SunTrust Banks, Inc.

4Q 2006 Earnings Presentation

January 19, 2007

Exhibit 99.2

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,

June

30,

2006

and

September

30,

2006

on

Form

10-Q

and

Current

Reports

on

Form

8-K.

This

presentation

may

include

non-GAAP

financial

measures

to

describe

SunTrust’s

performance.

The

reconciliation

of

those

measures

to

GAAP

measures

can

be

found

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

and

net

interest

margin

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

do

not

describe

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

the

business

strategy;

our

accounting

policies

and

methods

are

key

to

how

we

report

financial

condition

and

results

of

operation,

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

Strategic Priorities

Managing Talent

Delivering Growth

Increasing Efficiency

and Productivity

Improving

Performance

Streamlining Process

Managing Talent

Delivering Growth

Increasing Efficiency

and Productivity

Improving

Performance

Streamlining Process

3

Efficiency and Productivity

The E

2

Program: Excellence in Execution

Estimated Total Expense Reduction

(1)

(2)

Does not include one-time costs associated with implementation, including severance.

Included in 2007 outlook for noninterest expense provided on October 17, 2006.

($ in millions)

(1)

Cumulative

Total

2007

2008

2009

(2)

Cost Saves

Achieved by

End of Period

Corporate Real Estate

Supplier Management

Offshoring/Outsourcing

Process Reengineering

Organizational Review

75

115

45

55

110

TOTAL 

$

$135

$250

$400

$400

4

Additional Investment in Growth and E²

Initiatives in 2007

Additional Investments in Initiatives

Growth Businesses: High Growth Potential,

Profit Margins and RAROC

•

Retail: Business Banking, Consumer

Lending, De Novo Branches

•

Mortgage: Origination and Servicing

•

CIB: Debt Capital Markets

•

Wealth and Investment Management:

High Growth Segments

E²

Program

•

Corporate Real Estate

•

Offshoring/Outsourcing

$70 million

$20 million

~

~

~

~

5

2005

4Q 2005

Income Statement Overview

Net Interest Income (FTE)

Noninterest Income

Total Revenue (FTE)

Total Noninterest Expense

Provision for Income Taxes

Net Income Available to 

Common Shareholders

Diluted Net Income Per

Average Common Share

($ in millions, except per share data)

$1,185

883

2,068

1,234

203

$524

$1.46

4Q 2006

% Change vs.

(2)%

11%

3%

2%

(4)%

1%

2%

$4,748

3,468

8,217

4,880

884

$2,135

$5.88

2%

10%

5%

4%

1%

7%

7%

% Change vs.

Full Year

Full Year

2006

(1)

(1)

Includes

merger-related

expenses

of

$6.5

million

in

4Q

2005

and

$98.6

million

in

2005.

(1)

6

Balance Sheet Overview

Real Estate 1-4 Family

Real Estate Construction

Real Estate Home Equity Lines

Real Estate Commercial

Commercial –

FTE

Consumer –

Direct

Consumer –

Indirect

Total Loans

Total Securities Available for Sale -

FTE

Total Earning Assets

Noninterest-Bearing Deposits

NOW Accounts

Money Market Accounts

Savings

Consumer Time

Other Time

Total Consumer and Commercial Deposits

(Average balances, $ in billions)

$34.3

13.2

13.7

12.8

34.0

4.1

8.2

121.4

23.2

160.1

22.6

18.4

23.1

5.4

16.7

12.3

98.6

4Q 2006

4Q 2005

15%

30%

5%

-

3%

(24)%

(8)%

7%

(7)%

4%

(9)%

8%

(11)%

(1)%

26%

36%

3%

% Change vs.

7

Capital Restructuring Plan Summary

Issuance

$500 Million Perpetual

Preferred Stock

$500 Million Preferred Purchase

Security

$1 Billion Share Repurchase

($871mm ASR + $126mm market)

$1 Billion Enhanced TRuP

Call $1 Billion Existing TRuPs

Timing

Pricing

5.92%

3ML+0.53%

5.853%

(5yT+1.125%)

-

6.10%

(30yT+1.48%)

$12 million loss

Sept. 5

Oct. 18

3Q/4Q

Nov. 29

Oct/Dec

Capital Ratios

Before Plan

After Plan

Tier 1

Tangible Equity to Tangible Assets

7.31%

5.81%

7.65%

6.05%

(1)

(1)

At 6/30/2006

(2)

(2)

At 12/31/2006, estimated as of the earnings release date

8

(1)

Includes the Accelerated Share Repurchase program announced in October 2006.

(2)

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

38

40

41

38

37

34

34

33

36

33

33

50

39

52

62

74

86

105

68

106

79

93

0

20

40

60

80

100

120

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

Dividend

Buyback

Returning Capital to Common Equity Shareholders

SunTrust returned 74% of earnings on average to common shareholders during this period

%

Total Payout Average = 79%

Dividends = 35%

Buyback = 44%

NCF Acquisition

Impact

(1)

(2)