SunTrust Q3 earnings drop due to mortgage settlements

SunTrust Banks Inc. (NYSE:STI)

The Atlanta-based banking company today announced net income available to common shareholders of $179 million, or 33 cents per diluted share, for the third quarter, a major decline from income of $1.1 billion, or $1.98 per share, during the same period in 2012.

The quarter’s results were negatively affected by .33 a share due to mortgage settlements with third parties that the company detailed in an October 10 press release.

Revenue for the Q3 2013 totaled $1.9 billion,…Continue Reading

Be Sociable, Share!
Instant Video Academy

Comments are closed.