STI 2018 Annual Report

27 Item 6. SELECTED FINANCIAL DATA Year Ended December 31 (Dollars in millions and shares in thousands, except per share data) 2018 2017 2016 2015 2014 Summary of Operations: Interest income $7,205 $6,387 $5,778 $5,265 $5,384 Interest expense 1,218 754 557 501 544 Net interest income 5,987 5,633 5,221 4,764 4,840 Provision for credit losses 208 409 444 165 342 Net interest income after provision for credit losses 5,779 5,224 4,777 4,599 4,498 Noninterest income 3,226 3,354 3,383 3,268 3,323 Noninterest expense 5,673 5,764 5,468 5,160 5,543 Income before provision for income taxes 3,332 2,814 2,692 2,707 2,278 Provision for income taxes 548 532 805 764 493 Net income attributable to noncontrolling interest 9 9 9 10 11 Net income $2,775 $2,273 $1,878 $1,933 $1,774 Net income available to common shareholders $2,668 $2,179 $1,811 $1,863 $1,722 Adjusted net income available to common shareholders 1 $2,668 $2,179 $1,811 $1,863 $1,729 Net interest income-FTE 1 $6,075 $5,778 $5,359 $4,906 $4,982 Total revenue 9,213 8,987 8,604 8,032 8,163 Total revenue-FTE 1 9,301 9,132 8,742 8,174 8,305 Total adjusted revenue-FTE 1 9,301 9,132 8,742 8,174 8,200 Net income per average common share: Diluted $5.74 $4.47 $3.60 $3.58 $3.23 Adjusted diluted 1 5.74 4.47 3.60 3.58 3.24 Basic 5.79 4.53 3.63 3.62 3.26 Dividends declared per common share 1.80 1.32 1.00 0.92 0.70 Book value per common share 49.57 47.94 45.38 43.45 41.32 Tangible book value per common share 1 35.73 34.82 32.95 31.45 29.62 Market capitalization 22,541 30,417 26,942 21,793 21,978 Period End Balances: Total assets $215,543 $205,962 $204,875 $190,817 $190,328 Earning assets 192,497 182,710 184,610 172,114 168,678 LHFI 151,839 143,181 143,298 136,442 133,112 ALLL 1,615 1,735 1,709 1,752 1,937 Consumer and commercial deposits 161,544 159,795 158,864 148,921 139,234 Long-term debt 15,072 9,785 11,748 8,462 13,022 Total shareholders’ equity 24,280 25,154 23,618 23,437 23,005 Selected Average Balances: Total assets $207,277 $204,931 $199,004 $188,892 $182,176 Earning assets 186,154 184,212 178,825 168,813 162,189 LHFI 145,714 144,216 141,118 133,558 130,874 Intangible assets including residential MSRs 8,372 8,034 7,545 7,604 7,630 Residential MSRs 1,963 1,615 1,190 1,250 1,255 Consumer and commercial deposits 159,768 159,549 154,189 144,202 132,012 Long-term debt 12,458 11,065 10,767 10,873 12,359 Preferred stock 2,115 1,792 1,225 1,225 800 Total shareholders’ equity 24,210 24,301 24,068 23,346 22,170 Average common shares - diluted 464,961 486,954 503,466 520,586 533,391 Average common shares - basic 460,922 481,339 498,638 514,844 527,500 Financial Ratios: Effective tax rate 16% 19% 30% 28% 22% ROA 1.34 1.11 0.94 1.02 0.97 ROE 12.13 9.72 7.97 8.46 8.10 ROTCE 1 16.89 13.39 10.91 11.75 11.49 Net interest margin 3.22 3.06 2.92 2.82 2.98 Net interest margin-FTE 1 3.26 3.14 3.00 2.91 3.07 Efficiency ratio 61.58 64.14 63.55 64.24 67.90 Efficiency ratio-FTE 1 60.99 63.12 62.55 63.13 66.74 Tangible efficiency ratio-FTE 1 60.21 62.30 61.99 62.64 66.44 Adjusted tangible efficiency ratio-FTE 1 59.56 61.04 61.99 62.64 63.34 Total average shareholders’ equity to total average assets 11.68 11.86 12.09 12.36 12.17 Tangible common equity to tangible assets 1 7.63 8.21 8.15 8.67 8.44 Common dividend payout ratio 31.0 29.1 27.5 25.5 21.5