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SUNTRUST EARNS $103.4 MILLION IN 2ND QUARTER; $203.5 MILLION THROUGH SIX MONTHS OF 1992

 SUNTRUST EARNS $103.4 MILLION IN 2ND QUARTER;
 $203.5 MILLION THROUGH SIX MONTHS OF 1992
 ATLANTA, July 14 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) today reported that net income of the regional banking company in the 1992 second quarter was $103.4 million or $0.82 per share, compared with $92.6 million or $0.72 per share in the 1991 second quarter.
 This was an increase of 13.9 percent in earnings per share over the prior year.
 For the six months ended June 30, net income was $203.5 million or $1.60 per share, compared with $181.6 million or $1.42 per share in the first half of 1991, an increase of 12.7 percent in per share earnings.
 Through six months of 1992, the annualized return on average assets was 1.20 percent, compared with 1.12 percent for the same period a year earlier. The annualized return on average shareholders' equity was 15.86 percent in the first half of this year, compared with 15.53 percent in the same 1991 period.
 As of June 30, total assets of SunTrust were $34.5 billion, a 4.2 percent increase over a year earlier. In other year-to-year comparisons, loans increased 2.3 percent to $22.0 billion; deposits increased 3.7 percent to $27.6 billion, while total shareholders' equity increased 7.1 percent to $2.6 billion.
 At the end of the 1992 second quarter, the reserve for loan losses was $410.5 million or 1.86 percent of loans, compared with $379.9 million or 1.76 percent of loans at June 30, 1991. Nonperforming assets at June 30, were $610.4 million, consisting of $366.3 million of nonperforming loans and $244.1 million of other real estate owned. This compares with a total of $653.3 million at March 31, consisting of $402.7 million of nonperforming loans and $250.6 million of other real estate owned.
 Net domestic charge-offs in the 1992 second quarter were $36.5 million or 0.67 percent of average loans on an annualized basis. At June 30, the reserve was 112.1 percent of nonperforming loans.
 SUNTRUST BANKS INC.
 Financial Highlights
 Second quarter 6 mos. ended
 1992 1991 1992 1991
 For the period ($ Mils)
 Net income 103.4 92.6 203.5 181.6
 Dividends paid 31.6 29.3 63.4 58.6
 Per common share ($)
 Net income 0.82 0.72 1.60 1.42
 Dividends 0.25 0.23 0.50 0.46
 Book value X X 20.69 19.06
 Book value as adjusted (a) X X 28.35 24.21
 Ratios (pct.)
 Return on avg. assets 1.22 1.13 1.20 1.12
 Return on avg. equity 16.05 15.54 15.86 15.53
 Net interest margin (taxable-
 equiv.)(b) 5.14 4.77 5.07 4.82
 Income Statement ($ Mils)
 Interest income (taxable-
 equiv.)(b) 642.7 717.7 1,295.9 1,450.2
 Interest expense 246.9 364.5 517.7 747.3
 Net interest income (taxable-
 equiv.) 395.8 353.2 778.2 702.9
 Prov. for loan losses 55.0 57.2 106.8 107.3
 Noninterest income 162.7 155.0 328.2 296.2
 Trust income 56.8 52.8 112.5 99.5
 Service charges on deposit
 accounts 51.8 49.0 104.1 96.7
 Securities gains (losses) 0.4 0.4 0.1 1.0
 Noninterest expense 334.6 304.9 674.0 608.4
 Personnel expense 172.9 155.4 343.8 310.1
 Net occupancy expense 31.3 28.4 62.9 56.5
 Equipment expense 25.3 23.3 49.5 46.9
 FDIC premiums 15.7 12.4 31.3 24.8
 Other real estate expense 5.9 2.7 18.7 7.3
 Taxable-equiv. adjustments 19.2 19.4 35.8 39.7
 Income taxes 46.3 34.1 86.3 62.1
 Net income 103.4 92.6 203.5 181.6
 Contribution to net income ($ Mils)
 SunBanks, Inc. 55.3 47.7 108.6 89.9
 Trust Company of Georgia 44.9 40.8 85.0 83.7
 Third National Corporation 15.1 12.3 29.2 24.2
 Second quarter 6 mos. ended
 1992 1991 1992 1991
 Balance Sheet ($ Mils/Shrs in Mils)
 Average:
 Total assets 34,201 32,968 34,186 32,694
 Earning assets 30,943 29,682 30,866 29,432
 Loans 21,777 21,490 21,732 21,640
 Demand deposits 5,695 5,078 5,589 5,014
 Total deposits 27,575 26,485 27,601 26,267
 Shareholders' equity 2,590 2,387 2,579 2,358
 Common equivalent shares 126.4 127.8 127.0 127.5
 At 6/30:
 Total assets 34,483 33,108
 Earning assets 31,221 29,680
 Loans 22,030 21,540
 Demand deposits 5,938 5,272
 Total deposits 27,631 26,650
 Shareholders' equity 2,610 2,436
 Common shares outstanding 126.1 127.8
 Reserve for Loan Losses ($ Mils)
 Beginning balance (36.5) (48.5) (76.2) (88.9)
 Net international recoveries 0.1 0.1 0.2 1.3
 Reserve at purchased bank --- --- 6.4 ---
 Ending balance 410.5 379.9 410.5 379.9
 Domestic loan charge-off
 ratios (annualized) 0.67 0.91 0.70 0.83
 6/30/92 3/31/92 6/30/91
 Nonperforming assets ($ Mils):
 Nonperforming loans 366.3 402.7 436.1
 Other real estate owned 244.1 250.6 254.0
 Total nonperforming assets 610.4 653.3 690.1
 Ratios (percent):
 Reserve for loan losses/loans 1.86 1.80 1.76
 Reserve for loan losses/
 nonperforming loans 112.08 97.33 87.10
 Nonperforming loans/loans 1.66 1.85 2.02
 (a) Includes the pre-tax market appreciation of the company's investment in common stock of The Coca-Cola Company. ($965.2 million at June 30, 1992.)
 (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- 7/14/92
 /CONTACT: MEDIA: Willis Johnson, 404-588-8211; ANALYSTS: James C. Armstrong, 404-588-7425, both of SunTrust Banks/
 (STI) CO: SunTrust Banks, Inc. ST: Georgia IN: FIN SU: ERN


BR-EA -- AT002 -- 8941 07/14/92 08:42 EDT
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