SunTrust Bank Extends Official Bank Status with Grand American and SunTrust Racing Team Agreement Through 2006 Daytona Beach, Fla. (February 4, 2005) - In a press conference at Daytona International Speedway today, SunTrust Bank announced...
SunTrust Bank Extends Official Bank Status with Grand American and SunTrust Racing Team Agreement Through 2006
Daytona Beach, Fla. (February 4, 2005) - In a press conference at Daytona International Speedway today, SunTrust Bank announced that it has extended its sponsorship agreement with the Grand American Road Racing Association as the "Official Bank of Grand American Road Racing." The original two-year agreement is now expanded through the 2006 race season.
Additionally, SunTrust announced that it has also extended its agreement with Wayne Taylor for sponsorship of the No. 10 SunTrust Racing Pontiac Riley Mk.11 team for another year, through the 2006 Grand American Rolex Sports Car Series season.
"SunTrust is very pleased following the first year of its relationship with both Grand American and Wayne Taylor," said SunTrust Bank's Chief Marketing Officer, Craig Kelly. "We wanted to show our commitment to them by stepping up and extending the contracts early, well before the end of the second year. The Grand American racing platform has been hugely successful for us, hence the early renewal."
"Wayne, his co-drivers and the entire Riley Technologies team have proven themselves as winners both on and off the track. We are looking forward to more exciting racing with Wayne and his team. Our customers enjoy the SunTrust Racing program and we get a highly competitive race team, with a leader who understands our goals," added Craig Kelly.
"Expanding our 'Official Bank' status with Grand American through 2006 reinforces our commitment to this growing sport. We, too, are continuing to grow as a bank. Our SunTrust Motorsports Banking Group launched last year and led by Brian Williams, David Pijot and John Hondros, is also another way we are reaching out to the motorsports community and trying to serve its financial needs," said Kelly. "Our commitment extends beyond pure sponsorship, we are placing resources at the events to support the sport and its participants."
"We are pleased and proud to have SunTrust Bank extend its sponsorship with Grand American for an extra year," said Roger Edmondson, Grand American Road Racing Association President. "Their insight into our business platform and commitment to our growth as a sanctioning body is a great compliment. We appreciate their support and look for many more years of having SunTrust as an official partner with Grand American."
"It is always great to have a contract extended early so that you can plan and make better long-term decisions for your team and sponsor," said SunTrust Racing car owner and driver Wayne Taylor. "The fact that SunTrust has stepped up so early to renew our program confirms that our business model is working and it's not just the success we show on the racetrack that matters, but the additional benefits we bring them as a business partner."
In addition to the "Official Bank of Grand American Road Racing" and the sponsorship of the SunTrust Racing No. 10 Pontiac Riley Mk.11, SunTrust Bank also supports a contingency award program called the "Improve Your Position Award" and established the SunTrust Motorsports Private Banking group to provide specialized banking services to the motorsports industry.
SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of December 31, 2004, SunTrust had total assets of $159.1 billion and total deposits of $103.4 billion. The company operates an extensive distribution network primarily in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia, and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is suntrust.com.