Shares of regional banks advanced Friday after improving credit trends lifted quarterly results across the industry.

The positive news stemmed in part from improving credit trends, as SunTrust Banks Inc., Fifth Third Bancorp, Huntington Bancshares Inc. all reported easing loan losses.

In afternoon trading, SunTrust shares were up $1.61, or nearly 6 percent, at $29.48. Fifth Third stock gained 27 cents, or nearly 2 percent, at $14.49. Huntington shares rose 18 cents, or 2.6 percent, to $7.03.

On Friday, SunTrust easily beat Wall Street expectations with its second-consecutive quarterly profit. The Atlanta-based bank reported stronger interest and noninterest income, along with a steep drop in the money it set aside for loan losses.

Huntington Bancshares also said earlier this week that it swung to a profit in the fourth quarter as souring loans continued to decline. The bank based in Columbus, Ohio, said its results included a one-time charge of 7 cents a share for the deemed dividend resulting from Huntington's previously announced repayment of federal government aid during the financial crisis.