SunTrust second-quarter income up 35 percent
ATLANTA — SunTrust Banks Inc. said Friday its second-quarter net income jumped 35 percent, helped by better loan quality and lower expenses.
The Atlanta-based regional bank posted net income attributable to common shareholders of $365 million, or 68 cents per share for the three months ended June 30. That was up from $270 million, or 50 cents per share, in the same quarter of 2012.
Total revenue increased 7 percent to $2.25 billion from $2.1 billion.
Chairman and CEO William Rogers Jr. said the profit growth stemmed from better credit quality and a 10 percent drop in non-interest expense compared with a year ago along with improving economic conditions in the bank’s markets.
Franlin Chevrolet unveils new dealership
Statesboro — Franklin Chevrolet Cadillac Buick GMC held a grand opening and ribbon-cutting ceremony for their new state-of-the-art dealership on Friday.
The new facility, located on the same footprint as the old one at 733 Northside Drive, carries all four General Motors brands.
In addition to a new façade and signage, the facility features a brighter, more open floor plan allowing more space for customers to view GM vehicles and product information in the showroom, a larger, more convenient customer lounge including free Wi-Fi, media stations and a children’s play area.
“This is the most comprehensive image enhancement we’ve made in our 73 years in business,” said Robbie Franklin, owner of Franklin Automotive Group.
New security firm opens Savannah, Atlanta offices
Security Associates of Coastal Georgia, LLC, a security firm offering security and safety solutions for a variety of businesses, recently opened in Savannah and Atlanta.
“We are excited to offer Savannah businesses valuable security services to protect their life’s work, products and, most importantly, their employees,” said Erica Lumpert, owner and founder of Security Associates of Coastal Georgia.
The company provides security officers for small and events, facility security management, group escort and executive protection.
For more information, email ealumpert@securityacg.com or call 912-631-4236.
Money available for small business loans
The Savannah Community Development Corporation in conjunction with the Small Business Assistance Corporation (SBAC), its non-profit servicing agent, is poised to increase its lending efforts.
The organizations serve businesses in Savannah, southeast Georgia and the Lowcountry of South Carolina.
Shareholders in the development corporation have brought together $1.2 million, which will be available for small business loans in the local and surrounding areas.
The Savannah Regional Small Business Capital Fund is capitalized by four area banks — BB&T, Bank of America, SunTrust and Wells Fargo — to promote economic growth in the Savannah region.