PRESENTATION MATERIALS DATED JULY 22, 2009

SunTrust Banks, Inc.

2Q 2009 Earnings Presentation

July 22, 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 future levels of net interest margin, 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. Our forward looking statements speak as of the date

hereof, and we do not assume any obligation to update these statements or 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 Emergency Economic Stabilization Act of 2008 (“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

Second Quarter Highlights

•

Solid capital position further enhanced with completion of SCAP related capital actions;

estimated Tier 1 Common Ratio of 7.35% and Tier 1 Ratio of 12.25%

•

EPS loss of $0.41 for the quarter reflects challenging economic and credit environment

•

Consumer

and

Commercial

deposit

growth

continued;

another

record

level

$114

billion

quarter end

•

Overall revenue remains cyclically soft. Second quarter results include increased margin and

capital markets revenue, along with another strong quarter for mortgage-related revenue

•

Expenses

were

well

managed;

however,

economically

cyclical

FDIC,

pension

and

credit

expenses continued to impact results

•

Asset quality deteriorated in the quarter with higher credit losses and non-performing loans,

while early stage delinquencies declined

•

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

management

successfully

emerge

from

this

recession

strong

and

well

positioned

deliver

superior shareholder returns

I. HIGHLIGHTS

SCAP Related Capital Actions Exceeded Goals

SCAP Tier 1 Common Target

“At the Market”

Offering

Marketed Offering

Greenshoe

Visa Share Sale

Cash

Tender

Deferred Tax Asset

Total

Complete

Increase

2Q 2009 Capital Actions

II. CAPITAL

$2,160

258

1,358

204

212

190

$2,292

106.1%

17.7

108.0

16.2

141.9

39.8%

Complete

($ and shares in millions)

Tier 1 Common

Common

Action

Impact

Shares Status

Capital impact including fees, charges and taxes

Percent share count increase versus 3/31/09 shares outstanding of 356.7 million

TARP preferred included in Tier 1 ratio contributes an estimated 3.12% to the 6/30/09 Tier 1 capital ratio, 3.00% at 3/31/09 and 2.91% as of

12/31/08

5.83%

10.87%

7.96%

14.04%

$48.74

$28.69

Solid Capital Ratios Further Enhanced by SCAP Related Capital Actions

Tier 1 Common Ratio

Tier 1 Capital Ratio

Tier

Ratio

(Excl

TARP)

Total Capital Ratio

Book Value per Share

Tangible

Common

Book

Value

per

Capital Ratios

2Q 2009

1Q 2009

4Q 2008

Estimate Actual Actual

II. CAPITAL

5.83%

11.02%

8.02%

14.15%

$46.03

$28.15

7.35%

12.25%

9.13%

15.30%

$36.16

$23.41

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

SCAP Proforma 2010 Capital Meets Well Capitalized Thresholds Even After Repayment of TARP and

Assuming Realization of Full $11.8 Billion SCAP Two Year Losses

Capital

Under

SCAP

“More

Adverse”

Scenario

II. CAPITAL

SCAP resources of $4.7 billion less 1H09 SCAP target of approximately $1.2 billion = $3.5 billion before tax and $2.2 billion after tax

Impact of SCAP losses of $11.8 billion less $1.4 billion in actual 1H09 net charge-offs = $10.4 billion before tax and $6.5 billion after tax

Assumes $132.5 million for the second half of 2009 with a repayment occurring at the end of 2009 for illustrative purposes

Capital ratios calculated using 2Q 2009 estimated RWA of $152 billion

$11.8 SCAP

Losses

Less

$1.4 Actual

1H09

NCOs

Adjusted For

Taxes

$4.7 Total

SCAP

Resources

Less

$1.2 1H09

SCAP

Resources

Adjusted for

Taxes

($ in billions)

Tier 1 Common

Tier 1

$4.9

$6.5

$2.2

$0.1

12.3%

7.4%

6.1%

4.5%

4Q 2010 Well

Capitalized

6.0%

4.0%

$10

$15

$20

$25

2Q09

2H09 + 2010

SCAP

Resources

SCAP

Losses

Preferred

Dividend

TARP

Preferred

4Q10

Capital

2Q 2009 Loss of $0.41 Per Share and YTD Loss of $0.86 Per Share Excluding 1Q 2009 Goodwill Charge

($ in millions, except per share data)

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 Income

Provision/(Benefit) for Income Taxes

Preferred Dividends

Gain on Redemption of Preferred Stock

Net Loss to Common Shareholders

Net

Loss

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 % Change % Change

2Q 2009

1Q 2009 2Q 2008 YTD 2009 YTD 2008

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

$1,121.1

962.2

1,071.7

2,192.8

1,528.0

(332.4)

(149.0)

72.2

89.4

(164.4)

(0.41)

$(0.41)

(3)%

(4)% (24)%

(1)%

(29)%

66%

81%

(2)%

83%

11%

(5)%

115%

(16)%

$2,214.1

1,956.3

4,407.0

(1,298.3)

(299.7)

143.5

89.4

(1,039.8)

(325.0)

(2.77)

$(0.86)

(6)%

94%

(9)%

11%

2,928.8

40%

3,680.0

2,192.9

(11)%

($ 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

2Q 2009

1Q 2009

2Q 2008

Annualized

% Change

III. FINANCIAL PERFORMANCE

Excludes $5.5 billion of nonaccrual and restructured loans

Attractive Deposit Growth Continued; Loans Declined Slightly

$38,599

15,809

6,449

29,388

15,775

5,127

6,499

978

$118,624

$24,574

22,768

31,251

3,662

17,367

13,905

113,527

6,608

$120,135

(2)%

(1)%

(13)%

(1)%

(2)%

(11)%

(6)%

(2)%

(50)%

11%

(3)%

(8)%

(6)%

29%

26%

25%

14%

22%

(44)%

18%

(44)%

14%

17%

(13)%

20%

(3)%

20%

(7)%

17%

12%

(56)%

(2)%

(7)%

(8)%

31%

15%

Core Consumer and Commercial Deposits Increased to a Record $114 Billion with Favorable Mix Trends

+6.7%

$3.4

$3.5

$3.7

$28.3

$30.1

$32.0

$24.4

$20.9

$24.9

$20.8

$23.2

$21.8

$17.1

$17.3

$13.0

$13.7

$13.3

Dec 2008

March 2009

June 2009

MMA

DDA

NOW

CD <$100

CD >$100

Savings

+5.4%

flat

+4.8%

+16.7%

+6.4%

Dec –

March

Growth

+5.0%

Consumer and Commercial Deposit Trends

III. FINANCIAL PERFORMANCE

$103.8

$110.8

$114.2

($ in billions)

Dec –

June

Growth

+8.8%

+2.3%

(1.2)%

+11.5%

+19.1%

+13.1%

+10.0%

Reflects average balances for the month

3.13%

3.07%

3.14%

2.87%

2.94%

2Q 2008

3Q 2008

4Q 2008

1Q 2009

2Q 2009

Margin of 2.94% Expanded 7 bps from 1Q 2009

•

2Q margin expansion driven primarily

by improved deposit pricing and

funding mix, with increased core

deposits and decreased broker

deposits and long-term debt

•

Focus on deposit and loan pricing

benefited margin and offset continuing

compression associated with rising

NPA’s and sluggish loan demand

•

Based on current assumptions, margin

expected to be relatively stable for the

remainder of the year with some

additional expansion possible

Net Interest Margin

III. FINANCIAL PERFORMANCE

($ in millions)

Provision

Expense

Declined

the

Expected

Increase

Charge-Offs

Was

Than

Offset

Moderation in the Pace of Reserve Growth

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% 1.86%

Includes borrower misrepresentation related charge-offs, previously recorded in operating losses prior to 2009, of $116.2 million in 2Q 2009 and

$17.0 million in 1Q 2009.

