Suntrust Banks 8-K Results of Operations and Financial Condition

L. Phillip Humann
Chairman and CEO

Smith Barney Citigroup

Financial Services Conference

January 2005

This presentation contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include, but are not limited to,
statements about the benefits of the merger between SunTrust Banks, Inc. (“SunTrust”) and
National Commerce Financial Corporation (“NCF”), including future financial and operating
results, SunTrust’s plans, objectives, expectations and intentions and other statements that
are not historical facts. Such statements are based upon the current beliefs and expectations
of SunTrust’s management and are subject to significant risks and uncertainties. Actual results
may differ from those set forth in the forward-looking statements. The following factors, among
others, could cause actual results to differ from those set forth in the forward-looking
statements: the risk that the cost savings and any revenue synergies from the merger may not
be fully realized or may take longer to realize than expected; disruption from the merger
making it more difficult to maintain relationships with clients, employees or suppliers;
increased competition and its effects on pricing, spending, third-party relationships and
revenues; the risk of new and changing regulation in the U.S. and internationally. Additional
factors that could cause SunTrust’s results to differ materially from those described in the
forward-looking statements can be found in the 2003 Annual Reports on Form 10-K of
SunTrust and NCF, and in the Quarterly Reports on Form 10-Q and 10-Q/A of SunTrust and
NCF filed with the Securities and Exchange Commission and available at the Securities and
Exchange Commission’s internet site (http://www.sec.gov). The forward-looking statements in
this presentation speak only as of the date of the filing, and SunTrust does not assume any
obligation to update the forward-looking statements or to update the reasons why actual
results could differ from those contained in the forward-looking statements.

This presentation could include some non-GAAP measures to describe SunTrust’s
performance. The reconciliation of those measures to GAAP measures can be found in
SunTrust’s earnings press release, on SunTrust’s website in the press release section of the
Investor Relations pages and in the appendix of this presentation.

TRANSLATING POTENTIAL INTO PERFORMANCE

Potential

Revenue and earnings momentum

Industry-leading credit quality

Strong LOB & sales results

Performance

High growth geographic footprint

Distinctive operating model

Sales and revenue focus

Investments for the future

TRANSLATING POTENTIAL INTO PERFORMANCE

Highest growth markets for Top 20

banks; 61% better than the national

average*

Top 5 rank in 20 of 25 largest high

growth markets in Southeast

#3 in market share in Southeast

Top 20 U.S. banks and thrifts by market cap as of July 16, 2004.
Weighted average based on MSA deposits. Source: SNL Financial

2003-2008 Projected

Weighted Average

Population Growth

8.7%

5.3%

Sun Trust

National Average

Distinctive Operating Model

Deliver “big bank” capabilities with local
decisions and responsiveness

Decisions close to customer

True client management

Ability to serve all segments

Strong Footprint

*

*

TRANSLATING POTENTIAL INTO PERFORMANCE

Ongoing Strategic Focus

Placing highest priority on sales and client
retention

Aligning top talent to key leadership
positions

Implementing new LOB revenue initiatives

Developing Capabilities
2000-2004

Streamlined administrative structure and
implemented series of operational initiatives

Introduced new geographic structure and
operating model

Focused on efficiency, ability to
deliver common customer experience

EPS Growth Back on Track

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

5.50

0.37

0.10

0.09

0.07

0.14

0.06

Growth   = 8.3%

CAGR   = (0.6)%

EPS  

CAGR     = 10.1%

GAAP EPS

Reduction in EPS due to merger-related charges

(1)         EPS as originally reported and adjusted for stock splits. There are no adjustments for merger pooling.

