8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 9, 2005

SunTrust Banks, Inc.

(Exact name of registrant as specified in its charter)

Georgia				001-08918				58-1575035
(State or other jurisdiction of Incorporation)				(Commission File Number)				(IRS Employer Identification No.)
303 Peachtree St., N.E.				Atlanta, Georgia				30308
(Address of principal executive offices)								(Zip Code)

Registrant's telephone number, including area code (404) 588-7711

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02    Results of Operations and Financial Condition.

Item 7.01    Regulation FD Disclosure.

Representatives of SunTrust Banks, Inc. (the "Registrant") are scheduled to make a presentation to analysts at a financial services conference held by UBS AG in New York, New York on Monday, May 9, 2005, at approximately 4:20 p.m. Eastern Time. A copy of certain presentation materials to be used by the Registrant at this conference is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. Such presentation materials will also be available on the Registrant's website at www.suntrust.com. Information contained on the Registrant's website is expressly not incorporated by reference into this Current Report on Form 8-K.

The information in the preceding paragraph, as well as Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Current Report on Form 8-K.

Item 9.01    Financial Statements and Exhibits.

(c) Exhibits.

99.1	Materials to be presented on May 9, 2005 (Furnished with the Commission as a part of this Current Report on Form 8-K).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

								SUNTRUST BANKS, INC. (Registrant)
Date: May 9, 2005
				By:				/s/ Kimberly N. Rhodes Kimberly N. Rhodes First Vice President and Senior Counsel – Corporate and Regulatory

EX-99.1

Mark Chancy

Chief Financial Officer

UBS Global Financial Services Conference   May 2005

1

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995.  Such statements include, but are not limited to, statements about the benefits of the
merger between SunTrust Banks, Inc. (“SunTrust”) and National Commerce Financial Corporation (“NCF”),
including future financial and operating results, SunTrust’s plans, objectives, expectations and intentions and
other statements that are not historical facts.  Such statements are based upon the current beliefs and
expectations of SunTrust’s management and are subject to significant risks and uncertainties.  Actual results
may differ from those set forth in the forward-looking statements.  The following factors, among others, could
cause actual results to differ from those set forth in the forward-looking statements: the risk that the cost
savings and any revenue synergies from the merger may not be fully realized or may take longer to realize
than expected; disruption from the merger making it more difficult to maintain relationships with clients,
employees or suppliers; increased competition and its effects on pricing, spending, third-party relationships
and revenues; the risk of new and changing regulation in the U.S. and internationally.  Additional factors that
could cause SunTrust’s results to differ materially from those described in the forward-looking statements
can be found SunTrust’s 2004 Annual Report on Form 10-K, and in the Quarterly Reports on Form 10-Q and
10-Q/A of SunTrust and NCF filed with the Securities and Exchange Commission and available at the
Securities and Exchange Commission’s internet site (http://www.sec.gov).  The forward-looking statements
in this presentation speak only as of the date of the filing, and SunTrust does not assume any obligation to
update the forward-looking statements or to update the reasons why actual results could differ from those
contained in the forward-looking statements.

This presentation includes some non-GAAP measures to describe SunTrust’s performance.  The
reconciliation of those measures to GAAP measures can be found in in the appendix of this presentation, as
well as in SunTrust’s earnings press release, which can be found on SunTrust’s website in the news section
of the investor relations pages.

2

SunTrust Overview

7^th largest commercial banking
organization in the U.S. with $165
billion in assets

We believe the National Commerce
transaction makes the “Best
Footprint in Banking” even better  

Approximately 1,700 retail and
specialized service branches and
2,700 ATMs

2003-2008
Projected
Weighted Average
Population Growth

SunTrust Branches

National Commerce Branches

(1)

(1)

Source: SNL Financial.  Note: the data reflects the 25 U.S. banks and thrifts by assets
as of December 31, 2004.  Weighted average population growth is based on MSA
deposits pro forma for pending and completed acquisitions.

3

NCF Merger

Similar management models and cultures have made transition smooth

SunTrust operating modelsuccessfully rolled out:

– Bill Reed named Vice Chair over all SunTrust geographies and companywide sales
   management

– Carolinas Group created with four regions and new Memphis Region part of Central
   Group

Systems successfully converted at over 400 branches and product capabilities in
place

Wal-Mart in-store partner strategy build-out continues - 63 new Wal-Mart branches
currently in operation with 18 additional planned to be opened in 2005

Overall employee retention has been strong

Client retention a top priority: 109,000 customer calls made by relationship managers
prior to the mid-April systems conversion and nearly 3 million conversion-related mailings
delivered by March 31^st with another 1.4 million planned in April and May

Projected expense efficiencies on target

4

SunTrust Transformation

2004

1998/99

Focused on
efficiency,
ability to
deliver
common  
customer
experience

Implemented
series of
operational
initiatives and
common
systems
platform

Implemented sales
strategy referred to
as S³ + E² = Selling,
Serving, Sustaining
client relationships
through Excellence
in Execution

