SOURCE: The Bedford Report

The Bedford Report

February 09, 2011 08:46 ET

Improving Employment Benefits Synovus & SunTrust

The Bedford Report Provides Analyst Research on Synovus & SunTrust

NEW YORK, NY--(Marketwire - February 9, 2011) -  Last week the US economy was given a boost when the Bureau of Labor Statistics (BLS) announced that the US unemployment rate dropped to 9 percent in January from 9.4 percent in December. Paul Zemsky, the head of asset allocation at ING Investment Management, argues that "The U.S. economy is all about jobs and anything that leads folks to believe that there's a better job market will be good for equities." This is especially true for regional banks. When the Obama Administration administered the much publicized stress tests on the banking sector, banks were tested for their ability to withstand the pressure stemming from a hefty 10% unemployment rate. High unemployment has led to a wave of foreclosures, a series of delinquencies in consumer lending and has compressed most banks' bottom lines. The Bedford Report examines the outlook for companies in the Regional Banking Sector and provides research reports on Synovus Financial Corporation (NYSE: SNV) and SunTrust Banks, Inc. (NYSE: STI). Access to the full company reports can be found at:

In recent quarters, regional banks have begun to post improved credit quality. More thorough and cautious credit checks have led to fewer delinquent loans and greater financial stability. As such, Banks are setting aside less money to cover bad loans, and some are seeing loan losses recede. While credit quality improved, the high unemployment rate has been damaging to banks' long term loan growth. Improving employment numbers will hopefully, in time, lead to a boost in loan growth across the banking sector.

The Bedford Report releases regular market updates on the Regional Banking sector 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 analyst reports and industry newsletters.

Recently Synovus reported a fourth quarter loss of $180 million, or 23 cents per share, compared with a loss of $282.8 million, or 58 cents, a year ago. The bank said it was able to set aside less money to cover unpaid loans and it worked to trim costs.

Regional Bank SunTrust earned $114 million, or 23 cents per share in the fourth quarter. That is compared with a net loss of $316 million, or 64 cents per share, a year earlier.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at

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