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) January 23, 2008

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 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure”. Consequently, it is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

On January 23, 2008, SunTrust Banks, Inc. (the “Registrant”) announced financial results for the full year and the fourth quarter ended December 31, 2007. A copy of the News Release announcing the Registrant’s results for the year and fourth quarter ended December 31, 2007 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The Registrant intends to hold an investor call and webcast to discuss financial results for the year and fourth quarter ended December 31, 2007 on January 23, 2008, at 8:00 a.m. Eastern time. Additional presentation materials relating to such call are attached hereto as Exhibit 99.2 and are incorporated herein by reference.

All information in the news release and the presentation materials speak 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 2.02 and/or Item 7.01 of this report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1	News release dated January 23, 2008 (furnished with the Commission as a part of this Form 8-K).
99.2	Presentation materials dated January 23, 2008 (furnished with the Commission as a part of this 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: January 23, 2008.	By:	/s/ Thomas E. Panther
		Thomas E. Panther,
		Senior Vice President and Controller

EX-99.1

Exhibit 99.1

      News Release

Contact:
Investors	Media
Steve Shriner	Barry Koling
(404) 827-6714	(404) 230-5268

For Immediate Release

January 23, 2008

SunTrust Reports Fourth Quarter 2007 Earnings

Results Reflect Industry Pressures: Credit Cycle & Market Valuation Write-Downs

ATLANTA — SunTrust Banks, Inc. (NYSE: STI) reported net income available to common shareholders of $1,603.7 million, or $4.55 per average common diluted share for 2007 compared to $2,109.7 million, or $5.82 per average common diluted share last year. The Company’s 2007 results were adversely impacted by declines in the market value of recently acquired asset-backed securities, as well as credit losses related to residential real estate loans. Increased delinquencies in mortgage-related loans and declines in home values have hampered the liquidity and value of assets tied to the residential real estate market. Net income available to common shareholders in the fourth quarter of 2007 was $3.3 million, down from $498.6 million in the fourth quarter of 2006. Net income per average common diluted share was $0.01 compared to $1.39 in the fourth quarter of 2006.

“Continued progress in implementing shareholder value-oriented initiatives at SunTrust was eclipsed in the fourth quarter by the impact of industry-wide pressures, notably rapid deterioration of the residential real estate market, the change in the credit cycle and consumer credit quality, and the resulting impact on liquidity in the financial markets,” said James M. Wells III, President and Chief Executive Officer of SunTrust. Mr. Wells noted that modest growth in net interest income, double-digit growth in several fee-related products, and disciplined expense management were not sufficient to overcome the losses resulting from the deterioration in the credit markets.

Despite the very difficult operating environment, the Company continues to make considerable progress on the E² Efficiency and Productivity Program. The estimated gross cost savings in 2007 were $215 million, which is 119% of the revised goal of $181 million and significantly above the original $135 million target. The Company continues to realize savings as a result of the E² initiatives and is well positioned going into 2008 to continue to more efficiently utilize resources while enhancing the overall customer service experience for clients.

Market Valuation Losses

In aggregate, the Company recorded net market valuation losses of $555 million during the quarter. The Company recorded approximately $510 million in market valuation losses related to securities that were purchased during the fourth quarter from certain money market funds that are managed by Trusco Capital Management, a subsidiary of the Company, as well as Three Pillars Funding LLC, a multi-seller commercial paper conduit sponsored by the Company. At the time of purchase, these securities were predominantly AAA or AA-rated, short dated residential mortgage-backed securities, Structured Investment Vehicles (“SIVs”), and corporate and consumer collateralized debt obligations. These mark-downs reflect the lack of liquidity in the market for these securities, deterioration in the credit quality of the underlying assets, and/or the fact that the respective investment vehicle has entered restructuring proceedings. The Company also recognized in the fourth quarter approximately $45 million in net market valuation losses related to its trading and securitization assets, mortgage loan valuation write-downs, and a net write-up in SunTrust corporate debt. Also significantly impacting the fourth quarter was $356.8 million in provision for loan losses, which was driven by deterioration in the residential real estate market.

The full year results include approximately $700 million in market valuation losses related to the asset-backed securities, the mortgage loan warehouse, and the capital markets warehouse and residual interests, net of market valuation gains on the Company’s debt carried at fair value.

Financial Highlights

	4th Quarter 2007			4th Quarter 2006					Full Year 2007			Full Year 2006			Change
							Change
Income Statement
(Dollars in millions, except per share data)
Net income available to common shareholders	$	3.3		$	498.6		(99.3	)%	$	1,603.7		$	2,109.7		(24.0	)%
Net income per average common diluted share		0.01			1.39		(99.3	)%		4.55			5.82		(21.8	)%
Total revenue – fully taxable-equivalent		1,770.8			2,067.8		(14.4	)%		8,250.9			8,216.8		0.4	%
Provision for loan losses		356.8			115.8		NM			664.9			262.5		NM
Noninterest income		576.0			882.6		(34.7	)%		3,428.7			3,468.4		(1.1	)%
Noninterest expense		1,455.3			1,233.8		18.0	%		5,233.8			4,879.9		7.3	%
Net interest margin		3.13	%		2.94	%	19 bps			3.11	%		3.00	%	11 bps
Balance Sheet
(Dollars in billions)
Average loans	$	121.1		$	121.4		(0.2	)%	$	120.1		$	119.6		0.4	%
Average consumer and commercial deposits		99.6			98.6		1.1	%		98.0			97.2		0.9	%
Capital
Tier 1 capital ratio (1)		7.00	%		7.72	%
Total average shareholders’ equity to total average assets		10.30	%		9.96	%
Tangible equity to tangible assets		6.28	%		6.03	%
Asset Quality
Net charge-offs to average loans (annualized)		0.55	%		0.52	%				0.35	%		0.21	%
Nonperforming loans to total loans		1.19	%		0.44	%
(1) Current period Tier 1 capital ratio is estimated as of the earnings release date.     NM – Not meaningful. Those changes over 100% were not considered to be meaningful.

• Net market valuation losses and an increase in provision for loan losses adversely impacted fourth quarter income resulting in a pre-tax loss of $68.6 million. Net income available to common shareholders was $3.3 million.

• For the fourth quarter, fully taxable-equivalent total revenue decreased $297.0 million, or 14.4%. The $555 million in net market valuation losses recognized in the fourth quarter were partially offset by growth in net interest income, fee-related noninterest income, and real estate related gains.

• Fully taxable-equivalent net interest income increased 0.8% in the fourth quarter over the same quarter last year and 1.6% in 2007 over 2006 due to balance sheet management strategies that the Company implemented in 2006 and 2007.

• Fourth quarter 2007 noninterest income declined $306.6 million, or 34.7%, due to the net market valuation adjustments of approximately $555 million. The decline was partially offset by strong growth in service charges on deposits, retail investment services, card fees, and mortgage servicing income.

• Total average loans in the fourth quarter were flat compared to the fourth quarter of 2006 due to the Company’s balance sheet management strategies implemented in 2007, but increased $1.5 billion, or 1.3%, compared to the third quarter of 2007.

• Total average consumer and commercial deposits increased $1.1 billion, or 1.1%, compared to the fourth quarter of 2006 and $2.9 billion, or 3.0%, compared to the third quarter of 2007. The increase was primarily in interest bearing categories.

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CONSOLIDATED FINANCIAL PERFORMANCE

Revenue

Fully taxable-equivalent total revenue was $1,770.8 million for the fourth quarter of 2007, down $297.0 million, or 14.4%, compared to the fourth quarter of 2006. The decline was primarily attributable to $555 million in net market valuation losses related to the write-down of certain asset-backed securities, as well as mortgage loan warehouse and trading and securitization assets. These net market valuation losses were partially offset by growth in net interest income, fee-related noninterest income, and a net gain from sale leaseback transactions.

For the year ended December 31, 2007, fully taxable-equivalent total revenue was $8,250.9 million, an increase of 0.4% over 2006. Total revenue includes approximately $700 million in net market valuation related losses, which were offset by growth in net interest income, the $234.8 million gain on sale of Coke stock, fee-related noninterest income, and other gains, including real estate related gains from various sale leaseback transactions executed during 2007.

Net Interest Income

For the fourth quarter of 2007, fully taxable-equivalent net interest income was $1,194.8 million, up slightly compared to the prior year and down $24.4 million, or 2.0%, compared to the prior quarter. Net interest income growth in the fourth quarter was constrained due to asset yields tied to the prime rate declining in lock-step with Federal Reserve reductions while deposit rates were declining to a lesser extent due to deposit competition. Net interest margin for the fourth quarter of 2007 was 3.13%, an increase of 19 basis points over the fourth quarter of 2006. During 2007, the Company was able to reduce lower yielding assets and de-leverage the balance sheet by reducing higher cost wholesale deposits as part of its balance sheet management strategies. Compared to third quarter of 2007, net interest margin declined 5 basis points due to the prime rate based asset yields declining faster than deposit rates.

For the year ended December 31, 2007, fully taxable-equivalent net interest income was $4,822.2 million, up $73.8 million, or 1.6%, compared to 2006. Net interest margin was 3.11% compared to 3.00% in 2006. The increase in net interest income and net interest margin was due to the Company’s balance sheet management initiatives that were implemented in 2006 and 2007.

Noninterest Income

Total noninterest income was $576.0 million for the fourth quarter of 2007, which was $306.6 million, or 34.7%, below prior year. The fourth quarter included net market valuation losses of approximately $555 million related to market value declines in asset-backed securities, as well as valuation declines in mortgage loans held for sale, and trading and securitization assets. Mortgage-related income increased $23.3 million, or 41.2%, compared to the fourth quarter of 2006 due to higher servicing income generated from the servicing portfolio, which increased over 15% in 2007, and a $19.2 million gain on sale of mortgage servicing rights. Mortgage-related income is also estimated to have increased approximately $34 million due to the Company electing to record at fair value certain newly-originated mortgage loans held for sale. The increase in mortgage-related income was partially offset by approximately $78 million in mortgage loan valuation losses. Investment banking income decreased $16.2 million, or 22.7%, due to lower securitization and syndicated finance activities. Compared to the fourth quarter of 2006, service charges on deposit accounts, card fees, and retail investment services income each grew in excess of 10%. The Company also recognized a net gain of $118.8 million from the sale leaseback of branch and office properties.

For the year ended December 31, 2007, noninterest income was $3,428.7 million, which was $39.7 million, or 1.1%, below 2006. The Company recognized approximately $700 million in net market valuation losses related to the purchase of asset-backed securities and market value declines in the mortgage loan warehouse and securitization and trading assets. Trust and investment management income was flat compared to prior year, despite the sale of the bond trustee business in the third quarter of 2006 and the

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merger of Lighthouse Partners in the first quarter of 2007. Service charges on deposit accounts increased $58.3 million, or 7.6%, over 2006 due primarily to higher NSF fees. Card fees were up $33.1 million, or 13.3%, on higher interchange income. Retail investment services increased $44.1 million, or 18.8%, due to higher annuity sales and higher recurring managed account fees. Mortgage servicing income increased $73.7 million, or 60.5%, primarily due to the larger servicing portfolio. Mortgage production was $58.3 billion in 2007 compared to $55.4 billion in 2006; however, mortgage production-related income declined $126.4 million, or 58.2%, due to $165.4 million in net valuation losses from the widening of credit spreads related to mortgage loans held for sale. The Company also recognized a gain on the sale of shares of The Coca Cola Company stock of $234.8 million in 2007. Other gains from the sale of assets included a $118.8 million net gain from several sale leaseback transactions and a $32.3 million gain from the merger of Lighthouse Partners in 2007. In 2006, the Company recognized a $112.8 million gain on the sale of its bond trustee business and $50.5 million in losses on the sale of available for sale securities.

Noninterest Expense

For the fourth quarter 2007, noninterest expense was $1,455.3 million, an increase of $221.6 million, or 18.0%, over the fourth quarter of 2006. The increase was driven by a $76.9 million accrual for Visa litigation and $57.7 million in write-downs related to Affordable Housing properties, compared to $11.8 million in Affordable Housing related write-downs recognized in 2006. In addition, the Company increased its marketing expenses $13.9 million related to various deposit growth initiatives. Operating losses increased $27.9 million primarily related to mortgage application fraud. Employee compensation expenses increased $25.7 million, which was attributable to approximately $34 million of additional compensation expense related to the Company’s election in 2007 to record at fair value certain newly-originated mortgage loans held for sale. Under this election, costs associated with the origination of mortgage loans held for sale are recognized as a component of compensation expense when the loan is originated. Prior to the election, these costs were deferred and recognized as part of gain/loss on the sale of the loan. Partially offsetting the increase in employee compensation expense was a decrease in salary expense as a result of total personnel decreasing from 33,599 at December 31, 2006, to 32,323 at December 31, 2007. The remaining increase in expense is primarily the result of credit related expenses, occupancy, equipment, and outside processing expenses.

For the year ended December 31, 2007, total noninterest expense was $5,233.8, an increase of $353.9 million, or 7.3%, over 2006. In addition to the items previously discussed, the full year impact of the increase in employee compensation expense attributable to the election in 2007 to record certain newly-originated mortgage loans held for sale was approximately $78 million. The Company incurred implementation costs of $61.7 million related to the Company’s E² Efficiency and Productivity Program, which includes $45 million in severance expense. Partially offsetting the expense increase was a $33.6 million reduction in the accrued liability related to the call of a capital instrument. Taking into consideration the incremental impact of these items, expense growth for the year was 2.6%, which was attributable to certain expenses associated with the change in the credit cycle.

Provision for Income Taxes

For the fourth quarter, the Company recognized a tax benefit of $79.7 million compared to a tax provision of $187.9 million recognized in the fourth quarter of 2006. The tax benefit was the result of the lower than anticipated fourth quarter earnings, which resulted in an annual effective tax rate of 27.4% in 2007 compared to an annual effective tax rate of 29.1% in 2006.

Balance Sheet

As of December 31, 2007, SunTrust had total assets of $179.6 billion and shareholders’ equity was $18.1 billion, representing 10.1% of total assets. Book value per common share was $50.38 as of December 31, 2007.

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Loans

Average loans for the fourth quarter of 2007 were $121.1 billion, which was down slightly compared to the fourth quarter of 2006. Average residential real estate loans declined $2.4 billion, or 6.9%, from the fourth quarter 2006, which was offset by growth in real estate home equity loans and commercial loans. Average loans in the fourth quarter of 2007 increased $1.5 billion, or 1.3%, over the third quarter due to commercial loan growth and the transfer of approximately $840 million in residential real estate loans from loans held for sale due to the lack of marketability of the loans and SunTrust’s intent to hold these loans to maturity. For the fourth quarter of 2007, average loans held for sale declined $3.2 billion, or 26.9%, compared to the same period of 2006 primarily due to the lower mortgage production volume and the aforementioned transfer of loans held for sale.

Deposits

Average consumer and commercial deposits were $99.6 billion for the fourth quarter of 2007, an increase of $2.9 billion, or 3.0%, compared to the third quarter of 2007 and $1.1 billion, or 1.1%, compared to the fourth quarter of 2006. The increase was driven by growth in NOW, money market, and time deposits, partially offset by declines in savings accounts and demand deposit balances. Average balances for brokered and foreign deposits declined $5.4 billion in the fourth quarter of 2007 as compared to the third quarter of 2007, as the Company was able to reduce its reliance on higher cost sources of funding.

Capital

The estimated Tier 1 capital and tangible equity to tangible asset ratios at December 31, 2007, were 7.00% and 6.28%, respectively, a decline of 44 and 4 basis points compared to September 30, 2007. The decline is attributable to lower net income in the fourth quarter of 2007, higher risk-weighted assets from the purchase of certain investment securities, as well as the redemption of a capital instrument during the fourth quarter. The Company continues to target a Tier 1 capital ratio of 7.5%.

Asset Quality

Net charge-offs for the fourth quarter were $168.0 million compared to $158.6 million for the fourth quarter in 2006. The fourth quarter of 2006 includes charge-offs related to a large commercial loan. Annualized net-charge offs to average loans for the quarter ended December 31, 2007, was 0.55% compared to 0.34% for the quarter ended September 30, 2007. The increase in net charge-offs was primarily related to consumer and residential real estate loans. Annual net charge-offs in 2007 were $422.8 million compared to $246.1 million in 2006. The corresponding net charge-off ratios were 0.35% and 0.21%, respectively. The increase was also due to consumer and residential real estate related loans.

Total nonperforming loans were $1,460.3 billion, or 1.19% of total loans as of December 31, 2007, compared to $1,003.8 million, or 0.83% of total loans as of September 30, 2007. The increase in nonperforming loans was most pronounced in residential real estate and construction loans and relates to the overall downturn in the housing market.

The allowance for loan and lease losses was $1,282.5 million as of December 31, 2007, which was 1.05% of total loans. As of September 30, 2007, the allowance for loan and lease losses was 0.91% of total loans. The allowance for loan and lease losses increased $188.8 million due to an increased expectation for charge-offs primarily related to consumer and residential real estate loans.

LINE OF BUSINESS FINANCIAL PERFORMANCE

The following discussion details results for SunTrust’s five business lines: Retail, Commercial, Corporate and Investment Banking, Mortgage, and Wealth and Investment Management. All revenue is reported on a fully taxable-equivalent basis. For the lines of business, results include net interest income which is computed using matched-maturity funds transfer pricing. Further, provision for loan losses is represented by net charge-offs.

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SunTrust also reports results for Corporate Other and Treasury, which includes the Treasury department as well as the residual expense associated with operational and support expense allocations. This segment also includes differences created between internal management accounting practices and Generally Accepted Accounting Principles, certain matched-maturity funds transfer pricing credits and charges, differences in provision expense compared to net charge-offs, as well as equity and its related impact.

Retail

Three Months Ended December 31, 2007 vs. 2006

Retail’s net income for the fourth quarter of 2007 was $126.4 million, a decrease of $50.1 million, or 28.4%, compared to the fourth quarter of 2006. This decrease was primarily the result of higher provision expense and lower net interest income, partially offset by higher noninterest income.

Net interest income decreased $37.1 million, or 6.3%, driven by a continued shift in deposit mix and decreased spreads, as customers continue to migrate into higher yielding interest bearing accounts. Net interest income on deposits decreased $39.5 million, as average deposits declined $2.0 billion primarily due to a decrease in average demand deposits and savings account balances, as both consumer and small business clients moved excess balances to higher rate deposit products. Positively impacting net interest income was a $924.2 million, or 3.0%, increase in average loan balances driven by growth in home equity and commercial loans which grew 6.5% and 14.0%, respectively, over the fourth quarter of 2006.

Provision for loan losses increased $60.2 million over the same period in 2006. The provision increase was most pronounced in home equity, indirect auto and commercial loans, reflecting the negative impact from the current deterioration in certain segments of the consumer portfolio, primarily related to the residential real estate market.

Total noninterest income increased $34.5 million, or 13.4%, from the fourth quarter of 2006. This increase was driven primarily by a $26.1 million, or 17.4%, increase in service charges on deposit accounts from both consumer and business accounts primarily due to higher NSF fees.

Total noninterest expense increased $17.7 million, or 3.3%, primarily driven by personnel expense which increased 3.4% over the fourth quarter 2006 due in part to branch personnel expense. Other expenses related to investments in the branch distribution network and business banking also drove the increase.

Twelve Months Ended December 31, 2007 vs. 2006

Retail’s net income for the twelve months ended December 31, 2007, was $602.1 million, a decrease of $113.4 million, or 15.9%, compared to the same period in 2006. The decrease was primarily the result of higher provision expense and lower net interest income, partially offset by higher noninterest income.

Net interest income decreased $58.2 million, or 2.5%, driven by a shift in deposit mix and compressed spreads as deposit competition and the interest rate environment encouraged customers to migrate into higher yielding interest bearing accounts. Average deposits decreased $761.5 million, or 1.1% year over year, as increases in certain higher-cost NOW account products and time deposits were offset by declines in demand deposits and certain lower-cost money market accounts. Positively impacting net interest income was an $824.8 million, or 2.7%, increase in average loans driven by 4.4% and 10.5% growth in home equity and commercial loans, respectively. These increases were partially offset by a 4.4% decrease in indirect auto loans and a 14.0% decrease in direct installment loans.

Provision for loan losses increased $160.6 million over 2006. The provision increase was most pronounced in home equity, indirect auto and commercial loans, reflecting the negative impact from the current deterioration in certain segments of the consumer portfolio, primarily related to the residential real estate market.

Total noninterest income for 2007 increased $53.0 million, or 5.0%, over 2006 levels. The increase was due to a $45.8 million, or 7.7%, increase in service charges on deposit accounts driven by higher consumer and business fees primarily due to higher NSF fees. Interchange income also grew due to increased transaction volume. These increases were partially offset by a decrease in gains on sales of student loans.

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Total noninterest expense increased $17.1 million, less than 1% year over year. A 2.7% increase in personnel expense and other expenses related to investments in the branch distribution network and business banking was partially offset by decreases in amortization of core deposit intangibles and new loan production expense.