Placed highest
priority on sales &
client retention

Established high
performance
standards for LOBs
and geographic units

Introduced
new
geographic
structure and
operating
model

Aligned top
talent to key
leadership
positions

Intensified
local market,
client and
sales focus

Extended
footprint into
key growth
markets with
Crestar
merger

Collapsed 28
bank
charters

Streamlined
functional
organization

Implemented
new revenue
initiatives in
key
businesses

Created
process
efficiencies
and
consistency
in key
business
lines

Enhanced
Franchise

One
Bank

Take the
Lead

Profit
Acceleration

Sales Culture
Transformation

5

Operating Model Differentiation

LOBs design business and
product strategies with direct
feedback from the line

Geographic partners are
empowered to deliver services,
products and pricing to local
customers

Our specialty businesses that
are centrally managed effectively
use this same geographic power
in our footprint (e.g. mortgage)

Focused on delivering the whole
institution to customers on an
integrated basis

Key to SunTrust’s on-going
success

6

SunTrust Today

Our foundation is firmly in place:

Fully functioning operating model with clear allocation of responsibilities

Key components of sales organization in place:  weekly sales meetings,
sales and referral goals and linked incentives

We have clear strategy and focused initiatives to drive performance:

Deliver “Big Bank” capabilities with local decision making and
responsiveness

Focus on customer acquisition and retention

Drive cross-LOB referrals

Key initiatives are generating tangible results

7

2004 LOB Accomplishments

Enhanced consumer and small businesschecking products; successfully launched
business free checking products

Increased focus on private banking
lending opportunities

Launched enhanced home equity line
product in Mid-Atlantic and emphasized
product in all geographic markets

Launched online web referral for branch
banking and enhanced service offerings
online channel through (“STOLI”).

New personal checking accts. up 8%, new
business checking up 12%

Private Banking loan production up 10%

New Direct Equity production increased 25%

Loans/lines originated through SunTrust’s
online service up 23%

New deposit accounts opened through
SunTrust’s online service up 25%

  Retail

Key Initiatives

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

8

2004 LOB Accomplishments

  Commercial

Results⁽¹⁾

Key Initiatives

Enhanced focus on developing
relationship plans for key customer
segments

Adopted salesmanagement
process and installed new
technology to support the
operating model

Launched collaborative effort
between Wealth and Investment
Management and Private Banking
to acquire new clients

Deposits up 15%

Loans up 6%

Independent research results (2002 to
2004):

Moved from #3 to #1 in market position
and lead relationships among
companies with $5MM - $250MM in
revenue within SunTrust’s geographic
markets

Within the $50MM-250MM segment,
increased from 21% to 24% lead share
on top of 6 percentage point growth
over the previous two-year period.

1,044 new relationships from team-based
mission

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

9

2004 LOB Accomplishments

  Corporate and Investment Banking

Key Initiatives

Drove profitability and growth
through the cross-sale of capital
markets products

Focused on achieving mutual
relevance with targeted clients to
which we commit capital

Institutionalized a dynamic client
planning process

Capital Markets Revenue cross-sold to the
Commercial and Wealth & Investment
Management LOB’s of $44.2MM, up 10%

Total Capital Markets Revenue of $354.9MM,
up $23.1MM or 7%

Corporate Banking’s newly booked credit
relationships greater than $10MM were up
49%

Corporate Banking’s credit exposure at year-
end was up $2.8 billion or 8%

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

10

2004 LOB Accomplishments

  Wealth and Investment Management

Formed partnerships with Commercial and
Private Banking to increase qualified
prospects and cross referrals

Increased sales staff; expanded AMA
Family Offices in Atlanta and three new
markets (Charlotte, Miami and Memphis)

Implemented financial planning throughout
Wealth Management and SunTrust
Securities; required financial plans for all
“A” Clients

Increased focus on retention initiatives;
created the client retention specialist in
Wealth Management

Loans up 14%

Deposits up 32%

Group trust new business up 8%

Institutional new trust business up 7%

Retail Investment sales up 25%

Insurance sales up 128%

Personal Trust retention improved by 28%

Key Initiatives

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

11

2004 LOB Accomplishments

  Mortgage

Grew purchase originations faster
than peer average

Increased the size of the mortgage
sales force

Opened 23 new offices to expand
national footprint to 168 total Retail
offices and 17 total Wholesale offices

Continued to emphasizecross-sell
program

Focused on home equity line  
production

Nearly $46 billion in total applications

Almost $27 billion in purchase
applications, up 32%

Over $30 billion in total closings

Over $17 billion in purchase closings,
up 22%

Total cross-sold/referred products up 42%

Key Initiatives

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

12

2004 Cross-LOB Referral Results  

Retail referred nearly $2.5 billion in closed mortgages to the Mortgage
LOB

Retail made 72,000 referrals to Wealth & Investment Management

Wealth & Investment Management made over 26,000 referrals to Retail

Commercial generated over $37 million in capital markets fees, up 8%

Over 186,000 total products cross-sold by Mortgage, up 44%

(1)

Cross-LOB referral initiatives accelerated activity in 2004, producing tangible results.

