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) April 21, 2010

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.

On April 21, 2010, SunTrust Banks, Inc. (the “Registrant”) announced financial results for the period ended March 31, 2010. A copy of the news release announcing the Registrant’s results for the period ended March 31, 2010 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 period ended March 31, 2010 on April 21, 2010, at 8:00 a.m. Eastern time. Additional presentation materials relating to such call are furnished hereto as Exhibit 99.2 and are incorporated herein by reference.

The foregoing 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 into another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K. 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 April 21, 2010 (furnished with the Commission as a part of this Form 8-K).

99.2 Presentation materials dated April 21, 2010 (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: April 21, 2010	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	Mike McCoy
(404) 827-6714	(404) 588-7230

For Immediate Release

April 21, 2010

SUNTRUST REPORTS FIRST QUARTER RESULTS

Economic Conditions Impact Financial Results; Company Notes Improved Asset Quality and Operating Trends

ATLANTA — SunTrust Banks, Inc. (NYSE: STI) today reported a net loss available to common shareholders for the first quarter of 2010 of $229 million, or $0.46 per average common share, as the lingering effects of the recession impacted results. This compares to a net loss available to common shareholders of $875 million, or $2.49 per average common share in the first quarter of 2009, and a net loss per average common share of $0.64 for the fourth quarter of 2009.

The first quarter of 2009 net loss included a non-cash charge of $715 million, or $2.03 per average common share, related to the impairment of goodwill. Excluding the goodwill charge, the net loss per average common share in the first quarter of 2009 was $0.46, equal to the first quarter of 2010.

“We are increasingly encouraged by current operating trends and our outlook for the future,” said James M. Wells III, Chairman and Chief Executive Officer of SunTrust Banks, Inc. While the outlook for economic recovery remains uncertain, Mr. Wells noted that the quarter’s results were most positively affected by improved asset quality which resulted in a significant decrease in credit-related costs, including provision for credit losses.

“Our client-focused strategies, expense management discipline and lower cost deposit mix are yielding results,” he added. “We believe that as the economy continues to gain traction, our strong capital position will enable SunTrust to operate from a position of strength, capitalize on opportunities in the markets and businesses in which we compete, and drive improved shareholder value.”

First Quarter 2010 Consolidated Highlights

	1st Quarter 2010			1st Quarter 2009			% Change
Income Statement
(Dollars in millions, except per share data)
Net income/(loss)	$	(161	)	$	(815	)	80.3	%
Net income/(loss) available to common shareholders		(229	)		(875	)	73.8
Net income/(loss) available to common shareholders, excluding goodwill impairment		(229	)		(160	)	(42.7	)
Net income/(loss) per average common share		(0.46	)		(2.49	)	81.5
Net income/(loss) per average common share, excluding goodwill impairment		(0.46	)		(0.46	)	-
Total revenue – fully taxable-equivalent		1,900			2,214		(14.2	)
Net interest income – fully taxable equivalent		1,202			1,093		10.0
Provision for credit losses		862			994		(13.3	)
Noninterest income		698			1,121		(37.7	)
Noninterest expense		1,361			2,152		(36.8	)
Noninterest expense, excluding goodwill impairment		1,361			1,401		(2.9	)
Net interest margin – fully taxable equivalent		3.32	%		2.87	%
Balance Sheet
(Dollars in billions)
Average loans	$	114.4		$	125.3		(8.7	)%
Average consumer and commercial deposits		115.1			107.5		7.0
Capital
Tier 1 capital ratio (1)		13.05	%		11.02	%
Tier 1 common equity ratio (1)		7.65	%		5.83	%
Total average shareholders’ equity to total average assets		13.03	%		12.51	%
Asset Quality
Net charge-offs to average loans (annualized)		2.91	%		1.97	%
Allowance for loan losses to period end loans		2.80	%		2.21	%
Nonperforming loans to total loans		4.55	%		3.75	%

⁽¹⁾ Current period Tier 1 capital and Tier 1 common equity ratios are estimated as of the earnings release date

• The net loss of $0.46 per share improved as compared to earnings per share losses recorded in the first quarter of 2009 and the fourth quarter of 2009.

• Results continue to reflect challenging economic conditions and elevated, but abating, credit costs.

• Total revenues remained soft due primarily to lower mortgage production volume and income and mark-to-market losses on the Company’s fair value public debt versus gains in the first quarter of 2009.

• Net interest income increased 10% as a 45 basis point increase in the net interest margin more than offset a decline in earning assets.

• Provision for credit losses declined compared to the prior year and sequential quarter as credit quality has improved and additions to the allowance for loan losses have declined.

• Expenses remained well controlled, declining compared to last year and last quarter.

• Average loans declined due to lower client demand and runoff in higher risk construction and residential mortgage portfolios.

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• Deposits increased as significant growth in lower cost deposits was partially offset by a decline in higher cost time deposits, which lowered our overall funding cost and contributed to expanded net interest margin.

• Capital levels remained strong with estimated Tier 1 common equity at 7.65% and estimated Tier 1 capital at 13.05%, compared to 7.67% and 12.96%, respectively, as of year end.

• Overall, asset quality has improved notably. Provision expense has declined, and early stage delinquencies have declined from 1.76% in the first quarter of 2009 to 1.19% in the first quarter of 2010. The net charge-off and non-performing loan ratios remain elevated as we continue to resolve residential real estate-related risk.

CONSOLIDATED FINANCIAL PERFORMANCE

Revenue

Fully taxable-equivalent revenue, excluding securities gains and losses, declined 14.2% compared to the first quarter of 2009; however, on a sequential quarter basis it increased slightly due to higher noninterest income. The year-over-year decrease was due to a 37.7% decrease in noninterest income, partially offset by a 10.0% increase in net interest income. Noninterest income in the current quarter was adversely impacted by lower mortgage production and higher mortgage repurchase charges compared to the first quarter of 2009. The current quarter also included $20 million of mark-to-market losses on the Company’s debt and related hedges carried at fair value, while the first quarter of 2009 reflected $113 million in mark-to-market gains.

Net Interest Income

Fully taxable-equivalent net interest income was $1,202 million in the first quarter of 2010, an increase of 10.0% over the first quarter of 2009 and essentially flat compared to the sequential quarter despite two fewer days in the current quarter. Average earning assets were relatively flat compared to the sequential quarter partially as a result of the addition of approximately $1.6 billion of average assets from previously unconsolidated entities in connection with our adoption of recently issued accounting standards. Average earning assets declined $7.5 billion, or 4.9%, compared to the first quarter of 2009 due to a decline in average loans (including loans held for sale) and trading assets, partially offset by an increase in average securities available for sale.

Net interest margin for the first quarter of 2010 was 3.32%, a 45 basis point increase from the first quarter of 2009 and a 5 basis point increase from the fourth quarter of 2009. The increase in net interest margin was primarily driven by the decline in our funding costs. Significantly higher low cost deposits and lower wholesale funding contributed to the 75 basis point year-over-year decline in the cost of average interest-bearing liabilities. Loan yields have remained relatively stable over the past five quarters benefiting from receive fixed/pay floating interest swaps on commercial loans.

Noninterest Income

Total noninterest income was $698 million for the first quarter of 2010, down $423 million, or 37.7%, from the first quarter of 2009 and down $44 million, or 5.9%, on a sequential quarter basis. The decline in year-over-year noninterest income was driven primarily by mortgage production income and trading account profits and commissions. The fourth quarter of 2009 also included $73 million in net gains realized from the sale of securities related to the repositioning of the investment portfolio.

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Mortgage production income declined $281 million in the first quarter of 2010 compared to the first quarter of 2009. Current quarter results included $128 million of estimated mortgage repurchase losses compared to $26 million in the first quarter of 2009. Mortgage repurchase reserves remained relatively stable at $210 million as of March 31, 2010, up $10 million from year end, due to a leveling off of investor repurchase demands. Estimated repurchase losses during the fourth quarter of 2009 were $220 million. Mortgage production income was also affected by lower loan applications and originations, which declined approximately 60% compared to the first quarter of 2009.

Mortgage servicing income declined $13 million from the first quarter of 2009, as $17 million in higher servicing fees in the current quarter were offset by $31 million of impairment recovery recognized in the first quarter of 2009. Mortgage servicing income increased $24 million, or 51.0%, compared to the fourth quarter of 2009 due primarily to improved performance of the hedge on mortgage servicing rights. As of March 31, 2010, SunTrust serviced $178.0 billion in mortgage loans, up 7.0%, from the first quarter of 2009.

Trading account profits and commissions declined $115 million compared to the first quarter of 2009. However, during the current quarter, the Company recorded $20 million of mark-to-market valuation losses on its public debt and related hedges carried at fair value compared to $113 million of valuation gains in the first quarter of 2009 and $38 million of valuation losses in the fourth quarter of 2009. This quarter’s trading income also included $16 million in valuation losses related to the deterioration of collateral on previously securitized loans, net of valuation gains on illiquid securities, and certain trading assets, compared to a net mark-to-market loss of $34 million in the first quarter of 2009. Capital markets-related trading income and investment banking fees declined slightly compared to the first quarter of 2009 due to lower equity and fixed income derivatives revenue and reduced deal flow, while the sequential quarter improved modestly primarily due to improved fixed income sales and derivatives revenue.

Other fee based revenue from both consumer and commercial clients was mixed across the various income categories but generally flat in total relative to the first quarter of 2009. Fee based income declined on a sequential basis due to lower NSF and client analysis fees and seasonal declines in other revenue categories.

Noninterest Expense

Total noninterest expense in the first quarter of 2010 was $1,361 million, down $791 million, or 36.8%, from the first quarter of 2009. Excluding the $751 million goodwill impairment charge recorded in the first quarter of 2009, noninterest expense declined $40 million, or 2.7%, driven by lower credit-related and personnel expenses, partially offset by lower gains on the extinguishment of debt. Credit-related costs, including other real estate owned, credit and collections, operating losses, and mortgage reinsurance, declined $45 million, or 23.8%. The decline in mortgage reinsurance expense was partially offset by increased credit and collections expense due to losses from advances on delinquent loans serviced for others. Personnel expenses declined $44 million, or 6.0%, compared to the first quarter of 2009 due to lower pension expense from higher discount rates and improved performance in the underlying retirement plan assets. Incentive compensation declined in conjunction with the soft revenue generation. FDIC insurance and regulatory expense increased $17 million, or 35.5%, over the first quarter of 2009 in conjunction with higher average deposits and increased premiums associated with the replenishment of the FDIC deposit insurance fund.

On a sequential quarter basis, noninterest expense was down $93 million, or 6.4%. The decline was driven by a $31 million decline in credit-related expenses, specifically operating losses and other real estate owned losses, a $14 million decline in marketing expenses due to the timing of various marketing campaigns, and a $9 million gain from the extinguishment of debt during the current quarter compared to a $24 million net loss in the fourth quarter of 2009.

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Income Taxes

For the first quarter of 2010, the Company recognized a benefit for income taxes of $194 million, which compares to a $151 million benefit recorded in the first quarter of 2009. The tax benefit was due to the recognition of a pre-tax loss, as well as other permanent tax items such as tax exempt interest and federal tax credits. The first quarter of 2009 effective tax rate was significantly impacted by the $677 million non-deductible portion of the goodwill impairment. The impact of the recently enacted Patient Protection and Affordable Care Act did not have a significant impact on the Company’s provision for income taxes.

U.S. Treasury Preferred Dividends

The Company recorded $66 million in preferred dividends in each of the current and prior year quarters related to the $4.85 billion in preferred securities issued to the U.S. Treasury under the Capital Purchase Program. The 5.5% effective yield reflects the 5.0% dividend rate and the amortization of the discount recorded on the preferred stock at issuance.

Balance Sheet

As of March 31, 2010, total assets were $171.8 billion, which included $1.5 billion of loans related to the consolidation of our asset-backed commercial paper conduit and $323 million of loans held for sale related to the consolidation of a collateralized loan obligation vehicle as a result of recently issued accounting standards. Shareholders’ equity of $22.6 billion as of March 31, 2010 represented 13.2% of total assets. Book value and tangible book value per common share were $35.40 and $22.76, respectively, as of March 31, 2010.

Loans

Average loans for the first quarter of 2010 totaled $114.4 billion, down $10.9 billion, or 8.7%, from the first quarter of 2009. Average real estate construction and residential mortgage loans declined $6.3 billion, or 16.8%, as the Company continued its efforts to reduce its exposure to residential real estate. Commercial loans declined $6.1 billion, or 15.6%, due to weak client demand resulting in lower utilization of lines of credit. Average loans were essentially flat compared to the sequential quarter; however, the first quarter average includes approximately $1.4 billion of loans as a result of the consolidation of previously off-balance sheet loans. As of March 31, 2010, total loans were $114.0 billion, up $305 million from year end.

Deposits

Average consumer and commercial deposits for the first quarter of 2010 were $115.1 billion, up $7.6 billion, or 7.0%, from the first quarter of 2009. Deposit growth was concentrated in lower cost deposits, including NOW accounts, money market accounts, and demand deposits, which increased on average $13.0 billion, or 17.7%, while higher cost time deposits declined $5.8 billion, or 19.0%. Growth in consumer and commercial deposits has enabled a further decline in average brokered and foreign deposits, which declined by $4.0 billion year-over-year, or 53.7%, as well as non-deposit interest-bearing funding, which declined $10.3 billion, or 29.5%. As anticipated, average consumer and commercial deposits declined slightly on a sequential quarter basis due largely to a decline in higher cost time deposits and, in part, due to seasonal declines in certain commercial client accounts. As of March 31, 2010, total consumer and commercial deposits were $116.1 billion, down $160 million from year end.

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Capital and Liquidity

The estimated Tier 1 common equity, Tier 1 capital, and tangible equity to tangible asset ratios at March 31, 2010, were 7.65%, 13.05%, and 9.86%, down two basis points, up nine basis points, and up twenty basis points, respectively, compared to December 31, 2009. Despite the challenging economic environment, the Company’s capital position remains strong. The Company also has substantial available liquidity as the inflows of high quality deposits have largely been retained in cash and invested in high quality government-backed securities.

Asset Quality

During the current quarter, overall asset quality improved notably. Early stage delinquencies, nonperforming loans, and net charge-offs remain elevated but improved sequentially, and in some cases, significantly. Nonetheless, the economic outlook remains uncertain, resulting in the allowance for credit losses remaining relatively stable for the time being. As of March 31, 2010, the allowance for loan losses was $3,176 million, an increase of $56 million from year end, and it represented 2.80% of total loans compared to 2.76% and 2.21% of total loans as December 31, 2009 and March 31, 2009, respectively. The unfunded commitment reserve ended the current quarter at $100 million, down $15 million from year end due to a reduction in exposure related to certain commercial and large corporate clients.

For the first quarter of 2010, the provision for credit losses was $862 million. The provision for credit losses in the current quarter was $132 million lower than the first quarter of 2009 and $112 million lower than the fourth quarter of 2009, continuing the trend of declining provision over the last year.

