SunTrust Banks Inc. said Thursday that it faced a deposit drain early in the third quarter but was able to reverse it by pushing money market accounts while benefiting from deposit runs at several competitors.

During an earnings conference call Thursday, James Wells 3rd, SunTrust's chairman, president, and chief executive, also indicated that the $174.8 billion-asset Atlanta company may have to do as some other firms have done and cut its dividend.

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