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) November 3, 2006

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 (see General Instruction A.2. below):

¨ 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 7.01 Regulation FD Disclosure.

Representatives of SunTrust Banks, Inc. (the “Registrant”) are scheduled to make a presentation at the BancAnalysts Association of Boston 2006 Conference on Friday, November 3, 2006, at approximately 7:30 AM Eastern Time. A copy of the slide package to be used by the Registrant at this conference is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. Such slide package will also be available on the Registrant’s web site 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 into another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Current Report on Form 8-K. All information in the slide package speaks as of the date thereof and the Registrant does not assume any obligation to update said information in the future. In addition, the Registrant disclaims any inference regarding the materiality of such information which otherwise may arise as a result of its furnishing such information under Item 7.01 of this report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Slide package to be presented on November 3, 2006 (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: November 3, 2006	By:	/s/ David A. Wisniewski
		David A. Wisniewski,
		Group Vice President

EX-99.1

SunTrust Banks, Inc.

L. Phillip Humann

Chairman and Chief Executive Officer

BancAnalysts Association of Boston Conference

November 3, 2006

EXHIBIT 99.1

1

The following should be read in conjunction with the financial statements, notes and other information contained in the Company’s 2005 Annual Report

on Form 10-K, Quarterly Reports for the periods ended March 31, 2006 and June 30, 2006 on Form 10-Q and Current Reports on Form 8-K.

This presentation includes non-GAAP financial measures to describe SunTrust’s performance.  The reconciliation of those measures to GAAP

measures can be found in the appendix to this presentation, as well as in SunTrust’s earnings press releases, which can be found on SunTrust’s

website

in

the

news

section

of

the

investor

relations

pages.

In

this

presentation,

net

interest

income,

net

interest

margin

and

the

efficiency

ratio

are

presented on a fully taxable-equivalent (“FTE”) basis, and ratios are presented on an annualized 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.

The information in this presentation may contain forward-looking statements. Statements that are not historical or current facts, including statements

about beliefs and expectations, are forward-looking statements. These statements often include the words "believes," "expects," "anticipates,"

"estimates," "intends," "plans," "targets," "potentially," "probably," "projects," "outlook" or similar expressions or future conditional verbs such as "may,"

“will,”

“should,”

“would,”

and

"could."

Such

statements

are

based

upon

the

current

beliefs

and

expectations

of

SunTrust's

management

and

on

information currently available to management.  The forward looking statements are intended to be subject to the safe harbor provided by Section 27A

of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Such statements speak as of the date hereof, and SunTrust does

not intend

to

update

the

statements

made

herein

or

to

update

the

reasons

why

actual

results

could

differ

from

those

contained

in

such

statements

in

light

of new information or future events.

Forward looking statements involve significant risks and uncertainties.  Investors are cautioned against placing undue reliance on such statements.

Actual results

may

differ

materially

from

those

set

forth

in

the

forward-looking

statements.

Factors

that

could

cause

actual

results

to

differ

materially

from

those described in the forward-looking statements can be found in the Company's 2005 Annual Report on Form 10-K, in the Company’s Quarterly

Reports on Form 10-Q, and in the Current Reports on Form 8-K filed with the Securities and Exchange Commission and available at the Securities and

Exchange Commission's internet site (http://www.sec.gov). Those factors include: changes in general business or economic conditions, including

customers' ability to repay debt obligations, could have a material adverse effect on our financial condition and results of operations; changes in market

interest rates or capital markets could adversely affect our revenues and expenses, the value of assets and obligations, costs of capital, or liquidity; the

fiscal and monetary policies of the federal government and its agencies could have a material adverse effect on our earnings; significant changes in

securities

markets

or

markets

for

commercial

or

residential

real

estate

could

harm

our

revenues

and

profitability;

customers

could

pursue

alternatives

to

bank deposits, causing us to lose a relatively inexpensive source of funding; customers may decide not to use banks to complete their financial

transactions, which could affect net income; we have businesses other than banking, which subjects us to a variety of risks; hurricanes and other natural

disasters may adversely affect loan portfolios and operations and increase the cost of doing business; negative public opinion could damage our

reputation and adversely impact our business; we rely on other companies for key components of our business infrastructure; we depend on the

accuracy and completeness of information about clients and counterparties; regulation by federal and state agencies could adversely affect our

business, revenues, and profit margins; competition in the financial services industry is intense and could result in losing business or reducing profit