(2)         CAGR and growth based on GAAP EPS excluding merger-related charges

CAGR   = 11.5%

0.05

⁽²⁾

⁽¹⁾

⁽²⁾

⁽²⁾

⁽²⁾

CORE REVENUE GROWTH PER SHARE IMPROVING VERSUS
PEERS

$

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

4Q 02

1Q 03

2Q 03

3Q 03

4Q 03

1Q 04

2Q 04

3Q 04

4Q 04

STI = 9% Growth
Peers = 10% Growth

STI = 2% Growth
Peers = flat

Core revenue per share is calculated by dividing total revenue excluding securities gains and losses by average diluted shares for the quarter. The
Company believes core revenue is more indicative of the Company’s performance because it isolates income that is primarily customer relationship and
customer transaction driven.

Total Revenue Growth for SunTrust was 27% 4Q 04 over 4Q 03 and 7% for 4Q 03 over 4Q 02, on a historical combined basis total revenue growth for
SunTrust was 5% 4Q 04 over 4Q 03

Wells Fargo, AmSouth, National City, Wachovia, US Bancorp, Fifth Third, Bank of America, KeyCorp, PNC, Comerica, Northern Trust, BB&T and Mellon. Numbers presented
are averages

(1)

(2)

Peers*

SunTrust

Source: SNL

*

(2)

(2)

(1)

FEE INCOME GROWTH PER SHARE IMPROVING VERSUS
PEERS⁽¹⁾⁽²⁾

4Q 02

1Q 03

2Q 03

3Q 03

4Q 03

1Q 04

2Q 04

3Q 04

4Q 04

For more data on fee income and reconciliations, please refer to the appendix of this presentation

Fee Income excludes securities gains and losses.  Fee income per share is calculated by dividing fee income by average diluted shares for the quarter.  
The Company believes fee income without securities gains/losses is more indicative of the Company's performance because it isolates income that is
primarily customer relationship and customer transaction driven.

Wells Fargo, AmSouth, National City, Wachovia, US Bancorp, Fifth Third, Bank of America, KeyCorp, PNC, Comerica, Northern Trust, BB&T and
Mellon.  Numbers presented are averages

(1)

(2)

Peers*

SunTrust

Source: SNL

*

$

0.00

2.50

STI = 16% Growth
Peers = 18% Growth

STI = 8% Growth
Peers = 1% Growth

2.00

1.50

1.00

0.50

NET INTEREST MARGIN TRENDS

3.5%

3.0%

2.5%

2.0%

1.5%

3Q01

4Q01

1Q03

1Q02

4Q02

2Q02

3Q02

2Q03

3Q03

4Q03

1Q04

2Q04

3Q04

4Q04

3.56%

3.56%

3.51%

3.48%

3.38%

3.26%

3.21%

3.05%

2.98%

3.09%

3.13%

3.13%

3.11%

3.21%

3.12%

(1)

4.0%

(1) NCF added 9 b.p., organic margin improved 1 b.p.

Estimated Historical Combined⁽³⁾

10

24

34

31

Mortgage loans

13

14

82

33

Low cost deposits⁽²⁾

12%

8%

89%

29%

Deposits⁽²⁾

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

Highlights

LOAN AND DEPOSIT GROWTH⁽¹⁾⁽²⁾

Real Estate Equity

Total Loans

63

26

135

8

32

78

28

8

120,000

100,000

80,000

60,000

40,000

20,000

0

Deposits

Loans

4Q 03

1Q 04

2Q 04

4Q 04

3Q 04

(1)

(3)

(2)

For more data on deposits and loans and reconciliations, please refer to the appendix of this presentation

Deposits = Consumer and Commercial Deposits, Low Cost Deposits = Demand Deposits + NOW + Savings

See appendix for reconciliations. SunTrust provides estimated historical combined information to facilitate a more
appropriate computation of the organic growth of the combined organization

($ in millions)

$

INDUSTRY LEADING CREDIT QUALITY⁽¹⁾

NPAs/(Loans+OREO+Repos)

NCOs/Average Loans

1.20

1.00

0.80

0.60

0.40

0.20

0.00

4Q02

1Q03

2Q03

3Q03

4Q03

1Q04

2Q04

3Q04

4Q04

4Q 02

1Q 03

2Q 03

3Q 03

4Q 03

1Q 04

2Q 04

3Q 04

4Q 04

0.70

0.60

0.50

0.40

0.30

0.20

0.00

0.10

(1) For more data on credit quality, please refer to the appendix of this presentation
(2) The peer averages obtained from SNL exclude repossessed assets

