SunTrust Banks, Inc.
Maximum Amount:
$4.85 billion This institution received funds from the Treasury Department under the Capital Purchase Program in order to promote lending and market liquidity. The institution gives the Treasury Department warrants and dividend payments, while the Treasury buys preferred stock shares from the bank.
On November 14, 2008, the Treasury invested $3.5 billion in SunTrust Banks in return for senior preferred stocks with warrants. On December 31, 2008, the Treasury invested another $1.35 billion in SunTrust Banks, bringing the total investment to $4.85 billion.
On March 30, 2011, SunTrust repaid all $4.85 billion of preferred stock that Treasury held.
Source:
Notes:
Maximum amount based on official Treasury statements. Amount spent indicates loans and purchases minus loan repayments (but not dividends), as of 3/30/2011 (http://www.treasury.gov/initiatives/financial-stability/briefing-room/reports/tarp-transactions/Pages/default.aspx). Deficit impact is net proceeds (excluding dividends) from SunTrust.