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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JUNE 2, 2003
SunTrust Banks, Inc.
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(Exact name of registrant as specified in its charter)
Georgia 001-08918 58-1575035
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(State of incorporation) (Commission File Number) (IRS Employer Identification No.)
303 Peachtree Street, N.E. 30308
Atlanta, Georgia ---------
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(Address of principal executive offices)
Registrant's telephone number, including area code: 404-588-7165
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ITEM 9. REGULATION FD DISCLOSURE.
The purpose of this Current Report on Form 8-K is to announce the
effectiveness of the merger of Lighthouse Financial Services, Inc. with and into
SunTrust Bank Holding Company, a wholly-owned subsidiary of SunTrust Banks, Inc.
ATLANTA -- SunTrust Banks, Inc. (NYSE: STI) today completed its
acquisition of Hilton Head Island, S.C.- based Lighthouse Financial Services,
Inc.
The previously announced $130 million purchase price was paid to
Lighthouse shareholders in a combination of cash and SunTrust stock, which
equates to approximately $42.80 for each outstanding share of Lighthouse common
stock. Lighthouse stock is not publicly traded, and the company is owned by
approximately 400 stockholders, primarily local residents.
SunTrust will continue to operate the Lighthouse business under the
Lighthouse name until the conversion of customer accounts in early 2004, at
which time the name will change to SunTrust. Lighthouse will operate as a
locally managed banking unit under the continuing leadership of current
Lighthouse CEO Jerry Caldwell and President Terry Rohlfing. Organizationally, it
is part of SunTrust's Central Group, which also includes the bank's operations
in Georgia, Tennessee and Alabama. SunTrust reiterated its expectation that most
of Lighthouse's approximately 170 employees will remain with the Company.
"With formal completion of this transaction, all of us at Lighthouse
are committed to bringing to our customers the benefits that come from being
part of one of the nation's largest and strongest banking organizations," said
Jerry Caldwell. "We remain focused on providing our customers with the superior
service that they've come to expect, and our number one priority now is to
ensure a smooth and seamless customer conversion."
"We are pleased to enter this special market and be able to offer
Lighthouse customers a broader range of investment and banking services through
the same locally focused, experienced management team" said Jenner Wood,
Chairman, President and CEO of SunTrust's Central Banking Group.
SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the
nation's largest commercial banking organizations. As of March 31, 2003,
SunTrust had total assets of $120 billion and total deposits of $78 billion. The
company operates through an extensive distribution network primarily in Florida,
Georgia, Maryland, Tennessee, Virginia and the District of Columbia and also
serves customers in selected markets nationally. Its primary businesses include
deposit, credit, trust and investment services. Through various subsidiaries the
company provides credit cards, mortgage banking, insurance, brokerage and
capital markets services. SunTrust's Internet address is www.suntrust.com.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Current Report on Form 8-K to be signed on
its behalf by the undersigned, hereunto duly authorized.
Date: June 2, 2003 SUNTRUST BANKS, INC.
By: /s/ Raymond D. Fortin
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Raymond D. Fortin
Senior Vice President
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