SunTrust Banks reported Q4/16 net income available to common shareholders of $448 million, down from $467 million in the same quarter a year earlier. The bank noted the provision for loan losses of $101 million was up from $51 million a year earlier primarily as a result higher charge-offs. Net charge-offs as a percentage of average loans of .38% in Q4/16 was up from .24% a year earlier.

“Our performance this quarter marked a solid conclusion to a strong year for SunTrust,” said William H. Rogers, Jr., chairman and CEO of SunTrust Banks. “2016 was the fifth consecutive year in which we grew earnings per share, improved efficiency, and increased capital return, demonstrating our consistent ability to deliver on the commitments we’ve made to our shareholders. I am confident that 2017 will be another year in which we continue our positive financial performance trajectory and improve financial confidence for our clients and communities.”