SouthTrust Corporation was a banking company headquartered in Birmingham, Alabama.
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17 Facts About SouthTrust
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In 2004, SouthTrust reached an agreement to merge with Wachovia in a stock-for-stock deal.
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3.
SouthTrust was listed on the NASDAQ exchange under the ticker symbol SOTR.
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4.
SouthTrust was headquartered in the SouthTrust Tower, now known as the Shipt Tower.
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5.
SouthTrust had branches in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.
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6.
SouthTrust Corporation began as Birmingham Trust and Savings Company in 1887.
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In 1986, SouthTrust decided to build a new building for its headquarters in downtown Birmingham.
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In 1987 SouthTrust purchased the Central Bank of South Daytona Beach located in Daytona Beach, Florida.
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SouthTrust quickly focused on Florida for its new acquisitions and acquired many banks, mostly located in northern and Central Florida.
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10.
Towards the end of 1987 SouthTrust made its first entry into the Georgia market when it moved the SouthTrust National Bank of Russell County headquarters across the state line to Columbus, Georgia.
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In 1994 SouthTrust made its first entry into Mississippi when it purchased First Jefferson Corporation.
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12.
In 1995, SouthTrust acquired Bankers First Corporation, which was the parent of Bankers First Federal Savings and Loan.
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13.
In 2001, SouthTrust made its first entry into the Virginia banking market when it purchased CENIT Bank.
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14.
Later that same year, SouthTrust expanded in Virginia when it bought the Bank of Tidewater.
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15.
The biggest loss to Birmingham came from SouthTrust moving its commercial banking division to Atlanta a year before the merger was announced, and that Atlanta, not Birmingham, would end up with Wachovia's Southern Banking Group headquarters.
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16.
Many former SouthTrust Customers have defected to banks like Regions and BBVA Compass.
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17.
The new SouthTrust Bank is not affiliated with the original SouthTrust Bank of Alabama, acquiring only the trademark rights to the name as an effort to distinguish their brand amongst other national banks.
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