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)    January 21, 2011

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 January 21, 2011, SunTrust Banks, Inc. (the “Registrant”) announced financial results for the period ended December 31, 2010. A copy of the news release announcing such results 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 December 31, 2010 on January 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 January 21, 2011 (furnished with the Commission as a part of this Form 8-K).

99.2 Presentation materials dated January 21, 2011 (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: January 21, 2011.	By:	/s/ Thomas E. Panther
		Thomas E. Panther,
		Senior Vice President and Controller

EX-99.1

Exhibit 99.1

News Release                    

Contact:
Investors	Media
Kris Dickson	Mike McCoy
(404) 827-6714	(404) 588-7230

For Immediate Release

January 21, 2011

SunTrust Reports Fourth Quarter 2010 Results

Earnings of $0.23 per Share Driven by Solid Revenues and

Continued Improvement in Credit Quality

ATLANTA — SunTrust Banks, Inc. (NYSE: STI) announced today that solid revenues and further improvement in credit quality resulted in net income available to common shareholders of $114 million, or $0.23 per average common share, for the fourth quarter of 2010. This result compares favorably to a net loss of $248 million, or $0.64 per average common share, for the fourth quarter of 2009 and to earnings of $84 million, or $0.17 per common share, for the third quarter of 2010. For the year, SunTrust earned $189 million in net income before preferred dividends and reported a net loss to common shareholders of $0.18 per share, a significant improvement from the net loss per share of $3.98 reported for 2009.

“Our focus on serving our clients and managing our core businesses continues to drive better bottom line results at SunTrust,” said James M. Wells III, chairman and chief executive officer of SunTrust Banks, Inc. “We are pleased with the diversity of our revenue sources and the continued improvement in our credit quality. The Company continues to take advantage of opportunities in our markets and is well-positioned to benefit from a recovering economy.”

Fourth Quarter 2010 Financial Highlights

• Net income available to common shareholders was $0.23 per share, compared to earnings per share of $0.17 in the prior quarter and a loss of $0.64 per share in the fourth quarter of 2009.

• Net income before preferred dividends increased to $185 million, up $32 million from the third quarter.

• Total revenue was stable relative to the solid results reported in the third quarter. Net interest income increased primarily due to lower funding costs. Noninterest income declined modestly as higher market-sensitive revenue was offset by lower mortgage-related revenue.

• The net interest margin expanded to 3.44%, the seventh consecutive quarterly increase, and net interest income increased 7% from the fourth quarter of 2009.

• Noninterest expense increased compared to the prior quarter due largely to continued investments in people, technology, and marketing, as well as higher earnings-related compensation.

• Credit quality continued to improve with net charge-offs, nonperforming assets, and early stage delinquencies all declining.

• Provision for credit losses declined due to lower net charge-offs and the impacts that improved credit quality had on the allowance for loan losses. The allowance for loan losses was $3.0 billion, or 2.58% of total loans, down 11 basis points from the prior quarter.

• Average loans increased modestly over the prior quarter, as commercial and consumer loan growth more than offset the continued reduction in the higher-risk construction portfolio.

• Average customer deposits grew, and the favorable deposit mix trends continued; lower-cost deposits increased, while higher-cost time deposits declined.

• Capital ratios remained healthy and well above the recent Basel III guidance, with the estimated Tier 1 common equity ratio at 8.1%, the Tier 1 capital ratio at 13.7%, and the Tier 1 capital ratio excluding the TARP preferred stock at 10.0%.

	4th  Quarter 2010			3rd  Quarter 2010			4th  Quarter 2009			Full Year 2010			Full Year 2009
Income Statement
(Presented on a fully taxable equivalent basis) (Dollars in millions, except per share data)
Net income/(loss)	$	185		$	153		$	(248	)	$	189		$	(1,564	)
Net income/(loss) available to common shareholders		114			84			(316	)		(87	)		(1,733	)
Net income/(loss) per average common diluted share		0.23			0.17			(0.64	)		(0.18	)		(3.98	)
Total revenue – FTE		2,326			2,313			1,949			8,699			8,299
Total revenue – FTE, excluding net securities gains/losses		2,262			2,244			1,876			8,508			8,201
Net interest income – FTE		1,294			1,266			1,207			4,970			4,589
Provision for credit losses		512			615			974			2,651			4,064
Noninterest income		1,032			1,047			742			3,729			3,710
Noninterest expense		1,548			1,499			1,453			5,911			6,562
Net interest margin – FTE		3.44	%		3.41	%		3.27	%		3.38	%		3.04	%
Balance Sheet
(Dollars in billions)
Average loans	$	114.9		$	113.3		$	115.0		$	113.9		$	121.0
Average consumer and commercial deposits		119.7			117.2			117.0			117.1			113.2
Capital
Tier 1 capital ratio (1)		13.65	%		13.58	%		12.96	%
Tier 1 common equity ratio (1)		8.08	%		8.02	%		7.67	%
Total average shareholders’ equity to total average assets		13.49	%		13.42	%		12.86	%		13.25	%		12.70	%
Asset Quality
Net charge-offs to average loans (annualized)		2.14	%		2.42	%		2.83	%		2.51	%		2.67	%
Allowance for loan losses to period end loans		2.58	%		2.69	%		2.76	%
Nonperforming loans to total loans		3.54	%		3.80	%		4.75	%

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

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Consolidated Financial Performance

(Presented on a fully taxable-equivalent basis unless otherwise noted)

Revenue

Total revenue of $2.3 billion for the fourth quarter of 2010 was essentially flat on a sequential quarter basis as higher net interest income was partially offset by a slight decline in noninterest income. Declines in mortgage-related income were largely offset by higher trading income, primarily due to more favorable mark-to-market impacts. Compared to the fourth quarter of 2009, total revenue increased 19% on higher net interest income and noninterest income, particularly mortgage and capital markets-related income. The current quarter included net gains of $64 million from the sale of securities, compared to net gains of $69 million and $73 million in the prior quarter and the fourth quarter of 2009, respectively.

For the year ended December 31, 2010, total revenue was $8.7 billion, an increase of $400 million, or 5%, from 2009, which was substantially attributable to higher net interest income. Noninterest income was essentially flat, as declines in mortgage production income and service charges on deposits were offset by an increase in trading income due to lower mark-to-market losses, net of hedges, on the Company’s debt carried at fair value. The current year included net gains of $191 million from the sale of securities, compared to net gains of $210 million in 2009 related to the sale of securities and Visa shares.

Net Interest Income

For the fourth quarter of 2010, net interest income was $1.3 billion, an increase of 2% on a sequential quarter basis and up 7% compared to the fourth quarter of 2009. Net interest income growth over the third quarter was attributable to lower rates paid on deposits and borrowed funds, as well as the continued shift in the deposit mix toward lower-cost accounts. Relative to the fourth quarter of 2009, these same factors drove the growth, together with a significant reduction in higher-cost time deposits and longer-term debt balances.

Net interest margin for the fourth quarter of 2010 was 3.44%, an increase of 3 basis points on a sequential quarter basis. Compared to the fourth quarter of 2009, net interest margin increased 17 basis points, primarily driven by a 38 basis point decline in rates paid on interest-bearing liabilities, which more than offset a 17 basis point decline in earning asset yields.

For the year ended December 31, 2010, net interest income was $5.0 billion, an increase of 8% compared to 2009. Net interest margin was 3.38%, up 34 basis points over 2009. The same factors that drove the quarterly year-over-year increases contributed to the full-year net interest income and margin growth.

Noninterest Income

Total noninterest income was $1.0 billion in the fourth quarter of 2010, down $15 million, or 1%, on a sequential quarter basis. The decline in mortgage-related income and service charges on deposit accounts was partially offset by more favorable mark-to-market valuation impacts included in trading account profits and commissions. Compared to the fourth quarter of 2009, noninterest income increased $290 million, or 39%, primarily due to higher capital markets and mortgage-related income, as well as higher mark-to-market valuation impacts, partially offset by lower service charges. Gains on the sale of securities associated with the repositioning of the investment portfolio were $64 million, $69 million, and $73 million in the fourth and third quarters of 2010 and the fourth quarter of 2009, respectively.

Mortgage servicing income declined $64 million compared to the third quarter, due to a reduction in net hedge performance and the negative impact that higher prepayments had on the fair value of the mortgage servicing rights. Compared to the fourth quarter of 2009, mortgage servicing income increased

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$21 million due to higher net hedge performance. The mortgage servicing portfolio was $167.2 billion as of December 31, 2010, down from $178.9 billion at December 31, 2009.

Mortgage production income declined $92 million from the third quarter, due to lower mortgage production volume and reduced margins. The provision for mortgage repurchase losses was $85 million in the current quarter, down $10 million from the third quarter. Compared to the fourth quarter of 2009, mortgage production related income increased $109 million primarily due to a $136 million decline in the provision for mortgage repurchase losses. As of December 31, 2010, mortgage repurchase reserves totaled $265 million.

Trading account profits and commissions increased $115 million on a sequential quarter basis. The largest driver was a $64 million mark-to-market differential, net of hedges, on the Company’s index-linked certificates of deposit carried at fair value; a $5 million gain was recognized on this item in the fourth quarter compared to a $59 million loss in the third quarter. Additionally, a $16 million mark-to-market valuation gain, net of hedges, was recognized in the current quarter on the Company’s public debt carried at fair value, compared to a valuation loss of $22 million in the prior quarter. Compared to the fourth quarter of 2009, trading account profits and commissions increased $124 million. This was largely driven by a $54 million increase, net of hedges, from the prior year in mark-to-market valuation gains on the Company’s public debt carried at fair value. An approximate $30 million of the increase was due to lower valuation losses on previously securitized and sold loans, and the net impact of gains on the sale of, and improved market valuations on, assets carried at fair value.

Consumer and commercial fee-based income in the fourth quarter of 2010 were essentially flat compared to the prior quarter and fourth quarter of 2009, as strong investment banking income and card fees were offset by lower service charges on deposits as a result of recently enacted regulations. Other income in the fourth quarter of 2010 included a $13 million gain recognized upon the previously-announced sale of the Company’s money market mutual fund business.

For the year ended December 31, 2010, noninterest income was essentially flat compared to 2009. Trading account profits and commissions increased as a result of reduced valuation losses, net of hedges, on the Company’s public debt carried at fair value. This was offset by lower mortgage-related income and service charges on deposit accounts.

Noninterest Expense

For the fourth quarter of 2010, noninterest expense was $1.5 billion, an increase of $49 million, or 3%, on a sequential quarter basis, and an increase of $95 million, or 7%, over the fourth quarter of 2009. The expense increase relative to both periods was primarily due to investments that are expected to enhance future revenue generation capabilities. Employee compensation and benefits increased $29 million from the sequential quarter and $44 million from the fourth quarter of 2009. This increase was driven by higher salaries, mostly due to additional full-time equivalent employees – which increased by 458 and 1,055 over the sequential quarter and the fourth quarter of 2009, respectively – primarily in the mortgage, technology, and client support areas. Additionally, higher incentive compensation related to improved financial performance in certain business lines contributed to the increase. Outside processing and software expense increased $17 million compared to the third quarter and $25 million over the prior year quarter due to increased expenses associated with client acquisition and risk management technology projects and higher transaction volumes. Marketing and customer development expenses increased $13 million, or 30%, on a sequential quarter basis, and $8 million, or 17%, compared to the fourth quarter of 2009. Credit-related costs were $189 million in the fourth quarter of 2010, up $8 million compared to the third quarter and $15 million higher than the fourth quarter of 2009, driven by higher other real estate losses. The current quarter included $4 million in net losses on the extinguishment of debt compared to $12 million in the third quarter and $23 million in the fourth quarter of 2009.

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Total noninterest expense was $5.9 billion in 2010, a decrease of $651 million, or 10%, compared to 2009, which included a $751 million non-cash goodwill impairment charge recognized in the first quarter of 2009. Personnel-related expenses increased $21 million, or 1%, due to increased full time-equivalent employees partially offset by lower pension cost. Outside processing and software expenses increased $59 million, or 10%, related to technology investments made to enhance the client experience, as well as increased transaction volumes. Marketing and customer development expenses increased $25 million, or 16%, due to increased advertising and other expenses aimed at driving deposit growth. FDIC insurance premiums declined $37 million, primarily due to the special assessment paid in 2009. Credit-related costs were down $28 million as higher other real estate losses were offset by lower mortgage reinsurance losses. Debt extinguishment costs increased $31 million over 2009.

Income Taxes

For the fourth quarter of 2010, the Company recorded a provision for income taxes of $45 million compared to a benefit of $263 million in the fourth quarter of 2009. The effective tax rate for the fourth quarter of 2010 was 19.7%. For the year, the Company recognized a benefit for income taxes of $185 million compared to a benefit of $898 million in 2009.

U.S. Treasury Preferred Dividends

For the fourth quarter and full years of 2010 and 2009, the Company recorded $67 million, $267 million, and $266 million, respectively, in preferred dividends 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 December 31, 2010, SunTrust had total assets of $172.9 billion and shareholders’ equity of $23.1 billion, representing 13.4% of total assets. Book and tangible book value per common share were $36.34 and $23.76, respectively, as of December 31, 2010.

Loans

Average loans for the fourth quarter of 2010 were $114.9 billion, up $1.6 billion, or 1%, compared to the third quarter. Growth in average commercial, residential mortgage, and consumer loans was partially offset by declines in construction and commercial real estate loans. During the fourth quarter, the Company completed an approximately $900 million purchase of high-quality indirect auto loans. Average loans for the fourth quarter of 2010 were essentially flat compared to the fourth quarter of 2009; however, the mix of loans changed over this time. The Company reduced its outstanding exposure to construction, home equity, and commercial real estate loans by a combined $4.0 billion, or 11%. Meanwhile, the outstanding balances in consumer direct (primarily student loans) and indirect auto increased by a combined $3.5 billion, or 30%. The preponderance of the growth in 2010 within residential mortgage and student loans came in loans carrying a government guarantee, also helping to reduce the overall risk profile of the loan portfolio. During the current quarter, loan originations including renewals and loan commitments totaled $22.2 billion, up 13% over the prior quarter.

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Deposits

Consumer and commercial deposits in the fourth quarter of 2010 averaged $119.7 billion, an increase of $2.5 billion, or 2%, compared to the prior quarter. Growth was driven by lower-cost accounts, including demand, NOW, and money market. Compared to the fourth quarter of 2009, average consumer and commercial deposits increased $2.7 billion, or 2%. This growth was also driven by the lower-cost accounts, which grew a combined $8.5 billion, or 10%. Higher-cost consumer and other time deposits declined $6.0 billion, or 22%. While changing client preferences and the economic environment have contributed to this favorable shift in the deposit mix, SunTrust also attributes the growth to its investments in enhancing the client experience and its marketing initiatives. Among other benefits, the growth in low-cost deposits has enabled reductions in wholesale funding sources, including brokered and foreign deposit declines of $2.3 billion, or 45%.

Capital and Liquidity

The estimated Tier 1 common, Tier 1 capital, and tangible equity to tangible asset ratios remained relatively consistent compared to the prior quarter at 8.1%, 13.7%, and 10.1%, respectively, as of December 31, 2010. The estimated Tier 1 capital ratio excluding the TARP preferred stock was 10.0% at year-end. The Company’s capital position remains strong relative to current regulatory requirements. Its Tier 1 common ratio also exceeds the guidelines recently published by the Basel Committee and endorsed by U.S. regulatory agencies. The Company continues to have substantial liquidity as the inflows of deposits have largely been retained in cash or invested in high quality government-backed securities. In addition, the Company continues to have significant available borrowing capacity from its contingent funding sources.

