SunTrust Banks Inc. said Monday that its loans continue to shrink and deposits have fallen, too.
William Rogers, the $174.1 billion-asset Atlanta company's president, said during a conference held by Raymond James & Associates that loans had declined this year through Feb. 28, albeit at a "slower pace" than in the fourth quarter. Deposits "have trended down somewhat," which he characterized as a seasonal trend.
Its total loans fell to $113.7 billion in the fourth quarter, 2.4% lower than in the previous quarter. Deposits grew during the period, to $116.3 billion.
Rogers also emphasized that SunTrust, which remains in the Troubled Asset Relief Program and is looking to return to profitability, is not in the market to acquire. "Our primary focus right now is on our franchise and the opportunities within our franchise," he said in response to a question about using capital. "That's where we are focusing 99% of our time."