SunTrust 2012 Annual Report Download - page 23

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with the SEC. GenSpring is a wealth management firm registered with the SEC and a member of the National Futures
Association. Furthermore, under the Dodd-Frank Act, the Federal Reserve may regulate and supervise any subsidiary of the
Company to determine (i) the nature of the operations and financial condition of the company, (ii) the financial, operational
and other risks of the company, (iii) the systems for monitoring and controlling such risks and (iv) compliance with Title I of
the Dodd-Frank Act.
Competition
SunTrust's primary operating footprint is in the Southeast and Mid-Atlantic U.S., though certain lines of business serve broader,
national markets. Within those markets the Company faces competition from domestic and foreign lending institutions and
numerous other providers of financial services. SunTrust competes using a client-centered model that focuses on high quality
service, while offering a broad range of products and services. The Company believes that this approach better positions it to
increase loyalty and expand relationships with current clients and attract new ones. Further, the Company maintains a strong
presence within select markets, thereby enhancing its competitive position.
While the Company believes it is well positioned within the highly competitive industry, the industry could become even
more competitive as a result of legislative, regulatory, economic, and technological changes, as well as continued
consolidation. The ability of non-banking financial institutions to provide services previously limited to commercial banks
has intensified competition. Because non-banking financial institutions are not subject to many of the same regulatory
restrictions as banks and bank holding companies, they can often operate with greater flexibility and lower cost structures.
Although non-banking financial institutions may not have the same access to deposit funds or government programs, those
non-banking financial institutions may elect, as some have done, to become financial holding companies and gain such access.
Securities firms and insurance companies that elect to become financial holding companies may acquire banks and other
financial institutions. This could alter the competitive environment in which the Company conducts business. Some of the
Company's competitors have greater financial resources or face fewer regulatory constraints. As a result of these various
sources of competition, the Company could lose business to competitors or be forced to price products and services on less
advantageous terms to retain or attract clients.
Employees
As of December 31, 2012, SunTrust had 26,778 full-time equivalent employees. None of the domestic employees within the
Company are subject to a collective bargaining agreement. Management considers its employee relations to be good.
Additional Information
See also the following additional information which is incorporated herein by reference: Business Segments (under the captions
“Business Segments” in Item 7, the MD&A, and “Business Segment Reporting” in Note 20 to the Consolidated Financial
Statements in Item 8, Financial Statements and Supplementary Data); Net Interest Income (under the captions “Net Interest
Income/Margin” in the MD&A and “Selected Financial Data” in Item 6); Securities (under the caption “Securities Available
for Sale” in the MD&A and Note 5 to the Consolidated Financial Statements); Loans and Leases (under the captions “Loans”,
“Allowance for Credit Losses”, and “Nonperforming Assets” in the MD&A and “Loans” and “Allowance for Credit Losses”
in Notes 6 and 7, respectively, to the Consolidated Financial Statements); Deposits (under the caption “Deposits” in the
MD&A); Short-Term Borrowings (under the captions “Liquidity Risk” and “Short-Term Borrowings” in the MD&A and
“Borrowings and Contractual Commitments” in Note 11 to the Consolidated Financial Statements); Trading Activities and
Trading Assets and Liabilities (under the caption “Trading Assets and Liabilities” in the MD&A and “Trading Assets and
Liabilities” and “Fair Value Election and Measurement” in Notes 4 and 18, respectively, to the Consolidated Financial
Statements); Market Risk Management (under the caption “Market Risk Management” in the MD&A); Liquidity Risk
Management (under the caption “Liquidity Risk Management” in the MD&A); Credit Risk Management (under the caption
"Credit Risk Management" in the MD&A); and Operational Risk Management (under the caption “Operational Risk
Management” in the MD&A).
SunTrust's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments
to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available free of charge on the
Company's web site at www.suntrust.com under the Investor Relations section as soon as reasonably practicable after the
Company electronically files such material with, or furnishes it to the SEC. The SEC maintains an Internet site that contains
reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The
SEC's web site address is www.sec.gov. In addition, SunTrust makes available on its website at www.suntrust.com under the
heading Corporate Governance its: (i) Code of Ethics; (ii) Corporate Governance Guidelines; and (iii) the charters of SunTrust
Board committees.