margins; future

legislation

could

harm

our

competitive

position;

maintaining

or

increasing

market

share

depends

on

market

acceptance

and

regulatory

approval of new products and services; our ability to receive dividends from our subsidiaries accounts for most of our revenues and could affect our

liquidity and ability to pay dividends; we have in the past and may in the future pursue acquisitions, which could affect costs and from which we may not

be able to realize anticipated benefits; we depend on the expertise of key personnel without whom our operations may suffer; we may be unable to hire

or retain additional qualified personnel and recruiting and compensation costs may increase as  a result of turnover, both of which may increase costs

and reduce

profitability

and

may

adversely

impact

our

ability

to

implement

our

business

strategy;

our

accounting

policies

and

methods

are

key

to

how

we report

financial

condition

and

results

of

operations,

and

may

require

management

to

make

estimates

about

matters

that

are

uncertain;

our

stock

price can be volatile; and our disclosure controls and procedures may fail to prevent or detect all errors or acts of fraud.

2

Managing in a Challenging Yield Curve

Environment

3

Changing the Paradigm of Balance Sheet Management

Historical

Future

•

EPS growth is good as long as

risk is low

•

Balance EPS objectives with other

financial ratios (ROA, NIM, etc.)

•

Balance sheet usage driven by

business line ability to originate

•

Largely ‘buy and hold’

philosophy

•

Challenge of having comparable

data across the lines of

business to allocate capital

effectively

•

Balance sheet usage planned,

monitored and actively managed,

as a whole, through the Portfolio

Management Committee and

ALCO processes

•

Consideration of multiple

alternatives for liquid asset

classes.  Promotion of

specialization

•

Comparability and transparency; 

LOB’s and functions are

accountable for generating value

at origination

4

Business Mix Management Overview: shaping the long-term view about the

clients we want to serve and the businesses we want to invest in

•

Periodically review our portfolio of businesses

(30) to ensure that we are making the right

investment choices

•

Have a view of what businesses are core to

SunTrust’s long-term strategy that is validated by

current and future performance and external

perspectives

•

Evaluate risk-adjusted profitability data to inform

strategic decisions

•

Provide high-level corporate direction to enhance

the one-

and five-year planning/budgeting

processes:

-

Relevance and importance to SunTrust’s

overall mix of businesses

-

Differentiated expense growth rates based

on where we want to focus investments

•

Identify opportunities to reallocate investment

dollars either through expense or productivity

initiatives or exiting, restructuring or selling select

businesses

Objectives

Shaping Our Long-Term Business View

Results

•

Divestiture of bond trustee

business

•

Capital restructuring plan

•

Securities portfolio

restructuring

•

Sold $3 billion in mortgage

and student loans

•

Divestiture of the stock

transfer business

•

Divestiture of certain

factoring assets

•

Other opportunities are

continuously being

evaluated

5

SunTrust’s Capital Targeting Plan

Source:  Company documents, SNL Financial

Note:

Peers

include

BB&T,

Fifth

Third,

PNC

Financial,

National

City,

U.S.

Bancorp,

Wachovia,

Regions

Financial,

KeyCorp,

Bank

of

America,

Wells

Fargo.

(1) Assumes 45% credit for pre-tax unrealized gains on Coca-Cola Co. common stock which roughly equates to 75% of the after-tax value.

Manage to a Tier 1 ratio of

approximately 7.50%

–

Inclusion of Coca

-Cola Stock

(1)

adds

59 bps to the Tier 1 Ratio as of Q2

2006

–

Taking into consideration the Coca-

Cola stock and SunTrust’s

lower risk

profile, the Tier 1 level is comparable

to peers

Capital Targeting Plan

Tier 1 Ratio:  SunTrust versus Peers

1

7.82

7.56

8.63

7.90

8.18

8.28

7.16

7.01

7.31

2004

2005

Q2 2006

7.50

Peer Average

STI + Coke

(1)

STI

6

SunTrust Action Steps

Planned

Action

Steps

and

Timing

(1)

Step 1: COMPLETED

Issued $500 million of DRD perpetual preferred securities

•

We

issued

$500

million

of

Preferred

Purchase

Securities

on

October

25

th

at

5.85%

for

the

first

5

years

•

We

entered

into

an

Accelerated

Share

Repurchase

agreement

on

October

19

th

to

repurchase

$875

million worth of common shares, or at least 9.927 million shares; the repurchase was effective

October 24

th

•

We

had

open

market

share

repurchases

that

totaled

$125

million

or

1.64

million

shares

in

the 3

quarter

•

Replace up to 100% of legacy trust preferred securities with enhanced trust preferred securities which

have greater equity content for rating agency purposes

Step 2: COMPLETED

Exchanged common equity for hybrid capital instruments

Step 3: PLANNED

Replace existing traditional trust preferred with enhanced trust

preferred securities –

4Q and beyond

(1)

Execution of the planned transactions is subject to market conditions.

