Earnings beat Wall Street estimates, while revenue was in line with expectations. The bank posted earnings of $429 million, up from $405 million a year earlier. On a per-share basis, earnings rose to 78 cents from 73 cents. Revenue at the Atlanta-based lender fell 2% to $1.99 billion, because of a decline in net interest income.
In its last earnings review, SunTrust posted a fourth-quarter net income of $378 million, or $0.72 per average common diluted share, which included a $145 million mortgage-related legal provision.