Commercial

Three Months Ended December 31, 2007 vs. 2006

Commercial’s net income for the fourth quarter of 2007 was $68.6 million, a decrease of $37.3 million, or 35.2%, from the same period in 2006. The decrease was primarily the result of higher Affordable Housing-related noninterest expense and lower net interest income, partially offset by higher noninterest income.

Net interest income decreased $17.7 million, or 7.4%, from the fourth quarter of 2006. Although average deposits increased $850.1 million, or 6.0%, the continued shift in deposit mix to higher-rate deposit products decreased net interest income by $4.9 million. This compression in deposit spreads was primarily due to a decrease in demand deposits, as customers redeployed liquidity in the current rate environment to higher-yielding NOW accounts, certificates of deposit, and off-balance sheet sweep products. The fourth quarter 2007 increase in average deposits was driven by increases in institutional and government deposits, partially offset by decreases in lower-cost demand deposits and money market accounts. Average loans were relatively flat, increasing $97.6 million, or 0.3%, while net interest income derived from loan products decreased $13.9 million, or 8.2%, primarily due to decreased spreads on commercial real estate loans.

Provision for loan losses was $8.5 million, an increase of $6.0 million compared to the fourth quarter of 2006.

Total noninterest income increased $6.7 million, or 9.2%, over the fourth quarter of 2006, driven by increases in service charges on deposit accounts and higher referral revenues from BankCard and capital markets products, partially offset by decreases in letters of credit fees and mortgage origination referral revenues.

For the fourth quarter of 2007, total noninterest expense increased $44.5 million, or 25.3%, over the same period in 2006. A 4.4% decrease in personnel related expense was more than offset by a $57.7 million write-down related to Affordable Housing properties.

Twelve Months Ended December 31, 2007 vs. 2006

Commercial’s net income for the twelve months ended December 31, 2007, was $373.1 million, a decrease of $51.4 million, or 12.1%. The decrease was primarily the result of higher Affordable Housing-related noninterest expense and lower net interest income, partially offset by higher noninterest income.

Net interest income decreased $50.2 million, or 5.2%. Although average deposits increased $609.0 million, or 4.4%, the continued shift in deposit mix to higher-rate deposit products decreased net interest income by $31.8 million. This compression in deposit spreads was primarily due to a decrease in demand deposits, as customers redeployed liquidity in the current rate environment to higher-yielding NOW accounts, certificates of deposit, and off-balance sheet sweep products. The increase in average deposits was driven by increases in institutional and government deposits, partially offset by decreases in lower-cost demand deposits and money market accounts. Average loans increased $447.2 million, or 1.4% year over year, while net interest income derived from loan products decreased $18.4 million, or 2.8%. While commercial loan spreads were up, commercial real estate spreads decreased.

Provision for loan losses for the year was $22.2 million, an increase of $12.5 million compared to the same period in 2006.

Total noninterest income increased $14.5 million, or 5.1%, year over year, driven by increases in service charges on deposit accounts and higher referral revenues from BankCard and capital markets products, as well as higher deposit sweep revenue. These increases were partially offset by decreases in loan fees, letter of credit fees, and mortgage origination referral revenues.

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Total noninterest expense in 2007 increased $41.5 million, or 6.1%, over 2006. Decreases in personnel expense, credit and collection expenses, and shared corporate expenses were more than offset by $48.7 million in increased write-downs related to Affordable Housing properties.

Corporate and Investment Banking

Three Months Ended December 31, 2007 vs. 2006

Corporate and Investment Banking incurred a net loss of $54.3 million for the fourth quarter of 2007, a decrease of $78.7 million in net income compared to the prior year. The decrease was driven by market valuation write-downs and losses primarily in structured products due to capital markets volatility associated with turmoil in the mortgage industry, lack of loan liquidity, and widening credit spreads, partially offset by lower provision expense.

Net interest income increased slightly in the fourth quarter of 2007, up $1.6 million, or 2.9%, compared to the same period in 2006. Average loan balances decreased $58.5 million, or 0.4%, while the corresponding net interest income decreased 5.4% due to declining volumes and a decrease in spreads. The decline in balances was driven by a $1.9 billion structured asset sale of corporate loans in the first quarter of 2007, partially offset by growth in corporate banking loans and lease financing assets. Total average deposits were up $2.4 billion, or 82.4%, in the fourth quarter of 2007 over the same period in 2006, primarily in corporate money market accounts, while the associated net interest income was up $2.1 million.

Provision for loan losses was $7.3 million, an improvement of $101.7 million from the same period in 2006 as that period included the charge-off of a single large commercial loan.

Total noninterest income in the fourth quarter of 2007 decreased $224.1 million compared to the same period in 2006. The decrease was primarily driven by write-downs and losses of approximately $194.7 million in collateralized debt obligations, mortgage-backed securities, and collateralized loan obligation warehouses. The write-down included $144.7 million associated with the December purchase of $718 million of asset-backed securities from Three Pillars Funding, a multi-seller commercial paper conduit sponsored by the Company. At the time of purchase, these securities were AAA or AA-rated residential mortgage-backed securities and corporate and consumer collateralized debt obligations. These mark-downs reflect the lack of liquidity in the market for these securities and deterioration in the credit quality of the underlying assets. The securities are being carried as trading assets on the Company’s balance sheet. Further contributing to the decrease were lower revenues from merchant banking, M&A activities, and bond originations, partially offset by solid performances in derivatives, structured leasing, and equity offerings.

In the fourth quarter of 2007, total noninterest expense decreased $2.6 million, or 2.1%, compared to the fourth quarter of 2006 driven primarily by lower incentive-based compensation expense tied to revenue offset by higher legal and consulting fees.

Twelve Months Ended December 31, 2007 vs. 2006

Corporate and Investment Banking’s net income for the twelve months ended December 31, 2007, was $45.6 million, a decrease of $144.6 million, or 76.0%, from 2006. The decrease was driven by write-downs and losses primarily in structured products due to capital markets volatility created by turmoil in the mortgage industry, lack of loan liquidity, and widening credit spreads, partially offset by lower provision expense.

Net interest income decreased $12.3 million, or 5.2%, year over year. Average loan balances decreased $419.4 million, or 2.6%. The decline in loan balances along with compressed spreads resulted in an 11.3% decrease in loan-related net interest income. The decline in balances was driven by a $1.9 billion structured asset sale of corporate loans in the first quarter of 2007, partially offset by growth in corporate banking loans and lease financing assets. Total deposits increased $469.3 million, or 15.1%, driven by an

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increase in higher cost corporate money market accounts. Deposit related net interest income was down $3.1 million, or 5.0%, as the shift to higher cost money market accounts compressed deposit spreads. Partially offsetting these declines was improved net interest income from higher balances and favorable spreads in sales and trading.

Provision for loan losses was $37.7 million, an improvement of $76.2 million, or 66.9%, from 2006 due to the charge-off a single large commercial loan in the fourth quarter of 2006.

For the year, total noninterest income decreased $289.6 million, or 43.4%, compared to 2006. The decrease was primarily driven by write-downs and losses of approximately $316.1 million in collateralized debt obligations, mortgage-backed securities, and collateralized loan obligation securities, most of which occurred during the third and fourth quarters of 2007. Weakness in fixed income trading, loan related fees, and M&A fee revenue was partially offset by strong performance in derivatives, structured leasing, merchant banking and equipment lease financing.

Total noninterest expense decreased $2.6 million, or 0.5%, compared to 2006. The improvement was driven by lower personnel expense related to lower incentive-based compensation expense tied to revenue, decreased expense related to merchant banking activities, and lower shared corporate expenses. These decreases were partially offset by the reversal of leveraged lease expense in the second quarter of 2006, higher outside processing, legal, and consulting expenses in 2007.

Mortgage

Three Months Ended December 31, 2007 vs. 2006

Mortgage reported a net loss of $30.0 million for the fourth quarter of 2007, a decrease of $71.9 million compared to fourth quarter of 2006. The decrease resulted primarily from credit-related losses on mortgage loans and net valuation losses on mortgage loans held for sale, which was partially offset by higher mortgage servicing revenues and gains on sales of mortgage servicing assets.

Net interest income for the fourth quarter of 2007 decreased $20.1 million, or 13.5%, due to lower income from portfolio loans and loans held for sale, as well as higher funding costs for mortgage servicing rights. Total average loans, principally residential mortgage and residential construction loans, were down $1.0 billion, or 3.1%. The balance decline, in conjunction with lower spreads, resulted in lower net interest income of $16.7 million. The decline in average balances was due to the Company’s balance sheet management strategies that included the transfer of $4.1 billion of portfolio loans to held for sale at fair value in the first quarter of 2007 and subsequent sale of the majority of those loans, offset by loan growth from mortgage originations. Average loans held for sale declined $3.1 billion, resulting in an income decline of $6.2 million, or 19.6%, driven by lower mortgage origination volume. Average mortgage servicing rights increased $0.3 billion resulting in lower net interest income of $4.3 million, or 54.4%. The lower income was partially offset by higher income from investment securities, which increased $3.9 billion and contributed $7.6 million to the change in net interest income.

Provision for loan losses increased $43.2 million driven by higher consumer mortgage and residential construction loan charge-offs.

Total noninterest income increased $39.8 million, or 65.7%, in the fourth quarter of 2007 compared to 2006 driven by higher mortgage servicing income. Production income was down $3.4 million due to net valuation losses on loans held for sale that were substantially offset by the recognition of origination fees that were deferred prior to the May 2007 election of fair value accounting for certain loans. Loan production of $12.9 billion in the fourth quarter of 2007 was down $2.1 billion, or 14.0%, compared to the same period in 2006. Servicing income was up $48.8 million due to higher servicing revenues on higher servicing balances, gains on sales of mortgage servicing assets, and lower mortgage servicing rights amortization. At December 31, 2007, total loans serviced were $149.9 billion, an increase of $19.9 billion, or 15.3%.

Fourth quarter 2007 total noninterest expense was up $90.2 million, or 60.8%, compared to 2006 principally due to increased operating losses of $30.0 million primarily driven by loan application fraud from customer misstatements of income and/or assets primarily on Alt-A products originated in prior periods, the recognition of loan origination costs that were deferred prior to the May 2007 fair value election for certain loans, and increased credit and growth-related expenses.

9

Twelve Months Ended December 31, 2007 vs. 2006

Mortgage’s net income for the twelve months ended December 31, 2007, was $7.9 million, a decrease of $237.8 million, or 96.8%, compared to 2006. The decline resulted primarily from $166 million in net valuation losses on mortgage loans held for sale due to market volatility and mortgage spread widening in conjunction with increased credit-related losses on mortgage loans. These losses were partially offset by higher mortgage servicing revenue.

Net interest income in 2007 declined $76.0 million, or 12.6%, compared to 2006 principally due to lower income from portfolio loans and loans held for sale, as well as higher funding costs for mortgage servicing rights, which was partially offset by higher net interest income on deposits and investments. Average portfolio loans, principally consumer mortgages and residential construction loans, declined $0.4 billion, or 1.4%. The volume decline combined with compressed spreads resulted in a reduction of net interest income from total loans of $53.1 million. Average loans held for sale increased $0.5 billion; however, compressed spreads more than offset the benefit of higher balances and reduced net interest income by $38.0 million. Funding costs on higher mortgage servicing rights balances further reduced net interest income by $16.5 million. Net interest income from deposits increased $17.1 million, while net interest income from investments increased $13.1 million.

Provision for loan losses for the year 2007 increased $72.4 million driven by higher consumer mortgage and residential construction net charge-offs.

Total noninterest income declined $13.7 million, or 3.6%, due to lower production income, partially offset by higher servicing and insurance income. Production income declined $103.9 million due to net valuation losses of $166 million on loans held for sale primarily due to market volatility and mortgage spread widening. These declines were partially offset by the recognition of origination fees that were deferred prior to the May 2007 fair value election for certain loans. Loan production of $58.3 billion was up $3.0 billion, or 5.4%, for the year 2007. Servicing income increased $73.9 million, driven by higher servicing revenues from higher balances, and lower mortgage servicing rights amortization, partially offset by lower gains on sales of servicing assets in 2007. At December 31, 2007, total loans serviced were $149.9 billion, an increase of $19.9 billion, or 15.3%. Revenues from mortgage insurance increased $10.0 million due to new mortgage origination volume.

Total noninterest expense increased $222.1 million for the year 2007, or 36.9%, over 2006, principally due to increased operating losses of $84.3 million primarily driven by loan application fraud from customer misstatements of income and/or assets primarily on Alt-A products originated in prior periods, recognition of loan origination costs that were deferred prior to the May 2007 election to record certain loans at fair value, and increased credit and growth-related expenses.

Wealth and Investment Management

Three Months Ended December 31, 2007 vs. 2006

Wealth and Investment Management incurred a net loss of $96.8 million for the fourth quarter of 2007 compared to net income of $61.1 million for the fourth quarter of 2006. In December 2007, the Company purchased $1.4 billion of SIV securities, at par, from the STI Classic Prime Quality Money Market Fund and the STI Classic Institutional Cash Management Money Market Fund. At the time of purchase, these were highly-rated, short-dated securities with underlying collateral including residential mortgage-backed securities and corporate and consumer collateralized debt obligations. These mark-downs reflect the lack of liquidity in the market for these securities, deterioration in the credit quality of the underlying assets, and the fact that certain SIVs have entered restructuring proceedings. Subsequent to purchasing the SIVs, a mark-to-market write-down of $250.5 million was recorded to reflect the estimated fair value of these securities as of December 31, 2007.

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Net interest income decreased $10.0 million, or 10.6%, primarily due to a continued shift in deposit mix to higher cost deposits. Average deposits decreased $186.1 million, or 1.9%, due to a decrease in demand deposit and certain money market accounts, partially offset by an increase in higher-cost NOW accounts and time deposits. This shift in deposit mix coupled with compressed spreads due to increased competition for deposits resulted in a $7.7 million decrease in net interest income. Average loans decreased $404.3 million, or 4.9%, reducing net interest income $2.1 million. The decline in average loans was driven by lower consumer and commercial balances.

Provision for loan losses increased $0.6 million, or 28.6%, primarily due to higher home equity and consumer mortgage net charge-offs.

Total noninterest income decreased $234.8 million, or 93.1%, compared to the fourth quarter of 2006 due to the $250.5 million SIV mark-to-market write-down. Retail investment income increased $6.6 million, or 10.4%, due to strong annuity sales and higher recurring managed account fees. Other income increased $6.9 million in the fourth quarter of 2007 due to the receipt of the final contingent consideration from the sale of the Bond Trustee business. Trust income increased $0.8 million, or 0.5%, despite lost trust income from the Lighthouse Partners merger in the first quarter of 2007. As of December 31, 2007, assets under management were approximately $142.8 billion compared to $141.3 billion as of December 31, 2006. Approximately $5.3 billion in Lighthouse Partners assets were merged into Lighthouse Investment Partners and are not included in the December 31, 2007 total. Assets under management include individually managed assets, the STI Classic Funds, institutional assets managed by Trusco Capital Management, and participant-directed retirement accounts. SunTrust’s total assets under advisement were approximately $250.0 billion, which includes $142.8 billion in assets under management, $60.9 billion in non-managed trust assets, $41.6 billion in retail brokerage assets, and $4.7 billion in non-managed corporate trust assets.

Total noninterest expense increased $1.1 million, or 0.4%, due to a $3.9 million, or 2.9%, increase in total personnel expense. Higher variable compensation primarily associated with strong retail investment income was partially offset by a $5.1 million, or 7.3%, decline in salary expense and lower Lighthouse Partners related expenses.

Twelve Months Ended December 31, 2007 vs. 2006

Wealth and Investment Management’s net income for the year ended December 31, 2007, was $84.9 million, a decrease of $204.3 million, or 70.6%, compared to the year ended December 31, 2006. The decline was principally driven by a $250.5 million pre-tax mark-to-market loss on SIV securities and a $112.8 million pre-tax gain realized in 2006 on the sale of the Bond Trustee business, partially offset by a $32.3 million pre-tax gain on sale upon merger of Lighthouse Partners into Lighthouse Investment Partners and increased retail investment income in 2007.

For the full year 2007, net interest income decreased $22.4 million, or 6.1%, as the continued shift in deposit mix to higher cost products compressed spreads. Average deposits increased $303.3 million, or 3.2%, as increases in higher-cost NOW account and time deposits was partially offset by declines in lower-cost demand deposit and money market account balances. This shift in deposit mix coupled with a decline in spreads driven by deposit competition was the primary driver of a $17.7 million decline in net interest income on deposits. Average loans declined $170.0 million, or 2.1%, resulting in a $5.3 million decline in net interest income on loans. The decline in loan balances resulted from lower consumer and commercial loans.

Provision for loan losses increased $4.8 million year over year primarily due to higher home equity and consumer mortgage net charge-offs.

Total noninterest income decreased $288.1 million, or 26.3%, primarily due to a $250.5 million mark-to-market loss on SIV securities in the fourth quarter of 2007 and a $112.8 million gain realized in 2006 on the sale of the Bond Trustee business. Partially offsetting these items was a $32.3 million gain on sale upon merger of Lighthouse Partners, as well as strong growth in retail investment income, which increased $44.0 million, or 19.3%, due to strong annuity sales and higher recurring managed account fees. Trust income declined $5.1 million, or 0.7%, due to lost revenue from the Lighthouse Partners merger and sale of the Bond Trustee business.

Total noninterest expense increased $7.0 million, or 0.7%, due to a $21.2 million, or 3.9%, increase in total personnel expense. Higher variable compensation primarily associated with strong retail investment income was partially offset by a $16.0 million, or 5.6%, decline in salary expense. Favorably impacting noninterest expense was lower Lighthouse Partners related expenses as a result of the sale upon merger.

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Corporate Other and Treasury

Three Months Ended December 31, 2007 vs. 2006

Corporate Other and Treasury’s net income for the fourth quarter of 2007 was a loss of $2.7 million, a decrease of $99.2 million compared to the fourth quarter of 2006 driven by an increased provision for loan loss and Visa litigation accrual. These decreases were partially offset by an increase in net interest income due to balance sheet management strategies executed in the first half of the year and increased noninterest income due to gains on several sale leaseback transactions of real estate properties.

Net interest income in the fourth quarter of 2007 increased $92.8 million over the same period in 2006 mainly due to the execution of balance sheet management strategies, which improved the yield on the securities portfolio and deleveraged the balance sheet reducing reliance on higher-cost wholesale funding. Total average assets decreased $9.6 billion, or 30.4%, mainly due to the reduction in size of the investment portfolio. Total average deposits decreased $10.4 billion, or 40.1%, mainly due to a decrease in brokered and foreign deposits as the Company reduced its reliance on wholesale funding sources.

Provision for loan losses, which predominantly represents the difference between consolidated provision for loan losses and net charge-offs for the lines of business, increased $232.7 million in conjunction with the further deterioration in the residential real estate market and outlook for consumer credit quality.

Total noninterest income increased $71.4 million in the fourth quarter of 2007 compared to the same period in 2006. The increase was mainly due to a $118.8 million gain on sale leaseback of real estate properties and $84.2 million in valuation gains on the Company’s long-term corporate debt carried at fair value, net of hedges, partially offset by an additional market valuation write-down of $116.2 million on the securities consolidated in the third quarter in anticipation of closing the fund. These mark-downs reflect the lack of liquidity in the market for these securities and deterioration in the credit quality of the underlying assets.

Total noninterest expense increased $70.7 million compared to the fourth quarter of 2006. The increase was mainly due to a $76.9 million accrual for the Visa litigation.

Twelve Months Ended December 31, 2007 vs. 2006

Corporate Other and Treasury’s net income for the twelve months ended December 31, 2007, was $520.4 million, an increase of $268.0 million compared to the same period in 2006 driven by an increase in net interest income due to balance sheet management strategies executed in the first half of this year, the $234.8 million pre-tax gain on sale of The Coca-Cola Company stock, a gain of $118.8 million on sale leaseback of real estate properties, and the net write-up in the value of the Company’s fixed-rate debt carried at fair value.

Net interest income increased $292.9 million mainly due to the aforementioned balance sheet management strategies, which improved the yield on the securities portfolio and reduced the Company’s reliance on wholesale funding sources. Total average assets for 2007 decreased $7.1 billion, or 21.9%, compared to 2006, mainly due to the reduction in the size of the securities portfolio. Total average deposits decreased $4.7 billion, or 17.9%, mainly due to a decrease in brokered and foreign deposits.

Provision for loan losses, which predominantly represents the difference between consolidated provision for loan losses and net charge-offs for the lines of business, increased $228.3 million, primarily in the fourth quarter of 2007 as compared to 2006, in conjunction with the further deterioration in the residential real estate market and outlook for consumer credit quality.

Total noninterest income increased $484.1 million for year 2007 compared to 2006. This was driven by the $234.8 million pre-tax gain on sale of The Coca-Cola Company stock, net securities losses in 2006, a gain of $118.8 million on sale leaseback of real estate properties, and $78.1 million increase in trading income. The increase in trading income includes the items mentioned in the fourth quarter noninterest income discussion.

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Total noninterest expense increased $68.8 million compared to the same period in 2006. Included in the twelve months ended December 31, 2007, was a $76.9 million accrual for Visa litigation and $50.7 million in initial implementation costs associated with the E² Efficiency and Productivity Program, of which $45 million was severance. Positively impacting noninterest expense was a $33.6 million decrease in the accrued liability associated with a capital instrument that the Company called in the fourth quarter. Additionally, reflected in total noninterest expense are reductions in total staff expense in support functions and consulting expense.

Corresponding Financial Tables and Information

Investors are encouraged to review the foregoing summary and discussion of SunTrust’s earnings and financial condition in conjunction with the detailed financial tables and information which SunTrust has also published today and SunTrust’s forthcoming annual report on Form 10-K. Detailed financial tables and other information are available on our Web site at www.suntrust.com in the Investor Relations section located under “About SunTrust”. This information is also included in a current report on Form 8-K filed with the SEC today.

This news release contains certain non-US GAAP financial measures to describe the Company’s performance. The reconciliation of those measures to the most directly comparable US GAAP financial measures, and the reasons why SunTrust believes such financial measures may be useful to investors, can be found in the financial information contained in the appendices of this news release.

Conference Call

SunTrust management will host a conference call on January 23, 2008, 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: 4Q07). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 4Q07). A replay of the call will be available beginning January 23, 2008, and ending February 6, 2008, by dialing 1-866-487-7540 (domestic) or 1-203-369-1649 (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 23, 2008, listeners may access an archived version of the webcast in the “Webcasts and Presentations” subsection found under “Investor Relations.” This webcast will be archived and available for one year. 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, equipment leasing and capital markets services. SunTrust’s Internet address is www.suntrust.com.

Forward-Looking Statements

This news release 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 “may,” “could,” “will,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “initiatives,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions. Such statements are based upon the current beliefs and expectations of SunTrust’s management, and on information currently available to management, and speak as of the date hereof. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against

13

placing undue reliance on such statements. Actual results may differ materially 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 2006 Annual Report on Form 10-K, in the Quarterly Reports on Form 10-Q 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). Those factors include: (1) adverse changes in general business or economic conditions could have a material adverse effect on our financial condition and results of operations; (2) 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; (3) the fiscal and monetary policies of the federal government and its agencies could have a material adverse effect on our earnings; (4) changes in securities markets or markets for commercial or residential real estate could harm our revenues and profitability; (5) customers could pursue alternatives to bank deposits, causing us to lose a relatively inexpensive source of funding; (6) customers may decide not to use banks to complete their financial transactions, which could affect net income; (7) we have businesses other than banking, which subjects us to a variety of risks; (8) hurricanes and other natural disasters may adversely affect loan portfolios and operations and increase the cost of doing business; (9) negative public opinion could damage our reputation and adversely impact our business; (10) we rely on other companies for key components of our business infrastructure; (11) we rely on our systems, employees and certain counterparties, and certain failures could materially adversely affect our operations; (12) we depend on the accuracy and completeness of information about clients and counterparties; (13) regulation by federal and state agencies could adversely affect our business, revenues, and profit margins; (14) competition in the financial services industry is intense and could result in losing business or reducing profit margins; (15) future legislation could harm our competitive position; (16) maintaining or increasing market share depends on market acceptance and regulatory approval of new products and services; (17) our ability to receive dividends from our subsidiaries accounts for most of our revenues and could affect our liquidity and ability to pay dividends; (18) significant legal actions could subject us to substantial uninsured liabilities; (19) 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; (20) we depend on the expertise of key personnel without whom our operations may suffer; (21) 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; (22) 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; (23) changes in our accounting policies or in accounting standards could materially affect how we report our financial results and condition; (24) our stock price can be volatile; (25) our disclosure controls and procedures may fail to prevent or detect all errors or acts of fraud; (26) our trading assets and financial instruments carried at fair value expose the Company to certain market risks; (27) weakness in residential property values and mortgage loan markets could adversely affect us; (28) we may be required to repurchase mortgage loans or indemnify mortgage loan purchasers as a result of breaches of representations and warranties, borrower fraud, or certain borrower defaults, which could harm our liquidity, results of operations and financial condition; and (29) we may enter into transactions with off-balance sheet entities affiliated with SunTrust or its subsidiaries which may cause us to recognize current or future losses.

The forward-looking statements in this news release speak only as of this date, and SunTrust does not assume any obligation to update such statements or to update the reasons why actual results could differ from those contained in such statements.

###

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SunTrust Banks, Inc. and Subsidiaries

FINANCIAL HIGHLIGHTS

(Dollars in millions, except per share data) (Unaudited)

	Three Months Ended December 31				% Change4		Twelve Months Ended December 31				% Change4
	2007		2006				2007		2006
EARNINGS & DIVIDENDS
Net income	$11.1		$506.3		(97.8	)%	$1,634.0		$2,117.5		(22.8	)%
Net income available to common shareholders	3.3		498.6		(99.3	)	1,603.7		2,109.7		(24.0	)
Total revenue - FTE 2	1,770.8		2,067.8		(14.4	)	8,250.9		8,216.8		0.4
Net income per average common share
Diluted	0.01		1.39		(99.3	)	4.55		5.82		(21.8	)
Basic	0.01		1.41		(99.3	)	4.59		5.87		(21.8	)
Dividends paid per average common share	0.73		0.61		19.7		2.92		2.44		19.7
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets	$175,130		$182,343		(4.0	)%	$177,796		$180,315		(1.4	)%
Earning assets	151,541		160,115		(5.4	)	155,204		158,429		(2.0	)
Loans	121,094		121,364		(0.2	)	120,081		119,645		0.4
Consumer and commercial deposits	99,649		98,553		1.1		98,020		97,175		0.9
Brokered and foreign deposits	15,717		26,124		(39.8	)	21,856		26,490		(17.5	)
Total shareholders' equity	18,033		18,155		(0.7	)	17,808		17,547		1.5
As of
Total assets	179,574		182,162		(1.4	)
Earning assets	154,397		159,064		(2.9	)
Loans	122,319		121,454		0.7
Allowance for loan and lease losses	1,283		1,045		22.8
Consumer and commercial deposits	101,870		99,776		2.1
Brokered and foreign deposits	15,973		24,246		(34.1	)
Total shareholders’ equity	18,053		17,814		1.3
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	0.03	%	1.10	%	(97.3	)%	0.92	%	1.17	%	(21.4	)%
Return on average assets less net unrealized securities gains 1	(0.01	)	1.04		NM		0.81		1.17		(30.8	)
Return on average common shareholders’ equity	0.07		11.20		(99.4	)	9.27		12.13		(23.6	)
Return on average realized common shareholders’ equity 1	(0.33	)	11.17		NM		8.65		12.72		(32.0	)
Net interest margin 2	3.13		2.94		6.5		3.11		3.00		3.7
Efficiency ratio 2	82.19		59.67		37.7		63.43		59.39		6.8
Tangible efficiency ratio 1	80.86		58.49		38.2		62.26		58.13		7.1
Effective tax rate	(116.22	)	27.07		NM		27.36		29.10		(6.0	)
Tier 1 capital ratio	7.00	3	7.72		(9.3	)
Total capital ratio	10.30	3	11.11		(7.3	)
Tier 1 leverage ratio	6.94	3	7.23		(4.0	)
Total average shareholders’ equity to total average assets	10.30		9.96		3.4		10.02		9.73		2.9
Tangible equity to tangible assets 1	6.28		6.03		4.1
Full-time equivalent employees	32,323		33,599		(3.8	)
Number of ATMs	2,507		2,569		(2.4	)
Full service banking offices	1,682		1,701		(1.1	)
Traditional	1,343		1,349		(0.4	)
In-store	339		352		(3.7	)
Book value per common share	$50.38		$48.78		3.3
Market price:
High	78.76		85.64		(8.0	)	94.18		85.64		10.0
Low	60.02		76.76		(21.8	)	60.02		69.68		(13.9	)
Close	62.49		84.45		(26.0	)	62.49		84.45		(26.0	)
Market capitalization	21,772		29,972		(27.4	)
Average common shares outstanding (000s)
Diluted	348,072		358,292		(2.9	)	352,688		362,802		(2.8	)
Basic	345,917		354,677		(2.5	)	349,346		359,413		(2.8	)

¹ See Appendix A and Appendix B for reconcilements of non-GAAP performance measures.

² Total revenue, 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 net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources. Total revenue-FTE equals net interest income on a FTE basis plus noninterest income.

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

⁴ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 1

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER FINANCIAL HIGHLIGHTS

(Dollars in millions, except per share data) (Unaudited)

	Three Months Ended
	December 31 2007		September 30 2007		June 30 2007		March 31 2007		December 31 2006
EARNINGS & DIVIDENDS
Net income	$11.1		$420.2		$681.4		$521.2		$506.3
Net income available to common shareholders	3.3		412.6		673.9		513.9		498.6
Total revenue - FTE 2	1,770.8		2,038.3		2,374.6		2,067.2		2,067.7
Net income per average common share
Diluted	0.01		1.18		1.89		1.44		1.39
Basic	0.01		1.19		1.91		1.45		1.41
Dividends paid per average common share	0.73		0.73		0.73		0.73		0.61
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets	$175,130		$174,653		$179,996		$181,506		$182,343
Earning assets	151,541		152,328		157,594		159,474		160,115
Loans	121,094		119,559		118,165		121,515		121,364
Consumer and commercial deposits	99,649		96,708		97,927		97,792		98,553
Brokered and foreign deposits	15,717		21,140		23,983		26,714		26,124
Total shareholders’ equity	18,033		17,550		17,928		17,720		18,155
As of
Total assets	179,574		175,857		180,314		186,385		182,162
Earning assets	154,397		151,229		157,095		163,299		159,064
Loans	122,319		120,748		118,788		116,913		121,454
Allowance for loan and lease losses	1,283		1,094		1,050		1,034		1,045
Consumer and commercial deposits	101,870		98,834		97,822		99,875		99,776
Brokered and foreign deposits	15,973		17,026		25,069		23,563		24,246
Total shareholders’ equity	18,053		17,907		17,369		17,969		17,814
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	0.03	%	0.95	%	1.52	%	1.16	%	1.10	%
Return on average assets less net unrealized securities gains 1	(0.01	)	0.93		1.18		1.15		1.04
Return on average common shareholders’ equity	0.07		9.60		15.51		12.10		11.20
Return on average realized common shareholders’ equity 1	(0.33	)	9.86		12.71		12.54		11.17
Net interest margin 2	3.13		3.18		3.10		3.02		2.94
Efficiency ratio 2	82.19		63.35		52.69		59.79		59.67
Tangible efficiency ratio 1	80.86		62.13		51.64		58.65		58.49
Effective tax rate	(116.22	)	26.68		31.45		30.59		27.07
Tier 1 capital ratio	7.00	3	7.44		7.49		7.60		7.72
Total capital ratio	10.30	3	10.72		10.67		10.94		11.11
Tier 1 leverage ratio	6.94	3	7.28		7.11		7.24		7.23
Total average shareholders’ equity to total average assets	10.30		10.05		9.96		9.76		9.96
Tangible equity to tangible assets 1	6.28		6.32		5.85		5.97		6.03
Full-time equivalent employees	32,323		32,903		33,241		33,397		33,599
Number of ATMs	2,507		2,518		2,533		2,543		2,569
Full service banking offices	1,682		1,683		1,685		1,691		1,701
Traditional	1,343		1,339		1,338		1,338		1,349
In-store	339		344		347		353		352
Book value per common share	$50.38		$50.01		$48.33		$49.00		$48.78
Market price:
High	78.76		90.47		94.18		87.43		85.64
Low	60.02		73.61		78.16		80.76		76.76
Close	62.49		75.67		85.74		83.04		84.45
Market capitalization	21,772		26,339		29,928		29,604		29,972
Average common shares outstanding (000s)
Diluted	348,072		349,592		356,008		357,214		358,292
Basic	345,917		346,150		351,987		353,448		354,677

¹ See Appendix A and Appendix B for reconcilements of non-GAAP performance measures.

² Total revenue, 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 net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources. Total revenue-FTE equals net interest income on a FTE basis plus noninterest income.

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

Page 2

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per share data) (Unaudited)

	Three Months Ended							Twelve Months Ended
	December 31			Increase/(Decrease) 2				December 31				Increase/(Decrease) 2
	2007		2006	Amount		%		2007		2006		Amount		%
Interest income	$2,448,701		$2,564,731	($116,030	)	(4.5	)%	$10,035,920		$9,792,020		$243,900		2.5	%
Interest expense	1,281,188		1,403,442	(122,254	)	(8.7	)	5,316,376		5,131,555		184,821		3.6
NET INTEREST INCOME	1,167,513		1,161,289	6,224		0.5		4,719,544		4,660,465		59,079		1.3
Provision for loan losses	356,781		115,806	240,975		NM		664,922		262,536		402,386		NM
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	810,732		1,045,483	(234,751	)	(22.5	)	4,054,622		4,397,929		(343,307	)	(7.8	)
NONINTEREST INCOME
Service charges on deposit accounts	222,213		191,628	30,585		16.0		822,031		763,720		58,311		7.6
Trust and investment management income	170,854		169,248	1,606		0.9		685,034		686,865		(1,831	)	(0.3	)
Retail investment services	71,650		65,000	6,650		10.2		278,042		233,974		44,068		18.8
Other charges and fees	121,849		122,386	(537	)	(0.4	)	479,074		462,063		17,011		3.7
Investment banking income	55,041		71,211	(16,170	)	(22.7	)	214,885		230,553		(15,668	)	(6.8	)
Trading account profits/(losses) and commissions	(437,162	)	9,586	(446,748	)	NM		(361,711	)	113,047		(474,758	)	NM
Card fees	77,481		64,187	13,294		20.7		280,706		247,647		33,059		13.3
Mortgage production related income	22,366		47,476	(25,110	)	(52.9	)	90,983		217,428		(126,445	)	(58.2	)
Mortgage servicing related income	57,364		8,994	48,370		NM		195,436		121,738		73,698		60.5
Net gain on sale of Bond Trustee business	-		-	-		-		-		112,759		(112,759	)	(100.0	)
Gain on sale upon merger of Lighthouse Partners	-		-	-		-		32,340		-		32,340		NM
Net gain on sale/leaseback of premises	118,840		-	118,840		NM		118,840		-		118,840		NM
Other noninterest income	89,827		97,473	(7,646	)	(7.8	)	349,907		329,055		20,852		6.3
Securities gains/(losses), net	5,694		35,377	(29,683	)	(83.9	)	243,117		(50,477	)	293,594		NM
Total noninterest income	576,017		882,566	(306,549	)	(34.7	)	3,428,684		3,468,372		(39,688	)	(1.1	)
NONINTEREST EXPENSE
Employee compensation and benefits	682,810		657,093	25,717		3.9		2,770,188		2,725,453		44,735		1.6
Net occupancy expense	92,705		85,846	6,859		8.0		351,238		334,213		17,025		5.1
Outside processing and software	105,407		101,538	3,869		3.8		410,945		393,576		17,369		4.4
Equipment expense	51,734		49,234	2,500		5.1		206,498		197,038		9,460		4.8
Marketing and customer development	59,115		45,249	13,866		30.6		195,043		173,205		21,838		12.6
Amortization of intangible assets	23,414		24,304	(890	)	(3.7	)	96,680		103,226		(6,546	)	(6.3	)
Loss on extinguishment of debt	-		11,665	(11,665	)	(100.0	)	9,800		11,665		(1,865	)	(16.0	)
Visa litigation	76,930		-	76,930		NM		76,930		-		76,930		NM
Other noninterest expense	363,226		258,848	104,378		40.3		1,116,455		941,484		174,971		18.6
Total noninterest expense	1,455,341		1,233,777	221,564		18.0		5,233,777		4,879,860		353,917		7.3
INCOME/(LOSS) BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES	(68,592	)	694,272	(762,864	)	NM		2,249,529		2,986,441		(736,912	)	(24.7	)
Provision/(benefit) for income taxes	(79,716	)	187,918	(267,634	)	NM		615,514		868,970		(253,456	)	(29.2	)
Net income	11,124		506,354	(495,230	)	(97.8	)	1,634,015		2,117,471		(483,456	)	(22.8	)
Preferred dividends	7,867		7,729	138		1.8		30,275		7,729		22,546		NM
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$3,257		$498,625	($495,368	)	(99.3	)	$1,603,740		$2,109,742		($506,002	)	(24.0	)
Net interest income - FTE 1	$1,194,757		$1,185,166	$9,591		0.8		$4,822,224		$4,748,431		$73,793		1.6
Net income per average common share
Diluted	0.01		1.39	(1.38	)	(99.3	)	4.55		5.82		(1.27	)	(21.8	)
Basic	0.01		1.41	(1.40	)	(99.3	)	4.59		5.87		(1.28	)	(21.8	)
Cash dividends paid per common share	0.73		0.61	0.12		19.7		2.92		2.44		0.48		19.7
Average common shares outstanding (000s)
Diluted	348,072		358,292	(10,220	)	(2.9	)	352,688		362,802		(10,114	)	(2.8	)
Basic	345,917		354,677	(8,760	)	(2.5	)	349,346		359,413		(10,067	)	(2.8	)

¹ Net interest income includes the effects of FTE 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.

² “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 3

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per share data) (Unaudited)

	Three Months Ended
	December 31 2007		September 30 2007		June 30 2007	March 31 2007		December 31 2006
Interest income	$2,448,701		$2,515,292		$2,543,870	$2,528,057		$2,564,731
Interest expense	1,281,188		1,323,104		1,348,586	1,363,498		1,403,442
NET INTEREST INCOME	1,167,513		1,192,188		1,195,284	1,164,559		1,161,289
Provision for loan losses	356,781		147,020		104,680	56,441		115,806
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	810,732		1,045,168		1,090,604	1,108,118		1,045,483
NONINTEREST INCOME
Service charges on deposit accounts	222,213		213,939		196,844	189,035		191,628
Trust and investment management income	170,854		175,242		164,620	174,318		169,248
Retail investment services	71,650		71,064		71,785	63,543		65,000
Other charges and fees	121,849		120,730		118,358	118,137		122,386
Investment banking income	55,041		47,688		61,999	50,157		71,211
Trading account profits/(losses) and commissions	(437,162	)	(31,187	)	16,437	90,201		9,586
Card fees	77,481		70,450		68,580	64,195		64,187
Mortgage production related income	22,366		12,950		64,322	(8,655	)	47,476
Mortgage servicing related income	57,364		57,142		45,527	35,403		8,994
Gain on sale upon merger of Lighthouse Partners	-		-		-	32,340		-
Net gain on sale/leaseback of premises	118,840		-		-	-		-
Other noninterest income	89,827		80,130		109,738	70,212		97,473
Securities gains/(losses), net	5,694		991		236,412	20		35,377
Total noninterest income	576,017		819,139		1,154,622	878,906		882,566
NONINTEREST EXPENSE
Employee compensation and benefits	682,810		677,765		710,613	699,000		657,093
Net occupancy expense	92,705		87,626		84,650	86,257		85,846
Outside processing and software	105,407		105,132		100,730	99,676		101,538
Equipment expense	51,734		51,532		53,823	49,409		49,234
Marketing and customer development	59,115		46,897		43,326	45,705		45,249
Amortization of intangible assets	23,414		24,820		24,904	23,542		24,304
Loss on extinguishment of debt	-		9,800		-	-		11,665
Visa litigation	76,930		-		-	-		-
Other noninterest expense	363,226		287,673		233,148	232,408		258,848
Total noninterest expense	1,455,341		1,291,245		1,251,194	1,235,997		1,233,777
INCOME/(LOSS) BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES	(68,592	)	573,062		994,032	751,027		694,272
Provision/(benefit) for income taxes	(79,716)		152,898		312,601	229,731		187,918
Net income	11,124		420,164		681,431	521,296		506,354
Preferred dividends	7,867		7,526		7,519	7,363		7,729
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$3,257		$412,638		$673,912	$513,933		$498,625
Net interest income - FTE 1	$1,194,757		$1,219,243		$1,219,952	$1,188,272		$1,185,166
Net income per average common share
Diluted	0.01		1.18		1.89	1.44		1.39
Basic	0.01		1.19		1.91	1.45		1.41
Cash dividends paid per common share	0.73		0.73		0.73	0.73		0.61
Average common shares outstanding (000s)
Diluted	348,072		349,592		356,008	357,214		358,292
Basic	345,917		346,150		351,987	353,448		354,677

¹ Net interest income includes the effects of FTE 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.

Page 4

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands) (Unaudited)

	As of December 31				Increase/(Decrease) 3
	2007		2006		Amount		%
ASSETS
Cash and due from banks	$4,270,917		$4,235,889		$35,028		0.8	%
Interest-bearing deposits in other banks	24,355		21,810		2,545		11.7
Funds sold and securities purchased under agreements to resell	1,347,329		1,050,046		297,283		28.3
Trading assets	10,518,379		2,777,629		7,740,750		NM
Securities available for sale 1	16,264,107		25,101,715		(8,837,608	)	(35.2	)
Loans held for sale (loans at fair value: $6,325,160 as of December 31, 2007)	8,851,695		11,790,122		(2,938,427	)	(24.9	)
Loans:
Commercial	35,929,400		34,613,882		1,315,518		3.8
Real estate:
Home equity lines	14,911,598		14,102,655		808,943		5.7
Construction	13,776,651		13,892,988		(116,337	)	(0.8	)
Residential mortgages (loans at fair value: $220,784 as of December 31, 2007)	32,779,744		33,830,101		(1,050,357	)	(3.1	)
Commercial real estate	12,609,543		12,567,824		41,719		0.3
Consumer:
Direct	3,963,869		4,160,091		(196,222	)	(4.7	)
Indirect	7,494,130		7,936,102		(441,972	)	(5.6	)
Credit card	854,059		350,690		503,369		NM
Total loans	122,318,994		121,454,333		864,661		0.7
Allowance for loan and lease losses	(1,282,504	)	(1,044,521	)	237,983		22.8
Net loans	121,036,490		120,409,812		626,678		0.5
Goodwill	6,921,493		6,889,860		31,633		0.5
Other intangible assets	1,362,995		1,181,984		181,011		15.3
Other real estate owned	183,753		55,460		128,293		NM
Other assets	8,792,420		8,647,282		145,138		1.7
Total assets 2	$179,573,933		$182,161,609		($2,587,676	)	(1.4	)
LIABILITIES
Noninterest-bearing consumer and commercial deposits	$21,083,234		$22,887,176		($1,803,942	)	(7.9	) %
Interest-bearing consumer and commercial deposits:
NOW accounts	22,558,374		20,230,763		2,327,611		11.5
Money market accounts	24,522,640		22,371,828		2,150,812		9.6
Savings	3,917,099		5,198,980		(1,281,881	)	(24.7	)
Consumer time	17,264,208		16,824,239		439,969		2.6
Other time	12,524,470		12,262,902		261,568		2.1
Total consumer and commercial deposits	101,870,025		99,775,888		2,094,137		2.1
Brokered deposits (CDs at fair value: $234,345 as of December 31, 2007; $97,370 as of December 31, 2006)	11,715,024		18,150,059		(6,435,035	)	(35.5	)
Foreign deposits	4,257,601		6,095,682		(1,838,081	)	(30.2	)
Total deposits	117,842,650		124,021,629		(6,178,979	)	(5.0	)
Funds purchased	3,431,185		4,867,591		(1,436,406	)	(29.5	)
Securities sold under agreements to repurchase	5,748,277		6,950,426		(1,202,149	)	(17.3	)
Other short-term borrowings	3,021,358		2,062,636		958,722		46.5
Long-term debt (notes at fair value: $7,446,980 as of December 31, 2007)	22,956,508		18,992,905		3,963,603		20.9
Trading liabilities	2,160,385		1,634,097		526,288		32.2
Other liabilities	6,361,052		5,818,719		542,333		9.3
Total liabilities	161,521,415		164,348,003		(2,826,588	)	(1.7	)
SHAREHOLDERS’ EQUITY
Preferred stock, no par value	500,000		500,000		-		-
Common stock, $1.00 par value	370,578		370,578		-		-
Additional paid in capital	6,707,293		6,627,196		80,097		1.2
Retained earnings	10,646,640		10,541,152		105,488		1.0
Treasury stock, at cost, and other	(1,779,142	)	(1,151,269	)	627,873		54.5
Accumulated other comprehensive income	1,607,149		925,949		681,200		73.6
Total shareholders’ equity	18,052,518		17,813,606		238,912		1.3
Total liabilities and shareholders’ equity	$179,573,933		$182,161,609		($2,587,676	)	(1.4	)
Common shares outstanding	348,411,163		354,902,566		(6,491,403	)	(1.8	)
Common shares authorized	750,000,000		750,000,000		-		-
Preferred shares outstanding	5,000		5,000		-		-
Preferred shares authorized	50,000,000		50,000,000		-		-
Treasury shares of common stock	22,167,235		15,675,832		6,491,403		41.4
1   Includes net unrealized gains of	$2,724,643		$2,103,362		$621,281		29.5	%
2   Includes earning assets of	154,397,231		159,063,834		(4,666,603	)	(2.9	)

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 5

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER CONSOLIDATED BALANCE SHEETS

(Dollars in thousands) (Unaudited)

	As of
	December 31 2007		September 30 2007		June 30 2007		March 31 2007		December 31 2006
ASSETS
Cash and due from banks	$4,270,917		$4,162,456		$4,254,430		$3,867,957		$4,235,889
Interest-bearing deposits in other banks	24,355		29,684		25,991		21,974		21,810
Funds sold and securities purchased under agreements to resell	1,347,329		968,553		1,143,995		883,833		1,050,046
Trading assets	10,518,379		9,566,806		13,044,972		21,545,502		2,777,629
Securities available for sale 1	16,264,107		15,243,133		14,725,957		13,163,036		25,101,715
Loans held for sale	8,851,695		8,675,427		12,474,932		14,067,788		11,790,122
Loans:
Commercial	35,929,400		34,969,714		34,362,837		33,484,170		34,613,882
Real estate:
Home equity lines	14,911,598		14,598,774		14,303,659		14,039,685		14,102,655
Construction	13,776,651		14,358,990		14,417,949		14,175,478		13,892,988
Residential mortgages	32,779,744		31,603,884		30,759,216		30,248,543		33,830,101
Commercial real estate	12,609,543		12,487,309		12,416,329		12,454,475		12,567,824
Consumer:
Direct	3,963,869		4,419,290		4,391,739		4,293,308		4,160,091
Indirect	7,494,130		7,642,099		7,739,369		7,840,962		7,936,102
Credit card	854,059		668,353		396,624		375,938		350,690
Total loans	122,318,994		120,748,413		118,787,722		116,912,559		121,454,333
Allowance for loan and lease losses	(1,282,504	)	(1,093,691	)	(1,050,362	)	(1,033,939	)	(1,044,521	)
Net loans	121,036,490		119,654,722		117,737,360		115,878,620		120,409,812
Goodwill	6,921,493		6,912,110		6,897,050		6,896,723		6,889,860
Other intangible assets	1,362,995		1,327,060		1,290,460		1,293,457		1,181,984
Other real estate owned	183,753		156,106		100,973		74,645		55,460
Other assets	8,792,420		9,161,172		8,618,252		8,691,306		8,647,282
Total assets 2	$179,573,933		$175,857,229		$180,314,372		$186,384,841		$182,161,609
LIABILITIES
Noninterest-bearing consumer and commercial deposits	$21,083,234		$20,857,240		$22,725,654		$22,765,045		$22,887,176
Interest-bearing consumer and commercial deposits:
NOW accounts	22,558,374		20,319,435		20,255,930		20,802,207		20,230,763
Money market accounts	24,522,640		24,011,524		21,645,616		22,070,587		22,371,828
Savings	3,917,099		4,376,155		4,698,516		5,102,312		5,198,980
Consumer time	17,264,208		17,037,866		16,745,010		17,044,783		16,824,239
Other time	12,524,470		12,231,832		11,751,246		12,089,882		12,262,902
Total consumer and commercial deposits	101,870,025		98,834,052		97,821,972		99,874,816		99,775,888
Brokered deposits	11,715,024		14,188,886		16,659,978		18,203,295		18,150,059
Foreign deposits	4,257,601		2,836,775		8,408,752		5,360,164		6,095,682
Total deposits	117,842,650		115,859,713		122,890,702		123,438,275		124,021,629
Funds purchased	3,431,185		1,512,054		3,405,459		6,433,195		4,867,591
Securities sold under agreements to repurchase	5,748,277		5,548,486		6,081,096		6,851,863		6,950,426
Other short-term borrowings	3,021,358		2,971,761		2,083,518		1,958,438		2,062,636
Long-term debt	22,956,508		22,661,381		20,604,933		19,007,959		18,992,905
Trading liabilities	2,160,385		1,906,002		2,156,279		1,642,958		1,634,097
Other liabilities	6,361,052		7,490,585		5,723,532		9,083,615		5,818,719
Total liabilities	161,521,415		157,949,982		162,945,519		168,416,303		164,348,003
SHAREHOLDERS’ EQUITY
Preferred stock, no par value	500,000		500,000		500,000		500,000		500,000
Common stock, $1.00 par value	370,578		370,578		370,578		370,578		370,578
Additional paid in capital	6,707,293		6,709,002		6,589,387		6,688,660		6,627,196
Retained earnings	10,646,640		10,897,059		10,739,449		10,325,246		10,541,152
Treasury stock, at cost, and other	(1,779,142	)	(1,821,360	)	(1,751,449	)	(1,101,172	)	(1,151,269	)
Accumulated other comprehensive income	1,607,149		1,251,968		920,888		1,185,226		925,949
Total shareholders’ equity	18,052,518		17,907,247		17,368,853		17,968,538		17,813,606
Total liabilities and shareholders’ equity	$179,573,933		$175,857,229		$180,314,372		$186,384,841		$182,161,609
Common shares outstanding	348,411,163		348,073,971		349,052,800		356,504,563		354,902,566
Common shares authorized	750,000,000		750,000,000		750,000,000		750,000,000		750,000,000
Preferred shares outstanding	5,000		5,000		5,000		5,000		5,000
Preferred shares authorized	50,000,000		50,000,000		50,000,000		50,000,000		50,000,000
Treasury shares of common stock	22,167,235		22,504,427		21,525,598		14,073,835		15,675,832

1   Includes net unrealized gains of	$2,724,643	$2,391,606	$2,035,623	$2,333,896	$2,103,362
2   Includes earning assets of	154,397,231	151,228,575	157,094,873	163,299,162	159,063,834

Page 6

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED DAILY AVERAGE BALANCES,

AVERAGE YIELDS EARNED AND RATES PAID

(Dollars in millions; yields on taxable-equivalent basis) (Unaudited)

	Three Months Ended
	December 31, 2007					September 30, 2007
	Average Balances		Interest Income/ Expense	Yields/ Rates		Average Balances		Interest Income/ Expense	Yields/ Rates
ASSETS
Loans:
Real estate 1-4 family	$31,990.3		$517.4	6.47	%	$31,003.5		$498.5	6.43	%
Real estate construction	13,250.9		238.8	7.15		13,686.6		260.0	7.54
Real estate home equity lines	14,394.8		268.1	7.39		14,133.1		279.5	7.85
Real estate commercial	12,891.6		221.2	6.81		12,759.3		225.3	7.01
Commercial - FTE 1	34,879.3		564.9	6.43		34,247.9		562.6	6.52
Credit card	690.1		2.1	1.23		516.3		4.2	3.29
Consumer - direct	3,949.3		70.7	7.10		4,368.0		80.0	7.26
Consumer - indirect	7,877.3		125.7	6.33		7,966.4		124.6	6.21
Nonaccrual and restructured	1,170.7		4.3	1.45		877.5		3.8	1.72
Total loans	121,094.3		2,013.2	6.60		119,558.6		2,038.5	6.76
Securities available for sale:
Taxable	11,814.6		182.9	6.19		11,546.2		179.7	6.23
Tax-exempt - FTE 1	1,054.0		16.0	6.07		1,040.9		15.8	6.05
Total securities available for sale - FTE 1	12,868.6		198.9	6.18		12,587.1		195.5	6.21
Funds sold and securities purchased under agreements to resell	1,066.1		11.6	4.25		872.5		11.1	4.99
Loans held for sale	8,777.6		139.2	6.34		9,748.0		155.6	6.39
Interest-bearing deposits	18.2		0.3	6.22		24.9		0.3	4.28
Interest earning trading assets	7,716.2		112.8	5.80		9,536.5		141.2	5.88
Total earning assets	151,541.0		2,476.0	6.48		152,327.6		2,542.2	6.62
Allowance for loan and lease losses	(1,114.9	)				(1,059.1	)
Cash and due from banks	3,462.6					3,417.2
Other assets	17,172.3					16,719.9
Noninterest earning trading assets	1,660.9					1,155.9
Unrealized gains on securities available for sale, net	2,408.6					2,091.9
Total assets	$175,130.5					$174,653.4
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts	$20,737.2		$121.0	2.32	%	$19,543.4		$117.9	2.39	%
Money market accounts	24,261.5		177.7	2.91		22,560.3		160.0	2.81
Savings	4,177.7		11.1	1.05		4,456.5		13.3	1.19
Consumer time	17,170.7		197.2	4.56		16,839.9		193.4	4.56
Other time	12,353.3		151.5	4.87		11,862.4		146.3	4.89
Total interest-bearing consumer and commercial deposits	78,700.4		658.5	3.32		75,262.5		630.9	3.33
Brokered deposits	12,771.1		168.2	5.15		15,806.3		214.6	5.31
Foreign deposits	2,945.9		32.6	4.33		5,333.6		68.8	5.05
Total interest-bearing deposits	94,417.4		859.3	3.61		96,402.4		914.3	3.76
Funds purchased	2,151.4		24.1	4.38		2,291.3		28.9	4.94
Securities sold under agreements to repurchase	5,706.7		55.2	3.78		5,732.2		64.7	4.42
Interest-bearing trading liabilities	504.2		3.5	2.75		354.1		3.4	3.85
Other short-term borrowings	3,202.8		37.4	4.63		2,730.1		33.6	4.89
Long-term debt	22,808.1		301.7	5.25		21,143.5		278.1	5.22
Total interest-bearing liabilities	128,790.6		1,281.2	3.95		128,653.6		1,323.0	4.08
Noninterest-bearing deposits	20,948.1					21,445.1
Other liabilities	5,812.5					5,633.7
Noninterest-bearing trading liabilities	1,546.5					1,370.8
Shareholders’ equity	18,032.8					17,550.2
Total liabilities and shareholders’ equity	$175,130.5					$174,653.4
Interest Rate Spread				2.53	%				2.54	%
Net Interest Income - FTE 1			$1,194.8					$1,219.2
Net Interest Margin 2				3.13	%				3.18	%

¹ The fully taxable-equivalent (“FTE”) basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

² The net interest margin is calculated by dividing annualized net interest income - FTE by average total earning assets.

Page 7

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED DAILY AVERAGE BALANCES,

AVERAGE YIELDS EARNED AND RATES PAID

(Dollars in millions; yields on taxable-equivalent basis) (Unaudited)

	Three Months Ended
	June 30, 2007					March 31, 2007					December 31, 2006
	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	$30,754.4		$493.2	6.42	%	$34,089.1		$527.3	6.19	%	$34,345.4		$531.8	6.19	%
Real estate construction	13,710.1		259.4	7.59		13,430.3		252.7	7.63		13,204.0		254.3	7.64
Real estate home equity lines	13,849.7		272.4	7.89		13,738.1		268.3	7.92		13,722.9		273.4	7.90
Real estate commercial	12,731.8		220.8	6.95		12,830.6		220.2	6.96		12,784.8		223.1	6.93
Commercial-FTE 1	33,607.7		539.6	6.44		34,032.8		535.6	6.38		33,965.1		545.8	6.37
Credit card	403.7		5.9	5.80		369.5		5.5	5.94		351.4		5.3	5.99
Consumer-direct	4,347.5		78.2	7.21		4,220.5		76.0	7.30		4,116.3		76.8	7.40
Consumer-indirect	8,063.6		123.1	6.12		8,166.5		122.0	6.06		8,231.8		123.8	5.97
Nonaccrual and restructured	696.1		4.8	2.76		637.5		4.5	2.85		642.1		5.0	3.06
Total loans	118,164.6		1,997.4	6.78		121,514.9		2,012.1	6.72		121,363.8		2,039.3	6.67
Securities available for sale:
Taxable	11,014.3		167.7	6.09		6,650.6		108.7	6.54		22,170.4		282.0	5.09
Tax-exempt-FTE 1	1,041.2		15.2	5.85		1,038.8		15.2	5.86		998.0		14.6	5.85
Total securities available for sale-FTE 1	12,055.5		182.9	6.07		7,689.4		123.9	6.44		23,168.4		296.6	5.12
Funds sold and securities purchased under agreements to resell	1,038.1		13.2	5.04		1,006.3		12.9	5.12		1,176.3		15.4	5.15
Loans held for sale	13,454.3		200.4	5.96		11,205.2		173.7	6.20		12,009.3		198.4	6.61
Interest-bearing deposits	24.1		0.3	5.74		28.9		0.4	5.69		31.2		0.3	3.76
Interest earning trading assets	12,857.6		174.3	5.44		18,028.9		228.8	5.15		2,365.8		38.6	6.46
Total earning assets	157,594.2		2,568.5	6.54		159,473.6		2,551.8	6.49		160,114.8		2,588.6	6.41
Allowance for loan and lease losses	(1,037.6	)				(1,050.5	)				(1,086.1	)
Cash and due from banks	3,427.7					3,520.0					3,683.1
Other assets	16,626.9					16,272.9					16,665.6
Noninterest earning trading assets	986.6					985.1					1,000.5
Unrealized gains on securities available for sale, net	2,398.7					2,305.3					1,965.4
Total assets	$179,996.5					$181,506.4					$182,343.3
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits:
NOW accounts	$20,065.8		$119.0	2.38	%	$19,820.1		$115.9	2.37	%	$18,441.1		$102.2	2.20	%
Money market accounts	21,773.3		142.0	2.62		22,089.1		142.9	2.62		23,075.7		153.1	2.63
Savings	4,786.7		14.8	1.24		5,024.8		16.3	1.32		5,437.0		23.6	1.73
Consumer time	16,942.3		190.5	4.51		16,809.4		183.1	4.42		16,682.8		180.8	4.30
Other time	11,962.4		144.5	4.85		12,115.8		144.0	4.82		12,338.6		148.3	4.77
Total interest-bearing consumer and commercial deposits	75,530.5		610.8	3.24		75,859.2		602.2	3.22		75,975.2		608.0	3.18
Brokered deposits	16,972.2		227.5	5.30		18,888.5		250.8	5.31		18,102.0		243.1	5.25
Foreign deposits	7,011.2		92.9	5.24		7,825.6		102.9	5.26		8,022.2		107.6	5.25
Total interest-bearing deposits	99,513.9		931.2	3.75		102,573.3		955.9	3.78		102,099.4		958.7	3.73
Funds purchased	3,967.7		52.2	5.21		4,693.1		61.2	5.22		5,163.4		68.8	5.21
Securities sold under agreements to repurchase	6,339.0		74.4	4.64		6,768.0		79.5	4.70		7,148.8		86.3	4.72
Interest-bearing trading liabilities	453.1		4.4	3.87		409.4		4.3	4.25		488.5		5.3	4.28
Other short-term borrowings	2,262.3		28.3	5.02		1,758.4		21.7	5.01		1,913.3		24.4	5.08
Long-term debt	19,772.4		258.0	5.24		19,000.8		240.9	5.14		17,854.2		259.9	5.78
Total interest-bearing liabilities	132,308.4		1,348.5	4.09		135,203.0		1,363.5	4.09		134,667.6		1,403.4	4.13
Noninterest-bearing deposits	22,395.8					21,933.1					22,577.7
Other liabilities	6,185.4					5,499.1					5,779.5
Noninterest-bearing trading liabilities	1,178.8					1,150.8					1,163.0
Shareholders' equity	17,928.1					17,720.4					18,155.5
Total liabilities and shareholders’ equity	$179,996.5					$181,506.4					$182,343.3
Interest Rate Spread				2.45	%				2.40	%				2.28	%
Net Interest Income-FTE 1			$1,220.0					$1,188.3					$1,185.2
Net Interest Margin 2				3.10	%				3.02	%				2.94	%

¹ The fully taxable-equivalent (“FTE”) basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

² The net interest margin is calculated by dividing annualized net interest income-FTE by average total earning assets.

Page 8

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED DAILY AVERAGE BALANCES,

AVERAGE YIELDS EARNED AND RATES PAID

(Dollars in millions; yields on taxable-equivalent basis) (Unaudited)

	Twelve Months Ended
	December 31, 2007					December 31, 2006
	Average Balances		Interest Income/ Expense	Yields/ Rates		Average Balances		Interest Income/ Expense	Yields/ Rates
ASSETS
Loans:
Real estate 1-4 family	$31,951.0		$2,036.5	6.37	%	$33,523.5		$2,022.6	6.03	%
Real estate construction	13,519.4		1,011.0	7.48		12,333.9		923.8	7.49
Real estate home equity lines	14,031.0		1,088.2	7.76		13,565.2		1,032.3	7.61
Real estate commercial	12,803.4		887.5	6.93		12,803.7		866.6	6.77
Commercial - FTE 1	34,194.4		2,202.6	6.44		33,836.1		2,087.4	6.17
Credit card	495.9		17.7	3.57		315.3		19.1	6.09
Consumer - direct	4,221.0		304.9	7.22		4,460.8		313.6	7.03
Consumer - indirect	8,017.5		495.4	6.18		8,376.6		477.6	5.70
Nonaccrual and restructured	847.0		17.3	2.05		430.1		16.6	3.85
Total loans	120,080.6		8,061.1	6.71		119,645.2		7,759.6	6.49
Securities available for sale:
Taxable	10,274.1		639.1	6.22		23,430.9		1,146.8	4.89
Tax-exempt - FTE 1	1,043.8		62.2	5.96		954.5		55.8	5.85
Total securities available for sale - FTE 1	11,317.9		701.3	6.20		24,385.4		1,202.6	4.93
Funds sold and securities purchased under agreement to resell	995.6		48.8	4.91		1,158.6		57.0	4.92
Loans held for sale	10,786.7		668.9	6.20		11,082.8		728.0	6.57
Interest-bearing deposits	24.0		1.3	5.44		93.4		3.3	3.59
Interest earning trading assets	11,999.6		657.2	5.48		2,063.3		129.5	6.28
Total earning assets	155,204.4		10,138.6	6.53		158,428.7		9,880.0	6.24
Allowance for loan and lease losses	(1,065.7	)				(1,061.3	)
Cash and due from banks	3,456.6					3,834.8
Other assets	16,700.5					16,534.9
Noninterest earning trading assets	1,198.9					957.5
Unrealized gains on securities available for sale, net	2,300.8					1,620.5
Total assets	$177,795.5					$180,315.1
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts	$20,042.8		$473.9	2.36	%	$17,214.4		$307.8	1.79	%
Money market accounts	22,676.7		622.5	2.75		24,507.9		634.5	2.59
Savings	4,608.7		55.5	1.20		5,371.1		79.1	1.47
Consumer time	16,941.3		764.2	4.51		15,622.7		614.6	3.93
Other time	12,073.5		586.3	4.86		11,146.9		492.9	4.42
Total interest-bearing consumer and commercial deposits	76,343.0		2,502.4	3.28		73,863.0		2,128.9	2.88
Brokered deposits	16,091.9		861.2	5.35		17,425.7		880.5	5.05
Foreign deposits	5,764.5		297.2	5.16		9,064.5		455.3	5.02
Total interest-bearing deposits	98,199.4		3,660.8	3.73		100,353.2		3,464.7	3.45
Funds purchased	3,266.2		166.5	5.10		4,439.5		222.9	5.02
Securities sold under agreements to repurchase	6,132.5		273.8	4.46		7,087.0		320.1	4.52
Interest-bearing trading liabilities	430.2		15.6	3.62		404.9		15.5	3.84
Other short-term borrowings	2,493.0		121.0	4.85		1,507.1		74.5	4.93
Long-term debt	20,692.9		1,078.7	5.21		18,600.7		1,033.9	5.56
Total interest-bearing liabilities	131,214.2		5,316.4	4.05		132,392.4		5,131.6	3.88
Noninterest-bearing deposits	21,677.2					23,312.3
Other liabilities	5,783.1					5,895.2
Noninterest-bearing trading liabilities	1,313.0					1,168.5
Shareholders’ equity	17,808.0					17,546.7
Total liabilities and shareholders' equity	$177,795.5					$180,315.1
Interest Rate Spread				2.48	%				2.36	%
Net Interest Income - FTE 1			$4,822.2					$4,748.4
Net Interest Margin 2				3.11	%				3.00	%

¹ The fully taxable-equivalent (“FTE”) basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

² The net interest margin is calculated by dividing net interest income-FTE by average total earning assets.

Page 9

SunTrust Banks, Inc. and Subsidiaries

OTHER FINANCIAL DATA

(Dollars in thousands) (Unaudited)

	Three Months Ended								Twelve Months Ended
	December 31				Increase/(Decrease)				December 31				Increase/(Decrease)
	2007		2006		Amount		%1		2007		2006		Amount		%1
CREDIT DATA
Allowance for loan and lease losses-beginning	$1,093,691		$1,087,316		$6,375		0.6	%	$1,044,521		$1,028,128		$16,393		1.6	%
Provision for loan losses	356,781		115,806		240,975		NM		664,922		262,536		402,386		NM
Allowance associated with loans at fair value2	-		-		-		-		(4,100	)	-		4,100		NM
Charge-offs
Commercial	(38,239	)	(127,831	)	(89,592	)	(70.1	)	(140,859	)	(183,501	)	(42,642	)	(23.2	)
Real estate:
Home equity lines	(46,842	)	(11,038	)	35,804		NM		(116,218	)	(28,816	)	87,402		NM
Construction	(7,616	)	(1,230	)	6,386		NM		(12,159	)	(2,281	)	9,878		NM
Residential mortgages	(59,319	)	(7,806	)	51,513		NM		(113,080	)	(29,596	)	83,484		NM
Commercial real estate	(299	)	(4,256	)	(3,957	)	(93.0	)	(2,069	)	(8,050	)	(5,981	)	(74.3	)
Consumer:
Direct	(6,630	)	(5,924	)	706		11.9		(23,509	)	(22,010	)	1,499		6.8
Indirect	(32,448	)	(25,450	)	6,998		27.5		(106,454	)	(82,315	)	24,139		29.3
Total charge-offs	(191,393	)	(183,535	)	7,858		4.3		(514,348	)	(356,569	)	157,779		44.2
Recoveries
Commercial	6,613		6,657		(44	)	(0.7	)	24,242		29,971		(5,729	)	(19.1	)
Real estate:
Home equity lines	2,182		1,529		653		42.7		7,789		6,840		949		13.9
Construction	705		755		(50	)	(6.6	)	1,150		2,040		(890	)	(43.6	)
Residential mortgages	1,328		1,686		(358	)	(21.2	)	5,462		7,909		(2,447	)	(30.9	)
Commercial real estate	846		1,748		(902	)	(51.6	)	1,910		6,212		(4,302	)	(69.3	)
Consumer:
Direct	2,484		2,805		(321	)	(11.4	)	9,613		12,126		(2,513	)	(20.7	)
Indirect	9,267		9,754		(487	)	(5.0	)	41,343		45,328		(3,985	)	(8.8	)
Total recoveries	23,425		24,934		(1,509	)	(6.1	)	91,509		110,426		(18,917	)	(17.1	)
Net charge-offs	(167,968	)	(158,601	)	9,367		5.9		(422,839	)	(246,143	)	176,696		71.8
Allowance for loan and lease losses-ending	$1,282,504		$1,044,521		$237,983		22.8		$1,282,504		$1,044,521		$237,983		22.8
Net charge-offs to average loans (annualized)
Commercial	0.35	%	1.39	%	(1.04	)%	(74.6	)%	0.34	%	0.45	%	(0.11	)%	(25.4	)%
Real estate:
Home equity lines	1.23		0.27		0.96		NM		0.77		0.16		0.61		NM
Construction	0.20		0.01		0.19		NM		0.08		-		0.08		NM
Residential mortgages	0.70		0.07		0.63		NM		0.33		0.06		0.27		NM
Commercial real estate	(0.02	)	0.08		(0.10	)	NM		-		0.01		(0.01	)	(100.0	)
Consumer:
Direct	0.42		0.30		0.12		38.5		0.33		0.22		0.11		49.6
Indirect	1.16		0.75		0.41		54.3		0.81		0.44		0.37		84.0
Total net charge-offs to total average loans	0.55		0.52		0.03		5.8		0.35		0.21		0.14		66.7
Period Ended
Nonaccrual loans
Commercial	$74,463		$106,769		($32,306	)	(30.3	)%
Real estate:
Construction	295,335		38,646		256,689		NM
Residential mortgages 3	977,077		279,458		697,619		NM
Commercial real estate	44,502		55,365		(10,863	)	(19.6	)
Consumer loans	39,031		23,520		15,511		65.9
Total nonaccrual loans	1,430,407		503,758		926,649		NM
Restructured loans	29,851		27,993		1,858		6.6
Total nonperforming loans	1,460,258		531,751		928,507		NM
Other real estate owned (OREO)	183,753		55,460		128,293		NM
Other repossessed assets	11,536		6,617		4,919		74.3
Total nonperforming assets	$1,655,547		$593,828		$1,061,719		NM
Total accruing loans past due 90 days or more	$611,003		$353,115		$257,888		73.0	%
Total nonperforming loans to total loans	1.19	%	0.44	%	0.75	%	NM	%
Total nonperforming assets to total loans plus OREO and other repossessed assets	1.35		0.49		0.86		NM
Allowance to period-end loans	1.05		0.86		0.19		22.1
Allowance to nonperforming loans	87.8		196.4		(108.60	)	(55.3	)
Allowance to annualized net charge-offs	1.92 x		1.66 x		0.26 x		0.16

¹ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

² Amount removed from the allowance for loan losses related to the Company’s election to record $4.1 billion of residential mortgages at fair value.

³ Includes home equity lines on nonaccrual status.

Page 10

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER OTHER FINANCIAL DATA

(Dollars in thousands) (Unaudited)

	Three Months Ended
	December 31 2007		September 30 2007		Increase/(Decrease)				June 30 2007		March 31 2007		December 31 2006
					Amount		% 1
CREDIT DATA
Allowance for loan and lease losses-beginning	$1,093,691		$1,050,362		$43,329		4.1	%	$1,033,939		$1,044,521		$1,087,316
Provision for loan losses	356,781		147,020		209,761		NM		104,680		56,441		115,806
Allowance associated with loans at fair value 2	-		-		-		-		-		(4,100	)	-
Charge-offs
Commercial	(38,239	)	(39,487	)	(1,248	)	(3.2	)	(40,853	)	(22,280	)	(127,831	)
Real estate:
Home equity lines	(46,842	)	(29,075	)	17,767		61.1		(24,429	)	(15,872	)	(11,038	)
Construction	(7,616	)	(2,477	)	5,139		NM		(1,468	)	(598	)	(1,230	)
Residential mortgages	(59,319	)	(19,853	)	39,466		NM		(19,615	)	(14,293	)	(7,806	)
Commercial real estate	(299	)	(789	)	(490	)	(62.1	)	(694	)	(287	)	(4,256	)
Consumer:
Direct	(6,630	)	(5,661	)	969		17.1		(5,362	)	(5,856	)	(5,924	)
Indirect	(32,448	)	(28,944	)	3,504		12.1		(19,301	)	(25,761	)	(25,450	)
Total charge-offs	(191,393	)	(126,286	)	65,107		51.6		(111,722	)	(84,947	)	(183,535	)
Recoveries
Commercial	6,613		6,322		291		4.6		5,536		5,771		6,657
Real estate:
Home equity lines	2,182		2,101		81		3.9		2,323		1,183		1,529
Construction	705		82		623		NM		244		119		755
Residential mortgages	1,328		1,107		221		20.0		1,614		1,413		1,686
Commercial real estate	846		861		(15	)	(1.7	)	162		41		1,748
Consumer:
Direct	2,484		2,108		376		17.8		2,568		2,453		2,805
Indirect	9,267		10,014		(747	)	(7.5	)	11,018		11,044		9,754
Total recoveries	23,425		22,595		830		3.7		23,465		22,024		24,934
Net charge-offs	(167,968	)	(103,691	)	64,277		62.0		(88,257	)	(62,923	)	(158,601	)
Allowance for loan and lease losses - ending	$1,282,504		$1,093,691		$188,813		17.3		$1,050,362		$1,033,939		$1,044,521
Net charge-offs to average loans (annualized)
Commercial	0.35	%	0.38	%	(0.03	)%	(7.3	)%	0.42	%	0.19	%	1.39	%
Real estate:
Home equity lines	1.23		0.76		0.47		62.0		0.64		0.43		0.27
Construction	0.20		0.07		0.13		NM		0.04		0.01		0.01
Residential mortgages	0.70		0.24		0.46		NM		0.23		0.15		0.07
Commercial real estate	(0.02	)	-		(0.02	)	NM		0.02		0.01		0.08
Consumer:
Direct	0.42		0.32		0.10		30.2		0.26		0.33		0.30
Indirect	1.16		0.94		0.22		23.7		0.41		0.73		0.75
Total net charge-offs to total average loans	0.55		0.34		0.21		61.8		0.30		0.21		0.52
Period Ended
Nonaccrual loans
Commercial	$74,463		$74,246		$217		0.3	%	$91,895		$118,737		$106,769
Real estate:
Construction	295,335		158,194		137,141		86.7		77,936		54,885		38,646
Residential mortgages 3	977,077		676,822		300,254		44.4		500,400		392,093		279,458
Commercial real estate	44,502		40,649		3,853		9.5		44,168		47,463		55,365
Consumer loans	39,031		24,880		14,150		56.9		22,401		24,143		23,520
Total nonaccrual loans	1,430,407		974,791		455,616		46.7		736,800		637,321		503,758
Restructured loans	29,851		29,057		794		2.7		27,816		27,772		27,993
Total nonperforming loans	1,460,258		1,003,848		456,410		45.5		764,616		665,093		531,751
Other real estate owned (OREO)	183,753		156,106		27,647		17.7		100,973		74,645		55,460
Other repossessed assets	11,536		9,974		1,562		15.7		7,250		6,202		6,617
Total nonperforming assets	$1,655,547		$1,169,928		$485,619		41.5		$872,839		$745,940		$593,828
Total accruing loans past due 90 days or more	$611,003		$495,384		$115,619		23.3	%	$449,038		$369,940		$353,115
Total nonperforming loans to total loans	1.19	%	0.83	%	0.36	%	43.4	%	0.64	%	0.57	%	0.44	%
Total nonperforming assets to total loans plus OREO and other repossessed assets	1.35		0.97		0.38		39.2		0.73		0.64		0.49
Allowance to period-end loans	1.05		0.91		0.14		15.4		0.88		0.88		0.86
Allowance to nonperforming loans	87.8		109.0		(21.12	)	(19.4	)	137.4		155.5		196.4
Allowance to annualized net charge-offs	1.92x		2.66 x		(0.74	) x	(0.28	)	2.97 x		4.05 x		1.66 x

¹ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

² Amount removed from the allowance for loan losses related to the Company’s election to record $4.1 billion of residential mortgages at fair value.

³ Includes home equity lines on nonaccrual status.

Page 11

SunTrust Banks, Inc. and Subsidiaries

OTHER FINANCIAL DATA (continued)

(Dollars and shares in thousands, except per share data) (Unaudited)

	Three Months Ended								Twelve Months Ended
	December 31								December 31
	Core Deposit Intangible		Mortgage Servicing Rights		Other		Total		Core Deposit Intangible		Mortgage Servicing Rights		Other		Total
OTHER INTANGIBLE ASSET ROLLFORWARD
Balance, beginning of period	$261,161		$724,323		$134,618		$1,120,102		$324,743		$657,604		$140,620		$1,122,967
Amortization	(19,547	)	(55,652	)	(4,757	)	(79,956	)	(84,214	)	(195,627	)	(19,012	)	(298,853	)
Servicing rights originated	-		141,897		-		141,897		-		503,801		-		503,801
Community Bank of Florida branch acquisition	-		-		-		-		1,085		-		-		1,085
Reclass investment to trading assets	-		-		-		-		-		-		(1,050	)	(1,050	)
Purchase of GenSpring (formerly AMA, LLC) minority shares	-		-		-		-		-		-		5,072		5,072
Sale/securitization of mortgage servicing rights	-		(59	)	-		(59	)	-		(155,269	)	-		(155,269	)
Issuance of noncompete agreement	-		-		-		-		-		-		4,231		4,231
Balance December 31, 2006	$241,614		$810,509		$129,861		$1,181,984		$241,614		$810,509		$129,861		$1,181,984
Balance, beginning of period	$188,372		$995,984		$142,704		$1,327,060		$241,614		$810,509		$129,861		$1,181,984
Amortization	(15,717	)	(47,997	)	(7,697	)	(71,411	)	(68,959	)	(181,263	)	(27,721	)	(277,943	)
Servicing rights originated	-		142,100		-		142,100		-		639,158		-		639,158
Purchase of GenSpring (formerly AMA, LLC) minority shares	-		-		-		-		-		-		2,205		2,205
Client relationship intangible obtained from GenSpring’s acquisition of TBK Investments, Inc.	-		-		-		-		-		-		6,520		6,520
Client relationship intangible obtained from GenSpring’s acquisition of Inlign Wealth Management	-		-		4,120		4,120		-		-		4,120		4,120
Alpha Equity Management revenue sharing intangible	-		-		1,788		1,788		-		-		1,788		1,788
Intangible assets obtained from sale upon merger of Lighthouse Partners, net1	-		-		-		-		-		-		24,142		24,142
Sale/securitization of mortgage servicing rights	-		(40,662	)	-		(40,662	)	-		(218,979	)	-		(218,979	)
Balance, December 31, 2007	$172,655		$1,049,425		$140,915		$1,362,995		$172,655		$1,049,425		$140,915		$1,362,995
	Three Months Ended
	December 31 2007		September 30 2007		June 30 2007		March 31 2007		December 31 2006
COMMON SHARE ROLLFORWARD
Beginning balance	348,074		349,053		356,505		354,903		363,868
Common shares issued/exchanged for employee benefit plans, stock option, performance and restricted stock activity	337		483		1,228		2,218		961
Acquisition of treasury stock	-		(1,462	)	(8,680	)	(616	)	(9,926	)
Ending balance	348,411		348,074		349,053		356,505		354,903
COMMON STOCK REPURCHASE ACTIVITY
Number of common shares repurchased 2	12		1,472		8,715		653		9,962
Average price per share of repurchased common shares	$69.31		$81.00		$87.02		$82.83		$77.76
Total cost to acquire treasury shares	$-		$-		$853,386		$-		$870,669
Maximum number of common shares that may yet be purchased under plans or programs 3	30,000		30,000		2,471		11,151		11,767

¹ During the first quarter of 2007 SunTrust merged its wholly-owned subsidiary, Lighthouse Partners, into Lighthouse Investment Partners, LLC in exchange for a minority interest in Lighthouse Investment Partners, LLC and a revenue-sharing agreement. This transaction resulted in a $7.9 million decrease in existing intangible assets and a new intangible asset of $32.0 million.

² This figure includes shares repurchased pursuant to SunTrust’s employee stock option plans, pursuant to which participants may pay the exercise price upon exercise of SunTrust stock options by surrendering shares of SunTrust common stock which the participant already owns.

³ In August 2006, the Board authorized the Company to repurchase up to an additional $1 billion or 13,333,334 shares of the Company’s Common Stock, under which authority the Company repurchased 9,926,589 shares during 2006 under an Accelerated Share Repurchase Agreement (“ASR”). The 3,406,745 shares remaining under the August 2006 authorization, combined with 8,360,000 shares remaining under Board authorization from April 2006, left the Company with authorization to repurchase up to 11,766,745 shares as of January 1, 2007. The Company completed the aforementioned ASR with the repurchase of 615,514 shares during the first quarter of 2007. During 2007, the Company entered into a second ASR, as announced in the Company’s 8-K filing on June 7, 2007, by repurchasing 8,022,254 shares during the second quarter of 2007. This ASR was completed in the third quarter of 2007 when the Company received, without additional payment, an additional 1,462,091 shares. On August 14, 2007, the Board of Directors authorized the Company to repurchase up to 30 million shares of common stock and specified that such authorization replaced (terminated) existing unused authorizations.

Page 12

SunTrust Banks, Inc. and Subsidiaries

RECONCILEMENT OF NON-GAAP MEASURES

APPENDIX A TO THE EARNINGS RELEASE

(Dollars in thousands) (Unaudited)

	Three Months Ended										Twelve Months Ended
	December 31 2007		September 30 2007		June 30 2007		March 31 2007		December 31 2006		December 31 2007		December 31 2006
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE
Net income	$11,124		$420,164		$681,431		$521,296		$506,354		$1,634,015		$2,117,471
Securities (gains)/losses, net of tax	(3,530	)	(614	)	(146,575	)	(12	)	(21,934	)	(150,733	)	31,296
Net income excluding net securities gains and losses, net of tax	7,594		419,550		534,856		521,284		484,420		1,483,282		2,148,767
The Coca-Cola Company dividend, net of tax	(13,206)		(13,210)		(13,218)		(14,580)		(13,316)		(54,214)		(53,267)
Net income/(loss) excluding net securities (gains)/losses, net of tax and The Coca-Cola Company dividend	(5,612	)	406,340		521,638		506,704		471,104		1,429,068		2,095,500
Preferred dividends	7,867		7,526		7,519		7,363		7,729		30,275		7,729
Net income/(loss) available to common shareholders excluding net securities (gains)/losses and The Coca-Cola Company dividend	($13,479	)	$398,814		$514,119		$499,341		$463,375		$1,398,793		$2,087,771
Total average assets	$175,130,464		$174,653,377		$179,996,457		$181,506,369		$182,343,274		$177,795,518		$180,315,146
Average net unrealized securities gains	(2,408,596	)	(2,091,892	)	(2,398,651	)	(2,305,306	)	(1,965,367	)	(2,300,821	)	(1,620,509	)
Average assets less net unrealized securities gains	$172,721,868		$172,561,485		$177,597,806		$179,201,063		$180,377,907		$175,494,697		$178,694,637
Total average common shareholders’ equity	$17,532,786		$17,050,182		$17,428,101		$17,220,384		$17,655,469		$17,308,013		$17,394,685
Average accumulated other comprehensive income	(1,292,785	)	(998,561	)	(1,206,487	)	(1,074,497	)	(1,202,004	)	(1,143,284	)	(975,952	)
Total average realized common shareholders’ equity	$16,240,001		$16,051,621		$16,221,614		$16,145,887		$16,453,465		$16,164,729		$16,418,733
Return on average total assets	0.03	%	0.95	%	1.52	%	1.16	%	1.10	%	0.92	%	1.17	%
Impact of excluding net realized and unrealized securities (gains)/losses and The Coca-Cola Company dividend	(0.04	)	(0.02	)	(0.34	)	(0.01	)	(0.06	)	(0.11	)	—
Return on average total assets less net unrealized securities gains 1	(0.01	)%	0.93	%	1.18	%	1.15	%	1.04	%	0.81	%	1.17	%
Return on average common shareholders’ equity	0.07	%	9.60	%	15.51	%	12.10	%	11.20	%	9.27	%	12.13	%
Impact of excluding net realized and unrealized securities (gains)/losses and The Coca-Cola Company dividend	(0.40	)	0.26		(2.80	)	0.44		(0.03	)	(0.62	)	0.59
Return on average realized common shareholders’ equity 2	(0.33	)%	9.86	%	12.71	%	12.54	%	11.17	%	8.65	%	12.72	%
Efficiency ratio 3	82.19	%	63.35	%	52.69	%	59.79	%	59.67	%	63.43	%	59.39	%
Impact of excluding amortization of intangible assets other than mortgage servicing rights (“MSRs”)	(1.33	)	(1.22	)	(1.05	)	(1.14	)	(1.18	)	(1.17	)	(1.26	)
Tangible efficiency ratio 4	80.86	%	62.13	%	51.64	%	58.65	%	58.49	%	62.26	%	58.13	%
Total shareholders’ equity	$18,052,518		$17,907,247		$17,368,853		$17,968,538		$17,813,606
Goodwill	(6,921,493	)	(6,912,110	)	(6,897,050	)	(6,896,723	)	(6,889,860	)
Other intangible assets including MSRs	(1,362,995	)	(1,327,060	)	(1,290,460	)	(1,293,457	)	(1,181,984	)
MSRs	1,049,426		995,984		942,012		921,255		810,510
Tangible equity	$10,817,456		$10,664,061		$10,123,355		$10,699,613		$10,552,272
Total assets	$179,573,933		$175,857,229		$180,314,372		$186,384,841		$182,161,609
Goodwill	(6,921,493	)	(6,912,110	)	(6,897,050	)	(6,896,723	)	(6,889,860	)
Other intangible assets including MSRs	(1,362,995	)	(1,327,060	)	(1,290,460	)	(1,293,457	)	(1,181,984	)
Mortgage servicing rights	1,049,426		995,984		942,012		921,255		810,510
Tangible assets	$172,338,871		$168,614,043		$173,068,874		$179,115,916		$174,900,275
Tangible equity to tangible assets 5	6.28	%	6.32	%	5.85	%	5.97	%	6.03	%
Net interest income	$1,167,513		$1,192,188		$1,195,284		$1,164,559		$1,161,289		$4,719,544		$4,660,465
Taxable-equivalent adjustment	27,244		27,055		24,668		23,713		23,877		102,680		87,966
Net interest income - FTE	1,194,757		1,219,243		1,219,952		1,188,272		1,185,166		4,822,224		4,748,431
Noninterest income	576,017		819,139		1,154,622		878,906		882,566		3,428,684		3,468,372
Total revenue - FTE	$1,770,774		$2,038,382		$2,374,574		$2,067,178		$2,067,732		$8,250,908		$8,216,803

	Twelve Months Ended
	December 31 2007		December 31 2006		Increase/ (Decrease)
					Amount	%
SELECTED NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE
Noninterest expense	$5,233,777		$4,879,860		$353,917	7.3	%
Compensation expense related to fair valued mortgage loans	(78,390	)	—
Leverage lease reserve reversal	—		10,923
E2 initial implementation costs	(61,700	)	(13,378	)
Decrease in accrued liability associated with a capital instrument	33,552		—
Affordable housing divestitures	(63,472	)	(14,814	)
Visa litigation	(76,930	)	—
Adjusted noninterest expense 6	$4,986,837		$4,862,591		$124,246	2.6	%

¹ SunTrust presents a return on average assets less net unrealized gains on securities. The foregoing numbers primarily reflect adjustments to remove the effects of the Company’s securities portfolio which includes the ownership by the Company of 43.6 million shares of The Coca-Cola Company as of December 31, 2007. 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, net of tax, by average assets less net unrealized securities gains.

² The Company believes that the return on average realized common shareholders’ equity is more indicative of the Company’s return on equity because the excluded equity relates primarily to the long term holding of a specific security. The return on average realized common shareholders’ equity is computed by dividing annualized net income available to common shareholders, excluding securities gains/losses and The Coca -Cola Company dividend, net of tax, by average realized common shareholders’ equity.

³ Computed by dividing noninterest expense by total revenue - FTE. The efficiency ratios are presented on an FTE basis. The FTE basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

⁴ SunTrust presents a tangible efficiency ratio which excludes the amortization of intangible assets other than mortgage servicing rights. The Company believes this measure is useful to investors because, by removing the effect of these intangible asset costs (the level of which may vary from company to company), it allows investors to more easily compare the Company’s efficiency to other companies in the industry. This measure is utilized by management to assess the efficiency of the Company and its lines of business.

⁵ SunTrust presents a tangible equity to tangible assets ratio that excludes the impact of purchase accounting intangible assets. The Company believes this measure is useful to investors because, by removing the effect of intangible assets that result from merger and acquisition activity (the level of which may vary from company to company), it allows investors to more easily compare the Company’s capital adequacy to other companies in the industry. This measure is used by management to analyze capital adequacy.

⁶ SunTrust presents noninterest expense on a basis that excludes certain significant non-core expense items because the Company believes the exclusion of these items is more indicative of normalized operations.

Page 13

SunTrust Banks, Inc. and Subsidiaries

QUARTER-TO-QUARTER COMPARISON - ACTUAL

APPENDIX B TO THE EARNINGS RELEASE

(Dollars in thousands) (Unaudited)

	Three Months Ended
	December 31 2007		September 30 2007		Increase/(Decrease)				Sequential Annualized 1 %		December 31 2007		December 31 2006	Increase/(Decrease)
					Amount		%							Amount		%
STATEMENTS OF INCOME
NET INTEREST INCOME	$1,167,513		$1,192,188		($24,675	)	(2.1	)%	(8.3	)%	$1,167,513		$1,161,289	$6,224		0.5	%
Provision for loan losses	356,781		147,020		209,761		NM		NM		356,781		115,806	240,975		NM
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	810,732		1,045,168		(234,436	)	(22.4	)	(89.7	)	810,732		1,045,483	(234,751	)	(22.5	)
NONINTEREST INCOME
Service charges on deposit accounts	222,213		213,939		8,274		3.9		15.5		222,213		191,628	30,585		16.0
Trust and investment management income	170,854		175,242		(4,388	)	(2.5	)	(10.0	)	170,854		169,248	1,606		0.9
Retail investment services	71,650		71,064		586		0.8		3.3		71,650		65,000	6,650		10.2
Other charges and fees	121,849		120,730		1,119		0.9		3.7		121,849		122,386	(537	)	(0.4	)
Investment banking income	55,041		47,688		7,353		15.4		61.7		55,041		71,211	(16,170	)	(22.7	)
Trading account profits/(losses) and commissions	(437,162	)	(31,187	)	(405,975	)	NM		NM		(437,162	)	9,586	(446,748	)	NM
Card fees	77,481		70,450		7,031		10.0		39.9		77,481		64,187	13,294		20.7
Mortgage production related income	22,366		12,950		9,416		72.7		NM		22,366		47,476	(25,110	)	(52.9	)
Mortgage servicing related income	57,364		57,142		222		0.4		NM		57,364		8,994	48,370		NM
Net gain on sale/leaseback of premises	118,840		-		118,840		NM		NM		118,840		-	118,840		NM
Other noninterest income	89,827		80,130		9,697		12.1		48.4		89,827		97,473	(7,646	)	(7.8	)
Net securities gains/(losses)	5,694		991		4,703		NM		NM		5,694		35,377	(29,683	)	(83.9	)
Total noninterest income	576,017		819,139		(243,122	)	(29.7	)	NM		576,017		882,566	(306,549	)	(34.7	)
NONINTEREST EXPENSE
Employee compensation and benefits	682,810		677,765		5,045		0.7		3.0		682,810		657,093	25,717		3.9
Net occupancy expense	92,705		87,626		5,079		5.8		23.2		92,705		85,846	6,859		8.0
Outside processing and software	105,407		105,132		275		0.3		1.0		105,407		101,538	3,869		3.8
Equipment expense	51,734		51,532		202		0.4		1.6		51,734		49,234	2,500		5.1
Marketing and customer development	59,115		46,897		12,218		26.1		NM		59,115		45,249	13,866		30.6
Amortization of intangible assets	23,414		24,820		(1,406	)	(5.7	)	(22.7	)	23,414		24,304	(890	)	(3.7	)
Loss on extinguishment of debt	-		9,800		(9,800	)	(100.0	)	NM		-		11,665	(11,665	)	(100.0	)
Visa litigation	76,930		-		76,930		NM		NM		76,930		-	76,930		NM
Other noninterest expense	363,226		287,673		75,553		26.3		NM		363,226		258,848	104,378		40.3
Total noninterest expense	1,455,341		1,291,245		164,096		12.7		50.8		1,455,341		1,233,777	221,564		18.0
INCOME/(LOSS) BEFORE INCOME TAXES	(68,592	)	573,062		(641,654	)	NM		NM		(68,592	)	694,272	(762,864	)	NM
Provision/(benefit) for income taxes	(79,716	)	152,898		(232,614	)	NM		NM		(79,716	)	187,918	(267,634	)	NM
NET INCOME	11,124		420,164		(409,040	)	(97.4	)	NM		11,124		506,354	(495,230	)	(97.8	)
Preferred dividends	7,867		7,526		341		4.5		18.1		7,867		7,729	138		1.8
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$3,257		$412,638		($409,381	)	(99.2	)	NM		$3,257		$498,625	($495,368	)	(99.3	)
REVENUE
Net interest income	$1,167,513		$1,192,188		($24,675	)	(2.1	)%	(8.3	)%	$1,167,513		$1,161,289	$6,224		0.5	%
Taxable-equivalent adjustment	27,244		27,055		189		0.7		2.8		27,244		23,877	3,367		14.1
Net interest income - FTE	1,194,757		1,219,243		(24,486	)	(2.0	)	(8.0	)	1,194,757		1,185,166	9,591		0.8
Noninterest income	576,017		819,139		(243,122	)	(29.7	)	NM		576,017		882,566	(306,549	)	(34.7	)
Total revenue - FTE	$1,770,774		$2,038,382		($267,608	)	(13.1	)	(52.5	)	$1,770,774		$2,067,732	($296,958	)	(14.4	)
SELECTED AVERAGE BALANCES (Dollars in millions)
Average loans
Commercial-FTE	$34,879		$34,248		$631		1.8	%	7.4	%	$34,879		$33,965	$914		2.7	%
Real estate home equity lines	14,395		14,133		262		1.9		7.4		14,395		13,723	672		4.9
Real estate construction	13,251		13,687		(436	)	(3.2	)	(12.7	)	13,251		13,204	47		0.4
Real estate 1-4 family	31,990		31,004		986		3.2		12.7		31,990		34,345	(2,355	)	(6.9	)
Real estate commercial	12,892		12,759		133		1.0		4.2		12,892		12,785	107		0.8
Credit card	690		516		174		33.7		NM		690		352	338		95.9
Consumer - direct	3,949		4,368		(419	)	(9.6	)	(38.3	)	3,949		4,116	(167	)	(4.1	)
Consumer - indirect	7,877		7,966		(89	)	(1.1	)	(4.5	)	7,877		8,232	(355	)	(4.3	)
Nonaccrual and restructured	1,171		878		293		33.4		NM		1,171		642	529		82.3
Total loans	$121,094		$119,559		$1,535		1.3	%	5.1	%	$121,094		$121,364	($270	)	(0.2	)%
Average deposits
Noninterest bearing deposits	$20,948		$21,445		($497	)	(2.3	)%	(9.3	)%	$20,948		$22,578	($1,630	)	(7.2	)%
NOW accounts	20,737		19,544		1,193		6.1		24.4		20,737		18,441	2,296		12.5
Money market accounts	24,262		22,560		1,702		7.5		30.2		24,262		23,076	1,186		5.1
Savings	4,178		4,457		(279	)	(6.3	)	(25.0	)	4,178		5,437	(1,259	)	(23.2	)
Consumer and other time	29,524		28,702		822		2.9		11.5		29,524		29,021	503		1.7
Total consumer and commercial deposits	99,649		96,708		2,941		3.0		12.2		99,649		98,553	1,096		1.1
Brokered and foreign deposits	15,717		21,140		(5,423	)	(25.7	)	NM		15,717		26,124	(10,407	)	(39.8	)
Total deposits	$115,366		$117,848		($2,482	)	(2.1	)%	(8.4	)%	$115,366		$124,677	($9,311	)	(7.5	)%
SELECTED CREDIT DATA
Nonaccrual loans	$1,430,407		$974,791		$455,616		46.7	%	NM	%	$1,430,407		$503,758	$926,649		NM	%
Restructured loans	29,851		29,057		794		2.7		10.9		29,851		27,993	1,858		6.6
Total nonperforming loans	1,460,258		1,003,848		456,410		45.5		NM		1,460,258		531,751	928,507		NM
Other real estate owned (OREO)	183,753		156,106		27,647		17.7		70.8		183,753		55,460	128,293		NM
Other repossessed assets	11,536		9,974		1,562		15.7		62.7		11,536		6,617	4,919		74.3
Total nonperforming assets	$1,655,547		$1,169,928		$485,619		41.5	%	NM	%	$1,655,547		$593,828	$1,061,719		NM	%
Allowance for loan and lease losses	$1,282,504		$1,093,691		$188,813		17.3	%	69.1	%	$1,282,504		$1,044,521	$237,983		22.8	%

¹ Multiply percentage change by 4 to calculate sequential annualized change. Any sequential annualized change over 100 percent is labeled as “NM” because those changes over 100 percent were not considered to be meaningful.

Page 14

SunTrust Banks, Inc. and Subsidiaries

YEAR-TO-DATE COMPARISON - ACTUAL

APPENDIX B TO THE EARNINGS RELEASE, continued

(Dollars in thousands) (Unaudited)

	Twelve Months Ended
	December 31 2007		December 31 2006		Increase/(Decrease)
					Amount		%1
STATEMENTS OF INCOME
NET INTEREST INCOME	$4,719,544		$4,660,465		$59,079		1.3	%
Provision for loan losses	664,922		262,536		402,386		NM
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	4,054,622		4,397,929		(343,307	)	(7.8	)
NONINTEREST INCOME
Service charges on deposit accounts	822,031		763,720		58,311		7.6
Trust and investment management income	685,034		686,865		(1,831	)	(0.3	)
Retail investment services	278,042		233,974		44,068		18.8
Other charges and fees	479,074		462,063		17,011		3.7
Investment banking income	214,885		230,553		(15,668	)	(6.8	)
Trading account profits/(losses) and commissions	(361,711	)	113,047		(474,758	)	NM
Card fees	280,706		247,647		33,059		13.3
Mortgage production related income	90,983		217,428		(126,445	)	(58.2	)
Mortgage servicing related income	195,436		121,738		73,698		60.5
Net gain on sale upon merger of Lighthouse Partners	32,340		-		32,340		NM
Net gain on sale of Bond Trustee business	-		112,759		(112,759	)	(100.0	)
Net gain on sale/leaseback of premises	118,840		-		118,840		NM
Other noninterest income	349,907		329,055		20,852		6.3
Net securities gains/(losses)	243,117		(50,477	)	293,594		NM
Total noninterest income	3,428,684		3,468,372		(39,688	)	(1.1	)
NONINTEREST EXPENSE
Employee compensation and benefits	2,770,188		2,725,453		44,735		1.6
Net occupancy expense	351,238		334,213		17,025		5.1
Outside processing and software	410,945		393,576		17,369		4.4
Equipment expense	206,498		197,038		9,460		4.8
Marketing and customer development	195,043		173,205		21,838		12.6
Amortization of intangible assets	96,680		103,226		(6,546	)	(6.3	)
Loss on extinguishment of debt	9,800		11,665		(1,865	)	(16.0	)
Visa litigation	76,930		-		76,930		NM
Other noninterest expense	1,116,455		941,484		174,971		18.6
Total noninterest expense	5,233,777		4,879,860		353,917		7.3
INCOME BEFORE INCOME TAXES	2,249,529		2,986,441		(736,912	)	(24.7	)
Provision for income taxes	615,514		868,970		(253,456	)	(29.2	)
NET INCOME	1,634,015		2,117,471		(483,456	)	(22.8	)
Preferred dividends	30,275		7,729		22,546		NM
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$1,603,740		$2,109,742		($506,002	)	(24.0	)
REVENUE
Net interest income	$4,719,544		$4,660,465		$59,079		1.3	%
Taxable-equivalent adjustment	102,680		87,966		14,714		16.7
Net interest income - FTE	4,822,224		4,748,431		73,793		1.6
Noninterest income	3,428,684		3,468,372		(39,688	)	(1.1	)
Total revenue - FTE	$8,250,908		$8,216,803		$34,105		0.4
SELECTED AVERAGE BALANCES (Dollars in millions)
Average loans
Commercial-FTE	$34,194		$33,836		$358		1.1	%
Real estate home equity lines	14,031		13,565		466		3.4
Real estate construction	13,520		12,334		1,186		9.6
Real estate 1-4 family	31,951		33,524		(1,573	)	(4.7	)
Real estate commercial	12,803		12,804		(1	)	-
Credit card	496		315		181		57.3
Consumer - direct	4,221		4,461		(240	)	(5.4	)
Consumer - indirect	8,018		8,376		(358	)	(4.3	)
Nonaccrual and restructured	847		430		417		96.9
Total loans	$120,081		$119,645		$435		0.4	%
Average deposits
Noninterest bearing deposits	$21,677		$23,312		($1,635	)	(7.0	)%
NOW accounts	20,043		17,214		2,828		16.4
Money market accounts	22,677		24,508		(1,831	)	(7.5	)
Savings	4,609		5,371		(762	)	(14.2	)
Consumer and other time	29,015		26,770		2,245		8.4
Total consumer and commercial deposits	98,021		97,175		846		0.9
Brokered and foreign deposits	21,856		26,490		(4,634	)	(17.5	)
Total deposits	$119,877		$123,665		($3,789	)	(3.1	)%

¹ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 15

SunTrust Banks, Inc. and Subsidiaries

RETAIL LINE OF BUSINESS

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change3		December 31 2007		December 31 2006		% Change3
Statements of Income
Net interest income	$554,149		$591,210		(6.3	)%	$2,286,775		$2,344,972		(2.5	)%
FTE adjustment	32		41		(22.0	)	136		116		17.2
Net interest income - FTE	554,181		591,251		(6.3	)	2,286,911		2,345,088		(2.5	)
Provision for loan losses1	101,183		40,944		NM		266,566		105,985		NM
Net interest income after provision for loan losses - FTE	452,998		550,307		(17.7	)	2,020,345		2,239,103		(9.8	)
Noninterest income before securities gains/(losses)	292,418		257,962		13.4		1,103,870		1,050,858		5.0
Securities gains/(losses), net	-		(3	)	(100.0	)	3		(3	)	NM
Total noninterest income	292,418		257,959		13.4		1,103,873		1,050,855		5.0
Noninterest expense before amortization of intangible assets	533,542		511,977		4.2		2,112,887		2,080,549		1.6
Amortization of intangible assets	15,707		19,538		(19.6	)	68,917		84,168		(18.1	)
Total noninterest expense	549,249		531,515		3.3		2,181,804		2,164,717		0.8
Income before provision for income taxes	196,167		276,751		(29.1	)	942,414		1,125,241		(16.2	)
Provision for income taxes	69,761		100,188		(30.4	)	340,147		409,549		(16.9	)
FTE adjustment	32		41		(22.0	)	136		116		17.2
Net income	$126,374		$176,522		(28.4	)	$602,131		$715,576		(15.9	)
Total revenue - FTE	$846,599		$849,210		(0.3	)	$3,390,784		$3,395,943		(0.2	)
Selected Average Balances
Total loans	$31,953,928		$31,029,722		3.0	%	$31,712,896		$30,888,055		2.7	%
Goodwill	4,893,544		4,897,138		(0.1	)	4,895,165		4,891,911		0.1
Other intangible assets excluding MSRs	177,747		249,811		(28.8	)	203,371		280,829		(27.6	)
Total assets	38,532,232		37,480,928		2.8		38,007,827		37,772,328		0.6
Total deposits	67,537,884		69,541,644		(2.9	)	68,236,072		68,997,610		(1.1	)
Shareholders’ equity is not allocated at this time 2
Performance Ratios
Efficiency ratio	64.88	%	62.59	%			64.35	%	63.74	%
Impact of excluding amortization of intangible assets	(5.84	)	(6.06	)			(5.90	)	(6.27	)
Tangible efficiency ratio	59.04	%	56.53	%			58.45	%	57.47	%

¹ Provision for loan losses represents net charge-offs for the lines of business.

² Shareholders’ equity is not allocated to the lines of business at this time; business line performance does not include the funding benefit that would result from holding shareholders’ equity at the line of business level.

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 16

SunTrust Banks, Inc. and Subsidiaries

COMMERCIAL LINE OF BUSINESS

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change3		December 31 2007		December 31 2006		% Change3
Statements of Income
Net interest income	$212,617		$228,637		(7.0	)%	$870,321		$916,699		(5.1	)%
FTE adjustment	8,939		10,570		(15.4	)	37,144		40,942		(9.3	)
Net interest income-FTE	221,556		239,207		(7.4	)	907,465		957,641		(5.2	)
Provision for loan losses1	8,506		2,493		NM		22,187		9,701		NM
Net interest income after provision for loan losses-FTE	213,050		236,714		(10.0	)	885,278		947,940		(6.6	)
Noninterest income before securities gains/(losses)	78,930		72,250		9.2		298,564		284,053		5.1
Securities gains/(losses), net	-		-		-		-		-		-
Total noninterest income	78,930		72,250		9.2		298,564		284,053		5.1
Noninterest expense before amortization of intangible assets	220,319		175,818		25.3		721,215		679,725		6.1
Amortization of intangible assets	-		-		-		-		-		-
Total noninterest expense	220,319		175,818		25.3		721,215		679,725		6.1
Income before provision/(benefit) for income taxes	71,661		133,146		(46.2	)	462,627		552,268		(16.2	)
Provision/(benefit) for income taxes	(5,861	)	16,730		NM		52,388		86,869		(39.7	)
FTE adjustment	8,939		10,570		(15.4	)	37,144		40,942		(9.3	)
Net income	$68,583		$105,846		(35.2	)	$373,095		$424,457		(12.1	)
Total revenue-FTE	$300,486		$311,457		(3.5	)	$1,206,029		$1,241,694		(2.9	)
Selected Average Balances
Total loans	$32,793,163		$32,695,543		0.3	%	$32,980,016		$32,532,812		1.4	%
Goodwill	1,272,574		1,263,946		0.7		1,264,935		1,263,760		0.1
Other intangible assets excluding MSRs	-		-		-		-		-		-
Total assets	35,248,142		35,181,220		0.2		35,415,346		35,000,439		1.2
Total deposits	15,082,083		14,231,977		6.0		14,408,278		13,799,301		4.4
Shareholders’ equity is not allocated at this time 2
Performance Ratios
Efficiency ratio	73.32	%	56.45	%			59.80	%	54.74	%
Impact of excluding amortization of intangible assets	(3.34	)	(2.40	)			(2.63	)	(2.31	)
Tangible efficiency ratio	69.98	%	54.05	%			57.17	%	52.43	%

¹ Provision for loan losses represents net charge-offs for the lines of business.

² Shareholders’ equity is not allocated to the lines of business at this time; business line performance does not include the funding benefit that would result from holding shareholders’ equity at the line of business level.

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 17

SunTrust Banks, Inc. and Subsidiaries

CORPORATE AND INVESTMENT BANKING LINE OF BUSINESS

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change3		December 31 2007		December 31 2006		% Change3
Statements of Income
Net interest income	$42,353		$45,032		(5.9	)%	$174,848		$203,132		(13.9	)%
FTE adjustment	13,535		9,271		46.0		47,481		31,449		51.0
Net interest income-FTE	55,888		54,303		2.9		222,329		234,581		(5.2	)
Provision for loan losses1	7,277		108,979		(93.3	)	37,722		113,933		(66.9	)
Net interest income after provision for loan losses-FTE	48,611		(54,676	)	NM		184,607		120,648		53.0
Noninterest income before securities gains/(losses)	(13,800	)	210,299		NM		377,980		667,930		(43.4	)
Securities gains/(losses), net	-		-		-		-		(360	)	(100.0	)
Total noninterest income	(13,800	)	210,299		NM		377,980		667,570		(43.4	)
Noninterest expense before amortization of intangible assets	121,741		124,311		(2.1	)	489,274		491,860		(0.5	)
Amortization of intangible assets	122		122		-		488		488		-
Total noninterest expense	121,863		124,433		(2.1	)	489,762		492,348		(0.5	)
Income/(loss) before provision/(benefit) for income taxes	(87,052	)	31,190		NM		72,825		295,870		(75.4	)
Provision/(benefit) for income taxes	(46,322	)	(2,563	)	NM		(20,254	)	74,266		NM
FTE adjustment	13,535		9,271		46.0		47,481		31,449		51.0
Net income/(loss)	($54,265	)	$24,482		NM		$45,598		$190,155		(76.0	)
Total revenue-FTE	$42,088		$264,602		(84.1	)	$600,309		$902,151		(33.5	)
Selected Average Balances
Total loans	$16,492,416		$16,550,880		(0.4	)%	$15,990,281		$16,409,685		(2.6	)%
Goodwill	147,459		147,552		(0.1	)	147,465		147,571		(0.1	)
Other intangible assets excluding MSRs	919		1,402		(34.5	)	1,101		1,840		(40.2	)
Total assets	25,621,440		24,418,181		4.9		24,353,571		23,881,973		2.0
Total deposits	5,229,686		2,867,542		82.4		3,574,330		3,104,984		15.1
Shareholders’ equity is not allocated at this time 2
Performance Ratios
Efficiency ratio	289.54	%	47.03	%			81.58	%	54.57	%
Impact of excluding amortization of intangible assets	(11.34	)	(0.34	)			(0.95	)	(0.44	)
Tangible efficiency ratio	278.20	%	46.69	%			80.63	%	54.13	%

¹ Provision for loan losses represents net charge-offs for the lines of business.

² Shareholders’ equity is not allocated to the lines of business at this time; business line performance does not include the funding benefit that would result from holding shareholders’ equity at the line of business level.

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 18

SunTrust Banks, Inc. and Subsidiaries

MORTGAGE LINE OF BUSINESS

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change3		December 31 2007		December 31 2006		% Change3
Statements of Income
Net interest income	$129,322		$149,452		(13.5	)%	$527,079		$603,116		(12.6	)%
FTE adjustment	-		-		-		-		-		-
Net interest income-FTE	129,322		149,452		(13.5	)	527,079		603,116		(12.6	)
Provision for loan losses 1	46,163		3,013		NM		81,157		8,748		NM
Net interest income after provision for loan losses-FTE	83,159		146,439		(43.2	)	445,922		594,368		(25.0	)
Noninterest income before securities gains/(losses)	100,387		56,220		78.6		365,746		375,057		(2.5	)
Securities gains/(losses), net	-		4,367		(100.0	)	-		4,367		(100.0	)
Total noninterest income	100,387		60,587		65.7		365,746		379,424		(3.6	)
Noninterest expense before amortization of intangible assets	237,627		147,470		61.1		820,740		598,617		37.1
Amortization of intangible assets	763		763		-		3,053		3,053		-
Total noninterest expense	238,390		148,233		60.8		823,793		601,670		36.9
Income/(loss) before provision/(benefit) for income taxes	(54,844	)	58,793		NM		(12,125	)	372,122		NM
Provision/(benefit) for income taxes	(24,848	)	16,892		NM		(20,053	)	126,413		NM
FTE adjustment	-		-		-		-		-		-
Net income/(loss)	($29,996	)	$41,901		NM		$7,928		$245,709		(96.8	)
Total revenue-FTE	$229,709		$210,039		9.4		$892,825		$982,540		(9.1	)
Selected Average Balances
Total loans	$31,328,575		$32,330,762		(3.1	)%	$30,805,460		$31,232,994		(1.4	)%
Goodwill	276,598		275,557		0.4		276,459		269,374		2.6
Other intangible assets excluding MSRs	2,014		5,034		(60.0	)	3,151		6,173		(49.0	)
Total assets	44,820,010		44,535,299		0.6		45,554,333		42,014,601		8.4
Total deposits	2,048,331		1,949,280		5.1		2,136,678		1,810,720		18.0
Shareholders’ equity is not allocated at this time 2
Performance Ratios
Efficiency ratio	103.78	%	70.57	%			92.27	%	61.24	%
Impact of excluding amortization of intangible assets	(1.73	)	(1.37	)			(1.59	)	(1.05	)
Tangible efficiency ratio	102.05	%	69.20	%			90.68	%	60.19	%
Other Information
Production Data
Channel mix
Retail	$4,937,847		$6,101,389		(19.1	)%	$23,190,416		$23,894,336		(2.9	)%
Wholesale	5,128,463		5,629,254		(8.9	)	21,604,003		19,455,346		11.0
Correspondent	2,879,608		3,327,698		(13.5	)	13,552,369		12,027,244		12.7
Total production	$12,945,918		$15,058,341		(14.0	)	$58,346,788		$55,376,926		5.4
Channel mix-percent
Retail	38	%	41	%			40	%	43	%
Wholesale	40		37				37		35
Correspondent	22		22				23		22
Total production	100	%	100	%			100	%	100	%
Purchase and refinance mix
Refinance	$5,518,486		$7,023,225		(21.4	)	$25,073,101		$21,185,623		18.3
Purchase	7,427,432		8,035,116		(7.6	)	33,273,687		34,191,303		(2.7	)
Total production	$12,945,918		$15,058,341		(14.0	)	$58,346,788		$55,376,926		5.4
Purchase and refinance mix-percent
Refinance	43	%	47	%			43	%	38	%
Purchase	57		53				57		62
Total production	100	%	100	%			100	%	100	%
Applications	$21,676,536		$23,049,540		(6.0	)	$91,892,599		$86,958,077		5.7
Mortgage Servicing Data (End of Period)
Total loans serviced	$149,857,226		$129,976,337		15.3	%
Total loans serviced for others	114,635,081		91,543,434		25.2
Net carrying value of MSRs	1,049,426		810,509		29.5
Ratio of net carrying value of MSRs to total loans serviced for others	0.915	%	0.885	%

¹ Provision for loan losses represents net charge-offs for the lines of business.

² Shareholders’ equity is not allocated to the lines of business at this time; business line performance does not include the funding benefit that would result from holding shareholders’ equity at the line of business level.

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 19

SunTrust Banks, Inc. and Subsidiaries

WEALTH AND INVESTMENT MANAGEMENT LINE OF BUSINESS

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change3		December 31 2007		December 31 2006		% Change3
Statements of Income
Net interest income	$84,362		$94,339		(10.6	)%	$347,052		$369,484		(6.1	)%
FTE adjustment	13		18		(27.8	)	54		71		(23.9	)
Net interest income - FTE	84,375		94,357		(10.6	)	347,106		369,555		(6.1	)
Provision for loan losses 1	2,594		2,017		28.6		8,519		3,696		NM
Net interest income after provision for loan losses - FTE	81,781		92,340		(11.4	)	338,587		365,859		(7.5	)
Noninterest income before securities gains/(losses)	17,314		252,130		(93.1	)	807,947		1,096,116		(26.3	)
Securities gains/(losses), net	-		(16	)	(100.0	)	8		(70	)	NM
Total noninterest income	17,314		252,114		(93.1	)	807,955		1,096,046		(26.3	)
Noninterest expense before amortization of intangible assets	242,005		243,999		(0.8	)	985,147		986,977		(0.2	)
Amortization of intangible assets	6,719		3,662		83.5		23,456		14,630		60.3
Total noninterest expense	248,724		247,661		0.4		1,008,603		1,001,607		0.7
Income/(loss) before provision/(benefit) for income taxes	(149,629	)	96,793		NM		137,939		460,298		(70.0	)
Provision/(benefit) for income taxes	(52,793	)	35,645		NM		52,989		171,070		(69.0	)
FTE adjustment	13		18		(27.8	)	54		71		(23.9	)
Net income/(loss)	($96,849	)	$61,130		NM		$84,896		$289,157		(70.6	)
Total revenue - FTE	$101,689		$346,471		(70.7	)	$1,155,061		$1,465,601		(21.2	)
Selected Average Balances
Total loans	$7,795,906		$8,200,195		(4.9	)%	$7,965,365		$8,135,370		(2.1	)%
Goodwill	322,505		307,535		4.9		316,366		304,497		3.9
Other intangible assets excluding MSRs	131,775		120,649		9.2		129,995		122,729		5.9
Total assets	8,836,208		9,037,040		(2.2	)	8,901,646		8,933,309		(0.4	)
Total deposits	9,861,019		10,047,149		(1.9	)	9,780,563		9,477,307		3.2
Shareholders’ equity is not allocated at this time 2
Performance Ratios
Efficiency ratio	244.59	%	71.48	%			87.32	%	68.34	%
Impact of excluding amortization of intangible assets	(18.01	)	(2.00	)			(3.45	)	(1.84	)
Tangible efficiency ratio	226.58	%	69.48	%			83.87	%	66.50	%
Other Information (End of Period)
Assets under administration
Managed (discretionary) assets	$142,844,803		$141,295,195		1.1	%
Non-managed assets	60,903,024		57,729,842		5.5
Total assets under administration	203,747,827		199,025,037		2.4
Brokerage assets	41,576,425		39,255,777		5.9
Corporate trust assets	4,742,003		7,819,848		(39.4	)
Total assets under advisement	$250,066,255		$246,100,662		1.6

¹ Provision for loan losses represents net charge-offs for the lines of business.

² Shareholders’ equity is not allocated to the lines of business at this time; business line performance does not include the funding benefit that would result from holding shareholders’ equity at the line of business level.

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 20

SunTrust Banks, Inc. and Subsidiaries

CORPORATE OTHER AND TREASURY

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change2		December 31 2007		December 31 2006		% Change2
Statements of Income
Net interest income	$144,710		$52,619		NM	%	$513,469		$223,062		NM	%
FTE adjustment	4,725		3,977		18.8		17,865		15,388		16.1
Net interest income - FTE	149,435		56,596		NM		531,334		238,450		NM
Provision for loan losses1	191,058		(41,640	)	NM		248,771		20,473		NM
Net interest income after provision for loan losses - FTE	(41,623	)	98,236		NM		282,563		217,977		29.6
Noninterest income before securities gains/(losses)	95,074		(1,672	)	NM		231,460		44,835		NM
Securities gains/(losses), net	5,694		31,029		(81.6	)	243,106		(54,411	)	NM
Total noninterest income	100,768		29,357		NM		474,566		(9,576	)	NM
Noninterest expense before amortization of intangible assets	76,693		5,898		NM		7,834		(61,094	)	NM
Amortization of intangible assets	103		219		(53.0	)	766		887		(13.6	)
Total noninterest expense	76,796		6,117		NM		8,600		(60,207	)	NM
Income/(loss) before provision/(benefit) for income taxes	(17,651	)	121,476		NM		748,529		268,608		NM
Provision/(benefit) for income taxes	(19,653	)	21,026		NM		210,297		803		NM
FTE adjustment	4,725		3,977		18.8		17,865		15,388		16.1
Net income/(loss)	($2,723	)	$96,473		NM		$520,367		$252,417		NM
Total revenue - FTE	$250,203		$85,953		NM		$1,005,900		$228,874		NM
Measures excluding securities gains/(losses), net 3
Total revenue - FTE	$250,203		$85,953		NM		$1,005,900		$228,874		NM
Securities (gains)/losses, net	(5,694	)	(31,029	)	(81.6	)	(243,106	)	54,411		NM
Total revenue - FTE excluding net securities (gains)/losses	$244,509		$54,924		NM		$762,794		$283,285		NM
Net income/(loss)	($2,723	)	$96,473		NM		$520,367		$252,417		NM
Securities (gains)/losses, net of tax	(3,530	)	(19,238	)	(81.6	)	(150,726	)	33,735		NM
Net income/(loss) excluding net securities (gains)/losses, net of tax	($6,253	)	$77,235		NM		$369,641		$286,152		29.2
Selected Average Balances
Total loans	$730,354		$556,735		31.2	%	$626,533		$446,247		40.4	%
Securities available for sale	13,715,798		22,998,944		(40.4	)	17,197,201		24,276,341		(29.2	)
Goodwill	(36	)	4,771		NM		5,400		6,897		(21.7	)
Other intangible assets excluding MSRs	4,580		5,403		(15.2	)	4,869		5,733		(15.1	)
Total assets	22,072,432		31,690,606		(30.4	)	25,562,795		32,712,496		(21.9	)
Total deposits (mainly brokered and foreign)	15,606,504		26,039,507		(40.1	)	21,740,646		26,475,572		(17.9	)
	December 31 2007		September 30 2007
Other Information
Duration of investment portfolio	3.8	%	4.6	%
Accounting net interest income interest rate sensitivity 4:
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months	0.1	%	0.6	%
Instantaneous 100 bp decrease in rates over next 12 months	(0.8	) %	(0.9	)%
Economic net interest income interest rate sensitivity 4:
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months	(1.0	) %	(0.6	)%
Instantaneous 100 bp decrease in rates over next 12 months	0.3	%	0.2	%

¹ Provision for loan losses represents difference between net charge-offs for the lines of business and consolidated provision for loan losses.

² “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

³ SunTrust presents total revenue excluding realized securities gains/losses. The Company believes total revenue without the securities gains/losses is more indicative of the Company’s performance because it isolates income that is primarily customer relationship and customer transaction driven.

⁴ The recognition of interest rate sensitivity from an accounting perspective is different from the economic perspective due to the election of fair value accounting for the related interest rate swaps. The net interest income sensitivity profile from an economic perspective assumes the net interest payments from the related swaps were included in margin.

Page 21

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED - SEGMENT TOTALS

(Dollars in thousands)     (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31 2007		December 31 2006		% Change1		December 31 2007		December 31 2006		% Change1
Statements of Income
Net interest income	$1,167,513		$1,161,289		0.5	%	$4,719,544		$4,660,465		1.3	%
FTE adjustment	27,244		23,877		14.1		102,680		87,966		16.7
Net interest income - FTE	1,194,757		1,185,166		0.8		4,822,224		4,748,431		1.6
Provision for loan losses	356,781		115,806		NM		664,922		262,536		NM
Net interest income after provision for loan losses - FTE	837,976		1,069,360		(21.6	)	4,157,302		4,485,895		(7.3	)
Noninterest income before securities gains/(losses)	570,323		847,189		(32.7	)	3,185,567		3,518,849		(9.5	)
Securities gains/(losses), net	5,694		35,377		(83.9	)	243,117		(50,477	)	NM
Total noninterest income	576,017		882,566		(34.7	)	3,428,684		3,468,372		(1.1	)
Noninterest expense before amortization of intangible assets	1,431,927		1,209,473		18.4		5,137,097		4,776,634		7.5
Amortization of intangible assets	23,414		24,304		(3.7	)	96,680		103,226		(6.3	)
Total noninterest expense	1,455,341		1,233,777		18.0		5,233,777		4,879,860		7.3
Income/(loss) before provision/(benefit) for income taxes	(41,348	)	718,149		NM		2,352,209		3,074,407		(23.5	)
Provision/(benefit) for income taxes	(79,716	)	187,918		NM		615,514		868,970		(29.2	)
FTE adjustment	27,244		23,877		14.1		102,680		87,966		16.7
Net income	$11,124		$506,354		(97.8	)	$1,634,015		$2,117,471		(22.8	)
Total revenue - FTE	$1,770,774		$2,067,732		(14.4	)	$8,250,908		$8,216,803		0.4
Selected Average Balances
Total loans	$121,094,342		$121,363,837		(0.2	)%	$120,080,551		$119,645,163		0.4	%
Goodwill	6,912,644		6,896,499		0.2		6,905,790		6,884,010		0.3
Other intangible assets excluding MSRs	317,035		382,299		(17.1	)	342,487		417,304		(17.9	)
Total assets	175,130,464		182,343,274		(4.0	)	177,795,518		180,315,146		(1.4	)
Total deposits	115,365,507		124,677,099		(7.5	)	119,876,567		123,665,494		(3.1	)
Performance Ratios
Efficiency ratio	82.19	%	59.67	%			63.43	%	59.39	%
Impact of excluding amortization of intangible assets	(1.33	)	(1.18	)			(1.17	)	(1.26	)
Tangible efficiency ratio	80.86	%	58.49	%			62.26	%	58.13	%

¹ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

Page 22

EX-99.2

SunTrust Banks, Inc.

4Q 2007 Earnings Presentation

January 23, 2008

Exhibit 99.2

1

The following should be read in conjunction with the financial statements, notes and other information contained in the Company’s 2006 Annual Report on Form 10-K, Quarterly

Reports 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,

and

in

particular

the

outlook

statements

provided

at

slides

22-23,

are

forward-looking

statements.

These

statements

often

include

the

words

“may,”

“could,”

“will,”

“should,”

“believes,”

“expects,”

“anticipates,”

“estimates,”

“intends,”

“plans,”

“targets,”

“initiatives,”

“potentially,”

“probably,”

“projects,”

“outlook”

or similar expressions.  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 are subject to 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 SunTrust’s results to differ materially from those described in the forward-looking statements

can be found in the Company's 2006 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:

(1)

adverse

changes

in

general

business or economic conditions could have a material adverse effect on our financial condition and results of operations; (2) 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; (3) the fiscal and monetary policies of the federal government and its

agencies could have a material adverse effect on our earnings; (4) changes in securities markets or markets for commercial or residential real estate could harm our revenues and

profitability; (5) customers could pursue alternatives to bank deposits, causing us to lose a relatively inexpensive source of funding; (6) customers may decide not to use banks to

complete their financial transactions, which could affect net income; (7) we have businesses other than banking, which subjects us to a variety of risks; (8) hurricanes and other natural

disasters may adversely affect loan portfolios and operations and increase the cost of doing business; (9) negative public opinion could damage our reputation and adversely impact our

business; (10) we rely on other companies for key components of our business infrastructure; (11) we rely on our systems, employees and certain counterparties, and certain failures

could

materially

adversely

affect

our

operations;

(12)

we

depend

on

the

accuracy

and

completeness

of

information

about

clients

and

counterparties;

(13)

regulation

by

federal

and

state

agencies could adversely affect our business, revenues, and profit margins; (14) competition in the financial services industry is intense and could result in losing business or reducing

profit

margins;

(15)

future

legislation

could

harm

our

competitive

position;

(16)

maintaining

or

increasing

market

share

depends

on

market

acceptance

and

regulatory

approval

of

new

products and services; (17) our ability to receive dividends from our subsidiaries accounts for most of our revenues and could affect our liquidity and ability to pay dividends; (18)

significant legal actions could subject us to substantial uninsured liabilities; (19) 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; (20) we depend on the expertise of key personnel without whom our operations may suffer; (21) 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; (22) 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; (23) changes in our accounting policies or in accounting standards could materially affect how we report our financial

results and condition; (24) our stock price can be volatile; (25) our disclosure controls and procedures may fail to prevent or detect all errors or acts of fraud; (26) our trading assets and

financial instruments carried at fair value expose the Company to certain market risks; (27) weakness in residential property values and mortgage loan markets could adversely affect us;

(28) we may be required to repurchase mortgage loans or indemnify mortgage loan purchasers as a result of breaches of representations and warranties, borrower fraud, or certain

borrower defaults, which could harm our liquidity, results of operations and financial condition; and (29) we may enter into transactions with off-balance sheet entities affiliated with

SunTrust or its subsidiaries which may cause us to recognize current or future losses.

2

4Q 2007 Financial Performance

Income Statement Summary

($ in millions, except per share data)

4Q 2007             4Q 2006         

2007                 2006

% Change

% Change

Twelve Months Ended Dec 31

Net Interest Income (FTE)

$1,194.8

1%

$4,822.2

2%

Provision for Loan Losses

356.8

208%

664.9

153%

Noninterest

Income

576.0

(35)%

3,428.7

(1)%

Total

Revenue

(FTE)

1,770.8

(14)%

8,250.9

0%

Total Noninterest

Expense

1,455.3

18%

5,233.8

7%

Provision for Income Taxes

(79.7)

NM

615.5

(29)%

Net

Income

Available

to

Common

Shareholders

3.3

(99)%

1,603.7

(24)%

Net Income Per Average Common Diluted Share

$   0.01

(99)%

$     4.55

(22)%

Fourth Quarter Earnings Materially Impacted by Credit and

Market Valuation Write-Downs

3

1.

Does

not

include

initial

costs,

non-recurring

expense

reductions,

and

non-recurring

gains

associated

with

E

implementation

2.

Total realized expense reductions achieved during 2007

E   Efficiency and Productivity Program: Estimated Gross Cost Savings

1,2

($ in millions)

Gross Cost Savings

For 4Q  

= $75 Million

$0.0

$135.0

$90.0

$45.0

$181.0

2007 Savings of $215.2 Million is 119% of Goal

$215.2

2

2

4

1.

Does

not

include

initial

costs,

non-recurring

expense

reductions,

or

non-recurring

gains

associated

with

E

implementation

($ in millions)

E  Efficiency and Productivity Program: Estimated Gross Cost Savings

Actual

Goal

Goal

Cumulative Total

2007

2008

2009

Corporate Real Estate

$100

Supplier Management

115

Offshoring/Outsourcing

45

$215            $350            $530

Process Reengineering                    125

Organizational Review                      145

TOTAL

$530

Savings for Fiscal Year 2009 Represent Over 10% of 2006 Expense

Base

2

2

1

5

Capital & Coca-Cola Stock

Tier 1 Ratio (9/30)

7.44%

Capital Security Redemption     (0.22)

Securities Purchases                  (0.25)

Higher Loan Loss Provision      (0.08)

Other

0.11

Estimated Tier 1 Ratio (12/31) 

7.00%

Tier 1 target remains 7.50%

Tangible equity to tangible assets ratio of 6.28%

Pursuing certain transactions authorized by the BOD regarding our Coca-Cola stock holdings;

under

review

by

the

appropriate

regulatory

and

other

relevant

parties

Under

any

of

the

authorized

transactions,

Tier

1

capital

would

increase

by

approximately

$1

billion

Expect to provide additional detail around these transactions during 2Q 2008

Evaluating the Capital Markets and may issue capital securities during the first quarter

Tier 1 Ratio Fell Below Target at Year End; We Expect to be 

Above Target with Planned Transactions

6

Financial Topics:  Margin

2.94%

3.02%

3.10%

3.13%

3.18%

4Q 2006

1Q 2007

2Q 2007

3Q 2007

4Q 2007

3Q 2007 Margin

3.18%

Deposit Pricing Pressure

(0.08)

Decline in Earning Asset Yields

(0.14)

Lower Wholesale Funding Costs

0.17

4Q 2007 Margin

3.13%

After Three Quarters of Expansion Totaling 24 bps, Margin

Slipped by 5 bps to 3.13%

1Q 2008 margin is likely to compress slightly due to the securities purchased in 4Q 2007

For the remainder of 2008, we expect margin to stabilize and possibly expand, depending               

upon deposit pricing and volumes, the Libor/Prime relationship, and the level of NPA’s

7

Financial Topics:  Provision

Provision

$356.8           $147.0        $104.7

Net Charge-Offs

$168.0           $103.7        $  88.3

Net Charge-Off Ratio

0.55%           0.34%         0.30%

Net ALLL Increase                $188.8           $  43.3       $  16.4

Allowance to Loan Ratio       1.05%            0.91%        0.88%

4Q 2007

3Q 2007

2Q 2007

($ in millions)

Provision

Expense

Covers

Charge-Offs

Plus

a

14

bp

Increase

in the Allowance to Loan Ratio

8

Financial Topics:  Three Pillars Funding

Three Pillars is an off-balance sheet, multi-seller asset-backed commercial paper (ABCP)

program established in 1999 to finance the receivables of SunTrust’s corporate clients

Three Pillars had $7.7 billion in commitments with $4.6 billion of outstanding ABCP on

12/31/2007 supporting 48 client transactions

Client transactions are typically structured to an implied A rating and we have not incurred

losses on any client related transactions since inception

Three Pillars also held $718 million of highly-rated ABS in 4Q 2007 and 83% of the $718

million

portfolio

of

bonds

are

AAA/Aaa

rated

and

17%

are

AA/Aa

rated

In the 3Q and 4Q, deterioration in the performance of the underlying collateral and market

illiquidity began materially decreasing the market value of the securities, and a review of the

remittance reports received on 12/26/2007 showed continued deterioration in collateral

performance

In order to reduce the risk profile of Three Pillars, SunTrust Management decided to purchase

the $718 million

in

ABS

securities

and

record

a

market

valuation

write-down

of

$145

million

Through January 16th, all bonds have maintained their original ratings and none have been

placed on a “ratings watch”

During the week of January 7th, SunTrust sold 3 of the highest risk bonds with current par

values of $104

million

at

prices

roughly

equal

to

the

12/31/2007

carrying

values

Purchased $718 Million in Asset-Backed Securities (ABS) from

Three Pillars on December 31, 2007 and Recorded a $145 Million

Market Valuation Write-Down

9

Financial Topics:  STI Classic Funds

As previously announced on December 20th, SunTrust purchased $1.4 Billion of securities

from

the

STI

Classic

Prime

Quality

Money

Market

Fund

and

the

STI

Classic

Institutional

Cash

Management Money Market Fund at the end of the 4Q

The securities have been recorded in Trading Assets on SunTrust’s balance sheet and a

market valuation write-down of $250 million was recorded in the 4Q

SunTrust took this preemptive action to protect its approximately 142,000 account holders

from possible future losses associated with these securities

We believe this action enhances our reputation with clients and protects the revenue value of

the other products and services purchased by the Fund’s shareholders throughout the Bank

Excluding the non-performing SIVs, 94% of the securities mature by June 30, 2008.  $185

million in payments have been received in January, and another $155 million is expected by

month end

Purchased $1.4 Billion in Securities from its Affiliated Mutual Fund

Complex in 4Q 2007 and Recorded a $250 Million Market Valuation

Write-Down

10

Financial Topics:  Private Placement Fund Update

In 3Q 2007 SunTrust disclosed the planned closure of a private placement fund and that 

shareholder’s of the fund would receive their full principal and interest due in cash

The $967 million in securities were consolidated on the Company’s balance sheet at 9/30/2007

These

securities

had

original

AAA

ratings

and

consist

of

roughly

80%

RMBS

A market valuation write-down of approximately $16.0 million was recorded in the 3Q

The market value of these securities declined significantly during the fourth quarter due to

trading activity in some of the securities, and as a result we determined that an additional $116

million write-down was appropriate

After a fundamental review of the likely intrinsic value of the securities if held to maturity,

SunTrust has decided for now to hold these securities

Recorded 4Q 2007 Market Valuation Write-Down of $116 Million on

$967 Million in Securities Consolidated in 3Q 2007 as a Result of the

Closure of a Private Placement Fund

11

Financial Topics:  Noninterest

Income

SIV’s

Purchased from STI Classic Funds

$250

Securities Purchased from Three Pillars

145

Other Market Valuation Impacts:

Capital Markets

50

Mortgage

78

Treasury

–

Securities

Marks                     116

Treasury

–

SunTrust

Debt      

(84)

160

TOTAL

$555

Capital Markets related write-downs

declined from $121 million in 3Q to $50

million in 4Q

Mortgage write-downs decreased from $88

million in 3Q to $78 million in 4Q

Corporate debt security spreads widened

even more in 4Q creating an $84 million

write-up in the value of SunTrust fixed rate

debt

Solid performance in fee income with

double digit percentage growth over 4Q

2006 in service charges, retail investment

services, card fees, and mortgage servicing

($ in millions)

$555 Million Market Valuation Write-Downs on Securities and Loans

Drove

a

35%

Decrease

in

Noninterest

Income

versus

4Q

2006

12

Financial Topics:  Trading Assets

Dec 31           Sept 30

2007

2007

Change

U.S. Gov’t

& Agency

$   4,133

$4,215          $    (82)

Corporate & Other

3,440

970             2,470

Equity

243

325                 (82)

Mortgage Backed

321

494              (173)

Derivative Contracts

1,977

1,612

365

Municipal                                

171 

241                 (70)

Commercial Paper                            2  

673              (671)

Securitization Warehouse            61

894              (833)

Other Securities

170

143

27

TOTAL

$10,518         $9,567

$ 951

($ in millions)

Trading Assets Increase by $951 Million Driven by the Purchase of

Securities from STI Mutual Funds and Three Pillars

Growth in Corporate &

Other includes carrying

value of SIV and Three

Pillars securities

purchased in December

Securitization warehouse

declined by $833 million

due in part to securitization

of CLO loans

13

Financial Topics:  Capital Markets Related Impacts

Significant Steps Taken to Mitigate Securitization-Related Exposure

Dec 31       Sept 30

Warehouse

2007

2007

RMBS

$  0.0  

$       2.4

CLO

0.0

420.2

SBA

61.0

471.1

Sub-Total                          

$61.0   

$  893.7

Other Exposure

STI CLO

$ 45.7        $

48.5

CDO

6.9 

21.1

CLO

23.2  

8.1

RMBS

0.4

29.6

Trups

4.8

6.7

Sub-Total

81.0

114.0

TOTAL

$142.0 

$1,007.7

CLO reduction from securitization with

$365 million AAA portion retained in

Treasury portfolio

SBA

loans

re-classified

as

U.S.

Gov’t

&

Agency and approximately half sold

during 4Q 2007

CDO & RMBS exposures reduced

through write-downs and sales

($ in millions)

14

Financial Topics:  Expense Growth

($ in millions)

$

%

2007

2006

Change

Change

Noninterest

Expense

$5,233.8   

$4,879.9             $353.9              7.3%           

Net

E

Non-Recurring

(61.7)

(13.4)

Elimination

of

FAS

91

Deferral

(78.4)

-

Reversal of LILO QTE Reserve

-

10.9

Capital Security Redemption                        33.6

-

Visa Litigation Accrual                                 (76.9) 

-

Affordable Housing Divestitures                 (63.5)         

(14.8)     

Adjusted Noninterest

Expense

$4,986.9

$4,862.6            $124.3             

Credit Related

$   262.4

$   146.4            $116.0             79.2%

1. 

Includes $45 million of severance recorded in 3Q 2007

2.  Related to fair value accounting election in May 2007

3.  Includes operating losses, credit and collections, and other real estate expense

2007 Full Year Core Expense Growth of $124 Million (2.6%)

Driven Entirely by Increased Credit Related Costs

2.6%

2

1

3

2

15

Loan Portfolio: $122,319

Credit Perspective

($ in millions)

Dec 31

Sept 30

%

2007

2007

Change

Commercial

$35,929

$34,970

2.7%

Real Estate:

Home Equity

14,912

14,599

2.1

Construction

13,777

14,359

(4.1)

Residential Mortgages

32,780

31,604

3.7

Commercial Real Estate

12,609

12,487

1.0

Consumer:

Direct

3,964

4,419

(10.3)

Indirect

7,494

7,642

(1.9)

Credit Card

854

668

27.8

Total Loans

$122,319

$120,748

1.3%

Growth in C&I and Mortgage; Declines in Construction and

Consumer

16

Residential Mortgages $32,780

Credit Perspective

(As of 12/31/07, in millions)

Portfolio Profile

Credit Quality Metrics

%

Dec 31                                Orig

Current                    $              

60+

Balance

%

WACLTV

WAFICO

NPL

DLQ

Core Portfolio        

$21,831     

66.6%   

76%    

733              $323          1.40%

Home Equity                 3,625         11.0            73   

722                   41          0.80

Prime 2   

(Insured)      3,919         12.0            93                

721                   49          1.60

Lot Loans

1,681

5.1            84                        

729                   87          3.30

Alt-A 1                   

1,204           3.7            76                       

664                 276          8.30

Alt-A 2       

520

1.6

98  

634

65

6.50

$32,780 

100.0%        83%                              701        

$841         2.00%

1.  %60+ DPD does not include nonaccruals

90% of Portfolio has High FICO and Low LTV or Insurance

nd

st

nd

1

17

Home Equity Lines $14,912

Credit Perspective

(As of 12/31/07, in millions)

Portfolio Profile

Credit Quality Metrics

4Q

Dec 31          % of

Orig

Current                      C/O

%                  30+

Balance

Portfolio

WACLTV

WAFICO

%

NPL

DLQ

3   Party Originated

$1,836

12.3%         86%

715                   3.85%         2.59%         5.41%   

CLTV > 90%  

2,561          17.2      

95            736                

1.85        

1.11     

2.65

Florida 

3,518          23.6      

67            720                

0.92         

0.96     

2.10

All Other            

6,997

46.9

67

722

0.44

0.42

1.41

$14,912       100.0%      

74%   

723        

1.23%   

0.91%  

2.29% 

1.  Excludes 3   party originated

2. Excludes 3    party originated, CLTV 90+%

3.

Excludes 3    party originated, CLTV 90+% and Florida

Performance Issues Largely Confined to 3   Party and Higher LTV

Portions of Portfolio

rd

rd

1

2

3

rd

rd

rd

18

Construction $13,777

Credit Perspective

(As of 12/31/07, in millions)

Portfolio Statistics

Credit Quality Metrics

Avg

FL           %

Dec 31              % of

%           Size                  4Q07            $  

NPL         30+

Balance

Portfolio

FL

$000’s

$C/O

NPL

%

DLQ

Construction Perm

$3,555              26%         31%       445       

$1.4

$99.0       51%     4.36%

Residential

Construction               

2,731              20            31          391           

3.9      132.3       55        1.34

Residential A&D              2,146              15   

28 

662          

1.4        45.7     

53        0.54

Commercial

Construction            

3,293              24      

28       1,400    

0.0         4.0          6        0.22

Commercial A&D                791      

6 

27          771               

0.2   

4.5          9        0.08

Raw Land

1,261

9

34

712                

0.0

10.0

7

0.13

$13,777            100%  

29%                              $6.9   $295.5    

50%     6.67%

Low Charge-Offs to Date; Commercial Performing Well, with Stress

Most Evident in Florida Residential

19

Nonperforming Assets $1,655

Credit Perspective

(As of 12/31/07, in millions)

Dec 31       

% of

Balance

NPA

Residential Construction & A&D

$179

10.8%

Construction Perm

99                  

6.0

Other

17 

1.0

Total Construction

295

17.8          

Residential Mortgage

& HELOC

977

59.0

Total Construction & Mortgage              

1,272                               76.8

All Other

158

9.5

Subtotal -

Nonaccrual

loans

1,430                               86.3

Restructured/OREO       

225

13.6

TOTAL  NPA’s

$1,655

100.0%       

Growth in NPAs

Driven by Relatively Well Secured Residential

Mortgage and Construction Loans

20

Appendix

21

Additional Financial Disclosures

($ in millions)

4Q 2007

3Q 2007

Trading Account Profits and Commissions

Market Valuation Write-Downs

$(477)                            $(73)

Mortgage Production Income

Mark-to-Market (Spread widening

$  (78)

$ (88)

& NPL Marks)

Mortgage Servicing Income

Revenue From Sale of Mortgage Servicing Rights

$   19

$ 20

Other

Noninterest

Expense

Affordable Housing

$   58

$    6

22

Outlook

Capital & Margin

Tier 1 ratio fell below target at year end; we expect to be above target with planned transactions

Tier 1 target remains 7.50%

We expect that under any of the authorized Coca-Cola Stock transactions, Tier 1 capital would increase by

approximately $1 billion and SunTrust expects to provide additional detail around these transactions during 2Q 2008

We

are

also

evaluating

the

Capital

Markets

and

may

issue

capital

securities

during

the

first

quarter

We do

not

anticipate

any

issues

in

maintaining

our

dividend.

As

has

been

the

standard

practice

over

the

years, the

Board will consider SunTrust’s dividend policy when it meets in February

1Q 2008 margin is likely to compress slightly due to the securities purchased in 4Q 2007

For the remainder of 2008, we expect margin to stabilize and possibly expand, depending upon deposit pricing and

volumes, the Libor/Prime relationship, and the level of NPA’s

Credit

The 5% of the Residential Mortgage portfolio secured by residential lots is showing stress with 60+ delinquency in

excess of 3%.  While the credit quality of the borrowers is holding up well, the delinquency rate, original LTV and outlook

for residential values and construction activity point to more losses in this portfolio

Alt-A 1   lien loans:  We

expect

NPL’s

to

increase

further.

However,

ultimately

we

expect

the

loss

content

to be

manageable given the 24% valuation cushion at origination.

We

continue

to

expect

that

the

loss

content

in

current

NPA’s

will

be manageable

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

1

st

23

Outlook

Credit (continued)

We

expect

charge-offs

to

increase

in

the

first

quarter

and

perhaps

second

quarter

in

the

consumer/residential

real

estate-based portfolios.  We are projecting charge-offs to moderate in the second half in these portfolios, relatively good

C&I performance, and increasing risk and charge-offs in residential construction/Home Builder as current weakness

turns into charge-offs later in the year.  The key risk to these expectations are a broad recession and significant

additional declines in real estate values

We expect charge-offs to trend up in the near term.  However, given our underwriting standards, collateral position, and

risk mitigation activities, we expect 2008 losses to be manageable

Revenue & Expense

In this environment, we would expect our Commercial Clients to be relatively conservative in investing for growth and

that means 2008 will be tough year for loan and revenue growth

Three Pillars is performing well and we expect it will remain off balance sheet

The markets remain volatile and we expect to receive December performance data later this month that could affect

values

Based on estimates provided by Visa regarding its planned IPO, we currently believe our ownership interest in Visa has

a value significantly in excess of $77 million

Our

organizational

review

efforts

will

result

in

the

elimination

of

2,400

positions

E  goal is to achieve savings of $530 million, or 10% of our 2006 expense base during the 2009 fiscal year, and with a

fourth quarter run-rate of $75 million we are well on our way to meeting our 2008 goal of $350 million

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

1

2