-
Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
July 30
SunTrust Banks Inc. surprised analysts Thursday by reporting a $56 million, 11-cents-a-share loss, far better than its $229 million loss a quarter earlier.
The Atlanta company's stock rose 9.6%, to 24.58.
"Our operating trends gained momentum," said Jim Wells, SunTrust's chief executive. "We have been focused on positioning the business for growth as we come out of this cycle and we're starting to see the benefits of those efforts."
Revenue rose 14%, to $2.2 billion, from the previous quarter and just slightly below where it was a year earlier. SunTrust posted a stable net interest margin of 3.3% as lower cost funding offset lower yields. Noninterest income of $952 million was up by more than a third quarter over quarter but down 11% from a year earlier.
Loan-loss provisioning fell to $702 million, its lowest level in a year. Net chargeoffs fell from $821 million to $722 million, though they increased slightly within residential construction.
