SunTrust 2003 Annual Report Download - page 7

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Annual Report 2003 SunTrust Banks, Inc. 5
SunTrust Mortgage expanded market share within the SunTrust footprint
through the acquisition of Sun America Mortgage Corp. in Atlanta, and the
opening of two new mortgage offices in Alpharetta and Peachtree City,
GA. Additionally, with completion of the Lighthouse merger,
SunTrust became the number-one mortgage lender in the Hilton
Head market. Through joint-venture partnerships, the mort-
gage unit further expanded its presence in key markets
such as Atlanta and Nashville, TN, as well as in
select out-of-footprint markets such as
Indianapolis, IN.
As part of a continuing branch expansion
effort, we opened 39 new retail branches
in particularly fast-growing spots including
Atlanta, Washington, DC, and Central and
South Florida. Branch openings are based on
intensive research on population growth and traffic
patterns. This same research leads to the reposition-
ing of less profitable branches. We want our branches
in the best locations from a customer standpoint while
also meeting our own financial performance standards.
A new branch prototype design helps pattern our branch expan-
sion. The prototype establishes a more customer-friendly physical
environment that complements our sales and service focus while
providing us with an ongoing research and development capability.
This new concept, coupled with more standardized construction
processes and product delivery, helps shorten the time needed for
new offices to achieve profitability.
Looking beyond branches, we built an additional customer call center in
Cookeville, TN. It replaces three older facilities and will efficiently accommodate
anticipated growth in telephone sales and service volume. Each month our call
centers handle more than 100,000 inbound sales calls – half of which turn into
A new branch design creates a more
inviting customer experience, better
complements our sales and service
efforts and provides a cost-effective
platform to expand SunTrust’s retail
presence in a standardized fashion.