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  - 07/29 07:48:15 pm
42.42 USD   -0.09%
07/22 SUNTRUST BANKS : Home Loan Activity Flourishes
07/22DJSUNTRUST BANKS' : Profit and Revenue Rise in Latest Quarter
07/22 SUNTRUST BANKS : beats Street 2Q forecasts
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.
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
07/22 SUNTRUST BANKS : beats Street 2Q forecasts
07/22 SUNTRUST BANKS INC : Regulation FD Disclosure, Financial Statements and Exhibits..
07/22 SUNTRUST BANKS : Reports Second Quarter 2016 Results
07/19SUNTRUST BANKS, INC. : half-yearly earnings release
07/17 SUNTRUST BANKS : Bank's Monogram(R)-Based Loan Program Offers New Education Loan..
07/15 SUNTRUST : Chance to Win Your Loan On Us for a Year
07/14 SUNTRUST BANKS : Bank's Monogram(R)-Based Loan Program Offers New Education Loan..
More news
Sector news : Banks - NEC
07:15p CITIGROUP : Citi's U.S. economic index posts biggest drop since Feb. 2014
04:36pDJBARCLAYS : U.S. Consumer Sentiment Fell in July
04:26pDJBANCO POPULAR ESPANOL : Españ ol Fires Chief Executive
03:17p BARCLAYS : shares jump as transatlantic refocus starts to pay off
02:38pDJICICI BANK : Correction to ICICI Bank Earnings Article
More sector news : Banks - NEC
News from SeekingAlpha
07/26 GOLDMAN SACHS : The Newest Online Lender
07/26 BofA's bank picks for low rate scenario
07/25 SunTrust pulled from Conviction Buy list at Goldman
07/22 SunTrust Banks' (STI) CEO William Rogers on Q2 2016 Results - Earnings Call T..
07/22 More on SunTrust's Q2
Advertisement
Financials ($)
Sales 2016 8 535 M
EBIT 2016 2 530 M
Net income 2016 1 780 M
Debt 2016 -
Yield 2016 2,37%
P/E ratio 2016 12,08
P/E ratio 2017 11,75
Capi. / Sales 2016 2,49x
Capi. / Sales 2017 2,44x
Capitalization 21 278 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 30
Average target price 44,7 $
Spread / Average Target 5,3%
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.-0.89%21 278
WELLS FARGO & CO-11.46%244 358
JPMORGAN CHASE & CO.-2.92%234 392
INDUSTRIAL AND COML BA..-5.90%223 651
CHINA CONSTRUCTION BAN..-12.63%171 054
BANK OF AMERICA CORP-12.77%150 792
More Results