Presentation Materials dated April 23, 2009

SunTrust Banks, Inc.

1Q 2009 Earnings Presentation

April 23, 2009

Exhibit 99.2

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 2008 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 or in the appendix

of 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 contains forward-looking statements. Statements regarding net interest margin, future levels of charge-offs, provision expense, and income are forward-looking statements.

Also, any statement that does not describe historical or current facts, including statements about beliefs and expectations, is a forward-looking statement. 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. 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 at Item

1A of our annual report on Form 10-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: 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 ,or any proposed federal programs, will stabilize the U.S. financial system, and such legislation and programs

may adversely affect us; the impact on us of recently enacted legislation, in particular the EESA 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; weakness in the real

estate market may adversely affect our reinsurance subsidiary; 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 and warranties, 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, increases in unemployment, and the related effects on

local economics 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. If these individuals leave or change their roles without effective replacements, operations may suffer; 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 processes are critical 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 transactions with off-balance sheet affiliates or our

subsidiaries; and we are subject to market risk associated with our asset management and commercial paper conduit businesses.

I. HIGHLIGHTS

II.

CAPITAL

III. FINANCIAL PERFORMANCE

IV. RISK REVIEW

V. APPENDIX

Table of Contents

First Quarter Highlights

•

While there were some preliminary signs of improvement in several key areas, results

indicate that SunTrust is still working through credit and earnings challenges

•

EPS loss of $2.49; loss of $0.46

excluding non-cash goodwill impairment charge

•

Solid capital position enhanced; estimated Tier 1 Ratio of 11.00% and increased tangible

common ratio

•

Consumer and Commercial deposit growth accelerated in the first quarter to a record level

of $112 billion at quarter end

•

Revenue increased from last quarter due to strong mortgage origination income which

was partially offset by soft net interest income and lower economically sensitive fee

income

•

Overall asset quality deteriorated in the quarter, while the portfolios showed mixed results

•

Expenses well managed; however, economically cyclical FDIC, pension and credit

expenses impacted results

•

Focus remains on front-line execution and improved service quality, risk mitigation, and

expense management to successfully emerge from this recession strong and well

positioned to deliver superior shareholder returns

I. HIGHLIGHTS

Please refer to the appendix to this presentation for a reconcilement to the most directly comparable GAAP financial measure

Solid Capital Ratios Improved in 1Q 2009

Tier 1 Capital Ratio

Total Capital Ratio

Total Avg. Equity to Total Avg. Assets

Tangible Equity to Tangible Assets

Tangible Common Equity to Tangible Assets

•

Received $4.9 billion in proceeds and Tier 1 capital from sale of preferred securities to U.S. Treasury in

4Q 2008

•

Increased ratios in 1Q 2009 driven primarily by a reduction in assets from 4Q 2008 MBS sale settlement

and lower trading assets

Capital Ratios

1Q 2009

4Q 2008

3Q 2008

Estimate Actual Actual

II. CAPITAL

Please refer to the appendix to this presentation for a reconcilement to the most directly comparable GAAP financial measure

11.00%

14.15%

12.51%

8.85%

5.82%

10.87%

14.04%

11.23%

8.46%

5.59%

8.15%

11.16%

10.41%

6.47%

6.17%

($ in millions, except per share data)

$1,093.0

994.1

1,146.5

2,239.5

2,177.3

1,426.2 (10)%

(965.9)

(150.8)

71.3

(875.4)

(160.6)

(2.49)

$ (0.46)

1Q 2009 Loss of $2.49 Per Share and Loss of $0.46 Per Share Excluding Goodwill Charge

Income Statement Highlights

III.

