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Tag Archives: SunTrust

A New Bank Rises

The all-stock deal will create the sixth-largest bank in the U.S. Here are the details of the acquisition.

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Mortgage Servicing Boost SunTrust’s Income

In its Q1 results, SunTrust Bank noted that higher mortgage-related income and investment-related income pushed the noninterest income up by $32 million. Mortgage servicing income posted a strong quarter, with a net income of $53 million over the previous quarter’s $25 million. Still, this was a decrease from the previous year’s Q1 income of $62 million.

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SunTrust Reports Q2 2015 Net Income of $467 Million; Comerica Totals $135 Million

SunTrust Banks, Inc. reported a net income increase of 14 percent to $467 million available to common shareholders, according to the bank’s Q2 2015 earnings statement released Friday. Comerica reported that their Q2 2015 earnings reached $135 million, or $0.73 cents per share in their earnings statement also released on Friday. Last quarter, the bank reported a net income of $134 million and $151 million for the Q2 2014.

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SunTrust to Pay North Carolina Homeowners $21.5 Million in Settlement

More than 2,200 homeowners who had mortgages with SunTrust and lost their homes to foreclosure in the past few years are eligible to a cash settlement worked out by the North Carolina Attorney General’s Office. North Carolina’s portion of the payout is about $21.5 million. Claim forms were mailed this week, and homeowners have until June 4 to submit a claim. The average payment will be around $850, according to Attorney General Roy Cooper.

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SunTrust Agrees to Pay $320M in HAMP Settlement

SunTrust Banks, Inc., announced that it would pay up to $320 million to halt a criminal investigation into whether it had dealt inappropriately with homeowners who were looking to take advantage of the Home Affordable Modification Program (HAMP). "Resolving this legacy matter enhances our ability to focus on the future and support the continued housing recovery," said Jerome Lienhard, SunTrust Mortgage, Inc., president and CEO.

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