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By BLOOMBERG NEWS | April 11, 2003
ATLANTA - SunTrust Banks Inc., the first of the 10 biggest U.S. banks to report first-quarter results, said yesterday that its net income climbed 8 percent as it cut bad loans and curbed expenses. The company's shares recorded their biggest advance in almost three years as net income rose to $327.8 million, or $1.17 a share, from $304.9 million, or $1.06 a share, a year earlier, the company said. Revenue slid about 1 percent. SunTrust's earnings gain helped send bank stocks higher because they signaled loan defaults are ebbing, investors said.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 17, 2014
Banking industry veteran and native Baltimorean Scott Wilfong got involved with the Living Classrooms Foundation to help improve lives in some of East Baltimore's neediest neighborhoods, including Perkins Homes, the Fayette Street corridor and McElderry Park. Wilfong, chairman, president and CEO of SunTrust Bank Greater Washington/Maryland, began eight years ago working with the foundation's Children's Target Investment Zone initiative, in which the foundation, area public schools and other groups offer East Baltimore residents job training as well as training in work readiness, financial literacy, computer literacy and other life skills.
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BUSINESS
October 10, 2004
A weekly briefing on the economic calendar Monday Earnings reports: MDC Holdings, Tractor Supply Tuesday Earnings reports: Commerce Banc, Gannett, Infosys, Johnson & Johnson, M&T Bank, Merrill Lynch, State Street, SunTrust Banks, Intel, Sonic, Yahoo Wednesday Earnings reports: Accenture, General Dynamics, Harley-Davidson, Host Marriott, New York Times, Apple Computer Thursday Trade balance report for August Earnings reports: Abbott Labs, Bank...
FEATURES
By L'Oreal Thompson, The Baltimore Sun | April 5, 2013
Wedding date: Feb. 9, 2013 Her story: Dana Perzynski, 28, grew up in Columbia. She is an associate planner with Ayers Saint Gross, an architectural and planning firm in Baltimore. Her mother, Karen Kurzawa, is a commercial interior representative; her father, Paul Perzynski, died in 1996. His story: Graham Johnson, 30, grew up in Davidsonville. He is a vice president and commercial relationship manager at SunTrust Banks. His father, Todd Johnson, is managing director of investor relations for National Real Estate Advisors; his mother, Gail Johnson, died in 2008.
NEWS
Eileen Ambrose | September 29, 2011
Reuters reports that Bank of America next year will start charging $5 a month for customers who use a debit card. And other banks, Reuters says, are expected to follow: "Wells Fargo & Co, JPMorgan Chase & Co and SunTrust Banks Inc are already testing or plan to fully roll out monthly debit card fees. " Recent regulations -- such as restrictions on overdraft programs -- have cut into banks' fee income. And thanks to the Wall Street reform law, starting next month banks will collect less revenue from merchants to process debit card transactions.
BUSINESS
By COX NEWS SERVICE | November 11, 2004
ATLANTA - SunTrust Banks Inc. fired three executives, including its chief credit officer, and reassigned a fourth yesterday after an internal probe revealed multiple accounting errors in its reserve for bad auto loans. The investigation, which began nearly a month ago and coincides with a continuing U.S. Securities and Exchange Commission inquiry, delayed the release of the financial institution's third-quarter earnings. Those results will be released tomorrow. SunTrust, which has more than $128 billion in assets, set aside more money during the first and second quarters than it should have for actual and expected losses in its auto loans portfolio.
BUSINESS
By BLOOMBERG NEWS | July 17, 2001
ATLANTA - SunTrust Banks Inc., vying against rival suitor First Union Corp., said yesterday that its $14.7 billion stock bid for Wachovia Corp. is its final offer. The company said it won't revise the financial terms of its unsolicited May 14 offer of 1.081 SunTrust shares for each Wachovia share, which was worth $14.7 billion at the close of trading Friday. "Let me be clear: Best and final means just that. That means no change in the exchange ratio, no new cash, no pass through of Coke shares, no sale of Coke stock to pay more cash.
BUSINESS
By BLOOMBERG NEWS | October 10, 2002
ATLANTA - SunTrust Banks Inc. said yesterday that its profit rose 2.7 percent, missing analysts' forecasts by a penny a share, as the first of the 10 largest U.S. banks to report third-quarter earnings set aside more for bad loans. Net income climbed to $343 million, or $1.20 a share, from $334.1 million, or $1.15, in the corresponding quarter last year. Revenue rose 1.7 percent to $1.35 billion, about a third the growth rate of the second quarter. Analysts expected SunTrust to earn $1.21 a share.
BUSINESS
By BLOOMBERG NEWS | July 7, 2001
ATLANTA - SunTrust Banks Inc., which is vying with First Union Corp. to take over Southeast banking rival Wachovia Corp., reported yesterday that second-quarter profit rose 9 percent as it earned more from mortgage and deposit fees. Net income rose to $347.1 million, or $1.19 a share, from $317.5 million, or $1.05, a year earlier. That exceeded the average analyst estimate of $1.16, according to a survey by Thomson Financial/First Call. Atlanta-based SunTrust reported its earnings earlier than usual to persuade investors to support its $14.3 billion unsolicited stock bid to buy Wachovia, based in Winston-Salem, N.C. Wachovia shareholders are to vote Aug. 3 on a board-approved agreement to sell the bank to Charlotte-based First Union for $14 billion in stock.
FEATURES
By L'Oreal Thompson, The Baltimore Sun | April 5, 2013
Wedding date: Feb. 9, 2013 Her story: Dana Perzynski, 28, grew up in Columbia. She is an associate planner with Ayers Saint Gross, an architectural and planning firm in Baltimore. Her mother, Karen Kurzawa, is a commercial interior representative; her father, Paul Perzynski, died in 1996. His story: Graham Johnson, 30, grew up in Davidsonville. He is a vice president and commercial relationship manager at SunTrust Banks. His father, Todd Johnson, is managing director of investor relations for National Real Estate Advisors; his mother, Gail Johnson, died in 2008.
