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SunTrust Surges 5% as Georgia Lender Controls Costs Amid Market Malaise

Shares of SunTrust, (STI - Get Report) , Georgia's biggest bank, surged more than 5% Thursday after the bank said it controlled costs and increased loans during the first quarter, even as investment-banking revenue slumped and losses grew in the beleaguered energy industry.

The bank said earnings per share in the first quarter rose 8% from a year earlier to 84 cents, as revenue rose 5% to $2.1 billion. Atlanta-based SunTrust's net interest margin -- the difference between what it collects on loans and what it pays out on deposits -- rose by 0.21 percentage point to 3.04%.

It was "an all-around solid quarter in...