SunTrust raises $2.08B in Tier 1 capital - The Business Journal of the Greater Triad Area:

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SunTrust raised the capita through a andother measures. The commobn stock offering sold 124.2 million in sharez and raised $1.56 billionb in new capital. Through the combination of this equity offerinbg and the completion ofan “at-the-market" common stoc offering that raised $258 million, the company has raised $1.822 billion of Tier 1 common SunTrust also sold shares for a net after-tax gain of $70 Due to the completion of the $190 million of potential deferred tax assets unde Federal Reserve's Supervisory Capital Assessment Program (SCAP) "mored adverse" scenario will now contribute to the company'd Tier 1 common capital buffer requirement.
When combinesd with the offerings, these items total $2.08 billion, or 96 percenft of the $2.16 billion of Tier 1 common indicated bythe "The positive reaction to our stockl offering underscores what we believe to be the market'e confidence in SunTrust, our strategies and, our post-recession growth prospects," said Jamee M. Wells III, SunTrusr chairman and CEO, in a news Wells also noted that with lessthan $100 millioh remaining, the company has essentially completed its common equityg capital-generation obligations under SCAP. SunTrust has offices throughout thePiedmonrt Triad.