Net charge-offs in the first quarter of 2010 were $821 million, approximately equal to the amount in the fourth quarter of 2009 and $211 million higher than the first quarter of 2009. Charge-offs in the current quarter include $51 million of incremental charge-offs associated with the transfer of $211 million of nonperforming residential mortgage loans to loans held for sale. The Company is in the process of actively marketing these loans and intends to sell the loans during the second quarter. Also, during the current quarter, incremental charge-offs of $131 million were recorded on severely delinquent residential mortgage loans with collateral located in jurisdictions in which we are experiencing extended foreclosure periods, primarily Florida. The losses on these severely delinquent loans arose from declines in collateral value while the loans were in foreclosure. These estimated declines in value are captured in our estimated allowance for loan losses. Historically, our process was to record the additional charge-off when the foreclosure process was completed; however, due to the protracted amount of time loans are remaining in the foreclosure process, we concluded that it was appropriate to record an additional charge-off after twelve months had lapsed from the initial charge-off, generally at 180 days past due. These combined actions increased charge-offs $182 million and reduced nonperforming loans by $341 million. Annualized net charge-offs to average loans for the current quarter was 2.91% (including 0.65% related to the $182 million of charge-offs discussed above) compared to 2.83% in the sequential quarter and 1.97% in the first quarter of 2009. The sequential quarter increase in residential mortgage net charge-offs of $84 million was due to the items discussed above. The $88 million decrease in construction net charge-offs was due to the extended foreclosure process in Florida and the uneven nature over which construction net charge-offs generally occur.

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Nonaccrual loans were $5,185 million, or 4.55% of total loans, as of March 31, 2010, compared to $5,402 million, or 4.75% of total loans, as of December 31, 2009, and $4,641 million, or 3.75% of total loans, as of March 31, 2009. In the current quarter, higher nonaccrual construction loans were offset by reductions in nonaccrual commercial loans and residential mortgage loans, including the $341 million reduction discussed above. As of March 31, 2010, the allowance to nonperforming loans was 61.7%, up 2.9% from year end and 1.4% from a year ago. Early stage delinquencies as of the end of the first quarter were 1.19% of total loans, a decline of 18 basis points compared to year end driven primarily by declines in consumer loans. Late stage delinquencies were relatively flat compared to year end.

The Company continues to proactively modify loans to borrowers experiencing financial difficulties in an effort to mitigate losses. Accordingly, accruing restructured loans increased 16.2% during the current quarter to $1.9 billion.

Line of Business Results

The Company has provided line of business financial tables on its website at www.suntrust.com in the Investor Relations section located under “About SunTrust.” The Company has four lines of business used to measure business activities: Retail and Commercial, Corporate and Investment Banking, Household Lending, and Wealth and Investment Management with the remainder in Corporate Other and Treasury. The Company has announced certain organizational changes effective in the second quarter of 2010 that will result in changes to its reported lines of business. All revenue in the line of business tables 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 credit losses is represented by net charge-offs. SunTrust also reports results for Corporate Other and Treasury, which includes the Treasury department as well as the residual expenses 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 for credit losses compared to net charge-offs, as well as equity and its related impact. A detailed discussion of the line of business results will be included in the Company’s forthcoming report on Form 10-Q.

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 report on Form 10-Q. Detailed financial tables and other information are also available on the Company’s 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 furnished with the Securities and Exchange Commission today.

This news release contains certain non-U.S. GAAP financial measures to describe the Company’s performance. The reconciliation of those measures to the most directly comparable U.S. 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 April 21, 2010, at 8:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Individuals may call in beginning at 7:45 a.m. (Eastern Time) by dialing 1-888-972-7805 (Passcode: 1Q10). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 1Q10). A replay of the call will be available approximately one hour after the call ends on April 21, 2010, and will remain available until May 5, 2010, by dialing 1-800-308-7853 (domestic) or 1-402-220-3838 (international).

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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, “1st Quarter Earnings Release.” Beginning the afternoon of April 21, 2010, 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 clients in selected markets nationally. Its primary businesses include deposit, credit, and trust and investment management services. Through various subsidiaries, the Company provides mortgage banking, insurance, brokerage, equipment leasing, and capital markets services. SunTrust’s Internet address is www.suntrust.com.

Important Cautionary Statement About Forward-Looking Statements

This news release includes non-GAAP financial measures to describe SunTrust’s performance. The reconciliations of those measures to GAAP measures are provided within or in the appendix to this news release. In this news release, the Company presents net interest income and net interest margin on a fully taxable-equivalent (“FTE”) basis, and ratios 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 news release may contain forward-looking statements. Statements regarding future levels of net interest margin, future levels of charge-offs generally and in the construction, residential mortgage, and residential builder portfolios, future income from service charges, and future performance of the commercial real estate portfolio are forward-looking statements. Also, any statement that does not describe historical or current facts, 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.” Forward-looking 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 in Item 1A of Part I of our 10-K and in other periodic reports that we file with the SEC. Those factors include: difficult market conditions have adversely affected our industry; recent levels of market volatility are unprecedented; we are subject to capital adequacy guidelines and, if we fail to meet these guidelines, our financial condition would be adversely affected; recently enacted legislation, or legislation enacted in the future, or any proposed federal programs subject us to increased regulation and may adversely affect us; we have not yet received permission to repay TARP funds; emergency measures designed to stabilize the U.S. banking system are beginning to wind down; we are subject to 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 and warranties, borrower fraud, or certain borrower defaults, which could harm our liquidity, results of operations, and financial condition; we may continue to suffer increased losses in our loan portfolio despite enhancement of our underwriting policies; depressed

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market values for our stock may require us to write down goodwill; 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 business and revenues; we rely on other companies to provide key components of our business infrastructure; the soundness of other financial institutions could adversely affect us; 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; we are subject to certain litigation, and our expenses related to this litigation may adversely affect our results; regulation by federal and state agencies could adversely affect the 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 your 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 real estate, increases in unemployment, and the related effects on local economies 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; our allowance for loan losses may not be adequate to cover our eventual losses; we will realize future losses if the proceeds we receive upon liquidation of nonperforming assets are less than the carrying value of such assets; disruptions in our ability to access global capital markets may negatively affect our capital resources and liquidity; in 2009 and 2010, credit rating agencies downgraded the credit ratings of SunTrust Bank and SunTrust Banks, Inc., and these downgrades and any subsequent downgrades could adversely impact the price and liquidity of our securities and could have an impact on our businesses and results of operations; 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, and 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 require management 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; and we may enter into transactions with off-balance sheet affiliates or our subsidiaries.

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SunTrust Banks, Inc. and Subsidiaries

FINANCIAL HIGHLIGHTS

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

	Three Months Ended March 31				%
	2010		2009		Change 4
EARNINGS & DIVIDENDS
Net loss	($161	)	($815	)	80	%
Net loss available to common shareholders	(229	)	(875	)	74
Net loss available to common shareholders excluding goodwill/intangible impairment charges other than MSRs 1	(229	)	(160	)	(43	)
Total revenue - FTE 2	1,900		2,214		(14	)
Total revenue - FTE excluding securities (gains)/losses, net 1	1,898		2,211		(14	)
Net loss per average common share
Diluted	(0.46	)	(2.49	)	82
Diluted excluding goodwill/intangible impairment charges other than MSRs 1	(0.46	)	(0.46	)	-
Basic	(0.46	)	(2.49	)	82
Dividends paid per common share	0.01		0.10		(90	)
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets	$171,429		$178,871		(4	)    %
Earning assets	146,896		154,390		(5	)
Loans	114,435		125,333		(9	)
Consumer and commercial deposits	115,084		107,515		7
Brokered and foreign deposits	3,433		7,417		(54	)
Total shareholders’ equity	22,338		22,368		-
As of
Total assets	171,796		179,116		(4	)
Earning assets	147,056		153,290		(4	)
Loans	113,979		123,893		(8	)
Allowance for loan and lease losses	3,176		2,735		16
Consumer and commercial deposits	116,144		112,449		3
Brokered and foreign deposits	2,606		6,523		(60	)
Total shareholders’ equity	22,620		21,646		4
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	(0.38	)    %	(1.85	)    %	79	%
Return on average assets less net unrealized securities gains 1	(0.42	)	(1.89	)	78
Return on average common shareholders’ equity	(5.34	)	(20.71	)	74
Return on average realized common shareholders’ equity 1	(5.93	)	(22.08	)	73
Net interest margin 2	3.32		2.87		16
Efficiency ratio 2	71.60		97.19		(26	)
Tangible efficiency ratio 1	70.91		62.55		13
Effective tax rate/(benefit)	(54.70	)	(15.61	)	NM
Tier 1 common equity	7.65	3	5.83		31
Tier 1 capital	13.05	3	11.02		18
Total capital	16.60	3	14.15		17
Tier 1 leverage	10.95	3	10.14		8
Total average shareholders’ equity to total average assets	13.03		12.51		4
Tangible equity to tangible assets 1	9.86		8.85		11
Book value per common share	$35.40		$46.03		(23	)
Tangible book value per common share 1	22.76		28.15		(19	)
Market price:
High	28.39		30.18		(6	)
Low	20.16		6.00		NM
Close	26.79		11.74		NM
Market capitalization	13,391		4,188		NM
Average common shares outstanding (000s)
Diluted 5	494,871		351,352		41
Basic	494,871		351,352		41
Full-time equivalent employees	28,263		29,279		(3	)
Number of ATMs	2,828		2,673		6
Full service banking offices	1,678		1,694		(1	)

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

²Total 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.

³Current period tier 1 common equity, 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.

⁵For earnings per share calculation purposes, the impact of dilutive securities are excluded from the diluted share count during periods that the Company has recognized a net loss available to common shareholders because the impact would be antidilutive.

Page 1

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER FINANCIAL HIGHLIGHTS

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

	Three Months Ended
	March 31   2010		December 31   2009		September 30   2009		June 30   2009		March 31   2009
EARNINGS & DIVIDENDS
Net loss	($161)		($248)		($317)		($183)		($815)
Net loss available to common shareholders	(229)		(316)		(377)		(164)		(875)
Net loss available to common shareholders excluding goodwill/intangible impairment charges other than MSRs 1	(229)		(316)		(377)		(164)		(160)
Total revenue - FTE 2	1,900		1,949		1,943		2,193		2,214
Total revenue - FTE excluding securities (gains)/losses, net 1	1,898		1,876		1,896		2,218		2,211
Net loss per average common share
Diluted	(0.46)		(0.64)		(0.76)		(0.41)		(2.49)
Diluted excluding goodwill/intangible impairment charges other than MSRs 1	(0.46)		(0.64)		(0.76)		(0.41)		(0.46)
Basic	(0.46)		(0.64)		(0.76)		(0.41)		(2.49)
Dividends paid per common share	0.01		0.01		0.01		0.10		0.10
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets	$171,429		$174,041		$172,463		$176,480		$178,871
Earning assets	146,896		146,587		149,579		153,177		154,390
Loans	114,435		115,036		119,796		124,123		125,333
Consumer and commercial deposits	115,084		117,008		114,486		113,528		107,515
Brokered and foreign deposits	3,433		5,145		5,193		6,608		7,417
Total shareholders’ equity	22,338		22,381		22,468		21,926		22,368
As of
Total assets	171,796		174,165		172,718		176,735		179,116
Earning assets	147,056		147,896		145,554		154,345		153,290
Loans	113,979		113,675		116,488		122,816		123,893
Allowance for loan and lease losses	3,176		3,120		3,024		2,896		2,735
Consumer and commercial deposits	116,144		116,303		113,601		113,746		112,449
Brokered and foreign deposits	2,606		5,560		5,730		5,055		6,523
Total shareholders’ equity	22,620		22,531		22,908		22,953		21,646
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	(0.38)	%	(0.57)	%	(0.73)	%	(0.42)	%	(1.85)	%
Return on average assets less net unrealized securities gains 1	(0.42)		(0.70)		(0.83)		(0.41)		(1.89)
Return on average common shareholders’ equity	(5.34)		(7.19)		(8.52)		(3.95)		(20.71)
Return on average realized common shareholders’ equity 1	(5.93)		(8.81)		(9.70)		(4.02)		(22.08)
Net interest margin 2	3.32		3.27		3.10		2.94		2.87
Efficiency ratio 2	71.60		74.58		73.53		69.68		97.19
Tangible efficiency ratio 1	70.91		73.96		72.82		69.05		62.55
Effective tax rate/(benefit)	(54.70)		(51.46)		(51.46)		(44.81)		(15.61)
Tier 1 common equity	7.65	3	7.67		7.49		7.34		5.83
Tier 1 capital	13.05	3	12.96		12.58		12.23		11.02
Total capital	16.60	3	16.43		15.92		15.31		14.15
Tier 1 leverage	10.95	3	10.90		11.08		11.02		10.14
Total average shareholders’ equity to total average assets	13.03		12.86		13.03		12.42		12.51
Tangible equity to tangible assets 1	9.86		9.66		9.96		9.75		8.85
Book value per common share	$35.40		$35.29		$36.06		$36.16		$46.03
Tangible book value per common share 1	22.76		22.59		23.35		23.41		28.15
Market price:
High	28.39		24.09		24.43		20.86		30.18
Low	20.16		18.45		14.50		10.50		6.00
Close	26.79		20.29		22.55		16.45		11.74
Market capitalization	13,391		10,128		11,256		8,205		4,188
Average common shares outstanding (000s)
Diluted 4	494,871		494,332		494,169		399,242		351,352
Basic	494,871		494,332		494,169		399,242		351,352
Full-time equivalent employees	28,263		28,001		28,015		28,520		29,279
Number of ATMs	2,828		2,822		2,807		2,695		2,673
Full service banking offices	1,678		1,683		1,690		1,692		1,694

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

²Total 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.

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

⁴For earnings per share calculation purposes, the impact of dilutive securities are excluded from the diluted share count during periods that the Company has recognized a net loss available to common shareholders because the impact would be antidilutive.

Page 2

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME/(LOSS)

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

	Three Months Ended
	March 31		Increase/(Decrease)  2
	2010	2009	Amount	%
Interest income	$1,573,686	$1,729,335	($155,649)	(9)   %
Interest expense	402,249	667,237	(264,988)	(40)
NET INTEREST INCOME	1,171,437	1,062,098	109,339	10
Provision for credit losses	861,609	994,098	(132,489)	(13)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	309,828	68,000	241,828	NM
NONINTEREST INCOME
Service charges on deposit accounts	195,902	206,394	(10,492)	(5)
Trust and investment management income	122,087	116,010	6,077	5
Retail investment services	46,740	56,713	(9,973)	(18)
Other charges and fees	129,100	124,321	4,779	4
Investment banking income	55,916	59,534	(3,618)	(6)
Trading account profits/(losses) and commissions	(7,268)	107,293	(114,561)	NM
Card fees	86,934	75,660	11,274	15
Mortgage production related income/(loss)	(30,929)	250,470	(281,399)	NM
Mortgage servicing related income/(loss)	70,504	83,352	(12,848)	(15)
Other noninterest income	27,631	38,114	(10,483)	(28)
Securities gains/(losses), net	1,543	3,377	(1,834)	(54)
Total noninterest income	698,160	1,121,238	(423,078)	(38)
NONINTEREST EXPENSE
Employee compensation and benefits	691,793	736,052	(44,259)	(6)
Net occupancy expense	91,141	87,417	3,724	4
Outside processing and software	148,703	138,361	10,342	7
Equipment expense	40,513	43,540	(3,027)	(7)
Marketing and customer development	34,127	34,725	(598)	(2)
Amortization/impairment of goodwill/intangible assets	13,187	767,016	(753,829)	(98)
Net loss/(gain) on extinguishment of debt	(9,307)	(25,304)	15,997	63
Operating losses	13,797	22,621	(8,824)	(39)
Mortgage reinsurance	9,400	70,039	(60,639)	(87)
FDIC premium/regulatory exams	64,335	47,473	16,862	36
Other noninterest expense	262,854	230,083	32,771	14
Total noninterest expense	1,360,543	2,152,023	(791,480)	(37)
LOSS BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES	(352,555)	(962,785)	610,230	63
Provision/(benefit) for income taxes	(194,162)	(150,777)	(43,385)	(29)
LOSS INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	(158,393)	(812,008)	653,615	80
Net income attributable to noncontrolling interest	2,421	3,159	(738)	(23)
NET LOSS	($160,814)	($815,167)	$654,353	80
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS	($229,184)	($875,381)	$646,197	74
Net interest income - FTE1	$1,201,938	$1,092,957	$108,981	10
Net loss per average common share
Diluted	(0.46)	(2.49)	2.03	82
Basic	(0.46)	(2.49)	2.03	82
Cash dividends paid per common share	0.01	0.10	(0.09)	(90)
Average common shares outstanding (000s)
Diluted 3	494,871	351,352	143,519	41
Basic	494,871	351,352	143,519	41

¹Net 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.

³For earnings per share calculation purposes, the impact of dilutive securities are excluded from the diluted share count during periods that the Company has recognized a net loss available to common shareholders because the impact would be antidilutive.

Page 3

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER CONSOLIDATED STATEMENTS OF INCOME/(LOSS)

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

	Three Months Ended				Three Months Ended
	March 31 2010	December 31 2009	Increase/(Decrease)  2		September 30 2009	June 30 2009	March 31 2009
			Amount	%
Interest income	$1,573,686	$1,629,616	($55,930)	(3)   %	$1,657,522	$1,693,274	$1,729,335
Interest expense	402,249	453,139	(50,890)	(11)	520,064	603,617	667,237
NET INTEREST INCOME	1,171,437	1,176,477	(5,040)	-	1,137,458	1,089,657	1,062,098
Provision for credit losses	861,609	973,706	(112,097)	(12)	1,133,929	962,181	994,098
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	309,828	202,771	107,057	53	3,529	127,476	68,000
NONINTEREST INCOME
Service charges on deposit accounts	195,902	212,665	(16,763)	(8)	219,071	210,224	206,394
Trust and investment management income	122,087	134,632	(12,545)	(9)	118,874	117,007	116,010
Retail investment services	46,740	54,329	(7,589)	(14)	51,361	55,400	56,713
Other charges and fees	129,100	137,196	(8,096)	(6)	133,433	127,799	124,321
Investment banking income	55,916	60,084	(4,168)	(7)	75,343	77,038	59,534
Trading account profits/(losses) and commissions	(7,268)	(31,145)	23,877	77	(86,866)	(30,020)	107,293
Card fees	86,934	85,307	1,627	2	82,370	80,505	75,660
Mortgage production related income/(loss)	(30,929)	(67,904)	36,975	54	28,143	165,388	250,470
Mortgage servicing related income/(loss)	70,504	46,705	23,799	51	60,193	139,658	83,352
Gain from ownership in Visa	-	-	-	-	-	112,102	-
Other noninterest income	27,631	37,596	(9,965)	(27)	46,437	41,473	38,114
Securities gains/(losses), net	1,543	72,849	(71,306)	(98)	46,692	(24,899)	3,377
Total noninterest income	698,160	742,314	(44,154)	(6)	775,051	1,071,675	1,121,238
NONINTEREST EXPENSE
Employee compensation and benefits	691,793	694,124	(2,331)	-	666,037	703,709	736,052
Net occupancy expense	91,141	91,709	(568)	(1)	90,445	87,220	87,417
Outside processing and software	148,703	148,707	(4)	-	146,850	145,359	138,361
Equipment expense	40,513	42,939	(2,426)	(6)	41,616	43,792	43,540
Marketing and customer development	34,127	48,392	(14,265)	(29)	38,157	30,264	34,725
Amortization/impairment of goodwill/intangible assets	13,187	12,122	1,065	9	13,741	13,955	767,016
Net loss/(gain) on extinguishment of debt	(9,307)	23,520	(32,827)	(140)	2,276	38,864	(25,304)
Visa litigation	-	-	-	-	-	7,000	-
Operating losses	13,797	25,911	(12,114)	(47)	18,425	32,570	22,621
Mortgage reinsurance	9,400	10,285	(885)	(9)	10,000	24,581	70,039
FDIC premium/regulatory exams	64,335	60,526	3,809	6	45,473	148,675	47,473
Other noninterest expense	262,854	295,331	(32,477)	(11)	355,827	251,983	230,083
Total noninterest expense	1,360,543	1,453,566	(93,023)	(6)	1,428,847	1,527,972	2,152,023
LOSS BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES	(352,555)	(508,481)	155,926	31	(650,267)	(328,821)	(962,785)
Provision/(benefit) for income taxes	(194,162)	(262,993)	68,831	26	(336,056)	(148,957)	(150,777)
LOSS INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	(158,393)	(245,488)	87,095	35	(314,211)	(179,864)	(812,008)
Net income attributable to noncontrolling interest	2,421	2,627	(206)	(8)	2,730	3,596	3,159
NET LOSS	($160,814)	($248,115)	$87,301	35	($316,941)	($183,460)	($815,167)
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS	($229,184)	($316,424)	$87,240	28	($377,144)	($164,428)	($875,381)
Net interest income - FTE 1	$1,201,938	$1,206,763	($4,825)	-	$1,168,174	$1,121,085	$1,092,957
Net loss per average common share
Diluted	(0.46)	(0.64)	0.18	28	(0.76)	(0.41)	(2.49)
Basic	(0.46)	(0.64)	0.18	28	(0.76)	(0.41)	(2.49)
Cash dividends paid per common share	0.01	0.01	-	-	0.01	0.10	0.10
Average common shares outstanding (000s)
Diluted 3	494,871	494,332	539	-	494,169	399,242	351,352
Basic	494,871	494,332	539	-	494,169	399,242	351,352

¹Net 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.

³For earnings per share calculation purposes, the impact of dilutive securities are excluded from the diluted share count during periods that the Company has recognized a net loss available to common shareholders because the impact would be antidilutive.

Page 4

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands) (Unaudited)

	As of March 31		Increase/(Decrease)  3
	2010	2009	Amount	%
ASSETS
Cash and due from banks	$4,671,345	$5,825,730	($1,154,385)	(20)   %
Interest-bearing deposits in other banks	24,665	25,282	(617)	(2)
Funds sold and securities purchased under agreements to resell	1,613,663	1,209,987	403,676	33
Trading assets	6,038,104	7,397,338	(1,359,234)	(18)
Securities available for sale 1	26,238,529	19,485,406	6,753,123	35
Loans held for sale	3,696,990	6,954,038	(3,257,048)	(47)
Loans:
Commercial	33,393,502	38,616,338	(5,222,836)	(14)
Real estate:
Home equity lines	15,676,336	16,455,007	(778,671)	(5)
Construction	5,756,240	9,046,475	(3,290,235)	(36)
Residential mortgages	30,804,683	32,180,888	(1,376,205)	(4)
Commercial real estate:
Owner occupied	8,926,891	8,858,393	68,498	1
Investor owned	6,335,013	6,235,754	99,259	2
Consumer:
Direct	5,368,458	5,173,380	195,078	4
Indirect	6,678,269	6,351,255	327,014	5
Credit card	1,040,056	975,476	64,580	7
Total loans	113,979,448	123,892,966	(9,913,518)	(8)
Allowance for loan and lease losses	(3,176,000)	(2,735,000)	441,000	16
Net loans	110,803,448	121,157,966	(10,354,518)	(9)
Goodwill	6,322,878	6,309,431	13,447	-
Other intangible assets	1,799,919	1,103,333	696,586	63
Other real estate owned	627,639	593,579	34,060	6
Other assets	9,959,075	9,054,312	904,763	10
Total assets 2	$171,796,255	$179,116,402	($7,320,147)	(4)
LIABILITIES
Noninterest-bearing consumer and commercial deposits	$25,148,837	$24,371,518	$777,319	3    %
Interest-bearing consumer and commercial deposits:
NOW accounts	25,657,386	22,420,789	3,236,597	14
Money market accounts	36,872,574	30,350,351	6,522,223	21
Savings	4,027,338	3,598,754	428,584	12
Consumer time	14,546,781	17,555,203	(3,008,422)	(17)
Other time	9,890,733	14,152,098	(4,261,365)	(30)
Total consumer and commercial deposits	116,143,649	112,448,713	3,694,936	3
Brokered deposits	2,350,846	6,373,500	(4,022,654)	(63)
Foreign deposits	254,941	149,962	104,979	70
Total deposits	118,749,436	118,972,175	(222,739)	-
Funds purchased	1,158,713	1,567,406	(408,693)	(26)
Securities sold under agreements to repurchase	2,794,195	3,165,644	(371,449)	(12)
Other short-term borrowings	2,387,640	2,883,384	(495,744)	(17)
Long-term debt	16,531,380	23,029,842	(6,498,462)	(28)
Trading liabilities	3,246,890	3,050,628	196,262	6
Other liabilities	4,308,075	4,801,697	(493,622)	(10)
Total liabilities	149,176,329	157,470,776	(8,294,447)	(5)
SHAREHOLDERS’ EQUITY
Preferred stock, no par value	4,923,292	5,227,357	(304,065)	(6)
Common stock, $1.00 par value	514,667	372,799	141,868	38
Additional paid in capital	8,446,209	6,713,536	1,732,673	26
Retained earnings	8,419,219	9,466,914	(1,047,695)	(11)
Treasury stock, at cost, and other	(989,840)	(1,168,995)	(179,155)	(15)
Accumulated other comprehensive income	1,306,379	1,034,015	272,364	26
Total shareholders’ equity	22,619,926	21,645,626	974,300	5
Total liabilities and shareholders’ equity	$171,796,255	$179,116,402	($7,320,147)	(4)
Common shares outstanding	499,857,812	356,693,099	143,164,713	40
Common shares authorized	750,000,000	750,000,000	-	-
Preferred shares outstanding	50,225	53,500	(3,275)	(6)
Preferred shares authorized	50,000,000	50,000,000	-	-
Treasury shares of common stock	14,808,783	16,106,270	(1,297,487)	(8)
1Includes net unrealized gains of	$1,904,276	$1,492,517	$411,759	28    %
2Includes earning assets of	147,056,130	153,289,712	(6,233,582)	(4)
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					As of
	March 31 2010	December 31 2009	Increase/(Decrease) 3			September 30 2009	June 30 2009	March 31 2009
			Amount	%
ASSETS
Cash and due from banks	$4,671,345	$6,456,406	($1,785,061)	(28)	%	$4,303,550	$2,434,859	$5,825,730
Interest-bearing deposits in other banks	24,665	24,109	556	2		25,098	24,310	25,282
Funds sold and securities purchased under agreements to resell	1,613,663	516,656	1,097,007	NM		829,089	798,515	1,209,987
Trading assets	6,038,104	4,979,938	1,058,166	21		6,673,623	7,739,197	7,397,338
Securities available for sale 1	26,238,529	28,477,042	(2,238,513)	(8)		22,122,850	19,465,291	19,485,406
Loans held for sale	3,696,990	4,669,823	(972,833)	(21)		4,577,549	8,031,114	6,954,038
Loans:
Commercial	33,393,502	32,494,067	899,435	3		33,491,704	37,960,878	38,616,338
Real estate:
Home equity lines	15,676,336	15,952,546	(276,210)	(2)		16,120,532	16,298,228	16,455,007
Construction	5,756,240	6,646,831	(890,591)	(13)		7,379,580	8,175,803	9,046,475
Residential mortgages	30,804,683	30,789,759	14,924	-		31,623,160	31,988,995	32,180,888
Commercial real estate:
Owner occupied	8,926,891	8,915,447	11,444	-		9,062,920	9,349,847	8,858,393
Investor owned	6,335,013	6,159,006	176,007	3		6,230,803	6,509,267	6,235,754
Consumer:
Direct	5,368,458	5,117,765	250,693	5		5,058,593	5,121,230	5,173,380
Indirect	6,678,269	6,531,134	147,135	2		6,564,095	6,406,383	6,351,255
Credit card	1,040,056	1,068,289	(28,233)	(3)		956,551	1,005,545	975,476
Total loans	113,979,448	113,674,844	304,604	-		116,487,938	122,816,176	123,892,966
Allowance for loan and lease losses	(3,176,000)	(3,120,000)	56,000	2		(3,024,000)	(2,896,000)	(2,735,000)
Net loans	110,803,448	110,554,844	248,604	-		113,463,938	119,920,176	121,157,966
Goodwill	6,322,878	6,319,078	3,800	-		6,314,382	6,314,382	6,309,431
Other intangible assets	1,799,919	1,711,299	88,620	5		1,604,136	1,517,483	1,103,333
Other real estate owned	627,639	619,621	8,018	1		571,553	588,922	593,579
Other assets	9,959,075	9,835,919	123,156	1		12,231,979	9,900,722	9,054,312
Total assets 2	$171,796,255	$174,164,735	($2,368,480)	(1)		$172,717,747	$176,734,971	$179,116,402
LIABILITIES
Noninterest-bearing consumer and commercial deposits	$25,148,837	$24,244,041	$904,796	4	%	$23,590,252	$24,610,303	$24,371,518
Interest-bearing consumer and commercial deposits:
NOW accounts	25,657,386	27,204,796	(1,547,410)	(6)		24,483,369	23,293,865	22,420,789
Money market accounts	36,872,574	35,212,841	1,659,733	5		32,741,496	31,986,840	30,350,351
Savings	4,027,338	3,752,824	274,514	7		3,850,617	3,663,261	3,598,754
Consumer time	14,546,781	14,778,577	(231,796)	(2)		16,317,023	17,007,704	17,555,203
Other time	9,890,733	11,110,373	(1,219,640)	(11)		12,618,485	13,184,374	14,152,098
Total consumer and commercial deposits	116,143,649	116,303,452	(159,803)	-		113,601,242	113,746,347	112,448,713
Brokered deposits	2,350,846	4,231,530	(1,880,684)	(44)		4,953,103	4,519,752	6,373,500
Foreign deposits	254,941	1,328,584	(1,073,643)	(81)		776,697	535,372	149,962
Total deposits	118,749,436	121,863,566	(3,114,130)	(3)		119,331,042	118,801,471	118,972,175
Funds purchased	1,158,713	1,432,581	(273,868)	(19)		1,037,562	3,920,127	1,567,406
Securities sold under agreements to repurchase	2,794,195	1,870,510	923,685	49		2,186,204	2,393,434	3,165,644
Other short-term borrowings	2,387,640	2,062,277	325,363	16		1,692,889	1,761,711	2,883,384
Long-term debt	16,531,380	17,489,516	(958,136)	(5)		18,177,280	18,842,460	23,029,842
Trading liabilities	3,246,890	2,188,923	1,057,967	48		2,531,114	2,348,851	3,050,628
Other liabilities	4,308,075	4,726,507	(418,432)	(9)		4,853,372	5,713,759	4,801,697
Total liabilities	149,176,329	151,633,880	(2,457,551)	(2)		149,809,463	153,781,813	157,470,776
SHAREHOLDERS’ EQUITY
Preferred stock, no par value	4,923,292	4,917,312	5,980	-		4,911,416	4,918,863	5,227,357
Common stock, $1.00 par value	514,667	514,667	-	-		514,667	514,667	372,799
Additional paid in capital	8,446,209	8,521,042	(74,833)	(1)		8,520,533	8,540,036	6,713,536
Retained earnings	8,419,219	8,562,807	(143,588)	(2)		8,886,150	9,271,388	9,466,914
Treasury stock, at cost, and other	(989,840)	(1,055,136)	(65,296)	(6)		(1,076,633)	(1,115,782)	(1,168,995)
Accumulated other comprehensive income	1,306,379	1,070,163	236,216	22		1,152,151	823,986	1,034,015
Total shareholders’ equity	22,619,926	22,530,855	89,071	-		22,908,284	22,953,158	21,645,626
Total liabilities and shareholders’ equity	$171,796,255	$174,164,735	($2,368,480)	(1)		$172,717,747	$176,734,971	$179,116,402
Common shares outstanding	499,857,812	499,156,858	700,954	-		499,146,588	498,786,047	356,693,099
Common shares authorized	750,000,000	750,000,000	-	-		750,000,000	750,000,000	750,000,000
Preferred shares outstanding	50,225	50,225	-	-		50,225	50,358	53,500
Preferred shares authorized	50,000,000	50,000,000	-	-		50,000,000	50,000,000	50,000,000
Treasury shares of common stock	14,808,783	15,509,737	(700,954)	(5)		15,520,007	15,880,548	16,106,270
1 Includes net unrealized gains of	$1,904,276	$1,831,948	$72,328	4	%	$1,903,165	$1,479,277	$1,492,517
2 Includes earning assets of	147,056,130	147,896,225	(840,095)	(1)		145,554,286	154,345,469	153,289,712