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

13

New Personal Checking Sales

New Business Checking Sales

New Home Equity Sales

New Business Banking Loans Sales

Deposit Outstandings

Loan Outstandings

Retail Investment Sales

Group Trust New Business

Institutional New Trust

Private Banking Loan Production

Purchase Mortgage Closings

# Total Products Cross-Sold

Debt Capital Markets

Equity Capital Markets

CIB New Business Revenue

New Lines/Loans

New Credit Cards

New Deposit Accounts

% Increase

Retail

STOLI
SunTrust
Online

Mortgage

Wealth &
Investment
Management

CIB

2004 Sales Results  

Commercial

8%

12%

25%

12%

15%

6%

25%

8%

7%

10%

22%

44%

5%

15%

10%

23%

12%

25%

(1)

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

14

Loan and Deposit Growth ⁽¹⁾⁽²⁾

($ in millions)

Highlights

1Q2005:
1Q2004

Low cost deposits ⁽¹⁾

Total loans

Mortgage loans

Real Estate Equity loans

30

   11

32

   25

   31

63

  29/32

   11/13

1Q2005:
1Q2004

Deposits ⁽¹⁾

29%

    9%

Est. Historical Combined

(2)

(1)Deposits = Consumer and Commercial Deposits; Low Cost Deposits = Demand Deposits + NOW + Savings.

(2)SunTrust provides estimated historical combined information to facilitate a more appropriate computation of the combined organization’s organic growth.

(3)Higher growth rate adjusted for consolidation of Three Pillars.

Reported

Commercial loans

17/24

3/8

(3)

(3)

(3)

(3)

15

Net Interest Margin Trend

3.12%

(1)

(1) NCF added 9 b.p., organic margin improved 1 b.p. from 3Q 04.

(2)

3.21%

(2) Day count added 4 b.p., organic margin was flat from 4Q 04.

Adjusting for the NCF impact, net interest margin has been relatively stable to improving
since the third quarter of 2003.

16

Net Interest Margin Compared to Peers

Peers include Bank of America, BB&T, Comerica, Fifth Third, Keycorp, M&T Bank, Mellon, National City, Northern Trust, PNC, Regions, US Bancorp, Wachovia and
Wells Fargo.  Numbers presented for peers are averages.

   Source: SNL Financial

Stable to improving NIM has brought SunTrust closer to the peer group average.

*

17

Strong Credit Quality

Net charge-offs

Net charge-offs to avg.
loans

NPAs

NPAs to
Loans/OREO/Other repo

Allowance for loan
losses

Allowance to non-
performing loans

Allowance to charge-
offs (years coverage)

2Q2004

3Q2004

1Q2004

$58,787

0.30%

$331,912

0.42%

$936,972

309.7%

4.0

$37,556

0.19%

$324,421

0.39%

$902,243

299.7%

6.0

$51,043

0.24%

$304,217

0.36%

$892,974

315.7%

4.4

$36,834

0.14%

$392,345

0.37%

$1,023,746

286.7%

6.9

1Q2005

($ in thousands)

4Q2004

$53,893

0.21%

$410,658

0.40%

$1,050,024

281.3%

4.9

Improving consumer and commercial credit quality trends have resulted in near historical low
NCO and NPA levels.

18

NCOs/Average Loans

Net charge-offs continue to compare favorably vs. peer group average.

*

Peers include Bank of America, BB&T, Comerica, Fifth Third, Keycorp, M&T Bank, Mellon, National City, Northern Trust, PNC, Regions, US Bancorp, Wachovia and
Wells Fargo.  Numbers presented for peers are averages.

   Source: SNL Financial

19

Fee Income Growth

Trust and investment mgmt.

Broker/dealer revenue

Deposits and other fees

Other noninterest income

Gain on sale of RCM assets,   
net of related expenses

Securities (losses)/gains

Total noninterest income

($ in millions)

$160.5

158.9

356.8

102.2

-

(19.4)

$759.0

$164.5

149.2

343.6

82.3

19.9

(5.7)

$753.8

21%

24%

19%

77%

-

-

27%

$136.2

119.9

287.7

46.3

-

4.9

$595.0

1Q 2004

1Q 2005

1Q2005:
1Q2004

4Q 2004

8%

2%

2%

29%

-

-

5%

1Q2005:
1Q2004

Est. Historical
Combined

(1)

(1)     SunTrust provides estimated historical combined information to facilitate a more appropriate computation of the combined organization’s organic growth.

Reported

Including NCF in 2004 data, total noninterest income increased 5% during the first
quarter despite weak deposit fee growth.

Reported

20

(1)

Excluding merger related expenses and the impact of net gain on sale of RCM assets for 1Q 05.

Focus on Efficiency

(1)

(1)

Third consecutive quarter of revenue growth outpacing expense growth.

21

EPS Growth Back on Track

EPS ⁽¹⁾

(1)

EPS as originally reported and adjusted for stock splits.  There are no adjustments for merger pooling.

(2)

CAGR and growth based on GAAP EPS excluding merger-related charges.

GAAP EPS

Reduction in EPS due to
merger-related charges

CAGR ⁽²⁾ = 10.1%

Operating EPS

Growth⁽²⁾ = 9.4%

22

LOB Goals in 2005

  RETAIL

Focus on growing branch network over the next 3 years in high-growth markets
with specific emphasis on Wal-Mart opportunities

Leverage the merger with NCF to capture market share in new markets

  COMMERCIAL

Improve yields and spreads on loan transactions through improved profit modeling
and pricing governance

Sustain market share gains through continued emphasis on strategic dialogue with
clients, service excellence and industry specialization competencies

  CORPORATE AND INVESTMENT BANKING

Continue to enhance capital markets sales into Commercial and Wealth &
Investment Management client base

Increase the number of ‘intersection’ sectors and clients where our client
coverage, balance sheet, equity research and product expertise intersect.

23

LOB Goals in 2005

  WEALTH & INVESTMENT MANAGEMENT

Partner with Retail to improve penetration rate of mortgages with the SunTrust
client base and the sale of products to mortgage borrowers

Continue to strengthen product offerings and distribution capabilities

  MORTGAGE

Integrate successful Private Banking units into Private Wealth Management for a
more comprehensive approach to Wealth Management

Aggressively expand and retain SunTrust share of emerging wealth segments

24

Long Term Growth Initiatives

25

SunTrust Today

Our foundation is firmly in place:

Fully functioning operating model with clear allocation of responsibilities

Key components of sales organization in place:  weekly sales meetings,
sales and referral goals and linked incentives

We have clear strategy and focused initiatives to drive performance:

Deliver “Big Bank” capabilities with local decision making and
responsiveness

Focus on customer acquisition and retention

Drive cross-LOB referrals

Key initiatives are generating tangible results

26

APPENDIX

27

Average Loan Growth

Commercial

RE Commercial

RE Construction

RE Comm. & Const.

Mortgages

Direct

Indirect

Consumer

Real Estate Equity

Business Credit Card

Nonaccrual and
Restructured

Total Loans

4Q 2004

1Q 2004

($ in millions)

17/24%

3%

112%

38%

32%

92%

(4)%

24%

63%

41%

(16)%

29/32%

$33,423.9

9,537.0

9,621.2

19,158.2

23,435.7

6,767.2

8,384.4

15,151.6

11,573.7

197.7

275.0

$103,215.8

$32,223.1

9,547.2

9,054.6

18,601.8

22,461.0

6,706.9

8,661.6

15,368.5

11,016.4

192.6

274.1

$100,137.5

1Q 2005

$28,464.1

9,295.0

4,546.3

13,841.3

17,758.0

3,533.1

8,727.4

12,260.5

7,111.8

140.0

329.2

$79,904.9

15%

flat

25%

12%

18%

4%

(13)%

(6)%

20%

10%

1%

   12%

 (1)  The addition of direct and indirect.

 (2)  Higher growth rate adjusted for consolidation of Three Pillars.

(2)

1Q2005:
1Q2004

1Q05:4Q04

3/8%

9%

25%

1%

31%

28%

11/13%

1Q2005:
1Q2004

Est. Historical
Combined

(1)

(2)

(2)

Reported

Annualized

(2)

28

Average Customer Deposit Growth

DDA

NOW

MMA

SAV

CDs

Total ⁽¹⁾

Total low cost
deposits⁽²⁾

4Q 2004

1Q 2004

($ in millions)

26%

42%

12%

19%

64%

29%

30%

$23,723.1

17,479.8

24,767.4

7,506.9

17,490.6

$90,967.8

$48,709.8

$18,896.7

12,332.1

22,136.8

6,334.2

10,661.2

$70,361.0

$37,563.0

(1)

Average quarterly Consumer and Commercial Deposits (excludes Broker & Foreign Deposits).

(2)

Total of DDA, NOW, Savings.

1Q 2005

$24,181.7

16,940.7

24,507.0

8,139.3

16,832.7

$90,601.4

$49,261.7

11%

21%

3%

(7)%

12%

9%

11%

1Q2005:
1Q2004

1Q05:4Q04

(8)%

13%

4%

(31)%

16%

2%

(4)%

1Q2005:
1Q2004

Est. Historical
Combined

Reported

Annualized

29

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES

				Quarter - - to - Quarter Comparison
				1st Quarter 2005				4th Quarter 2004				3rd Quarter 2004				2nd Quarter 2004				1st Quarter 2004
NON-GAAP MEASURES PRESENTED
(Dollars in thousands)
Net income				$	492,294			$	455,729			$	368,766			$	386,571			$	361,835
Securities losses/(gains), net of tax					3,509				12,595				11,825				5,881				(3,203	)
Net income excluding securities gains and losses					495,803				468,324				380,591				392,452				358,632
The Coca-Cola Company dividend, net of tax					(12,028	)			(10,739	)			(10,740	)			(10,739	)			(10,740	)
Net income excluding securities gains and losses and The Coca-Cola Company dividend				$	483,775			$	457,585			$	369,851			$	381,713			$	347,892
Total average assets				$	161,218,222			$	156,570,092			$	127,127,968			$	127,287,458			$	123,853,747
Average net unrealized securities gains					(2,032,787	)			(2,056,737	)			(2,054,978	)			(2,803,917	)			(2,580,304	)
Average assets less net unrealized securities gains				$	159,185,435			$	154,513,355			$	125,072,990			$	124,483,541			$	121,273,443
Total average equity				$	16,119,430			$	15,818,968			$	9,992,905			$	10,194,201			$	9,840,282
Average accumulated other comprehensive income					(1,285,278	)			(1,304,553	)			(1,318,332	)			(1,804,833	)			(1,645,712	)
Total average realized equity				$	14,834,152			$	14,514,415			$	8,674,573			$	8,389,368			$	8,194,570
Return on average total assets					1.24	%			1.16	%			1.15	%			1.22	%			1.18	%
Impact of excluding net realized and unrealized securities gains/losses and The Coca-Cola Company dividend					(0.01	)			0.02				0.03				0.01				(0.03	)
Return on average total assets less net unrealized securities gains1					1.23	%			1.18	%			1.18	%			1.23	%			1.15	%
Return on average total shareholders' equity					12.39	%			11.46	%			14.68	%			15.25	%			14.79	%
Impact of excluding net unrealized securities gains					0.84				1.08				2.28				3.05				2.28
Return on average realized shareholders' equity2					13.23	%			12.54	%			16.96	%			18.30	%			17.07	%
Net interest income				$	1,111,560			$	1,084,204			$	876,874			$	872,429			$	851,648
FTE adjustment					17,666				16,684				16,821				12,637				12,256
Net interest income – FTE					1,129,226				1,100,888				893,695				885,066				863,904
Noninterest income					753,814				759,003				627,692				622,665				595,086
Total revenue					1,883,040				1,859,891				1,521,387				1,507,731				1,458,990
Securities losses/(gains)					5,659				19,377				18,193				9,048				(4,927	)
Gain on sale of RCM assets, net of related expenses					(19,874	)			—				—				—				—
Total revenue excluding securities gains and losses and net gain on sale of RCM assets3				$	1,868,825			$	1,879,268			$	1,539,580			$	1,516,779			$	1,454,063