Asset Quality

Asset quality metrics continued to improve during the quarter. Nonperforming loans, nonperforming assets, early stage delinquencies, and net charge-offs declined compared to the third quarter and are significantly lower than the fourth quarter of 2009. As of December 31, 2010, the allowance for loan losses was $3.0 billion, a decline of $112 million from the prior quarter. The reduction in the allowance for loan losses, combined with $920 million of growth in period-end total loans, resulted in a decline in the allowance to total loans ratio of 11 basis points to 2.58%. At the end of 2010, approximately 7.5% of the Company’s loan portfolio was comprised of government-guaranteed loans. The reserve for unfunded commitments increased $3 million sequentially to $58 million. Early stage delinquencies were 1.18% as of year-end, a modest improvement of 6 basis points from the end of the third quarter.

Net charge-off trends continued to improve, with fourth quarter net charge-offs of $621 million being less than the levels recognized in each of the previous six quarters. On a sequential basis, net charge-offs declined $69 million. Construction and residential mortgage net charge-offs declined $102 million, while commercial loan charge-offs increased $29 million; net charge-offs for all other loan categories were relatively flat. Compared to the fourth quarter of 2009, net charge-offs declined $200 million with declines in all loan categories except for commercial real estate, which increased to $38 million from $3 million. For the current quarter, the ratio of annualized net charge-offs to total average loans was 2.14%, down 28 basis points and 69 basis points from the prior quarter and the fourth quarter of 2009, respectively. The provision for credit losses for the current quarter was $512 million, down $103 million from the third quarter and down $462 million from the fourth quarter of 2009. For the year, net charge-offs were $2.9 billion, down $384 million compared to 2009, while the provision for credit losses declined $1.4 billion.

Nonaccrual loans declined $263 million, or 6%, from the prior quarter, continuing the downward trend experienced since the third quarter of 2009. The overall decline during the quarter in nonaccrual loans was mainly attributable to reductions in construction, residential mortgage, and commercial loans, while nonaccrual commercial real estate loans increased $43 million, or 9%. Nonaccrual loans totaled $4.1

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billion, down $1.3 billion, or 24%, from the prior year. Residential mortgage and construction nonaccrual loans declined $857 million, or 32%, and $356 million, or 24%, respectively. At the end of the fourth quarter of 2010, nonaccrual loans represented 3.54% of total loans, down 121 basis points from the fourth quarter of 2009 and down 26 basis points from the prior quarter. Repayments, charge-offs, transfers to other real estate owned, and reduced inflows to nonaccrual status contributed to the overall decline. As of December 31, 2010, other real estate owned totaled $596 million, down $49 million since the prior quarter end.

The Company continued its efforts to assist borrowers experiencing financial difficulties through loan modifications. Accruing restructured loans increased during the quarter by $97 million and totaled $2.6 billion as of December 31, 2010. Compared to December 31, 2009, accruing restructured loans increased $972 million. Nonaccruing restructured loans remained relatively stable at $1.0 billion. The vast majority of accruing restructured loans relate to consumers, primarily residential mortgages. Nonaccruing restructured loans are also primarily related to consumers but also include $324 million of loans to business clients.

LINE OF BUSINESS FINANCIAL PERFORMANCE

Line of Business Results

The Company has included line of business financial tables as part of this release on its website at www.suntrust.com in the Investor Relations section located under “About SunTrust.” During the second quarter of 2010 the Company adjusted its lines of business used to measure business activities to align with certain organizational changes implemented during the quarter. The Company’s business segments are: Retail Banking, Diversified Commercial Banking, Corporate and Investment Banking, Mortgage, Wealth and Investment Management, and Commercial Real Estate. 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 loan 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 expense 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 loan 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 annual report on Form 10-K.

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 annual report on Form 10-K. Detailed financial tables and other information are also available on the Company’s website 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.

Conference Call

SunTrust management will host a conference call on January 21, 2011, 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: 4Q10). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 4Q10). A replay of the call will be available approximately one hour after the call ends on January 21, 2011, and will remain available until February 4, 2011, by dialing 1-800-294-3092 (domestic) or 1-402-220-9770 (international).

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Alternatively, individuals may listen to the live webcast of the presentation by visiting the SunTrust investor relations website at www.suntrust.com/investorrelations. Beginning the afternoon of January 21, 2011, listeners may access an archived version of the webcast in the “Webcasts and Presentations” subsection found on the investor relations webpage. 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 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 and rates of change in delinquencies, future levels of nonperforming loans and charge-offs, the impact of legislative and regulatory changes, 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,” “potential impacts,” “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: 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

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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 are subject to certain risks from originating, selling, and holding mortgages, including the risk that 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, and the risk of delays in the foreclosure process, both of 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 loans and lease 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.

9

SunTrust Banks, Inc. and Subsidiaries

FINANCIAL HIGHLIGHTS

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

	Three Months Ended						%			Twelve Months Ended						%
	December 31									December 31
	2010			2009			Change 4			2010			2009			Change 4
EARNINGS & DIVIDENDS
Net income/(loss)		$185			($248)			NM	%		$189			($1,564)			NM	%
Net income/(loss) available to common shareholders		114			(316)			NM			(87)			(1,733)			95
Net income/(loss) available to common shareholders excluding goodwill/intangible impairment charges other than MSRs 1		114			(316)			NM			(87)			(1,018)			91
Total revenue - FTE 2		2,326			1,949			19			8,699			8,299			5
Total revenue - FTE excluding securities gains, net 1		2,262			1,876			21			8,508			8,201			4
Net income/(loss) per average common share Diluted 5		0.23			(0.64)			NM			(0.18)			(3.98)			95
Diluted excluding goodwill/intangible impairment charges other than MSRs 1,5		0.23			(0.64)			NM			(0.18)			(2.34)			92
Basic		0.23			(0.64)			NM			(0.18)			(3.98)			95
Dividends paid per common share		0.01			0.01			-			0.04			0.22			(82)
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets		$174,768			$174,041			-	%		$172,375			$175,442			(2)	%
Earning assets		149,114			146,587			2			147,187			150,908			(2)
Loans		114,930			115,036			-			113,925			121,041			(6)
Consumer and commercial deposits		119,688			117,008			2			117,129			113,164			4
Brokered and foreign deposits		2,827			5,145			(45)			2,916			6,082			(52)
Total shareholders’ equity		23,576			22,381			5			22,834			22,286			2
As of
Total assets		172,874			174,165			(1)
Earning assets		148,473			147,896			-
Loans		115,975			113,675			2
Allowance for loan and lease losses		2,974			3,120			(5)
Consumer and commercial deposits		120,025			116,303			3
Brokered and foreign deposits		3,019			5,560			(46)
Total shareholders’ equity		23,130			22,531			3
FINANCIAL RATIOS & OTHER DATA
Return on average total assets		0.42	%		(0.57)	%		NM	%		0.11	%		(0.89)	%		NM	%
Return on average assets less net unrealized securities gains 1		0.31			(0.70)			NM			0.01			(0.96)			NM
Return on average common shareholders’ equity		2.44			(7.19)			NM			(0.49)			(10.07)			95
Return on average realized common shareholders’ equity 1		1.53			(8.81)			NM			(1.53)			(11.12)			86
Net interest margin 2		3.44			3.27			5			3.38			3.04			11
Efficiency ratio 2		66.57			74.58			(11)			67.94			79.07			(14)
Tangible efficiency ratio 1		66.07			73.96			(11)			67.36			69.35			(3)
Effective tax rate/(benefit)		19.66			(51.46)			NM			NM			(36.50)			NM
Tier 1 common equity		8.08	3		7.67			5
Tier 1 capital		13.65	3		12.96			5
Total capital		16.50	3		16.43			-
Tier 1 leverage		10.90	3		10.90			-
Total average shareholders’ equity to total average assets		13.49			12.86			5			13.25			12.70			4
Tangible equity to tangible assets 1		10.12			9.66			5
Book value per common share		$36.34			$35.29			3
Tangible book value per common share 1		23.76			22.59			5
Market price:
High		29.82			24.09			24			31.92			30.18			6
Low		23.25			18.45			26			20.16			6.00			NM
Close		29.51			20.29			45			29.51			20.29			45
Market capitalization		14,768			10,128			46
Average common shares outstanding (000s)
Diluted		499,423			498,082			-			498,744			437,486			14
Basic		495,710			494,332			-			495,361			435,328			14
Full-time equivalent employees		29,056			28,001			4
Number of ATMs		2,918			2,822			3
Full service banking offices		1,668			1,683			(1)

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

² Total 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.

³ Current 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.

⁵ For 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
	December 31			September 30			June 30			March 31			December 31
	2010			2010			2010			2010			2009
EARNINGS & DIVIDENDS
Net income/(loss)		$185			$153			$12			($161	)		($248	)
Net income/(loss) available to common shareholders		114			84			(56	)		(229	)		(316	)
Net income/(loss) available to common shareholders excluding goodwill/intangible impairment charges other than MSRs 1		114			84			(56	)		(229	)		(316	)
Total revenue - FTE 2		2,326			2,313			2,160			1,900			1,949
Total revenue - FTE excluding securities gains, net 1		2,262			2,244			2,103			1,899			1,876
Net income/(loss) per average common share
Diluted 4		0.23			0.17			(0.11	)		(0.46	)		(0.64	)
Diluted excluding goodwill/intangible impairment charges other than MSRs 1,4		0.23			0.17			(0.11	)		(0.46	)		(0.64	)
Basic		0.23			0.17			(0.11	)		(0.46	)		(0.64	)
Dividends paid per common share		0.01			0.01			0.01			0.01			0.01
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets		$174,768			$171,999			$171,273			$171,429			$174,041
Earning assets		149,114			147,249			145,464			146,896			146,587
Loans		114,930			113,322			113,016			114,435			115,036
Consumer and commercial deposits		119,688			117,233			116,460			115,084			117,008
Brokered and foreign deposits		2,827			2,740			2,670			3,433			5,145
Total shareholders’ equity		23,576			23,091			22,313			22,338			22,381
As of
Total assets		172,874			174,703			170,668			171,796			174,165
Earning assets		148,473			149,994			145,601			147,056			147,896
Loans		115,975			115,055			112,925			113,979			113,675
Allowance for loan and lease losses		2,974			3,086			3,156			3,176			3,120
Consumer and commercial deposits		120,025			117,494			116,261			116,144			116,303
Brokered and foreign deposits		3,019			2,850			2,407			2,606			5,560
Total shareholders’ equity		23,130			23,438			23,024			22,620			22,531
FINANCIAL RATIOS & OTHER DATA
Return on average total assets		0.42	%		0.35	%		0.03	%		(0.38	)  %		(0.57	)  %
Return on average assets less net unrealized securities gains 1		0.31			0.23			(0.08	)		(0.42	)		(0.70	)
Return on average common shareholders’ equity		2.44			1.83			(1.29	)		(5.34	)		(7.19	)
Return on average realized common shareholders’ equity 1		1.53			0.70			(2.53	)		(5.93	)		(8.81	)
Net interest margin 2		3.44			3.41			3.33			3.32			3.27
Efficiency ratio 2		66.57			64.80			69.57			71.60			74.58
Tangible efficiency ratio 1		66.07			64.24			68.96			70.91			73.96
Effective tax rate/(benefit)		19.66			8.25			(133.13	)		(54.70	)		(51.46	)
Tier 1 common equity		8.08	3		8.02			7.92			7.70			7.67
Tier 1 capital		13.65	3		13.58			13.51			13.13			12.96
Total capital		16.50	3		16.42			16.96			16.68			16.43
Tier 1 leverage		10.90	3		11.03			10.94			10.95			10.90
Total average shareholders’ equity to total average assets		13.49			13.42			13.03			13.03			12.86
Tangible equity to tangible assets 1		10.12			10.19			10.18			9.86			9.66
Book value per common share		$36.34			$37.01			$36.19			$35.40			$35.29
Tangible book value per common share 1		23.76			24.42			23.58			22.76			22.59
Market price:
High		29.82			27.05			31.92			28.39			24.09
Low		23.25			21.79			23.12			20.16			18.45
Close		29.51			25.83			23.30			26.79			20.29
Market capitalization		14,768			12,914			11,648			13,391			10,128
Average common shares outstanding (000s)
Diluted		499,423			498,802			498,499			498,238			498,082
Basic		495,710			495,501			495,351			494,871			494,332
Full-time equivalent employees		29,056			28,599			28,250			28,263			28,001
Number of ATMs		2,918			2,928			2,902			2,828			2,822
Full service banking offices		1,668			1,670			1,675			1,678			1,683

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

² Total 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.

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

⁴ For 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 millions, except per share data) (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31				Increase/(Decrease)  2					December 31				Increase/(Decrease)  2
	2010		2009		Amount		%			2010		2009		Amount		%
Interest income		$1,595		$1,630		($35)		(2)	%		$6,343		$6,710		($367)		(5)	%
Interest expense		329		453		(124)		(27)			1,489		2,244		(755)		(34)
NET INTEREST INCOME		1,266		1,177		89		8			4,854		4,466		388		9
Provision for credit losses		512		974		(462)		(47)			2,651		4,064		(1,413)		(35)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		754		203		551		NM			2,203		402		1,801		NM
NONINTEREST INCOME
Service charges on deposit accounts		172		213		(41)		(19)			760		848		(88)		(10)
Trust and investment management income		130		135		(5)		(4)			503		486		17		3
Retail investment services		57		54		3		6			205		218		(13)		(6)
Other charges and fees		135		137		(2)		(1)			534		523		11		2
Investment banking income		103		60		43		72			313		272		41		15
Trading account profits/(losses) and commissions		93		(31)		124		NM			173		(41)		214		NM
Card fees		99		85		14		16			376		324		52		16
Mortgage production related income/(loss)		41		(68)		109		NM			127		376		(249)		(66)
Mortgage servicing related income		68		47		21		45			358		330		28		8
Gain from ownership in Visa		-		-		-		-			-		112		(112)		(100)
Other noninterest income		70		37		33		89			189		164		25		15
Securities gains, net		64		73		(9)		(12)			191		98		93		95
Total noninterest income		1,032		742		290		39			3,729		3,710		19		1
NONINTEREST EXPENSE
Employee compensation and benefits		738		694		44		6			2,821		2,800		21		1
Net occupancy expense		88		92		(4)		(4)			361		357		4		1
Outside processing and software		174		149		25		17			638		579		59		10
Equipment expense		46		43		3		7			174		172		2		1
Marketing and customer development		56		48		8		17			177		152		25		16
Amortization/impairment of goodwill/intangible assets		12		12		-		-			51		807		(756)		(94)
Net loss on extinguishment of debt		4		23		(19)		(83)			70		39		31		79
Operating losses		26		26		-		-			83		99		(16)		(16)
Mortgage reinsurance		2		10		(8)		(80)			27		115		(88)		(77)
FDIC premium/regulatory exams		69		61		8		13			265		302		(37)		(12)
Other noninterest expense		333		295		38		13			1,244		1,140		104		9
Total noninterest expense		1,548		1,453		95		7			5,911		6,562		(651)		(10)
INCOME/(LOSS) BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES		238		(508)		746		NM			21		(2,450)		2,471		NM
Provision/(benefit) for income taxes		45		(263)		308		NM			(185)		(898)		713		79
INCOME/(LOSS) INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST		193		(245)		438		NM			206		(1,552)		1,758		NM
Net income attributable to noncontrolling interest		8		3		5		NM			17		12		5		42
NET INCOME/(LOSS)		$185		($248)		$433		NM	%		$189		($1,564)		$1,753		NM	%
NET INCOME/(LOSS) AVAILABLE TO COMMON SHAREHOLDERS		$114		($316)		$430		NM	%		($87)		($1,733)		$1,646		95	%
Net interest income - FTE 1		1,294		1,207		87		7			4,970		4,589		381		8
Net income/(loss) per average common share
Diluted 3		0.23		(0.64)		0.87		NM			(0.18)		(3.98)		3.80		95
Basic		0.23		(0.64)		0.87		NM			(0.18)		(3.98)		3.80		95
Cash dividends paid per common share		0.01		0.01		-		-			0.04		0.22		(0.18)		(82)
Average common shares outstanding (000s)
Diluted		499,423		498,082		1,341		-			498,744		437,486		61,258		14
Basic		495,710		494,332		1,378		-			495,361		435,328		60,033		14

¹ Net 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.

³ For 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 millions, except per share data) (Unaudited)

	Three Months Ended									Three Months Ended
	December 31		September 30		Increase/(Decrease) 2					June 30		March 31		December 31
	2010		2010		Amount		%			2010		2010		2009
Interest income		$1,595		$1,604		($9)		-	%		$1,570		$1,574		$1,630
Interest expense		329		366		(37)		(10)			392		402		453
NET INTEREST INCOME		1,266		1,238		28		2			1,178		1,172		1,177
Provision for credit losses		512		615		(103)		(17)			662		862		974
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		754		623		131		21			516		310		203
NONINTEREST INCOME
Service charges on deposit accounts		172		184		(12)		(7)			208		196		213
Trust and investment management income		130		124		6		5			127		122		135
Retail investment services		57		52		5		10			49		47		54
Other charges and fees		135		137		(2)		(1)			133		129		137
Investment banking income		103		96		7		7			58		56		60
Trading account profits/(losses) and commissions		93		(22)		115		NM			109		(7)		(31)
Card fees		99		96		3		3			94		87		85
Mortgage production related income/(loss)		41		133		(92)		(69)			(16)		(31)		(68)
Mortgage servicing related income		68		132		(64)		(48)			88		70		47
Other noninterest income		70		46		24		52			45		28		37
Securities gains, net		64		69		(5)		(7)			57		1		73
Total noninterest income		1,032		1,047		(15)		(1)			952		698		742
NONINTEREST EXPENSE
Employee compensation and benefits		738		709		29		4			682		692		694
Net occupancy expense		88		92		(4)		(4)			90		91		92
Outside processing and software		174		157		17		11			158		149		149
Equipment expense		46		45		1		2			42		41		43
Marketing and customer development		56		43		13		30			44		34		48
Amortization/impairment of goodwill/intangible assets		12		13		(1)		(8)			13		13		12
Net loss/(gain) on extinguishment of debt		4		12		(8)		(67)			63		(9)		23
Operating losses		26		27		(1)		(4)			16		14		26
Mortgage reinsurance		2		7		(5)		(71)			9		9		10
FDIC premium/regulatory exams		69		67		2		3			65		64		61
Other noninterest expense		333		327		6		2			321		263		295
Total noninterest expense		1,548		1,499		49		3			1,503		1,361		1,453
INCOME/(LOSS) BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES		238		171		67		39			(35)		(353)		(508)
Provision/(benefit) for income taxes		45		14		31		NM			(50)		(194)		(263)
INCOME/(LOSS) INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST		193		157		36		23			15		(159)		(245)
Net income attributable to noncontrolling interest		8		4		4		100			3		2		3
NET INCOME/(LOSS)		$185		$153		$32		21	%		$12		($161)		($248)
NET INCOME/(LOSS) AVAILABLE TO COMMON SHAREHOLDERS		$114		$84		$30		36	%		($56)		($229)		($316)
Net interest income - FTE 1		1,294		1,266		28		2			1,208		1,202		1,207
Net income/(loss) per average common share
Diluted 3		0.23		0.17		0.06		35			(0.11)		(0.46)		(0.64)
Basic		0.23		0.17		0.06		35			(0.11)		(0.46)		(0.64)
Cash dividends paid per common share		0.01		0.01		-		-			0.01		0.01		0.01
Average common shares outstanding (000s)
Diluted		499,423		498,802		621		-			498,499		498,238		498,082
Basic		495,710		495,501		209		-			495,351		494,871		494,332

¹ Net 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.

³ For 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 millions) (Unaudited)

	As of December 31				Increase/(Decrease)  2
	2010		2009		Amount		%
ASSETS
Cash and due from banks		$4,296		$6,456		($2,160)		(33) %
Interest-bearing deposits in other banks		24		24		-		-
Funds sold and securities purchased under agreements to resell		1,058		517		541		NM
Trading assets		6,175		4,980		1,195		24
Securities available for sale		26,895		28,477		(1,582)		(6)
Loans held for sale		3,501		4,670		(1,169)		(25)
Loans held for investment:
Commercial		34,064		32,494		1,570		5
Real estate:
Home equity lines		15,040		15,953		(913)		(6)
Construction		3,848		6,647		(2,799)		(42)
Residential mortgages		31,572		30,790		782		3
Commercial real estate:
Owner occupied		8,674		8,915		(241)		(3)
Investor owned		5,868		6,159		(291)		(5)
Consumer:
Direct		6,638		5,118		1,520		30
Indirect		9,291		6,531		2,760		42
Credit card		980		1,068		(88)		(8)
Total loans held for investment		115,975		113,675		2,300		2
Allowance for loan and lease losses		(2,974)		(3,120)		(146)		(5)
Net loans held for investment		113,001		110,555		2,446		2
Goodwill		6,323		6,319		4		-
Other intangible assets		1,571		1,711		(140)		(8)
Other real estate owned		596		620		(24)		(4)
Other assets		9,434		9,836		(402)		(4)
Total assets 1		$172,874		$174,165		($1,291)		(1)  %
LIABILITIES
Deposits:
Noninterest-bearing consumer and commercial deposits		$27,290		$24,244		$3,046		13  %
Interest-bearing consumer and commercial deposits:
NOW accounts		26,115		27,205		(1,090)		(4)
Money market accounts		42,005		35,213		6,792		19
Savings		4,094		3,753		341		9
Consumer time		12,879		14,778		(1,899)		(13)
Other time		7,642		11,110		(3,468)		(31)
Total consumer and commercial deposits		120,025		116,303		3,722		3
Brokered deposits		2,365		4,231		(1,866)		(44)
Foreign deposits		654		1,329		(675)		(51)
Total deposits		123,044		121,863		1,181		1
Funds purchased		951		1,433		(482)		(34)
Securities sold under agreements to repurchase		2,180		1,871		309		17
Other short-term borrowings		2,690		2,062		628		30
Long-term debt		13,648		17,490		(3,842)		(22)
Trading liabilities		2,678		2,189		489		22
Other liabilities		4,553		4,726		(173)		(4)
Total liabilities		149,744		151,634		(1,890)		(1)
SHAREHOLDERS’ EQUITY
Preferred stock, no par value		4,942		4,917		25		1
Common stock, $1.00 par value		515		515		-		-
Additional paid in capital		8,403		8,521		(118)		(1)
Retained earnings		8,542		8,563		(21)		-
Treasury stock, at cost, and other		(888)		(1,055)		(167)		(16)
Accumulated other comprehensive income		1,616		1,070		546		51
Total shareholders’ equity		23,130		22,531		599		3
Total liabilities and shareholders’ equity		$172,874		$174,165		($1,291)		(1) %
Common shares outstanding		500,435,823		499,156,858		1,278,965		-  %
Common shares authorized		750,000,000		750,000,000		-		-
Preferred shares outstanding		50,225		50,225		-		-
Preferred shares authorized		50,000,000		50,000,000		-		-
Treasury shares of common stock		14,230,772		15,509,737		(1,278,965)		(8)
1 Includes earning assets of		$148,473		$147,896		$577		-   %

² “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 millions) (Unaudited)

	As of									As of
	December 31		September 30		Increase/(Decrease)					June 30		March 31		December 31
	2010		2010		Amount		%			2010		2010		2009
ASSETS
Cash and due from banks		$4,296		$3,169		$1,127		36	%		$3,836		$4,671		$6,456
Interest-bearing deposits in other banks		24		25		(1)		(4)			24		24		24
Funds sold and securities purchased under agreements to resell		1,058		962		96		10			933		1,614		517
Trading assets		6,175		6,650		(475)		(7)			6,166		6,038		4,980
Securities available for sale		26,895		30,310		(3,415)		(11)			27,598		26,239		28,477
Loans held for sale		3,501		3,114		387		12			3,185		3,697		4,670
Loans held for investment:
Commercial		34,064		32,847		1,217		4			32,523		33,394		32,494
Real estate:
Home equity lines		15,040		15,292		(252)		(2)			15,443		15,676		15,953
Construction		3,848		4,440		(592)		(13)			5,004		5,756		6,647
Residential mortgages		31,572		32,003		(431)		(1)			31,126		30,805		30,790
Commercial real estate:
Owner occupied		8,674		8,709		(35)		-			8,877		8,927		8,915
Investor owned		5,868		6,104		(236)		(4)			6,257		6,335		6,159
Consumer:
Direct		6,638		6,492		146		2			5,711		5,368		5,118
Indirect		9,291		8,165		1,126		14			6,953		6,678		6,531
Credit card		980		1,003		(23)		(2)			1,031		1,040		1,068
Total loans held for investment		115,975		115,055		920		1			112,925		113,979		113,675
Allowance for loan and lease losses		(2,974)		(3,086)		(112)		(4)			(3,156)		(3,176)		(3,120)
Net loans held for investment		113,001		111,969		1,032		1			109,769		110,803		110,555
Goodwill		6,323		6,323		-		-			6,323		6,323		6,319
Other intangible assets		1,571		1,204		367		30			1,443		1,800		1,711
Other real estate owned		596		645		(49)		(8)			700		628		620
Other assets		9,434		10,332		(898)		(9)			10,691		9,959		9,836
Total assets 1		$172,874		$174,703		($1,829)		(1)	%		$170,668		$171,796		$174,165
LIABILITIES
Deposits:
Noninterest-bearing consumer and commercial deposits		$27,290		$26,707		$583		2	%		$25,382		$25,149		$24,244
Interest-bearing consumer and commercial deposits:
NOW accounts		26,115		23,444		2,671		11			24,487		25,657		27,205
Money market accounts		42,005		40,798		1,207		3			38,444		36,873		35,213
Savings		4,094		4,051		43		1			4,107		4,027		3,753
Consumer time		12,879		13,966		(1,087)		(8)			14,665		14,547		14,778
Other time		7,642		8,528		(886)		(10)			9,176		9,891		11,110
Total consumer and commercial deposits		120,025		117,494		2,531		2			116,261		116,144		116,303
Brokered deposits		2,365		2,409		(44)		(2)			2,343		2,351		4,231
Foreign deposits		654		441		213		48			64		255		1,329
Total deposits		123,044		120,344		2,700		2			118,668		118,750		121,863
Funds purchased		951		1,076		(125)		(12)			1,260		1,159		1,433
Securities sold under agreements to repurchase		2,180		2,429		(249)		(10)			2,477		2,794		1,871
Other short-term borrowings		2,690		4,894		(2,204)		(45)			2,517		2,388		2,062
Long-term debt		13,648		15,208		(1,560)		(10)			15,659		16,531		17,490
Trading liabilities		2,678		2,702		(24)		(1)			2,655		3,247		2,189
Other liabilities		4,553		4,612		(59)		(1)			4,408		4,307		4,726
Total liabilities		149,744		151,265		(1,521)		(1)			147,644		149,176		151,634
SHAREHOLDERS’ EQUITY
Preferred stock, no par value		4,942		4,936		6		-			4,929		4,923		4,917
Common stock, $1.00 par value		515		515		-		-			515		515		515
Additional paid in capital		8,403		8,443		(40)		-			8,445		8,446		8,521
Retained earnings		8,542		8,431		111		1			8,358		8,419		8,563
Treasury stock, at cost, and other		(888)		(952)		(64)		(7)			(968)		(989)		(1,055)
Accumulated other comprehensive income		1,616		2,065		(449)		(22)			1,745		1,306		1,070
Total shareholders’ equity		23,130		23,438		(308)		(1)			23,024		22,620		22,531
Total liabilities and shareholders’ equity		$172,874		$174,703		($1,829)		(1)	%		$170,668		$171,796		$174,165
Common shares outstanding		500,435,823		499,954,653		481,170		-	%		499,928,565		499,857,812		499,156,858
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		50,225		50,225
Preferred shares authorized		50,000,000		50,000,000		-		-			50,000,000		50,000,000		50,000,000
Treasury shares of common stock		14,230,772		14,711,942		(481,170)		(3)			14,738,030		14,808,783		15,509,737
1 Includes earning assets of		$148,473		$149,994		($1,521)		(1)	%		$145,601		$147,056		$147,896

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
	December 31, 2010							September 30, 2010							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 residential mortgage 1-4 family		$29,789		$378		5.07	%		$29,252		$386		5.27	%		$537		(0.20)	%		$1,112		(0.65)	%
Real estate construction		2,839		28		3.98			3,431		33		3.78			(592)		0.20			(1,914)		0.60
Real estate home equity lines		14,738		126		3.38			14,785		127		3.40			(47)		(0.02)			(682)		0.06
Real estate commercial		13,967		143		4.07			14,166		146		4.08			(199)		(0.01)			(1,390)		0.03
Commercial - FTE 1		33,067		472		5.67			32,491		459		5.60			576		0.07			360		0.16
Credit card		1,054		21		8.04			1,049		22		8.37			5		(0.33)			59		0.27
Consumer - direct		6,565		73		4.38			5,872		66		4.45			693		(0.07)			1,494		0.41
Consumer - indirect		8,683		114		5.19			7,770		108		5.50			913		(0.31)			2,047		(1.03)
Nonaccrual 3		4,228		7		0.67			4,506		8		0.88			(278)		(0.21)			(1,192)		(0.18)
Total loans		114,930		1,362		4.70			113,322		1,355		4.74			1,608		(0.04)			(106)		(0.05)
Securities available for sale:
Taxable		25,702		196		3.05			25,502		208		3.26			200		(0.21)			2,363		(0.51)
Tax-exempt - FTE 1		627		8		5.27			732		10		5.26			(105)		0.01			(325)		(0.14)
Total securities available for sale - FTE 1		26,329		204		3.11			26,234		218		3.32			95		(0.21)			2,038		(0.52)
Funds sold and securities purchased under agreements to resell		964		-		0.02			1,021		-		0.08			(57)		(0.06)			269		(0.16)
Loans held for sale		3,312		35		4.17			3,276		35		4.33			36		(0.16)			(621)		(0.02)
Interest-bearing deposits		25		-		0.14			25		-		0.10			-		0.04			1		(0.22)
Interest earning trading assets		3,554		22		2.43			3,371		24		2.75			183		(0.32)			946		(0.82)
Total earning assets		149,114		1,623		4.32			147,249		1,632		4.40			1,865		(0.08)			2,527		(0.17)
Allowance for loan and lease losses		(2,958)							(3,035)							77					(22)
Cash and due from banks		4,889							4,200							689					(2,768)
Other assets		17,929							18,019							(90)					281
Noninterest earning trading assets		3,130							3,171							(41)					31
Unrealized gains on securities available for sale, net		2,664							2,395							269					678
Total assets		$174,768							$171,999							$2,769					$727
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$24,637		$12		0.20	%		$23,514		$13		0.23	%		$1,123		(0.03)	%		($1,737)		(0.15)	%
Money market accounts		41,711		53		0.50			39,839		57		0.57			1,872		(0.07)			7,393		(0.22)
Savings		4,087		2		0.19			4,074		3		0.22			13		(0.03)			273		(0.06)
Consumer time		13,360		57		1.68			14,381		68		1.87			(1,021)		(0.19)			(2,189)		(0.65)
Other time		8,045		37		1.85			8,914		45		2.02			(869)		(0.17)			(3,856)		(0.63)
Total interest-bearing consumer and commercial deposits		91,840		161		0.70			90,722		186		0.81			1,118		(0.11)			(116)		(0.40)
Brokered deposits		2,411		27		4.36			2,418		28		4.53			(7)		(0.17)			(2,193)		1.97
Foreign deposits		416		-		0.15			322		-		0.15			94		-			(125)		0.05
Total interest-bearing deposits		94,667		188		0.79			93,462		214		0.91			1,205		(0.12)			(2,434)		(0.36)
Funds purchased		1,092		1		0.19			1,176		1		0.20			(84)		(0.01)			(335)		0.03
Securities sold under agreements to repurchase		2,541		1		0.17			2,505		1		0.16			36		0.01			576		0.05
Interest-bearing trading liabilities		812		7		3.55			917		9		3.61			(105)		(0.06)			383		(0.59)
Other short-term borrowings		3,464		4		0.40			3,192		3		0.40			272		-			1,752		(0.29)
Long-term debt		14,914		128		3.41			15,396		138		3.56			(482)		(0.15)			(2,778)		(0.23)
Total interest-bearing liabilities		117,490		329		1.11			116,648		366		1.24			842		(0.13)			(2,836)		(0.38)
Noninterest-bearing deposits		27,848							26,511							1,337					2,796
Other liabilities		4,045							3,891							154					(274)
Noninterest-bearing trading liabilities		1,809							1,858							(49)					(154)
Shareholders’ equity		23,576							23,091							485					1,195
Total liabilities and shareholders’ equity		$174,768							$171,999							$2,769					$727
Interest Rate Spread						3.21	%						3.16	%				0.05	%				0.21	%
Net Interest Income - FTE 1				$1,294							$1,266
Net Interest Margin 2						3.44	%						3.41	%				0.03	%				0.17	%

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.