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

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								Increase/(Decrease) From
	March 31, 2010				December 31, 2009				Sequential Quarter			Prior Year Quarter
	Average   Balances	Interest  Income/    Expense	Yields/  Rates		Average   Balances	Interest  Income/    Expense	Yields/  Rates		Average   Balances	Yields/  Rates		Average   Balances	Yields/  Rates
ASSETS
Loans:
Real estate 1-4 family	$26,970	$397	5.88	%	$27,383	$410	5.99	%	($413)	(0.11)	%	($2,975)	(0.15)	%
Real estate construction	4,078	34	3.44		4,753	41	3.38		(675)	0.06		(3,298)	0.15
Real estate home equity lines	15,157	125	3.33		15,420	129	3.32		(263)	0.01		(750)	(0.05)
Real estate commercial	15,105	151	4.05		15,357	157	4.04		(252)	0.01		(234)	(0.13)
Commercial - FTE 1	33,094	449	5.50		32,707	454	5.51		387	(0.01)		(6,105)	0.81
Credit card	1,067	23	8.69		995	19	7.77		72	0.92		95	1.24
Consumer - direct	5,254	53	4.11		5,071	51	3.97		183	0.14		90	(0.31)
Consumer - indirect	6,697	101	6.10		6,636	104	6.22		61	(0.12)		73	(0.34)
Nonaccrual and restructured	7,013	11	0.64		6,714	12	0.68		299	(0.04)		2,206	0.28
Total loans	114,435	1,344	4.76		115,036	1,377	4.75		(601)	0.01		(10,898)	0.10
Securities available for sale:
Taxable	24,779	195	3.15		23,339	207	3.56		1,440	(0.41)		8,408	(1.72)
Tax-exempt - FTE 1	910	12	5.40		952	13	5.41		(42)	(0.01)		(162)	(0.10)
Total securities available for sale - FTE 1	25,689	207	3.23		24,291	220	3.63		1,398	(0.40)		8,246	(1.68)
Funds sold and securities purchased under agreements to resell	882	-	0.11		695	-	0.18		187	(0.07)		(82)	(0.28)
Loans held for sale	3,248	33	4.09		3,933	41	4.19		(685)	(0.10)		(2,101)	(0.53)
Interest-bearing deposits	26	-	0.28		24	-	0.36		2	(0.08)		-	(1.48)
Interest earning trading assets	2,616	20	3.07		2,608	22	3.25		8	(0.18)		(2,659)	(0.28)
Total earning assets	146,896	1,604	4.43		146,587	1,660	4.49		309	(0.06)		(7,494)	(0.19)
Allowance for loan and lease losses	(3,083)				(2,936)				(147)			(732)
Cash and due from banks	4,408				7,657				(3,249)			413
Other assets	18,690				17,648				1,042			1,274
Noninterest earning trading assets	2,634				3,099				(465)			(1,446)
Unrealized gains on securities available for sale, net	1,884				1,986				(102)			543
Total assets	$171,429				$174,041				($2,612)			($7,442)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts	$25,593	$17	0.27	%	$26,374	$23	0.35	%	($781)	(0.08)	%	$4,349	(0.23)	%
Money market accounts	36,250	61	0.67		34,318	63	0.72		1,932	(0.05)		6,933	(0.66)
Savings	3,856	2	0.24		3,814	2	0.25		42	(0.01)		413	(0.03)
Consumer time	14,417	70	1.97		15,549	91	2.33		(1,132)	(0.36)		(2,823)	(1.25)
Other time	10,448	56	2.18		11,901	75	2.48		(1,453)	(0.30)		(2,996)	(1.06)
Total interest-bearing consumer and commercial deposits	90,564	206	0.92		91,956	254	1.10		(1,392)	(0.18)		5,876	(0.85)
Brokered deposits	3,005	27	3.61		4,604	28	2.39		(1,599)	1.22		(4,000)	0.49
Foreign deposits	428	-	0.10		541	-	0.10		(113)	-		16	(0.07)
Total interest-bearing deposits	93,997	233	1.01		97,101	282	1.15		(3,104)	(0.14)		1,892	(0.86)
Funds purchased	1,416	1	0.17		1,427	1	0.16		(11)	0.01		(117)	(0.07)
Securities sold under agreements to repurchase	1,980	-	0.10		1,965	1	0.12		15	(0.02)		(1,266)	(0.12)
Interest-bearing trading liabilities	736	6	3.38		429	4	4.14		307	(0.76)		77	(0.41)
Other short-term borrowings	2,853	3	0.45		1,712	3	0.69		1,141	(0.24)		(2,114)	0.03
Long-term debt	17,581	159	3.66		17,692	162	3.64		(111)	0.02		(6,857)	(0.15)
Total interest-bearing liabilities	118,563	402	1.38		120,326	453	1.49		(1,763)	(0.11)		(8,385)	(0.75)
Noninterest-bearing deposits	24,520				25,052				(532)			1,693
Other liabilities	4,222				4,319				(97)			(132)
Noninterest-bearing trading liabilities	1,786				1,963				(177)			(588)
Shareholders’ equity	22,338				22,381				(43)			(30)
Total liabilities and shareholders’ equity	$171,429				$174,041				($2,612)			($7,442)
Interest Rate Spread			3.05	%			3.00	%		0.05	%		0.56	%
Net Interest Income - FTE 1		$1,202				$1,207
Net Interest Margin 2			3.32	%			3.27	%		0.05	%		0.45	%

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
	September 30, 2009				June 30, 2009				March 31, 2009
	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	$28,398	$424	5.97	%	$29,388	$437	5.95	%	$29,945	$452	6.03	%
Real estate construction	5,420	45	3.29		6,448	53	3.27		7,376	60	3.29
Real estate home equity lines	15,611	131	3.32		15,809	131	3.32		15,907	133	3.38
Real estate commercial	15,820	162	4.05		15,775	163	4.15		15,339	158	4.18
Commercial - FTE 1	35,410	453	5.07		38,599	459	4.77		39,199	453	4.69
Credit card	990	18	7.53		978	17	7.10		972	18	7.45
Consumer - direct	5,042	49	3.89		5,127	50	3.96		5,164	56	4.42
Consumer - indirect	6,617	105	6.33		6,499	103	6.37		6,624	105	6.44
Nonaccrual and restructured	6,488	10	0.59		5,500	11	0.78		4,807	4	0.36
Total loans	119,796	1,397	4.63		124,123	1,424	4.60		125,333	1,439	4.66
Securities available for sale:
Taxable	19,568	196	4.01		16,480	187	4.53		16,371	199	4.87
Tax-exempt - FTE 1	979	14	5.44		1,010	14	5.47		1,072	15	5.50
Total securities available for sale - FTE1	20,547	210	4.08		17,490	201	4.59		17,443	214	4.91
Funds sold and securities purchased under agreements to resell	695	-	0.22		826	1	0.27		964	1	0.39
Loans held for sale	5,101	57	4.49		6,547	72	4.42		5,349	62	4.62
Interest-bearing deposits	26	-	0.51		25	-	1.01		26	-	1.76
Interest earning trading assets	3,414	24	2.74		4,166	27	2.58		5,275	44	3.35
Total earning assets	149,579	1,688	4.48		153,177	1,725	4.52		154,390	1,760	4.62
Allowance for loan and lease losses	(2,843)				(2,684)				(2,351)
Cash and due from banks	3,508				4,189				3,995
Other assets	17,485				16,867				17,416
Noninterest earning trading assets	3,127				3,425				4,080
Unrealized gains on securities available for sale, net	1,607				1,507				1,341
Total assets	$172,463				$176,481				$178,871
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts	$23,956	$24	0.39	%	$22,768	$26	0.46	%	$21,244	$26	0.50	%
Money market accounts	32,505	70	0.86		31,251	86	1.10		29,317	96	1.33
Savings	3,733	3	0.32		3,662	2	0.26		3,443	2	0.27
Consumer time	16,735	118	2.80		17,367	133	3.06		17,240	137	3.22
Other time	13,041	94	2.86		13,905	106	3.06		13,444	108	3.24
Total interest-bearing consumer and commercial deposits	89,970	309	1.36		88,953	353	1.59		84,688	369	1.77
Brokered deposits	4,706	26	2.12		6,316	46	2.88		7,005	55	3.12
Foreign deposits	487	-	0.11		293	-	0.12		412	-	0.17
Total interest-bearing deposits	95,163	335	1.40		95,562	399	1.67		92,105	424	1.87
Funds purchased	1,522	-	0.18		2,199	1	0.20		1,533	1	0.24
Securities sold under agreements to repurchase	2,043	1	0.15		2,699	1	0.20		3,246	2	0.22
Interest-bearing trading liabilities	414	5	4.46		453	5	4.35		659	6	3.79
Other short-term borrowings	1,607	3	0.73		2,576	4	0.56		4,967	5	0.42
Long-term debt	18,389	176	3.80		20,050	194	3.88		24,438	229	3.81
Total interest-bearing liabilities	119,138	520	1.73		123,539	604	1.96		126,948	667	2.13
Noninterest-bearing deposits	24,516				24,574				22,827
Other liabilities	4,384				4,492				4,354
Noninterest-bearing trading liabilities	1,957				1,950				2,374
Shareholders’ equity	22,468				21,926				22,368
Total liabilities and shareholders’ equity	$172,463				$176,481				$178,871
Interest Rate Spread			2.75	%			2.56	%			2.49	%
Net Interest Income - FTE 1		$1,168				$1,121				$1,093
Net Interest Margin 2			3.10	%			2.94	%			2.87	%

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

OTHER FINANCIAL DATA

(Dollars in millions) (Unaudited)

	Three Months Ended
	March 31				Increase/(Decrease)
	2010		2009		Amount		%1
CREDIT DATA
Allowance for credit losses - beginning	$3,235		$2,378		$857		36	%
Provision for loan losses	877		994		(117)		(12)
Provision for unfunded commitments 4	(15)		3		(18)		NM
Charge-offs
Commercial	(107)		(141)		(34)		(24)
Real estate:
Home equity lines	(170)		(161)		9		6
Construction	(95)		(83)		12		14
Residential mortgages2	(420)		(185)		235		NM
Commercial real estate	-		(2)		(2)		(100)
Consumer:
Direct	(14)		(9)		5		56
Indirect	(27)		(49)		(22)		(45)
Credit cards	(29)		(17)		12		71
Total charge-offs	(862)		(647)		215		33
Recoveries
Commercial	11		9		2		22
Real estate:
Home equity lines	10		4		6		NM
Construction	4		1		3		NM
Residential mortgages	6		3		3		100
Commercial real estate	(3)		-		(3)		-
Consumer:
Direct	2		2		-		-
Indirect	10		17		(7)		(41)
Credit cards	1		1		-		-
Total recoveries	41		37		4		11
Net charge-offs	(821)		(610)		211		35
Allowance for credit losses - ending	$3,276		$2,765		$511		18
Components:
Allowance for loan and lease losses	$3,176		$2,735		$441		16	%
Unfunded commitments reserve	100		30		70		NM
Allowance for credit losses	$3,276		$2,765
Net charge-offs to average loans (annualized)
Commercial	1.13	%	1.35	%	(0.22)	%	(16)	%
Real estate:
Home equity lines	4.11		4.00		0.11		3
Construction	6.30		3.76		2.54		67
Residential mortgages	5.57		2.28		3.29		NM
Commercial real estate	0.08		0.05		0.03		60
Consumer:
Direct	0.92		0.54		0.38		70
Indirect	0.98		2.00		(1.02)		(51)
Credit cards	10.48		6.94		3.54		51
Total net charge-offs to total average loans	2.91		1.97		0.94		48
Period Ended
Nonaccrual/nonperforming loans
Commercial	$379		$400		($21)		(5)	%
Real estate:
Home equity lines	286		323		(37)		(11)
Construction	1,585		1,468		117		8
Residential mortgages	2,436		2,178		258		12
Commercial real estate	464		222		242		NM
Consumer loans	35		50		(15)		(30)
Total nonaccrual/nonperforming loans	5,185		4,641		544		12
Other real estate owned (“OREO”)	628		593		35		6
Other repossessed assets	70		12		58		NM
Nonperforming loans held for sale (“LHFS”)	160		-		160		100
Total nonperforming assets	$6,043		$5,246		$797		15
Restructured loans (accruing)	$1,908		$651		$1,257		NM
Total accruing loans past due 90 days or more 3	$1,475		$1,342		$133		10	%
Total nonperforming loans to total loans	4.55	%	3.75	%	0.80	%	21	%
Total nonperforming assets to total loans plus OREO, other repossessed assets, and nonperforming LHFS	5.26		4.21		1.05		25
Allowance to period-end loans	2.80		2.21		0.59		27
Allowance to nonperforming loans	61.74		60.38		1.36		2
Allowance to annualized net charge-offs	0.95	x	1.11	x	(0.16)	x	(14)

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

² Credit-related operating losses charged-off against previously established reserves within other liabilities totaled $0 and $152 million during the three month periods ended March 31, 2010 and 2009, respectively.

³ Total accruing loans past due 90 days or more contain loans that are guaranteed by governmental entities. These loans were $1,313 million and $956 million at March 31, 2010 and March 31, 2009, respectively.

