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) December 7, 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 7.01 Regulation FD Disclosure.

SunTrust Banks, Inc. (the “Registrant”, “SunTrust”, or the “Company”) is scheduled to make a presentation at the Goldman Sachs U.S. Financial Services Conference on Tuesday, December 7, 2010 at 11:10AM Eastern Time. James M. Wells III, Chairman and Chief Executive Officer, will make SunTrust’s presentation. A copy of the slide package to be used by the Registrant at this conference is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. Such slide package will also be available on the Registrant’s web site at www.suntrust.com. Information contained on the Registrant’s website expressly is not incorporated by reference into this Current Report on Form 8-K.

The information in the preceding paragraph, as well as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), 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 Section 7.01 of this Current Report on Form 8-K. All information in the slide package speaks 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 7.01 of this report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Slide package to be presented on December 7, 2010 (furnished with the Commission as a part of this Current Report on 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: December 7, 2010.	By:	/s/ David A. Wisniewski
		David A. Wisniewski,
		Associate General Counsel and Group Vice President

EX-99.1

SunTrust Banks, Inc.

Goldman Sachs US Financial Services Conference

December 7, 2010

James M. Wells III

Chairman & CEO

Exhibit 99.1

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 Form10-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 may contain forward-looking statements. 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,”

“goals,”

“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. Our statements speak as of the date

hereof, and we do not assume any obligation to update these statements 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: our expense for regulatory assessment may increase as a result of the passage of the Dodd-Frank Reform Act; 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 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.

2

•

Diversify the balance

sheet

•

Optimize business mix

•

Improve expense

efficiency

•

Grow market share

Investment Thesis

Large Diversified Franchise

•

High market share in attractive

growth markets

•

Diversified business and product

mix

Growth Strategies

Stable Base Provides Solid Foundation for Future Growth

•

Diversified credit profile

•

Improved credit trends

•

Enhanced risk profile

Improved Results and Capital

Structure

Strengthened Credit and Risk

Profile

•

Improved core results

•

Funding mix improved

with large, stable deposit

base

•

Solid capital ratios

3

1.

Source: SNL Financial, as of 6/30/2010 based on MSAs

2.

As of 9/30/2010

3.

Source: SNL Financial---projected household income change, 2010-2015, MSA + counties not in any MSA, at 10/12/2010

4.

Source: SNL Financial---five-year population growth, 2010-2015, MSA + counties not in any MSA, at 10/12/2010

Attractive Geographic Profile In Higher Growth Markets

0.7%

1.1%

2.0%

2.2%

2.9%

3.3%

3.7%

3.9%

4.7%

5.6%

5.7%

6.1%

MTB

PNC

CMA

KEY

FITB

MI

COF

USB

RF

BBT

WFC

STI

U.S. Average Growth:

3.9%

•

Ranked top 3 in 21 of the top 25 SunTrust markets

–

Top 25 represents 85% of total MSA deposits

–

Top 25 average deposit market share is 14%

•

1,670 branches serving communities with attractive overall growth

prospects

•

Projected household income growth is above the U.S. average

Best Footprint in Banking

1

2

3

SunTrust

Footprint

Projected

Population

Growth

4

4

Diversified Business and Product Mix

Well Diversified Business and Product Mix

Total

Revenue,

Nine

Months

Ended

9/30/2010

43%

14%

11%

11%

10%

8%

3%

Retail Banking

Wealth and Investment Management

Corporate and Investment Banking

Mortgage

Diversified Commercial Banking

Corporate Other and Treasury

Commercial Real Estate

5

Diversified Business Mix

Retail  Banking

Scope       

of

Operations

Market

Focus

1.

As of 9/30/10

•

Footprint

•

1,670 branches

•

2,928 ATMs

•

Consumer lending

•

Small business

•

Retail clients in

SunTrust footprint

•

Business clients

with <$5MM in

revenue (<$10MM

in major markets)