³ Accruing TDRs were classified in Nonaccrual during prior periods. Due to sustained performance, accruing TDRs have been reclassified to the applicable loans category where the related interest income is being classified in all periods presented.

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
	June 30, 2010							March 31, 2010							December 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 residential mortgage 1-4 family		$28,638		$393		5.49	%		$28,535		$397		5.56	%		$28,677		$410		5.72	%
Real estate construction		3,274		30		3.67			4,078		34		3.44			4,753		41		3.38
Real estate home equity lines		14,973		126		3.37			15,157		125		3.33			15,420		129		3.32
Real estate commercial		15,091		154		4.09			15,105		151		4.05			15,357		157		4.04
Commercial - FTE 1		32,503		447		5.52			33,094		449		5.50			32,707		454		5.51
Credit card		1,064		23		8.45			1,067		23		8.69			995		19		7.77
Consumer - direct		5,544		60		4.32			5,254		53		4.11			5,071		51		3.97
Consumer - indirect		6,946		101		5.86			6,697		101		6.10			6,636		104		6.22
Nonaccrual 3		4,983		11		0.86			5,448		11		0.83			5,420		12		0.85
Total loans		113,016		1,345		4.77			114,435		1,344		4.76			115,036		1,377		4.75
Securities available for sale:
Taxable		23,977		186		3.11			24,779		195		3.15			23,339		207		3.56
Tax-exempt - FTE 1		866		12		5.39			910		12		5.40			952		13		5.41
Total securities available for sale - FTE1		24,843		198		3.19			25,689		207		3.23			24,291		220		3.63
Funds sold and securities purchased under agreements to resell		1,009		-		0.11			882		-		0.11			695		-		0.18
Loans held for sale		3,342		33		3.97			3,248		33		4.09			3,933		41		4.19
Interest-bearing deposits		27		-		0.17			26		-		0.28			24		-		0.36
Interest earning trading assets		3,227		24		3.03			2,616		20		3.07			2,608		22		3.25
Total earning assets		145,464		1,600		4.41			146,896		1,604		4.43			146,587		1,660		4.49
Allowance for loan and lease losses		(3,107)							(3,083)							(2,936)
Cash and due from banks		5,788							4,408							7,657
Other assets		18,450							18,690							17,648
Noninterest earning trading assets		2,709							2,634							3,099
Unrealized gains on securities available for sale, net		1,969							1,884							1,986
Total assets		$171,273							$171,429							$174,041
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$24,949		$16		0.25	%		$25,593		$17		0.27	%		$26,374		$23		0.35	%
Money market accounts		37,703		57		0.61			36,250		61		0.67			34,318		63		0.72
Savings		4,093		2		0.22			3,856		2		0.24			3,814		2		0.25
Consumer time		14,779		72		1.96			14,417		70		1.97			15,549		91		2.33
Other time		9,445		50		2.11			10,448		56		2.18			11,901		75		2.48
Total interest-bearing consumer and commercial deposits		90,969		197		0.87			90,564		206		0.92			91,956		254		1.10
Brokered deposits		2,416		28		4.57			3,005		27		3.61			4,604		28		2.39
Foreign deposits		254		-		0.11			428		-		0.10			541		-		0.10
Total interest-bearing deposits		93,639		225		0.96			93,997		233		1.01			97,101		282		1.15
Funds purchased		1,224		1		0.18			1,416		1		0.17			1,427		1		0.16
Securities sold under agreements to repurchase		2,632		1		0.14			1,980		-		0.10			1,965		1		0.12
Interest-bearing trading liabilities		868		8		3.76			736		6		3.38			429		4		4.14
Other short-term borrowings		2,537		3		0.48			2,853		3		0.45			1,712		3		0.69
Long-term debt		16,529		154		3.75			17,581		159		3.66			17,692		162		3.64
Total interest-bearing liabilities		117,429		392		1.34			118,563		402		1.38			120,326		453		1.49
Noninterest-bearing deposits		25,491							24,520							25,052
Other liabilities		4,240							4,222							4,319
Noninterest-bearing trading liabilities		1,800							1,786							1,963
Shareholders’ equity		22,313							22,338							22,381
Total liabilities and shareholders’ equity		$171,273							$171,429							$174,041
Interest Rate Spread						3.07	%						3.05	%						3.00	%
Net Interest Income - FTE 1				$1,208							$1,202							$1,207
Net Interest Margin 2						3.33	%						3.32	%						3.27	%

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.

³ Accruing TDRs were classified in Nonaccrual during prior periods. Due to sustained performance, accruing TDRs have been reclassified to the applicable loans category where the related interest income is being classified in all periods presented.

Page 8

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED DAILY AVERAGE BALANCES,

AVERAGE YIELDS EARNED AND RATES PAID

(Dollars in millions; yields on taxable-equivalent basis) (Unaudited)

	Twelve Months Ended														Increase/(Decrease) From
	December 31, 2010							December 31, 2009							Prior Year
	Average  Balances		Interest Income/  Expense		Yields/  Rates			Average  Balances		Interest Income/  Expense		Yields/  Rates			Average  Balances		Yields/  Rates
ASSETS
Loans:
Real estate residential mortgage 1-4 family		$29,058		$1,553		5.35	%		$29,588		$1,723		5.82	%		($530)		(0.47)	%
Real estate construction		3,402		126		3.69			5,991		198		3.31			(2,589)		0.38
Real estate home equity lines		14,912		503		3.37			15,685		523		3.34			(773)		0.03
Real estate commercial		14,578		593		4.07			15,573		639		4.11			(995)		(0.04)
Commercial - FTE 1		32,788		1,828		5.57			36,458		1,820		4.99			(3,670)		0.58
Credit Card		1,058		89		8.39			984		74		7.47			74		0.92
Consumer - direct		5,812		251		4.32			5,101		207		4.06			711		0.26
Consumer - indirect		7,530		423		5.62			6,594		418		6.34			936		(0.72)
Nonaccrual 3		4,787		39		0.81			5,067		36		0.72			(280)		0.09
Total loans		113,925		5,405		4.74			121,041		5,638		4.66			(7,116)		0.08
Securities available for sale:
Taxable		24,994		785		3.14			18,960		790		4.17			6,034		(1.03)
Tax-exempt - FTE 1		783		42		5.34			1,003		55		5.46			(220)		(0.12)
Total securities available for sale - FTE 1		25,777		827		3.21			19,963		845		4.23			5,814		(1.02)
Funds sold and securities purchased under agreements to resell		969		1		0.08			794		2		0.27			175		(0.19)
Loans held for sale		3,295		136		4.14			5,228		233		4.45			(1,933)		(0.31)
Interest-bearing deposits		26		-		0.17			25		-		0.91			1		(0.74)
Interest earning trading assets		3,195		90		2.79			3,857		115		2.99			(662)		(0.20)
Total earning assets		147,187		6,459		4.39			150,908		6,833		4.53			(3,721)		(0.14)
Allowance for loan and lease losses		(3,045)							(2,706)							(339)
Cash and due from banks		4,821							4,844							(23)
Other assets		18,268							17,355							913
Noninterest earning trading assets		2,913							3,429							(516)
Unrealized gains on securities      available for sale, net		2,231							1,612							619
Total assets		$172,375							$175,442							($3,067)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$24,668		$58		0.24	%		$23,601		$99		0.42	%		$1,067		(0.18)	%
Money market accounts		38,893		227		0.58			31,864		315		0.99			7,029		(0.41)
Savings		4,028		9		0.22			3,664		10		0.27			364		(0.05)
Consumer time		14,232		267		1.87			16,718		479		2.87			(2,486)		(1.00)
Other time		9,205		189		2.05			13,068		382		2.92			(3,863)		(0.87)
Total interest-bearing consumer and commercial deposits		91,026		750		0.82			88,915		1,285		1.45			2,111		(0.63)
Brokered deposits		2,561		110		4.29			5,648		154		2.69			(3,087)		1.60
Foreign deposits		355		-		0.13			434		1		0.12			(79)		0.01
Total interest-bearing deposits		93,942		860		0.92			94,997		1,440		1.52			(1,055)		(0.60)
Funds purchased		1,226		2		0.19			1,670		3		0.19			(444)		-
Securities sold under agreements to repurchase		2,416		4		0.15			2,483		5		0.18			(67)		(0.03)
Interest-bearing trading liabilities		833		30		3.58			487		20		4.14			346		(0.56)
Other short-term borrowings		3,014		13		0.43			2,704		15		0.54			310		(0.11)
Long-term debt		16,096		580		3.60			20,119		761		3.78			(4,023)		(0.18)
Total interest-bearing liabilities		117,527		1,489		1.27			122,460		2,244		1.83			(4,933)		(0.56)
Noninterest-bearing deposits		26,103							24,249							1,854
Other liabilities		4,097							4,387							(290)
Noninterest-bearing trading liabilities		1,814							2,060							(246)
Shareholders’ equity		22,834							22,286							548
Total liabilities and shareholders’ equity		$172,375							$175,442							($3,067)
Interest Rate Spread						3.12	%						2.70	%				0.42	%
Net Interest Income - FTE 1				$4,970							$4,589
Net Interest Margin 2						3.38	%						3.04	%				0.34	%

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 net interest income - FTE by average total earning assets.

³ Accruing TDRs were classified in Nonaccrual during prior periods. Due to sustained performance, accruing TDRs have been reclassified to the applicable loans category where the related interest income is being classified in all periods presented.

Page 9

SunTrust Banks, Inc. and Subsidiaries

OTHER FINANCIAL DATA

(Dollars in millions) (Unaudited)

	Three Months Ended												Twelve Months Ended
	December 31						Increase/(Decrease)						December 31						Increase/(Decrease)
	2010			2009			Amount			%1			2010			2009			Amount			%1
CREDIT DATA
Allowance for credit losses - beginning		$3,141			$3,082			$59			2	%		$3,235			$2,379			$856			36	%
Provision for loan losses		509			917			(408)			(44)			2,708			4,007			(1,299)			(32)
Provision for unfunded commitments		3			57			(54)			(95)			(57)			87			(144)			NM
Charge-offs
Commercial		(104)			(111)			(7)			(6)			(386)			(613)			(227)			(37)
Real estate:
Home equity lines		(138)			(168)			(30)			(18)			(591)			(715)			(124)			(17)
Construction		(80)			(180)			(100)			(56)			(447)			(507)			(60)			(12)
Residential mortgages		(252)			(336)			(84)			(25)			(1,281)			(1,236)			45			4
Commercial real estate		(39)			(3)			36			NM			(92)			(32)			60			NM
Consumer:
Direct		(12)			(14)			(2)			(14)			(50)			(57)			(7)			(12)
Indirect		(21)			(35)			(14)			(40)			(84)			(152)			(68)			(45)
Credit cards		(17)			(22)			(5)			(23)			(87)			(86)			1			1
Total charge-offs		(663)			(869)			(206)			(24)			(3,018)			(3,398)			(380)			(11)
Recoveries
Commercial		11			15			(4)			(27)			46			40			6			15
Real estate:
Home equity lines		9			13			(4)			(31)			40			30			10			33
Construction		4			1			3			NM			13			8			5			63
Residential mortgages		6			6			-			-			21			18			3			17
Commercial real estate		1			-			1			NM			(2)			4			(6)			NM
Consumer:
Direct		2			2			-			-			8			8			-			-
Indirect		7			10			(3)			(30)			33			49			(16)			(33)
Credit cards		2			1			1			100			5			3			2			67
Total recoveries		42			48			(6)			(13)			164			160			4			3
Net charge-offs		(621)			(821)			(200)			(24)			(2,854)			(3,238)			(384)			(12)
Allowance for credit losses - ending		$3,032			$3,235			($203)			(6)	%		$3,032			$3,235			($203)			(6)	%
Components:
Allowance for loan and lease losses		$2,974			$3,120			($146)			(5)	%
Unfunded commitments reserve		58			115			(57)			(50)
Allowance for credit losses		$3,032			$3,235			($203)			(6)	%
Net charge-offs to average loans (annualized)
Commercial		1.11	%		1.14	%		(0.03)	%		(3)	%		1.03	%		1.55	%		(0.52)	%		(34)	%
Real estate:
Home equity lines		3.39			3.91			(0.52)			(13)			3.60			4.29			(0.69)			(16)
Construction		7.40			11.38			(3.98)			(35)			10.72			6.76			3.96			59
Residential mortgages		3.09			4.35			(1.26)			(29)			3.91			3.89			0.02			1
Commercial real estate		1.04			0.06			0.98			NM			0.63			0.17			0.46			NM
Consumer:
Direct		0.60			0.96			(0.36)			(37)			0.72			0.96			(0.24)			(25)
Indirect		0.64			1.50			(0.86)			(57)			0.68			1.56			(0.88)			(57)
Credit cards		5.65			8.51			(2.86)			(34)			7.74			8.48			(0.74)			(9)
Total net charge-offs to total average loans		2.14			2.83			(0.69)			(24)			2.51			2.67			(0.16)			(6)
Period Ended
Nonaccrual/nonperforming loans
Commercial		$259			$484			($225)			(46)	%
Real estate:
Home equity lines		298			289			9			3
Construction		1,128			1,484			(356)			(24)
Residential mortgages		1,859			2,716			(857)			(32)
Commercial real estate		528			392			136			35
Consumer loans		38			37			1			3
Total nonaccrual/nonperforming loans		4,110			5,402			(1,292)			(24)
Other real estate owned (“OREO”)		596			620			(24)			(4)
Other repossessed assets		52			79			(27)			(34)
Total nonperforming assets		$4,758			$6,101			($1,343)			(22)	%
Restructured loans (accruing)		$2,613			$1,641			$972			59	%
Total accruing loans past due 90 days or more2		$1,565			$1,500			$65			4	%
Total nonperforming loans to total loans		3.54	%		4.75	%		(1.21)	%		(25)	%
Total nonperforming assets to total loans plus OREO, other repossessed assets, and nonperforming LHFS		4.08			5.33			(1.25)			(23)
Allowance to period-end loans		2.58			2.76			(0.18)			(7)
Allowance to nonperforming loans		72.86			58.86			14.00			24
Allowance to annualized net charge-offs		1.21	x		0.96	x		0.25	x		26

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

² Total accruing loans past due 90 days or more contain loans that are guaranteed by governmental agencies. These loans were $1.4 billion and $1.3 billion at December 31, 2010 and 2009, respectively.

