SunTrust Q2 profit falls, sells Coke shares

NEW YORK (Reuters) - SunTrust Banks Inc (STI.N), a large U.S. southeast regional bank, said on Tuesday second-quarter profit declined, hurt by higher credit costs.

Net income available to common stockholders for the Atlanta-based company fell to $535.3 million, or $1.53 per share, from $673.9 million, or $1.89, a year earlier. One-time items increased profit by 75 cents per share, it said.

SunTrust also said it completed three transactions regarding its long-time holdings in soft drink maker Coca-Cola Co (KO.N). It said these increased its Tier 1 capital ratio, a measure of its ability to cover losses, by 0.68 of a percentage point.

(Reporting by Jonathan Stempel; Editing by Derek Caney)