Wells Fargo, AmSouth, National City, Wachovia, US Bancorp, Fifth Third, Bank of America, KeyCorp, PNC,
Comerica, Northern Trust, BB&T and Mellon. Numbers presented are averages

Source: SNL

Peers*⁽²⁾

SunTrust

*

FOCUS ON EFFICIENCY

62.02

60.35

57.47

56.12

57.99

59.99

61.39

60.94

(1)

1998

1999

2000

2001

2002

2003

2004

70

65

55

25

35

50

30

60

40

45

20

Year over Year Growth Trends

Revenue Growth

Expense Growth

Sequential Annualized Growth Trends

Core Revenue Growth⁽³⁾

4%

1%

7%

1999

2000

2001

2002

2003

2004

3Q 04

4Q 04

2

(3)

flat

9

6

6

4

7

3

2

6

4

12

15

15

4

1

6

6  ⁽²⁾

flat⁽²⁾

7  ⁽²⁾

Reflected Revenue
Slowdown

(1)

(2)

(3)

Excluding merger related expenses, see appendix for reconciliations

Estimated historical combined basis.  Expense growth excludes merger related expenses and amortization of intangibles, see appendix for reconciliations

SunTrust presents total revenue excluding realized securities gains/losses.  The Company believes total revenue without
securities gains/losses is more indicative of the Company's performance because it isolates income that is primarily customer relationship and customer
transaction driven.

TRANSLATING POTENTIAL INTO PERFORMANCE
Retail

Leverage our merger with National Commerce Financial to capture market share in
new markets

Enhance existing Consumer Lending and Business Banking delivery channels
by implementing the SunTrust Operating Model

Continue to emphasize the Perfect Client Experience in each Retail delivery channel

Enhance online experience and capabilities including Integrated Customer
Experience and Online Treasury Management Platform for Business Banking
clients

Engage clients in performing a “Money Makeover” to meet unvoiced needs

Expand Consumer Lending Home Equity products outside of the SunTrust footprint

Continued growth in the Equity Wholesale and Mortgage Cross-sell channels

Continue to grow branch network over next three years in high-growth markets

60-80 locations in 2005 with specific emphasis on Wal-Mart opportunities

Capture fair share of the Business Banking segment

Focus on increasing SBA originations

Partner with Branch Banking to drive a continuous
focus on Business Client acquisition and retention

Potential

Performance

11%

35,709

Net Income Growth

12%

2,898,414

Loan Growth

4%

$1,866,870

Deposit Growth

% Growth

$  Growth**

3Q 2004:3Q 2003*

* 4Q 04 not available until the 10-K is published

** Deposit and loan growth based on average balances for the quarter, in thousands

Long Term Growth
Rate Target:  8 – 10%

TRANSLATING POTENTIAL INTO PERFORMANCE
Commercial

Potential

Long Term Growth
Rate Target:  8 – 10%

Sustainmarket share gains through continued emphasis on strategic dialogue
with clients, service excellence and industry specialization competencies

Capture greater share of business in each stage of client lifecycle

Utilize internal resources to provide capital in early growth stages

Capitalize on high market share and customer satisfaction to build
relationships with mature clients and prospects

Provide succession planning and wealth monetization options
through LOB partners

Leverage the Commercial sales teams to achieve consistent levels of cross
sales across regions

Focus on Capital Markets and Institutional Trust services

Build on strong Treasury Management and Commercial Card sales
performance

Deepen commercial relationships with Private
Banking services

Improve yields and spreads on loan transactions
through improved profit modeling and pricing governance

Performance

(4)%

(6,744)

