SunTrust Reports Q4 EPS $.23 vs. $.07; Revenues

SunTrust Banks, Inc. STI announced earlier today that solid revenues and further improvement in credit quality resulted in net income available to common shareholders of $114 million, or $0.23 per average common share, for the fourth quarter of 2010. This result compares favorably to a net loss of $248 million, or $0.64 per average common share, for the fourth quarter of 2009 and to earnings of $84 million, or $0.17 per common share, for the third quarter of 2010. For the year, SunTrust earned $189 million in net income before preferred dividends and reported a net loss to common shareholders of $0.18 per share, a significant improvement from the net loss per share of $3.98 reported for 2009.