Helping People Prosper

•

Primarily footprint

•

Full array of wealth

management

products and

professional

services to national,

individual and

institutional clients

•

AUA = $196B

•

Individuals and

families in need of

private wealth

management

•

Organizations in

need of

administrative and

investment

solutions

Wealth and

Investment

Management

•

National

•

Residential

mortgages

•

Mortgage servicing

portfolio of $177B

•

Prime-based

platform; ~98% of

3Q 2010

originations for sale

were agency

•

50% of production in

3Q 2010 was retail

originated

Mortgage

1

1

1

1

6

Diversified Business Mix

Commercial Real

Estate

Scope       

of

Operations

Market

Focus

•

Footprint

•

Full line of banking

and capital markets

services

•

Commercial real

estate developers

and investors

•

Class A,

institutional grade

properties

Helping Institutions Prosper

•

Primarily footprint

•

Full line of lending,

capital markets,

commercial card,

treasury and payment

solutions

•

Commercial: $5MM-

$100MM in revenue

•

Middle Market:               

$100MM-$750MM in

revenue

•

Not-for-Profit &

Government Entities

•

Asset Based

Lending and

Leasing

Diversified

Commercial Banking

Corporate and

Investment Banking

•

National with focus

on selected industry

sectors

•

Full line of traditional

banking and capital

markets services

•

Large Corporate:

>$750MM in

revenue

•

Capital markets

services for

Commercial,

Middle Market and

CRE clients

7

Diversified Portfolio

Loan

Portfolio

9/30/2010:

$115,055

Loan Portfolio is Well Diversified by Geography and Product Type

1. Includes Consumer Direct, Consumer Indirect, and Credit Card

1

($ in millions)

Note: Geographic distribution excludes $1.0 billion credit card portfolio, approximately $4.4 billion in student loans and $1.0 billion of indirect loans

25%

17%

13%

8%

8%

7%

3%

19%

Florida

Georgia

Virginia

North Carolina

Maryland

Tennessee

South Carolina

Outside of Footprint

28%

28%

14%

13%

13%

4%

Commercial

Residential Mortgage

Consumer

Home Equity Lines

Commercial Real Estate

Construction

8

Diversified Portfolio

Net Charge-Offs 3Q 2010: $690

Asset Quality Issues Remain Concentrated in Residential Real Estate Related Portfolios

1. Includes credit card portfolio which had net charge-offs of $18 million

Nonaccrual Loans 9/30/2010: $4,373

1

($ in millions)

9%

45%

5%

18%

6%

17%

Commercial

Residential Mortgage

Consumer

Home Equity Lines

Commercial Real Estate

Construction

7%

44%

1%

7%

11%

30%

Commercial

Residential Mortgage

Consumer

Home Equity Lines

Commercial Real Estate

Construction

9

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

Construction

Prime 2nd

Home Equity

Loans

Lot Loans

Alt-A

High LTV

Broker Originated

12/31/2008

09/30/2010

Higher Risk Segment Loan Balances Reduced Nearly 40%

55%

Residential Mortgage

Home Equity Lines

Loan

Balances

34%

32%

38%

40%

15%

25%

Construction

($ in millions, period end balances)

Higher Risk Portfolio Segments Significantly Reduced

10

$539

$756

$690

$644

$521

$532

$588

$728

$2,300

$2,186

$1,897

$1,771

$1,553

$1,344

$1,404

$1,400

4Q 2008

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

2Q 2010

3Q 2010

90 DPD Loans

30-89 DPD Loans

$2,839

$2,942

$2,587

$2,415

$2,074

$1,876

$1,992

Delinquencies

Delinquencies Have Continued to Trend Down Excluding Student Loans

$2,128

1.

Excludes Federally guaranteed GNMA repurchases

2.

Student

loan

portfolio

30+

DPD

increased

$327

million

in

3Q

2010

as

compared

to

1Q

2010;

approximately

91%

of

the

student

loan

portfolio

is

government

guaranteed

Delinquencies

($ in millions)

$74 Million 

Decrease in Total

Delinquencies

Excluding Student

Loans

1

2

11

$3,940

$4,641

$5,504

$5,444

$5,402

$5,185

$4,699

$4,373

$516

$606

$661

$651

$699

$858

$764

$696

4Q 2008

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

2Q 2010

3Q 2010

NPL

OREO

Nonperforming Loans and Assets

Nonperforming Loans are Down 20% From Their 2Q 2009 Peak

$4,456

$5,246

$6,165

$6,095

$6,101

$6,043

$5,463

$5,069

1.

