trending Market Intelligence /marketintelligence/en/news-insights/trending/cyunl7-jskgdessgm6t6ew2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

SunTrust reports YOY increase in Q2 net income, NIM

Municipal-Run Fiber Tops 280000 Subscribers In 2018

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next

Corporate Renewables Market Looks To Continue Growth After Record 2018


SunTrust reports YOY increase in Q2 net income, NIM

on July 22reported second-quarter net income available to common shareholders of $475million, or 94 cents per share, compared to $467 million, or , in the year-agoperiod.

TheS&P Capital IQ consensus estimate for normalized EPS was 88 cents for thelatest quarter.

Thecompany's second-quarter results included a net benefit of 5 cents per sharefrom the following discrete items: $44 million, pretax, in netasset-related gains, primarily related to a gain from the sale-leaseback of anoffice building; $21million, pretax, in discrete charges related to ongoing efficiency initiatives;and a $9 million discrete tax benefit.

On afully taxable equivalent basis, the company's net interest margin was 2.99%,compared to 3.04% for the linked quarter and 2.86% for the second quarter of2015.

Total nonperforming assets were $1.00 billion at June 30,compared to $1.04 billion at March 31 and $657 million at June 30, 2015. Thesequential reduction in nonperforming assets was primarily due to theresolution of certain energy-related loans, while the increase compared to June30, 2015, was mainly due to downgrades of energy-related loans, according to anews release.

Netcharge-offs were $137 million during the second quarter of 2016, compared to$85 million in the first quarter and $87 million during the second quarter of2015. The latest quarter included $70 million in energy-related net charge-offs.

The2016 second-quarter provision for credit losses was $146 million, compared to$101 million in the linked quarter and $26 million in the second quarter of2015. SunTrust attributed the sequential and year-over-year increase to higherenergy-related charge-offs, moderating asset quality improvements and loangrowth.

During the second quarter of 2016, SunTrust repurchased $175 million of its outstandingcommon stock, which completed its 2015 capital plan, according to the newsrelease. The company's 2016capital plan includes the purchase of up to $960 million of itsoutstanding common stock between the third quarter of 2016 and the secondquarter of 2017. It also includes an 8% increase in the quarterly common stockdividend from 24 cents per share to 26 cents per share, beginning in the thirdquarter, subject to approval by the company's board.