Net Income Growth

5%

1,081,472

Loan Growth

14%

$1,517,520

Deposit Growth

% Growth

$  Growth**

3Q 2004:3Q 2003*

* 4Q 04 not available until the 10-K is published

** Deposit and loan growth based on average balances for the quarter, in thousands

TRANSLATING POTENTIAL INTO PERFORMANCE
Corporate and Investment Banking

Enhance Capital Markets product capabilities that support 9-11% long-
term growth of CIB’s bottom line

Invest in current and new product capabilities to ensure that we
have ‘competitive’ products for key client segments

Drive revenue from CIB, Commercial and PCS client bases

Improve the effectiveness of our relationship management process
across all client bases

Develop a more dynamic Client Planning Process to enhance our
strategic positioning with our top tier clients

Implement a new client segmentation model (Tier 1, 2, 3) to
improve coverage on clients that represent the greatest value
proposition

Maintain the strong credit culture in CIB that allows us to
deliver ‘best in class’ performance

Performance

Potential

43%

42,418

Net Income Growth

(21)%

(3,487,340)

Loan Growth

9%

$271,786

Deposit Growth

% Growth

$ Growth**

3Q 2004:3Q 2003*

* 4Q 04 not available until the 10-K is published

** Deposit and loan growth based on average balances for the quarter, in thousands

Long Term Growth
Rate Target:  9 – 11%

TRANSLATING POTENTIAL INTO PERFORMANCE
Wealth & Investment Management

Aggressively expand and retain SunTrust share of emerging
wealth segments:

Enhance strategies and tactics to attract and retain
baby boomer retirement assets (including rollover)

Improve use of financial planning discipline to uncover
client needs and better position our broker capabilities

Expand Client Retention programs into SunTrust Securities,
Wealth Management, Retirement Services,
Trusco and Endowment and Foundations

Focus on growing insurance business

Integrate successful Private Banking units into Private
Wealth Management for a more comprehensive approach to
Wealth Management

Exceed the investment performance and service
expectations of our institutional clients

Performance

Potential

25%

11,036

Net Income Growth

11%

225,508

Loan Growth

36%

$542,210

Deposit Growth

% Growth

$ Growth**

3Q 2004:3Q 2003*

* 4Q 04 not available until the 10-K is published

** Deposit and loan growth based on average balances for the quarter, in thousands

Long Term Growth
Rate Target:  12 – 14%

TRANSLATING POTENTIAL INTO PERFORMANCE
Mortgage

Grow the sales force in all channels

Improve client satisfaction and profitability by reducing
the time elapsed between application and shipping

Continue to improve service quality, thereby improving
borrower retention

Strengthen our product offerings and distribution

capabilities:

Affiliated Business Arrangements

Second Lien Lending

Alternative Credit

Construction / Permanent Financing

Partner with Retail to improve the penetration rate of
mortgages within the STI client base and the sales of
banking products to mortgage borrowers

Performance

Potential

(15)%

(11,012)

Net Income Growth

40%

5,309,521

Loan Growth

(39)%

$(851,932)

Deposit Growth

% Growth

$ Growth**

3Q 2004:3Q 2003*

* 4Q 04 not available until the 10-K is published

** Deposit and loan growth based on average balances for the quarter, in thousands

Long Term Growth
Rate Target:  8 – 10%

LONG TERM GROWTH INITIATIVES RECAP

8 - 10%

Commercial

8 - 10%

SunTrust

8 - 10%

Mortgage

12 - 14%

Wealth & Investment
Management

9 - 11%

Corporate and Investment
Banking

8 - 10%

Retail

Long Term Growth
Rate Target

Business Line

SALES FOCUS PAYING OFF⁽¹⁾

Retail

Private Client Services

Mortgage

Equity line sales
were up35% over
4Q03

Retail investment
sales up20% over
4Q03

Mortgage
closing volume
($s) up26%
over 4Q03

Corp and Investment
Banking

Commercial

SunTrust Online

Debt Capital Markets
fees up51% over
4Q03

Deposit balances up
16% over 4Q03

New deposit
accounts (#s) up
21%

(1)           These numbers represent legacy SunTrust

INTEGRATION TIMELINE SUMMARY

To date, we’ve successfully completed more than 44 % of the merger
   integration milestones (812 of 1,865 total integration milestones).

Regulatory Approval (8/04-9/04)

Change control process installed
(9/04)

Shareholder Approval (9/15/04)

Customer and employee impacts
cataloged

Leadership positions identified
8/31/04, 9/22/04

Added five new banking regions
Memphis, South Carolina, Triad,
Triangle, Mecklenburg) 7/19/04

NCF Consumer and Small
Business checking product rolled
out to SunTrust legacy footprint

Established and communicated
management positions:

Group LOBs

Region Presidents

Region LOBs

Market Presidents

Group Functional support

Commercial Team leads

Region Credit and Marketing

Operations unit managers

All revenue producing
relationships

Legal Closing
10/1/04

Procurement rollout 10/6/04
(anticipate $10MM in savings
by 2006)

Divestiture of deposits of $65
million and 3 branches
12/10/04

Migration to common pricing
begins (anticipate $25MM
incremental revenue by
2006)

Mitigation plans developed
for all customer and
employee impacts

Network connectivity and
infrastructure

Sequenced
Systems
Conversions
Begins

Completed Systems
Conversions:

Fixed Assets

Treasury

PCS Brokerage &
Insurance

Payroll/Benefits

Accounts Payable

Officer Knowledge

General Ledger

Non-Systems
Conversion
Begins

NCF ATM/Debit  
Card Release

Buddy Bankers
Onsite

Store signage  
installation

Complete Core
conversion

Trust Conversion

Bank Operations
Standard
Operational
Authorities
implementation

Branch consolidations
begin 4/22/05

Data center consolidation

3Q04

4Q04

1Q05

2Q05

3Q05

Ongoing Employee
Communications

FOCUSED ON RETAINING CUSTOMERS

Three-phase customer analysis
identifying effects of integration
on the customer so mitigation
activities can be planned to
promote retention and client
satisfaction

Phase I complete – over
one million households
analyzed with 80%
showing minimal or no
impact.

Phases II and III include
additional analysis, action
plan development and
special analysis in support
of conversion weekend

Comprehensive
communications program
designed to inform customers
of merger-related events or
changes.

Recent customer mailings:

Over one million
welcome letters

Securities letters and
other early conversion
communications

Upcoming major mailings
include:

Branch consolidations

Product/pricing letters
in March

Customer remediation plans
include phone follow-up,
employee communication,
training, and scripting.

Retention teams in all LOBs
are developing programs based
on results of the customers
profile analysis.

A Service Quality Excellence
Scorecard is produced monthly
that monitors 49 key service
measures across all lines of
business and major corporate
functions.

Activities scheduled in
planned waves

Special promotions

Sales opportunities

Client retention tracking
underway; will continue for
12-month period

Examples of key measures:

Telephone banking
average speed of
answer (ASA)

ATM availability

Mortgage client
satisfaction survey
scores

Action plans are in place to
ensure service quality is
maintained in all critical
areas

Customer Impact
Assessment

Communications

Retention
Implementation

Measurement and
Monitoring

BUILDING WITH PROVEN TALENT

Key Accomplishments

Key NCF Managers named in combined organization:

Bill Reed, former CEO of NCF, named vice chairman and head of Geographic
Banking(Florida, Central, Mid Atlantic, and the Carolinas) and Sales Administration.

Richard Furr, former chief operating officer at NCF, was named chairman, president and
CEO of the Carolinas Group.

Scott Edwards, former NCF chief administrative officer, was named Carolinas Group
credit officer

David Popwell, former executive vice president for Financial Enterprises at NCF, was
named chairman and CEO of the Memphis Region and Executive for specialty
businesses.

Integrated NCF organizational structure, major business lines and support functions into the
overall SunTrust organization.

