Bloomberg News
SunTrust gets bounce on quarterly report.

SunTrust Banks Inc. ( STI - Get Report)  rose 4.6% Friday, Jan. 18, following the release of its fourth-quarter earnings report.
The Atlanta-based bank posted quarterly earnings per share of $1.40, down 8 cents from the same quarter in 2017. 
But for the year, SunTrust posted earnings per share of $5.74 -- up nearly 28% from 2017's earnings per share of $4.47.
The bank's earnings, however, came with some caveats. The quarterly earnings for 2018 included a separate charge of 10 cents a share related to the "settlement of a legacy pension plan," said the bank. And the 2017 annual earnings, noted the bank, had included some one-time benefits from tax reform and other items that bumped up the total by about 39 cents.
SunTrust's total revenue for the quarter rose 4% -- or $83 million -- from the same period last year to $2.4 billion, thanks largely to higher net interest income. Net interest income was $1.6 billion for the fourth quarter, or $98 million more than the same time in 2017.

For 2018, total net interest income hit $6.1 billion -- 5% over 2017. 

The bank's average consumer and commercial deposits totaled $161.6 billion for the fourth quarter, up 1% year over year.

"Our performance this quarter provided a good conclusion to a strong year for SunTrust," said William H. Rogers Jr., chairman and CEO of SunTrust Banks, in a statement. "Going into 2019, our diverse business mix, ongoing investments in growth and technology, and consistent underwriting discipline, give me confidence in our ability to continue to deliver long-term value for our owners."