FINANCIAL

PERFORMANCE

Net Interest Income (FTE)

Provision for Loan Losses

Noninterest Income

Total Revenue (FTE)

Total Noninterest Expense

Total

Noninterest

Expense

Excl

Goodwill

Pre-Tax Loss

Benefit for Income Taxes

Preferred Dividends

Net Loss to Common Shareholders

Net Loss to Common Excl Goodwill

Net Loss Per Average Common Diluted Share

Net

Loss

Per

Excl

Goodwill

NM = Not Meaningful—those changes over 1000% or where results changed from positive to negative

% Change

1Q 2009 4Q 2008 1Q 2008

Please refer to the appendix to this presentation for a reconcilement to the most directly comparable GAAP financial measure

(10)%

60%

16%

(47)%

51%

126%

(133)%

57%

(133)%

57%

(6)%

78%

74%

14%

922%

37%

($ in millions, quarterly average balances)

Balance Sheet Summary

Commercial

Real Estate Home Equity Lines

Real Estate Construction

Real Estate 1-4 Family

Real Estate Commercial

Consumer –

Direct

Consumer –

Indirect

Credit Card

Total Loans

Noninterest-Bearing Deposits

NOW Accounts

Money Market Accounts

Savings

Consumer Time

Other Time

Total Consumer and Commercial Deposits

Brokered & Foreign Deposits

Total Deposits

1Q 2009

4Q 2008

1Q 2008

Annualized

% Change

III. FINANCIAL PERFORMANCE

$ 39,199

(3)%

(13)%

15,907

7,376

(17)%

(69)%

(41)%

29,945

(3)%

(14)%

(8)%

15,339

16%

17%

5,165

12%

27%

6,624 (3)%

(12)%

(13)%

972

(3)%

(11)%

26%

$120,527

(3)%

(10)% (1)%

$ 22,827

36%

11%

21,244

23%

(3)%

29,317 5%

19%

16%

3,443

(2)%

(12)%

17,240

13,444

23%

107,515 5% 21%

7,417

(41)% (165)%

(52)%

$114,932

0% 0%

(1)%

Excludes $4.8 billion of nonaccrual and restructured loans

Deposit Growth Accelerated in the Quarter and Mix Improved

$3.4

$3.3

$3.4

$30.1

$29.1

$28.8

$28.3

$24.4

$22.9

$20.9

$21.2

$21.0

$20.9

$21.8

$20.8

$17.3

$17.2

$17.3

$13.3

$13.0

$13.7

$3.5

$20

$40

$60

$80

$100

$120

Dec 2008

Jan 2009

Feb 2009

Mar 2009

MMA

DDA

NOW

CD <$100

CD >$100

Savings

Core Consumer and Commercial Deposits Showed Record Growth and

Favorable Mix Trends

1. Graph depicts average product balances by month

+5.4%

flat

+4.8%

+16.7%

+6.4%

3-Month

Growth

+5.0%

Consumer and Commercial Deposit Trends

III. FINANCIAL PERFORMANCE

$103.8

$104.8

$106.9

$110.8

+6.7%

($ in billions)

3.07%

3.13%

3.07%

2.87%

3.14%

1Q 2008

2Q 2008

3Q 2008

4Q 2008

1Q 2009

Margin of 2.87% Compressed 27 bps from 4Q 2008

•

Margin compression in 1Q driven by:

•

Short-term rate declines

•

Deposit pricing floors and deposit

growth

•

Sale of AFS securities in 4Q

•

Increased NPA’s

•

Opportunities for margin include

significant CD re-pricing in 2Q and 3Q,

refinancing of additional wholesale

funding, and DDA volumes

•

Risks include rising NPA’s, higher

interest-bearing deposit volumes and

further declines in LIBOR

•

Based on current assumptions, margin

expected to be relatively stable for the

next quarter or two, and slight

expansion is possible

Net Interest Margin

III. FINANCIAL PERFORMANCE

($ in millions)

Provision Expense Up 3% Versus 4Q 2008, as Charge-offs Increased 10% and

Allowance Increased to 2.21%

Provision For Loan Loss

III. FINANCIAL PERFORMANCE

Provision

Net Charge-offs

Net Charge-off Ratio

Net ALLL Increase

Allowance to Loan Ratio

$994.1

$610.1

1.97%

$384.0

2.21%

Increase in ALLL in 2Q 2008 is greater than provision less charge-offs due to acquisition of GB&T

1Q 2009 4Q 2008 3Q 2008 2Q 2008 1Q 2008

$962.5

$552.5

1.72%

$410.0

$503.7

$392.1

1.24%

$111.6

$448.0

$322.7

1.04%

$284.1

$560.0

$297.2

0.97%

$262.8

1.86%

1.54%

1.46%

1.25%

Noninterest Income

$1,147 $718 $1,058 60% 8%

Net Adjustments

123 (86)

Adjusted Noninterest Income

$1,024

$804 $988

($ in millions)

Core Noninterest Income Up 4% versus last year and 27% Sequential Quarter Driven by

Mortgage-Related Revenue

27% 4%

1. Adjustment detail included in appendix includes securities gains and losses

2. Please refer to the appendix to this presentation for a

reconcilement to the most directly comparable GAAP financial measure

Noninterest Income

III. FINANCIAL PERFORMANCE

% Change

1Q 2009 4Q 2008 1Q 2008 4Q 2008 1Q 2008

74%

12%

$150

108

(5)

$183

Expense Results

Noninterest Expense

Goodwill

Impairment/Other

Adjusted

Noninterest

Expense

Expense Driver Analysis

Total Adjusted Incr/(Decr)

Credit

Costs

FDIC

Pension

FICA/401K (seasonal)

Sub-Total of Expense Drivers

Noisy Quarter in Expenses Impacted by Goodwill Charge, Mortgage Fraud Losses and a

Few Economically Cyclical and Seasonal Items

1. Adjustment detail included in appendix

2. Includes operating losses, credit and collections, other real estate expense, and additions to mortgage re-insurance reserves

Change

1Q 2009 4Q 2008 1Q 2008

4Q 2008

1Q 2008

($ in millions)

Noninterest Expense

III. FINANCIAL PERFORMANCE

Change

$2,177

751

$1,426

185

$1,586

$1,573

416

$1,252

(24)

$1,276

37%

(9)%

$(147)

(231)

$(135)

Classification of Losses

•

Borrower misrepresentation

•

Insured loan claim denials

•

Criminal loan fraud

•

Deposit/check/ATM fraud

•

Bank errors

•

Litigation settlements and

damage awards

•

Criminal loan fraud

•

Deposit/check/ATM fraud

•

Bank errors

•

Litigation settlements and

damage awards

Operating

Losses

Other

Real Estate

Provision Expense

2008

2009

•

Operating expense for foreclosed

properties

•

Net gain or loss including selling

expense on disposal of foreclosed

properties

•

Valuation adjustments

•

Operating expense for foreclosed

properties

•

Net gain or loss including selling

expense on disposal of foreclosed

properties

•

Valuation adjustments

•

Net charge-offs

•

Incr/(Decr) in ALLL

•

Net charge-offs

•

Incr/(Decr) in ALLL

•

Borrower misrepresentation

•

Insured loan claim denials

IV. RISK REVIEW

Changing Classification Related to Reserving and Recording Certain Fraud and Claim

Denial Losses in 2009

Classification of Losses

IV. RISK REVIEW

Costs of Borrower Misrepresentation and Insurance Claim Denials Moves to Provision

1. Remaining operating loss reserves of $42.4 is expected to be fully utilized during 2Q 2009

2009

2008

Change

millions

Operating Loss Reserves

Beginning Balance

207.0

40.0

167.0

Increase / (Decrease)

(164.6)

167.0

(331.6)

Ending Balance

42.4

207.0

(164.6)

Operating Loss Expense

Written-off

187.2

69.1

118.1

Accrued

(164.6)

167.0

(331.6)

Total

22.6

236.1

(213.5)

Misrep/Claim Denial ALLL Reserves

Beginning Balance

Increase

173.0

Ending Balance

173.0

Misrep/Claim Denial Provision Expense

Charge-off

17.6

Accrued

173.0

Total

190.6

Total Misrep/Claim Denial and Operating Loss Expense

213.2

236.1

(22.9)

TotalMisrep/Claim Denial Related Reserves

215.4

207.0

8.4

Securities Portfolio

IV. RISK REVIEW

Approximately 80% of Fixed Income Securities in High Liquidity Govt/Agency Securities

Liquidity

Total

Trading

AFS

($ in billions)

$26.9

$ 7.4

$ 19.5

TOTAL SECURITIES PORTFOLIO

N/A

4.1

Derivative

$ 2.1

$ 0.1

$ 2.0

TOTAL EQUITIES

N/A

High

$ 0.7

1.4

$ 0.1

$ 0.7

1.3

Equities:

Federal Reserve/FHLB Stock

Other Equities & Options (Coke)

$20.7

$ 3.2

$ 17.5

TOTAL FIXED INCOME

High

Moderate

Low

$ 1.7

14.5

1.2

2.2

0.5

0.6

$ 1.2

0.2

1.1

0.5

$ 0.5

14.3

1.0

1.1

0.5

0.1

Fixed Income:

US Treasury/Agency Notes

Agency MBS

Municipal Bonds

Corporate Bonds

Private MBS

Miscellaneous Acquired Assets

1. Includes approximately

$230

million

securities

acquired

2007

and

approximately

$380

million

carrying

value

ARS

3/31/09

2. Matched book of derivatives maintained for client driven capital markets activities

Asset Quality Metrics

IV. RISK REVIEW

ALLL Increased 35 bps to 2.21% of Loans; Early Stage Delinquencies Declined

millions

2009

2008

1Q09

4Q08

3Q08

Total Loans at End of Period

$123,893.0

$126,998.4

$126,718.4

-$3,105.4

$280.0

Allowance for Loans & Lease Losses

2,735.0

2,351.0

1,941.0

384.0

410.0

Net Charge-offs

610.1

552.5

392.1

57.6

160.4

Provision Expense

994.1

962.5

503.7

31.6

458.8

NPAs

5,246.4

4,456.4

3,690.3

790.0

766.1

NPLs

to Total Loans

3.75%

3.10%

2.60%

0.65%

0.50%

NPAs

to Total Loans + OREO/OA

4.21%

3.49%

2.90%

0.72%

0.59%

ALLL to Loans

2.21%

1.86%

1.54%

0.35%

0.32%

NCOs (annualized to Average Loans)

1.97%

1.72%

1.24%

0.25%

0.48%

30-89 Days Past Due

1.76%

1.81%

1.52%

-0.05%

0.29%

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Loan Portfolio

IV. RISK REVIEW

Delinquencies Were Stable; Modest Increase in Charge-offs;

Residential Real Estate Continued to Dominate Credit Risk Profile

1. CRE -

4Q 2008 charge-offs were largely the result of one commercial-purpose credit secured by real estate

2. Consumer -

Direct includes approximately $3 billion of federally guaranteed student loans

Balance % of Balance % of

C/O Ratio C/O Ratio 30-89 DLQ% 30-89 DLQ%

$ millions 3/31/2009 Portfolio 12/31/2008 Portfolio 1Q09 4Q08 1Q09 4Q08

Commercial

$38,616

31%

$41,040

32%

1.35%

0.81%

0.37%

0.36%

Commercial Real Estate

(1)

15,094

12%

14,957

12%

0.05%

0.61%

0.72%

0.63%

Consumer -

Direct

(2)

5,173

5,139

0.54%

0.90%

5.25%

5.16%

Consumer -

Indirect

6,351

6,508

2.00%

3.12%

1.84%

2.19%

Credit Cards

976

970

6.94%

4.92%

3.25%

3.00%

Real Estate Home Equity Lines

16,455

13%

16,454

13%

4.00%

3.33%

1.44%

1.65%

Real Estate 1-4 Family

32,181

27%

32,066

25%

2.28%

1.86%

2.79%

2.93%

Real Estate Construction

9,047

9,864

3.76%

3.29%

4.24%

4.13%

Total

$123,893

100%

$126,998

100%

1.97%

1.72%

1.76%

1.81%

1. Excludes $68.3 million of C & I loans secured by residential real estate and $61.6 million of mark-to-market loans held for sale

2. Does not include nonaccruals

Residential Mortgages $32,181 million

Portfolio Profile

Credit Quality Metrics

Loan Type

3/31/09

Balance

12/31/08

Balance

3/31/2009

$ Nonaccruals

12/31/2008

$ Nonaccruals

60+ DLQ

Core Portfolio

$23,906

$23,143

$1,293

$ 938

2.43%

2.57%

Home Equity Loans

2,333

2,504

0.98

0.85

Prime

3,509

3,843

128

225

3.06

2.93

Lot Loans

1,329

1,391

252

209

5.30

5.67

Alt-A

819

865

250

204

8.02

12.79

Alt-A

285

320

8.60

13.32

Total

$32,181

$32,066

$2,048

$1,686

2.71%

2.98%

Residential Mortgages

IV. RISK REVIEW

Delinquencies

Improved

and

Balances

Declined

the

Highest

Risk

Segments

the

Mortgage Portfolio; Nonaccruals Trended up, as Anticipated

($ millions)

3/31/09

12/31/08

Home Equity Lines $16,455 million

1. Excludes 3rd

party originated

2. Excludes 3rd party originated and Florida CLTV > 80%

3. Excludes 3rd party originated, Florida CLTV>80% and CLTV

90+%

4. Annualized quarterly rate

Portfolio Profile

Credit Quality Metrics

Type

3/31/09

Balance

% of

Total

12/31/08

Balance

Q1 09

Charge-off

Q4 08

Charge-off

Q1 09

Nonaccrual

Q4 08

Nonaccrual

3rd

Party

Originated

$1,782

11%

$1,859

14.08%

10.63%

4.63%

4.30%

CLTV > 80%

(Florida)

1,853

1,868

8.48

7.06

3.91

3.00

CLTV > 90%

1,695

1,739

4.00

3.58

1.71

1.60

All Other

11,125

10,988

1.82

1.45

1.22

0.97

Total

$16,455

100%

$16,454

4.00%

3.33%

1.96%

1.66%

Home Equity Lines

IV. RISK REVIEW

Two HELOC Sub-Segments, Third Party Originated and High CLTVs in Florida, That

Accounted for Just 22% of the Portfolio Continued to Drive Overall Credit Performance

($ millions)

Excludes consumer home equity loans

Excludes C & I loans secured by residential real estate, mark-to-market loans held for sale and consumer home equity loans

743

Updated FICO

687

Updated FICO

$323

60.7%

8.7%

8.5%

5.1%

$16,455

38.8%

15.6%

14.2%

8.1%

73.7%

744

Home Equity Lines

Residential Mortgage

Updated FICO

(excluding NPLs)

717

Updated FICO

(excluding NPLs)

Original LTV

78.6 %

Original CLTV

Portfolio

Florida

Georgia

Virginia

N.Carolina

$29,848

(1)

29.8%

14.4%

10.9%

7.7%

Portfolio

Florida

Virginia

Georgia

Maryland

NPLs

Florida

Georgia

California

Virginia

$1,979

(2)

49.0%

10.9%

8.8%

6.1%

NPLs

Florida

Virginia

Georgia

Maryland

Mortgage and Home Equity Statistics

IV. RISK REVIEW

Current

FICO

Scores

are

Indicative

Prime

Portfolios;

However,

Mortgage

and

HELOC Nonperforming Loans are Driven by Florida Real Estate Concentrations

($ millions)

1. Annualized first quarter net charge-off ratio

($ millions)

Balances Declined Steadily –

Down Over $800 Million, or 8.3%, in 1Q 2009.

Residential Construction Credit Metrics were Weak; Commercial Construction Metrics

were Solid

Construction $9,047 million

Portfolio Profile

Credit Quality Metrics

Type

03/31/09

Balance

Portfolio

Avg.

Size

$000’s

C/O

NPLs

30 +

DLQ

Construction Perm

$ 1,490

16%

26%

537

7.94%

$323

33%

8.32%

Residential

Construction

1,799

452

2.30

456

8.50

Residential A&D

1,729

687

6.66

418

8.72

Residential Land

604

928

3.65

180

6.00

Commercial

Construction

2,248

3,269

0.48

0.96

Commercial A&D

589

843

1.09

0.68

Commercial Land

588

713

1.49

5.47

Total

$ 9,047

100%

26%

3.76%

$1,468

35%

5.77%

IV. RISK REVIEW

Construction

Credit Summary

IV. RISK REVIEW

•

Overall, credit performance weakened with deterioration evident in some asset quality measures

and products

•

Favorable movement in early stage delinquencies was evident, particularly across most consumer

and mortgage loan products

•

Residential Mortgages and HELOCs accounted for 54% of nonperforming loans; two-thirds of

residential mortgage nonperformers have been written down to their expected recoverable value

•

The Residential Mortgage portfolio has solid borrower credit characteristics as evidenced by good

current

FICO

scores,

but

30%

concentrated

Florida

which

drives

the

nonperforming

loans

•

The

HELOC

portfolio

has

stronger

borrower

credit

characteristics

with

weighted

average

FICOs

exceeding 740; however, HELOCs have a higher Florida concentration at 39% disproportionately

contributing to HELOC nonperforming loans

•

The

Construction

portfolio

declined

–

over

$800

million

–

2009,

and

down

34%

since

December 2007

Residential Construction credit performance remained weak

Commercial Construction performed well

•

The ALLL build to 2.21% of loans was driven by continued credit stress and the addition of

reserves for fraud-related loan losses

•

Credit losses are expected to increase in the second quarter given the classification change related

to fraud losses combined with continued deterioration in residential construction and cyclically

sensitive commercial exposures

Appendix

($ in millions)

Total

Noninterest

Income

$1,147

718

$1,058

60%

Securities

Gains/(Losses)

411

(60)

VISA

IPO

Gain

Lighthouse

Gain

Corporate

Real

Estate

Gain

Fair

Market

Write-downs

–

Trading

(32)

(41)

(282)

STI

Debt

Valuation

Write-up

–

Trading

113

(44)

240

Fair

Value

Write-downs

–

Mtg

Prod

(16)

(57)

(53)

SAB

109

–

Mtg

Prod

Fair

Value

Write-downs

–

Other

Income

(5)

ARS

Reserve

Trading

(1)

(5)

Litigation

Settlement

–

Other

Income

MSR

(Impairment)/Recovery

–

Mtg

Svcing

(370)

Gain

Debt

Extinguishment

–

Other

Income

Net

Adjustments

123

(86)

Adjusted

Noninterest

Income

$1,024

804

988

27%

Noninterest Income Reconciliation

V. APPENDIX

% %

Change

2009

2008

Noninterest Expense

$2,177 $1,586 $1,252

37% 74%

Net E

Nonrecurring

11 5

Goodwill Impairment

751 -

Debt Retirement -

Visa Litigation

(14) (39)

AHG Write-down

16 2

Tax Reserves Release -

(4)

Net Adjustments 751

13 (24)

Adjusted Noninterest Expense

$1,426 $1,573 $1,276

(9)% 12%

Change

1Q 2009 4Q 2008 1Q 2008

4Q 2008

1Q 2008

($ in millions)

Noninterest Expense Reconciliation

V. APPENDIX

Noninterest Income

OTTI-

Securities Gains/(Losses)

$ (0.7) $ (2.0) $(64.1) $

1.3 $63.4

Mortgage Repurchase Reserve (25.6) (60.2)

(10.8) 34.6 (14.8)

FV MSR Hedging –

Trading (19.2) -

(19.2) (19.2)

MSR FV Change –

Mtg

Svcing 19.2 -

19.2 19.2

Noninterest Expense

Operating Losses

22.6 236.1

30.3 (213.5) (7.7)

Mortgage Insurance Reserves 70.0 100.0

7.0 (30.0) 63.0

Credit & Collections 47.9

44.3 27.8 3.6

20.1

Other Real Estate

44.4 35.3

12.2 9.1 32.2

Total Credit-Related

$184.9 $415.7 $77.3 $(230.8) $107.6

Additional Disclosures

V. APPENDIX

Change

1Q 2009 4Q 2008 1Q 2008 4Q 2008

1Q 2008

($ in millions)

1Q 2009 operating losses includes a $165 million decrease in reserves for fraud losses and claim denials associated with mortgage

secured loans. 4Q 2008 included a $167 million increase and the

reserve was established at $40 million in 3Q 2008.

