EXHIBIT 11.1

SunTrust Banks, Inc.

Statement re: Computation of Per Share Earnings

(In thousands, except per share data)

	Year Ended December 31
	2004		2003		2002		2001		2000		1999
Basic
Income before extraordinary gain	$	1,572,901	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,123,952
Extraordinary gain, net of taxes		—		—		—		—		—		202,648
Net income	$	1,572,901	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,326,600
Average basic common shares		299,375		278,295		282,495		287,702		297,834		317,079
Income before extraordinary gain	$	5.25	$	4.79	$	4.71	$	4.78	$	4.35	$	3.54
Extraordinary gain, net of taxes		—		—		—		—		—		0.64
Earnings per common share - basic	$	5.25	$	4.79	$	4.71	$	4.78	$	4.35	$	4.18
Diluted
Income before extraordinary gain	$	1,572,901	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,123,952
Extraordinary gain, net of taxes		—		—		—		—		—		202,648
Net income	$	1,572,901	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,326,600
Average common shares outstanding		299,375		278,295		282,495		287,702		297,834		317,079
Incremental shares outstanding (1)		3,934		3,139		3,557		3,882		3,122		4,095
Average diluted common shares		303,309		281,434		286,052		291,584		300,956		321,174
Income before extraordinary gain	$	5.19	$	4.73	$	4.66	$	4.72	$	4.30	$	3.50
Extraordinary gain, net of taxes		—		—		—		—		—		0.63
Earnings per common share - diluted	$	5.19	$	4.73	$	4.66	$	4.72	$	4.30	$	4.13

(1) Includes the incremental effect of stock options and restricted stock outstanding computed under the treasury stock method.