EX-99.1 4 file002.htm PRESS RELEASE

Exhibit 99.1

News Release

For Immediate Release
January 18, 2006

SunTrust Reports Fourth Quarter and Full — Year 2005 Earnings
Company Wraps Up Year of Strong Growth

ATLANTA — SunTrust Banks, Inc. (NYSE: STI) today reported net income for the fourth quarter of 2005 of $513.8 million, up 13% from the fourth quarter of 2004. Net income per diluted share was $1.41, up 12% from the fourth quarter of 2004. Net income per diluted share excluding merger expense was $1.43, up 9% from the fourth quarter of 2004. Net income excluding merger expense excludes $4.1 million of after-tax merger charges incurred in the fourth quarter of 2005 associated with SunTrust’s acquisition of National Commerce Financial Corporation (‘‘NCF’’), which closed on October 1, 2004. For the full year 2005, the Company reported net income of $1,982.6 million, up from $1,572.9 million earned in the same period in 2004. Net income per diluted share was $5.45, up from $5.19 earned in the same period in 2004. Net income per diluted share excluding merger expense was $5.62 for the full year 2005, up 7% from the same period in 2004, despite the dilution effect from the NCF merger.

‘‘We’re pleased to report that the Company ended the year with another quarter of solid results, in particular net income and EPS growth. The performance-oriented business strategies we have been implementing over the past year continued to translate into significant loan and solid deposit growth. These strategies helped drive strong year-over-year revenue expansion that, coupled with continued effectiveness in expense control, resulted in positive operating leverage for 2005,’’ L. Phillip Humann, chairman and CEO of SunTrust noted. Revenue growth was 7% while core expense growth was only 4% for 2005 on an estimated historical combined basis. Mr. Humann also noted that credit quality trends continue to run better than historical experience and actually improved during the fourth quarter compared to the third quarter, with improvements experienced in key credit measures such as net charge-offs and nonperforming assets.

Discussion of Historical Results and Estimated Historical Combined Results

In order to assist investors with comparing the financial results of the now-combined SunTrust and NCF, estimated historical combined information for the full year of 2004 is presented as if the merger had been completed at the beginning of the period presented. In management’s view, the estimated historical combined financial results assist investors in better understanding the comparative performance and underlying growth dynamics of the combined Company. For further information regarding the estimated historical combined financial information, including reconciliations of certain financial information, please see Appendix B. Financial results for the fourth quarter 2004 and forward are presented on an actual historical basis as the acquisition of NCF was completed on October 1, 2004.

Fourth Quarter 2005 Summary:


	4^th Quarter 2005			4^th Quarter 2004			Reported % Change
Income Statement (Dollars in millions except per share data)
Net income	$	513.8		$	455.7			13	%
Net income excluding merger expense (1)		517.9			474.2			9	%
Net income per diluted share		1.41			1.26			12	%
Net income per diluted share excluding merger expense (2)		1.43			1.31			9	%
Revenue		1,997.5			1,859.9			7	%
Noninterest expense		1,206.9			1,149.0			5	%
Noninterest expense before Affordable Housing impairment charges, amortization of intangible assets and merger expense		1,164.1			1,088.8			7	%
Efficiency ratio		60.42	%		61.78	%
Efficiency ratio excluding merger expense (3)		60.09	%		60.25	%
Balance Sheet (Dollars in billions)
Average loans	$	113.8		$	100.1			14	%
Average customer deposits		95.3			90.6			5	%
Asset Quality (Dollars in millions)
Net charge-offs to average loans		0.17	%		0.21	%
Net charge-offs	$	49.9		$	53.9			(7	)%


•	Total average loans increased 14% and total average consumer and commercial deposits increased 5% from the fourth quarter of 2004 reflecting the effectiveness of SunTrust’s company-wide sales focus.


•	Net income increased 13% from the fourth quarter of 2004 and net income excluding merger expense increased 9%. Net income excluding merger expense increased 11% in 2005 over 2004 on an estimated historical combined basis.


•	Total revenue increased 7% from the fourth quarter of 2004 driven by fully taxable net interest income growth of 10% and noninterest income growth of 4%. For the full year, revenue grew 7% over 2004 on an estimated historical combined basis.

•

Noninterest expense before Affordable Housing impairment charges, amortization of intangible assets and merger expense increased 7% from the fourth quarter of 2004. For the full year, noninterest expense before Affordable Housing impairment charges, amortization of intangible assets and merger expense grew only 4% over 2004 on an estimated historical combined basis, the result of the continued focus on expense management and realization of cost savings related to the NCF merger.


•	Cost savings related to the NCF merger totaled $98 million for 2005, which exceeded the original estimate by 28%.

•

Revenue growth combined with expense management throughout 2005 led to positive operating leverage for the year and improvement in the efficiency ratio. The efficiency ratio for the fourth quarter of 2005 was 60.42%, a 136 basis point decrease from the fourth quarter of 2004. The efficiency ratio excluding merger expense was 60.09%, a 16 basis point decrease from the fourth quarter of 2004. The efficiency ratio excluding merger expense was 58.86% for 2005, a 140 basis point decrease from 2004 on an estimated historical combined basis.


•	Net charge-offs were 0.17% of average loans, down from 0.21% of average loans in the fourth quarter of 2004.


(1)	Excludes 4th quarter 2005 and 2004 merger expense, net of taxes, which totaled $4.1 million and $18.5 million, respectively.


(2)	Excludes 4th quarter 2005 and 2004 merger expense, net of taxes, per diluted share of $0.02 and $0.05, respectively.


(3)	Excludes 4th quarter 2005 and 2004 pretax merger expense of $6.5 million and $28.4 million, respectively, which had the effect of reducing the efficiency ratio by 33 basis points and 153 basis points, respectively.

FINANCIAL PERFORMANCE

Revenue

Total revenue was $1,997.5 million for the fourth quarter of 2005, up 7% from the fourth quarter of 2004. Revenue growth was driven by increases in both net interest income and noninterest income.

For the full year 2005, total revenue was $7,802.0 million, up from $6,348.0 million for the same period in 2004. Total revenue was up 7% from the full year 2004 on an estimated historical combined basis. Revenue growth for the full year 2005 was also driven by increases in both net interest income and noninterest income.

Net Interest Income

Fully taxable net interest income was $1,207.1 million in the fourth quarter of 2005, up 10% from the fourth quarter of 2004. The primary factor driving the net interest income growth year-over-year has been strong loan growth. Loans have grown 14% on average from the fourth quarter of 2004. The net interest margin of 3.10% for the fourth quarter of 2005 was down two basis points from the third quarter of 2005 primarily due to an increase in loans held for sale at a compressed margin. Loans held for sale increased by $3.4 billion on average, or 40%, in the fourth quarter from the third quarter of 2005, driven mainly by record mortgage volume from the third quarter. Although the net interest margin declined in the fourth quarter of 2005, fully taxable net interest income increased $31.3 million, or 11%, in the fourth quarter compared to the third quarter of 2005 on a sequential annualized basis.

For the full year 2005, fully taxable net interest income was $4,654.5 million, up from $3,743.6 million for the same period in 2004. For the full year 2005, fully taxable net interest income was up 7% from the same period in 2004 on an estimated historical combined basis.

Noninterest Income

Total noninterest income was $790.4 million for the fourth quarter of 2005, up 4% from the fourth quarter of 2004. The increase in noninterest income resulted from growth in mortgage related income, trust and investment management income and card fees.

For the full year 2005, noninterest income was $3,147.6 million, up from $2,604.4 million for the same period in 2004. For the full year 2005, noninterest income was up 6% from the same period in 2004 on an estimated historical combined basis, with the drivers being the same as noted for the fourth quarter increase.

Noninterest Expense

Total noninterest expense in the fourth quarter of 2005 was $1,206.9 million, up 5% from the fourth quarter of 2004. Total noninterest expense before Affordable Housing impairment charges, amortization of intangible assets and merger expense was up 7% from the fourth quarter of 2004.

For the full year 2005, total noninterest expense was $4,690.7 million, up from $3,897.0 million for the same period of 2004. Total noninterest expense before Affordable Housing impairment charges, amortization of intangible assets and merger expense was up 4% for the full year 2005 from the same period of 2004 on an estimated historical combined basis, demonstrating overall effective cost control and the realization of cost savings related to the NCF merger. The cost savings related to the NCF merger totaled $36 million in the fourth quarter of 2005, bringing the total cost savings to $98 million for 2005, which exceeded the original estimate of $76 million by 28%.

The revenue growth noted earlier, coupled with the successful cost controls in 2005, led to positive operating leverage and improvement in the Company’s efficiency ratio measures. The reported efficiency ratio was 60.42% for the fourth quarter of 2005 compared to 61.78% for the fourth quarter of 2004, an improvement of 136 basis points. The efficiency ratio excluding merger expense was 60.09% which compares favorably to the fourth quarter 2004 efficiency ratio excluding merger expense of 60.25%.

Balance Sheet

At December 31, 2005, SunTrust had total assets of $179.7 billion. Shareholders’ equity of $16.9 billion represented 9% of total assets. Book value per share was $46.64, up from $46.28 as of September 30, 2005.

Loans

Average loans for the fourth quarter of 2005 were $113.8 billion, up 14% from the fourth quarter of 2004. On a sequential annualized basis, average loans grew 11% from the third quarter to the fourth quarter of 2005. Areas of strongest growth in consumer lending were residential real estate and home equity. In commercial lending, loan growth was moderate to strong across most categories.

Deposits

Average consumer and commercial deposits for the fourth quarter of 2005 were $95.3 billion, up 5% from the fourth quarter of 2004. On a sequential annualized basis, average consumer and commercial deposits grew 5% from the third quarter of 2005. Time deposit growth was particularly strong in the fourth quarter, followed by growth in NOW and DDA accounts.

Asset Quality

Several key asset quality measures improved in the fourth quarter compared to the third quarter of 2005, resulting in improvement in measures the Company already believes compare very favorably with published industry averages.

Net charge-offs in the fourth quarter of 2005 were 0.17% of average loans, down from 0.27% of average loans in the third quarter of 2005, and 0.21% of average loans in the fourth quarter of 2004. Net charge-offs were $49.9 million in the fourth quarter of 2005 compared to $76.7 million in the third quarter of 2005. Nonperforming assets decreased from $362.7 million, or 0.32% of loans, other real estate owned and other repossessed assets at September 30, 2005 to $334.2 million, or 0.29% of loans, other real estate owned and other repossessed assets at December 31, 2005.

The allowance for loan and lease losses decreased slightly to $1,028.1 million at December 31, 2005 from $1,029.9 million at September 30, 2005. Provision expense decreased from $70.4 million in the third quarter of 2005 to $48.1 million in the fourth quarter of 2005. The allowance for loan and lease losses at December 31, 2005 represented 0.90% of loans, a slight decrease from 0.92% at September 30, 2005. The allowance for loan and lease losses at December 31, 2005 represented 346.9% of nonperforming loans, an increase from 312.4% at September 30, 2005.

Corresponding Financial Tables and Information

To view the corresponding financial tables and information, please refer to the Investor Relations section located under ‘‘About SunTrust’’ on our Web site at www.suntrust.com. This information may also be directly accessed via the quick link entitled ‘‘4th Quarter Earnings Release’’ on the SunTrust homepage.

Conference Call

SunTrust management will host a conference call on January 18, 2006 at 8:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Individuals are encouraged to call in beginning at 7:45 a.m. (Eastern Time) by dialing 1-888-972-7805 (Passcode: 4Q05; Leader: Greg Ketron). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 4Q05; Leader: Greg Ketron). A replay of the call will be available beginning January 18, 2006 and ending February 1, 2006 at midnight (Eastern Time) by dialing 1-866-470-8793 (domestic) or 1-203-369-1493 (international).

Alternatively, individuals may listen to the live webcast of the presentation by visiting the SunTrust Web site at www.suntrust.com. The webcast will be hosted under ‘‘Investor Relations’’

located under ‘‘About SunTrust’’ or may be accessed directly from the SunTrust home page by clicking on the earnings-related link, ‘‘4th Quarter Earnings Release’’. Beginning the afternoon of January 18, 2006, listeners may access an archived version of the presentation in the ‘‘Webcasts and Presentations’’ subsection found under ‘‘Investor Relations’’. A link to the Investor Relations page is also found in the footer of the SunTrust home page.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is www.suntrust.com.

###

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, 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. Factors that could cause SunTrust’s results to differ materially from those described in the forward-looking statements can be found in the Company’s 2004 Annual Report on Form 10-K, in the Quarterly Reports on Form 10-Q and 10-Q/A and in the Current Reports filed on Form 8-K 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 press release 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 press release contains certain non-GAAP measures to describe our Company’s performance. The reconciliation of those measures to the most directly comparable GAAP measures can be found in the financial information contained in the appendices of this press release.

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SunTrust Banks, Inc. and Subsidiaries
FINANCIAL HIGHLIGHTS
(Dollars in millions, except per share data)


	Three Months Ended December 31						% Change			Twelve Months Ended December 31						% Change
	2005			2004			% Change			2005			2004			% Change
EARNINGS & DIVIDENDS
Net income	$	513.8		$	455.7			12.7	%	$	1,982.6		$	1,572.9			26.0	%
Total revenue		1,997.5			1,859.9			7.4			7,802.0			6,348.0			22.9
Total revenue excluding securities gains and losses and net gain on sale of RCM assets ¹		1,996.9			1,879.3			6.3			7,785.8			6,389.7			21.8
Earnings per share
Diluted		1.41			1.26			11.9			5.45			5.19			5.0
Basic		1.43			1.27			12.6			5.52			5.25			5.1
Dividends paid per common share		0.55			0.50			10.0			2.20			2.00			10.0
Average shares outstanding (000s)
Diluted		363,175			362,661			0.1			363,454			303,309			19.8
Basic		359,203			357,524			0.5			359,066			299,375			19.9
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets	$	175,769		$	156,570			12.3	%	$	168,089		$	133,754			25.7	%
Earning assets		154,380			136,450			13.1			147,435			118,906			24.0
Loans		113,828			100,137			13.7			108,742			86,214			26.1
Consumer and commercial deposits		95,257			90,601			5.1			93,355			77,092			21.1
Brokered and foreign deposits		21,010			10,671			96.9			17,052			10,041			69.8
Shareholders' equity		16,876			15,819			6.7			16,526			11,469			44.1
As of
Total assets		179,713			158,870			13.1
Earning assets		157,661			138,727			13.6
Loans		114,555			101,426			12.9
Allowance for loan and lease losses		1,028			1,050			(2.1	)
Consumer and commercial deposits		97,572			92,110			5.9
Brokered and foreign deposits		24,481			11,252			117.6
Shareholders' equity		16,883			15,987			5.6
FINANCIAL RATIOS
Return on average total assets		1.16	%		1.16	%		—	%		1.18	%		1.18	%		—	%
Return on average assets less net unrealized securities gains ¹		1.14			1.18			(3.4	)		1.17			1.19			(1.7	)
Return on average total equity		12.08			11.46			5.4			12.00			13.71			(12.5	)
Return on average realized equity ¹		12.63			12.54			0.7			12.67			15.65			(19.0	)
Total average shareholders' equity to total average assets		9.60			10.10			(5.0	)		9.83			8.58			14.6
Net interest margin ²		3.10			3.21			(3.4	)		3.16			3.15			0.3
Efficiency ratio ²		60.42			61.78			(2.2	)		60.12			61.39			(2.1	)
Book value per share		46.64			44.30			5.3
CAPITAL ADEQUACY
Tier 1 capital ratio		7.00	%³		7.16	%		(2.2	)%
Total capital ratio		10.40	³		10.36			0.4
Tier 1 leverage ratio		6.65	³		6.64			0.2


¹	See Appendix A for a reconcilement of non-GAAP performance measures. "RCM" refers to Receivables Capital Management.


²	The net interest margin and efficiency ratios are presented on a fully taxable-equivalent (FTE) basis. The FTE basis adjusts for the tax-favored status of income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and provides relevant comparison between taxable and non-taxable amounts.


³	Current period tier 1 capital, total capital and tier 1 leverage ratios are estimated as of the press release date.

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER FINANCIAL HIGHLIGHTS
(Dollars in millions, except per share data)


	Three Months Ended
	December 31 2005			September 30 2005			June 30 2005			March 31 2005			December 31 2004
EARNINGS & DIVIDENDS
Net income	$	513.8		$	510.8		$	465.7		$	492.3		$	455.7
Total revenue		1,997.5			2,008.1			1,913.3			1,883.0			1,859.9
Total revenue excluding securities gains and losses and net gain on sale of RCM assets ¹		1,996.9			2,006.7			1,913.4			1,868.8			1,879.3
Earnings per share
Diluted		1.41			1.40			1.28			1.36			1.26
Basic		1.43			1.42			1.30			1.37			1.27
Dividends paid per common share		0.55			0.55			0.55			0.55			0.50
Average shares outstanding (000s)
Diluted		363,175			363,854			363,642			363,138			362,661
Basic		359,203			359,702			359,090			358,253			357,524
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets	$	175,769		$	169,934		$	165,254		$	161,218		$	156,570
Earning assets		154,380			149,282			145,058			140,853			136,450
Loans		113,828			110,818			106,967			103,216			100,137
Consumer and commercial deposits		95,257			94,076			93,065			90,968			90,601
Brokered and foreign deposits		21,010			17,969			15,709			13,424			10,671
Shareholders' equity		16,876			16,823			16,276			16,119			15,819
As of
Total assets		179,713			172,416			168,953			164,811			158,870
Earning assets		157,661			151,469			147,996			143,678			138,727
Loans		114,555			112,411			109,594			104,761			101,426
Allowance for loan and lease losses		1,028			1,030			1,036			1,024			1,050
Consumer and commercial deposits		97,572			94,465			93,814			93,035			92,110
Brokered and foreign deposits		24,481			19,265			15,763			14,499			11,252
Shareholders' equity		16,883			16,718			16,646			16,104			15,987
FINANCIAL RATIOS
Return on average total assets		1.16	%		1.19	%		1.13	%		1.24	%		1.16	%
Return on average assets less net unrealized securities gains ¹		1.14			1.18			1.11			1.23			1.18
Return on average total equity		12.08			12.05			11.48			12.39			11.46
Return on average realized equity ¹		12.63			12.81			12.02			13.23			12.54
Total average shareholders' equity to total average assets		9.60			9.90			9.85			10.00			10.10
Net interest margin ²		3.10			3.12			3.16			3.25			3.21
Efficiency ratio ²		60.42			58.62			61.30			60.22			61.78
Book value per share		46.64			46.28			45.96			44.59			44.30
CAPITAL ADEQUACY
Tier 1 capital ratio		7.00	%³		7.03	%		7.04	%		7.07	%		7.16	%
Total capital ratio		10.40	³		10.66			10.25			10.44			10.36
Tier 1 leverage ratio		6.65	³		6.64			6.65			6.61			6.64


¹	See Appendix A for a reconcilement of non-GAAP performance measures.


²	The net interest margin and efficiency ratios are presented on a fully taxable-equivalent (FTE) basis. The FTE basis adjusts for the tax-favored status of income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and provides relevant comparison between taxable and non-taxable amounts.


³	Current period tier 1 capital, total capital and tier 1 leverage ratios are estimated as of the press release date.

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)


	As of December 31						Increase/(Decrease)
	2005			2004			Amount			%
ASSETS
Cash and due from banks	$	4,659,664		$	3,876,741		$	782,923			20.2	%
Interest-bearing deposits in other banks		332,444			15,929			316,515			1,987.0
Trading assets		2,811,225			2,183,645			627,580			28.7
Securities available for sale ¹		26,525,821			28,941,080			(2,415,259	)		(8.3	)
Funds sold and securities purchased under agreements to resell		1,313,498			1,596,269			(282,771	)		(17.7	)
Loans held for sale		13,695,613			6,580,223			7,115,390			108.1
Loans		114,554,895			101,426,172			13,128,723			12.9
Allowance for loan and lease losses		(1,028,128	)		(1,050,024	)		21,896			(2.1	)
Net loans		113,526,767			100,376,148			13,150,619			13.1
Goodwill		6,835,168			6,806,013			29,155			0.4
Other intangible assets		1,122,967			1,061,451			61,516			5.8
Other assets		8,889,674			7,432,285			1,457,389			19.6
Total assets²	$	179,712,841		$	158,869,784		$	20,843,057			13.1
LIABILITIES
Noninterest-bearing consumer and commercial deposits	$	26,327,663		$	24,878,314		$	1,449,349			5.8	%
Interest-bearing consumer and commercial deposits		71,244,719			67,231,381			4,013,338			6.0
Total consumer and commercial deposits		97,572,382			92,109,695			5,462,687			5.9
Brokered deposits		15,644,932			6,100,911			9,544,021			156.4
Foreign deposits		8,835,864			5,150,645			3,685,219			71.5
Total deposits		122,053,178			103,361,251			18,691,927			18.1
Funds purchased and securities sold under agreements to repurchase		10,374,533			9,342,831			1,031,702			11.0
Other short-term borrowings		1,937,624			2,062,549			(124,925	)		(6.1	)
Long-term debt		20,786,735			22,127,166			(1,340,431	)		(6.1	)
Trading liabilities		1,529,325			1,098,563			430,762			39.2
Other liabilities		6,148,716			4,890,525			1,258,191			25.7
Total liabilities		162,830,111			142,882,885			19,947,226			14.0
SHAREHOLDERS' EQUITY
Preferred stock, no par value		—			—			—			—
Common stock, $1.00 par value		370,578			370,578			—			—
Additional paid in capital		6,761,684			6,749,219			12,465			0.2
Retained earnings		9,306,313			8,118,710			1,187,603			14.6
Treasury stock and other		(493,936	)		(528,558	)		34,622			(6.6	)
Accumulated other comprehensive income		938,091			1,276,950			(338,859	)		(26.5	)
Total shareholders' equity		16,882,730			15,986,899			895,831			5.6
Total liabilities and shareholders' equity	$	179,712,841		$	158,869,784		$	20,843,057			13.1
Common shares outstanding		361,984,193			360,840,710			1,143,483			0.3
Common shares authorized		750,000,000			750,000,000			—			—
Treasury shares of common stock		8,594,205			9,737,688			(1,143,483	)		(11.7	)

¹ Includes net unrealized gains of	$	1,572,033		$	2,010,165			($438,132	)		(21.8	)%
² Includes earning assets of		157,661,463			138,726,585			18,934,878			13.6

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)


	As of
	December 31 2005			September 30 2005			June 30 2005			March 31 2005			December 31 2004
ASSETS
Cash and due from banks	$	4,659,664		$	4,228,590		$	4,476,229		$	4,178,424		$	3,876,741
Interest-bearing deposits in other banks		332,444			22,694			24,255			17,456			15,929
Trading assets		2,811,225			2,470,160			2,489,467			2,516,512			2,183,645
Securities available for sale ¹		26,525,821			26,867,580			28,767,390			29,374,017			28,941,080
Funds sold and securities purchased under agreements to resell		1,313,498			1,208,087			1,496,544			1,764,554			1,596,269
Loans held for sale		13,695,613			10,378,411			7,656,249			6,955,538			6,580,223
Loans		114,554,895			112,410,810			109,594,200			104,760,859			101,426,172
Allowance for loan and lease losses		(1,028,128	)		(1,029,855	)		(1,036,173	)		(1,023,746	)		(1,050,024	)
Net loans		113,526,767			111,380,955			108,558,027			103,737,113			100,376,148
Goodwill		6,835,168			6,841,631			6,873,111			6,861,721			6,806,013
Other intangible assets		1,122,967			1,112,873			1,094,803			1,073,154			1,061,451
Other assets		8,889,674			7,905,115			7,516,500			8,332,465			7,432,285
Total assets ²	$	179,712,841		$	172,416,096		$	168,952,575		$	164,810,954		$	158,869,784
LIABILITIES
Noninterest-bearing consumer and commercial deposits	$	26,327,663		$	24,548,595		$	24,514,476		$	24,448,291		$	24,878,314
Interest-bearing consumer and commercial deposits		71,244,719			69,916,316			69,299,154			68,587,192			67,231,381
Total consumer and commercial deposits		97,572,382			94,464,911			93,813,630			93,035,483			92,109,695
Brokered deposits		15,644,932			12,837,377			11,419,706			8,183,776			6,100,911
Foreign deposits		8,835,864			6,427,770			4,343,762			6,315,625			5,150,645
Total deposits		122,053,178			113,730,058			109,577,098			107,534,884			103,361,251
Funds purchased and securities sold under agreements to repurchase		10,374,533			9,689,204			11,911,559			10,113,705			9,342,831
Other short-term borrowings		1,937,624			3,173,951			2,728,111			2,167,383			2,062,549
Long-term debt		20,786,735			22,364,776			21,565,176			22,498,447			22,127,166
Trading liabilities		1,529,325			1,064,603			1,003,495			1,051,095			1,098,563
Other liabilities		6,148,716			5,675,754			5,520,940			5,341,181			4,890,525
Total liabilities		162,830,111			155,698,346			152,306,379			148,706,695			142,882,885
SHAREHOLDERS' EQUITY
Preferred stock, no par value		—			—			—			—			—
Common stock, $1.00 par value		370,578			370,578			370,578			370,578			370,578
Additional paid in capital		6,761,684			6,758,901			6,763,940			6,754,301			6,749,219
Retained earnings		9,306,313			8,991,168			8,679,452			8,412,574			8,118,710
Treasury stock and other		(493,936	)		(541,176	)		(465,736	)		(523,790	)		(528,558	)
Accumulated other comprehensive income		938,091			1,138,279			1,297,962			1,090,596			1,276,950
Total shareholders' equity		16,882,730			16,717,750			16,646,196			16,104,259			15,986,899
Total liabilities and shareholders' equity	$	179,712,841		$	172,416,096		$	168,952,575		$	164,810,954		$	158,869,784
Common shares outstanding		361,984,193			361,248,048			362,159,995			361,176,868			360,840,710
Common shares authorized		750,000,000			750,000,000			750,000,000			750,000,000			750,000,000
Treasury shares of common stock		8,594,205			9,330,350			8,418,403			9,401,530			9,737,688

¹ Includes net unrealized gains of	$	1,572,033		$	1,888,990		$	2,032,317		$	1,710,792		$	2,010,165
² Includes earning assets of		157,661,463			151,468,752			147,995,788			143,678,144			138,726,585

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)


	Three Months Ended											Twelve Months Ended
	December 31					Increase/(Decrease)						December 31						Increase/(Decrease)
	2005		2004			Amount			%			2005			2004			Amount		%
Interest income	$	2,175,340	$	1,604,267		$	571,073			35.6	%	$	7,731,309		$	5,218,382		$	2,512,927		48.2	%
Interest expense		988,304		520,063			468,241			90.0			3,152,343			1,533,227			1,619,116		105.6
NET INTEREST INCOME		1,187,036		1,084,204			102,832			9.5			4,578,966			3,685,155			893,811		24.3
Provision for loan losses		48,126		37,099			11,027			29.7			176,886			135,537			41,349		30.5
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES		1,138,910		1,047,105			91,805			8.8			4,402,080			3,549,618			852,462		24.0
NONINTEREST INCOME
Service charges on deposit accounts		196,792		196,960			(168	)		(0.1	)		772,519			700,022			72,497		10.4
Trust and investment management income		172,900		160,526			12,374			7.7			673,720			586,783			86,937		14.8
Retail investment services		53,250		53,185			65			0.1			213,274			192,811			20,463		10.6
Other charges and fees		115,507		110,509			4,998			4.5			456,481			390,494			65,987		16.9
Investment banking income		59,727		61,671			(1,944	)		(3.2	)		216,530			206,730			9,800		4.7
Trading account profits and commissions		19,932		44,032			(24,100	)		(54.7	)		137,634			127,799			9,835		7.7
Card fees		57,688		49,308			8,380			17.0			210,779			153,439			57,340		37.4
Gain on sale of RCM assets, net of related expenses		—		—			—			—			23,382			—			23,382		100.0
Other noninterest income		114,041		102,189			11,852			11.6			450,394			288,059			162,335		56.4
Securities gains/(losses)		600		(19,377	)		19,977			(103.1	)		(7,155	)		(41,691	)		34,536		(82.8	)
Total noninterest income		790,437		759,003			31,434			4.1			3,147,558			2,604,446			543,112		20.9
NONINTEREST EXPENSE
Personnel expense		643,801		612,861			30,940			5.0			2,534,211			2,168,313			365,898		16.9
Net occupancy expense		83,217		78,218			4,999			6.4			312,070			268,248			43,822		16.3
Outside processing and software		92,305		81,368			10,937			13.4			357,387			286,270			71,117		24.8
Equipment expense		49,494		50,765			(1,271	)		(2.5	)		204,038			184,865			19,173		10.4
Marketing and customer development		50,133		34,389			15,744			45.8			156,711			128,291			28,420		22.2
Amortization of intangible assets		28,192		31,759			(3,567	)		(11.2	)		118,964			77,582			41,382		53.3
Merger expense		6,538		28,401			(21,863	)		(77.0	)		98,642			28,401			70,241		247.3
Other noninterest expense		253,247		231,231			22,016			9.5			908,706			755,068			153,638		20.3
Total noninterest expense		1,206,927		1,148,992			57,935			5.0			4,690,729			3,897,038			793,691		20.4
INCOME BEFORE INCOME TAXES		722,420		657,116			65,304			9.9			2,858,909			2,257,026			601,883		26.7
Provision for income taxes		208,614		201,387			7,227			3.6			876,335			684,125			192,210		28.1
NET INCOME	$	513,806	$	455,729		$	58,077			12.7		$	1,982,574		$	1,572,901		$	409,673		26.0
Net interest income (taxable-equivalent) ¹	$	1,207,061	$	1,100,888		$	106,173			9.6		$	4,654,458		$	3,743,553		$	910,905		24.3
Earnings per share
Diluted		1.41		1.26			0.15			11.9			5.45			5.19			0.26		5.0
Basic		1.43		1.27			0.16			12.6			5.52			5.25			0.27		5.1
Cash dividends paid per common share		0.55		0.50			0.05			10.0			2.20			2.00			0.20		10.0
Average shares outstanding (000s)
Diluted		363,175		362,661			514			0.1			363,454			303,309			60,145		19.8
Basic		359,203		357,524			1,679			0.5			359,066			299,375			59,691		19.9


¹	Net interest income includes the effects of taxable-equivalent adjustments using a federal tax rate of 35% and state income taxes where applicable to increase tax-exempt interest income to a taxable-equivalent basis.

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)


	Three Months Ended
	December 31 2005		September 30 2005			June 30 2005			March 31 2005			December 31 2004
Interest income	$	2,175,340	$	1,996,674		$	1,843,273		$	1,716,022		$	1,604,267
Interest expense		988,304		840,013			719,564			604,462			520,063
NET INTEREST INCOME		1,187,036		1,156,661			1,123,709			1,111,560			1,084,204
Provision for loan losses		48,126		70,393			47,811			10,556			37,099
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES		1,138,910		1,086,268			1,075,898			1,101,004			1,047,105
NONINTEREST INCOME
Service charges on deposit accounts		196,792		198,348			193,276			184,103			196,960
Trust and investment management income		172,900		168,802			167,503			164,515			160,526
Retail investment services		53,250		52,257			52,624			55,143			53,185
Other charges and fees		115,507		117,341			112,258			111,375			110,509
Investment banking income		59,727		53,090			53,706			50,007			61,671
Trading account profits and commissions		19,932		41,837			31,819			44,046			44,032
Card fees		57,688		52,924			52,011			48,156			49,308
Gain on sale of RCM assets, net of related expenses		—		3,508			—			19,874			—
Other noninterest income		114,041		146,360			107,739			82,254			102,189
Securities gains/(losses)		600		(2,069	)		(27	)		(5,659	)		(19,377	)
Total noninterest income		790,437		832,398			770,909			753,814			759,003
NONINTEREST EXPENSE
Personnel expense		643,801		632,333			623,284			634,793			612,861
Net occupancy expense		83,217		79,519			73,483			75,851			78,218
Outside processing and software		92,305		92,952			89,282			82,848			81,368
Equipment expense		49,494		50,083			51,579			52,882			50,765
Marketing and customer development		50,133		38,651			36,298			31,629			34,389
Amortization of intangible assets		28,192		29,737			29,818			31,217			31,759
Merger expense		6,538		12,104			54,262			25,738			28,401
Other noninterest expense		253,247		241,692			214,819			198,948			231,231
Total noninterest expense		1,206,927		1,177,071			1,172,825			1,133,906			1,148,992
INCOME BEFORE INCOME TAXES		722,420		741,595			673,982			720,912			657,116
Provision for income taxes		208,614		230,821			208,282			228,618			201,387
NET INCOME	$	513,806	$	510,774		$	465,700		$	492,294		$	455,729
Net interest income (taxable-equivalent) ¹	$	1,207,061	$	1,175,742		$	1,142,429		$	1,129,226		$	1,100,888
Earnings per share
Diluted		1.41		1.40			1.28			1.36			1.26
Basic		1.43		1.42			1.30			1.37			1.27
Cash dividends paid per common share		0.55		0.55			0.55			0.55			0.50
Average shares outstanding (000s)
Diluted		363,175		363,854			363,642			363,138			362,661
Basic		359,203		359,702			359,090			358,253			357,524


¹	Net interest income includes the effects of taxable-equivalent adjustments using a federal tax rate of 35% and state income taxes where applicable to increase tax-exempt interest income to a taxable-equivalent basis.

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED DAILY AVERAGE BALANCES,
AVERAGE YIELDS EARNED AND RATES PAID
(Dollars in millions; yields on taxable-equivalent basis)


	Three Months Ended
	December 31, 2005								September 30, 2005
	Average Balances			Interest Income/ Expense		Yields/ Rates			Average Balances			Interest Income/ Expense		Yields/ Rates
ASSETS
Loans:
Real estate 1-4 family	$	29,893.4		$	422.7		5.66	%	$	28,250.5		$	388.4		5.50	%
Real estate construction		10,147.9			173.9		6.80			9,515.7			152.6		6.36
Real estate equity		13,067.7			218.2		6.62			12,648.6			195.7		6.14
Real estate commercial		12,792.1			201.7		6.26			12,872.0			193.0		5.95
Commercial		32,997.2			466.5		5.61			32,601.7			428.7		5.22
Business credit card		271.8			4.2		6.21			223.5			3.8		6.89
Consumer – direct		5,438.2			83.8		6.11			5,173.0			76.7		5.88
Consumer – indirect		8,899.1			122.0		5.44			9,179.8			124.9		5.40
Nonaccrual and restructured		320.2			3.5		4.31			353.6			3.8		4.25
Total loans		113,827.6			1,696.5		5.91			110,818.4			1,567.6		5.61
Securities available for sale:
Taxable		24,005.4			273.8		4.56			25,252.1			281.6		4.46
Tax-exempt		908.1			13.3		5.87			872.2			12.9		5.91
Total securities available for sale		24,913.5			287.1		4.61			26,124.3			294.5		4.51
Funds sold and securities purchased under
agreement to resell		1,068.4			10.4		3.82			1,391.8			11.9		3.35
Loans held for sale		11,980.8			180.9		6.04			8,571.5			123.0		5.74
Interest-bearing deposits		31.9			0.3		3.96			18.5			0.2		3.72
Trading assets		2,557.7			20.2		3.13			2,357.3			18.6		3.12
Total earning assets		154,379.9			2,195.4		5.64			149,281.8			2,015.8		5.36
Allowance for loan losses		(1,034.8	)							(1,036.5	)
Cash and due from banks		4,349.2								4,226.8
Premises and equipment		1,833.5								1,842.6
Other assets		14,370.1								13,517.1
Unrealized gains on securities
available for sale		1,871.2								2,102.2
Total assets	$	175,769.1							$	169,934.0
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits:
NOW accounts	$	17,011.3		$	52.2		1.22	%	$	16,853.1		$	44.3		1.04	%
Money market accounts		25,797.6			128.6		1.98			26,299.7			125.5		1.89
Savings		5,472.9			13.7		0.99			5,865.1			13.6		0.92
Consumer time		13,231.5			106.8		3.20			12,419.3			91.7		2.93
Other time		9,050.8			82.2		3.60			8,117.1			67.5		3.30
Total interest-bearing consumer and commercial deposits		70,564.1			383.5		2.16			69,554.3			342.6		1.95
Brokered deposits		13,658.6			142.8		4.09			10,940.4			94.6		3.38
Foreign deposits		7,351.3			74.9		3.99			7,028.8			61.5		3.42
Total interest-bearing deposits		91,574.0			601.2		2.60			87,523.5			498.7		2.26
Funds purchased and securities sold under agreements to repurchase		11,194.4			106.0		3.71			10,139.2			82.0		3.16
Other short-term borrowings		2,800.6			30.7		4.35			2,625.9			24.9		3.76
Long-term debt		21,189.9			250.4		4.69			21,929.4			234.5		4.24
Total interest-bearing liabilities		126,758.9			988.3		3.09			122,218.0			840.1		2.73
Noninterest-bearing deposits		24,693.0								24,521.5
Other liabilities		7,441.6								6,371.6
Shareholders' equity		16,875.6								16,822.9
Total liabilities and shareholders' equity	$	175,769.1							$	169,934.0
Interest Rate Spread							2.55	%							2.63	%
Net Interest Income – FTE				$	1,207.1							$	1,175.7
Net Interest Margin							3.10	%							3.12	%

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED DAILY AVERAGE BALANCES,
AVERAGE YIELDS EARNED AND RATES PAID
(Dollars in millions; yields on taxable-equivalent basis)


	Three Months Ended
	June 30, 2005								March 31, 2005								December 31, 2004
	Average Balances			Interest Income/ Expense		Yields/ Rates			Average Balances			Interest Income/ Expense		Yields/ Rates			Average Balances			Interest Income/ Expense		Yields/ Rates
ASSETS
Loans:
Real estate 1-4 family	$	26,224.1		$	347.8		5.31	%	$	23,435.7		$	300.5		5.13	%	$	22,461.0		$	285.8		5.09	%
Real estate construction		9,196.9			137.6		6.00			9,621.2			134.8		5.68			9,054.6			121.0		5.32
Real estate equity		12,134.7			173.7		5.74			11,573.7			152.8		5.35			11,016.4			133.3		4.81
Real estate commercial		12,214.5			171.9		5.64			9,537.0			124.8		5.31			9,547.2			120.7		5.03
Commercial		32,393.4			398.6		4.94			33,423.9			394.9		4.79			32,223.1			360.5		4.45
Business credit card		213.1			3.5		6.52			197.7			3.4		6.81			192.6			3.2		6.69
Consumer – direct		5,404.7			79.3		5.88			6,767.2			96.6		5.79			6,706.9			93.6		5.55
Consumer – indirect		8,861.1			117.7		5.33			8,384.4			112.1		5.42			8,661.6			120.1		5.52
Nonaccrual and restructured		324.2			3.1		3.78			275.0			2.8		4.19			274.1			3.4		4.90
Total loans		106,966.7			1,433.2		5.37			103,215.8			1,322.7		5.20			100,137.5			1,241.6		4.93
Securities available for sale:
Taxable		26,526.7			293.3		4.42			26,477.7			288.3		4.36			26,389.5			275.1		4.17
Tax-exempt		857.8			12.7		5.93			836.1			12.7		6.10			848.6			13.0		6.11
Total securities available for sale		27,384.5			306.0		4.47			27,313.8			301.0		4.41			27,238.1			288.1		4.23
Funds sold and securities purchased under agreement to resell		1,560.7			11.2		2.84			1,604.3			9.7		2.41			1,301.2			6.0		1.82
Loans held for sale		6,783.0			95.7		5.65			6,393.2			86.1		5.39			5,607.0			74.7		5.33
Interest-bearing deposits		31.9			0.3		3.85			17.5			0.1		1.60			20.9			0.1		1.35
Trading assets		2,330.9			15.6		2.68			2,308.2			14.1		2.48			2,145.7			10.5		1.94
Total earning assets		145,057.7			1,862.0		5.15			140,852.8			1,733.7		4.99			136,450.4			1,621.0		4.73
Allowance for loan losses		(1,030.7	)							(1,065.5	)							(1,094.5	)
Cash and due from banks		4,368.5								4,309.5								4,136.4
Premises and equipment		1,848.1								1,862.9								1,839.9
Other assets		13,218.4								13,225.7								13,181.2
Unrealized gains on securities available for sale		1,791.6								2,032.8								2,056.7
Total assets	$	165,253.6							$	161,218.2							$	156,570.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits:
NOW accounts	$	17,519.6		$	38.6		0.88	%	$	17,479.8		$	33.8		0.78	%	$	16,940.7		$	28.3		0.66	%
Money market accounts		25,472.9			102.7		1.62			24,767.4			82.1		1.34			24,507.0			66.3		1.08
Savings		6,462.4			14.2		0.88			7,506.9			15.5		0.84			8,139.3			16.8		0.82
Consumer time		12,122.0			81.2		2.69			12,324.0			75.1		2.47			12,083.9			73.6		2.42
Other time		7,177.9			54.2		3.03			5,166.6			34.9		2.74			4,748.8			30.2		2.53
Total interest-bearing consumer and commercial deposits		68,754.8			290.9		1.70			67,244.7			241.4		1.46			66,419.7			215.2		1.29
Brokered deposits		9,580.3			75.9		3.14			6,462.1			41.1		2.54			5,966.1			32.3		2.11
Foreign deposits		6,128.9			43.8		2.82			6,962.3			40.0		2.30			4,704.5			23.0		1.91
Total interest-bearing deposits		84,464.0			410.6		1.95			80,669.1			322.5		1.62			77,090.3			270.5		1.40
Funds purchased and securities sold under agreements to repurchase		9,848.0			68.0		2.73			10,134.0			56.2		2.22			9,407.1			40.3		1.68
Other short-term borrowings		2,634.1			22.5		3.42			2,591.3			17.0		2.65			2,219.7			11.5		2.06
Long-term debt		21,547.2			218.5		4.07			22,197.7			208.8		3.82			21,961.6			197.8		3.58
Total interest-bearing liabilities		118,493.3			719.6		2.44			115,592.1			604.5		2.12			110,678.7			520.1		1.87
Noninterest-bearing deposits		24,309.7								23,723.1								24,181.7
Other liabilities		6,175.0								5,783.6								5,890.7
Shareholders' equity		16,275.6								16,119.4								15,819.0
Total liabilities and shareholders' equity	$	165,253.6							$	161,218.2							$	156,570.1
Interest Rate Spread							2.71	%							2.87	%							2.86	%
Net Interest Income – FTE				$	1,142.4							$	1,129.2							$	1,100.9
Net Interest Margin							3.16	%							3.25	%							3.21	%

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED DAILY AVERAGE BALANCES,
AVERAGE YIELDS EARNED AND RATES PAID
(Dollars in millions; yields on taxable-equivalent basis)


	Twelve Months Ended
	December 31, 2005								December 31, 2004
	Average Balances			Interest Income/ Expense		Yields/ Rates			Average Balances			Interest Income/ Expense		Yields/ Rates
ASSETS
Loans:
Real estate 1-4 family	$	26,972.2		$	1,459.4		5.41	%	$	19,961.9		$	1,015.0		5.08	%
Real estate construction		9,621.6			598.9		6.22			5,728.3			275.4		4.81
Real estate equity		12,361.1			740.4		5.99			8,502.6			370.4		4.36
Real estate commercial		11,865.6			691.4		5.83			9,427.9			446.0		4.73
Commercial		32,852.2			1,688.7		5.14			28,962.4			1,134.5		3.92
Business credit card		226.7			14.9		6.58			160.5			10.7		6.69
Consumer – direct		5,690.7			336.3		5.91			4,375.4			221.5		5.06
Consumer – indirect		8,833.4			476.7		5.40			8,802.4			501.6		5.70
Nonaccrual and restructured		318.5			13.2		4.14			293.1			19.0		6.48
Total loans		108,742.0			6,019.9		5.54			86,214.5			3,994.1		4.63
Securities available for sale:
Taxable		25,557.9			1,137.0		4.45			23,429.8			917.1		3.91
Tax-exempt		868.7			51.7		5.95			617.1			37.7		6.11
Total securities available for sale		26,426.6			1,188.7		4.50			24,046.9			954.8		3.97
Funds sold and securities purchased under agreement to resell		1,404.8			43.2		3.08			1,376.9			18.6		1.35
Loans held for sale		8,447.8			485.7		5.75			5,427.1			281.3		5.18
Interest-bearing deposits		25.0			0.9		3.47			18.1			0.2		0.98
Trading assets		2,389.1			68.4		2.86			1,822.1			27.8		1.53
Total earning assets		147,435.3			7,806.8		5.30			118,905.6			5,276.8		4.44
Allowance for loan losses		(1,041.8	)							(989.5	)
Cash and due from banks		4,313.4								3,732.9
Premises and equipment		1,846.6								1,672.7
Other assets		13,585.9								8,060.4
Unrealized gains on securities
available for sale		1,949.4								2,372.2
Total assets	$	168,088.8							$	133,754.3
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits:
NOW accounts	$	17,213.7		$	168.9		0.98	%	$	13,777.5		$	71.0		0.52	%
Money market accounts		25,589.2			438.9		1.72			22,864.7			198.9		0.87
Savings		6,320.0			57.1		0.90			7,225.4			55.5		0.77
Consumer time		12,526.4			354.8		2.83			8,333.5			182.0		2.18
Other time		7,390.7			238.7		3.23			3,843.3			92.8		2.42
Total interest-bearing consumer and commercial deposits		69,040.0			1,258.4		1.82			56,044.4			600.2		1.07
Brokered deposits		10,182.2			354.5		3.48			4,273.5			87.9		2.06
Foreign deposits		6,869.3			220.1		3.20			5,767.9			78.1		1.35
Total interest-bearing deposits		86,091.5			1,833.0		2.13			66,085.8			766.2		1.16
Funds purchased and securities sold under agreements to repurchase		10,331.3			312.2		3.02			9,796.7			108.6		1.11
Other short-term borrowings		2,663.5			94.9		3.57			1,709.9			30.2		1.77
Long-term debt		21,713.9			912.2		4.20			18,075.4			628.2		3.48
Total interest-bearing liabilities		120,800.2			3,152.3		2.61			95,667.8			1,533.2		1.60
Noninterest-bearing deposits		24,315.0								21,047.1
Other liabilities		6,447.3								5,569.9
Shareholders' equity		16,526.3								11,469.5
Total liabilities and shareholders' equity	$	168,088.8							$	133,754.3
Interest Rate Spread							2.69	%							2.84	%
Net Interest Income – FTE				$4,654.5								$	3,743.6
Net Interest Margin							3.16	%							3.15	%

SunTrust Banks, Inc. and Subsidiaries
OTHER FINANCIAL DATA

(Dollars in thousands)


	Three Months Ended									Twelve Months Ended
	December 31						% Change			December 31						% Change
	2005			2004			% Change			2005			2004			% Change
CREDIT DATA
Allowance for loan and lease losses – beginning	$	1,029,855		$	892,974			15.3	%	$	1,050,024		$	941,922			11.5	%
Allowance from acquisitions and other activity – net		—			173,844			(100.0	)		—			173,844			(100.0	)
Provision for loan losses		48,126			37,099			29.7			176,886			135,537			30.5
Charge-offs
Commercial		(23,157	)		(24,335	)		(4.8	)		(111,996	)		(114,608	)		(2.3	)
Real estate:
Construction		(3,265	)		(1,002	)		225.8			(6,001	)		(4,115	)		45.8
Residential mortgages		(13,914	)		(7,912	)		75.9			(47,341	)		(32,822	)		44.2
Other		(1,551	)		(1,218	)		27.3			(3,097	)		(5,515	)		(43.8	)
Consumer loans		(37,850	)		(51,352	)		(26.3	)		(146,810	)		(159,021	)		(7.7	)
Total charge-offs		(79,737	)		(85,819	)		(7.1	)		(315,245	)		(316,081	)		(0.3	)
Recoveries
Commercial		9,561			14,295			(33.1	)		36,308			49,943			(27.3	)
Real estate:
Construction		90			61			47.5			798			113			606.2
Residential mortgages		4,286			2,826			51.7			14,287			9,668			47.8
Other		369			679			(45.7	)		2,678			1,392			92.4
Consumer loans		15,578			14,065			10.8			62,392			53,686			16.2
Total recoveries		29,884			31,926			(6.4	)		116,463			114,802			1.4
Net charge-offs		(49,853	)		(53,893	)		(7.5	)		(198,782	)		(201,279	)		(1.2	)
Allowance for loan and lease losses – ending	$	1,028,128		$	1,050,024			(2.1	)	$	1,028,128		$	1,050,024			(2.1	)
Net charge-offs to average loans		0.17	%		0.21	%		(19.0	)%		0.18	%		0.23	%		(21.7	)%
Period Ended
Nonaccrual loans
Commercial	$	70,880		$	130,961			(45.9	)%
Real estate:
Construction		24,442			32,842			(25.6	)
Residential mortgages		103,317			104,452			(1.1	)
Other		44,603			36,684			21.6
Consumer loans		28,732			49,302			(41.7	)
Total nonaccrual loans		271,974			354,241			(23.2	)
Restructured loans		24,399			19,049			28.1
Total nonperforming loans		296,373			373,290			(20.6	)
Other real estate owned (OREO)		30,682			28,619			7.2
Other repossessed assets		7,160			8,749			(18.2	)
Total nonperforming assets	$	334,215		$	410,658			(18.6	)
Total nonperforming loans to total loans		0.26	%		0.37	%		(29.7	)%
Total nonperforming assets to total loans plus OREO and other repossessed assets		0.29			0.40			(27.5	)
Allowance to period-end loans		0.90			1.04			(13.5	)
Allowance to nonperforming loans		346.9			281.3			23.3

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER OTHER FINANCIAL DATA

(Dollars in thousands)


	Three Months Ended
	December 31 2005			September 30 2005			% Change			June 30 2005			March 31 2005			December 31 2004
CREDIT DATA
Allowance for loan and lease losses – beginning	$	1,029,855		$	1,036,173			(0.6	)%	$	1,023,746		$	1,050,024		$	892,974
Allowance from acquisitions and other activity – net		—			—			—			—			—			173,844
Provision for loan losses		48,126			70,393			(31.6	)		47,811			10,556			37,099
Charge-offs
Commercial		(23,157	)		(52,450	)		(55.8	)		(19,779	)		(16,610	)		(24,335	)
Real estate:
Construction		(3,265	)		(748	)		336.5			(1,191	)		(797	)		(1,002	)
Residential mortgages		(13,914	)		(16,098	)		(13.6	)		(8,856	)		(8,473	)		(7,912	)
Other		(1,551	)		(328	)		372.9			(393	)		(825	)		(1,218	)
Consumer loans		(37,850	)		(34,990	)		8.2			(35,582	)		(38,388	)		(51,352	)
Total charge-offs		(79,737	)		(104,614	)		(23.8	)		(65,801	)		(65,093	)		(85,819	)
Recoveries
Commercial		9,561			7,732			23.7			9,278			9,737			14,295
Real estate:
Construction		90			205			(56.1	)		312			191			61
Residential mortgages		4,286			4,167			2.9			3,860			1,974			2,826
Other		369			1,415			(73.9	)		556			338			679
Consumer loans		15,578			14,384			8.3			16,411			16,019			14,065
Total recoveries		29,884			27,903			7.1			30,417			28,259			31,926
Net charge-offs		(49,853	)		(76,711	)		(35.0	)		(35,384	)		(36,834	)		(53,893	)
Allowance for loan and lease losses – ending	$	1,028,128		$	1,029,855			(0.2	)	$	1,036,173		$	1,023,746		$	1,050,024
Net charge-offs to average loans		0.17	%		0.27	%		(37.0	)%		0.13	%		0.14	%		0.21	%
Period Ended
Nonaccrual loans
Commercial	$	70,880		$	98,291			(27.9	)%	$	116,609		$	116,386		$	130,961
Real estate:
Construction		24,442			33,182			(26.3	)		50,311			36,793			32,842
Residential mortgages		103,317			101,826			1.5			102,201			112,166			104,452
Other		44,603			50,546			(11.8	)		36,456			45,192			36,684
Consumer loans		28,732			23,943			20.0			22,441			26,520			49,302
Total nonaccrual loans		271,974			307,788			(11.6	)		328,018			337,057			354,241
Restructured loans		24,399			21,876			11.5			21,236			20,071			19,049
Total nonperforming loans		296,373			329,664			(10.1	)		349,254			357,128			373,290
Other real estate owned (OREO)		30,682			26,013			17.9			25,263			27,555			28,619
Other repossessed assets		7,160			7,060			1.4			5,786			7,662			8,749
Total nonperforming assets	$	334,215		$	362,737			(7.9	)	$	380,303		$	392,345		$	410,658
Total nonperforming loans to total loans		0.26	%		0.29	%		(10.3	)%		0.32	%		0.34	%		0.37	%
Total nonperforming assets to total loans plus OREO and other repossessed assets		0.29			0.32			(9.4	)		0.35			0.37			0.40
Allowance to period-end loans		0.90			0.92			(2.2	)		0.95			0.98			1.04
Allowance to nonperforming loans		346.9			312.4			11.0			296.7			286.7			281.3

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES
APPENDIX A TO THE PRESS RELEASE

(Dollars in thousands)


	Three Months Ended															Twelve Months Ended
	December 31 2005			September 30 2005			June 30 2005			March 31 2005			December 31 2004			December 31
	December 31 2005			September 30 2005			June 30 2005			March 31 2005			December 31 2004			2005			2004
NON-GAAP MEASURES PRESENTED IN THE PRESS RELEASE
Net income	$	513,806		$	510,774		$	465,700		$	492,294		$	455,729		$	1,982,574		$	1,572,901
Securities (gains)/losses, net of tax		(372	)		1,283			17			3,509			12,595			4,436			27,099
Net income excluding securities gains and losses		513,434			512,057			465,717			495,803			468,324			1,987,010			1,600,000
The Coca-Cola Company dividend, net of tax		(12,027	)		(12,028	)		(12,027	)		(12,028	)		(10,739	)		(48,112	)		(42,957	)
Net income excluding securities (gains)/losses and The Coca-Cola Company dividend	$	501,407		$	500,029		$	453,690		$	483,775		$	457,585		$	1,938,898		$	1,557,043
Total average assets	$	175,769,140		$	169,933,960		$	165,253,589		$	161,218,222		$	156,570,092		$	168,088,771		$	133,754,293
Average net unrealized securities gains		(1,871,230	)		(2,102,257	)		(1,791,566	)		(2,032,787	)		(2,056,737	)		(1,949,436	)		(2,372,246	)
Average assets less net unrealized securities gains	$	173,897,910		$	167,831,703		$	163,462,023		$	159,185,435		$	154,513,355		$	166,139,335		$	131,382,047
Total average equity	$	16,875,645		$	16,822,919		$	16,275,567		$	16,119,430		$	15,818,968		$	16,526,282		$	11,469,482
Average accumulated other comprehensive income		(1,126,701	)		(1,331,103	)		(1,139,477	)		(1,285,278	)		(1,304,553	)		(1,220,508	)		(1,517,227	)
Total average realized equity	$	15,748,944		$	15,491,816		$	15,136,090		$	14,834,152		$	14,514,415		$	15,305,774		$	9,952,255
Return on average total assets		1.16	%		1.19	%		1.13	%		1.24	%		1.16	%		1.18	%		1.18	%
Impact of excluding net realized and unrealized securities gains/losses and The Coca-Cola Company dividend		(0.02	)		(0.01	)		(0.02	)		(0.01	)		0.02			(0.01	)		0.01
Return on average total assets less net unrealized securities gains¹		1.14	%		1.18	%		1.11	%		1.23	%		1.18	%		1.17	%		1.19	%
Return on average total shareholders' equity		12.08	%		12.05	%		11.48	%		12.39	%		11.46	%		12.00	%		13.71	%
Impact of excluding net realized and unrealized securities gains/ losses and The Coca-Cola Company dividend		0.55			0.76			0.54			0.84			1.08			0.67			1.94
Return on average realized shareholders' equity ²		12.63	%		12.81	%		12.02	%		13.23	%		12.54	%		12.67	%		15.65	%
Noninterest income	$	790,437		$	832,398		$	770,909		$	753,814		$	759,003		$	3,147,558		$	2,604,446
Securities (gains)/losses		(600	)		2,069			27			5,659			19,377			7,155			41,691
Gain on sale of RCM assets, net of related expenses		—			(3,508	)		—			(19,874	)		—			(23,382	)		—
Total noninterest income excluding securities (gains)/losses and net gain on sale of RCM assets³	$	789,837		$	830,959		$	770,936		$	739,599		$	778,380		$	3,131,331		$	2,646,137
Net interest income	$	1,187,036		$	1,156,661		$	1,123,709		$	1,111,560		$	1,084,204		$	4,578,966		$	3,685,155
FTE adjustment		20,025			19,081			18,720			17,666			16,684			75,492			58,398
Net interest income – FTE		1,207,061			1,175,742			1,142,429			1,129,226			1,100,888			4,654,458			3,743,553
Noninterest income		790,437			832,398			770,909			753,814			759,003			3,147,558			2,604,446
Total revenue		1,997,498			2,008,140			1,913,338			1,883,040			1,859,891			7,802,016			6,347,999
Securities (gains)/losses		(600	)		2,069			27			5,659			19,377			7,155			41,691
Gain on sale of RCM assets, net of related expenses		—			(3,508	)		—			(19,874	)		—			(23,382	)		—
Total revenue excluding securities (gains)/losses and net gain on sale of RCM assets³	$	1,996,898		$	2,006,701		$	1,913,365		$	1,868,825		$	1,879,268		$	7,785,789		$	6,389,690

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES
APPENDIX A TO THE PRESS RELEASE, continued

(Dollars in thousands)


	Three Months Ended
	December 31 2005		September 30 2005		%⁴ Change			December 31 2005		December 31 2004		% Change
AVERAGE LOW COST CONSUMER AND COMMERCIAL DEPOSIT RECONCILEMENT
Noninterest bearing deposits	$	24,693,026	$	24,521,452		0.7		$	24,693,026	$	24,181,729		2.1
NOW accounts		17,011,346		16,853,139		0.9			17,011,346		16,940,751		0.4
Savings		5,472,928		5,865,099		(6.7	)		5,472,928		8,139,263		(32.8	)
Total average low cost consumer and commercial deposits	$	47,177,300	$	47,239,690		(0.1	)	$	47,177,300	$	49,261,743		(4.2	)

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.

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.

SunTrust presents total noninterest income and total revenue excluding realized securities gains/losses and the net gain on the sale of RCM assets. The Company believes total noninterest income and total revenue without securities gains/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.

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES
APPENDIX A TO THE PRESS RELEASE, continued

(Dollars in thousands)


	Three Months Ended									Twelve Months Ended
	December 31 2005			September 30 2005			December 31 2004			December 31 2005			December 31 2004
SELECTED NON-GAAP MEASURES PRESENTED IN THE PRESS RELEASE ¹
Net income	$	513,806		$	510,774		$	455,729		$	1,982,574		$	1,572,901
Merger expense, net of tax		4,053			7,505			18,461			61,158			18,461
Net income excluding merger expense		517,859			518,279			474,190			2,043,732			1,591,362
Net gain on sale of RCM assets, net of tax		—			(2,175	)		—			(14,497	)		—
Net income excluding merger expense and net gain on sale of RCM assets	$	517,859		$	516,104		$	474,190		$	2,029,235		$	1,591,362
Diluted earnings per share	$	1.41		$	1.40		$	1.26		$	5.45		$	5.19
Impact of excluding merger expense		0.02			0.02			0.05			0.17			0.06
Diluted earnings per share excluding merger expense		1.43			1.42			1.31			5.62			5.25
Impact of net gain on sale of RCM assets		—			—			—			(0.04	)		—
Diluted earnings per share excluding merger expense and net gain on sale of RCM assets	$	1.43		$	1.42		$	1.31		$	5.58		$	5.25
Total revenue	$	1,997,498		$	2,008,140		$	1,859,891		$	7,802,016		$	6,347,999
Securities (gains)/losses		(600	)		2,069			19,377			7,155			41,691
Net gain on sale of RCM assets		—			(3,508	)		—			(23,382	)		—
Total revenue excluding securities (gains)/losses and net gain on sale of RCM assets	$	1,996,898		$	2,006,701		$	1,879,268		$	7,785,789		$	6,389,690
Noninterest income	$	790,437		$	832,398		$	759,003		$	3,147,558		$	2,604,446
Net gain on sale of RCM assets		—			(3,508	)		—			(23,382	)		—
Noninterest income excluding net gain on sale of RCM assets	$	790,437		$	828,890		$	759,003		$	3,124,176		$	2,604,446
Noninterest expense	$	1,206,927		$	1,177,071		$	1,148,992		$	4,690,729		$	3,897,038
Merger expense		(6,538	)		(12,104	)		(28,401	)		(98,642	)		(28,401	)
Noninterest expense excluding merger expense	$	1,200,389		$	1,164,967		$	1,120,591		$	4,592,087		$	3,868,637
Efficiency ratio		60.42	%		58.62	%		61.78	%		60.12	%		61.39	%
Impact of excluding merger expense		(0.33	)		(0.61	)		(1.53	)		(1.26	)		(0.45	)
Efficiency ratio excluding merger expense		60.09			58.01			60.25			58.86			60.94
Impact of net gain on sale of RCM assets		—			0.10			—			0.17			—
Efficiency ratio excluding merger expense and net gain on sale of RCM assets		60.09	%		58.11	%		60.25	%		59.03	%		60.94	%
Return on average total assets		1.16	%		1.19	%		1.16	%		1.18	%		1.18	%
Impact of excluding merger expense		0.01			0.02			0.04			0.04			0.01
Return on average total assets excluding merger expense ²		1.17	%		1.21	%		1.20	%		1.22	%		1.19	%
Return on average total shareholders' equity		12.08	%		12.05	%		11.46	%		12.00	%		13.71	%
Impact of excluding merger expense		0.09			0.17			0.47			0.37			0.16
Return on average total shareholders' equity excluding merger expense ³		12.17	%		12.22	%		11.93	%		12.37	%		13.87	%

SunTrust presents selected financial data on a basis that excludes merger expense, which represent incremental costs to integrate the operations of National Commerce Financial (‘‘NCF’’). The Company also presents selected financial data that 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 net income excluding merger expense by average total assets.


³	Computed by dividing annualized net income excluding merger expense by average total shareholders' equity.

SunTrust Banks, Inc. and Subsidiaries
QUARTER-TO-QUARTER COMPARISON — ACTUAL
APPENDIX B TO THE PRESS RELEASE


	Three Months Ended
	December 31 2005		September 30 2005			Increase/(Decrease)						Sequential Annualized ¹ %			December 31 2005		December 31 2004			Increase/(Decrease)
	December 31 2005		September 30 2005			Amount			%			Sequential Annualized ¹ %			December 31 2005		December 31 2004			Amount			%
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	1,187,036	$	1,156,661		$	30,375			2.6	%		10.5	%	$	1,187,036	$	1,084,204		$	102,832			9.5	%
Provision for loan losses		48,126		70,393			(22,267	)		(31.6	)		NM			48,126		37,099			11,027			29.7
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		1,138,910		1,086,268			52,642			4.8			19.4			1,138,910		1,047,105			91,805			8.8
NONINTEREST INCOME
Deposit and other fees ²		369,987		368,613			1,374			0.4			1.5			369,987		356,777			13,210			3.7
Trust and investment management income		172,900		168,802			4,098			2.4			9.7			172,900		160,526			12,374			7.7
Broker / dealer revenue ³		132,909		147,184			(14,275	)		(9.7	)		(38.8	)		132,909		158,888			(25,979	)		(16.4	)
Other noninterest income		114,041		146,360			(32,319	)		(22.1	)		(88.3	)		114,041		102,189			11,852			11.6
Noninterest income before securities gains/(losses) and net gain on sale of RCM assets ⁴		789,837		830,959			(41,122	)		(4.9	)		(19.8	)		789,837		778,380			11,457			1.5
Gain on sale of RCM assets, net of related expenses		—		3,508			(3,508	)		(100.0	)		NM			—		—			—			—
Noninterest income before securities gains/(losses)		789,837		834,467			(44,630	)		(5.3	)		(21.4	)		789,837		778,380			11,457			1.5
Securities gains/(losses)		600		(2,069	)		2,669			(129.0	)		NM			600		(19,377	)		19,977			(103.1	)
Total noninterest income		790,437		832,398			(41,961	)		(5.0	)		(20.2	)		790,437		759,003			31,434			4.1
NONINTEREST EXPENSE
Personnel expense		643,801		632,333			11,468			1.8			7.3			643,801		612,861			30,940			5.0
Net occupancy expense		83,217		79,519			3,698			4.7			18.6			83,217		78,218			4,999			6.4
Outside processing and software		92,305		92,952			(647	)		(0.7	)		(2.8	)		92,305		81,368			10,937			13.4
Equipment expense		49,494		50,083			(589	)		(1.2	)		(4.7	)		49,494		50,765			(1,271	)		(2.5	)
Marketing and customer development		50,133		38,651			11,482			29.7			NM			50,133		34,389			15,744			45.8
Other noninterest expense		245,197		216,020			29,177			13.5			54.0			245,197		231,231			13,966			6.0
Noninterest expense before Affordable Housing impairment charge, amortization of intangible assets and merger expense ⁵		1,164,147		1,109,558			54,589			4.9			19.7			1,164,147		1,088,832			75,315			6.9
Impairment charge on Affordable Housing Properties		8,050		25,672			(17,622	)		(68.6	)		NM			8,050		—			8,050			100.0
Amortization of intangible assets		28,192		29,737			(1,545	)		(5.2	)		(20.8	)		28,192		31,759			(3,567	)		(11.2	)
Merger expense		6,538		12,104			(5,566	)		(46.0	)		NM			6,538		28,401			(21,863	)		(77.0	)
Total noninterest expense		1,206,927		1,177,071			29,856			2.5			10.1			1,206,927		1,148,992			57,935			5.0
INCOME BEFORE INCOME TAXES		722,420		741,595			(19,175	)		(2.6	)		(10.3	)		722,420		657,116			65,304			9.9
Provision for income taxes		208,614		230,821			(22,207	)		(9.6	)		(38.5	)		208,614		201,387			7,227			3.6
NET INCOME		513,806		510,774			3,032			0.6			2.4			513,806		455,729			58,077			12.7
Merger expense, net of tax		4,053		7,505			(3,452	)		(46.0	)		NM			4,053		18,461			(14,408	)		(78.0	)
NET INCOME EXCLUDING MERGER EXPENSE		517,859		518,279			(420	)		(0.1	)		(0.3	)		517,859		474,190			43,669			9.2
Net gain on sale of RCM assets, net of tax		—		(2,175	)		2,175			(100.0	)		NM			—		—			—			—
NET INCOME EXCLUDING MERGER EXPENSE AND NET GAIN ON SALE OF RCM ASSETS	$	517,859	$	516,104		$	1,755			0.3	%		1.4	%	$	517,859	$	474,190		$	43,669			9.2	%
REVENUE (Dollars in thousands)
Net interest income	$	1,187,036	$	1,156,661		$	30,375			2.6	%		10.5	%	$	1,187,036	$	1,084,204		$	102,832			9.5	%
FTE adjustment		20,025		19,081			944			4.9			19.8			20,025		16,684			3,341			20.0
Net interest income — FTE		1,207,061		1,175,742			31,319			2.7			10.7			1,207,061		1,100,888			106,173			9.6
Noninterest income		790,437		832,398			(41,961	)		(5.0	)		(20.2	)		790,437		759,003			31,434			4.1


	Three Months Ended
	December 31 2005			September 30 2005			Increase/(Decrease)						Sequential Annualized ¹ %			December 31 2005			December 31 2004		Increase/(Decrease)
	December 31 2005			September 30 2005			Amount			%			Sequential Annualized ¹ %			December 31 2005			December 31 2004		Amount			%
Total revenue		1,997,498			2,008,140			(10,642	)		(0.5	)		(2.1	)		1,997,498			1,859,891		137,607			7.4
Securities (gains)/losses		(600	)		2,069			(2,669	)		(129.0	)		NM			(600	)		19,377		(19,977	)		(103.1	)
Net gain on sale of RCM assets		—			(3,508	)		3,508			(100.0	)		NM			—			—		—			—
Total revenue excluding securities gains/losses and net gain on sale of RCM assets	$	1,996,898		$	2,006,701		$	(9,803	)		(0.5	)%		(2.0	)%	$	1,996,898		$	1,879,268	$	117,630			6.3	%
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans ⁶
Commercial	$	33,080		$	32,713		$	367			1.1	%		4.5	%	$	33,080		$	32,343	$	737			2.3	%
Real estate 1-4 family		30,014			28,366			1,648			5.8			23.2			30,014			22,535		7,479			33.2
Real estate commercial and construction		23,021			22,484			537			2.4			9.5			23,021			18,660		4,361			23.4
Real estate equity		13,068			12,649			419			3.3			13.2			13,068			11,016		2,052			18.6
Consumer ⁷		14,373			14,382			(9	)		(0.1	)		(0.3	)		14,373			15,390		(1,017	)		(6.6	)
Credit cards		272			224			48			21.4			85.4			272			193		79			41.1
Total loans	$	113,828		$	110,818		$	3,010			2.7	%		10.9	%	$	113,828		$	100,137	$	13,691			13.7	%
Average deposits
Noninterest bearing deposits	$	24,693		$	24,522		$	171			0.7	%		2.8	%	$	24,693		$	24,182	$	511			2.1	%
NOW accounts		17,011			16,853			158			0.9			3.8			17,011			16,941		70			0.4
Money market accounts		25,798			26,300			(502	)		(1.9	)		(7.6	)		25,798			24,507		1,291			5.3
Savings		5,473			5,865			(392	)		(6.7	)		(26.7	)		5,473			8,139		(2,666	)		(32.8	)
Consumer and other time		22,282			20,536			1,746			8.5			34.0			22,282			16,832		5,450			32.4
Total consumer and commercial deposits		95,257			94,076			1,181			1.3			5.0			95,257			90,601		4,656			5.1
Brokered and foreign deposits		21,010			17,969			3,041			16.9			67.7			21,010			10,671		10,339			96.9
Total deposits	$	116,267		$	112,045		$	4,222			3.8	%		15.1	%	$	116,267		$	101,272	$	14,995			14.8	%
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans	$	271,974		$	307,788		$	(35,814	)		(11.6	)%		(46.5	)%	$	271,974		$	354,241	$	(82,267	)		(23.2	)%
Restructured loans		24,399			21,876			2,523			11.5			46.1			24,399			19,049		5,350			28.1
Total nonperforming loans		296,373			329,664			(33,291	)		(10.1	)		(40.4	)		296,373			373,290		(76,917	)		(20.6	)
Other real estate owned (OREO)		30,682			26,013			4,669			18.0			71.8			30,682			28,619		2,063			7.2
Other repossessed assets		7,160			7,060			100			1.4			5.6			7,160			8,749		(1,589	)		(18.2	)
Total nonperforming assets	$	334,215		$	362,737		$	(28,522	)		(7.9	)%		(31.5	)%	$	334,215			410,658	$	(76,443	)		(18.6	)%
Allowance for loan and lease losses	$	1,028,128		$	1,029,855		$	(1,727	)		(0.2	)%		(0.7	)%	$	1,028,128		$	1,050,024	$	(21,896	)		(2.1	)%


¹	Multiply percentage change by 4 to calculate sequential annualized change. Any sequential annualized change over 100 percent is labeled as ‘‘NM’’. Those changes over 100 percent were not considered to be meaningful.


²	Includes service charges on deposits, card fees and other charges and fees.


³	Includes retail investment services, investment banking income and trading account profits and commissions.

⁴

SunTrust presents noninterest income before securities gains/(losses) and net gain on the sale of RCM assets. The Company believes noninterest income before securities gains/(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.


⁵	The Company presents noninterest expense before an impairment charge on Affordable Housing Properties, 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.


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
YEAR-TO-YEAR COMPARISON — HISTORICAL COMBINED GROWTH
APPENDIX B TO THE PRESS RELEASE, continued

The year-to-date 2004 figures represent SunTrust and NCF on a historical combined basis.

See page 16 for a reconcilement of these historical combined amounts.


	HISTORICAL COMBINED
	Twelve Months Ended
	December 31						Increase/(Decrease)
	2005			2004			Amount			%
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	4,578,966		$	4,265,027		$	313,939			7.4	%
Provision for loan losses		176,886			179,514			(2,628	)		(1.5	)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		4,402,080			4,085,513			316,567			7.7
NONINTEREST INCOME
Deposit and other fees ¹		1,439,779			1,403,103			36,676			2.6
Trust and investment management income		673,720			635,197			38,523			6.1
Broker / dealer revenue²		567,438			599,155			(31,717	)		(5.3	)
Other noninterest income		450,394			354,375			96,019			27.1
Noninterest income before securities gains/(losses) and net gain on sale of RCM assets ³		3,131,331			2,991,830			139,501			4.7
Gain on sale of RCM assets, net of related expenses		23,382			—			23,382			100.0
Noninterest income before securities gains/(losses)		3,154,713			2,991,830			162,883			5.4
Securities losses		(7,155	)		(29,079	)		21,924			(75.4	)
Total noninterest income		3,147,558			2,962,751			184,807			6.2
NONINTEREST EXPENSE
Personnel expense		2,534,211			2,402,832			131,379			5.5
Net occupancy expense		312,070			308,401			3,669			1.2
Outside processing and software		357,387			306,713			50,674			16.5
Equipment expense		204,038			206,921			(2,883	)		(1.4	)
Marketing and customer development		156,711			138,400			18,311			13.2
Other noninterest expense		874,984			905,595			(30,611	)		(3.4	)
Noninterest expense before Affordable Housing impairment charge, amortization of intangible assets and merger expense ⁴		4,439,401			4,268,862			170,539			4.0
Impairment charge on Affordable Housing Properties		33,722			9,001			24,721			274.6
Amortization of intangible assets		118,964			116,661			2,303			2.0
Merger expense		98,642			28,401			70,241			247.3
Total noninterest expense		4,690,729			4,422,925			267,804			6.1
INCOME BEFORE INCOME TAXES		2,858,909			2,625,339			233,570			8.9
Provision for income taxes		876,335			809,466			66,869			8.3
NET INCOME		1,982,574			1,815,873			166,701			9.2
Merger expense, net of tax		61,158			18,461			42,697			231.3
NET INCOME EXCLUDING MERGER EXPENSE		2,043,732			1,834,334			209,398			11.4
Net gain on sale of RCM assets, net of tax		(14,497	)		—			(14,497	)		(100.0	)
NET INCOME EXCLUDING MERGER EXPENSE AND NET GAIN ON SALE OF RCM ASSETS	$	2,029,235		$	1,834,334		$	194,901			10.6	%
REVENUE (Dollars in thousands)
Net interest income	$	4,578,966		$	4,265,027		$	313,939			7.4	%
FTE adjustment ⁵		75,492			65,125			10,367			15.9
Net interest income — FTE		4,654,458			4,330,152			324,306			7.5
Noninterest income		3,147,558			2,962,751			184,807			6.2


	HISTORICAL COMBINED
	Twelve Months Ended
	December 31						Increase/(Decrease)
	2005			2004			Amount			%
Total revenue		7,802,016			7,292,903			509,113			7.0
Securities losses		7,155			29,079			(21,924	)		(75.4	)
Net gain on sale of RCM assets		(23,382	)		—			(23,382	)		(100.0	)
Total revenue excluding securities gains/losses and net gain on sale of RCM assets	$	7,785,789		$	7,321,982		$	463,807			6.3	%
Noninterest expense	$	4,690,729		$	4,422,925		$	267,804			6.1	%
Merger expense		(98,642	)		(28,401	)		(70,241	)		247.3
Noninterest expense excluding merger expense	$	4,592,087		$	4,394,524		$	197,563			4.5	%
Efficiency ratio		60.12	%		60.65	%		(0.53	)		(0.9	)%
Impact of excluding merger expense		(1.26	)		(0.39	)		(0.87	)		224.7
Efficiency ratio excluding merger expense		58.86	%		60.26	%		(1.40	)		(2.3	)%
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans ⁶
Commercial	$	32,935		$	32,147		$	788			2.5	%
Real estate 1-4 family		27,092			20,847			6,245			30.0
Real estate commercial and construction		21,567			18,081			3,486			19.3
Real estate equity		12,361			9,916			2,445			24.7
Consumer ⁷		14,560			15,358			(798	)		(5.2	)
Credit cards		227			172			55			32.1
Total loans	$	108,742		$	96,521		$	12,221			12.7	%
Average deposits
Noninterest bearing deposits	$	24,315		$	23,033		$	1,282			5.6	%
NOW accounts		17,214			15,468			1,746			11.3
Money market accounts		25,589			24,249			1,340			5.5
Savings		6,320			8,497			(2,177	)		(25.6	)
Consumer and other time		19,917			15,840			4,077			25.7
Total consumer and commercial deposits		93,355			87,087			6,268			7.2
Brokered and foreign deposits		17,052			11,855			5,197			43.8
Total deposits	$	110,407		$	98,942		$	11,465			11.5	%


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


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

SunTrust presents noninterest income before securities gains/(losses) and net gain on the sale of RCM assets. The Company believes noninterest income before securities gains/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 an impairment charge on Affordable Housing Properties, 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 $13.1 million from the year ended 2004 to conform to SunTrust 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
APPENDIX B TO THE PRESS RELEASE, continued


	Twelve Months Ended
	December 31, 2004
	SunTrust			NCF			Historical Combined
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	3,685,155		$	579,872		$	4,265,027
Provision for loan losses		135,537			43,977			179,514
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		3,549,618			535,895			4,085,513
NONINTEREST INCOME
Deposit and other fees ¹		1,243,955			159,148			1,403,103
Trust and investment management income		586,783			48,414			635,197
Broker / dealer revenue ²		527,340			71,815			599,155
Other noninterest income		288,059			66,316			354,375
Noninterest income before securities gains/(losses)		2,646,137			345,693			2,991,830
Securities gains/(losses)		(41,691	)		12,612			(29,079	)
Total noninterest income		2,604,446			358,305			2,962,751
NONINTEREST EXPENSE
Personnel expense		2,168,313			234,519			2,402,832
Net occupancy expense		268,248			40,153			308,401
Outside processing and software		286,270			20,443			306,713
Equipment expense		184,865			22,056			206,921
Marketing and customer development		128,291			10,109			138,400
Other noninterest expense		746,067			159,528			905,595
Noninterest expense before Affordable Housing impairment charge, amortization of intangible assets and merger expense		3,782,054			486,808			4,268,862
Impairment charge on Affordable Housing Properties		9,001			—			9,001
Amortization of intangible assets		77,582			39,079			116,661
Merger expense		28,401			—			28,401
Total noninterest expense		3,897,038			525,887			4,422,925
INCOME BEFORE INCOME TAXES		2,257,026			368,313			2,625,339
Provision for income taxes		684,125			125,341			809,466
NET INCOME	$	1,572,901		$	242,972		$	1,815,873
REVENUE (Dollars in thousands)
Net interest income	$	3,685,155		$	579,872		$	4,265,027
FTE adjustment ³		58,398			6,727			65,125
Net interest income — FTE		3,743,553			586,599			4,330,152
Noninterest income		2,604,446			358,305			2,962,751
Total revenue		6,347,999			944,904			7,292,903
Securities (gains)/losses		41,691			(12,612	)		29,079
Total revenue excluding securities gains/losses	$	6,389,690		$	932,292		$	7,321,982
Noninterest expense	$	3,897,038		$	525,887		$	4,422,925
Merger expense		(28,401	)		—			(28,401	)
Noninterest expense excluding merger expense	$	3,868,637		$	525,887		$	4,394,524
Efficiency ratio		61.39	%		55.66	%		60.65
Impact of excluding merger expense		(0.45	)		—			(0.39	)
Efficiency ratio excluding merger expense		60.94	%		55.66	%		60.26


	Twelve Months Ended
	December 31, 2004
	SunTrust		NCF		Historical Combined
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans ⁴
Commercial	$	29,070	$	3,077	$	32,147
Real estate 1-4 family		20,048		799		20,847
Real estate commercial and construction		15,213		2,868		18,081
Real estate equity		8,503		1,413		9,916
Consumer ⁵		13,220		2,138		15,358
Credit cards		160		12		172
Total loans	$	86,214	$	10,307	$	96,521
Average deposits
Noninterest bearing deposits	$	21,047	$	1,986	$	23,033
NOW accounts		13,778		1,690		15,468
Money market accounts		22,865		1,384		24,249
Savings		7,225		1,272		8,497
Consumer and other time		12,177		3,663		15,840
Total consumer and commercial deposits		77,092		9,995		87,087
Brokered and foreign deposits		10,041		1,814		11,855
Total deposits	$	87,133	$	11,809	$	98,942


	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 $13.1 million from the year ended 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.

Greg Ketron

Barry Koling

(404)827-6714

(404)230-5268