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COAST BANK, SUNTRUST PLAN MERGER

 COAST BANK, SUNTRUST PLAN MERGER
 SARASOTA, Fla., Oct. 7 /PRNewswire/ -- Coast Bank, FSB, Sarasota,


and SunTrust Banks, Inc. (NYSE: STI), regional bank holding company based in Atlanta, have announced a definitive agreement providing for SunTrust to acquire Coast Bank.
 The purchase price is $70.3 million.
 Coast Bank was established in 1952 as a savings & loan association and later converted to a federal savings bank charter. Total assets as of June 30 were $1.1 billion. In addition to the main office in Sarasota, 27 banking locations serve key markets in Charlotte, Flagler, Manatee, Sarasota and Volusia counties.
 Under the plan, Coast Bank branches will be merged into the SunBanks located in the same general geographic areas. It is anticipated that the transaction, which is subject to certain conditions including approval by regulatory authorities, will require several months to complete.
 -0- 10/7/92
 /CONTACT: Media: Willis Johnson, 404-588-8211, or Investors/Analysts: Jim Armstrong, 404-588-7425, both of SunTrust Banks/
 (STI) CO: Coast Bank, FSB; SunTrust Banks, Inc. ST: Florida, Georgia IN: FIN SU: TNM


EA-BN -- AT009 -- 7594 10/07/92 16:51 EDT
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Publication:PR Newswire
Date:Oct 7, 1992
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