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SunTrust Banks (STI) is forecasting as much as $300 million in legal losses tied to mortgage probes, and it has disclosed the existence of four new investigations.
February 25 -
In a reflection of how important--and how tough--expense cuts are to banks these day, SunTrust devoted part of its recent earnings call to discussing a real estate move aimed at saving $100,000 a month.
January 22 -
Scenario-based planning is one of several services SunTrust is making available to mass-affluent and high-net-worth clients. The launch comes at a time when banks see an opportunity to tailor personal financial management services to affluent clients in spite of low general adoption .
February 18
William Rogers, chief executive officer of SunTrust Banks Inc., was awarded $5.78 million for his work last year, 32% less than for 2012.
Rogerss pay included a $1.3 million cash bonus, $900,000 salary and a $3.59 million award that included restricted stock and options, the Atlanta-based lender said today in a
Rogers's bonus declined 32% from the previous year, while his salary was unchanged, SunTrust said in the filing. As part of his 2012 compensation, Rogers, 56, was awarded a one- time $2.2 million stock award.
His 2013 bonus was based on whether the bank met profitability targets including net income and efficiency, according to the filing. Net income declined 31% to $1.34 billion last year and the lender's efficiency ratio deteriorated to 71.75%. Shares of SunTrust increased 30% last year, trailing the 35% advance of 24-company KBW Bank Index.
