Bank pushes revival mode

SunTrust Banks announced Friday that it would sell up to $1.25 billion in common stock and slash its dividend as part of a plan to satisfy the federal government’s order to shore up its capital buffer by $2.2 billion.

McKenna Long & Aldridge Managing Director Brian Olasov said raising the capital may not simply be a defensive move for SunTrust.

“SunTrust can be very opportunistic and sweep in on these community banks and build a very attractive market share,” Olasov said.

This article appeared in its entirety in the May 16 edition of the Atlanta Journal Constitution.