Page 10

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER OTHER FINANCIAL DATA

(Dollars in millions) (Unaudited)

	Three Months Ended
	December 31   2010			September 30   2010			Increase/(Decrease)						June 30   2010			March 31   2010			December 31   2009
							Amount			%1
CREDIT DATA
Allowance for credit losses - beginning		$3,141			$3,216			($75)			(2)	%		$3,276			$3,235			$3,082
Provision for loan losses		509			620			(111)			(18)			702			877			917
Provision for unfunded commitments		3			(5)			8			NM			(40)			(15)			57
Charge-offs
Commercial		(104)			(77)			27			35			(98)			(107)			(111)
Real estate:
Home equity lines		(138)			(133)			5			4			(150)			(170)			(168)
Construction		(80)			(117)			(37)			(32)			(155)			(95)			(180)
Residential mortgages		(252)			(311)			(59)			(19)			(298)			(420)			(336)
Commercial real estate		(39)			(40)			(1)			(3)			(13)			-			(3)
Consumer:
Direct		(12)			(10)			2			20			(14)			(14)			(14)
Indirect		(21)			(18)			3			17			(18)			(27)			(35)
Credit cards		(17)			(19)			(2)			(11)			(22)			(29)			(22)
Total charge-offs		(663)			(725)			(62)			(9)			(768)			(862)			(869)
Recoveries
Commercial		11			13			(2)			(15)			11			11			15
Real estate:
Home equity lines		9			8			1			13			13			10			13
Construction		4			-			4			NM			5			4			1
Residential mortgages		6			4			2			50			5			6			6
Commercial real estate		1			-			1			NM			-			(3)			-
Consumer:
Direct		2			2			-			-			2			2			2
Indirect		7			7			-			-			9			10			10
Credit cards		2			1			1			100			1			1			1
Total recoveries		42			35			7			20			46			41			48
Net charge-offs		(621)			(690)			(69)			(10)			(722)			(821)			(821)
Allowance for credit losses - ending		$3,032			$3,141			($109)			(3)	%		$3,216			$3,276			$3,235
Components:
Allowance for loan and lease losses		$2,974			$3,086			($112)			(4)	%		$3,156			$3,176			$3,120
Unfunded commitments reserve		58			55			3			5			60			100			115
Allowance for credit losses		$3,032			$3,141			($109)			(3)	%		$3,216			$3,276			$3,235
Net charge-offs to average loans (annualized)
Commercial		1.11	%		0.77	%		0.34	%		44	%		1.06	%		1.13	%		1.14	%
Real estate:
Home equity lines		3.39			3.24			0.15			5			3.55			4.11			3.91
Construction		7.40			10.21			(2.81)			(27)			13.05			6.30			11.38
Residential mortgages		3.09			3.89			(0.80)			(21)			3.81			5.57			4.35
Commercial real estate		1.04			1.09			(0.05)			(4)			0.33			0.08			0.06
Consumer:
Direct		0.60			0.54			0.06			12			0.87			0.92			0.96
Indirect		0.64			0.56			0.08			14			0.51			0.98			1.50
Credit cards		5.65			6.81			(1.16)			(17)			7.92			10.48			8.51
Total net charge-offs to total average loans		2.14			2.42			(0.28)			(11)			2.57			2.91			2.83
Period Ended
Nonaccrual/nonperforming loans
Commercial		$259			$325			($66)			(20)	%		$368			$379			$484
Real estate:
Home equity lines		298			292			6			2			290			286			289
Construction		1,128			1,297			(169)			(13)			1,360			1,585			1,484
Residential mortgages		1,859			1,928			(69)			(4)			2,128			2,436			2,716
Commercial real estate		528			485			43			9			515			464			392
Consumer loans		38			46			(8)			(17)			38			35			37
Total nonaccrual/nonperforming loans		4,110			4,373			(263)			(6)			4,699			5,185			5,402
OREO		596			645			(49)			(8)			700			628			620
Other repossessed assets		52			51			1			2			64			70			79
Nonperforming LHFS		-			-			-			-			-			160			-
Total nonperforming assets		$4,758			$5,069			($311)			(6)	%		$5,463			$6,043			$6,101
Restructured loans (accruing)		$2,613			$2,516			$97			4	%		$2,269			$1,908			$1,641
Total accruing loans past due 90 days or more2		$1,565			$1,580			($15)			(1)	%		$1,376			$1,475			$1,500
Total nonperforming loans to total loans		3.54	%		3.80	%		(0.26)	%		(7)	%		4.16	%		4.55	%		4.75	%
Total nonperforming assets to total loans plus OREO, other repossessed assets, and nonperforming LHFS		4.08			4.38			(0.30)			(7)			4.81			5.26			5.33
Allowance to period-end loans		2.58			2.69			(0.11)			(4)			2.81			2.80			2.76
Allowance to nonperforming loans		72.86			71.07			1.79			3			67.64			61.74			58.86
Allowance to annualized net charge-offs		1.21	x		1.13	x		0.08	x		7			1.09	x		0.95	x		0.96	x

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

² Total accruing loans past due 90 days or more contain loans that are guaranteed by governmental agencies. These loans were $1.4 billion, $1.4 billion, $1.2 billion, $1.3 billion, and $1.3 billion at December 31, 2010, September 30, 2010, June 30, 2010, March 31, 2010, and December 31, 2009, respectively.

Page 11

SunTrust Banks, Inc. and Subsidiaries

OTHER FINANCIAL DATA (continued)

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

	Three Months Ended December 31										Twelve Months Ended December 31
	Core Deposit   Intangibles		Mortgage   Servicing   Rights- Amortized Cost		Mortgage   Servicing   Rights- Fair Value		Other		Total		Core Deposit   Intangibles		Mortgage   Servicing   Rights- Amortized Cost		Mortgage   Servicing   Rights- Fair Value		Other		Total
OTHER INTANGIBLE ASSET ROLLFORWARD
Balance, beginning of period		$113		$640		$783		$68		$1,604		$145		$810		$-		$80		$1,035
Designated at fair value (transfers from amortized cost)		-		-		-		-		-		-		(188)		188		-		-
Amortization		(9)		(46)		-		(3)		(58)		(41)		(217)		-		(15)		(273)
Mortgage servicing rights (“MSRs”) originated		-		-		96		-		96		-		-		682		-		682
MSRs impairment recovery		-		10		-		-		10		-		199		-		-		199
Fair value changes due to inputs and assumptions		-		-		91		-		91		-		-		161		-		161
Other changes in fair value		-		-		(34)		-		(34)		-		-		(95)		-		(95)
Other		-		-		-		2		2		-		-		-		2		2
Balance, December 31, 2009		$104		$604		$936		$67		$1,711		$104		$604		$936		$67		$1,711
Balance, beginning of period		$75		$-		$1,072		$57		$1,204		$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		(8)		-		-		(3)		(11)		(37)		-		-		(13)		(50)
MSRs originated		-		-		92		-		92		-		-		289		-		289
Fair value changes due to inputs and assumptions		-		-		368		-		368		-		-		(275)		-		(275)
Other changes in fair value		-		-		(71)		-		(71)		-		-		(238)		-		(238)
Sale of MSRs		-		-		(22)		-		(22)		-		-		(22)		-		(22)
Intangible asset obtained from sale of money market funds 1		-		-		-		11		11		-		-		-		11		11
Balance, December 31, 2010		$67		$-		$1,439		$65		$1,571		$67		$-		$1,439		$65		$1,571
	Three Months Ended
	December 31   2010		September 30   2010		June 30   2010		March 31   2010		December 31   2009
COMMON SHARE ROLLFORWARD (000’s)
Beginning balance		499,955		499,929		499,858		499,157		499,147
Common shares issued/exchanged for employee benefit plans, stock option, and restricted stock activity		481		26		71		701		10
Ending balance		500,436		499,955		499,929		499,858		499,157
COMMON STOCK REPURCHASE ACTIVITY (000’s)
Number of common shares repurchased 2		-		-		-		-		-
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

¹During 2010, the Company transferred approximately $14 billion in money market funds into funds managed by Federated Investors, Inc. in exchange for cash consideration of $7 million and a revenue-sharing agreement.

² 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 12

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															Twelve Months Ended
	December 31   2010			September 30   2010			June 30   2010			March 31   2010			December 31   2009			December 31   2010			December 31   2009
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE 8
Net income/(loss)		$185			$153			$12			($161)			($248)			$189			($1,564)
Securities (gains)/losses, net of tax		(39)			(43)			(35)			(1)			(45)			(118)			(61)
Net income/(loss) excluding securities (gains)/losses, net of tax		146			110			(23)			(162)			(293)			71			(1,625)
The Coca-Cola Company stock dividend, net of tax		(12)			(12)			(12)			(12)			(11)			(47)			(44)
Net income/(loss) excluding securities (gains)/losses and The Coca-Cola Company stock dividend, net of tax		134			98			(35)			(174)			(304)			24			(1,669)
Preferred dividends, Series A		(2)			(2)			(2)			(2)			(2)			(7)			(14)
U.S. Treasury preferred dividends and accretion of discount		(67)			(67)			(66)			(66)			(66)			(267)			(266)
Dividends and undistributed earnings allocated to unvested shares		(2)			-			-			-			-			(2)			17
Gain on purchase of Series A preferred stock		-			-			-			-			-			-			94
Net income/(loss) available to common shareholders excluding securities (gains)/losses and The Coca-Cola Company stock dividend		$63			$29			($103)			($242)			($372)			($252)			($1,838)
Total average assets		$174,768			$171,999			$171,273			$171,429			$174,041			$172,375			$175,442
Average net unrealized securities gains		(2,664)			(2,395)			(1,969)			(1,884)			(1,986)			(2,231)			(1,612)
Average assets less net unrealized securities gains		$172,104			$169,604			$169,304			$169,545			$172,055			$170,144			$173,830
Total average common shareholders’ equity		$18,638			$18,159			$17,387			$17,419			$17,467			$17,905			$17,219
Average accumulated other comprehensive income		(2,055)			(1,721)			(998)			(889)			(698)			(1,420)			(692)
Total average realized common shareholders’ equity		$16,583			$16,438			$16,389			$16,530			$16,769			$16,485			$16,527
Return on average total assets		0.42	%		0.35	%		0.03	%		(0.38)	%		(0.57)	%		0.11	%		(0.89)	%
Impact of excluding net realized and unrealized securities (gains)/losses and The Coca-Cola Company stock dividend		(0.11)			(0.12)			(0.11)			(0.04)			(0.13)			(0.10)			(0.07)
Return on average total assets less net unrealized securities (gains)/losses 1		0.31	%		0.23	%		(0.08)	%		(0.42)	%		(0.70)	%		0.01	%		(0.96)	%
Return on average common shareholders’ equity		2.44	%		1.83	%		(1.29)	%		(5.34)	%		(7.19)	%		(0.49)	%		(10.07)	%
Impact of excluding net realized and unrealized securities (gains)/losses and The Coca-Cola Company stock dividend		(0.91)			(1.13)			(1.24)			(0.59)			(1.62)			(1.04)			(1.05)
Return on average realized common shareholders’ equity 2		1.53	%		0.70	%		(2.53)	%		(5.93)	%		(8.81)	%		(1.53)	%		(11.12)	%
Efficiency ratio 3		66.57	%		64.80	%		69.57	%		71.60	%		74.58	%		67.94	%		79.07	%
Impact of excluding amortization/impairment of goodwill/intangible assets other than MSRs		(0.50)			(0.56)			(0.61)			(0.69)			(0.62)			(0.58)			(9.72)
Tangible efficiency ratio 4		66.07	%		64.24	%		68.96	%		70.91	%		73.96	%		67.36	%		69.35	%
Total shareholders’ equity		$23,130			$23,438			$23,024			$22,620			$22,531
Goodwill, net of deferred taxes		(6,189)			(6,192)			(6,197)			(6,202)			(6,204)
Other intangible assets including MSRs, net of deferred taxes		(1,545)			(1,174)			(1,409)			(1,761)			(1,671)
MSRs		1,439			1,072			1,298			1,641			1,540
Tangible equity		16,835			17,144			16,716			16,298			16,196
Preferred stock		(4,942)			(4,936)			(4,929)			(4,923)			(4,917)
Tangible common equity		$11,893			$12,208			$11,787			$11,375			$11,279
Total assets		$172,874			$174,703			$170,668			$171,796			$174,165
Goodwill		(6,323)			(6,323)			(6,323)			(6,323)			(6,319)
Other intangible assets including MSRs		(1,571)			(1,204)			(1,443)			(1,800)			(1,711)
MSRs		1,439			1,072			1,298			1,641			1,540
Tangible assets		$166,419			$168,248			$164,200			$165,314			$167,675
Tangible equity to tangible assets 5		10.12	%		10.19	%		10.18	%		9.86	%		9.66	%
Tangible book value per common share 6		$23.76			$24.42			$23.58			$22.76			$22.59
Net interest income		$1,266			$1,238			$1,178			$1,172			$1,177			$4,854			$4,466
Taxable-equivalent adjustment		28			28			30			30			30			116			123
Net interest income - FTE		1,294			1,266			1,208			1,202			1,207			4,970			4,589
Noninterest income		1,032			1,047			952			698			742			3,729			3,710
Total revenue - FTE		2,326			2,313			2,160			1,900			1,949			8,699			8,299
Securities gains, net		(64)			(69)			(57)			(1)			(73)			(191)			(98)
Total revenue - FTE excluding net securities (gains)/losses 7		$2,262			$2,244			$2,103			$1,899			$1,876			$8,508			$8,201

¹ SunTrust 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 income/(loss), excluding securities (gains)/losses and The Coca-Cola Company stock dividend, net of tax, by average assets less net unrealized securities (gains)/losses.

² SunTrust 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 income/(loss) available to common shareholders, excluding securities (gains)/losses and The Coca-Cola Company stock dividend, net of tax, by average realized common shareholders’ equity.

³ Computed by dividing noninterest expense by total revenue - FTE. 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.

⁴ SunTrust 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.

⁵ SunTrust 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.

⁶ SunTrust 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.

⁷ SunTrust presents total revenue - FTE excluding net 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.

