The Cincinnati bank's total loans fell 2% and its adjusted fee income dropped 4%, but its top line was strong because of higher interest rates and the gain from a sale of more Vantiv shares.
Growth in net interest income was offset by a decrease in revenue from mortgage banking and capital markets, the Birmingham, Ala., company said Tuesday.
The Salt Lake City bank reported strong 3Q results despite unexpected expenses tied to hurricane damage in its Texas market, and it vowed to stay on track in meeting its cost-savings goals.
The company, which will officially report results later this week, took hits tied to its planned spinoff of BankMobile and losses tied to an overseas investment.
SunTrust’s yields have improved as it has increased its credit-card and student lending and made more online personal loans through its LightStream subsidiary.
The Green Bay, Wis., company's CEO predicted “mid-single-digit” annual loan growth after a third quarter that included a 10% increase in deposits and 4% rise in average loans.
