SOURCE: Five Star Equities

Five Star Equities

May 29, 2012 08:20 ET

Despite Global Economic Uncertainties U.S. Banking Industry Looking Strong -- Posts Impressive First Quarter

Five Star Equities Provides Stock Research on Huntington Bancshares and SunTrust Banks

NEW YORK, NY--(Marketwire - May 29, 2012) - The U.S. Banking Industry has continued to show signs of recovery coming out of the recent recession. The industry saw just 16 FDIC-insured banks fail in the first quarter of the year, the lowest total since the end of 2008, according to the FDIC's quarterly banking profile. Also the number of banks at risk of failure fell to 772, the lowest total since the end of 2009, from 813 in the previous quarter. Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Huntington Bancshares Incorporated (NASDAQ: HBAN) and SunTrust Banks, Inc. (NYSE: STI).

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Last Thursday, the FDIC stated that the U.S. Banking Industry posted a first quarter profit of $35.3 billion, their best since 2007. FDIC-insured banks first quarter profits grew 23 percent ($6.6 billion) from the year prior, marking the 11th consecutive quarter profits have shown a year-over-year increase according to the FDIC. "The condition of the industry continues to gradually improve," said Martin J. Gruenberg, the FDIC's acting chairman. "Insured institutions have made steady progress in shedding bad loans, bolstering net worth and increasing profitability."

Five Star Equities releases regular market updates on the Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Huntington Bancshares Incorporated is a $56 billion regional bank holding company headquartered in Columbus, Ohio. Huntington's has a six-state banking franchise covering: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. Huntington last month reported 2012 first quarter net income of $153.3 million, up $26.4 million, or 21%, from $126.9 million in the prior quarter.

SunTrust Banks is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. The Company operates an extensive branch and ATM network throughout the Southeast and Mid-Atlantic States. SunTrust last month reported total revenue was $2.2 billion for the first quarter of 2012, an increase of $171 million from the prior quarter and $58 million higher than the first quarter of 2011.

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