NEWS
Eileen Ambrose | September 29, 2011
Reuters reports that Bank of America next year will start charging $5 a month for customers who use a debit card. And other banks, Reuters says, are expected to follow: "Wells Fargo & Co, JPMorgan Chase & Co and SunTrust Banks Inc are already testing or plan to fully roll out monthly debit card fees. " Recent regulations -- such as restrictions on overdraft programs -- have cut into banks' fee income. And thanks to the Wall Street reform law, starting next month banks will collect less revenue from merchants to process debit card transactions.
BUSINESS
By COX NEWS SERVICE | November 11, 2004
ATLANTA - SunTrust Banks Inc. fired three executives, including its chief credit officer, and reassigned a fourth yesterday after an internal probe revealed multiple accounting errors in its reserve for bad auto loans. The investigation, which began nearly a month ago and coincides with a continuing U.S. Securities and Exchange Commission inquiry, delayed the release of the financial institution's third-quarter earnings. Those results will be released tomorrow. SunTrust, which has more than $128 billion in assets, set aside more money during the first and second quarters than it should have for actual and expected losses in its auto loans portfolio.
BUSINESS
By BLOOMBERG NEWS | October 12, 2004
ATLANTA - SunTrust Banks Inc. said yesterday that it will restate results upward for the first and second quarters of this year because the company mistakenly inflated its reserve for loan losses. SunTrust, the seventh-largest U.S. bank, said it placed Sandra Jansky, its chief credit officer, and Controller Jorge Arrieta on paid leave pending an accounting review. Net income will rise by $17.4 million, or 7 cents a share, for the first quarter and by $4.8 million, or 1 cent, for the second.
BUSINESS
October 10, 2004
A weekly briefing on the economic calendar Monday Earnings reports: MDC Holdings, Tractor Supply Tuesday Earnings reports: Commerce Banc, Gannett, Infosys, Johnson & Johnson, M&T Bank, Merrill Lynch, State Street, SunTrust Banks, Intel, Sonic, Yahoo Wednesday Earnings reports: Accenture, General Dynamics, Harley-Davidson, Host Marriott, New York Times, Apple Computer Thursday Trade balance report for August Earnings reports: Abbott Labs, Bank...
BUSINESS
By BLOOMBERG NEWS | April 11, 2003
ATLANTA - SunTrust Banks Inc., the first of the 10 biggest U.S. banks to report first-quarter results, said yesterday that its net income climbed 8 percent as it cut bad loans and curbed expenses. The company's shares recorded their biggest advance in almost three years as net income rose to $327.8 million, or $1.17 a share, from $304.9 million, or $1.06 a share, a year earlier, the company said. Revenue slid about 1 percent. SunTrust's earnings gain helped send bank stocks higher because they signaled loan defaults are ebbing, investors said.
BUSINESS
By BLOOMBERG NEWS | October 10, 2002
ATLANTA - SunTrust Banks Inc. said yesterday that its profit rose 2.7 percent, missing analysts' forecasts by a penny a share, as the first of the 10 largest U.S. banks to report third-quarter earnings set aside more for bad loans. Net income climbed to $343 million, or $1.20 a share, from $334.1 million, or $1.15, in the corresponding quarter last year. Revenue rose 1.7 percent to $1.35 billion, about a third the growth rate of the second quarter. Analysts expected SunTrust to earn $1.21 a share.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 3, 1991
As the saying goes: Owe a bank $5,000 and you have a problem. Owe it $5 million and the bank has a problem.The U.S. banking industry in 1991 continues to have more financial problems than a barrel of Donald Trumps. Problem credits will likely peak at the end of this year, but it will take a long time to work them out. Woes tied to leveraged buyouts could be solved within two years, but real estate difficulties may take four to six years. In the meantime, modest single-digit loan growth is expected.
BUSINESS
By BLOOMBERG NEWS | May 24, 2001
WINSTON-SALEM, N.C. - SunTrust Banks Inc. sued Wachovia Corp. and First Union Corp. yesterday, trying to punch holes in their merger agreement as it presses forward with its own $13.9 billion hostile bid for Wachovia. Wachovia directors urged SunTrust to abandon its takeover proposal after voting 14-1 Tuesday to stick to plans to sell the bank to Charlotte, N.C.-based First Union for $13.2 billion. "SunTrust just sued everybody," said Marni Pont O'Doherty, an analyst at Keefe, Bruyette & Woods.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 2, 2002
Reaching for a leader with business and political ties, SunTrust Bank has tapped Greater Baltimore Committee President Donald P. Hutchinson to head its Maryland division, the fifth-largest bank in the state with $5.3 billion in deposits. The former Baltimore County executive and veteran of state politics will take over as president and chief executive officer Nov. 1. He will succeed J. Scott Wilfong, who left to take the top job at SunTrust's Atlanta operation. "One of my big challenges ... was my commitment that we would have somebody who would be a high-profile individual who would be very well known to the community in leading the growth of the bank," Wilfong said of the search for his replacement.
NEWS
BY A SUN STAFF WRITER | May 15, 2002
Robbery suspect is seen in an image from a security camera.A youthful-looking white male wearing a cap robbed SunTrust Bank on Freetown Road in Columbia about 11 a.m. yesterday, Howard County police said. The man, described as 5 feet 10 inches tall with a medium build, wore glasses and appeared to be between 18 and 24 years old, police said. He implied he had a gun and quietly demanded money, police said. The teller complied, and the robber fled with an undetermined amount of cash in an unknown direction, police said.
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