Suntrust earnings up in first quarter

Suntrust continues to rebound like much of the banking sector.  During the first 3 months of the year, Atlanta’s largest bank earned $250 million.  That’s up 39% for the year before.

More people refinanced their mortgages in the first quarter.  Some to take advantage of low interest rates, others joined a new government program to help those who owe more than their home is worth.  

That was good news for Suntrust.  Mortgage income rose to $63 million dollars.  That compares to a $26 million loss a year ago.