SunTrust Banks reported Q3/13 net income available to common shareholders of $179 million compared to $1.07 billion for the same quarter in 2012 when the company reported a pre-tax gain of $1.9 billion from the sale of a long-term investment in Coca-Cola.

SunTrust said the current quarter’s results were negatively affected by specific items the company previously announced on October 10, 2013 that related to the bank’s mortgage lending practices and included settlements with the FHA, Freddie Mac, Fannie Mae and Federal Reserve and other matters that, in the aggregate, negatively impacted net income available to common shareholders in the third quarter by $179 million.

“Notable core operating trends continued this quarter, including steady loan growth, disciplined expense management, and further credit quality improvement, despite the challenging mortgage environment,” said William H. Rogers, Jr., chairman and chief executive officer of SunTrust Banks.

To read the SunTrust news release click here.