Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  SunTrust Banks, Inc.    STI

Delayed Quote. Delayed  - 08/31 10:03:43 pm
44.07 USD   +0.16%
08/29 SUNTRUST BANKS, : ex-dividend day
08/26 SUNTRUST BANKS : Named to CIO 100 for Innovative Use of Information ..
08/19 SUNTRUST BANKS : to Present at the Barclays Global Financial Service..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

SunTrust Banks, Inc. : April 17, 2012 SunTrust Selected for New Markets Tax Credit Allocation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/17/2012 | 10:10pm CEST

ATLANTA, April 17, 2012 /PRNewswire via COMTEX/ --SunTrust Banks, Inc. (NYSE: STI) was selected by the U. S. Treasury Department's Community Development Financial Institutions Fund earlier this year to receive $45 millionin tax credit allocation authority in the 2012 round of the New Markets Tax Credit (NMTC) Program. The Company's subsidiary, SunTrust Community Capital, was one of 70 recipients receiving awards totaling $3.6 billion. This latest allocation to SunTrust is in addition to $295 millionin previous rounds of which SunTrust has deployed $243.9 million. This is the fifth year SunTrust has been selected as a recipient.

The NMTC Program is designed to attract private-sector capital investment into the nation's urban and rural low-income areas to help finance community development projects, stimulate economic growth and create jobs.

The award will allow SunTrust to continue to make loans and investments with reduced interest rates and/or non-traditional terms and conditions.

"SunTrust is extremely proud of its continuing success in the New Markets Tax Credit industry, and we are hopeful that Congress will extend the New Markets Tax Credit Program to enable us to continue making these impacts for low-income communities and low-income persons," said Chris McGillis, President of SunTrust Community Capital, LLC. "The program enhances our capabilities as a leading provider of community development financial solutions to clients throughout the Southeast and Mid-Atlantic. Our clients' efforts, supported by this capital investment, helps create jobs and solid economic opportunities in areas of severe economic distress."

The NMTC program, established by Congress in December of 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs). The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. Substantially all of the taxpayer's investment must in turn be used by the CDE to make qualified investments in low-income communities.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of December 31, 2011, SunTrust had total assets of $176.9 billionand total deposits of $127.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.

SOURCE SunTrust Banks, Inc.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SUNTRUST BANKS, INC.
08/29 SUNTRUST BANKS, INC. : ex-dividend day
08/26 SUNTRUST BANKS : Named to CIO 100 for Innovative Use of Information Technology
08/19 SUNTRUST BANKS : to Present at the Barclays Global Financial Services Conference
08/12 SUNTRUST BANKS INC : Change in Directors or Principal Officers (form 8-K)
08/10 DAILY DIVIDEND REPORT : Sti, cae, pru, dw, crs
08/09 SUNTRUST BANKS : Announces Increase in Common Stock Dividend
08/04 SUNTRUST BANKS : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND..
07/28 SUNTRUST BANKS : Reports Second Quarter 2016 Results
07/22 SUNTRUST BANKS : Home Loan Activity Flourishes
07/22DJSUNTRUST BANKS' : Profit and Revenue Rise in Latest Quarter
More news
Sector news : Banks - NEC
03:50aDJBANK OF PHILIPPINE ISLANDS : BPI Signs $400 Million, 3-Year Syndicated Loan
08/31DJWELLS FARGO : Amazon End Student-Loan Partnership -- Update
08/31DJDEUTSCHE BANK : Weighs Options, Including Sale of Unit, to Speed Flagging Overha..
08/31DJSix-Weeks Later, Wells Fargo, Amazon End Partnership
08/31DJWELLS FARGO : Amazon End Student-Loan Partnership
More sector news : Banks - NEC
News from SeekingAlpha
08/23 SUNTRUST BANKS : Hard To Ignore
08/17 NO FREE LUNCH FOR BANK INVESTORS : Don't Buy The Hype
08/16 SunTrust downgraded after big run
08/14 9 DIVIDEND INCREASES : August 8-12, 2016
08/09 SunTrust Banks declares $0.26 dividend
Advertisement
Financials ($)
Sales 2016 8 544 M
EBIT 2016 2 542 M
Net income 2016 1 782 M
Debt 2016 -
Yield 2016 2,29%
P/E ratio 2016 12,51
P/E ratio 2017 12,15
Capi. / Sales 2016 2,55x
Capi. / Sales 2017 2,50x
Capitalization 21 813 M
More Financials
Chart SUNTRUST BANKS, INC.
Duration : Period :
SunTrust Banks, Inc. Technical Analysis Chart | STI | US8679141031 | 4-Traders
Full-screen chart
Technical analysis trends SUNTRUST BANKS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 44,6 $
Spread / Average Target 1,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
William H. Rogers Chairman & Chief Executive Officer
Aleem Gillani Chief Financial Officer & Executive Vice President
Anil T. Cheriyan Chief Information Officer & EVP
Phail Wynn Independent Director
M. Douglas Ivester Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SUNTRUST BANKS, INC.2.87%21 813
WELLS FARGO & CO-6.55%255 406
JPMORGAN CHASE & CO.2.23%243 809
INDUSTRIAL AND COML BA..-1.53%237 959
CHINA CONSTRUCTION BAN..-9.00%187 679
BANK OF AMERICA CORP-4.10%165 216
More Results