SunTrust (STI) to Acquire Online Lender FirstAgain
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SunTrust Banks, Inc. (NYSE: STI) and FirstAgain LLC today announced the signing of a definitive agreement under which SunTrust will acquire substantially all of the assets of FirstAgain and enhance SunTrust's capabilities in the direct online lending market.
Terms of the transaction were not disclosed. Pending customary regulatory approvals, the companies expect the transaction to close in the second quarter of 2012. FirstAgain will operate with its current management team as a unit of SunTrust's Consumer Banking line of business. SunTrust Robinson Humphrey, Inc. advised SunTrust on the transaction.
Terms of the transaction were not disclosed. Pending customary regulatory approvals, the companies expect the transaction to close in the second quarter of 2012. FirstAgain will operate with its current management team as a unit of SunTrust's Consumer Banking line of business. SunTrust Robinson Humphrey, Inc. advised SunTrust on the transaction.
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