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

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

$962.2

$801.2

2.59%

$161.0

2.37%

1.54%

1.46%

(24)%

(3)%

Noninterest Income

Net Adjustments

Adjusted Noninterest Income

($ in millions)

Lower Core Noninterest Income; Strong Core Investment Banking and Trading Revenues Offset by

Lower Mortgage Production Margins and FV MSR Hedging Results

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

2. Please

refer

the

appendix

this

presentation

for

reconcilement

the

most

directly

comparable

GAAP

financial

measure

Noninterest Income

III. FINANCIAL PERFORMANCE

% Change

2Q 2009 1Q 2009 2Q 2008 1Q 2009 2Q 2008

$1,072

145

$927

$1,023

458

$955

(5)%

(10)%

$1,121

$1,413

11%

$83

(1)

$134

Expense Results

Noninterest Expense

Net Adjustment

Adjusted Noninterest Expense

Expense Driver Analysis

Total Adjusted Incr/(Decr)

Credit Related Costs

FDIC (Excl Special Assessment)

Pension

FICA/401K (seasonal)

Subtotal of Expense Drivers

Controllable Expenses Well Managed; Economically Cyclical Credit, FDIC, and Pension

Costs up From 2Q 2008

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

($ in millions)

Noninterest Expense

III. FINANCIAL PERFORMANCE

Change

$1,528

124

$1,404

174

$2,152

726

$1,426

185

$1,375

$1,321

128

(29)%

(2)%

$(22)

(11)

(8)

(25)

$(21)

2Q 2009

1Q 2009

2Q 2008

1Q 2009

2Q 2008

SCAP –

Loan Losses

7.8%

8.3%

8.5%

8.6%

8.8%

9.0%

9.1%

10.0%

10.5%

10.9%

11.7%

COF

FITB

BAC

JPM

PNC

WFC

BBT

KEY

STI

USB

SCAP

Loan

Losses

(%)

–

“More

Adverse”

Scenario

SCAP Conclusions Endorsed SunTrust’s Relative Credit Strength

IV. RISK REVIEW

11.7%

7.8%

37.9%

18.2%

13.9%

5.5%

11.0%

4.5%

19.9%

6.3%

3.4%

11.9%

13.7%

5.2%

17.4%

8.3%

8.2%

10.6%

Source: Federal Reserve

Note: Financial data as of December 31, 2008

1. Includes BAC, BBT, C, COF, FITB, JPM, KEY, PNC, RF, USB and WFC

2. Includes losses on other consumer and non-consumer loans

CRE

First Lien Mortgages

Second/Junior Lien Mortgages

C&I

Credit Card Loans

Total Loans

Peer range¹

Loan Type

SCAP-

Conservative Underwriting

SCAP Cumulative Estimated Losses for 2009 and 2010 for “More Adverse Scenario”

IV. RISK REVIEW

Over Half of Charge-Off Increase Driven By Borrower Misrepresentation Classification Change;

Early Stage Delinquencies Declined and ALLL Increased to 2.37%

Asset Quality Metrics

IV. RISK REVIEW

($ in millions)

2Q 2009

1Q 2009

4Q 2008

2Q09 vs 1Q09

Total Loans at End of Period

$122,816.2

$123,893.0

$126,998.4

$(1,076.8)

$(3,105.4)

Allowance for Loans & Lease Losses

2,896.0

2,735.0

2,351.0

161.0

384.0

Net Charge-offs

801.2

610.1

552.5

191.1

57.6

Borrower Misprepresentations

116.2

17.0

99.2

17.0

Net Charge-offs Excluding

Borrower Misrepresentations

685.0

593.1

552.5

91.9

40.6

Provision Expense

962.2

994.1

962.5

(31.9)

31.6

NPAs

6,165.0

5,246.4

4,456.4

918.6

790.0

NPLs to Total Loans

4.48%

3.75%

3.10%

0.73%

0.65%

NPAs to Total Loans + OREO/OA

4.99%

4.21%

3.49%

0.78%

0.72%

ALLL to Loans

2.37%

2.21%

1.86%

0.16%

0.35%

NCOs (annualized to Average Loans)

2.59%

1.97%

1.72%

0.62%

0.25%

30-89 Days Past Due

1.54%

1.76%

1.81%

(0.22)%

(0.05)%

1Q09 vs 4Q08

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

Loan Portfolio

IV. RISK REVIEW

Consumer Real Estate-Driven Charge-Offs Increased; Significant and Broad-Based Decrease in Early

Stage Delinquencies

1. Consumer -

Direct includes approximately $3 billion of federally guaranteed student loans

2. The increase in charge-offs is largely due to a $99.2 million increase in borrower misrepresentation charge-offs which were classified as operating

losses prior to 2009

(2)

Balance

% of

Balance

% of

C/O Ratio

30-89 DLQ%

($ in millions)

06/30/2009

Portfolio

03/31/2009

Portfolio

2Q09

1Q09

2Q09

1Q09

Commercial

$37,961

31%

$38,616

31%

1.53%

1.35%

0.27%

0.37%

Commercial Real Estate

15,859

13%

15,094

12%

0.07%

0.05%

0.85%

0.72%

Consumer -

Direct

(1)

5,121

5,173

0.91%

0.54%

4.25%

5.25%

Consumer -

Indirect

6,406

6,351

1.24%

2.00%

1.66%

1.84%

Credit Cards

1,006

976

9.03%

6.94%

3.72%

3.25%

Real Estate Home Equity Lines

16,298

13%

16,455

13%

4.79%

4.00%

1.38%

1.44%

Real Estate 1-4 Family

31,989

26%

32,181

27%

4.06%

2.28%

2.50%

2.79%

Real Estate Construction

8,176

9,047

4.20%

3.76%

3.36%

4.24%

Total

$122,816

100%

$123,893

100%

2.59%

1.97%

1.54%

1.76%

1. Excludes $72.4 million of C & I loans secured by residential real estate and $64.9 million of mark-to-market loans held for sale

2. Does not include nonaccruals

Residential Mortgages $31,989 million

Portfolio Profile

Credit Quality Metrics

Loan Type

6/30/09

Balance

3/31/09

Balance

6/30/2009

$ Nonaccruals

3/31/2009

$ Nonaccruals

6/30/09

60+ DLQ

3/31/09

60+ DLQ

Core Portfolio

$24,608

$23,906

$1,620

$1,293

2.18%

2.43%

Home Equity Loans

2,088

2,333

0.81

0.98

Prime 2

3,210

3,509

120

128

2.58

3.06

Lot Loans

1,157

1,329

280

252

5.33

5.30

Alt-A 1

694

819

259

250

7.84

8.02

Alt-A 2

232

285

8.76

8.60

Total

$31,989

$32,181

$2,392

$2,048

2.49%

2.71%

Residential Mortgages

IV. RISK REVIEW

Delinquencies Declined Meaningfully, While Nonaccrual Balances Trended Higher

($ in millions)

Home Equity Lines $16,298 million

1. Excludes

3 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

6/30/09

Balance

% of

Total

3/31/09

Balance

2Q 09

Charge-off

1Q 09

Charge-off

2Q 09

Nonaccrual

1Q 09

Nonaccrual

Party

Originated

$1,703

11%

$1,782

13.75%

14.08%

4.41%

4.63%

CLTV > 80%

(Florida)

1,892

1,940

10.32

8.33

3.68

3.88

CLTV > 90%

1,644

1,695

4.54

4.00

1.84

1.71

All Other

11,059

11,038

2.35

1.78

1.20

1.21

Total

$16,298

100%

$16,455

4. 79%

4.00%

1.91%

1.96%

Home Equity Lines

IV. RISK REVIEW

Two Highest Risk Segments Comprise 23% of Portfolio, but Drove 55% of 2Q Losses; Two-Thirds of the

Portfolio Exhibited Higher Losses but Stable Nonaccrual Levels

($ in millions)

1. Annualized second quarter net charge-off ratio

($ in millions)

Balances Declined $871 Million, or Nearly 10%, to Less Than 7% of Total Loans;

Construction-to-Perm is Stabilizing, Commercial is Solid and Residential is Weak

Construction $8,176 million

15%

Portfolio

5.77%

5.47

0.68

0.96

6.00

8.72

8.50

8.32%

1Q 09

30 +

DLQ

Portfolio Profile

Credit Quality Metrics

Type

6/30/09

Balance

2Q 09

C/O

NPLs

2Q 09

30 +

DLQ

Construction Perm

$1,250

26%

6.87%

$321

33%

5.57%

Residential

Construction

1,588

6.77

446

7.91

Residential A&D

1,587

5.70

496

7.73

Residential Land

589

5.27

222

2.79

Commercial

Construction

2,087

0.21

0.74

Commercial A&D

525

0.43

1.00

Commercial Land

550

0.99

7.76

Total

$8,176

100%

26%

4.20%

$1,613

40%

4.87%

IV. RISK REVIEW

Construction

ALLL Coverage of NPLs Increases to Nearly 100% When Adjusted for NPLs Previously Written

