SunTrust 2013 Annual Report Download - page 23

7
Competition
The Company'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. The Company 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.
However, non-banking financial institutions may not have the same access to deposit funds or government programs and, as
a result, 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
At December 31, 2013, the Company had 26,281 full-time equivalent employees. See additional information in the "Executive
Overview" section of this Form 10-K.
Additional Information
See also the following additional information which is incorporated herein by reference: Business Segments (under the captions
“Business Segments” and "Business Segment Results" in Item 7, in the MD&A of this Form 10-K, 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 caption “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 and Derivatives” in the MD&A
and “Trading Assets and Liabilities and Derivatives” 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: (i) its Code of Ethics; (ii) its Corporate Governance Guidelines; and (iii) the charters of
SunTrust Board committees.
The Company's Annual Report on Form 10-K is being distributed to shareholders in lieu of a separate annual report containing
financial statements of the Company and its consolidated subsidiaries.