This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Georgia Banks Bounce Back

Largest Georgia Banks

Here are the 10 largest banks headquartered in Georgia, along with key metrics as of March 31:

The largest Georgia bank is SunTrust Bank of Atlanta -- the main subsidiary of SunTrust Banks (STI) -- which had $172.3 billion in total assets as of March 31. SunTrust Bank also has the leading deposit market share in the state, with 19% of Georgia deposits as of June 30, 2011, according to the most recent FDIC data.

SunTrust Bank's first-quarter return on average assets (ROA) was 0.61%, improving from 0.39% in the fourth quarter, and 0.24% in the first quarter of 2011.

The holding company's stock closed at $22.72 Tuesday, returning 29% year-to-date, following a 40% decline during 2011. The shares trade for 0.9 times their reported March 31 tangible book value of $25.49, and for 8.5 times the consensus 2013 earnings estimate of $2.68 a share, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is $1.91.

UBS analyst Greg Ketron rates SunTrust's stock a "Buy," with a $27 price target, saying on May 14 that he believes "environmental costs will continue to decline going into 2013 given better visibility on mortgage repurchase costs and the positive benefit from stabilized markets on problem asset-related costs."

Interested in more on SunTrust? See TheStreet Ratings' report card for this stock.

The second-largest Georgia bank is Synovus Bank of Columbus, with $26.8 billion in total assets as of March 31. The bank's holding company, Synovus Financial (SNV), owes $967.9 million in federal bailout funds received through the Troubled Assets Relief Program, or TARP, in December 2008.

Synovus Bank's first-quarter ROA was a respectable 0.78%, improving from 0.77% the previous quarter and a negative 0.79% a year earlier.

On the holding company level, Synovus Financial reported first-quarter net income available to common shareholders of $21.4 million, or 2.4 cents a share, compared to earnings to common shareholders of $12.8 million, or 1.4 cents a share in the fourth quarter, and a net loss to common shareholders of $93.7 million, or 11.9 cents a share, during the first quarter of 2011.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,106.63 -6.91 -0.04%
S&P 500 1,986.84 +3.31 0.17%
NASDAQ 4,472.3370 +16.3210 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs