EX-99.1 2 dex991.htm SLIDE PACKAGE TO BE PRESENTED ON NOVEMBER 7, 2008 Slide package to be presented on November 7, 2008
BancAnalysts Association of Boston Conference
November 7, 2008
James M. Wells III
Chairman, President and Chief Executive Officer
Exhibit 99.1

Important Cautionary Statement About Forward-Looking Statements
The following should be read in conjunction with the financial statements, notes and other information contained in the Company’s 2007 Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K.
This presentation includes non-GAAP financial measures to describe SunTrust’s performance.  The reconciliation of those measures to GAAP measures are provided within this presentation.  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.
This
presentation
may
contain
forward-looking
statements.
Statements
that
do
not
describe
historical
or
current
facts,
including
statements
about
beliefs
and
expectations,
are
forward-looking
statements.
These
statements
often
include
the
words
“believes,”
“expects,”
“anticipates,”
“estimates,”
“intends,”
“plans,”
“targets,”
“initiatives,”
“potentially,”
“probably,”
“projects,”
“outlook”
or
similar
expressions
or
future
conditional
verbs
such
as
“may,”
“will,”
“should,”
“would,”
and
“could.”
Such
statements
are
based
upon
the
current
beliefs
and
expectations
of
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
we
do
not
assume
any
obligation
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
actual
results
to
differ
materially
from
those
described
in
the
forward-looking
statements
can
be
found
in
Exhibit
99.3
to
our
Current
Reports
on
Form
8-K
filed
on
October
23,
2008
with
the
Securities
and
Exchange
Commission
and
available
at
the
Securities
and
Exchange
Commission’s
internet
site
(http://www.sec.gov),
which
is
incorporated
by
reference
herein.
Those
factors
include:
difficult
market
conditions
have
adversely
affected
our
industry;
current
levels
of
market
volatility
are
unprecedented;
the
soundness
of
other
financial
institutions
could
adversely
affect
us;
there
can
be
no
assurance
that
recently
enacted
legislation
will
stabilize
the
U.S.
financial
system;
the
impact
on
us
of
recently
enacted
legislation,
in
particular
the
Emergency
Economic
Stabilization
Act
of
2008
and
its
implementing
regulations,
and
actions
by
the
FDIC,
cannot
be
predicted
at
this
time;
credit
risk;
weakness
in
the
economy
and
in
the
real
estate
market,
including
specific
weakness
within
our
geographic
footprint,
has
adversely
affected
us
and
may
continue
to
adversely
affect
us;weakness
in
the
real
estate
market,
including
the
secondary
residential
mortgage
loan
markets,
has
adversely
affected
us
and
may
continue
to
adversely
affect
us;
as
a
financial
services
company,
adverse
changes
in
general
business
or
economic
conditions
could
have
a
material
adverse
effect
on
our
financial
condition
and
results
of
operations;
changes
in
market
interest
rates
or
capital
markets
could
adversely
affect
our
revenue
and
expense,
the
value
of
assets
and
obligations,
and
the
availability
and
cost
of
capital
or
liquidity;
the
fiscal
and
monetary
policies
of
the
federal
government
and
its
agencies
could
have
a
material
adverse
effect
on
our
earnings;
we
may
be
required
to
repurchase
mortgage
loans
or
indemnify
mortgage
loan
purchasers
as
a
result
of
breaches
of
representations
andwarranties,
borrower
fraud,
or
certain
borrower
defaults,
which
could
harm
our
liquidity,
results
of