⁸ 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

RECONCILEMENT OF NON-GAAP MEASURES

APPENDIX A TO THE EARNINGS RELEASE, continued

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

	Three Months Ended										Year Ended
	December 31 2010		September 30 2010		June 30 2010		March 31 2010		December 31 2009		December 31 2010		December 31 2009
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE 2
Total noninterest expense		$1,548		$1,499		$1,503		$1,361		$1,453		$5,911		$6,562
Goodwill/intangible impairment charges other than MSRs		-		-		-		-		-		-		751
Total noninterest expense excluding goodwill/intangible impairment charges other than MSRs1		$1,548		$1,499		$1,503		$1,361		$1,453		$5,911		$5,811
Net income/(loss)		$185		$153		$12		($161)		($248)		$189		($1,564)
Goodwill/intangible impairment charges other than MSRs, after tax		-		-		-		-		-		-		724
Net income/(loss) excluding goodwill/intangible impairment charges other than MSRs, after tax1		$185		$153		$12		($161)		($248)		$189		($840)
Net income/(loss) available to common shareholders		$114		$84		($56)		($229)		($316)		($87)		($1,733)
Goodwill/intangible impairment charges other than MSRs attributable to common shareholders, after tax		-		-		-		-		-		-		715
Net income/(loss) available to common shareholders excluding goodwill/intangible impairment charges other than MSRs, after tax1		$114		$84		($56)		($229)		($316)		($87)		($1,018)
Net income/(loss) per average common share, diluted		$0.23		$0.17		($0.11)		($0.46)		($0.64)		($0.18)		($3.98)
Impact of excluding goodwill/intangible impairment charges other than MSRs attributable to common shareholders, after tax		-		-		-		-		-		-		1.64
Net income/(loss) per average diluted common share, excluding goodwill/intangible impairment charges other than MSRs, after tax1		$0.23		$0.17		($0.11)		($0.46)		($0.64)		($0.18)		($2.34)
SUPPLEMENTAL INCOME STATEMENT RECONCILIATION
Net income/(loss)		$185		$153		$12		($161)		($248)		$189		($1,564)
Preferred dividends, Series A		(2)		(2)		(2)		(2)		(2)		(7)		(14)
U.S. Treasury preferred dividends and accretion of discount		(67)		(67)		(66)		(66)		(66)		(267)		(266)
Dividends and undistributed earnings allocated to unvested shares		(2)		-		-		-		-		(2)		17
Gain on purchase of Series A preferred stock		-		-		-		-		-		-		94
Net income/(loss) available to common shareholders		$114		$84		($56)		($229)		($316)		($87)		($1,733)

¹SunTrust presents noninterest expense, net income/(loss), net income/(loss) available to common shareholders, and net income/(loss) per average common diluted share that excludes the portion of the impairment charges on goodwill and intangible assets other than MSRs allocated to the common shareholders. The Company believes these measures are useful to investors, because removing the non-cash impairment charges provides a more representative view of normalized operations and the measures also allow better comparability with peers in the industry who also provide a similar presentation when applicable. In addition, management uses the measures 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 14

SunTrust Banks, Inc. and Subsidiaries

RETAIL BANKING LINE OF BUSINESS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change3			December 31   2010			December 31   2009			%   Change3
Statements of Income
Net interest income1		$640			$617			4	%		$2,540			$2,351			8	%
FTE adjustment		-			-			-			-			-			-
Net interest income - FTE		640			617			4			2,540			2,351			8
Provision for credit losses2		227			294			(23)			992			1,236			(20)
Net interest income after provision for credit losses - FTE		413			323			28			1,548			1,115			39
Noninterest income before securities gains		271			295			(8)			1,127			1,152			(2)
Securities gains, net		-			-			-			-			-			-
Total noninterest income		271			295			(8)			1,127			1,152			(2)
Noninterest expense before amortization/impairment of goodwill/intangible assets		608			595			2			2,394			2,316			3
Amortization/impairment of goodwill/intangible assets		9			9			-			39			215			(82)
Total noninterest expense		617			604			2			2,433			2,531			(4)
Income/(loss) before provision/(benefit) for income taxes		67			14			NM			242			(264)			NM
Provision/(benefit) for income taxes		24			5			NM			86			(99)			NM
FTE adjustment		-			-			-			-			-			-
Net income/(loss) including income attributable to noncontrolling interest		43			9			NM			156			(165)			NM
Less: net income attributable to noncontrolling interest		-			-			-			-			-			-
Net income/(loss)		$43			$9			NM	%		$156			($165)			NM	%
Total revenue - FTE		$911			$912			-	%		$3,667			$3,503			5	%
Selected Average Balances
Total loans		$34,544			$32,533			6	%		$33,220			$33,152			-	%
Goodwill		4,854			4,855			-			4,854			4,896			(1)
Other intangible assets excluding MSRs		78			117			(33)			92			132			(30)
Total assets		39,908			38,531			4			38,911			39,245			(1)
Consumer and commercial deposits		75,026			73,166			3			74,756			72,757			3
Performance Ratios
Efficiency ratio		67.73	%		66.23	%					66.35	%		72.25	%
Impact of excluding amortization/impairment of goodwill/intangible assets		(4.76)			(4.95)						(4.86)			(10.36)
Tangible efficiency ratio		62.97	%		61.28	%					61.49	%		61.89	%

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

DIVERSIFIED COMMERCIAL BANKING LINE OF BUSINESS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change3			December 31   2010			December 31   2009			%   Change3
Statements of Income
Net interest income1		$143			$126			13	%		$542			$465			17	%
FTE adjustment		25			27			(7)			105			107			(2)
Net interest income - FTE		168			153			10			647			572			13
Provision for credit losses2		39			28			39			127			112			13
Net interest income after provision for credit losses - FTE		129			125			3			520			460			13
Noninterest income before securities gains		60			61			(2)			226			242			(7)
Securities gains, net		-			-			-			-			-			-
Total noninterest income		60			61			(2)			226			242			(7)
Noninterest expense before amortization of intangible assets		110			120			(8)			439			468			(6)
Amortization of intangible assets		-			-			-			-			-			-
Total noninterest expense		110			120			(8)			439			468			(6)
Income before provision/(benefit) for income taxes		79			66			20			307			234			31
Provision/(benefit) for income taxes		2			(2)			NM			5			(22)			NM
FTE adjustment		25			27			(7)			105			107			(2)
Net income including income attributable to noncontrolling interest		52			41			27			197			149			32
Less: net income attributable to noncontrolling interest		-			-			-			-			-			-
Net income		$52			$41			27	%		$197			$149			32	%
Total revenue - FTE		$228			$214			7	%		$873			$814			7	%
Selected Average Balances
Total loans		$22,159			$23,138			(4)	%		$22,371			$24,399			(8)	%
Goodwill		928			928			-			928			928			-
Other intangible assets excluding MSRs		-			-			-			-			-			-
Total assets		24,374			25,544			(5)			24,662			26,769			(8)
Consumer and commercial deposits		18,772			20,592			(9)			18,501			17,644			5
Performance Ratios
Efficiency ratio		48.25	%		56.07	%					50.29	%		57.49	%
Impact of excluding amortization of intangible assets		(2.11)			(2.87)						(2.23)			(2.98)
Tangible efficiency ratio		46.14	%		53.20	%					48.06	%		54.51	%

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

COMMERCIAL REAL ESTATE LINE OF BUSINESS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change			December 31   2010			December 31   2009			%   Change
Statements of Income
Net interest income1		$38			$46			(17)	%		$162			$179			(9)	%
FTE adjustment		-			-			-			-			-			-
Net interest income - FTE		38			46			(17)			162			179			(9)
Provision for credit losses2		98			172			(43)			442			435			2
Net interest income after provision for credit losses - FTE		(60)			(126)			(52)			(280)			(256)			9
Noninterest income before securities gains		27			23			17			88			94			(6)
Securities gains, net		-			-			-			-			-			-
Total noninterest income		27			23			17			88			94			(6)
Noninterest expense before amortization/impairment of goodwill/intangible assets		137			116			18			471			422			12
Amortization/impairment of goodwill/intangible assets		-			-			-			-			299			(100)
Total noninterest expense		137			116			18			471			721			(35)
Loss before benefit for income taxes		(170)			(219)			(22)			(663)			(883)			(25)
Benefit for income taxes		(87)			(106)			(18)			(333)			(299)			11
FTE adjustment		-			-			-			-			-			-
Net loss including income attributable to noncontrolling interest		(83)			(113)			(27)			(330)			(584)			(43)
Less: net income attributable to noncontrolling interest		-			-			-			-			-			-
Net loss		($83)			($113)			(27)	%		($330)			($584)			(43)	%
Total revenue - FTE		$65			$69			(6)	%		$250			$273			(8)	%
Selected Average Balances
Total loans		$8,607			$11,492			(25)	%		$9,757			$12,507			(22)	%
Goodwill		-			-			-			-			74			(100)
Other intangible assets excluding MSRs		-			-			-			-			-			-
Total assets		9,586			12,572			(24)			10,796			13,630			(21)
Consumer and commercial deposits		1,422			2,116			(33)			1,561			1,888			(17)
Performance Ratios
Efficiency ratio		210.77	%		168.12	%					188.40	%		264.10	%
Impact of excluding amortization/impairment of goodwill/intangible assets		-			-						-			(111.31)
Tangible efficiency ratio		210.77	%		168.12	%					188.40	%		152.79	%

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.

Page 17

SunTrust Banks, Inc. and Subsidiaries

CORPORATE AND INVESTMENT BANKING LINE OF BUSINESS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change3			December 31   2010			December 31   2009			%   Change3
Statements of Income
Net interest income1		$108			$80			35	%		$379			$302			25	%
FTE adjustment		-			-			-			1			2			(50)
Net interest income - FTE		108			80			35			380			304			25
Provision for credit losses2		13			13			-			50			248			(80)
Net interest income after provision for credit losses - FTE		95			67			42			330			56			NM
Noninterest income before securities gains		223			114			96			670			611			10
Securities gains, net		-			-			-			-			-			-
Total noninterest income		223			114			96			670			611			10
Noninterest expense before amortization of intangible assets		141			119			18			490			481			2
Amortization of intangible assets		-			-			-			-			-			-
Total noninterest expense		141			119			18			490			481			2
Income before provision for income taxes		177			62			NM			510			186			NM
Provision for income taxes		64			23			NM			187			68			NM
FTE adjustment		-			-			-			1			2			(50)
Net income including income attributable to noncontrolling interest		113			39			NM			322			116			NM
Less: net income attributable to noncontrolling interest		-			-			-			-			-			-
Net income		$113			$39			NM	%		$322			$116			NM	%
Total revenue - FTE		$331			$194			71	%		$1,050			$915			15	%
Selected Average Balances
Total loans		$11,914			$10,506			13	%		$11,225			$12,842			(13)	%
Goodwill		180			180			-			180			180			-
Other intangible assets excluding MSRs		-			-			-			-			-			-
Total assets		21,906			18,409			19			20,387			21,414			(5)
Consumer and commercial deposits		7,128			5,722			25			6,617			5,855			13
Performance Ratios
Efficiency ratio		42.60	%		61.34	%					46.67	%		52.57	%
Impact of excluding amortization of intangible assets		(0.14)			(0.34)						(0.34)			(0.47)
Tangible efficiency ratio		42.46	%		61.00	%					46.33	%		52.10	%

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 18

SunTrust Banks, Inc. and Subsidiaries

MORTGAGE LINE OF BUSINESS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change3			December 31   2010			December 31   2009			%   Change
Statements of Income
Net interest income1		$107			$109			(2)	%		$427			$499			(14)	%
FTE adjustment		-			-			-			-			-			-
Net interest income - FTE		107			109			(2)			427			499			(14)
Provision for credit losses2		226			296			(24)			1,183			1,125			5
Net interest income after provision for credit losses - FTE		(119)			(187)			(36)			(756)			(626)			21
Noninterest income before securities losses		124			(7)			NM			523			717			(27)
Securities losses, net		-			(2)			(100)			(2)			(31)			(94)
Total noninterest income		124			(9)			NM			521			686			(24)
Noninterest expense before amortization/impairment of goodwill/intangible assets		281			262			7			1,089			1,139			(4)
Amortization/impairment of goodwill/intangible assets		-			-			-			-			279			(100)
Total noninterest expense		281			262			7			1,089			1,418			(23)
Loss before benefit for income taxes		(276)			(458)			(40)			(1,324)			(1,358)			(3)
Benefit for income taxes		(106)			(177)			(40)			(504)			(366)			38
FTE adjustment		-			-			-			-			-			-
Net loss including income attributable to noncontrolling interest		(170)			(281)			(40)			(820)			(992)			(17)
Less: net income attributable to noncontrolling interest		-			-			-			1			3			(67)
Net loss		($170)			($281)			(40)	%		($821)			($995)			(17)	%
Total revenue - FTE		$231			$100			NM	%		$948			$1,185			(20)	%
Selected Average Balances
Total loans		$29,572			$28,959			2	%		$29,043			$29,599			(2)	%
Goodwill		-			-			-			-			70			(100)
Other intangible assets excluding MSRs		-			-			-			-			-			-
Total assets		35,284			35,395			-			34,793			37,296			(7)
Consumer and commercial deposits		3,889			2,749			41			3,135			3,134			-
Performance Ratios
Efficiency ratio		121.65	%		262.00	%					114.87	%		119.66	%
Impact of excluding amortization/impairment of goodwill/intangible assets		-			-						-			(23.91)
Tangible efficiency ratio		121.65	%		262.00	%					114.87	%		95.75	%
Other Information
Production Data
Channel mix
Retail		$4,797			$4,434			8	%		$15,818			$24,735			(36)	%
Wholesale		1,782			2,138			(17)			6,583			12,679			(48)
Correspondent		2,074			1,849			12			6,855			12,721			(46)
Total production		$8,653			$8,421			3	%		$29,256			$50,135			(42)	%
Channel mix - percent
Retail		55	%		53	%					54	%		49	%
Wholesale		21			25						23			25
Correspondent		24			22						23			26
Total production		100	%		100	%					100	%		100	%
Purchase and refinance mix
Refinance		$6,707			$4,851			38	%		$18,637			$35,217			(47)	%
Purchase		1,946			3,570			(45)			10,619			14,918			(29)
Total production		$8,653			$8,421			3	%		$29,256			$50,135			(42)	%
Purchase and refinance mix - percent
Refinance		78	%		58	%					64	%		70	%
Purchase		22			42						36			30
Total production		100	%		100	%					100	%		100	%
Applications		$10,846			$11,918			(9)	%		$50,069			$74,422			(33)	%
Mortgage Servicing Data (End of Period)
Total loans serviced		$167,236			$178,923			(7)	%
Total loans serviced for others		134,053			146,699			(9)
Net carrying value of MSRs		1,439			1,540			(7)
Ratio of net carrying value of MSRs to total loans serviced for others		1.073	%		1.049	%

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 19

SunTrust Banks, Inc. and Subsidiaries

WEALTH AND INVESTMENT MANAGEMENT LINE OF BUSINESS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change			December 31   2010			December 31   2009			%   Change
Statements of Income
Net interest income1		$118			$109			8	%		$447			$399			12	%
FTE adjustment		-			-			-			-			-			-
Net interest income - FTE		118			109			8			447			399			12
Provision for credit losses2		17			18			(6)			61			79			(23)
Net interest income after provision for credit losses - FTE		101			91			11			386			320			21
Noninterest income before securities losses		243			207			17			822			754			9
Securities losses, net		-			(1)			(100)			-			(1)			(100)
Total noninterest income		243			206			18			822			753			9
Noninterest expense before amortization of intangible assets		240			222			8			904			849			6
Amortization of intangible assets		3			3			-			12			12			-
Total noninterest expense		243			225			8			916			861			6
Income before provision for income taxes		101			72			40			292			212			38
Provision for income taxes		35			28			25			105			80			31
FTE adjustment		-			-			-			-			-			-
Net income including income attributable to noncontrolling interest		66			44			50			187			132			42
Less: net income attributable to noncontrolling interest		6			-			-			7			-			-
Net income		$60			$44			36	%		$180			$132			36	%
Total revenue - FTE		$361			$315			15	%		$1,269			$1,152			10	%
Selected Average Balances
Total loans		$7,934			$8,190			(3)	%		$8,106			$8,351			(3)	%
Goodwill		361			353			2			361			348			4
Other intangible assets excluding MSRs		51			55			(7)			51			59			(14)
Total assets		9,040			9,017			-			9,177			9,136			-
Consumer and commercial deposits		12,688			11,899			7			11,832			11,184			6
Performance Ratios
Efficiency ratio		67.31	%		71.43	%					72.18	%		74.74	%
Impact of excluding amortization of intangible assets		(1.58)			(2.12)						(1.96)			(2.26)
Tangible efficiency ratio		65.73	%		69.31	%					70.22	%		72.48	%
Other Information (End of Period)
Assets under adminstration3
Managed (discretionary) assets		$105,079			$119,463			(12)	%
Non-managed assets		45,909			46,056			-
Total assets under administration		150,988			165,519			(9)
Brokerage assets		34,643			31,827			9
Corporate trust assets		9,833			8,093			22
Total assets under advisement		$195,464			$205,439			(5)

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 December 31, 2009 assets under management and assets under administration includes $18 billion in money market fund assets that were previously managed by RidgeWorth. SunTrust completed the sale of their money market fund business to Federated Investors, Inc. in the fourth quarter of 2010.

