SunTrust 2008 Annual Report Download - page 173
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SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Note 25 - SunTrust Banks, Inc. (Parent Company Only) Financial Information
Statements of Income - Parent Company Only
Twelve Months Ended December 31
(Dollars in thousands) 2008 2007 2006
Income
From subsidiaries:
Dividends—substantially all from SunTrust Bank $1,068,001 $1,896,976 $1,102,627
Interest on loans 25,754 33,699 26,800
Trading account losses and commissions (71,648) (242,780) (3,396)
Other income 270,631 135,251 134,293
Total income 1,292,738 1,823,146 1,260,324
Expense
Interest on short-term borrowings 33,840 67,013 23,798
Interest on long-term debt 308,560 273,993 268,120
Employee compensation and benefits (3,099) 4,116 32,851
Service fees to subsidiaries 12,382 18,880 25,446
Other expense 5,252 22,051 61,641
Total expense 356,935 386,053 411,856
Income before income taxes and equity in undistributed income/(loss) of subsidiaries 935,803 1,437,093 848,468
Income tax benefit 39,984 131,494 52,805
Income before equity in undistributed income/(loss) of subsidiaries 975,787 1,568,587 901,273
Equity in undistributed income/(loss) of subsidiaries (180,013) 65,428 1,216,198
Net income 795,774 1,634,015 2,117,471
Series A preferred dividends 22,255 30,275 7,729
U.S. Treasury preferred dividends 26,579 --
Net income available to common shareholders $746,940 $1,603,740 $2,109,742
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