A two-year internal growth project fueled a 7% gain in first-quarter earnings at SunTrust Banks Inc., which reported profits Tuesday of $161.1 million.

SunTrust, with $53.7 billion in assets, beat analysts' consensus estimates by a penny, earning 74 cents on a per-share basis, compared to 66 cents in last year's period.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.