Includes OREO and other repossessed assets; Q1 2010 also includes $160 million of nonperforming loans held for sale

1

Nonperforming Assets

($ in millions)

12

Allowance for Loan and Lease Losses

Increased Reserve Levels

1.50%

2.00%

2.50%

3.00%

$2,000

$2,200

$2,400

$2,600

$2,800

$3,000

$3,200

$3,400

4Q 2008

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

2Q 2010

3Q 2010

ALLL

Loan Coverage Ratio

Allowance

for

Loan

and

Lease

Losses

($ in millions)

13

Net Charge-Offs and Loan Coverage Ratios

The Loan Coverage Ratio Exceeds the Net Charge-Off Ratio

1.50%

2.00%

2.50%

3.00%

3.50%

4Q 2008

1Q 2009

2Q 2009

3Q 2009

4Q 2009

1Q 2010

2Q 2010

3Q 2010

NCO Ratio

Loan Coverage Ratio

14

$(500)

$(400)

$(300)

$(200)

$(100)

$-

$100

$200

3Q 2009

4Q 2009

1Q 2010

2Q 2010

3Q 2010

Improved Results

Profitable in 3Q 2010, Operating Trends Are Encouraging

Net Income/(Loss) Available to Common Shareholders

$(377)

$(316)

$(229)

$(56)

$84

($ in millions)

15

$167 Billion

September 30, 2010

Large, Stable Deposit Base Primary Source of Liquidity

1. Includes Fed Funds, Repos, and other short-term borrowings

Diversified Sources of Funding

$172 Billion

December 31, 2008

Core Deposits 61%

Other Deposits 5%

Short-Term Borrowings  5%

Long-Term Borrowings 16%

Capital 13%

Core Deposits 70%

Other Deposits 2%

Short-Term Borrowings  5%

Long-Term Borrowings 9%

Capital 14%

1

1

16

Increasing Tier 1 Common Ratio

Capital Ratios

17

•

Diversify the balance sheet

•

Optimize business mix

•

Improve expense efficiency

•

Grow market share

Investment Thesis

Growth Strategies

Stable Base Provides Solid Foundation for Future Growth

18

$100

$117

2006

3Q 2010

Client Deposits

Balance Sheet Diversity

•

High quality securities

portfolio increased due to

strong liquidity

and 4Q

2009 addition of $5 billion

U.S. Treasury securities

held for TARP repayment

($ in billions, period end balances)

Used Increased Liquidity to Increase Securities Portfolio and Reduce Higher Cost Funding and Long-Term Debt

•

Increase in client deposits

enabled a significant

reduction in brokered and

foreign deposits

•

Repayment of over $7

billion in FHLB advances

in 2009 and over $1

billion

in 2010

+17%

+20%

-88%

-21%

$24

$3

2006

3Q 2010

Brokered and Foreign Deposits

$25

$30

2006

3Q 2010

Securities Available for Sale

$19

$15

2006

3Q 2010

Long-Term Debt

19

Business Mix Optimization

Increased Diversification Expected From Planned Growth in Commercial and Consumer Loans

While Managing Real Estate Exposure

Targeted Areas For Growth

Commercial-Related Lending

•Asset-Based Lending

•Middle Market

•Commercial

•CIB

Consumer-Related Lending

•Credit Card

•Private Wealth Management

•Indirect Auto

(As of 9/30/2010, period end balances)

Note:  Consumer-Related includes Consumer Direct, Consumer Indirect, and Credit Card;  Residential Real Estate-Related includes  Residential Mortgages,

Home Equity Lines, Residential Construction Loans, and Construction Perm Loans; CRE-Related includes  Commercial Real Estate Loans and Commercial

Construction  Loans 

Commercial-

Related

28%

Consumer-

Related

14%

Residential

Real Estate-

Related

43%

CRE-Related

15%

20

Expense Efficiency Focus

1.

Includes approximately 1,500 positions transitioned to a third party provider contracted for certain check and related processing operations

2.