operations
and
financial
condition;
clients
could
pursue
alternatives
to
bank
deposits,
causing
us
to
lose
a
relatively
inexpensive
source
of
funding;
consumers
may
decide
not
to
use
banks
to
complete
their
financial
transactions,
which
could
affect
net
income;
we
have
businesses
other
than
banking
which
subject
us
to
a
variety
of
risks;
hurricanes
and
other
natural
disasters
may
adversely
affect
loan
portfolios
and
operations
and
increase
the
cost
of
doing
business;
negative
public
opinion
could
damage
our
reputation
and
adversely
impact
our
business
and
revenues;
we
rely
on
other
companies
to
provide
key
components
of
our
business
infrastructure;
we
rely
on
our
systems,
employees
and
certain
counterparties,
and
certain
failures
could
materially
adversely
affect
our
operations;we
depend
on
the
accuracy
and
completeness
of
information
about
clients
and
counterparties;
regulation
by
federal
and
state
agencies
could
adversely
affect
our
business,
revenue
and
profit
margins;
competition
in
the
financial
services
industry
is
intense
and
could
result
in
losing
business
or
reducing
margins;
future
legislation
could
harm
our
competitive
position;
maintaining
or
increasing
market
share
depends
on
market
acceptance
and
regulatory
approval
of
new
products
and
services;
we
may
not
pay
dividends
on
our
common
stock;
our
ability
to
receive
dividends
from
our
subsidiaries
accounts
for
most
of
our
revenue
and
could
affect
our
liquidity
and
ability
to
pay
dividends;
significant
legal
actions
could
subject
us
to
substantial
uninsured
liabilities;
recently
declining
values
of
residential
real
estate
may
increase
our
credit
losses,
which
would
negatively
affect
our
financial
results;
deteriorating
credit
quality,
particularly
in
real
estate
loans,
has
adversely
impacted
us
and
may
continue
to
adversely
impact
us;
disruptions
in
our
ability
to
access
global
capital
markets
may
negatively
affect
our
capital
resources
and
liquidity;
any
reduction
in
our
credit
rating
could
increase
the
cost
of
our
funding
from
the
capital
markets;
we
have
in
the
past
and
may
in
the
future
pursue
acquisitions,
which
could
affect
costs
and
from
which
we
may
not
be
able
to
realize
anticipated
benefits;
we
depend
on
the
expertise
of
key
personnel;
we
may
not
be
able
to
hire
or
retain
additional
qualified
personnel
and
recruiting
and
compensation
costs
may
increase
as
a
result
of
turnover,
both
of
which
may
increase
costs
and
reduce
profitability
and
may
adversely
impact
our
ability
to
implement
our
business
strategy;
our
accounting
policies
and
methods
are
key
to
how
we
report
our
financial
condition
and
results
of
operations,
and
these
require
us
to
make
estimates
about
matters
that
are
uncertain;
changes
in
our
accounting
policies
or
in
accounting
standards
could
materially
affect
how
we
report
our
financial
results
and
condition;
our
stock
price
can
be
volatile;
our
disclosure
controls
and
procedures
may
not
prevent
or
detect
all
errors
or
acts
of
fraud;
our
financial
instruments
carried
at
fair
value
expose
us
to
certain
market
risks;
our
revenues
derived
from
our
investment
securities
may
be
volatile
and
subject
to
a
variety
of
risks;
we
may
enter
into
transactionswith
off-balance
sheet
affiliates
or
our
subsidiaries
that
could
result
in
current
or
future
gains
or
losses
or
the
possible
consolidation
of
those
entities;
and
we
are
subject
to
market
risk
associated
with
our
asset
management
and
commercial
paper
conduit
businesses.

