This is the worst board ever. I don�t know how anyone could recommend this stock in time like this. The yield curve is flatting, and typical large regional banks do well at the beginning of bull markets not the middle or end. STI is still very depended on making money off the spread as compared to fee-based services. That spread is shrinking as the yield curve flattens. However that dividend is safe, but I don�t know why it trades at such a low yield. Compared to other money centers.
Your whinning is getting very tiresome; you have whinned about unsubstantiated bullcrap for at least the two years I've read this forum, and probably since you left STI and joined another organization. Let's take a look at an organization that may be of interest to you, Gold Bank, or is that called Gold Banc. I won't be any more specific than this as to why I'm pointing out this Company to you, but I'm sure the readers of this can read between the lines. Let's take a look at what's going on there, based on the 10K filed for 2004; I'll refer you to page 1 of the 10K:
1. Gold Banc continues to deal with the aftermath of the discovery in 2002 that their former CEO had misappropriated funds from the subsidiary bank and received the good ole' memo of understanding from the Fed in KC and the Kansas office of the State Bank Commissioner.
2. Got slapped with a cease and desist order from the SEC.
3. Nine of the directors were sued in a class action suit for alleged breaches of fiduciary duty and conflicts of interest related to the purchase of 530,000 shares from the CEO.
4. The bank was notified that a lawsuit was pending alleging violations of the false Claims Act relating to payments received under the FSA guaranteed loan program, which resulted in a $16 mln payment to the Federal Govt.
5. Later in 2004 the bank got sued again in a second lawsuit on a class action basis.
Look who's calling the kettle black. You constantly nail senior management of SunTrust for being inept, and yet this bank's reg filings read like a court blotter.
Let's next take a look at this bank's less than stellar earnings performance:
Net Income (Loss)? (What's this needed for - oh, I see):
2000 $(5.1 million) - how in the hell do you lose money - oh, it's the misapplication of bank funds - that's a nice way to put it.
2001 $23.3 mln
2002 $26.2 mln
2003 $29.4 mln
2004 $19.1 mln - whoops - its going backwards again.
Boy - that's stellar performance.
Let's take a look at EPS, or lack thereof:
2000 $(0.14) - oops - there's that "misapplication" again.
2003 $0.77 - oh oh - going backwards
2004 $0.49 - and no "misapplication" to blame?
That's pretty sorry performance - not even the "inept" management at STI, in your words, can top this.
Before you go throwing stones in your glass house, you might want to duck the falling glass around you. You can site Gold Banc's longer term stock performance because it's lower now than it was in early 2004, but that multiple comes with smaller institutions. The earnings performance is embarrassing, but I'm sure you have nothing to do with it.
Why don't you cut your crap on this board and go focus on your own problems; send your negativity over to the Gold Banc crowd - you'll fit right in.
When I left SunTrust last year, the turnover ratio for tellers in the region I worked was over 70%. That was through voluntary resignations and terminations. Guess who most customers see every day - that's right, the tellers. I can't speak for turnover in other areas and positions of the bank, but for the teller position it was awful. From what I have heard form friends still employed, management has changed the requirements of the teller position and they are focusing on this turnover issue but it's a shame they let it get that bad in the first place.
Shouldn't all you 4 yr olds be in day care instead of spending time on the Yahoo message board ? Let's talk about something intelligent instead of bad mouthing each other. Get a life kids !!!!!!