Suncorp (ASX:SUN) is the company that most attracts us amongst the regional banks

Suncorp (ASX:SUN) is the company that most attracts us amongst the regional banks. Chief executive Patrick Snowball has done a good job cleaning up the company after it ran into a wall of bad debts due to lousy loans made prior to the GFC. The company was also nearly pushed to the brink after John Mulcahy paid a ludicrous amount at the peak of the cycle for insurance company Promina. Suncorp has offloaded most of its problematic loans, the natural catastrophe environment remains benign, premiums have been increasing, it's taken write-offs on the poor performing life insurance business and there's plenty of opportunity to pay out more special dividends over the next couple of years. At current prices we're prepared to wait for bit more bad news to be priced in before considering an upgrade. (VIEW LINK)