				Quarter - - to - Quarter Comparison
				1st Quarter 2005				4th Quarter 2004				Change %4				1st Quarter 2005				1st Quarter 2004				Change %
AVERAGE LOW COST CONSUMER AND COMMERCIAL DEPOSIT RECONCILEMENT
(Dollars in thousands)
Noninterest bearing deposits				$	23,723,080			$	24,181,729				(1.9	)		$	23,723,080			$	18,896,711				25.5
NOW accounts					17,479,848				16,940,751				3.2				17,479,848				12,332,083				41.7
Savings					7,506,923				8,139,263				(7.8	)			7,506,923				6,334,231				18.5
Total average low cost consumer and commercial deposits				$	48,709,851			$	49,261,743				(1.1	)		$	48,709,851			$	37,563,025				29.7

																Estimated Historical Combined6
				1st Quarter 2005				1st Quarter 2004				Change %				1st Quarter 2005				1st Quarter 2004				Change %
NON-GAAP DISCLOSURES FOR IMPACTS OF THREE PILLARS5
(Dollars in millions)
Average loans – reported				$	103,216			$	79,905				29.2			$	103,216			$	93,145				10.8
Impact of Three Pillars					—				(1,430	)			(100.0	)			—				(1,430	)			(100.0	)
Average loans excluding Three Pillars				$	103,216			$	78,475				31.5			$	103,216			$	91,715				12.5
Average commercial loans – reported				$	33,424			$	28,464				17.4			$	33,518			$	32,598				2.8
Impact of Three Pillars					—				(1,430	)			(100.0	)			—				(1,430	)			(100.0	)
Average commercial loans excluding Three Pillars				$	33,424			$	27,034				23.6			$	33,518			$	31,168				7.5

1

SunTrust presents a return on average assets less net unrealized gains on securities. The foregoing numbers reflect primarily adjustments to remove the effects of the Company's securities portfolio which includes the ownership by the Company of 48.3 million shares of The Coca-Cola Company. The Company uses this information internally to gauge its actual performance in the industry. The Company believes that the return on average assets less the net unrealized securities gains is more indicative of the Company's return on assets because it more accurately reflects the return on the assets that are related to the Company's core businesses which are primarily customer relationship and customer transaction driven. The return on average assets less net unrealized gains on securities is computed by dividing annualized net income, excluding securities gains/losses and The Coca-Cola Company dividend, by average assets less net unrealized securities gains.

2

The Company also believes that the return on average realized equity is more indicative of the Company's return on equity because the excluded equity relates primarily to a long term holding of a specific security. The return on average realized shareholders' equity is computed by dividing annualized net income, excluding securities gains/losses and The Coca-Cola Company dividend, by average realized shareholders' equity.

3

SunTrust presents total revenue excluding realized securities gains and losses and the net gain on the sale of RCM assets. The Company believes total revenue without securities gains and losses is more indicative of the Company's performance because it isolates income that is primarily customer relationship and customer transaction driven. SunTrust further excludes the net gain on the sale of RCM assets because the Company believes the exclusion of the net gain is more indicative of normalized operations.

4	Multiply by 4 to calculate sequential annualized growth or reductions discussed in the earnings call.

5	Under the provisions of FASB Interpretation No. 46, SunTrust consolidated its commercial paper conduit, Three Pillars, effective July 1, 2003. As of March 1, 2004, Three Pillars was restructured and deconsolidated. Adjustments were made to reported figures for comparability purposes.