Appendix includes reconciliation of non-GAAP numbers and details of adjustments and cyclical expenses

Expense Savings Enabled Continued Investment in the Business While Keeping Core Expenses Flat

+35%

-17%

FLAT

33,599

28,001

2006

2009

FTE

Total Expenses

$4,609

$4,605

2006

2009

Expenses Excluding Adjustments

and

Cyclical Expenses

$4,867

$6,562

2006

2009

($ in millions)

1

2

21

Mission and Values

SunTrust’s Mission is Supported by a Core Set of Principles Which Underlie the Corporate Strategies

One Team

Client First

Focus on

Profitable Growth

We accomplish this by focusing on three principles:

We know that highly engaged teammates drive client loyalty and that leads to

primary relationship growth

Our mission is to help people and institutions prosper

Actions Taken Along the Path Are Leading to Market Share Growth

Market Share Growth: Path to Success

•

Investing in

training and

development

•

Conducting

teammate

surveys to better

understand

engagement

•

Continuing to

develop        

client-centric

experiences that

drive loyalty

•

Continuing to

develop

enterprise-wide

service excellence

program

•

Developing new

performance

management

program that

better aligns

with goals

•

Holistically

serving the

needs of

consumers and

business owners

•

Tailoring

activities toward

new primary

relationship

packages

•

Continuing to garner

client feedback to

inform strategies

and drive greater

loyalty: calling 1,000

clients daily

•

Creating specific

competitive

strategies by

market

Market Share

Growth

22

23

1

1

2

2

Market Share Growth

Efforts to Grow Market Share Are Yielding Results

Household Growth

0.5%

1.2%

4.1%

4.3%

2009 US HH

Growth

2009 STI

Footprint HH

Growth

2009 STI Net HH

Growth

2010 STI

Annualized Net

HH Growth

•

Since the “Live Solid. Bank Solid.”

brand campaign began, SunTrust

has improved performance against

the competition on deposit and

household growth

•

According to a Gallup poll, SunTrust

clients showed the highest level of

satisfaction with efforts to inform them

about overdraft changes

•

Competitive studies indicate the

service in SunTrust branches

and call centers is the highest in

the

industry

–

beating

large

and

regional banks in service scores

1.

Source: 2008 & 2009 Nielsen Claritas Demographic Update

2.

Retail Banking checking households

24

•

Diversify the balance

sheet

•

Optimize business mix

•

Improve expense

efficiency

•

Grow market share

Investment Thesis

Large Diversified Franchise

•

High market share in attractive

growth markets

•

Diversified business and product

mix

Growth Strategies

Stable Base Provides Solid Foundation for Future Growth

•

Diversified credit profile

•

Improved credit trends

•

Enhanced risk profile

Improved Results and Capital

Structure

Strengthened Credit and Risk

Profile

•

Improved core results

•

Funding mix improved

with large, stable deposit

base

•

Solid capital ratios

SunTrust Banks, Inc.

Goldman Sachs US Financial Services Conference

December 7, 2010

James M. Wells III

Chairman & CEO

26

Appendix

27

1

2

($ in millions)

Reconciliation of Non-GAAP Measures

1.

Adjusted expense is provided as the removal of certain items that are material and potentially non-recurring is useful to investors and management in comparing institutions and in

evaluating expense trends

2.

Expense excluding adjustments and cyclical items is provided as it removes expenses that are recurring in nature, but higher in a recessionary cycle and is useful to investors and

management in assessing the impact of the recession on non-interest expenses and earnings, and facilitates analysis of the effectiveness of management in controlling expense growth

$

%

$

%

2009

2008

2006

2009 vs 2008

2009 vs 2008

2009 vs 2006

2009 vs 2006

Employees

28,001

29,333

33,599

(1,332)

(5)%

(5,598)

(17)%

Total Expenses

6,562

$     

5,879

$     

4,867

$     

683

$              

12%

1,695

$           

35%

Adjustment Items:

Impairment

751

45

-

(Gain)/Loss on Debt Retirement

39

12

12

Coke Charitable Contribution

-

183

-

Visa Litigation

7

(34)

-

Merger Expense

-

13

-

FDIC Special Assessment

78

-

-

  Total Adjustments

875

220

12

Adjusted Expenses

5,687

$     

5,659

$     

4,855

$     

28

$                

1%

832

$              

17%

Cyclical Items:

Regulatory Assessments

224

55

23

Credit & Collection Services

259

156

102

Other Real Estate

244

105

-

Mortgage Reinsurance

115

180

-

Operating Losses

100

446

45

Pension Expense

141

24

78

  Total Cyclical Expenses

1,083

966

247

117

12%

836

339%

Expenses Excl Adjustments & Cyclical

4,605

$     

4,693

$     

4,609

$     

(88)

$               

(2)%

(4)

$                  

0%