Down and Impaired Loans That Have Specific Reserve Allocations

Allowance to Non-Performing Loan Review

IV. RISK REVIEW

Loans to large corporate clients. Relatively few, but larger credits make FAS 114 reserves and implied severities volatile. Specific credits included in the reserve at this

time primarily are in cyclical industries and loss severities are being influenced upward by expected debt for equity swap workouts

Loans to mid-sized businesses and real estate developers; typically secured by collateral

IMPAIRED LOANS WITH SPECIFIC RESERVES

2Q 2009 ($ in Millions)

2Q 09

Cumulative

Implied

Balance

FAS114 Reserve

Charge-Offs

Severity

Commercial and Investment Banking

$208

$85

$113

62%

Commercial

932

190

25%

Wealth and Investment Management

32%

TOTAL FAS 114 Portfolio

$1,185

$288

$167

34%

ALLL / NPL Coverage Ratio

22%

99%

23%

54%

Base ALLL/NPL

Coverage

Resi Mtg NPLs at

Expected

Recoverable Value

Impaired Loans With

Specific Reserves

Adjusted ALLL/NPL

Coverage

The Construction portfolio declined nearly 10% – $871 million – in 2Q 2009 and is down 41% since

December 2007

Credit Summary

IV. RISK REVIEW

•

Overall, credit performance weakened with deterioration most evident in residential real estate-

related charge-offs and NPL formation

•

quarter decline in early stage delinquencies was significant and broad based, particularly in

consumer and mortgage loan products

•

Allowance for loan losses increased to 2.37% of loans

•

Residential Mortgage delinquencies declined meaningfully, while nonaccrual balances trended

higher

•

The two highest risk segments of HELOCs comprise 23% of portfolio but drove 55% of 2Q losses;

two-thirds of the portfolio exhibited higher losses but stable nonaccrual levels

•

Residential Construction credit performance remained weak

Commercial Construction performed well; NPL increase largely driven by two borrowers

•

ALLL

coverage

NPLs

nearly

100%

adjusted

for

two-thirds

Residential

Mortgage

NPLs

written

down to expected recoverable value and specific (FAS114) reserves

•

Credit losses are expected to increase in the third quarter given continued weakness in residential

real estate-related and cyclically sensitive commercial exposures

•

Delinquency trends, particularly in consumer, are encouraging relative to potential loss rates in 4Q

and beyond

Appendix

($ in millions)

Total Noninterest Income

Securities Gains/(Losses)

VISA Gain

First Mercantile Gain

Fair

Market

Write-downs

–

Trading

STI

Debt

Valuation-Trading

Coke

Derivative

Costs

–

Trading

Fair

Value

Write-downs

–

Mortgage

Prod

Fair

Value

Write-downs

–

Other

Income

ARS

Reserve

Trading

MSR

(Impairment)/Recovery

–

Mtg

Svcing 157

Net Adjustments

Adjusted Noninterest Income

Noninterest Income Reconciliation

V. APPENDIX

% %

Change Change

2Q 2009 1Q 2009 2Q 2008

2009

2008

$1,072

(25)

112

(1)

(96)

(4)

145

$927

$1,121

(32)

113

(16)

(1)

$1,023

$1,413

550

(2)

(103)

(12)

(5)

458

$955

(5)%

(10)%

(24)%

(3)%

Total Noninterest Expense

Net

Nonrecurring

Goodwill Impairment

SEIX Impairment

Visa Litigation Accrual

Net Loss/(Gain) on Debt Extinguishment

FDIC Special Assessment

Net Adjustments

Net Total

Change

2Q 2009 1Q 2009 2Q 2008

1Q 2009

2Q 2008

($ in millions)

Noninterest Expense Reconciliation

V. APPENDIX

$1,528

124

$1,404

$2,152

751

(25)