6	SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES

				1st Quarter 2005				4th Quarter 2004
SELECTED NON-GAAP OPERATING MEASURES AND ADJUSTED OPERATING MEASURES1
(Dollars in thousands)
Net income				$	492,294			$	455,729
Merger expense, net of tax					15,958				18,461
Operating net income					508,252			$	474,190
Net gain on sale of RCM assets, net of tax					(12,322	)			—
Adjusted operating net income				$	495,930			$	474,190
Diluted earnings per share				$	1.36			$	1.26
Impact of excluding merger expense					0.04				0.05
Operating diluted earnings per share					1.40				1.31
Impact of net gain on sale of RCM assets					(0.03	)			—
Adjusted operating diluted earnings per share				$	1.37			$	1.31
Total revenue				$	1,883,040
Securities losses					5,659
Net gain on sale of RCM assets					(19,874	)
Adjusted total revenue				$	1,868,825
Noninterest income				$	753,814
Net gain on sale of RCM assets					(19,874	)
Noninterest income excluding net gain on sale of RCM assets				$	733,940
Noninterest expense				$	1,133,906			$	1,148,992
Merger expense					(25,738	)			(28,401	)
Noninterest expense excluding merger expense				$	1,108,168			$	1,120,591
Efficiency ratio					60.22	%			61.78	%
Impact of excluding merger expense					(1.37	)			(1.53	)
Operating efficiency ratio					58.85	%			60.25	%
Impact of net gain on sale of RCM assets					0.63				—
Adjusted operating efficiency ratio					59.48	%			60.25	%
Return on average total assets					1.24	%			1.16	%
Impact of excluding merger expense					0.04				0.04
Operating return on average total assets2					1.28	%			1.20	%
Return on average total shareholders' equity					12.39	%			11.46	%
Impact of excluding merger expense					0.40				0.47
Operating return on average total shareholders' equity3					12.79	%			11.93	%

1

SunTrust presents selected financial data on an operating basis that excludes merger charges, which represent incremental costs to integrate NCF's operations. The Company also presents selected financial data on an adjusted operating basis, which further excludes the net gain related to the sale of RCM assets. The Company believes the exclusion of these two measures is more reflective of normalized operations.

2	Computed by dividing annualized operating net income by average total assets.

3	Computed by dividing annualized operating net income by average total shareholders' equity.

SunTrust Banks, Inc. and Subsidiaries
QUARTER-TO-QUARTER COMPARISON – ACTUAL AND HISTORICAL COMBINED GROWTH

The 1st quarter 2004 figures represent SunTrust and NCF on a historical combined basis. See next page for a reconcilement of these historical combined amounts.

				ACTUAL																				HISTORICAL COMBINED
				1st Quarter 2005				4th quarter 2004				Increase/(Decrease)								Sequential Annualized %				1st Quarter 2005				1st Quarter 2004				Increase/(Decrease)
												Amount				%																Amount				%
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME				$	1,111,560			$	1,084,204			$	27,356				2.5	%			10.1	%		$	1,111,560			$	1,042,719			$	68,841				6.6	%
Provision for loan losses					10,556				37,099				(26,543	)			(71.5	)			(286.2	)			10,556				65,925				(55,369	)			(84.0	)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES					1,101,004				1,047,105				53,899				5.1				20.6				1,101,004				976,794				124,210				12.7
NONINTEREST INCOME
Deposit and other fees1					343,634				356,777				(13,143	)			(3.7	)			(14.7	)			343,634				337,122				6,512				1.9
Trust and investment management income					164,515				160,526				3,989				2.5				9.9				164,515				152,716				11,799				7.7
Broker / dealer revenue2					149,196				158,888				(9,692	)			(6.1	)			(24.4	)			149,196				145,703				3,493				2.4
Other noninterest income					82,254				102,189				(19,935	)			(19.5	)			(78.0	)			82,254				63,638				18,616				29.3
Noninterest income before securities (losses)/gains and net gain on sale of RCM assets3					739,599				778,380				(38,781	)			(5.0	)			(19.9	)			739,599				699,179				40,420				5.8
Gain on sale of RCM assets, net of related expenses					19,874				—				19,874				100.0				400.0				19,874				—				19,874				100.0
Noninterest income before securities (losses)/gains					759,473				778,380				(18,907	)			(2.4	)			(9.7	)			759,473				699,179				60,294				8.6
Securities (losses)/gains					(5,659	)			(19,377	)			13,718				70.8				283.2				(5,659	)			15,845				(21,504	)			(135.7	)
Total noninterest income					753,814				759,003				(5,189	)			(0.7	)			(2.7	)			753,814				715,024				38,790				5.4
NONINTEREST EXPENSE
Personnel expense					634,793				612,861				21,932				3.6				14.3				634,793				585,917				48,876				8.3
Net occupancy expense					75,851				78,218				(2,367	)			(3.0	)			(12.1	)			75,851				75,266				585				0.8
Outside processing and software					82,848				81,368				1,480				1.8				7.3				82,848				72,216				10,632				14.7
Equipment expense					52,882				50,765				2,117				4.2				16.7				52,882				52,318				564				1.1
Marketing and customer development					31,629				34,389				(2,760	)			(8.0	)			(32.1	)			31,629				33,248				(1,619	)			(4.9	)
Other noninterest expense					198,948				231,231				(32,283	)			(14.0	)			(55.8	)			198,948				205,230				(6,282	)			(3.1	)
Noninterest expense before amortization of intangible assets and merger expense4					1,076,951				1,088,832				(11,881	)			(1.1	)			(4.4	)			1,076,951				1,024,195				52,756				5.2
Amortization of intangible assets					31,217				31,759				(542	)			(1.7	)			(6.8	)			31,217				29,279				1,938				6.6
Merger expense					25,738				28,401				(2,663	)			(9.4	)			(37.5	)			25,738				—				25,738				100.0
Total noninterest expense					1,133,906				1,148,992				(15,086	)			(1.3	)			(5.3	)			1,133,906				1,053,474				80,432				7.6
INCOME BEFORE INCOME TAXES					720,912				657,116				63,796				9.7				38.8				720,912				638,344				82,568				12.9
Provision for income taxes					228,618				201,387				27,231				13.5				54.1				228,618				186,265				42,353				22.7

