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The bank, based in Atlanta, said it had earnings of $1.03 per share. The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings ...
Weak refinancing, thanks to higher interest rates, took a bite out off regional banks' earnings in the second quarter and loan growth remained sluggish, mirroring trends seen at larger banks. Mortgage banking income fell by double digits on a percentage basis at most regional banks that have reported results so far. BB&T Corp posted a 15 percent fall in mortgage banking income, while U.S. Bancorp, the largest regional bank, said revenue from mortgage banking fell 11 percent.
Improvement in net interest income acted as a tailwind for SunTrust (STI) in Q2 earnings. However, costs increased, which was a negative.