Placed more than 160 NCF managers within in a geography, a business line or a support area

Mapped all NCF revenue producers to SunTrust position (over 3,200 positions)

Guaranteed positions to all branch personnel.

Created an Employee Experience team comprised of NCF and STI employees across lines of
business, functions and geographies focused on employee communications, retention, morale,
and merger readiness.

TRANSLATING POTENTIAL INTO PERFORMANCE

Potential

Revenue and earnings momentum

Industry-leading credit quality

Strong LOB & sales results

Performance

High growth geographic footprint

Distinctive operating model

Sales and revenue focus

Investments for the future

APPENDIX

SunTrust presents a return on average assets and return on average realized equity which exclude realized and unrealized securities gains/losses and dividends from The Coca-
Cola Company. The foregoing numbers reflect primarily adjustments to remove the effects of the Company's securities portfolio which includes the ownership by the Company of
48.3 million 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 customer relationship and customer transaction driven. The Company also believes that the return on
average realized equity is more indicative of the Company's return on equity because the excluded equity relates primarily to a long term holding of a specific security

Annualized
SunTrust presents selected financial data on an operating basis that excludes merger charges. The Company believes the exclusion of the merger charges, which represent
incremental costs to integrate NCF’s operations, is more reflective of normalized operations

EARNINGS MOMENTUM

(442) b.p.

(348) b.p.

16.02

16.96

12.54

Return on Avg.
Realized Equity⁽¹⁾

(275) b.p.

(247) b.p.

(322)b.p.

(294) b.p.

14.40

14.68

11.46

Return on Avg. Equity

flat

14 b.p.

1.04

1.18

1.18

Return on Avg. Assets less net
realized securities gains⁽¹⁾

5 b.p.

11 b.p.

1 b.p.

7 b.p.

1.09

1.15

1.16

Return on Avg. Assets

3%⁽²⁾

8%

(12)%⁽²⁾

4%

1.21

1.30

1.26

Earnings per Share

114%⁽²⁾

38%

94%⁽²⁾

33%

$342.5

$368.8

$455.7

Net Income

4Q04 : 3Q04
Sequential
Change⁽³⁾

4Q04 : 4Q03
Change⁽³⁾

4Q04 : 3Q04
Sequential
Change

4Q04 : 4Q03
Change

4Q 2003

3Q 2004

4Q 2004

($ in millions except per share data)

(1)

(3)

(2)

FEE INCOME GROWTH

Estimated Historical
Combined⁽¹⁾

4%

10%

78%

30%

273.6

298.3

356.8

Deposits and Other Fees

79%

12%

161%

32%

120.1

113.3

159.9

Broker Dealer Revenue

(12)%

10%

29%

24%

$129.6

$149.7

$160.5

Trust and Investment Mgmt.

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q 2003

3Q 2004

4Q 2004

($ in millions)

Fee income growth momentum continuing

(1) See appendix for reconciliations

LOAN GROWTH

Driven by targeted sales initiatives

($ in millions)

8%

8%

78%

26/30%

79,370.1

83,753.2

100,137.5

Total Loans

28%

32%

135%

63%

6,740.7

8,238.6

11,016.4

Real Estate Equity

(3)%

4%

90%

28%

12,035.0

12,549.7

15,368.5

Consumer

(10)%

3%

8,435.0

8,882.9

8,661.6

Indirect

332%

86%

3,600.0

3,666.8

6,706.9

Direct

10%

24%

34%

31%

17,117.4

20,722.7

22,461.0

Mortgages

11%

7%

125%

36%

13,650.9

14,169.7

18,601.8

RE Comm. &Const

366%

108%

4,364.4

4,727.8

9,054.6

RE Construction

5%

3%

9,286.5

9,441.9

9,547.2

RE Commercial

5%

(3)%

66%

10/19%

$29,289.1

$27,630.5

$32,223.1

Commercial

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q 2003

3Q 2004

4Q 2004

(1)

See appendix for reconciliations

(2)

The addition of direct and indirect

(3)

Higher growth rate adjusted for consolidation of Three Pillars

(3)