2
Investment Thesis
Diversified Franchise
•
Meaningful consumer and commercial
platforms
•
Attractive, diverse geographic profile
•
Strong market share in core markets
•
Significant fee-oriented activities
complement spread-based business
•
Strengthened capital ratios
•
Attractive, long-term dividend growth
•
Diversified sources of funding; large, stable
deposit base is primary source of liquidity
•
Diversified credit profile
•
Aggressively managing risk positions
Strategic Initiatives for Growth
•
Improving efficiency
and productivity
•
Generating momentum
with revenue initiatives
•
Continuing to optimize
balance sheet and
business mix
Stable Base of Operations Provides Foundation for Future Growth
Solid Capital Structure and
Balance Sheet

3
Diversified Franchise

4
Diversified Franchise
Retail &
Commercial
Wholesale
Mortgage
Wealth &
Investment
Management
Meaningful Consumer and Commercial Platforms
Scope       
of
Operations
Market
Focus
-
National
-
~200 Relationship
Managers
-
Full line of
investment banking
products and
services
-
Middle Market:               
$100MM-$750MM
-
Corporate Banking:
>$750MM
-
Commercial RE:
commercial and
residential developers  
& investors
-
Investment banking
sales to commercial and
W&IM clients
-
National
-
Full array of private
wealth management
and institutional
solutions including
personal and
institutional
investment
management
-
AUM = $129.5B
-
Individuals in need of
private wealth mgmt.
including banking,
trust, brokerage and
asset management
solutions
-
Organizations in
need of institutional
administrative and
investment solutions
-
National
-
Ranked #9 in total
originations in 2Q
2008
-
Mortgage servicing
portfolio of $159.3B
-
Prime based platform,
~98% of 3Q 2008
originations for sale were
agency
-
48% of production
through 3Q 2008 was
retail originated
1.
Inside Mortgage Finance, 09/26/08
2.
As of 9/30/08
-
SunTrust footprint
-
1,692 branches
-
2,506 ATMs
-
~800 Relationship
Managers 
-
Retail clients in
SunTrust footprint
-
Business clients in
SunTrust footprint
with revenues
<$100MM
-
Government and
not-for-profit
enterprises
1
2

5
Other
4%
Florida
31%
North
Carolina
6%
Tennessee
9%
Virginia
12%
Georgia
32%
Maryland
6%
Diversified Franchise
1,773 Branches
Other
6%
Florida
33%
North Carolina
11%
Tennessee
10%
Virginia
14%
Georgia
18%
Maryland
8%
$120 Billion in Deposits
Attractive, Diverse Geographic Profile
1.
Deposit, branches and share data from SNL.  Deposits as of June 30, 2008.  Demographic information from Claritas. 5 year population growth is 2007-2012
2.
Data from SNL, as of June 30, 2008, includes nontraditional locations
3.
Deposit balances as of June 2008 from Company financial statements.  State breakdown from SNL as of June 2008
SunTrust Footprint
-
7.5% projected 5 year population growth vs. 4.6%
U.S. average
-
Projected household income growth is above the U.S. average
-
Ranked top 3 in 19 of top 25 markets, representing 86% of total
MSA deposits and average deposit market share of 15%
1
2
3

6
Diversified Franchise
Fee
Income
47%
Net
Interest
Income
(FTE)
53%
Fee
Income
32%
Net
Interest
Income
(FTE)
68%
1997
2008 YTD
1.  Excludes Corporate/Other and Reconciling Items, as defined in the Company’s 10-K filing
2.
Excludes Securities Gains/Losses
3.
Year to date as of September 30, 2008
Significant Fee-Oriented Activities Complement Spread-Based Business
Significant Fee-Oriented Activities Complement Spread-Based Business
3
1
Total Revenue FTE   
Retail &
Commercial
53%
Wholesale
16%
Mortgage
13%
Wealth &
Investment
Management
18%
2008 YTD
3
2
Rising Contribution of Fee Income

7
Solid Capital and Balance Sheet

8
Strengthened Capital Ratios
3Q 2008
2Q 2008
Change           
Tier 1 Capital Ratio
8.15%
7.47%
68 bps
Total Capital Ratio
11.16%
10.85%
31 bps
Total Avg. Equity to Total Avg. Assets
10.34%    
10.31%                     3 bps
Tangible Equity to Tangible Assets        
6.40%     
6.27%
13 bps
Capital Ratios
Participation in the Capital Purchase Program
•
Received approval for the sale of $3.5 billion (requested amount) in preferred stock and related warrants
•
Based on current estimates, this will bring Tier 1 capital over 10%
•
Funds will be used for prudent loan growth and expansion of business capabilities including the exploration
of potential acquisitions that are in line with long-term strategic goals
•
Maintenance of capital at elevated levels is desirable at this time
Dividend Cut by 30%
•
Quarterly dividend cut to $0.54 per common share effective with the next dividend
•
Reduced to preserve capital given difficult and uncertain economic times
4Q 2008 Events

9
Solid Capital and Balance Sheet
Proactively Reducing Risk Profile and Improving Capital Position
4Q07
2Q07
1Q07
3Q07
Delevered balance sheet
by over $9B in
conjunction with early
adoption of SFAS
157/159
Reduced securitization
exposure (CLO, SBA,
CDO and RMBS)
to $142MM from
$1B at 3Q07
Sold 9% of Coke
holdings; announced
review of remaining
Coke position
1Q08
54% ($1.9B)
reduction in
higher risk trading
assets
2Q08
3Q08
Sold 10MM
shares of Coke
and improved
Tier 1 ratio           
20 bps
Additional 53%
reduction in higher risk
trading assets leaves
$768MM
30MM Coke
share Tier 1
transaction
complete
3.6MM Coke
share
charitable
contribution
Sale of $3.5
billion in
preferred stock
and related
warrants to the
U.S. Treasury
30%
reduction in
common
stock
dividend
4Q08

10
Funding & Liquidity
Stable Funding and Strong Liquidity Position
Funding
•
Deposits fund 66% of total assets and 91% of loans
•
Core deposits are 88% of total deposits
Liquidity
•
No Holding Company debt maturing until October 2009 ($300 million)
•
Average daily overnight borrowing position down significantly coincident with a 25% decrease in
brokered and foreign deposits
•
Combined available contingent liquidity from the Fed, FLHB, and free securities exceeds $28 billion
1.  At September 30, 2008
2.  At September 30, 2008, core deposits exclude brokered and foreign deposits
1
2

11
Commercial
15%
Residential
Mortgages
33%
Home Equity
Lines
29%
Consumer
10%
Construction
13%
Diversified Credit Profile
Commercial
8%
Residential
Mortgages
47%
Construction
32%
Consumer
1%
Commercial
Real Estate
5%
Home Equity
Lines
7%
Nonaccrual Loans 9/30/08
3Q 2008 Net Charge-Offs
Loan Portfolio 9/30/08
Diversified Credit Profile and Strong Credit Culture
1
1. Consumer includes credit card portfolio of $1.0 billion
Home
Equity Lines
13%
Commercial
Real Estate
11%
Consumer
10%
Construction
9%
Residential
Mortgages
25%
Commercial
32%

12
Diversified Credit Profile
Commercial
and
Commercial
Real
Estate
Comprise
43%
of
Loans
1. Largely owner-occupied
2. Restated to reflect portfolio redistribution of GB&T from Real Estate Construction to Commercial Real Estate during Q3 system
conversion
1
Balance
% of
C/O Ratio
C/O Ratio
30-89 DLQ%
30-89 DLQ%
($ millions)
09/30/2008
Portfolio
3Q08
2Q08
3Q08
2Q08
2
Commercial
$40,085
32%
0.59%
0.42%
0.38%
0.36%
Commercial Real Estate
1
13,842
11%
-
0.02%
0.49%
0.57%
Consumer
12,731
10%
1.17%
1.05%
3.36%
2.82%
Real Estate Home Equity Lines
16,159
13%
2.97%
2.40%
1.48%
1.19%
Real Estate 1-4 Family
32,382
25%
1.57%
1.49%
2.03%
1.90%
Real Estate Construction
11,519
9%
1.73%
1.16%
3.37%
3.88%
Total
$126,718
100%
1.24%
1.04%
1.52%
1.48%

13
Diversified Credit Profile
Asset Quality Continued to Weaken, 30-89 Days Past Due Remains Stable
1.24%
1.04%
0.97%
1.54%
1.25%
1.46%
1.52%
1.52%
1.48%
0.70%
0.80%
0.90%
1.00%
1.10%
1.20%
1.30%
1.40%
1.50%
1.60%
1Q 2008
2Q 2008
3Q 2008
Net Charge-Offs
ALLL to Loans
30-89 Days Past Due

14
The Subset of Portfolios That Is Under Stress Comprises 12% of the Total Loan
Book; We Have Taken Aggressive Actions to Mitigate Risk
Aggressively Managing Risk Positions
•
Eliminated Alt-A lending
•
Aggressively managing collection and loss
mitigation initiatives
•
Significantly increased reserves
-----------------------------------------------------------------
•
Eliminated >85% LTV production
from all channels
•
Added restrictions on LTVs, DTI, and FICO,
particularly in high risk markets
•
Closed or reduced lines to high risk
accounts (3  
party
originated, high CLTV,
high risk markets)
-----------------------------------------------------------------
•
Identified less well positioned builders
and engaged in risk mitigation
•
Added controls, tightened underwriting, and
implemented special guidelines for certain
markets
•
Focused effort to reduce residential
construction has reduced outstandings by
$2.7B during past year
•
More than 50% of residential builder
balance reduction has occurred in Florida
and Atlanta portfolios
Actions
09/30/2008
% of Total
Current
($ in millions)
Balance
Portfolio
FICO
Balance
% of Bal
Residential Mortgages
   Lot Loans
$1,447
1.1%
708
$187
12.9%
   Alt-A 1st
917
0.7%
642
200
21.8%
   Alt-A 2nd
382
0.3%
621
52
13.6%
Home Equity Lines
   3rd Party Originated
1,903
1.5%
732
65
3.4%
   CLTV > 80% (Florida)
1,945
1.5%
735
50
2.6%
   CLTV > 90%
1,763
1.4%
738
24
1.3%
Construction
   Construction Perm
2,030
1.6%
na
287
14.1%
   Residential Construction
2,328
1.8%
na
282
12.1%
   Residential A&D
2,029
1.6%
na
320
15.8%
   Residential Land
611
0.5%
na
111
18.2%
Stressed Total
$15,355
12.1%
$1,578
10.3%
Remaining Portfolio
$111,363
87.9%
$1,712
1.5%
Nonaccrual Loans
rd

15
Strategic Initiatives for Growth

16
Strategic Initiatives for Growth
•
2009
gross
expense
savings
represent
11%
of
2006
expense
base
1
•
Full year 2008 savings expected to approximate $540 million
•
Key contributors to achieving 2009 goal of $600 million include supplier management,
outsourcing, and process reengineering
Efficiency and Productivity Program is Changing the Corporate Culture
1.
Does
not
include
initial
costs,
non-recurring
expense
reductions,
and
non-recurring
gains
associated
with
E
implementation
2.
Gross cost savings goals include approximately $50 million of interest expense savings related to reduced financing costs from disposition
of corporate real estate, which was fully realized beginning in 2Q 2008
Projected
Expense
Savings
from
the
E
Efficiency
and
Productivity
Program
($ in millions)
$540                     
2008 Run Rate
Savings
2
2
$600                     
2009 Program
Goal
2

17
Strategic Initiatives for Growth
Investing For Growth
E
Expense Savings
•
Previously announced elimination of
~2,400 positions, or 7% of the workforce
by year end 2008
•
Shed excess office space by
approximately 25%
–
sold over $1 billion of branch and
office space
•
Reduced approximately 10% of supplier
expenses
•
Completed projects that save money and
“ease doing business with SunTrust”
–
new credit support structure that
streamlines routine decision process
from one week to under three days
•
Continue to invest in high growth
markets
–
~40 new branches in 2008
•
Increase advertising and marketing
expenditures to drive client and
deposit acquisition
•
Implement new technology to
improve retail sales and service
platforms
•
Invest in the development of
Treasury & Payment Solutions
products
Ongoing Effort to Generate Expense Savings and Invest for Growth
2

18
Strategic Initiatives for Growth
Retail & Commercial
Wholesale
Generating Momentum with Revenue Initiatives
•
Grow Corporate Banking Revenue
—industry
specific
coverage
model
drove
23%
growth
in
new
business
revenue
•
Increase Market Share in Middle Market Segment
—complete range of products
delivered through local relationship management
•
Grow Capital Markets Cross-Sale Revenue
—21% capital markets revenue growth in
Wholesale,
Commercial
and
W&IM
client
bases
•
Core Household Growth
—checking households grew 10% and total households grew
7%
•
Business Deposit Growth
—2008
new
business
checking
accounts
grew
12%
•
Enhanced Loan Margin
—targeting increased loan margin over the next 12-36 months
1.
From September 2007 to September 2008
2.
YTD as of September 30, 2008 compared to the same period 2007
1
2
2
2

19
Strategic Initiatives for Growth
Wealth & Investment Management
Generating Momentum with Revenue Initiatives
•
New Business Revenue Growth
—leverage unified managed account capability and
increased sales and retention focus of relationship managers
•
Leverage RidgeWorth’s Holding Company/Boutique Structure to Beat the Lipper
Peer Group
—more than 77% of RidgeWorth I shares beat their respective Lipper
Peer Group average for the 1,3, and 5-year periods
Mortgage
•
Drive Checking Account Cross-Sales by Tying Electronic Mortgage Payment
Drafting to the Newly Created Account
—penetration rate has improved 60% to 1
out of every 3 prospects
•
Grow FHA Volume
—nearly a 500% increase
1.
3Q 2008 as compared to 3Q 2007
1

20
Strategic Initiatives for Growth
•
GB&T Bancshares, Inc.
•
Alpha Asset Management
•
TBK Investments, Inc.
Selectively Divest: Non-Core Business Units
•
TransPlatinum
•
First Mercantile Trust Co.
•
Lighthouse (Fund of Funds Manager)
Continue to Optimize Balance Sheet and Business Mix
Balance Sheet
Grow: Higher Margin, Higher Risk Adjusted Return Products and Services
•
Commercial Lending
•
Deposits (Improved Mix)
•
Fee Income Businesses
•
Indirect Lending
•
Construction Lending
•
Brokered Deposits
Shrink: Lower Risk Adjusted Return Assets and Higher Cost Deposits
Business Mix
Invest In: Core Businesses That Leverage Core Competencies

21
Investment Thesis
Diversified Franchise
•
Meaningful consumer and commercial
platforms
•
Attractive, diverse geographic profile
•
Strong market share in core markets
•
Significant fee-oriented activities
complement spread-based business
•
Strengthened capital ratios
•
Attractive, long-term dividend growth
•
Diversified sources of funding; large, stable
deposit base is primary source of liquidity
•
Diversified credit profile
•
Aggressively managing risk positions
Strategic Initiatives for Growth
•
Improving efficiency
and productivity
•
Generating momentum
with revenue initiatives
•
Continuing to optimize
balance sheet and
business mix
Stable Base of Operations Provides Foundation for Future Growth
Solid Capital Structure and
Balance Sheet

BancAnalysts Association of Boston Conference
November 7, 2008
James M. Wells III
Chairman, President and Chief Executive Officer

23
Appendix

24
September 30,
2008
Total Shareholders' Equity
$17,956.0
Goodwill
(7,062.9)
Other Intangible Assets including MSRs
(1,328.1)
MSRs
1,150.0
Tangible Equity
$10,715.0
Total Assets
$174,776.8
Goodwill
(7,062.9)
Other Intangible Assets including MSRs
(1,390.0)
MSRs
1,150.0
Tangible Assets
$167,473.9
Tangible Equity to Tangible Assets
6.40%
Non GAAP Reconcilement
($ in millions)