				ACTUAL																				HISTORICAL COMBINED
				1st Quarter 2005				4th quarter 2004				Increase/(Decrease)								Sequential Annualized %				1st Quarter 2005				1st Quarter 2004				Increase/(Decrease)
												Amount				%																Amount				%
NET INCOME					492,294				455,729				36,565				8.0				32.1				492,294				452,079				40,215				8.9
Merger expense, net of tax					15,958				18,461				(2,503	)			(13.6	)			(54.2	)			15,958				—				15,958				100.0
OPERATING NET INCOME					508,252				474,190				34,062				7.2				28.7				508,252				452,079				56,173				12.4
Net gain on sale of RCM assets, net of tax					(12,322	)			—				(12,322	)			100.0				400.0				(12,322	)			—				(12,322	)			100.0
ADJUSTED OPERATING NET INCOME				$	495,930			$	474,190			$	21,740				4.6	%			18.3	%		$	495,930			$	452,079			$	43,851				9.7	%
REVENUE (Dollars in thousands)
Net interest income				$	1,111,560			$	1,084,204			$	27,356				2.5	%			10.1	%		$	1,111,560			$	1,042,719			$	68,841				6.6	%
FTE adjustment5					17,666				16,684				982				5.9				23.5				17,666				14,361				3,305				23.0
Net interest income – FTE					1,129,226				1,100,888				28,338				2.6				10.3				1,129,226				1,057,080				72,146				6.8
Noninterest income					753,814				759,003				(5,189	)			(0.7	)			(2.7	)			753,814				715,024				38,790				5.4
Total revenue					1,883,040				1,859,891				23,149				1.2				5.0				1,883,040				1,772,104				110,936				6.3
Securities losses/(gains)					5,659				19,377				(13,718	)			(70.8	)			(283.2	)			5,659				(15,845	)			21,504				135.7
Net gain on sale of RCM assets					(19,874	)			—				(19,874	)			100.0				400.0				(19,874	)			—				(19,874	)			100.0
Total revenue excluding securities gains and losses and net gain on sale of RCM assets				$	1,868,825			$	1,879,268				($10,443	)			(0.6	)%			(2.2	)%		$	1,868,825			$	1,756,259			$	112,566				6.4	%
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans6
Commercial				$	33,518			$	32,343			$	1,175				3.6	%			14.5	%		$	33,518			$	32,598			$	920				2.8	%
Real estate 1-4 family					23,527				22,535				992				4.4				17.6				23,527				18,804				4,723				25.1
Real estate commercial and construction					19,224				18,660				564				3.0				12.1				19,224				17,670				1,554				8.8
Real estate equity					11,574				11,016				558				5.1				20.3				11,574				8,844				2,730				30.9
Consumer7					15,175				15,390				(215	)			(1.4	)			(5.6	)			15,175				15,074				101				0.7
Credit cards					198				193				5				2.4				9.6				198				155				43				27.7
Total loans				$	103,216			$	100,137			$	3,079				3.1	%			12.3	%		$	103,216			$	93,145			$	10,071				10.8	%
Average deposits
Noninterest bearing deposits				$	23,723			$	24,182				($459	)			(1.9	)%			(7.6	)%		$	23,723			$	21,412			$	2,311				10.8
NOW accounts					17,480				16,941				539				3.2				12.7				17,480				14,494				2,986				20.6
Money market accounts					24,767				24,507				260				1.1				4.2				24,767				24,071				696				2.9
Savings					7,507				8,139				(632	)			(7.8	)			(31.1	)			7,507				8,054				(547	)			(6.8	)
Consumer and other time					17,491				16,832				659				3.9				15.7				17,491				15,575				1,916				12.3
Total consumer and commercial deposits					90,968				90,601				367				0.4				1.6				90,968				83,606				7,362				8.8
Brokered and foreign deposits					13,424				10,671				2,753				25.8				103.2				13,424				12,292				1,132				9.2
Total deposits				$	104,392			$	101,272			$	3,120				3.1	%			12.3	%		$	104,392			$	95,898			$	8,494				8.9	%
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans				$	337,057			$	354,241				($17,184	)			(4.9	)%			(19.4	)%		$	337,057			$	318,643			$	18,414				5.8	%
Restructured loans					20,071				19,049				1,022				5.4				21.5				20,071				18,661				1,410				7.6
Total nonperforming loans					357,128				373,290				(16,162	)			(4.3	)			(17.3	)			357,128				337,304				19,824				5.9
Other real estate owned (OREO)					27,555				28,619				(1,064	)			(3.7	)			(14.9	)			27,555				41,605				(14,050	)			(33.8	)
Other repossessed assets					7,662				8,749				(1,087	)			(12.4	)			(49.7	)			7,662				17,061				(9,399	)			(55.1	)
Total nonperforming assets				$	392,345			$	410,658				($18,313	)			(4.5	)%			(17.8	)%		$	392,345			$	395,970				($3,625	)			(0.9	)%
Allowance for loan and lease losses					($1,023,746	)			($1,050,024	)		$	26,278				(2.5	)%			(10.0	)%			($1,023,746	)			($1,110,356	)		$	86,610				(7.8	)

