On April 17, SunTrust
- Net income dipped slightly to $514 million for the quarter from $531.5 million a year ago.
- Because of the current flat yield curve environment, SunTrust has focused on restructuring its balance sheet, which helped net interest margin improve eight basis points over Q4 2006.
- The tough bank and credit environment has slowed growth not only for SunTrust, but also for peers M&T Bank
(NYSE:MTB) , Washington Mutual(NYSE:WM) , and Regions Financial(NYSE:RF) .
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Total Revenue |
$1,987,024.0 |
$1,997,144.0 |
(0.5%) |
|
Net Interest Income |
$1,164,559.0 |
$1,179,041.0 |
(1.2%) |
|
Net Profit |
$ 513,933.0 |
$ 531,527.0 |
(3.3%) |
|
EPS |
$ 1.44 |
$ 1.46 |
(1.4%) |
Get back to basics with the income statement.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Net Loans |
$115,878,620 |
$117,090,998 |
(1.0%) |
|
Total Earning Assets |
$163,299,000 |
$159,064,000 |
2.7% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Deposits |
$123,438,275 |
$121,775,742 |
1.4% |
|
Total Liabilities |
$168,416,303 |
$161,719,028 |
4.1% |
The balance sheet reflects the company's health.
Ratio Checkups
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Net Interest Margin |
3.02% |
3.12% |
(0.10)% |
|
Efficiency Ratio |
59.79% |
59.80% |
(0.01%) |
|
Nonperforming Loans/Total Loans |
0.57% |
0.25% |
0.32% |
|
Return on Average Assets |
1.16% |
1.21% |
(0.05%) |
|
Return on Average Equity |
12.10% |
12.64% |
(0.54%) |
Related Foolishness:
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- SunTrust + E2 = Efficiency?: Fool by Numbers
Washington Mutual is a Motley Fool Income Investor recommendation. Try any one of our investing services free for 30 days.
Fool contributor Emil Lee is an analyst and a disciple of value investing. He doesn't own shares in any of the companies mentioned above. Emil appreciates your comments, concerns, and complaints. The Motley Fool has a disclosure policy.
