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