- On an apples-to-apples basis, EPS for all 2013 of $2.74 was 25% higher than 2012. Q4 EPS of $0.77 compares to $0.66 a year ago.
- Net interest income of $1.247B up 1% from Q3 with NIM gaining 1 basis point to 3.2%.
- Noninterest income of $814M fell 20% from a year ago thanks to the evaporation of mortgage business - $31M in Q4 vs. $241M a year ago. The flip side of higher rates for mortgages - servicing income of $38M grew from $11M in Q3 as higher rates slowed loan prepayments (those who hit the sell button on specialty servicers when rates tick up, take note).
- Expense management pays off with noninterest expense of $1.38B off 8.8% from a year ago.
- Tier 1 common equity ratio of 9.8% compares to 10.04% a year ago.
- Nonperforming loans of $971M fell 37% Y/Y. Net charge-offs of $128M in Q4 compare to $398M a year ago.
- CC at 8 ET
- Press release, Q4 results
- STI unch premarket
Expense focus pays off at SunTrust
Jan 17 2014, 07:19 ET