•

We issued $500 million of perpetual preferred stock with a replacement capital

covenant on September 12

th

at 3-month LIBOR +53 bps   

rd

7

Size

Yield

Duration

MBS

795

$     

3.41%

1.4

Agencies

1,175

3.44%

1.4

ABS

342

3.53%

1.8

CMBS

412

3.47%

2.4

Corporates

220

3.50%

1.8

Total Sales

2,944

$  

3.45%

1.6

Size

Yield

Duration

MBS

463

$     

6.03%

5.3

CMBS

318

5.73%

5.1

Agencies

150

5.35%

4.4

Total Reinvestment

931

$     

5.82%

5.1

Size

Yield

Duration

5-Year Swaps

1,500

$  

5.50%

4.3

Wholesale Funding Reduction

513

5.32%

0.1

Total De-Levering

2,013

$  

5.45%

3.2

Total Reinvestment

and De-Levering

2,944

$  

5.57%

3.8

Portfolio Reinvestment

De-Levering

Sales Completed

Reinvestment and De-Levering Completed

Securities Portfolio Restructuring

•

The Company restructured a

portion of the investment

portfolio in the third quarter

•

The $92 million in securities

losses mainly resulted from the

restructuring

•

De-levered the balance sheet by

$2 billion

•

Combined reinvestment yield on

the securities, swap and funding

reduction was 5.57%, a 212 b.p.

yield improvement

•

Balance sheet duration extended

•

Estimated 12 month net interest

income pickup of approximately

$62 million or 1 –

2% lift in net

interest income

($ in millions)

8

Other

(1)

2%

Mortgage

3%

18%

4%

58%

11%

5%

4%

Net Interest

Income

Deposit

and Other

Fees

Other

(1)

Mortgage

Broker/Dealer

Trust and

Investment

Management

Diverse Revenue Stream

Revenue by Type of Income

September YTD 2006

Net Interest

Income

Deposit

and Other

Fees

Broker/Dealer

1%

Trust and

Investment

Management

1996

(1)

Other includes other noninterest income, securities gains/(losses) and the net gain on the sale of the bond trustee business in 2006.

14%

10%

70%

9

Balanced Revenue Mix Supports Growth in Various Cycles

Net Interest Income

3%

Fee Income

10%

Revenue

6%

September YTD 2006 vs. September YTD 2005

10

Disciplined Credit Risk Management

Annualized Net Charge-Offs/Average Loans

%

* Peers include Amsouth, Bank of America, BB&T, Comerica, Fifth

Third, First Horizon, Keycorp, M&T Bank, National City, PNC, Regions, US Bancorp, Wachovia and     

Wells Fargo.  Numbers presented for peers are averages. 

Source: SNL Financial.

0.12

0.10

0.08

0.17

0.27

0.13

0.14

0.21

0.24

-0.40

-0.20

0.00

0.20

0.40

0.60

0.80

1.00

1.20

3Q 2004

4Q 2004

1Q 2005

2Q 2005

3Q 2005

4Q 2005

1Q 2006

2Q 2006

3Q 2006

SunTrust

Peer Average*

High

Low

11

Commercial -

Commercial LOB

12%

Commercial Leasing

3%

Real Estate Home

Equity Lines

11%

Real Estate

Construction

10%

Consumer - Indirect

7%

Commercial - Other

LOBs

3%

Real Estate 1-4 Family

28%

Consumer - Direct

4%

Real Estate

Commercial

11%

Commercial - CIB

LOB

10%

Loan Portfolio

YTD Average Balances

Through

September

2006

(1)

Diverse Loan Portfolio

(1)

Excludes business credit card, nonaccrual and restructured loans as their aggregate contribution was less than 1%.

Commercial -

CIB

•

Diversified relationship-oriented

portfolio

•

Majority of our large corporate loans

carry an investment grade profile

•

No large industry concentrations

Real Estate Commercial

•

Well balanced by type and region

•

Owner occupied facilities represent

the largest segment of the portfolio

Real Estate Construction

•

Approximately 60% of RE Construction is Residential RE

related

•

Underwriting minimizes exposure to volatile, speculative

condo investor borrower activity

–

Typically requires minimum pre-sales from the

borrower, minimum equity from the borrower,

bonding of the borrower, minimum deposits from

buyers and limitations on investor contracts

•

Total condo construction outstandings = approximately

$500 million, less than ½% of the total portfolio

Real Estate 1-4 Family

•

Mortgage portfolio: WA credit

score = 734, over half the portfolio

has a score greater than 740, WA

LTV = 77%

•

Home equity loans: WA credit

score = 732, WA LTV = 71%, 1st

lien position on 48%

Real Estate Home Equity Lines

•

WA credit score = 742, WA LTV =

73%, 1st lien position on 29%

12

Key Consumer and Commercial Strategies

and Opportunities

13

0

40

80

120

160

200

240

Retail LOB Strategy: Building Branches in Key Areas

Source:  SNL,  09/30/06

We have added more

new branches in the

footprint than

competition

New Branch Activity in the SunTrust Footprint

January 2003 to September 2006

The building of new

branches since 2003

has been strategically

located in high growth

areas

8.8

13

Carolinas

8.5

47

Mid-Atlantic

12.8

57

Central

13.3%

102

Florida

2005 to 2010 Projected Weighted

Average Population Growth

New branches

since 2003

SunTrust Group

14

GA, FL, TN, VA, WV

102

Wal-Mart

352

Total

VA, TN, SC, FL

6

Other

SC

15

BI-LO

NC, FL

17

Harris Teeter

Washington DC, VA, MD

46

Safeway

GA

73

Publix

TN, GA, VA, WV, NC

93

Kroger

Locations

Current

Branches

The branch mix has shifted toward in-store growth as a complement to the large

traditional network

Retail LOB Strategy: In-Store Banking

More than 20% of

SunTrust branches                

are in-store locations

We are targeting the in-store channel

as a key strategy to:

Reduce capital expenditures

and operating costs 

-

The cost to construct an in-

store is 1/7

th

the cost of a

traditional branch

-

Operating costs run at 50% to

60% of the expense of a

traditional branch

Increase deposits

-

Additional client prospects

-

More rapidly expand the

network

-

Enhance client convenience

and increase retention with

extended hours, holiday

banking and convenient one-

stop shopping

15

New branches

Branches

opened prior to

2003

New branches

Branches

opened prior to

2003

0%

25%

50%

75%

100%

% of Branch Network

% of Net New

Checking Households

Branches opened prior to 2003

Branches opened since 2003

Sept. 05

Sept. 06

Investing in new in-store and traditional branches results in household growth

Retail LOB Strategy: Household Growth

•

New branches opened since 2003

represent 13% of our branch network, yet

contribute 22% of our net new checking

households

•

Our average owned deposits per in-store

branch increased 19% over September

2005

•

In new branches, in-stores are acquiring

almost as many new households as

traditional stores at a fraction of a cost

Net New Checking Households

(01/01/2003 to 09/30/2006)

Average Owned Deposits per

SunTrust In-Store Branch

16

Business

Banking

is

key

to

future

growth

with

higher

spreads

and

greater

profitability

•

Business Banking is a significant contributor:

–

Business Banking represents more than   

20% of total retail revenue

–

SunTrust ranks 3 

in Business Banking

market share in our footprint, according to a

2005 independent research study

–

Business clients return more than twice the

annual household profit of a consumer client

•

Business Banking still has many opportunities

for growth:

–

Business banking clients are served through

all channels with dedicated relationship

managers, online and call center support

–

More than 2 million business relationship

opportunities exist in our high growth footprint

–

Business Banking has the highest average

loan spread across all LOBs and the second

highest average deposit spread

Retail LOB Strategy: Business Banking

Business Banking

Consumer Banking

Contribution to Retail Revenue

YTD 09/2006

> 20%

rd

17

•

An enhanced business checking line-

up has resulted in:

–

Net new DDA/NOW account

growth of 20% over 2005

•

The Online Cash Manager allows

clients to bank from any location using

the internet

•

The offering of the Fast Access Small

Business Line of Credit product

helped drive a 67% increase in

business banking line of credit

production

•

Promotion of Commercial Mortgages

increased awareness and helped

drive growth of 23% over 2005

Enhancing exclusive products to meet the needs and preferences of business clients

helps develop relationships

Business Banking Line of

Credit Production

(in millions)

Business Banking Commercial

Mortgage Production

(in millions)

Retail LOB Strategy: Business Banking

$0

$100

$200

$300

$400

$500

YTD 09/2005

YTD 09/2006

$0

$100

$200

$300

$400

$500

$600

$700

YTD 09/2005

YTD 09/2006

18

•

The Portfolio includes many consumer lending

product offerings

•

Technology and process improvements have

helped:

Increase sales production

Speed up delivery times

Reduce headcount

•

We quickly respond to lending requests: 

97% of loans/lines are decisioned within 2

hours

•

Investing in technology, automation and

vendor management helps to minimize costs

and grow sales while refining an efficient

lending service

Since 2003, we have realized a significant

cost reduction, lowering average FTE

cost per unit 53%

Vendor management and negotiations

have led to a 12% cost reduction 3Q 2006

from 1Q 2005

Back office processes re-engineered for a more efficient delivery of equity products

Retail LOB Strategy: Streamlining Consumer Lending   

Consumer Lending Portfolio

Consumer

Direct

3%

Student with

Held for Sale

12%

Equity Lines

42%

Consumer

Equity Loans

12%

Personal

Credit Lines

1%

Indirect

Lending

30%

`

2003

September 2006

Cost per Lending Transaction

(Back Office FTE Cost Per Unit)

19

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

#1

#2

#1

#2

#1

#2

#1

#2

#3

#3

#3

#3

#2

#3

#5

#3

#4

#5

#5

#5

Commercial

LOB

Opportunity:

Market

Penetration

Source: A leading independent provider of syndicated market research to the commercial banking industry (2006).

Market Penetration and Ranking by Region

(Excludes Real Estate Developers and Investors)

•

Top three rank for market penetration in 15 of 20 regions

•

Significant market penetration opportunity exists in legacy NCF markets (Raleigh/Durham,

Charlotte, Greenville and Greensboro) and legacy SunTrust markets of South Florida and Maryland

Legacy NCF

Legacy SunTrust

20

Commercial

LOB

Strategy:

Relationship

Expansion

(1)

A 2005 study estimated

that by focusing on

cross-sell opportunities

in the Diversified

Commercial segment

we could increase

annual revenue at 9% -

13% CAGR (twice the

market growth rate)

over the next three

years.

While lending

represents the greatest

cross-sell opportunity,

non-lending financial

services make up 43%

of the opportunity

23%

11%

10%

34%

22%

Other (Retirement Services,

Corporate Trust, International

and Leasing)

Deposits (excluding Treasury

Management products)

Treasury Management

(including Sweep Investments

and Bankcard)

Non-Real Estate Loans

(including Letters of Credit)

Commercial Mortgages

Wallet Opportunity

By Product Category

(2)

Source: Analysis by independent consulting firm based on industry averages and review of SunTrust’s Diversified Commercial client portfolio.

(1)

Actual results

could

differ

materially

from

those

contained

in

or

implied

by

such

statements.

A

list

of

important

factors

that

could

affect

actual

results

are

listed

on

slide

1.

(2)

Does not include capital markets products such as interest rate derivatives, M&A or business valuation services.

Non-

Lending

Opportunity

43%

28%

40%

2005

2008

Aspiration

Total

Wallet

100%

SunTrust Diversified Commercial

Wallet Share

3-Year Incremental

Revenue Grows at

9%-13% CAGR

21

1st

Quintile

5th

Quintile

4th

Quintile

3rd

Quintile

2nd

Quintile

Commercial LOB Strategy:  Productivity

Most

Productive

Banks

Least

Productive

Banks

SunTrust Sales Force Productivity vs. Peer Banks

(Based on Rankings of Each Bank’s Averages Per RM)

Source: Member Supported Commercial Banking Industry Benchmarking Association, 2006 Survey.

Note:

Performance

quintiles

based

on

stack

ranking

of

each

institution’s

average,

e.g.

80

th

percentile

means

the

institution

ranks

20

th

out

of

100

institutions.

•

SunTrust Commercial Relationship

Manager productivity is in the top

two quintiles in most categories

•

Initiatives are underway to boost 

loan, deposit and fee production

•

Production, client profitability and

pricing improvement are tracked and

reported monthly

•

Relationship Manager incentives are

directly tied to new business

production, growth in portfolio

profitability and referrals to other

lines of business

Ranking

Average

Fee Production

Per RM

Deposit

Production per

RM

Loan Production

Per RM

Deposit Balances

Per RM

Loan Balances

Per RM

Commercial Real Estate

Core Commercial

22

Commercial LOB Opportunity:  Business Transitions

Through the

lifecycle

Relationship

Management

approach,

SunTrust

is

in

a

position

to assist business owners when they seek to monetize the investment in their company

Source:  Based on third-party research done in 2004 and published in 2005

% of Businesses Expecting a

Change in Ownership Within 10

Years (2005)

8%

9%

15%

In 6-10 Years (2009-2013)

In 3-5 Years (2007-2009)

Next 2 Years (2004-2006)

>$50 Million

Source:  Independent research analysis of the Federal Reserve’s Survey of Consumer

Finances

% of Owners’

Net Worth

Centered in Business Assets

(By Net Worth Tier, 2004)

>$500,000-

$1 Million

$1 Million-

$10 Million

$10 Million-

$50 Million

35.0%

49.5%

61.1%

86.0%

Net Worth Tier

23

Mortgage LOB Strategy: Sales Force Growth

Sales force excludes sales assistants.

(1)

Mortgage

Originator,

April,

2006.

“Top

200

2005

–

Dollar Volume”.

SunTrust Mortgage Sales Force Growth = 32% CAGR

Results

•

Retained 98% of Top

Producers

•

Average annual

production per loan

officer = $20MM

•

18 SunTrust loan

officers recently listed

in Mortgage

Originator’s

“Top 200

Originators 2005”

(1)

0

500

1,000

1,500

2,000

2,500

2002

2003

2004

2005

2006E

24

0

5

10

15

20

25

30

35

2002

2003

2004

2005

2006E

SunTrust Mortgage Purchase Volume

Market Share Source: Inside Mortgage Finance.

.95%

1.16%

1.23%

2.00%

SunTrust Mortgage Purchase Market Share

Sales Force Growth Drives Purchase Volume and Market Share Growth

SunTrust

Mortgage

Purchase

Originations

Growth =

35% CAGR

2.20%

Mortgage LOB: Market Share Growth

25

Up From

#18 in

2004

#11 in

2005

Source: Inside Mortgage Finance.

Mortgage LOB: Increasing Market Share

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

Wells Fargo Home Mortgage, IA

Countrywide Financial, CA

Chase Home Finance, NJ

CitiMortgage Inc., MO

Washington Mutual, WA

Bank of America Mtg. & Affiliates, NC

EMC Mortgage Corp/Bear Stearns, TX

Residential Funding Corp., MN

SunTrust Mortgage Inc., VA

IndyMac, CA

PHH Mortgage, NJ

American Home Mortgage Corp., NY

New Century Financial Corp., CA

GMAC Residential Holding Corp., PA

National City Mortgage Co., OH

First Horizon Home Loans, TX

WMC Mortgage Corp., CA

ABN AMRO Mortgage Group, MI

Fremont General Corp., CA

First Franklin Financial, CA

$140.28

$101.77

$50.33

$45.00

$34.29

$24.46

$23.93

$17.77

$17.50

$16.06

$14.67

$13.67

$13.30

$13.04

$10.91

$9.90

$9.01

$8.90

$8.64

$8.61

18.0%

13.0%

6.4%

5.8%

4.4%

3.1%

3.1%

2.3%

2.2%

2.1%

1.9%

1.8%

1.7%

1.7%

1.4%

1.3%

1.2%

1.1%

1.1%

1.1%

Rank

Name

2006

Volume

Market

Share

1

st

Half of 2006

Purchase Market Share

26

Mortgage LOB: Regional Market Share and Ranking

2

3

5

Tampa

3

3

6

Southwest

Florida

8

9

17

South Florida

3

4

4

North Florida

2

3

4

Central Florida

2

2

4

Nashville

4

11

Memphis

1

1

1

Georgia

1

2

3

East Tennessee

1

1

1

Chattanooga

1

1

2

Atlanta

YTD 2006

Ranking

(3)

2005

Ranking

(2)

2004

Ranking

(2)

Region

2

Maryland

4

6

9

Hampton Roads

1

3

2

Western Virginia

4

6

9

Northern

Virginia

1

1

1

Central Virginia

2

5

3

Triangle

4

5

6

Triad

5

5

7

South Carolina

4

5

9

Mecklenberg

3

3

2

Hilton Head

YTD 2006

Ranking

(3)

2005

Ranking

(2)

2004

Ranking

(2)

Region

(1)

Actual results

could

differ

materially

from

those

contained

in

or

implied

by

such

statements.

