monday Aug-09-2010 7:14:46 PDT
Buy It Now for only: US $29.95
Buy it now | Add to watch list

GOLD PLATED Bridal Kundan Necklace set with Earring
2 Aug 2010 at 9:14am
US $12.98 (0 Bid)
End Date: Monday Aug-09-2010 7:14:46 PDT
Bid now | Add to watch list

01 02 FORD EXPLORER ANTI-LOCK BRAKE PART
11 May 2010 at 9:09am
US $85.00
End Date: Monday Aug-09-2010 7:14:46 PDT
Buy It Now for only: US $85.00
Buy it now | Add to watch list

99 00 01 02 SILVERADO 1500 WINDSHIELD WIPER MTR
10 Jun 2010 at 9:09am
US $35.00
End Date: Monday Aug-09-2010 7:14:46 PDT
Buy It Now for only: US $35.00
Buy it now | Add to watch list