SunTrust to open new branch in Charlotte

CHARLOTTE – SunTrust Bank is opening a new branch in Charlotte at 12916 Walker Branch Road in January, adding to its more than 150 locations in North Carolina. The announcement comes just as the bank reported that it will eliminate 800 jobs nationwide, including an undisclosed number of positions in Charlotte.

Weakened demand for refinancing is causing the bank to reorganize its loan department, according to SunTrust Bank spokesman Mike McCoy.  Charlotte-based Bank of America and San Francisco-based Wells Fargo have made similar adjustments to their loan units.

SunTrust has a loan sales center in the city. McCoy said employees in the mortgage department were notified of the layoffs last week and that some of the positions will be lost through attrition. The bank will seek to place displaced workers in other positions and will offer severance and outplacement assistance to other affected employees.

In addition to the new branch opening, the Atlanta-based bank will be installing new automated teller machines at its North Carolina locations to provide added convenience. The enhanced ATMs will feature touch screen technology, envelop-free deposits with a copy of the deposited check on the receipt as well same-day credit for deposits made before 9 p.m.

“As customer banking preferences change, we want to ensure a wide range of options – from strategically located branches, to online and mobile channels, and efficient and user-friendly ATMs,” said Brad Dinsmore, head of consumer banking and private wealth management at SunTrust.

“We have made adjustments during the past year to optimize our banking channels and best serve as many of our clients as possible – when, where and how they want to do their banking,” Dinsmore added.

SunTrust has more than 1,500 full-service branch locations in the southeastern and mid-Atlantic United States.  As of June 30, 2013, SunTrust had total assets of $171.5 billion and total deposits of $127.6 billion.