SunTrust Banks, Inc. (Parent Company Only) Financial Information

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

SunTrust Banks, Inc. (Parent Company Only) Financial Information

NOTE 24 - SUNTRUST BANKS, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION

Statements of Income/(Loss) - Parent Company Only

	Year Ended December 31
(Dollars in millions)	2011			2010			2009
Income
Dividends1		$29			$28			$14
Interest on loans	11			2			3
Trading income/(loss)	53			44			(2		)
Other income	132			165			62
Total income	225			239			77
Expense
Interest on short-term borrowings	9			9			8
Interest on long-term debt	226			228			273
Employee compensation and benefits2	(7		)	(13		)	(46		)
Service fees to subsidiaries	11			2			15
Potential mortgage servicing settlement and claims expense	120			—			—
Other expense	13			21			36
Total expense	372			247			286
Loss before income taxes and equity in undistributed income/(loss) of subsidiaries	(147		)	(8		)	(209		)
Income tax benefit	49			12			97
(Loss)/income before equity in undistributed income/(loss) of subsidiaries	(98		)	4			(112		)
Equity in undistributed income/(loss) of subsidiaries	745			185			(1,452		)
Net income/(loss)	647			189			(1,564		)
Preferred dividends, Series A	(7		)	(7		)	(14		)
Dividends and accretion of discount on preferred stock issued to the U.S. Treasury	(66		)	(267		)	(266		)
Accelerated accretion associated with repurchase of preferred stock issued to the U.S. Treasury	(74		)	—			—
Gain on repurchase of Series A preferred stock	—			—			94
Dividends and undistributed earnings allocated to unvested shares	(5		)	(2		)	17
Net income/(loss) available to common shareholders		$495			($87	)		($1,733	)

¹Substantially all dividend income received from subsidiaries.

² Includes incentive compensation allocations between Parent Company and subsidiaries.

Balance Sheets - Parent Company Only

	December 31
(Dollars in millions)	2011			2010
Assets
Cash held at SunTrust Bank		$220			$1
Interest-bearing deposits held at other banks	19			19
Interest-bearing deposits held at SunTrust Bank	1,402			2,857
Cash and cash equivalents	1,641			2,877
Trading assets	93			207
Securities available for sale	324			4,717
Loans to subsidiaries	3,666			481
Investment in capital stock of subsidiaries stated on the basis of the Company’s equity in subsidiaries’ capital accounts:
Banking subsidiaries	21,783			20,631
Nonbanking subsidiaries	1,278			1,249
Goodwill	99			99
Other assets	397			324
Total assets		$29,281			$30,585
Liabilities and Shareholders’ Equity
Short-term borrowings:
Subsidiaries		$392			$284
Non-affiliated companies	1,710			1,355
Long-term debt:
Subsidiaries	160			160
Non-affiliated companies	6,294			4,978
Other liabilities	766			807
Total liabilities	9,322			7,584
Preferred stock	275			4,942
Common stock	550			515
Additional paid in capital	9,306			8,403
Retained earnings	8,978			8,542
Treasury stock, at cost, and other	(899		)	(1,017		)
AOCI, net of tax	1,749			1,616
Total shareholders’ equity	19,959			23,001
Total liabilities and shareholders’ equity		$29,281			$30,585

Statements of Cash Flows - Parent Company Only

	Year Ended December 31
(Dollars in millions)	2011			2010			2009
Cash Flows from Operating Activities:
Net income/(loss)		$647			$189			($1,564	)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Equity in undistributed (income)/loss of subsidiaries	(745		)	(185		)	1,452
Depreciation, amortization and accretion	17			15			12
Potential mortgage servicing settlement and claims expense	120			—			—
Deferred income tax (benefit)/provision	(56		)	(7		)	23
Stock option compensation and amortization of restricted stock compensation	44			66			77
Net (gain)/loss on extinguishment of debt	(3		)	1			32
Net securities gains	(92		)	(38		)	(7		)
Net gain on sale of assets	—			(18		)	—
Contributions to retirement plans	(8		)	(8		)	(26		)
Net (increase)/decrease in other assets	(192		)	38			50
Net increase in other liabilities	10			123			48
Net cash (used in)/provided by operating activities	(258		)	176			97
Cash Flows from Investing Activities:
Proceeds from maturities, calls and repayments of securities available for sale	61			164			81
Proceeds from sales of securities available for sale	6,700			7,664			38
Purchases of securities available for sale	(2,374		)	(7,737		)	(5,540		)
Proceeds from maturities, calls and repayments of trading securities	137			97			129
Proceeds from sales of trading securities	75			79			9
Purchases of trading securities	—			—			(87		)
Net change in loans to subsidiaries	(3,185		)	221			134
Capital contributions to subsidiaries	(250		)	—			—
Sale of other assets	—			7			—
Other, net	—			15			2
Net cash provided by/(used in) investing activities	1,164			510			(5,234		)
Cash Flows from Financing Activities:
Net increase in other short-term borrowings	463			5			444
Proceeds from the issuance of long-term debt	1,749			—			575
Repayment of long-term debt	(482		)	(350		)	(673		)
Proceeds from the issuance of preferred stock	103			—			—
Proceeds from the issuance of common stock	1,017			—			1,830
Repurchase of preferred stock	(4,850		)	—			(228		)
Dividends paid	(131		)	(259		)	(329		)
Purchase of outstanding warrants	(11		)	—			—
Net cash (used in)/provided by financing activities	(2,142		)	(604		)	1,619
Net (decrease)/increase in cash and cash equivalents	(1,236		)	82			(3,518		)
Cash and cash equivalents at beginning of period	2,877			2,795			6,313
Cash and cash equivalents at end of period		$1,641			$2,877			$2,795
Supplemental Disclosures:
Income taxes (paid to)/received from subsidiaries		($2	)		($338	)		$125
Income taxes (paid)/received by Parent Company	(66		)	406			(1		)
Net income taxes (paid)/received by Parent Company		($68	)		$68			$124
Interest paid		$246			$233			$275
Accretion of discount for preferred stock issued to the U.S. Treasury	80			25			23
Extinguishment of forward stock purchase contract	—			—			174
Gain on repurchase of Series A preferred stock	—			—			94
Noncash capital contribution to subsidiary	—			997			152