SunTrust Repays TARP; Bailout of Banks in Black
Press release from the issuing company
Thursday, March 31st, 2011
SunTrust Banks said it has repaid the government the nearly $5 billion in aid it received during the financial crisis.
Atlanta-based SunTrust had been the largest of major banks that hadn’t repaid its Troubled Asset Relief Fund assistance. The U.S. Treasury said SunTrust’s payment helped bring the program to prop up banks into the black.
Two other U.S. banks also announced Wednesday they repaid government bailouts, and Treasury said its $245 billion in crisis aid to nation’s banks has now turned a profit of $6 billion, including interest and dividends.
