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SunTrust completes $122.7 million GB&T Bancshares deal

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May 1, 2008

ATLANTA—SunTrust Banks Inc. has completed its $122.7 million acquisition of GB&T Bancshares Inc., a deal the bank inked to expand its footprint in suburban Atlanta, the company said Thursday.

SunTrust Banks issued 0.1562 shares of its stock for each GB&T share, resulting in 2.2 million shares issued to GB&T shareholders.

GB&T contributed $1.5 billion in deposits and 17 branches to SunTrust's business in Georgia.

(This version CORRECTS Corrects value of deal)

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