726

$1,426

$1,375

$1,321

(29)%

(2)%

11%

Noninterest

Income

Mortgage Repurchase Reserve

FV MSR Hedging-Trading

FV MSR Hedging-Mortgage Servicing

Noninterest

Expense

Twin Rivers

Operating Losses

Credit & Collections

Other Real Estate

Total Credit-Related

Additional Noninterest Income and Expense Disclosures

V. APPENDIX

Change

2Q 2009 1Q 2009 2Q 2008 1Q 2009

2Q 2008

($ in millions)

$(62.0)

(4.6)

4.6

25.6

32.6

66.3

49.0

$173.5

$(25.6)

(19.2)

19.2

22.6

47.9

44.4

$184.9

$(13.0)

44.7

33.7

24.9

$128.3

$36.4

14.6

(14.6)

(44.4)

10.0

18.4

4.6

$(11.4)

$49.0

(4.6)

4.6

0.6

(12.1)

32.6

24.1

$45.2

70.0

25.0

2Q 2009 Liability Management Results

V. APPENDIX

($ in Millions)

$375

314

750

3,500

$4,320

$110

212

(3)

$214

$(56)

(3)

(42)

(4)

$(39)

Principal Amount

Retired

Cash

Tendered

Tier 1

Common

Pre-Tax Income

Statement Impact

pre-tax

loss

$56

million

reflected

for

the

PPS

transaction

the

net

impact

the

gross

gain

debt

extinguishment of $113 million, less transaction related costs, and a loss of $165 million recorded to

reflect the extinguishment of the forward sale agreement embedded within the existing PPS security. The

$165 million is directly recorded in additional paid in capital offsetting the after-tax loss recorded in

retained earnings and resulting in net additional Tier 1 common of $110 million

A gain on the Series A preferred securities is not included in net income but is included in income

available to common shareholders, EPS, and total equity

Security

PPS

SunTrust Capital VIII

Series

Preferred

Sub-Total Cash Tender

FHLB Advances

Bank Note

Total

$262

220

525

3,500

$4,087

(As of 06/30/09, $ in 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 $62.0 million, $72.4 million of C & I loans secured by residential real estate and $64.9 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 accruals not

write-down

Non

requiring

write-down

Non

accruals

without

specific

write-down

Total

Non

accruals

% Loss

Severity

Core

Portfolio

$1,037.4

$(302.9)

$734.5

$333.5

$551.8

$1,619.8

22.5%

Prime 2

283.3

(283.3)

0.0

120.4

Lot

Loans

305.8

(150.1)

155.7

58.9

65.5

280.1

41.2%

Alt-A 1

163.1

(47.1)

116.0

60.9

81.8

258.7

21.0%

Alt-A 2

114.5

(99.5)

15.0

35.6

50.6

86.9%

Total

$1,904.1

$(882.9)

$1,021.2

$573.8

$734.7

$2,329.7

Residential Mortgages

V. APPENDIX

Nonaccrual Balances Increased, But 68% of Nonaccruals are Carried At Expected Recoverable Value

Additional Income Statement Detail

V. APPENDIX

($ in thousands)

June 30

March 31

2009

NET INCOME/(LOSS)

($183,460)

($815,167)

Preferred dividends, Series A

(5,635)

(5,000)

U.S. Treasury preferred dividends

(66,546)

(66,279)

Dividends and undistributed earnings allocated to unvested shares

1,788

11,065

Gain on purchase of Series A preferred stock

89,425

NET INCOME/(LOSS) AVAILABLE TO COMMON SHAREHOLDERS

($164,428)

($875,381)

Three Months Ended

V. APPENDIX

($ in thousands, except per share data)

Reconciliation of Non GAAP Measures

June 30

March 31

December 31

September 30

June 30

2009

2008

2009

2008

Total shareholders' equity

$22,953,158

$21,645,626

$22,500,805

$18,069,378

$18,023,095

Goodwill

(6,213,243)

(6,224,610)

(6,941,104)

(7,062,869)

(7,056,015)

Other intangible assets including MSRs

(1,468,209)

(1,049,155)

(978,211)

(1,328,055)

(1,394,941)

MSRs

1,322,322

894,797

810,474

1,150,013

1,193,450

Tangible equity

16,594,028

15,266,658

15,391,964

10,828,467

10,765,589

Preferred stock

(4,918,863)

