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SunTrust Banks Q4'18 profit slides YOY

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SunTrust Banks Q4'18 profit slides YOY

Atlanta-based SunTrust Banks Inc. on Jan. 18 posted net income applicable to common shares of $632.0 million, or $1.40 per share, for the 2018 fourth quarter, compared to net income of $710.0 million, or $1.48 per share, in the fourth quarter of 2017.

The recent quarter's figure included a 10-cents-per-share discrete charge associated with the settlement of a legacy pension plan.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the fourth quarter was $1.36.

Average loans held for investment increased 4% year over year to $149.71 billion. Average consumer and commercial deposits stayed relatively flat year over year to $161.57 billion.

For full year 2018, net income applicable to common shares was $2.67 billion, or $5.74 per share, compared to net income of $2.18 billion, or $4.47 per share, in 2017.