A

list

of

important

factors

that

could

affect

actual

results

are

listed

on

slide

1.

(2)

Source: HMDA 2004 and 2005 Data

(3)

Source:

Available Courthouse Records, compiled by HIB Consulting LLC

Long-Term

Goal:

#1

originator

in

every

footprint

market

(1)

Today: #1 in 6 regions (29%); 5

th

or better in 20 of 21 regions (95%)

27

Mortgage LOB Opportunity: Leveraging Customer Relationships

Today

13.0% of SunTrust

Homeowners with a

SunTrust Mortgage

35% of SunTrust

Homeowners with a

SunTrust Mortgage

(1)

SunTrust Mortgage’s

Goal

Benefit

Represents

Approximately $100

Billion in Mortgage

Loans

(1)

(1)

Actual results could differ materially from those contained in or implied by such statements.  A list of important factors that could affect actual results are listed on slide 1.

28

Mortgage LOB Strategy: Mortgage Transformation Program

Key Milestones

Timeline

3Q2007

2Q2006

2Q2007

4Q2007

Business Process

Standardization

Retail Technology

Delivery

Retail Deployment

Third-Party

Technology Delivery

Third-Party

Deployment

1Q2007

4Q2006

3Q2006

A New State-of-the-Art Lending Platform Will Be Deployed In 2007

•

100% of files imaged 2007/2008

•

Deliver loans to investor using images instead of

paper  2007/2008

•

Reduced turn times and improved back office

capacity

•

Streamlined business workflow processes

•

Reduce mortgage processing timeframe (time from

borrower contact to secondary market sale) from 61-110

days to 15 days

•

Install fraud detection applications and services to

combat growing industry problem.

•

Reduce number of processing systems from three to

one

•

Install valuation analytic software to reduce

appraisal costs and improve valuation quality

•

Reduce number of origination systems from four to 

one

Key Features & Benefits

29

Mortgage LOB Strategy: Efficiency

(1)

Source: Wholesale

Access

Benchmarking

of

Production

Revenue

and

Expense

(Wholesale

Access

Mortgage

Research

&

Consulting),

FY05.

(2)

Source:

MBA/STRATMOR

Peer

Group

Survey

and

Roundtables

(Mortgage

Bankers

Association

and

STRATMOR

Group),

FY05.

Consistently Lower Costs Than Our Peers

Retail Originations

14% Lower Cost-per-Loan

(1)

Broker Originations

28% Lower Cost-per-Loan

(1)

Correspondent Originations

16% Lower Cost-per-

Loan

(1)

Mortgage Servicing

23% Lower Direct Annual

Cost-per-Loan

(2)

30

The Bottom Line

31

(1)

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

(2)

Based on GAAP EPS.

GAAP EPS

0.06

0.17

0.14

0.37

0.10

0.09

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

$5.00

$5.50

$6.00

EPS

(1)

Reduction in EPS due to merger-related charges

CAGR = 10%

(2)

EPS Growth

September YTD EPS = $4.42

32

Growing the Dividend

CAGR = 11%

Current Quarterly Dividend = $0.61

(1)

2006 implied dividend.

0.83

0.93

1.00

1.38

1.48

1.60

1.72

1.80

2.00

2.20

2.44

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

(1)

33

38

40

41

38

37

34

34

33

36

33

33

50

39

52

62

74

86

105

68

106

79

110

0

20

40

60

80

100

120

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

YTD 2006

Dividend

Buyback

Returning Capital to Common Equity Shareholders

SunTrust returned over 70% of earnings on average to common shareholders during this period

%

Total Payout Average = 79%

Dividends = 35%

Buyback = 44%

NCF Acquisition

Impact

(1)

(1)

Includes the Accelerated Share Repurchase program announced in October 2006.  Ratio is calculated using the net income for the first nine months of 2006.

(2)

Buyback amounts shown in chart are before any reduction from other capital stock issuances.

(2)

SunTrust Banks, Inc.

L. Phillip Humann

Chairman and Chief Executive Officer

BancAnalysts Association of Boston Conference

November 3, 2006