Davis Quoted on SunTrust Loan

Foley Partner Gardner Davis was quoted in an article that appeared in the American Banker on January 10, 2011 titled “Bank-to-Bank Salvage Bet.” Davis discusses SunTrust Bank’s efforts to salvage a loan made to CommunityOne Bank after SunTrust agreed to convert half of CommunityOne’s subordinated debt into preferred stock. He states that from an investor’s perspective, the most important objective is for CommunityOne Bank to survive. Davis adds that investors would prefer a junior stake in a surviving bank as opposed to a senior stake in a defunct bank.