UPDATE: SunTrust Banks Q4 Profit Rises 33%

SunTrust Banks Inc STI reported a 33% rise in its fourth-quarter profit. SunTrust's quarterly earnings surged to $152 million, or $0.28 per share, from $114 million, or $0.23 per share, in the year-ago period. Its net interest income gained 2% to $1.32 billion. SunTrust's provisions for credit losses dropped 36% to $327 million. SunTrust's average loans in the quarter rose to $119.5 billion, from $114.9 billion. SunTrust shares gained 0.74% to $20.39 in after-hours trading.