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SUNTRUST EARNS $100.1 MILLION IN 1992 FIRST QUARTER

      SUNTRUST EARNS $100.1 MILLION IN 1992 FIRST QUARTER
    ATLANTA, April 14 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) today reported that net income of the regional banking company for the first quarter of 1992 was $100.1 million or $0.78 per share, compared with $89.0 million or $0.70 per share in the 1991 first quarter.
    This represented an increase of 11.4 percent in earnings per share over 1991.
    The annualized return on average assets in the 1992 first quarter was 1.18 percent compared with 1.11 percent a year earlier.  The annualized return on average common shareholders' equity was 15.68 percent in the first three months this year, compared with 15.51 percent in the same 1991 period.
    As of March 31, total assets of SunTrust were $35.0 billion, a 6.0 percent increase from a year earlier.  In other year-to-year comparisons, loans decreased 0.4 percent to $21.8 billion; deposits increased 5.9 percent to $28.0 billion, while total shareholders' equity increased 8.7 percent to $2.6 billion.
    At the end of the 1992 first quarter, the reserve for loan losses was $391.9 million or 1.80 percent of loans, compared with $371.1 million or 1.69 percent of loans at March 31, 1991.  Nonperforming assets, consisting of $402.7 million of nonperforming loans and $250.6 million of other real estate owned, were $653.3 million at March 31. This compares with $673.3 million at Dec. 31, 1991, consisting of $437.1 million of nonperforming loans and $236.2 million of other real estate owned.  Net domestic charge-offs in the 1992 first quarter were $39.7 million or 0.74 percent of average loans.  At March 31, the reserve was 97.3 percent of nonperforming loans.
                         SUNTRUST BANKS, INC.
                         Financial Highlights
                                                First quarter
                                               1992      1991
       For the period ($ Mils)
    Net income                                100.1      89.0
    Dividends                                  31.8      29.3
       Per common share ($)
    Net income                                  .78       .70
    Dividends                                   .25       .23
    Book value                                20.26     18.57
    Book value as adjusted (a)                28.03     23.70
       Ratios (pct.)
    Return on avg. assets                      1.18      1.11
    Return on avg. equity                     15.68     15.51
    Net interest margin (taxable-equiv.)(b)    5.00      4.86
       Income Statement ($ Mils)
    Interest income (taxable-equiv.)(b)       653.2     732.5
    Interest expense                          270.8     382.8
    Net interest income (taxable-equiv.)      382.4     349.7
    Prov. for loan losses                      51.8      50.1
    Noninterest income                        165.5     141.2
    Trust income                               55.7      46.7
    Service charges on deposit accounts        52.3      47.7
    Securities gains (losses)                   (.3)       .6
    Noninterest expense                       339.4     303.5
    Personnel expense                         170.9     154.7
    Net occupancy expense                      31.6      28.1
    Equipment expense                          24.2      23.6
    FDIC premiums                              15.6      12.4
    Other real estate expense                  12.8       4.6
    Taxable-equiv. adjustments                 16.6      20.3
    Income taxes                               40.0      28.0
    Net income                                100.1      89.0
       Contribution to net income ($ Mils)
    SunBanks, Inc.                             53.3      42.2
    Trust Company of Georgia                   40.1      42.9
    Third National Corporation                 14.1      11.9
                                    First quarter
                                   1992      1991
       Balance Sheet ($ Mils/Shrs in Mils)
       Average:
    Total assets                 34,170    32,417
    Earning assets               30,788    29,179
    Loans                        21,688    21,792
    Demand deposits               5,484     4,950
    Total deposits               27,628    26,046
    Shareholders' equity          2,569     2,328
    Common equivalent shares      127.6     127.3
       At 3/31:
    Total assets                 34,954    32,975
    Earning assets               31,458    29,728
    Loans                        21,815    21,908
    Demand deposits               5,884     5,062
    Total deposits               28,038    26,466
    Shareholders' equity          2,575     2,368
    Common shares outstanding     127.1     127.5
       Reserve for Loan Losses ($ Mils)
    Beginning balance             373.3     360.2
    Provision for loan losses      51.8      50.1
    Net domestic charge-offs      (39.7)    (40.4)
    Net international recoveries    0.1       1.2
    Reserve at purchased bank       6.4       ---
    Ending balance                391.9     371.1
    Domestic loan charge-off
     ratios (pct. annualized)       .74       .75
                                     3/31/92   12/31/91    3/31/91
       Nonperforming assets ($ Mils)
    Nonperforming loans               402.7      437.1      420.9
    Other real estate owned           250.6      236.2      248.1
    Total nonperforming assets        653.3      673.3      669.0
       Ratios (percent)
    Reserve for loan losses/loans      1.80       1.73       1.69
    Reserve for loan losses/
     nonperforming loans               97.3       85.4       88.2
    Nonperforming loans/loans          1.85       2.03       1.92
    (a) Includes pre-tax market appreciation of the company's investment in common stock of The Coca-Cola Company ($986.3 million at March 31).
    (b) Net interest income and net interest margin include the effects of taxable-equivalent adjustments using a federal tax rate of 34 percent and state income taxes where applicable to increase tax- exempt interest income to a taxable-equivalent basis.
    -0-               4/14/92
    /CONTACT:  INVESTORS/ANALYSTS:  Jim Armstrong, 404-588-7425, or MEDIA:  Willis J001 -- 8093 04/14/92 09:14 EDT
   a8094 ..d7cr f   bc-VeriFone-Mobile
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