⁴ Beginning in the fourth quarter of 2009, SunTrust began recording the provision for unfunded commitments within the provision for credit losses in the Consolidated Statements of Income/(Loss). Including the provision for unfunded commitments for the first quarter of 2010, the provision for credit losses was $862 million for the three months ended March 31, 2010. Considering the immateriality of this provision, prior to the fourth quarter of 2009, the provision for unfunded commitments remains classified within other noninterest expense in the Consolidated Statements of Income/(Loss).

Page 9

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER OTHER FINANCIAL DATA

(Dollars in millions) (Unaudited)

	Three Months Ended
	March 31 2010		December 31 2009		Increase/(Decrease)				September 30		June 30		March 31
					Amount		%1		2009		2009		2009
CREDIT DATA
Allowance for credit losses - beginning	$3,235		$3,082		$153		5	%	$2,925		$2,765		$2,378
Provision for loan losses	877		917		(40)		(4)		1,134		962		994
Provision for unfunded commitments 4	(15)		57		(72)		NM		29		(1)		3
Charge-offs
Commercial	(107)		(111)		(4)		(3)		(205)		(156)		(141)
Real estate:
Home equity lines	(170)		(168)		2		1		(189)		(197)		(161)
Construction	(95)		(180)		(85)		(47)		(159)		(86)		(83)
Residential mortgages2	(420)		(336)		84		25		(390)		(325)		(185)
Commercial real estate	-		(3)		(3)		(100)		(24)		(3)		(2)
Consumer:
Direct	(14)		(14)		-		-		(20)		(13)		(9)
Indirect	(27)		(35)		(8)		(23)		(35)		(33)		(49)
Credit cards	(29)		(22)		7		32		(24)		(23)		(17)
Total charge-offs	(862)		(869)		(7)		(1)		(1,046)		(836)		(647)
Recoveries
Commercial	11		15		(4)		(25)		9		6		9
Real estate:
Home equity lines	10		13		(3)		(23)		9		5		4
Construction	4		1		3		NM		2		3		1
Residential mortgages	6		6		-		-		4		5		3
Commercial real estate	(3)		-		(3)		-		3		-		-
Consumer:
Direct	2		2		-		-		2		2		2
Indirect	10		10		-		-		10		13		17
Credit cards	1		1		-		-		1		1		1
Total recoveries	41		48		(7)		(14)		40		35		37
Net charge-offs	(821)		(821)		-		-		(1,006)		(801)		(610)
Allowance for credit losses - ending	$3,276		$3,235		$41		1		$3,082		$2,925		$2,765
Components:
Allowance for loan and lease losses	$3,176		$3,120		$56		2	%	$3,024		$2,896		$2,735
Unfunded commitments reserve	100		115		(15)		(13)		58		29		30
Allowance for credit losses	$3,276		$3,235						$3,082		$2,925		$2,765
Net charge-offs to average loans (annualized)
Commercial	1.13	%	1.14	%	(0.01)	%	(1)	%	2.15	%	1.53	%	1.35	%
Real estate:
Home equity lines	4.11		3.91		0.20		5		4.51		4.79		4.00
Construction	6.30		11.38		(5.08)		(45)		8.83		4.20		3.76
Residential mortgages	5.57		4.35		1.22		28		4.92		4.06		2.28
Commercial real estate	0.08		0.06		0.02		33		0.51		0.07		0.05
Consumer:
Direct	0.92		0.96		(0.04)		(4)		1.41		0.91		0.54
Indirect	0.98		1.50		(0.52)		(35)		1.50		1.24		2.00
Credit cards	10.48		8.51		1.97		23		9.39		9.03		6.94
Total net charge-offs to total average loans	2.91		2.83		0.08		3		3.33		2.59		1.97
Period Ended
Nonaccrual/nonperforming loans
Commercial	$379		484		($105)		(22)	%	595		716		400
Real estate:
Home equity lines	286		289		(3)		(1)		280		311		323
Construction	1,585		1,484		101		7		1,582		1,613		1,468
Residential mortgages	2,436		2,716		(280)		(10)		2,645		2,529		2,178
Commercial real estate	464		392		72		18		303		285		222
Consumer loans	35		37		(2)		(5)		39		50		50
Total nonaccrual/nonperforming loans	5,185		5,402		(217)		(4)		5,444		5,504		4,641
OREO	628		620		8		1		572		589		593
Other repossessed assets	70		79		(9)		(11)		79		72		12
Nonperforming LHFS	160		-		160		100		-		-		-
Total nonperforming assets	$6,043		$6,101		($58)		(1)		$6,095		$6,165		$5,246
Restructured loans (accruing)	$1,908		$1,641		$267		16	%	$1,344		$925		$651
Total accruing loans past due 90 days or more 3	$1,475		$1,500		($25)		(2)	%	$1,509		$1,411		$1,342
Total nonperforming loans to total loans	4.55	%	4.75	%	(0.20)	%	(4)	%	4.67	%	4.48	%	3.75	%
Total nonperforming assets to total loans plus OREO, other repossessed assets, and nonperforming LHFS	5.26		5.33		(0.07)		(1)		5.20		4.99		4.21
Allowance to period-end loans	2.80		2.76		0.04		1		2.61		2.37		2.21
Allowance to nonperforming loans	61.74		58.86		2.88		5		56.67		53.81		60.38
Allowance to annualized net charge-offs	0.95	x	0.96	x	(0.01)	x	(1)		0.76	x	0.90	x	1.11	x

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

² Credit-related operating losses charged-off against previously established reserves within other liabilities totaled $43 million and $152 million during the three month periods ended June 30, 2009 and March 31, 2009, respectively, and $0 in all other periods presented.

³ Total accruing loans past due 90 days or more contain loans that are guaranteed by governmental entities. These loans were $1,313 million, $1,311 million, $1,209 million, $1,101 million, and $956 million at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009, and March 31, 2009, respectively.

⁴ Beginning in the fourth quarter of 2009, SunTrust began recording the provision for unfunded commitments within the provision for credit losses in the Consolidated Statements of Income/(Loss). Including the provision for unfunded commitments for the first quarter of 2010 and fourth quarter of 2009, the provision for credit losses was $862 million and $974 million for the three months ended March 31, 2010 and December 31, 2009, respectively. Considering the immateriality of this provision, prior to the fourth quarter of 2009, the provision for unfunded commitments remains classified within other noninterest expense in the Consolidated Statements of Income/(Loss).

Page 10

SunTrust Banks, Inc. and Subsidiaries

OTHER FINANCIAL DATA (continued)

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

	Three Months Ended March 31
	Core Deposit Intangible	Mortgage Servicing Rights- Amortized Cost	Mortgage Servicing Rights- Fair Value	Other	Total
OTHER INTANGIBLE ASSET ROLLFORWARD
Balance, beginning of period	$145	$810	$ -	$80	$1,035
Designated at fair value (transfers from amortized cost)	-	(188)	188	-	-
Amortization	(12)	(67)	-	(4)	(83)
Mortgage servicing rights (“MSRs”) originated	-	-	146	-	146
MSRs impairment recovery	-	32	-	-	32
Fair value changes due to inputs and assumptions	-	-	(9)	-	(9)
Other changes in fair value	-	-	(17)	-	(17)
Cymric purchase price adjustment	-	-	-	(1)	(1)
Balance, March 31, 2009	$133	$587	$308	$75	$1,103
Balance, beginning of period	$104	$604	$936	$67	$1,711
Designated at fair value (transfers from amortized cost)	-	(604)	604	-	-
Fair value change due to fair value election	-	-	145	-	145
Amortization	(9)	-	-	(3)	(12)
MSRs originated	-	-	66	-	66
Fair value changes due to inputs and assumptions	-	-	(45)	-	(45)
Other changes in fair value	-	-	(65)	-	(65)
Balance, March 31, 2010	$95	$ -	$1,641	$64	$1,800
	Three Months Ended
	March 31 2010	December 31 2009	September 30 2009	June 30 2009	March 31 2009
COMMON SHARE ROLLFORWARD (000’s)
Beginning balance	499,157	499,147	498,786	356,693	354,515
Common shares issued/exchanged for employee benefit plans, stock option, and restricted stock activity	701	10	361	226	2,178
Issuance of common stock - Capital Plan	-	-	-	141,867	-
Ending balance	499,858	499,157	499,147	498,786	356,693
COMMON STOCK REPURCHASE ACTIVITY (000’s)
Number of common shares repurchased 1	-	-	-	-	-
Average price per share of repurchased common shares	$ -	$ -	$ -	$ -	$ -
Maximum number of common shares that may yet be purchased under repurchase plans or programs	30,000	30,000	30,000	30,000	30,000

¹ 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.

Page 11

SunTrust Banks, Inc. and Subsidiaries

RECONCILEMENT OF NON-GAAP MEASURES

APPENDIX A TO THE EARNINGS RELEASE

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

	Three Months Ended
	March 31 2010		December 31 2009		September 30 2009		June 30 2009		March 31 2009
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE 8
Net loss	($161)		($248)		($317)		($183)		($815)
Securities (gains)/losses, net of tax	(1)		(45)		(29)		15		(2)
Net loss excluding net securities (gains)/losses, net of tax	(162)		(293)		(346)		(168)		(817)
The Coca-Cola Company stock dividend, net of tax	(12)		(11)		(11)		(11)		(11)
Net loss excluding net securities (gains)/losses and The Coca-Cola Company stock dividend, net of tax	(174)		(304)		(357)		(179)		(828)
Preferred dividends, Series A	(2)		(2)		(2)		(6)		(5)
U.S. Treasury preferred dividends and accretion of discount	(66)		(66)		(66)		(66)		(66)
Dividends and undistributed earnings allocated to unvested shares	-		-		3		2		11
Gain on purchase of Series A preferred stock	-		-		5		89		-
Net loss available to common shareholders excluding net securities (gains)/losses and The Coca-Cola Company stock dividend	($242)		($372)		($417)		($160)		($888)
Total average assets	$171,429		$174,041		$172,463		$176,480		$178,871
Average net unrealized securities gains	(1,884)		(1,986)		(1,607)		(1,506)		(1,341)
Average assets less net unrealized securities gains	$169,545		$172,055		$170,856		$174,974		$177,530
Total average common shareholders’ equity	$17,419		$17,467		$17,556		$16,700		$17,144
Average accumulated other comprehensive income	(889)		(698)		(504)		(745)		(824)
Total average realized common shareholders’ equity	$16,530		$16,769		$17,052		$15,955		$16,320
Return on average total assets	(0.38)	%	(0.57)	%	(0.73)	%	(0.42)	%	(1.85)	%
Impact of excluding net realized and unrealized securities (gains)/losses and The Coca-Cola Company stock dividend	(0.04)		(0.13)		(0.10)		0.01		(0.04)
Return on average total assets less net unrealized securities gains 1	(0.42)	%	(0.70)	%	(0.83)	%	(0.41)	%	(1.89)	%
Return on average common shareholders’ equity	(5.34)	%	(7.19)	%	(8.52)	%	(3.95)	%	(20.71)	%
Impact of excluding net realized and unrealized securities (gains)/losses and The Coca-Cola Company stock dividend	(0.59)		(1.62)		(1.18)		(0.07)		(1.37)
Return on average realized common shareholders’ equity 2	(5.93)	%	(8.81)	%	(9.70)	%	(4.02)	%	(22.08)	%
Efficiency ratio 3	71.60	%	74.58	%	73.53	%	69.68	%	97.19	%
Impact of excluding amortization/impairment of goodwill/intangible assets other than MSRs	(0.69)		(0.62)		(0.71)		(0.63)		(34.64)
Tangible efficiency ratio 4	70.91	%	73.96	%	72.82	%	69.05	%	62.55	%
Total shareholders’ equity	$22,620		$22,531		$22,908		$22,953		$21,646
Goodwill, net of deferred taxes	(6,202)		(6,204)		(6,205)		(6,213)		(6,225)
Other intangible assets including MSRs, net of deferred taxes	(1,761)		(1,671)		(1,560)		(1,468)		(1,049)
MSRs	1,641		1,539		1,423		1,322		895
Tangible equity	16,298		16,195		16,566		16,594		15,267
Preferred stock	(4,923)		(4,917)		(4,911)		(4,919)		(5,227)
Tangible common equity	$11,375		$11,278		$11,655		$11,675		$10,040
Total assets	$171,796		$174,165		$172,718		$176,735		$179,116
Goodwill	(6,323)		(6,319)		(6,314)		(6,314)		(6,309)
Other intangible assets including MSRs	(1,800)		(1,711)		(1,604)		(1,517)		(1,103)
MSRs	1,641		1,539		1,423		1,322		895
Tangible assets	$165,314		$167,674		$166,223		$170,226		$172,599
Tangible equity to tangible assets 5	9.86	%	9.66	%	9.96	%	9.75	%	8.85	%
Tangible book value per common share 7	$22.76		$22.59		$23.35		$23.41		$28.15
Net interest income	$1,171		$1,176		$1,137		$1,090		$1,062
Taxable-equivalent adjustment	31		31		31		31		31
Net interest income - FTE	1,202		1,207		1,168		1,121		1,093
Noninterest income	698		742		775		1,072		1,121
Total revenue - FTE	1,900		1,949		1,943		2,193		2,214
Securities (gains)/losses, net	(2)		(73)		(47)		25		(3)
Total revenue - FTE excluding net securities (gains)/losses 6	$1,898		$1,876		$1,896		$2,218		$2,211

¹SunTrust presents a return on average assets less net unrealized gains on securities. The foregoing numbers primarily reflect adjustments to remove the effects of the securities portfolio which includes the ownership by the Company of common shares of The Coca-Cola Company. 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 client relationship and client transaction driven. The return on average assets less net unrealized gains on securities is computed by dividing annualized net loss, excluding securities gains/losses and The Coca-Cola Company dividend, net of tax, by average assets less net unrealized securities gains.

²SunTrust 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 holding of a specific security. The return on average realized common shareholders’ equity is computed by dividing annualized net loss available to common shareholders, excluding securities gains/losses and The Coca-Cola Company dividend, net of tax, by average realized common shareholders’ equity.

³Computed 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.

⁴SunTrust presents a tangible efficiency ratio which excludes the amortization/impairment of goodwill/intangible assets other than MSRs. 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.

⁵SunTrust presents a tangible equity to tangible assets ratio that excludes the after-tax 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.

⁶SunTrust presents total revenue- FTE excluding net realized securities (gains)/losses. The Company believes noninterest income without net securities (gains)/losses is more indicative of the Company’s performance because it isolates income that is primarily client relationship and client transaction driven and is more indicative of normalized operations.

⁷SunTrust presents a tangible book value per common share that excludes the after-tax impact of purchase accounting intangible assets and also excludes preferred stock from tangible equity. The Company believes this measure is useful to investors because, by removing the effect of intangible assets that result from merger and acquisition activity as well as preferred stock (the level of which may vary from company to company), it allows investors to more easily compare the Company’s book value on common stock to other companies in the industry.

⁸Certain amounts in this schedule are presented net of applicable income taxes, which are calculated based on each subsidiary’s federal and state tax rates and laws. In general, the federal marginal tax rate is 35%, but the state marginal tax rates range from 1% to 8% in accordance with the subsidiary’s income tax filing requirements with various tax authorities. In addition, the effective tax rate may differ from the federal and state marginal tax rates in certain cases where a permanent difference exists.

Page 12

SunTrust Banks, Inc. and Subsidiaries

RECONCILEMENT OF NON-GAAP MEASURES

APPENDIX A TO THE EARNINGS RELEASE, continued

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

	Three Months Ended
	March 31 2010	December 31 2009	September 30 2009	June 30 2009	March 31 2009
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE2
Total noninterest expense	$1,361	$1,454	$1,429	$1,528	$2,152
Goodwill/intangible impairment charges other than MSRs	-	-	-	-	751
Total noninterest expense excluding goodwill/intangible impairment charges other than MSRs1	$1,361	$1,454	$1,429	$1,528	$1,401
Net loss	($161)	($248)	($317)	($183)	($815)
Goodwill/intangible impairment charges other than MSRs, after tax	-	-	-	-	724
Net loss excluding goodwill/intangible impairment charges other than MSRs, after tax1	($161)	($248)	($317)	($183)	($91)
Net loss available to common shareholders	($229)	($316)	($377)	($164)	($875)
Goodwill/intangible impairment charges other than MSRs attributable to common shareholders, after tax	-	-	-	-	715
Net loss available to common shareholders excluding goodwill/intangible impairment charges other than MSRs, after tax1	($229)	($316)	($377)	($164)	($160)
Net loss per average common share, diluted	($0.46)	($0.64)	($0.76)	($0.41)	($2.49)
Impact of excluding goodwill/intangible impairment charges other than MSRs attributable to common shareholders, after tax	-	-	-	-	2.03
Net loss per average diluted common share, excluding goodwill/intangible impairment charges other than MSRs, after tax1	($0.46)	($0.64)	($0.76)	($0.41)	($0.46)
SUPPLEMENTAL INCOME STATEMENT RECONCILIATION
Net loss	($161)	($248)	($317)	($183)	($815)
Preferred dividends, Series A	(2)	(2)	(2)	(6)	(5)
U.S. Treasury preferred dividends and accretion of discount	(66)	(66)	(66)	(66)	(66)
Dividends and undistributed earnings allocated to unvested shares	-	-	3	2	11
Gain on purchase of Series A preferred stock	-	-	5	89	-
Net loss available to common shareholders	($229)	($316)	($377)	($164)	($875)

¹SunTrust presents noninterest expense, net loss, net loss available to common shareholders, and net 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.

² Certain amounts in this schedule are presented net of applicable income taxes, which are calculated based on each subsidiary’s federal and state tax rates and laws. In general, the federal marginal tax rate is 35%, but the state marginal tax rates range from 1% to 8% in accordance with the subsidiary’s income tax filing requirements with various tax authorities. In addition, the effective tax rate may differ from the federal and state marginal tax rates in certain cases where a permanent difference exists.

Page 13

SunTrust Banks, Inc. and Subsidiaries

RETAIL AND COMMERCIAL LINE OF BUSINESS

(Dollars in thousands) (Unaudited)

	Three Months Ended
	March 31 2010		March 31 2009		% Change3
Statements of Income
Net interest income1	$645,808		$578,968		12	%
FTE adjustment	10,916		8,793		24
Net interest income - FTE	656,724		587,761		12
Provision for credit losses2	239,522		219,031		9
Net interest income after provision for credit losses - FTE	417,202		368,730		13
Noninterest income before securities gains/(losses)	318,938		326,751		(2)
Securities gains/(losses), net	18		(72)		NM
Total noninterest income	318,956		326,679		(2)
Noninterest expense before amortization/impairment of goodwill/intangible assets	716,564		695,075		3
Amortization/impairment of goodwill/intangible assets	9,767		311,114		(97)
Total noninterest expense	726,331		1,006,189		(28)
Income/(loss) before provision/(benefit) for income taxes	9,827		(310,780)		NM
Provision/(benefit) for income taxes	(28,547)		(39,190)		(27)
FTE adjustment	10,916		8,793		24
Net income/(loss) including income attributable to noncontrolling interest	27,458		(280,383)		NM
Less: net income attributable to noncontrolling interest	-		-		-
Net income/(loss)	$27,458		($280,383)		NM
Total revenue - FTE	$975,680		$914,440		7
Selected Average Balances
Total loans	$45,413,431		$50,056,366		(9)	%
Goodwill	5,738,804		6,206,435		(8)
Other intangible assets excluding MSRs	99,866		138,996		(28)
Total assets	52,730,573		57,757,827		(9)
Consumer and commercial deposits	93,354,373		86,361,720		8
Performance Ratios
Efficiency ratio	74.44	%	110.03	%
Impact of excluding amortization/impairment of goodwill/intangible assets	(5.76)		(39.73)
Tangible efficiency ratio	68.68	%	70.30	%

¹ Net interest income does not include the funding benefit that would result from holding shareholders’ equity at the line of business level due to the fact that shareholder’s equity is not allocated to the lines of business at this time.

² Provision for credit losses represents net charge-offs for the lines of business.

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

Page 14

SunTrust Banks, Inc. and Subsidiaries

CORPORATE AND INVESTMENT BANKING LINE OF BUSINESS

(Dollars in thousands) (Unaudited)

	Three Months Ended
	March 31 2010		March 31 2009		% Change3
Statements of Income
Net interest income1	$90,395		$77,081		17	%
FTE adjustment	16,462		18,275		(10)
Net interest income - FTE	106,857		95,356		12
Provision for credit losses2	37,331		75,070		(50)
Net interest income after provision for credit losses - FTE	69,526		20,286		NM
Noninterest income before securities gains/(losses)	125,669		159,225		(21)
Securities gains/(losses), net	-		-		-
Total noninterest income	125,669		159,225		(21)
Noninterest expense before amortization of intangible assets	133,946		151,715		(12)
Amortization of intangible assets	-		122		(100)
Total noninterest expense	133,946		151,837		(12)
Income before provision/(benefit) for income taxes	61,249		27,674		NM
Provision/(benefit) for income taxes	7,767		(7,226)		NM
FTE adjustment	16,462		18,275		(10)
Net income including income attributable to noncontrolling interest	37,020		16,625		NM
Less: net income attributable to noncontrolling interest	5		-		-
Net income	$37,015		$16,625		NM
Total revenue - FTE	$232,526		$254,581		(9)
Selected Average Balances
Total loans	$18,437,085		$23,232,725		(21)	%
Goodwill	223,307		223,307		-
Other intangible assets excluding MSRs	-		305		(100)
Total assets	27,754,331		34,824,140		(20)
Consumer and commercial deposits	7,324,838		7,411,957		(1)
Performance Ratios
Efficiency ratio	57.60	%	59.64	%
Impact of excluding amortization of intangible assets	(0.63)		(0.65)
Tangible efficiency ratio	56.97	%	58.99	%

¹ Net interest income does not include the funding benefit that would result from holding shareholders’ equity at the line of business level due to the fact that shareholder’s equity is not allocated to the lines of business at this time.

² Provision for credit losses represents net charge-offs for the lines of business.

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

Page 15

SunTrust Banks, Inc. and Subsidiaries

HOUSEHOLD LENDING LINE OF BUSINESS

(Dollars in thousands) (Unaudited)

	Three Months Ended
	March 31 2010		March 31 2009		% Change3
Statements of Income
Net interest income1	$199,623		$217,826		(8)	%
FTE adjustment	-		-		-
Net interest income - FTE	199,623		217,826		(8)
Provision for credit losses2	530,946		306,017		74
Net interest income after provision for credit losses - FTE	(331,323)		(88,191)		NM
Noninterest income before securities gains/(losses)	63,215		336,086		(81)
Securities gains/(losses), net	(1,066)		(723)		47
Total noninterest income	62,149		335,363		(81)
Noninterest expense before amortization/impairment of goodwill/intangible assets	302,061		347,858		(13)
Amortization/impairment of goodwill/intangible assets	349		452,293		(100)
Total noninterest expense	302,410		800,151		(62)
Loss before benefit for income taxes	(571,584)		(552,979)		3
Benefit for income taxes	(218,173)		(56,205)		NM
FTE adjustment	-		-		-
Net loss including income attributable to noncontrolling interest	(353,411)		(496,774)		(29)
Less: net income attributable to noncontrolling interest	219		869		(75)
Net loss	($353,630)		($497,643)		(29)
Total revenue - FTE	$261,772		$553,189		(53)
Selected Average Balances
Total loans	$42,215,026		$43,499,456		(3)	%
Goodwill	-		283,291		(100)
Other intangible assets excluding MSRs	7,864		9,355		(16)
Total assets	48,833,265		52,702,299		(7)
Consumer and commercial deposits	2,474,060		2,954,449		(16)
Performance Ratios
Efficiency ratio	115.52	%	144.64	%
Impact of excluding amortization/impairment of goodwill/intangible assets	(0.17)		(82.14)
Tangible efficiency ratio	115.35	%	62.50	%
Other Information
Production Data
Channel mix
Retail	$3,251,717		$6,380,622		(49)	%
Wholesale	1,337,900		3,605,375		(63)
Correspondent	1,056,013		3,456,256		(69)
Total production	$5,645,630		$13,442,253		(58)
Channel mix - percent
Retail	58	%	47	%
Wholesale	24		27
Correspondent	18		26
Total production	100	%	100	%
Purchase and refinance mix
Refinance	$3,440,325		$10,800,272		(68)
Purchase	2,205,305		2,641,981		(17)
Total production	$5,645,630		$13,442,253		(58)
Purchase and refinance mix - percent
Refinance	61	%	80	%
Purchase	39		20
Total production	100	%	100	%
Applications	$9,897,522		$25,614,207		(61)
Mortgage Servicing Data (End of Period)
Total loans serviced	$178,031,783		$166,420,008		7	%
Total loans serviced for others	146,019,268		131,882,752		11
Net carrying value of MSRs	1,641,188		894,797		83
Ratio of net carrying value of MSRs to total loans serviced for others	1.124	%	0.678	%

¹ Net interest income does not include the funding benefit that would result from holding shareholders’ equity at the line of business level due to the fact that shareholder’s equity is not allocated to the lines of business at this time.

² Provision for credit losses represents net charge-offs for the lines of business.

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

Page 16

SunTrust Banks, Inc. and Subsidiaries

WEALTH AND INVESTMENT MANAGEMENT LINE OF BUSINESS

(Dollars in thousands) (Unaudited)

	Three Months Ended
	March 31 2010		March 31 2009		% Change3
Statements of Income
Net interest income1	$102,485		$86,751		18	%
FTE adjustment	4		4		-
Net interest income - FTE	102,489		86,755		18
Provision for credit losses2	12,783		9,798		30
Net interest income after provision for credit losses - FTE	89,706		76,957		17
Noninterest income before securities gains/(losses)	185,627		174,262		7
Securities gains/(losses), net	3		3		-
Total noninterest income	185,630		174,265		7
Noninterest expense before amortization of intangible assets	218,225		220,473		(1)
Amortization of intangible assets	2,971		3,385		(12)
Total noninterest expense	221,196		223,858		(1)
Income before provision for income taxes	54,140		27,364		98
Provision for income taxes	20,369		10,465		95
FTE adjustment	4		4		-
Net income including income attributable to noncontrolling interest	33,767		16,895		100
Less: net income attributable to noncontrolling interest	(69)		-		-
Net income	$33,836		$16,895		NM
Total revenue - FTE	$288,119		$261,020		10
Selected Average Balances
Total loans	$8,065,491		$8,285,215		(3)	%
Goodwill	358,040		338,211		6
Other intangible assets excluding MSRs	54,686		63,648		(14)
Total assets	9,065,101		9,032,195		-
Consumer and commercial deposits	11,252,511		10,109,074		11
Performance Ratios
Efficiency ratio	76.77	%	85.76	%
Impact of excluding amortization of intangible assets	(2.27)		(2.79)
Tangible efficiency ratio	74.50	%	82.97	%
Other Information (End of Period)
Assets under administration
Managed (discretionary) assets	$122,651,494		$106,221,632		15	%
Non-managed assets	46,684,915		39,458,528		18
Total assets under administration	169,336,409		145,680,160		16
Brokerage assets	33,257,609		28,760,749		16
Corporate trust assets	9,262,590		8,978,698		3
Total assets under advisement	$211,856,608		$183,419,607		16

¹ Net interest income does not include the funding benefit that would result from holding shareholders’ equity at the line of business level due to the fact that shareholder’s equity is not allocated to the lines of business at this time.

² Provision for credit losses represents net charge-offs for the lines of business.

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

Page 17

SunTrust Banks, Inc. and Subsidiaries

CORPORATE OTHER AND TREASURY

(Dollars in thousands) (Unaudited)

	Three Months Ended
	March 31 2010		March 31 2009		% Change2
Statements of Income
Net interest income	$133,126		$101,472		31	%
FTE adjustment	3,119		3,787		(18)
Net interest income - FTE	136,245		105,259		29
Provision for credit losses1	41,027		384,182		(89)
Net interest income after provision for credit losses - FTE	95,218		(278,923)		NM
Noninterest income before securities gains/(losses)	3,168		121,537		(97)
Securities gains/(losses), net	2,588		4,169		(38)
Total noninterest income	5,756		125,706		(95)
Noninterest expense before amortization of intangible assets	(23,440)		(30,114)		(22)
Amortization of intangible assets	100		102		(2)
Total noninterest expense	(23,340)		(30,012)		(22)
Income/(loss) before provision/(benefit) for income taxes	124,314		(123,205)		NM
Provision/(benefit) for income taxes	24,422		(58,621)		NM
FTE adjustment	3,119		3,787		(18)
Net income/(loss) including income attributable to noncontrolling interest	96,773		(68,371)		NM
Less: net income attributable to noncontrolling interest	2,266		2,290		(1)
Net income/(loss)	$94,507		($70,661)		NM
Total revenue - FTE	$142,001		$230,965		(39)
Selected Average Balances
Total loans	$303,771		$259,735		17	%
Securities available for sale	25,977,309		18,686,431		39
Goodwill	(1)		-		-
Other intangible assets excluding MSRs	3,669		4,070		(10)
Total assets	33,045,877		24,554,824		35
Consumer and commercial deposits	678,423		677,778		-
Other Information
Duration of investment portfolio	2.6	%	2.2	%
Accounting net interest income interest rate sensitivity3:
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months	1.0	%	2.1	%
Instantaneous 100 bp decrease in rates over next 12 months	(0.4)	%	(0.4)	%
Economic net interest income interest rate sensitivity3:
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months	0.4	%	1.5	%
Instantaneous 100 bp decrease in rates over next 12 months	(0.1)	%	0.1	%

¹ Provision for credit losses is the difference between net charge-offs recorded by the lines of business and consolidated provision for credit losses.

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

³ 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 certain long term debt and 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 net interest income.

