SunTrust to cut 40 branches in first quarter of 2013
by The Atlanta Business Chronicle
Mar 06, 2013 | 959 views | 0 0 comments | 4 4 recommendations | email to a friend | print
SunTrust Banks Inc. plans to close “about 40 branches” in the first quarter of 2013, Chairman and CEO William Henry Rogers told analysts at a Citigroup U.S. Financial Services Conference March 5.

“Branch staffing is down by 14 percent since 2010, and we’ve also begun trimming our branch network,” Rogers told analysts.

Atlanta-based SunTrust (NYSE: STI) closed 43 branches in 2012 “and we expect about a 40-branch reduction in the first quarter,” he added.

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