Despite the market having its doubts about Suntrust Bank online banking, Suntrust’s CFO, Mark Chancy, has faith that Suntrust banking will be able to weather the mortgage meltdown. This reassurance from Suntrust bank online banking comes off of three stock analysts downgrading Suntrust bank.
This current economic environment has been terrible for America’s banks. As foreclosures rise and americans are having trouble refinancing their adjustable rate mortgages, Suntrust banking has no choice but to stick it out. This might be the toughest time for america’s banking sector since the savings and loan debacle in the 1990s.
Since Suntrust bank online banking has its headquarters in the South, Atlanta, Georgie, Suntrust banking has been especially hit hard from its Florida mortgages. Florida saw some of the highest housing price increases earlier in the decade and now it is experiencing some of the steepest declines. This has hurt Suntrust Bank tremendously.
Despite these hard times, Suntrust Bank online banking is weathering the storm. It is still offering competitive Suntrust checking accounts and savings accounts. We will continue to provide you with updates about Suntrust online banking.