Page 18

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED - SEGMENT TOTALS

(Dollars in thousands) (Unaudited)

	Three Months Ended
	March 31 2010		March 31 2009		% Change1
Statements of Income
Net interest income	$1,171,437		$1,062,098		10	%
FTE adjustment	30,501		30,859		(1)
Net interest income - FTE	1,201,938		1,092,957		10
Provision for credit losses	861,609		994,098		(13)
Net interest income after provision for credit losses - FTE	340,329		98,859		NM
Noninterest income before securities gains/(losses)	696,617		1,117,861		(38)
Securities gains/(losses), net	1,543		3,377		(54)
Total noninterest income	698,160		1,121,238		(38)
Noninterest expense before amortization/impairment of goodwill/intangible assets	1,347,356		1,385,007		(3)
Amortization/impairment of goodwill/intangible assets	13,187		767,016		(98)
Total noninterest expense	1,360,543		2,152,023		(37)
Loss before provision/(benefit) for income taxes	(322,054)		(931,926)		(65)
Provision/(benefit) for income taxes	(194,162)		(150,777)		29
FTE adjustment	30,501		30,859		(1)
Loss including income attributable to noncontrolling interest	(158,393)		(812,008)		(80)
Less: net income attributable to noncontrolling interest	2,421		3,159		(23)
Net loss	($160,814)		($815,167)		(80)
Total revenue - FTE	$1,900,098		$2,214,195		(14)
Selected Average Balances
Total loans	$114,434,804		$125,333,497		(9)	%
Goodwill	6,320,150		7,051,244		(10)
Other intangible assets excluding MSRs	166,085		216,374		(23)
Total assets	171,429,147		178,871,285		(4)
Consumer and commercial deposits	115,084,205		107,514,978		7
Performance Ratios
Efficiency ratio	71.60	%	97.19	%
Impact of excluding amortization/impairment of goodwill/intangible assets	(0.69)		(34.64)
Tangible efficiency ratio	70.91	%	62.55	%

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

Page 19

EX-99.2

SunTrust Banks, Inc.

1Q 2010 Earnings Presentation

April 21, 2010

Exhibit 99.2

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

2009

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

reconciliations

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,

future

levels

of

charge-offs

generally

and

in

the

construction,

residential

mortgage,

and

residential

builder

portfolios,

future

income

from

service

charges,

and

future

performance

of

the

commercial

real

estate

portfolio

are

forward-looking

statements.

Also,

any

statement

that

does

not

describe

historical

or

current

facts,

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.”

Forward-looking

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

reasonswhy

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

Item

1A

of

Part

I

of

our

10-K

and

in

other

periodic

reports

thatwe

file

with

the

SEC.

Those

factors

include:

difficult

market

conditions

have

adversely

affected

our

industry; recent

levels

of

market

volatility

are

unprecedented;

we

are

subject

to

capital

adequacy

guidelines

and,

ifwe

fail

to

meet

these

guidelines,

our

financial

condition

would

be

adversely

affected;

recently

enacted

legislation,

or

legislation

enacted

in

the

future,

or

any

proposed

federal

programs

subject

us

to

increased

regulation

and

may

adversely

affect

us;

we

have

not

yet

received

permission

to

repay

TARP

funds;

emergency

measures

designed

to

stabilize

the

U.S.

banking

system

are

beginning

to

wind

down;

we

are

subject

to

credit

risk;

weakness

in

the

economy

and

in

the

real

estate

market,

including

specificweakness

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;

we

may

continue

to

suffer

increased

losses

in

our

loan

portfolio

despite

enhancement

of

our

underwriting

policies;

depressed

market

values

for

our

stock

may

require

us

towrite

down

goodwill;

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

business

and

revenues;

we

rely

on

other

companies

to

provide

key

components

of

our

business

infrastructure;

the

soundness

of

other

financial

institutions

could

adversely

affect

us;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;

we

are

subject

to

certain

litigation,

and

our

expenses

related

to

this

litigation

may

adversely

affect

our

results;

regulation

by

federal

and

state

agencies

could

adversely

affect

the

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

your

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

real

estate,

increases

in

unemployment,

and

the

related

effects

on

local

economies

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;

our

allowance

for

loan

losses

may

not

be

adequate

to

cover

our

eventual

losses;

wewill

realize

future

losses

if

the

proceeds

we

receive

upon

liquidation

of

nonperforming

assets

are

less

than

the

carrying

value

of

such

assets;

disruptions

in

our

ability

to

access

global

capital

markets

may

negatively

affect

our

capital

resources

and

liquidity;

in

2009

and

2010,

credit

rating

agencies

downgraded

the

credit

ratings

of

SunTrust

Bank

and

SunTrust

Banks,

Inc.,

and

these

downgrades

and

any

subsequent

downgrades

could

adversely

impact

the

price

and

liquidity

of

our

securities

and

could

have

an

impact

on

our

businesses

and

results

of

operations;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,

and

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

howwe

report

our

financial

condition

and

results

of

operations,

and

require

management

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;

and

we

may

enter

into

transactions

with

off-balance

sheet

affiliates

or

our

subsidiaries.

2

I.    HIGHLIGHTS

II.

CAPITAL

III.  FINANCIAL PERFORMANCE

IV.  RISK REVIEW

V.   CONCLUSION

Table of Contents

VI.   APPENDIX

3

EPS Improved Sequentially

Elevated Credit Costs

Revenue Cyclically Soft

Slowed Pace of Loan Decline

DIFFICULT BUT IMPROVED

OPERATING ENVIRONMENT

CONTINUED POSITIVE

TRENDS

Improved Asset Quality

Solid Capital Position

Favorable Deposit Mix 

Expanded Margin

Well Managed Expenses

First Quarter Highlights

I. HIGHLIGHTS

4

1Q 2010

4Q 2009

3Q 2009

2Q 2009

Estimate

Actual                 Actual               Actual

Capital Ratios Remained Solid

Tier 1 Common Ratio

Tangible

Common

Equity

Ratio¹

Tier 1 Capital Ratio

Tier

1

Capital

Ratio

(Excl

TARP)²

Total Capital Ratio

Book Value per Share                          

Tangible Common Book Value

per Share¹

Capital Ratios

II. CAPITAL

7.34%

6.86%

12.23%

9.11%

15.31%

$36.16

$23.41

1.

Please

refer

to

the

appendix

to

this

presentation

for

a

reconcilement

to

the

most

directly

comparable

GAAP

financial

measure

2.

TARP

preferred

included

in

Tier

1

ratio

contributes

an

estimated

3.45%

to

the

3/31/10

Tier

1

capital

ratio,

3.40%

at

12/31/09,

3.27%

at

9/30/09,

and

3.12%

at

6/30/09

7.49%

7.01%

12.58%

9.31%

15.92%

$36.06

$23.35

7.67%

6.73%

12.96%

9.56%

16.43%

$35.29

$22.59

7.65%

6.88%

13.05%

9.60%

16.60%

$35.40

$22.76

5

($ in millions, except per share data)

Results Reflect Difficult Operating Environment

Income Statement Highlights

III.

FINANCIAL

PERFORMANCE

Net Interest Income (FTE)

Provision for Credit Losses

Noninterest Income

Total Revenue (FTE)

Total Noninterest Expense

Total Noninterest Expense Excl Goodwill/Intangible Impairment

Charges Other Than MSRs¹

Pre-Tax Loss

Benefit for Income Taxes

Preferred Dividends

Net Loss Available to Common Shareholders

Net Loss Available to Common Shareholders

Excluding Goodwill Charge Other Than MSRs, After Tax¹

Net Loss Per Average Common Diluted Share

Net Loss Per Share Excl Goodwill Charge Other Than             

MSRs, After Tax¹

% Change          % Change         

1Q 2010               4Q 2009             1Q 2009 

1.

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

$1,202

862

698

1,900

1,361                                                            

1,361

(355)

(194)

68

(229)

(229)

(0.46)

(0.46)

-

(12)%

(6)%

(3)%

(6)%

(6)%

31%

26%

-

28%

28%

28%

28%

10%

(13)%

(38)%

(14)%

(37)%

(3)%

63%

(29)%

(4)%

74%

(43)%

82%

-

6

($ 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

1

Noninterest-Bearing Deposits

NOW Accounts

Money Market Accounts

Savings

Consumer Time

Other Time

Total Consumer and Commercial Deposits       

Brokered and Foreign Deposits

Total Deposits

1Q 2010

4Q 2009

4Q 2009

1Q 2009

Annualized

% Change

III. FINANCIAL PERFORMANCE

1.

Excludes $7 billion of nonaccrual and restructured loans

Loan Demand Remained Weak; Deposit Mix Improved Further

$33,094

15,157

4,078

26,970                              

15,105

5,254

6,697

1,067           

$107,422

$24,520                              

25,593        

36,250

3,856         

14,417     

10,448

115,084       

3,433       

$118,517

5%

(7)%

(57)%

(6)%

(7)%

14%

4%

29%           

(3)%

(8)%

(12)%        

23%

4%         

(29)%      

(49)%

(7)%       

(133)%       

(12)%

(16)%

(5)%

(45)%

(10)%

(2)%

2%

1%

10%           

(11)%

7%

20%        

24%

12%         

(16)%      

(22)%

7%       

(54)%       

3%

1%

(2)%

(14)%

(2)%

(2)%

4%

1%

7%

(1)%

(2)%

(3)%

6%

1%

(7)%

(12)%

(2)%

(33)%

(3)%

7

U.S. Treasury

U.S. Agency

U.S. States and Subdivisions

MBS –

Agency

MBS –

Private

Corporate & Other

Asset –

Backed Securities

Other Equity

Total AFS

High Quality Securities Portfolio

1Q 2010                                4Q 2009            

$ Change

Securities Available for Sale

($ in millions, period end balances)

Securities Portfolio

III. FINANCIAL PERFORMANCE

$5,206

2,001

916

13,711

369

509

1,004

2,523

$26,239

$5,177

2,738

945

15,916

378

511

315

2,497

$28,477

$29

(737)

(29)

(2,205)

(9)

(2)

689

26

$(2,238)

8

2.87%

2.94%

3.10%

3.27%

3.32%

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

Margin Remained Stable

•

The small sequential increase in

margin was driven mainly by

day count as improved deposit

pricing was largely offset by

lower securities yields

•

Margin expected to remain

relatively stable during 2010 in a

range around 3.25%

Net Interest Margin

III. FINANCIAL PERFORMANCE

9

($ in millions)

Provision Expense Declined; ALLL Increased to 2.80% of Loans

Provision For Credit Losses

III. FINANCIAL PERFORMANCE

Provision

for

Credit

Losses¹

Net Charge-offs

Net Charge-off Ratio

Net

ALLL

Increase²

Allowance

to

Loan

Ratio²

$994

$610

1.97%

$384

2.21%             

1Q

2010

4Q

2009

3Q

2009

2Q

2009

1Q

2009

$962

$801

2.59%

$161

2.37%             

$1,134

$1,006

3.33%

$128

2.61%             

1.

1Q

2010

includes

the

impact

of

a

$15

million

reduction

in

unfunded

commitment

reserves.

4Q

2009

includes

$57

million

in

provision

for

unfunded

commitments

that

increased

the

reserve

to

$115

million

as

of

12/31/09.

This

expense

was

recorded

in

Other

Expense

prior

to

4Q

2009

(see

appendix

for

prior

period

amounts)

2.

Does

not

include

unfunded

commitment

reserves

$974

$821

2.83%

$96

2.76%

$862

$821

2.91%

$56

2.80%

10

Noninterest Income   

Net

Adjustments

1

Adjusted

Noninterest

Income

2

($ in millions)

Noninterest Income Remained Cyclically Soft; Mortgage-Related Revenue Improved Sequentially

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 2010      4Q 2009        1Q 2009        4Q 2009     1Q 2009

$742

30 

$712

$1,121

98 

$1,023

$698

(42) 

$740

(6)%

4%

(38)%

(28)%

11

Vintages of repurchase requests slowly

shifting to more recent production²…

…due to lower new request volume and

a reduced inventory of pending requests¹

…that has a lower risk profile

0

20

40

60

80

100

120

140

4Q 2008

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

New Requests (4Q 2008 = 100)

Pending requests (4Q 2008 = 100)

Losses declined and reserves stable…

0%

10%

20%

30%

40%

50%

60%

70%

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

2006 & Prior

2007

2008 & 2009

1.

Indexed

view

of

quarterly

new

repurchase

requests

and

quarter-end

pending

request

population

with

4Q

2008

values

equal

to

100 

2.

Percent

of

each

quarter’s

repurchase

request

by

vintage;

totals

100%

each

quarter

3.

Percent

of

outstanding

unpaid

balance

by

vintage;

totals

100%

III. FINANCIAL PERFORMANCE

Mortgage Repurchase Trends

96%

100%

68%

66%

Full Doc

%

68%

67%

762

769

0%

0%

49%

2%

2008 & 2009

2010

77%

716

5%

23%

2007

74%

712

25%

26%

2006 & prior

Avg Orig

LTV %

Avg

FICO

Alt-A

%

Unpaid

Bal³

%

1Q 2009   2Q 2009   3Q 2009   4Q 2009   1Q 2010  

Beginning Balance

92

93

92

123

200

Additions

26

63

136

220

128

Charge-offs

(25)

(64)

(105)

(143)

(118)

Ending balance

93

92

123

200

210

($ in millions)

12

Expense Results

Noninterest Expense

Net

Adjustment¹

Adjusted Noninterest Expense

Expense Analysis

Total Adjusted Incr/(Decr)

Credit-Related

Costs²

FDIC                                                             

Pension                                                          

Subtotal of Expense Drivers

Net Expense

Controllable Expenses Well Managed; Impact of Economically Cyclical Expenses Declined

1.

Adjustment

detail

included

in

appendix

2.

Includes

operating

losses,

credit

and

collections,

other

real

estate

expense,

additions

to

mortgage

re-insurance

reserves

but

does

not

include

additional

personnel

expense

related

to

credit

administration

or

default

management.

Unfunded

commitment

reserve

costs

recorded

in

provision

for

credit

losses

beginning

4Q

2009

Change

1Q 2010             4Q 2009            1Q 2009

4Q 2009

1Q 2009

% 

($ in millions)

Noninterest Expense

III. FINANCIAL PERFORMANCE

$                       

Change

$1,454

38

$1,416

174

60

30

$2,152

726

$1,426

188

47

39

$1,361

(1)

$1,362

143

64

13

(6)%

(4)%

$(54)

(31)

4

(17)

(44)

$(10)

(37)%

(5)%

$(64)

(45)

17

(26)

(54)

$(10)

13

Asset Quality Metrics

IV. RISK REVIEW

Overall, Asset Quality Continued to Improve

1.

Excludes reserve for unfunded commitments of $100 million in 1Q 2010, $115 million in 4Q 2009 and $58 million in 3Q 2009

2.

Includes $(15) million provision for unfunded commitment reserves in 1Q 2010 and $57 million in 4Q 2009

3.