Page 20

SunTrust Banks, Inc. and Subsidiaries

CORPORATE OTHER AND TREASURY

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change2			December 31   2010		December 31   2009		%   Change2
Statements of Income
Net interest income		$112			$90			24	%		$357		$271		32	%
FTE adjustment		3			3			-			10		14		(29)
Net interest income - FTE		115			93			24			367		285		29
Provision for credit losses1		(108)			153			NM			(204)		829		NM
Net interest income after provision for credit losses - FTE		223			(60)			NM			571		(544)		NM
Noninterest income before securities gains		20			(24)			NM			82		42		95
Securities gains, net		64			76			(16)			193		130		48
Total noninterest income		84			52			62			275		172		60
Noninterest expense before amortization of intangible assets		19			7			NM			73		80		(9)
Amortization of intangible assets		-			-			-			-		2		(100)
Total noninterest expense		19			7			NM			73		82		(11)
Income/(loss) before provision/(benefit) for income taxes		288			(15)			NM			773		(454)		NM
Provision/(benefit) for income taxes		113			(34)			NM			269		(260)		NM
FTE adjustment		3			3			-			10		14		(29)
Net income/(loss) including income attributable to noncontrolling interest		172			16			NM			494		(208)		NM
Less: net income attributable to noncontrolling interest		2			3			(33)			9		9		-
Net income/(loss)		$170			$13			NM	%		$485		($217)		NM	%
Total revenue - FTE		$199			$145			37	%		$642		$457		40	%
Selected Average Balances
Total loans		$200			$218			(8)	%		$203		$191		6	%
Securities available for sale		26,416			24,935			6			25,946		21,268		22
Goodwill		-			(1)			100			(1)		-		(100)
Other intangible assets excluding MSRs		2			4			(50)			4		5		(20)
Total assets		34,670			34,573			-			33,649		27,952		20
Consumer and commercial deposits		763			764			-			727		702		4
Other Information
Duration of investment portfolio		3.3	%		3.0	%
Accounting net interest income interest rate sensitivity3 :
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months		0.5	%		0.5	%
Instantaneous 100 bp decrease in rates over next 12 months		(1.0)	%		(0.3)	%
Economic net interest income interest rate sensitivity3 :
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months		0.2	%		-	%
Instantaneous 100 bp decrease in rates over next 12 months		(0.9)	%		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 21

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED - SEGMENT TOTALS

(Dollars in millions)    (Unaudited)

	Three Months Ended									Twelve Months Ended
	December 31   2010			December 31   2009			%   Change1			December 31   2010			December 31   2009			%   Change1
Statements of Income
Net interest income		$1,266			$1,177			8	%		$4,854			$4,466			9	%
FTE adjustment		28			30			(7)			116			123			(6)
Net interest income - FTE		1,294			1,207			7			4,970			4,589			8
Provision for credit losses		512			974			(47)			2,651			4,064			(35)
Net interest income after provision for credit losses - FTE		782			233			NM			2,319			525			NM
Noninterest income before securities gains		968			669			45			3,538			3,612			(2)
Securities gains, net		64			73			(12)			191			98			95
Total noninterest income		1,032			742			39			3,729			3,710			1
Noninterest expense before amortization/impairment of goodwill/intangible assets		1,536			1,441			7			5,860			5,755			2
Amortization/impairment of goodwill/intangible assets		12			12			-			51			807			(94)
Total noninterest expense		1,548			1,453			7			5,911			6,562			(10)
Income/(loss) before provision/(benefit) for income taxes		266			(478)			NM			137			(2,327)			NM
Provision/(benefit) for income taxes		45			(263)			NM			(185)			(898)			(79)
FTE adjustment		28			30			(7)			116			123			(6)
Net income/(loss) including income attributable to noncontrolling interest		193			(245)			NM			206			(1,552)			NM
Less: net income attributable to noncontrolling interest		8			3			NM			17			12			42
Net income/(loss)		$185			($248)			NM	%		$189			($1,564)			NM	%
Total revenue - FTE		$2,326			$1,949			19	%		$8,699			$8,299			5	%
Selected Average Balances
Total loans		$114,930			$115,036			-	%		$113,925			$121,041			(6)	%
Goodwill		6,323			6,315			-			6,322			6,496			(3)
Other intangible assets excluding MSRs		131			176			(26)			147			196			(25)
Total assets		174,768			174,041			-			172,375			175,442			(2)
Consumer and commercial deposits		119,688			117,008			2			117,129			113,164			4
Performance Ratios
Efficiency ratio		66.57	%		74.58	%					67.94	%		79.07	%
Impact of excluding amortization/impairment of goodwill/intangible assets		(0.50)			(0.62)						(0.58)			(9.72)
Tangible efficiency ratio		66.07	%		73.96	%					67.36	%		69.35	%

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

Page 22

EX-99.2

SunTrust

Banks,

Inc.

4Q

2010

Earnings

Presentation

January 21, 2011

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, 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 presentation contains forward-looking statements. Statements regarding future levels of net interest margin, future levels of and rates of change in delinquencies, future levels of nonperforming loans and charge-offs,

the impact of legislative and regulatory changes, 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,” “potential impacts,” “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: 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 are subject to certain risks from originating, selling, and holding mortgages, including the risk that 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, and the risk of delays in the foreclosure process, both of 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 loans and lease 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

I.    HIGHLIGHTS

II.   CAPITAL

III.  FINANCIAL PERFORMANCE

Table of Contents

IV.  RISK REVIEW

V.   APPENDIX

Fourth Quarter Highlights

I. HIGHLIGHTS

3

4

Regulatory and Legislative Update

I. HIGHLIGHTS

Impacts Becoming Clearer

Comments

Potential Impact

Regulation E

SunTrust Fee Change

•

Client “opt-in”

for overdrafts

•

No charge for items < $5.00

•

$80-$120 million annual

•

$40-$50 million annual

•

Note: impacts of both items already

in 4Q 2010 run-rate and exclude

mitigating actions

Derivatives (Volcker)

•

$80 million in 2010 revenue

•

Minimal

Debit Interchange

(Durbin)

•

$332

million

in

2010

revenue

1

74% Signature / 26% Pin

•

~75% potential revenue impact

beginning

in

2H

2011

–

based

upon

current proposal and before any

mitigating actions

Deposit Insurance

•

$256 million 2010 assessment

•

Expect modest 2011 increase with

some variability in quarterly

expense

2

Capital

•

Tier 1 Common Ratio exceeds

the

7%

2019

Basel

III

target

3

•

$2.2 billion TruPS

affected by

Collins amendment

•

Ratio expected to increase

modestly under Basel III calculation

•

~170 bps Tier 1 capital

reduction over 3 years beginning

2013

4

1.

Includes consumer and commercial debit revenue

2.

Estimate prepared using current SunTrust balance sheet and SunTrust’s interpretation of the proposed regulation

3.

Based upon current estimates.  7% target includes the 4.5% minimum plus the 2.5% conservation buffer.  Does not include the 0-2.5% countercyclical buffer

4.

Impact based upon 4Q 2010 estimated risk-weighted assets

5

4Q 2010

3Q 2010

2Q 2010

1Q 2010

Estimate

Actual                 Actual

Actual

Regulatory Capital Ratios Continued to Trend Higher

Tier 1 Common Ratio

Tangible

Common

Equity

Ratio

1

Tier 1 Capital Ratio

Tier

1

Capital

Ratio

(Excl

TARP)

2

Total Capital Ratio

Book Value per Share                          

Tangible Common Book Value

per Share

1

Capital Ratio Trend

II. CAPITAL

7.70%

6.88%

13.13%

9.56%

16.68%

$35.40

$22.76

7.92%

7.18%

13.51%

9.84%

16.96%

$36.19

$23.58

8.02%

7.26%

13.58%

9.93%

16.42%

$37.01

$24.42

8.08%

7.15%

13.65%

10.00%

16.50%

$36.34

$23.76

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 3.65% to the 12/31/10 Tier 1 capital ratio, 3.65% at 9/30/10, 3.67% at 6/30/10, and 3.57% at 3/31/10

$1.9B

excess

Tier

1

Common

Ratio

Exceeds

2019

Basel

III

Standard

1

Tier 1 Common

II. CAPITAL

1.

2019 is the effective date for Basel III requirement.  Includes the 4.5% minimum standard plus the 2.5% conservation buffer; does not include a countercyclical buffer

7%

6

7

($ in millions, except per share data)

Q4 Earnings Per Share of $0.23; Net Income Before Preferred Dividends Positive for Full Year 2010

Income Statement Highlights

III.

FINANCIAL

PERFORMANCE

Net Interest Income (FTE)

Provision for Credit Losses

Noninterest Income

Total Revenue (FTE)

Total Noninterest Expense

Pre-Tax Income/(Loss)

Provision/(Benefit) for Income Taxes

Net Income/(Loss)

Preferred Dividends

Net Income/(Loss) Available to Common Shareholders

Net Income/(Loss) Per Average Common Diluted Share

% Change          % Change         

% Change

4Q 2010               3Q 2010             4Q 2009           FY 2010            FY 2009

$1,294

512

1,032

2,326

1,548

230

45

185

69

114

$0.23

$4,970

2,651

3,729

8,699

5,911

4

(185)

189

274

(87)

$(0.18)

2%

(17)%

(1)%

1%

3%

38%

NM

21%

(0)%

36%

35%

7%

(47)%

39%

19%

7%

NM

NM

NM

1%

NM

NM

8%

(35)%

1%

5%

(10)%

NM

79%

NM

(2)%

NM

NM

NM – not meaningful; changes over 100% or where results change from negative to positive or vice versa

8

2%

(0)%

(17)%

2%                              

(1)%

12%

12%

0%           

2%

5%                              

5%        

5%

0%         

(7)%      

(10)%

2%       

3%       

2%

($ 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

4Q 2010

3Q 2010

3Q 2010

4Q 2009

Annualized

% Change

III. FINANCIAL PERFORMANCE

1.

Excludes $4.2 billion of nonaccrual loans

Loan Portfolio Grew Modestly; Favorable Deposit Trends Continued

$33,067

14,738

2,839

29,789                              

13,967

6,565

8,683

1,054           

$110,702

$27,848                              

24,637        

41,711

4,087         

13,360     

8,045

119,688       

2,827       

$122,515

7%

(1)%

(69)%

7%

(6)%

47%

47%

2%           

7%

20%

19%        

19%

1%         

(28)%      

(39)%

8%       

13%       

8%

1%

(4)%

(40)%

4%

(9)%

29%

31%

6%           

1%

11%

(7)%        

22%

7%         

(14)%      

(32)%

2%       

(45)%       

0%

9

U.S. Treasury

U.S. Agency

MBS –

Agency

U.S. States and Subdivisions

MBS –

Private

Corporate & Other

Asset –

Backed Securities

Other Equity

Total AFS

4Q 2010                 3Q 2010                $ Change

Securities

Available for Sale

($ in billions, period-end balances)

Securities Portfolio

III. FINANCIAL PERFORMANCE

$6.4

1.9

17.0

0.7

0.3

0.5

0.9

2.6

$30.3

$(0.9)

-

(2.6)

(0.1)

-

-

(0.1)

0.3

$(3.4)

Portfolio

Reduced

Amidst

Rising

Rates,

Generating

$64

Million

in

Gains

Note:  Columns may not foot due to rounding

$5.5

1.9

14.4

0.6

0.3

0.5

0.8

2.9

$26.9

10

3.27%

3.32%

3.33%

3.41%

4Q 2009

1Q 2010

2Q 2010

3Q 2010

4Q 2010

Margin Expanded from Lower Funding Costs

•

Margin expanded due to

favorable deposit trends more

than offsetting lower earning

asset yields

•

Margin expected to remain

relatively stable in 1Q 2011

•

Risks to margin include: impacts

of prolonged low rate

environment, a shift in deposit

volume and mix, and loan

pricing

•

Opportunities include continued

deposit re-pricing and lower

NPAs

Net Interest Margin

III. FINANCIAL PERFORMANCE

3.44%

11

($ in millions)

Provision Declined as Credit Quality Continued to Improve

Provision For Credit Losses

III. FINANCIAL PERFORMANCE

Provision for Credit Losses

1

Net Charge-offs

Net Charge-off Ratio

Net ALLL Incr/(Decr)

2

Allowance to Loan Ratio

2

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

1.  Includes impacts of $3 million increase in unfunded  commitment  reserve in 4Q 2010 and reductions to this reserve of $5 million, $40 million and $15 million in 3Q 2010, 2Q 2010 and 1Q

2010, respectively. 4Q 2009 includes $57 million in provision for unfunded commitments

2.  Does not include unfunded commitment reserves

$974

$821

2.83%

$96

2.76%

$862

$821

2.91%

$56

2.80%

$662

$722

2.57%

$(20)

2.81%

$615

$690

2.42%

$(70)

2.69%

$512

$621

2.14%

$(112)

2.58%

12

Noninterest Income   

Net

Adjustments

1

Adjusted Noninterest Income

Sequential Quarter Drivers

Adjusted

Mortgage

Production

2

Mortgage Servicing

Adjusted

Trading

Income

2

($ in millions)

1.

Adjustment detail included in appendix, securities gains and losses are included in adjustments

2.

Adjusted

detail

included

in

appendix.

GAAP

numbers

for

Mortgage

Production

are

$41

million

and

$133

million

in

4Q

2010

and

3Q

2010,

respectively.

GAAP

numbers

for

Trading

Income

are

$93

million

and

$(22)

million

in

4Q

2010

and

3Q

2010,

respectively

Noninterest Income

III. FINANCIAL PERFORMANCE

$1,047

59 

$988

$139

132

(18)

(1)%

(6)%

$(89)

(64)

76

39%

30%

$742

30 

$712

$1,032

103 

$929

$50

68

58

Change

4Q 2010          3Q 2010          4Q 2009

3Q 2010

4Q 2009

$                       

Change

4Q 2010          3Q 2010

Diverse Revenue Stream Enabled Only Modest Sequential Decline Despite Lower Mortgage Revenues

13

…and Repurchase Request Volume Declined.

Summary Statistics

….as Pending Demands Declined in 4Q 2010….

