M&A Deal Summary

SunTrust Banks Acquires Pillar Financial

On October 20, 2016, SunTrust Banks acquired financial services company Pillar Financial

Acquisition Highlights
  • This is SunTrust Banks’ 9th transaction in the Financial Services sector.
  • This is SunTrust Banks’ 10th transaction in the United States.
  • This is SunTrust Banks’ 1st transaction in New York.

M&A Deal Summary

Date 2016-10-20
Target Pillar Financial
Sector Financial Services
Buyer(s) SunTrust Banks
Deal Type Add-on Acquisition

Target

Pillar Financial

New York, New York, United States
Pillar Financial LLC is a direct lender for multifamily and healthcare properties, serving clients across the US in more than 20 major markets.

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Buyer(S) 1

Buyer

SunTrust Banks

Atlanta, Georgia, United States

Category Company
Founded 1891
Sector Financial Services
Employees24,043
Revenue 8.9B USD (2017)
DESCRIPTION

SunTrust Banks, Inc. is a financial services company. SunTrust 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 December 31, 2018, SunTrust had total assets of $216 billion and total deposits of $163 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services.


DEAL STATS #
Overall 10 of 10
Sector: Financial Services M&A 9 of 9
Type: Add-on Acquisition M&A Deals 6 of 6
State: New York M&A 1 of 1
Country: United States M&A 10 of 10
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-23 FirstAgain

San Diego, California, United States

FirstAgain LLC, is a provider of direct unsecured loans to super-prime borrowers via the Internet. It has developed and operates proprietary technology which offers clients a completely digital and paperless origination, underwriting and servicing experience.

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