(As of 03/31/09, $ millions)

1. Reserves have been established for residential mortgage loans that have not had specific write-downs as well as for incremental losses on loans carried at expected recoverable values

2. Nonaccruals not requiring write-downs include well-secured loans and loans with claims in process for individual and pool PMI policies

3. Excludes Home Equity nonaccruals of $68.0 million, $68.3 million of C & I loans secured by residential real estate and $61.6 million of

mark-to-market loans held for sale

Nonaccruals that have been through the

specific write-down process

Loan

Type

Balance

before

write-

down

Amount

of write-

down

Non

accruals

with

write-down

Non

accruals

not

requiring

write-down

Non

accruals

without

specific

write-down

Total

Non

accruals

% Loss

Severity

Core

Portfolio

$739.8

$(207.1)

$532.7

$289.9

$470.5

$1,293.1

20.1%

Prime 2

217.4

(216.0)

1.4

126.4

127.8

Lot

Loans

239.8

(109.2)

130.6

54.6

66.4

251.6

37.1%

Alt-A 1

146.0

(40.1)

105.9

54.6

88.9

249.4

20.0%

Alt-A 2

107.7

(90.7)

17.0

39.8

56.8

84.2%

Total

$1,450.7

$(663.1)

$787.6

$525.5

$665.6

$1,978.9

Residential Mortgages

Nonaccrual Balances Were Up, But 66% of Nonaccruals are Carried At

Expected Recoverable Value

(1)

VI. APPENDIX

Non GAAP Reconciliations

VI. APPENDIX

March 31

December 31

September 30

March 31

2009

2008

Total shareholders' equity

$21,645,626

$22,500,805

$18,069,378

$18,548,603

Goodwill

(6,224,610)

(6,941,104)

(7,062,869)

(6,923,033)

Other intangible assets including MSRs

(1,049,155)

(978,211)

(1,328,055)

(1,379,522)

MSRs

894,797

810,474

1,150,013

1,143,405

Tangible equity

15,266,658

15,391,964

10,828,467

11,389,453

Preferred stock

(5,227,357)

(5,221,703)

(500,000)

Tangible common equity

$10,039,301

$10,170,261

$10,328,467

$10,889,453

Total assets

$179,116,402

$189,137,961

$174,776,760

$178,986,947

Goodwill

(6,309,431)

(7,043,503)

(7,062,869)

(6,923,033)

Other intangible assets including MSRs

(1,103,333)

(1,035,427)

(1,389,965)

(1,430,268)

MSRs

894,797

810,474

1,150,013

1,143,405

Tangible assets

$172,598,435

$181,869,505

$167,473,939

$171,777,051

Tangible equity to tangible assets

8.85

8.46

6.47

6.63

Tangible common equity to tangible assets

5.82

5.59

6.17

6.34

Three Months Ended

(Dollars in thousands)

VI. APPENDIX

Non GAAP Reconciliations

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

March 31

December 31

September 30

June 30

March 31

2009

2008

Total noninterest expense

$2,177,327

$1,586,153

$1,665,295

$1,375,342

$1,252,233

Goodwill/intangible impairment charges other than MSRs

751,156

45,000

Total noninterest expense excluding goodwill/intangible impairment charges other than MSRs

$1,426,171

$1,586,153

$1,665,295

$1,330,342

$1,252,233

Net income/(loss)

($815,167)

($347,587)

$312,444

$540,362

$290,555

Goodwill/intangible impairment charges other than MSRs, after tax

723,853

27,281

Net income/(loss) excluding goodwill/intangible

impairment charges other than MSRs, after tax

($91,314)

($347,587)

$312,444

$567,643

$290,555

Net income/(loss) available to common shareholders

($875,381)

($374,938)

$304,397

$529,968

$281,555

Goodwill/intangible impairment charges other than MSRs attributable to

common shareholders, after tax

714,824

27,006

Net income/(loss) available to common shareholders excluding goodwill/intangible

impairment charges other than MSRs, after tax

($160,557)

($374,938)

$304,397

$556,974

$281,555

Net income/(loss) per average common share, diluted

($2.49)

($1.07)

$0.87

$1.52

$0.81

Impact of excluding goodwill/intangible impairment charges other than MSRs attributable

to common shareholders, after tax

2.03

0.07

Net income/(loss) per average diluted common share, excluding goodwill/intangible

impairment charges other than MSRs, after tax

($0.46)

($1.07)

$0.87

$1.59

$0.81

Three Months Ended