SunTrust 2010 Annual Report Download - page 101
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Please find page 101 of the 2010 SunTrust annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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2009. Additionally, 2009 included a $112 million gain on Visa Class B shares, compared to the same period in 2008 which
included an $82 million gain from the sale of a fuel card and fleet management subsidiary, an $86 million gain on our
holdings of Visa in connection with its IPO, a $37 million gain on sale/leaseback of real estate properties, and $21 million of
merchant card fee income generated by Transplatinum in 2008.
Total noninterest expense was $112 million, a decrease of $28 million, or 20%. The decrease was mainly due to the
recognition of $183 million in expense related to the contribution of Coke shares to the SunTrust charitable foundation in the
third quarter of 2008. The decrease was partially offset by a $79 million increase in FDIC insurance expense primarily due to
the special assessment recorded in the second quarter of 2009. While the special assessment was recorded in the Other line of
business, the increase in base FDIC premium expenses was recognized within the lines of business. Also 2009 included a $7
million accrual for Visa litigation compared to a $34 million reversal of a portion of the Visa litigation in 2008.
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