Q1 2010 includes $160 million in LHFS nonaccruals

`

1Q 2010

4Q 2009

3Q 2009

1Q10 vs

4Q09

4Q09 vs

3Q09

Total Loans at End of Period

$113,979

$113,675

$116,488

$305

-$2,813

Allowance

for

Loans

&

Lease

Losses

1

3,176

3,120

3,024

56

96

Net Charge-offs

821

821

1,006

0

-185

Provision

Expense

2

862

974

1,134

-112

-160

NPAs

3

6,043

6,101

6,095

-58

6

NPLs

to Total Loans

4.55%

4.75%

4.67%

-0.20%

0.08%

NPAs

to

Total

Loans

+

OREO/OA

3

5.26%

5.33%

5.20%

-0.07%

0.13%

ALLL to Loans

2.80%

2.76%

2.61%

0.04%

0.15%

NCOs (annualized to Average Loans)

2.91%

2.83%

3.33%

0.08%

-0.50%

30-89 Days Past Due

1.19%

1.37%

1.52%

-0.18%

-0.15%

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ;----------------

14

Loan Portfolio

IV. RISK REVIEW

1. Consumer -

Direct includes approximately $3.4 billion of federally guaranteed student loans

Early Stage Delinquency Improvement Continued; Net Charge-offs Remained Stable

Balance

% of

Balance

% of

C/O Ratio

C/O Ratio

30-89

DLQ%

30-89 DLQ%

($ in millions)

03/31/2010

Portfolio

12/31/2009

Portfolio

1Q10

4Q09

1Q10

4Q09

Commercial

$33,393

29%

$32,494

29%

1.13%

1.14%

0.26%

0.25%

Commercial Real Estate

15,262

13%

15,074

13%

0.08%

0.06%

0.73%

0.77%

Consumer

-

Direct

1

5,369

5%

5,118

4%

0.92%

0.96%

4.06%

5.09%

Consumer -

Indirect

6,678

6%

6,531

6%

0.98%

1.50%

0.88%

1.52%

Credit Cards

1,040

1%

1,068

1%

10.48%

8.51%

2.79%

3.09%

Real Estate Home Equity Lines

15,676

14%

15,953

14%

4.11%

3.91%

1.23%

1.36%

Real Estate 1-4 Family

30,805

27%

30,790

27%

5.57%

4.35%

1.88%

2.18%

Real Estate Construction

5,756

5%

6,647

6%

6.30%

11.38%

1.37%

1.09%

Total

$113,979

100%

$113,675

100%

2.91%

2.83%

1.19%

1.37%

15

1.  Excludes $19 million of mark-to-market loans held for sale in 1Q 2010 and $55 million for 4Q 2009.

2. Does not include nonaccruals

3. GNMA  repurchases are FHA guaranteed loans that were repurchased  from GNMA securities

Residential Mortgages $30,805

Residential Mortgages

IV. RISK REVIEW

Core Portfolio Asset Quality Improved

($ in millions)

Portfolio Profile

Credit Quality Metrics

Loan Type

03/31/10

Balance

12/31/09

Balance

03/31/2010           

$ Nonaccruals

1

12/31/2009            03/31/10    

$ Nonaccruals

1

60+ DLQ

2

12/31/09    

60+ DLQ

2

Core Portfolio

$23,794

$23,914

$1,773

$1,955

1.54%

1.82%

Home Equity Loans

1,894

1,988

64

61

0.95

0.92

Prime 2

nd

2,772

2,904

80

90

2.12

2.47

Lot Loans

1,032

1,087

261

271

2.68

3.00

Alt-A 1

st

630

691

209

250

4.81

4.38

Alt-A 2

nd

190

206

30

34

5.99

7.93

GNMA Repurchases

3

493

-

-

-

-

-

Total

$30,805

$30,790

$2,417

$2,661

1.70%

1.96%

($ in millions)

16

Home Equity Lines $15,676 

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

03/31/10

Balance

% of

Total

12/31/09

Balance

1Q 10

Charge-off

4

%

4Q 09

Charge-off

4

%

1Q 10

Nonaccrual

%

4Q 09

Nonaccrual

%

3rd

Party

Originated

$1,504

10%

$1,566

11.84%

12.02%

3.91%

3.93%

CLTV > 80%

1

(Florida)

1,724

11

1,789

8.70

8.84

3.27

3.63

CLTV > 90%

2

1,518

9

1,559

3.74

4.01

1.69

1.46

Core Portfolio

3

10,930

70

11,039

2.43

2.05

1.36

1.31

Total

$15,676

100%

$15,953

4.11%

3.91%

1.82%

1.81%

Home Equity Lines

IV. RISK REVIEW

Balances Declined; Asset Quality Stable

($ in millions)

17

1. Annualized first quarter net charge-off ratio

($ in millions)

Aggressive Reduction in Portfolio Continued

Construction $5,756

Portfolio Profile

Credit Quality Metrics

Type

03/31/10

Balance

12/31/09

Balance

1Q 09

%

FL

1Q 10

C/O

1

%

$

NPLs

FL

NPLs

%

1Q 10

30 +

DLQ

4Q 09

30 +

DLQ

Construction Perm

$690

$826

26%

20.38%

$215

35%

5.42%

5.79%

Residential

Construction

1,106

1,213

30

5.15

486

36

0.85

1.39

Residential A&D

1,135

1,314

21

9.17

541

21

2.08

1.32

Residential Land

444

470

38

10.59

142

44

0.77

0.92

Commercial

Construction

1,514

1,893

18

0.62

111

39

0.29

0.62

Commercial A&D

374

456

23

1.60

48

33

4.00

0.57

Commercial Land

493

475

30

2.50

42

21

2.18

2.36

Total

$5,756

$6,647

24%

6.30%

$1,585

31%

1.81%

1.68%

IV. RISK REVIEW

Construction

18

Nonperforming Loan Actions

Incremental Charge-offs Recorded on Residential Mortgage NPLs Aged Greater Than 12 Months;

Small Portfolio of Mortgage NPLs Transferred to Held-For-Sale

IV. RISK REVIEW

1.

Represents

charge-offs

on

1

lien

residential

mortgage

loan

NPLs

related

to

lower

property

values

on

loans

residing

in

NPL

status

for

greater

than

12

months

2.

Includes $63 million in Condo loans within Alt-A, Jumbo and other categories

($ in millions)

Nonperforming Loan Flows

NPL Held-For-Sale Portfolio

1Q 2010

4Q 2009

Beginning Balance

Less:

Base Charge-offs

Mortgage Policy Change

1

HFS Transfer

Charge-off     

Total Charge-offs                          

Transfer to HFS

Plus:

Net NPL Flow

Ending Balance

HFS Charge-offs

Previous Charge-offs

HFS Balance

Unpaid Principal Balance

Florida

California

24

Other                           

115

Total

Alt-A

67

Jumbo

147

Other

146

Total²

$             %

14%

42%

44%

100%

19%

41%

40%

100%

$51

149

160

360

61%

7%

32%

100%

$360

$5,402

(639)

(131)          

(51)

(821)                           

(160)

764

$5,185

$5,444

(821)

-

-

(821)

-

779

$5,402

221

360

st

19

TDR Trends

IV. RISK REVIEW

Pace

of

Mortgage

Modifications

Slowed;

95%

of

Growth

Occurred

in

Accruing

TDRs

$1,477

$2,021

$2,553

($ in millions, period end balances)

$2,835

$925

$1,344

$1,641

$1,908

$552

$677

$912

$927

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

Q2 2009

Q3 2009

Q4 2009

Q1 2010

Accruing TDRs

Nonaccruing TDRs

20

TDR Composition and Performance

IV. RISK REVIEW

Accruing TDRs

Non-Accruing TDRs

Total TDRs

Payment

Status

03/31/10

Balance

% of

Total

03/31/10

Balance

% of

Total

03/31/10

Balance²

% of

Total

Current

$1,682

88%

$400

43%

$2,082

73%

30 DPD

125

7

90

10

215

8

60 DPD

70

4

67

7

137

5

90 DPD

29

1

54

6

83

3

120+ DPD

3

<1

316

34

319

11

Total¹

$1,908

100%

$927

100%

$2,835

100%

88% of Accruing TDRs are Current on Principal and Interest Payments and 73% of Total

TDRs are Current

($ in millions)

1.

Totals may not foot due to rounding

2.

Excludes $35 million of non-accruing TDRs in Mortgage loans held for sale

21

Credit Summary 

IV. RISK REVIEW

•

Overall, asset quality improved

•

Early stage delinquencies and NPLs declined, while net charge-offs and NPAs were stable

•

Improvements in base charge-offs and delinquencies were broad-based among the

portfolios

•

Balances

continued

to

decline

and

asset

quality

metrics

improved

in

our

consumer

residential real estate portfolios

•

$182 million of first quarter charge-offs attributable to change in internal policy for aged

residential mortgage NPLs and NPLs transferred to held-for-sale

•

Pace of mortgage modifications slowed in the quarter; 73% of total TDRs are current

•

Charge-offs in the second quarter are currently expected to be stable to down compared to

the first quarter.  The run-rate of base charge-offs is expected to be stable to slightly up

depending primarily on the pace of improvement in consumer portfolios and the

completion of workouts in the construction portfolio

22

EPS Improved Sequentially

Elevated Credit Costs

Revenue Cyclically Soft

Slowed Pace of Loan Decline

DIFFICULT BUT IMPROVED

OPERATING ENVIRONMENT

CONTINUED POSITIVE

TRENDS

Improved Asset Quality

Solid Capital Position

Favorable Deposit Mix 

Expanded Margin

Well Managed Expenses

First Quarter Highlights

V. CONCLUSION

23

Appendix

24

($ in millions)

Total Noninterest Income

Securities Gains/(Losses)

Fair

Market

Write-downs

–

Trading                   

STI Debt Valuation-Trading

Fair

Value

Write-downs

–

Mortgage

Production   

Auction Rate Securities –

Trading      

LOCOM

MSR

(Impairment)/Recovery

–

Mtg

Svcing

Net Adjustments

Adjusted Noninterest Income

Noninterest Income Reconciliation

VI. APPENDIX

%                   %

Change        Change

1Q

2010

4Q

2009

1Q

2009

4Q

2009

1Q

2009

(6)%

4%

(38)%

(28)%

$698

2

(23)

(20)

(8)

7

-

(42)

$740

$742

73

(5)

(38)

(8)

(3)

11

30

$712

$1,121

3

(32)

113

(16)

(1)

31

98

$1,023

25

Total Noninterest Expense

Goodwill Impairment

AHG Write-down (Other Expense)

Net Loss/(Gain) on Debt Extinguishment

Visa Contract Termination

Net Adjustments

Adjusted Noninterest Expense

Change

1Q 2010        4Q 2009        1Q 2009

4Q 2009

1Q 2009

%

($ in millions)

Noninterest Expense Reconciliation

VI. APPENDIX

$1,454

-

14

24

-

38

$1,416

(6)%

(4)%

(37)%

(4)%

$1,361

-

-

(9)

8

(1)

$1,362

$2,152

751

-

(25)

-

726

$1,426

26

Noninterest Income

Mortgage Repurchase Losses

FV MSR Hedging-Trading

FV MSR Hedging-Mortgage Servicing

Noninterest Expense

Unfunded

Commitment

Reserve

(Other

Exp)¹

Mortgage Reinsurance

Operating Losses

Credit & Collections

Other Real Estate

Total Credit-Related

Additional Noninterest Income and Expense Disclosures

VI. APPENDIX

$

Change 

1Q 2010         4Q 2009        1Q 2009          4Q 2009

1Q 2009

($ in millions)

$(128)

-

-

-

9

14

74

46

$143

$92

-

-

-

(1)                          

(12)

(2)

(16)

$(31)

$(220)

-

-

-

10                              

26

76

62

$174

$(26)

(19)

19

3

70

23

48

44

$188

$(102)

(19)

19

(3)

(61)

(9)

26

2

$(45)

1.  Unfunded commitment reserve expense recorded in provision expense prospectively beginning in 4Q 2009

27

(As of 03/31/10, $ 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 $64 million, $19 million of mark-to-market loans held for sale and $92 million of residential real estate loans managed on commercial  system

4. Insurance reserve is nearly exhausted; future loss severity is expected to be 100%

Nonaccruals that have been through the

specific write-down process

Loan

Type

Balance

before

write-

down

-

Amount  

of write-

down

=

Non     

accruals with               accruals

write-down

+

Non 

not

requiring

write-down²

+

Non 

accruals

without   

specific

write-down  

=

Total

Non 

accruals³

% Loss

Severity

Core

Portfolio

$1,303

$(505)

$798

$277

$606

$1,681

32.0%

Prime

2

nd

394

(394)

--

25

55                

80

94.0%

4

Lot

Loans

361

(203)

159

55

48

261

48.7%

Alt-A 1

st

159

(64)

95

24

91

209

35.2%  

Alt-A 2

nd

113

(101)

12

--

19

30

89.4%

Total

$2,330

$(1,267)

$1,063

$380

$818

$2,261

Residential Mortgage

Nonaccrual Balances Decreased; 64% of Nonaccruals Have Been Through the Write-Down

Process

(1)

VI. APPENDIX

28

VI. APPENDIX

($ in millions, except per share data)

Reconciliation of Non GAAP Measures

March 31

December 31

September 30

June 30

2010

2009

2009

2009

Total shareholders' equity               

$22,620

$22,531

$22,908

$22,953

Goodwill, net of deferred taxes                    

(6,202)

(6,204)

(6,205)

(6,213)

Other intangible assets including MSRs, net of deferred taxes

(1,761)

(1,671)

(1,560)

(1,468)

MSRs

1,641

1,539

1,423

1,322

Tangible equity             

16,298

16,195

16,566

16,594

Preferred stock

(4,923)

(4,917)

(4,911)

(4,919)

Tangible common equity

$11,375

$11,278

$11,655

$11,675

Total assets                

$171,796

$174,165

$172,718

$176,735

Goodwill                

(6,323)

(6,319)

(6,314)

(6,314)

Other intangible assets including MSRs

(1,800)

(1,711)

(1,604)

(1,517)

MSRs

1,641

1,539

1,423

1,322

Tangible assets                

$165,314

$167,674

$166,223

$170,226

Tangible equity to tangible assets              

9.86%

9.66%

9.96%

9.75%

Tangible common equity to tangible assets

6.88%

6.73%

7.01%

6.86%

Tangible book value per common share

$22.76

$22.59

$23.35

$23.41

Three Months Ended

29

VI. APPENDIX

Reconciliation of Non GAAP Measures

($ in millions, except per share data)

March 31

December 31

March 31

2010

2009

2009

Total

noninterest

expense

$1,361

$1,454

$2,152

Goodwill/intangible

impairment

charges

other

than

MSRs

-

-

751

Total

noninterest

expense

excluding

goodwill/intangible

impairment

charges

other

than

MSRs

1

$1,361

$1,454

$1,401

Net loss

($161)

($248)

($815)

Goodwill/intangible

impairment

charges

other

than

MSRs,

after

tax

-

-

724

Net

loss

excluding

goodwill/intangible

impairment

charges

other

than

MSRs,

after

tax

1

($161)

($248)

($91)

Net

loss

available

to

common

shareholders

($229)

($316)

($875)

Goodwill/intangible

impairment

charges

other

than

MSRs

attributable

to

common shareholders, after tax

-

-

715

Net

loss

available

to

common

shareholders

excluding

goodwill/intangible

impairment

charges

other

than

MSRs,

after

tax

1

($229)

($316)

($160)

Net

loss

per

average

common

share,

diluted

($0.46)

($0.64)

($2.49)

Impact

of

excluding

goodwill/intangible

impairment

charges

other

than

MSRs

attributable

to common shareholders, after tax

-

-

2.03

Net

loss

per

average

diluted

common

share,

excluding

goodwill/intangible

impairment

charges

other

than

MSRs,

after

tax

1

($0.46)

($0.64)

($0.46)

Net loss     

($161)

($248)

($815)

Preferred dividends, Series A

(2)

(2)

(5)

U.S. Treasury preferred dividends and accretion of discount

(66)

(66)

(66)

Dividends and undistributed earnings allocated to unvested shares

-

-

11

Gain on purchase of Series A preferred stock

-

-

-

Net loss available to common shareholders

($229)

($316)

($875)

Three Months Ended