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HOMETRUST BANK OF GEORGIA ANNOUNCES SHAREHOLDER APPROVAL FOR ITS ACQUISITION BY TRUST COMPANY OF GEORGIA

 GAINESVILLE, Ga., Nov. 24 ~PRNewswire~ -- In a special meeting held Nov. 24, shareholders of HomeTrust Bank of Georgia have approved the acquisition of HomeTrust by the Trust Company of Georgia.
 Trust Company is a wholly owned subsidiary of SunTrust Banks, Inc. (NYSE: STI), the regional banking company operating in Florida, Georgia and Tennessee.
 Under the plan, each share of common stock of HomeTrust would be exchanged for 0.38 shares of SunTrust common stock. A total of 736,233 shares of SunTrust stock would be issued in the exchange. The transaction, which is subject to final approval by regulatory authorities, is expected to be completed by year-end 1992.
 HomeTrust, with assets of $312 million, was established in 1957 as Home Federal Savings and Loan. The institution was converted to a state-chartered bank in 1991 and became HomeTrust Bank of Georgia. In addition to four banking locations in Gainesville and Hall County, other branches are located in Blue Ridge (Fannin County), Clarkesville (Habersham County), Cleveland (White County), Cumming (Forsyth County), and Duluth (Gwinnett County), Ga.
 President James E. Mathis Jr. commented: "We are proud to have the opportunity to become affiliated with what is considered to be the leading bank in our state and nation. Our association with the Trust Company of Georgia will allow us to offer new services such as trust, investment banking, and international banking to our community. The financial strength of our combined companies will open a new era for banking in north Georgia."
 -0- 11~24~92
 ~CONTACT: James E. Mathis Jr., president~CEO of HomeTrust Bank, 404-535-9637~
 (STI)


CO: HomeTrust Bank of Georgia; Trust Company of Georgia; SunTrust
 Banks, Inc. ST: Georgia IN: FIN SU: TNM


BR-BN -- AT005 -- 0976 11~24~92 10:41 EST
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Publication:PR Newswire
Date:Nov 24, 1992
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