Losses and Reserves Stabilized…

III. FINANCIAL PERFORMANCE

Mortgage Repurchase Trends

($ in Millions)

4Q 09

1Q 10

2Q 10

3Q 10

4Q 10

Period-end Balance

$326

$287

$317

$320

$293

% Non-Agency

11%

10%

5%

7%

10%

($ in Millions)

4Q 09

1Q 10

2Q 10

3Q 10

4Q 10

2005 & Prior

$15

$18

$21

$26

$20

2006

77

65

85

71

69

2007

187

168

204

134

108

2008

34

25

30

27

25

2009

9

8

8

4

7

2010

0

0

0

1

4

Total

$322

$285

$349

$263

$233

% Non-Agency

5%

4%

3%

6%

7%

Metric

(2005

–

2010

vintages)

1

Amount ($B)

Sold UPB

$204

Remaining UPB

114

Cumulative Repurchase Requests

3.4

Requests Resolved

3.1

Losses Recognized to Date

0.7

4Q 2010 Reserve

0.3

Income Statement Impact to Date

1.0

Memo:  Non-Agency UPB

$17

2

1.

Includes estimates

2.

Amount is included in the $114 billion of Remaining UPB

($ in Millions)

4Q 09

1Q 10

2Q 10

3Q 10

4Q 10

Beginning Balance

$123

$200

$210

$256

$270

Additions

220

128

148

95

85

Charge-Offs

(143)

(118)

(102)

(81)

(90)

Ending Balance

$200

$210

$256

$270

$265

14

Noninterest Expense   

Net Adjustments

1

Adjusted Noninterest Expense

Sequential

Quarter

Drivers

Employee Compensation & Benefits

Outside Processing & Software

Marketing & Customer Development

($ in millions)

1.  Adjustment detail included in appendix

Noninterest Expense

III. FINANCIAL PERFORMANCE

$1,548

15 

$1,533

$738

174

56

3%

3%

$29

17

13

7%

8%

$1,453

38 

$1,415

$1,499

12 

$1,487

$709

157

43

Change

4Q 2010          3Q 2010          4Q 2009

3Q 2010

4Q 2009

Expense

Results

$                       

Change

4Q 2010          3Q 2010

Sequentially Higher Expenses due Primarily to Investments for Future Growth

15

Asset Quality Metrics

IV. RISK REVIEW

($ in millions)

Asset Quality Continued to Improve in All Key Metrics

4Q 2010

3Q 2010

2Q 2010

4Q10 vs

3Q10

3Q10 vs

2Q10

Total Loans at End of Period

$115,975

$115,055

$112,925

$920

$2,130

1

2,974

3,086

3,156

(112)

(70)

Net Charge-offs

621

690

722

(69)

(32)

Provision Expense

2

512

615

662

(103)

(47)

NPAs

4,758

5,069

5,463

(311)

(394)

NPLs

to Total Loans

3.54%

3.80%

4.16%

(0.26)

(0.36)

NPAs

to Total Loans + OREO/OA

4.08%

4.38%

4.81%

(0.30)

(0.43)

ALLL to Loans

2.58%

2.69%

2.81%

(0.11)

(0.12)

NCOs (Annualized to Average Loans)

2.14%

2.42%

2.57%

(0.28)

(0.15)

30-89 Days Past Due

1.18%

1.24%

1.26%

(0.06)

(0.02)

30-89 Days Past Due

(excluding federally

guaranteed student loans and GNMA

repurchases)

0.90%

0.96%

0.98%

(0.06)

(0.02)

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

Allowance for Loans & Lease Losses

16

Loan Portfolio

IV. RISK REVIEW

1.

Approximately

91%

of

the

student

loan

portfolio

was

government-guaranteed

at

December

31,

2010

and

September

30,

2010

($ in millions)

Total Loans $115,975

Asset Quality Issues Remain Concentrated in Real Estate Secured Portfolios

Balance

% of

Balance

C/O Ratio

C/O Ratio

30-89 DLQ%

30-89 DLQ%

4Q 2010

Portfolio

3Q 2010

4Q 2010

3Q 2010

4Q 2010

3Q 2010

Commercial

$34,064

29%

$32,847

1.11%

0.77%

0.18%

0.21%

Commercial Real Estate

14,542

13%

14,813

1.04%

1.09%

0.39%

0.62%

Consumer Direct -

Student Loans 1

4,673

4%

4,437

0.49%

0.33%

8.32%

8.14%

Consumer Direct -

Other

1,965

2%

2,055

0.98%

0.84%

0.66%

0.62%

Total Consumer -

Direct 

6,638

6%

6,492

0.60%

0.54%

6.05%

5.76%

Consumer -

Indirect

9,291

8%

8,165

0.64%

0.56%

0.79%

0.80%

Credit Cards

980

1%

1,003

5.65%

6.81%

2.35%

2.37%

Real Estate Home Equity Lines

15,040

13%

15,292

3.39%

3.24%

1.23%

1.36%

Real Estate 1-4 Family

31,572

27%

32,003

3.09%

3.89%

1.80%

1.74%

Real Estate Construction

3,848

3%

4,440

7.40%

10.21%

0.68%

0.92%

Total SunTrust 

$115,975

100%

$115,055

2.14%

2.42%

1.18%

1.24%

Total SunTrust -

excluding federally guaranteed

student loans and GNMA repurchases 

$111,021

100%

$110,406

2.22%

2.48%

0.90%

0.96%

17

1.  Excludes $1 million of mark-to-market loans held for sale in 4Q 2010 and $12 million for 3Q 2010

2.  Does not include nonaccruals   

3.  GNMA  repurchases are FHA/VA guaranteed loans that were repurchased from GNMA securities.  30-89 DLQ $ equaled $30 million at 4Q 2010 and  $27 million at 3Q 2010

Residential Mortgages $31,572

Residential Mortgages

IV. RISK REVIEW

($ in millions)

Asset Quality Remained Stable; Balances in Higher Risk Segments Continued to Decline

Portfolio Profile

Credit Quality Metrics

Type

4Q 2010

Balance

% of

Total

3Q 2010

Balance

4Q 2010

NPL

1

3Q 2010

NPL

1

4Q 2010

30-89 DLQ

%

2

3Q 2010

30-89 DLQ

%

2

GNMA

Repurchases

3

$684

2%

$609

-

-

-

-

Alt-A 2

nd

152

<1%

164

$14

$19

6.09%

5.95%

Alt-A 1

st

527

2%

552

131

143

4.97%

4.33%

Lot Loans

814

3%

867

174

192

3.65%

2.58%

Home Equity

Loans

1,608

5%

1,701

62

60

2.87%

2.64%

Prime 2

nd

2,400

8%

2,529

58

65

1.98%

2.31%

Core Portfolio

25,387

80%

25,582

1,418

1,438

1.49%

1.45%

Total

$31,572

100%

$32,003

$1,858

$1,916

1.80%

1.74%

18

Home Equity Lines $15,040 

Portfolio Profile

Credit Quality Metrics

Type

4Q 2010

Balance

% of

Total

3Q 2010

Balance

4Q 2010

Charge-off

4

%

3Q 2010

Charge-off

4

%

4Q 2010

30-89 DLQ

%

3Q 2010

30-89 DLQ

%

3

rd

Party

Origin

ated

$1,342

9%

$1,394

9.44%

9.63%

2.68%

3.40%

CLTV

>

80%

1

(Florida)

1,602

11%

1,642

6.98%

7.02%

1.93%

2.26%

CLTV

>

90%

2

1,394

9%

1,439

4.02%

3.79%

1.53%

1.58%

Core

Portfolio

3

10,702

71%

10,817

1.98%

1.66%

0.93%

0.94%

Total

$15,040

100%

$15,292

3.39%

3.24%

1.23%

1.36%

Home Equity Lines

IV. RISK REVIEW

($ in millions)

Asset Quality Stable; Higher Risk Balances Declined

    1.  Excludes 3   party originated

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

    3.  Excludes 3rd party originated, Florida CLTV>80% and CLTV 90+% 

    4.  Annualized quarterly rate

rd

19

($ in millions)

Construction $3,848

IV. RISK REVIEW

Construction

Risk Continues to Be Managed Down, with Balances and NPLs Declining

Portfolio Profile

Credit Quality Metrics

Type

4Q 2010

Balance

% of

Total

3Q 2010

Balance

4Q 2010

NPL

3Q 2010

NPL

4Q 2010

30-89 DLQ

%

3Q 2010

30-89 DLQ

%

Construction

Perm

$461

12%

$546

$112

$133

2.73%

2.65%

Residential

Construction

559

15%

712

227

308

0.32%

0.77%

Residential A&D

684

18%

818

365

413

0.73%

1.05%

Residential Land

335

9%

377

199

192

-

0.57%

Commercial

Construction

1,089

28%

1,220

107

131

0.12%

0.64%

Commercial A&D

262

7%

308

56

64

0.02%

0.06%

Commercial Land

457

12%

459

62

57

1.32%

0.46%

Total

$3,848

100%

$4,440

$1,128

$1,297

0.68%

0.92%

20

IV. RISK REVIEW

TDR Composition

($ in millions)

Troubled Debt Restructures $3,618

Mortgage and Consumer Loans are 97% of Accruing TDRs; 86% are Current on Principal and

Interest Payments

Accruing TDRs

Non-Accruing TDRs

Total TDRs

Payment Status

4Q 2010

Balance

% of

Total

4Q 2010

Balance

% of

Total

4Q 2010

Balance

% of

Total

Current

$2,245

86%

$293

29%

$2,538

70%

30 DPD

176

7%

33

3%

209

6%

60 DPD

108

4%

43

4%

151

4%

90 DPD

73

3%

41

4%

114

3%

120+ DPD

9

<1%

595

59%

605

17%

Total

$2,613

100%

$1,005

100%

$3,618

100%

21

•

Provision expense, net charge-offs, nonperforming loans, and early-stage delinquencies all

declined.  Further declines in early stage delinquencies are contingent upon improvement in

general economic conditions

•

Individual portfolios showed generally stable to improving trends; as in prior periods, losses

were centered in consumer real estate related and construction portfolios

•

Mortgage and home equity portfolio credit quality remained stable overall, with a continued

reduction in higher risk portfolio balances

•

Construction risk continued to be aggressively managed down

•

Accruing restructured loans (TDRs) continued to perform reasonably well, while balances

increased by a modest 4% to $2.6 billion

•

For the first quarter of 2011, a modest decline in net charge-offs and nonperforming loans

from fourth quarter levels is expected

Credit Summary

IV. RISK REVIEW

Improvement in Asset Quality Continued

22

Appendix

23

$742

73

-

(5)

(38)

(8)

(3)

11

30

$712

($ in millions)

Total Noninterest Income

Securities Gains/(Losses)

Stable

River

Gain

–

Other

Income

Fair

Market

Adjustments

–

Trading                   

STI Debt Valuation-Trading

Fair

Value

Adjustments

–

Mortgage

Production   

Auction

Rate

Securities

–

Trading  

LOCOM

MSR

Recovery

–

Mortgage

Servicing

Net Adjustments

Adjusted Noninterest Income

Noninterest Income Reconciliation

V. APPENDIX

%                   %

Change        Change

4Q 2010     3Q 2010       4Q 2009       3Q 2010       4Q 2009

(1)%

(6)%

39%

30%

$1,047

69

-

17

(22)

(6)

1

-

59

$988

$1,032

64

13

30

16

(9)

(11)

-

103

$929

24

$(68)

(8)

$(60)

$133

(6)

$139

$41

(9)

$50

($ in millions)

Mortgage Production Income

Fair

Value

Adjustments

–

Mortgage

Production   

Adjusted Mortgage Production Income

Mortgage Production and Trading Income Reconciliation

V. APPENDIX

%                   %

Change        Change

4Q 2010     3Q 2010       4Q 2009       3Q 2010       4Q 2009

NM

NM

(69)%

(64)%

$(31)

(5)

(38)

(3)

$15

$(22)

17

(22)

1

$(18)

$93

30

16

(11)

$58

Trading Income

Fair Market Value Adjustments

STI Debt Valuation

Auction Rate Securities

Adjusted Trading Income

NM

NM

NM

NM

25

Total Noninterest Expense

Net Loss/(Gain) on Debt Extinguishment

AHG Write-down (Other Exp)

Net Adjustments

Adjusted Noninterest Expense

Change

4Q 2010        3Q 2010        4Q 2009

3Q 2010

4Q 2009

%

($ in millions)

Noninterest Expense Reconciliation

V. APPENDIX

3%

3%

7%

8%

$1,453

24

14

38

$1,415

$1,499

12

-

12

$1,487

$1,548

4

11

15

$1,533

26

Credit

Related

Expense

Mortgage Reinsurance

Operating Losses

Credit & Collections (Other Exp)

Other Real Estate (Other Exp)

Total Credit Related

Additional Noninterest Expense Disclosures

V. APPENDIX

$

Change 

4Q 2010         3Q 2010        4Q 2009          3Q 2010

4Q 2009

($ in millions)

Totals may not foot due to rounding

$7

27

69

77

$180

$2

26

71

90

$189

$10

26

76

62

$174

$(5)

(1)

2

13

$9

$(8)

0

(5)

28

$15

27

(As of 12/31/10, $ in millions)

Nonaccruals that have been through the

specific write-down process

Loan Type

Balance

before

write-

down

-

Amount  

of write-

down

=

Non-

accruals

with               

write-down

+

Non-

accruals not

requiring

write-down

2

+

Non-

accruals

without   

specific

write-down  

=

Total

non-

accruals

3

% Loss

severity

Alt-A

2

nd

$89

$(81)

$8

$0

$6

$14

90.9%

Alt-A

1

st

147

(58)

89

7

34

131

37.5%

Lot Loans

292

(178)

114

33

27

174

54.8%

Prime

2

nd

437

(437)

-

-

58

58

100.0%

Core

Portfolio

1,367

(548)

818

176

349

1,343

35.5%

Total

$2,332

$(1,303)

$1,029

$217

$475

$1,721

Residential Mortgage

V. APPENDIX

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 are loans that are well-secured 

3. Excludes Home Equity nonaccruals of $62 million, $1 million of mark-to-market loans held for sale and $74 million of residential real estate loans managed on commercial  system

Nonaccrual Balances Decreased; 67% of Nonaccruals Have Been Through the Write-Down Process

1

28

Reconciliation of Non GAAP Measures

V. APPENDIX

($ in millions, except per share data)

December 31

September 30

June 30

March 31

December 31

2010

2010

2010

2010

2009

Total shareholders' equity               

$23,130

$23,438

$23,024

$22,620

$22,531

Goodwill, net of deferred taxes                    

(6,189)

(6,192)

(6,197)

(6,202)

(6,204)

Other intangible assets including MSRs, net of deferred taxes

(1,545)

(1,174)

(1,409)

(1,761)

(1,671)

MSRs

1,439

1,072

1,298

1,641

1,540

Tangible equity             

16,835

17,144

16,716

16,298

16,196

Preferred stock

(4,942)

(4,936)

(4,929)

(4,923)

(4,917)

Tangible common equity

$11,893

$12,208

$11,787

$11,375

$11,279

Total assets                

$172,874

$174,703

$170,668

$171,796

$174,165

Goodwill                

(6,323)

(6,323)

(6,323)

(6,323)

(6,319)

Other intangible assets including MSRs

(1,571)

(1,204)

(1,443)

(1,800)

(1,711)

MSRs

1,439

1,072

1,298

1,641

1,540

Tangible assets                

$166,419

$168,248

$164,200

$165,314

$167,675

Tangible equity to tangible assets              

10.12

%

10.19

%

10.18

%

9.86

%

9.66

%

Tangible common equity to tangible assets

7.15

%

7.26

%

7.18

%

6.88

%

6.73

%

Tangible book value per common share

$23.76

$24.42

$23.58

$22.76

$22.59

Three Months Ended