SunTrust Banks earnings down 99 percent

SunTrust Banks Inc. said Wednesday that its 4Q earnings were down 99 percent because of rising loan loss provisions and a loss linked to bailing out investment funds.

Photo: SunTrust Banks earnings down 99 percent

Net income decreased to 3/3 million dollars – or a cent per share – from $498.6 million, or $1.39 per share.

SunTrust Banks, Inc. is an American bank holding company. The largest subsidiary is SunTrust Bank. It had $182.2 billion in assets as of December 31, 2006 . SunTrust Bank's most direct corporate parent was established in 1891 in Atlanta , Georgia , where its headquarters remain. SunTrust Bank operates approximately 1,700 bank branches across southeastern states, including Alabama , Arkansas , Florida , Georgia , Maryland , Mississippi , North Carolina , South Carolina , Tennessee , Virginia , West Virginia, and Washington, DC.