1	Includes service charges on deposits, card and other charges and fees.

2	Includes retail investment services, investment banking income and trading account profits and commissions.

3

SunTrust presents noninterest income before securities (losses)/gains and the net gain on the sale of RCM assets. The Company believes noninterest income before securities gains and losses is more indicative of the Company's performance because it isolates income that is primarily customer relationship and customer transaction driven. SunTrust further excludes the net gain on the sale of RCM assets because the Company believes the exclusion of the net gain provides better comparability and is more indicative of normalized operations.

4	The Company presents noninterest expense before amortization of intangible assets and merger expense. The Company believes the exclusion of these measures provides better comparability and is more reflective of normalized operations.

5	NCF's FTE adjustments were reduced $4,712 from the first quarter of 2004 to conform to SunTrust's methodology.

6	SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.

7	Includes consumer direct and consumer indirect loans.

SunTrust Banks, Inc. and Subsidiaries
SUNTRUST / NCF – SELECTED HISTORICAL FINANCIAL DATA

				1st Quarter 2004
				SunTrust				NCF				Pro Forma Combined
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME				$	851,648			$	191,071			$	1,042,719
Provision for loan losses					53,837				12,088				65,925
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES					797,811				178,983				976,794
NONINTEREST INCOME
Deposit and other fees1					287,659				49,463				337,122
Trust and investment management income					136,218				16,498				152,716
Broker / dealer revenue2					119,941				25,762				145,703
Other noninterest income					46,341				17,297				63,638
Noninterest income before securities (losses)/gains					590,159				109,020				699,179
Securities gains					4,927				10,918				15,845
Total noninterest income					595,086				119,938				715,024
NONINTEREST EXPENSE
Personnel expense					506,796				79,121				585,917
Net occupancy expense					61,859				13,407				75,266
Outside processing and software					65,626				6,590				72,216
Equipment expense					45,085				7,233				52,318
Marketing and customer development					30,219				3,029				33,248
Other noninterest expense					164,523				40,707				205,230
Noninterest expense before amortization of intangible assets					874,108				150,087				1,024,195
Amortization of intangible assets					15,640				13,639				29,279
Total noninterest expense					889,748				163,726				1,053,474
INCOME BEFORE INCOME TAXES					503,149				135,195				638,344
Provision for income taxes					141,314				44,951				186,265
NET INCOME				$	361,835			$	90,244			$	452,079
REVENUE (Dollars in thousands)
Net interest income				$	851,648			$	191,071			$	1,042,719
FTE adjustment3					12,256				2,105				14,361
Net interest income – FTE					863,904				193,176				1,057,080
Noninterest income					595,086				119,938				715,024
Total revenue					1,458,990				313,114				1,772,104
Securities (gains)					(4,927	)			(10,918	)			(15,845	)
Total revenue excluding securities gains and losses				$	1,454,063			$	302,196			$	1,756,259

				1st Quarter 2004
				SunTrust				NCF				Pro Forma Combined
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans4
Commercial				$	28,599			$	3,999			$	32,598
Real estate 1-4 family					17,850				954				18,804
Real estate commercial and construction					13,910				3,760				17,670
Real estate equity					7,112				1,732				8,844
Consumer 5					12,294				2,780				15,074
Credit cards					140				15				155
Total loans				$	79,905			$	13,240			$	93,145
Average deposits
Noninterest bearing deposits				$	18,897			$	2,515			$	21,412
NOW accounts					12,332				2,162				14,494
Money market accounts					22,137				1,934				24,071
Savings					6,334				1,720				8,054
Consumer and other time					10,661				4,914				15,575
Total consumer and commercial deposits					70,361				13,245				83,606
Brokered and foreign deposits					10,001				2,291				12,292
Total deposits				$	80,362			$	15,536			$	95,898
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans				$	283,918			$	34,725			$	318,643
Restructured loans					18,661				—				18,661
Total nonperforming loans					302,579				34,725				337,304
Other real estate owned (OREO)					18,380				23,225				41,605
Other repossessed assets					10,953				6,108				17,061
Total nonperforming assets				$	331,912			$	64,058			$	395,970
Allowance for loan and lease losses					($936,972	)			($173,384	)			($1,110,356	)

1	Includes service charges on deposits, card and other charges and fees.

2	Includes retail investment services, investment banking income and trading account profits and commissions.

3	NCF's FTE adjustments were reduced $4,712 from the 1st quarter of 2004 to conform to SunTrust methodology.

4	SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.

5	Includes consumer direct and consumer indirect loans.