SunTrust Banks, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Announces Unaudited Consolidated Net Charge-Offs for the Fourth Quarter Ended December 31, 2018
For the full year, the company reported total revenue was $9,213 million against $8,987 million a year ago. Total revenue- FTE was $9,301 million against $9,132 million a year ago. Net income was $2,775 million against $2,273 million a year ago. Diluted net income per average common share was $5.74 against $4.47 a year ago. Basic net income per average common share was $5.79 against $4.53 a year ago. For the year ended December 31, 2018, net interest income was $6.1 billion, a $297 million, or 5%, increase compared to the year ended December 31, 2017.
Net charge-offs for the current quarter were $97 million, or 0.26% of total average LHFI on an annualized basis, compared to 0.24% during the prior quarter and 0.29% during the fourth quarter of 2017.