SunTrust Banks, Inc. (STI) reported first-quarter net income available to common shareholders of $340 million, or $0.63 per share up from $245 million or $0.46 per share in the first quarter of last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income for the quarter declined to $1.22 billion, from $1.31 billion last year. Noninterest income was $863 million lower than $876 million in the prior year quarter.
Netinterest income decreased $91 million compared to the first quarter of last year due to lower earning asset yields, which were impacted by a decrease in commercial loan-related swap income and the foregone dividend income related to the third quarter 2012 accelerated termination of the agreements regarding the shares formerly owned in The Coca-Cola Company. These decreases were partially offset by lower deposit rates and a reduction in long-term debt.
Total revenue, FTE excluding securities gains, decreased to $2.11 billion from $2.20 billion, due to declines in both net interest and noninterest income. Seventeen analysts had consensus revenue estimate of $2.25 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.