(5,227,357)

(5,221,703)

(500,000)

Tangible common equity

$11,675,165

$10,039,301

$10,170,261

$10,328,467

$10,265,589

Total assets

$176,734,971

$179,116,402

$189,137,961

$174,776,760

$177,232,727

Goodwill

(6,314,382)

(6,309,431)

(7,043,503)

(7,062,869)

(7,056,015)

Other intangible assets including MSRs

(1,517,483)

(1,103,333)

(1,035,427)

(1,389,965)

(1,442,056)

MSRs

1,322,322

894,797

810,474

1,150,013

1,193,450

Tangible assets

$170,225,428

$172,598,435

$181,869,505

$167,473,939

$169,928,106

Tangible equity to tangible assets

9.75

8.85

8.46

6.47

6.34

Tangible book value per common share

$23.41

$28.15

$28.69

$29.18

$29.04

Net interest income

$1,089,657

$1,062,098

$1,176,860

$1,146,213

$1,156,716

$2,151,755

$2,296,583

Taxable-equivalent adjustment

31,428

30,859

31,790

29,466

28,256

62,287

56,231

Net interest income -

FTE

1,121,085

1,092,957

1,208,650

1,175,679

1,184,972

2,214,042

2,352,814

Noninterest income

1,071,675

1,121,238

717,729

1,285,222

1,413,010

2,192,913

2,470,512

Total revenue -

FTE

2,192,760

2,214,195

1,926,379

2,460,901

2,597,982

4,406,955

4,823,326

Securities (gains)/losses,

net

24,899

(3,377)

(411,053)

(173,046)

(549,787)

21,522

(489,201)

Total revenue -

FTE excluding net securities (gains)/losses

$2,217,659

$2,210,818

$1,515,326

$2,287,855

$2,048,195

$4,428,477

$4,334,125

Three Months Ended

Six Months Ended

1. SunTrust presents noninterest expense, net income/(loss), net income/(loss) available to common shareholders, and net income/(loss) per average common diluted share that excludes the

portion of the impairment charges on goodwill and intangible assets other than MSRs allocated to the common shareholders. The Company believes this measure is useful to investors,

because removing the non-cash impairment charges provides a more representative view of normalized operations and the measure also allows better comparability with peers in the industry

who also provide a similar presentation when applicable. In addition, management uses this measure internally to analyze performance

V. APPENDIX

Reconciliation of Non GAAP Measures

($ in thousands, except per share data)

June 30

March 31

December 31

September 30

June 30

2009

2008

2009

2008

Total noninterest expense

$1,527,972

$2,152,023

$1,586,153

$1,665,295

$1,375,342

$3,679,995

$2,627,575

Goodwill/intangible impairment charges other than MSRs

751,156

45,000

751,156

45,000

Total noninterest expense excluding goodwill/intangible impairment charges other than MSRs¹

$1,527,972

$1,400,867

$1,586,153

$1,665,295

$1,330,342

$2,928,839

$2,582,575

Net income/(loss)

($183,460)

($815,167)

($347,587)

$312,444

$540,362

($998,627)

$830,917

Goodwill/intangible impairment charges other than MSRs, after tax

723,853

27,281

723,853

27,281

Net income/(loss) excluding goodwill/intangible

impairment

charges

other

than

MSRs,

after

tax¹

($183,460)

($91,314)

($347,587)

$312,444

$567,643

($274,774)

$858,198

Net income/(loss) available to common shareholders

($164,428)

($875,381)

($374,938)

$304,397

$529,968

($1,039,809)

$811,523

common shareholders, after tax

714,824

27,006

714,824

27,006

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

impairment

charges

other

than

MSRs,

after

tax¹

($164,428)

($160,557)

($374,938)

$304,397

$556,974

($324,985)

$838,529

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

($0.41)

($2.49)

($1.07)

$0.87

$1.52

($2.77)

$2.33

to common shareholders, after tax

2.03

0.07

1.91

0.07

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

impairment

charges

other

than

MSRs,

after

tax¹

($0.41)

($0.46)

($1.07)

$0.87

$1.59

($0.86)

$2.40

Three Months Ended

Six Months Ended

Goodwill/intangible impairment charges other than MSRs attributable to

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