(2)

CUSTOMER DEPOSIT GROWTH

($ in millions)

13%

14%

82%

33%

36,937.3

40,914.4

49,261.7

Total low cost
deposits⁽²⁾

12%

8%

89%

29%

70,312.6

74,121.8

90,601.4

TOTAL⁽¹⁾

21%

4%

225%

52%

11,101.5

10,773.0

16,832.7

CDs

(42)%

2%

39%

30%

6,248.9

7,424.7

8,139.3

SAV

5%

1%

37%

10%

22,273.8

22,434.4

24,507.0

MMA

42%

20%

121%

40%

12,102.3

12,999.5

16,940.7

NOW

16%

14%

72%

30%

$18,586.1

$20,490.2

$24,181.7

DDA

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q04:3Q04
(Annualized)

4Q2004:
4Q2003

4Q 2003

3Q 2004

4Q 2004

Estimated Historical Combined⁽³⁾

(1)

Average quarterly Consumer and Commercial Deposits (excludes Broker & Foreign Deposits)

(2)

Total of DDA, NOW, Savings

(3)

See appendix for reconciliations

STRONG CREDIT QUALITY

3.4

4.0

6.0

4.4

4.9

Allowance to Charge-
offs (Years Coverage)

268.1%

309.7%

299.7%

315.7%

281.3%

Allowance to Non-
performing loans

$941,922

$936,972

$902,243

$892,974

$1,050,024

Allowance for loan
losses

0.47%

0.42%

0.39%

0.36%

0.40%

NPAs to
Loans/OREO/Other repo

$378,097

$331,912

$324,420

$304,216

$410,658

NPAs

0.35%

0.30%

0.19%

0.24%

0.21%

Net Charge-offs to Avg.
Loans

$69,787

$58,787

$37,556

$51,043

$53,893

Net Charge-offs

    4Q2003

       1Q2004

          2Q2004

     3Q2004

      4Q2004

($ in thousands)

Average Diluted Shares

Outstanding

Fee Income excluding securities

gains and losses

Fee Income excluding securities

RECONCILIATIONS APPENDIX

1,879,268

1,539,580

1,516,779

1,454,063

1,442,072

1,387,768

1,375,969

1,338,633

1,325,518

Core Revenue*

19,377

18,193

9,048

(4,927)

(19,501)

(31,098)

(31,238)

(42,039)

(39,547)

Securities losses/(gains)

1,859,891

1,521,387

1,507,731

1,458,990

1,461,573

1,418,866

1,407,207

1,380,672

1,365,065

Total Revenue

1,100,888

893,695

885,066

863,904

877,501

844,388

810,415

833,013

837,341

Net Interest Income-FTE

16,684

16,821

12,637

12,256

11,981

11,588

10,902

10,543

10,240

FTE adjustment

778,380

645,885

631,713

590,159

564,571

543,380

565,554

505,620

488,177

19,377

18,193

9,048

(4,927)

(19,501)

(31,098)

(31,238)

(42,039)

(39,547)

Securities losses/(gains)

759,003

627,692

622,665

595,086

584,072

574,478

596,792

547,659

527,724

Fee Income

1,084,204

876,874

872,429

851,648

865,520

832,800

799,513

822,470

827,101

Net Interest Income

5.18

5.43

5.36

5.13

5.10

4.93

4.91

4.76

4.67

Core Revenue Per Share

362,661

283,502

283,116

283,523

282,537

281,567

280,287

281,330

283,595

1,879,268

1,539,580

1,516,779

1,454,063

1,442,072

1,387,768

1,375,969

1,338,633

1,325,518

Core Revenue*

1,100,888

893,695

885,066

863,904

877,501

844,388

810,415

833,013

837,341

Net Interest Income-FTE

$778,380

$645,885

$631,713

$590,159

$564,571

$543,380

$565,554

$505,620

$488,177

4Q 04

3Q 04

2Q 04

1Q 04

4Q 03

3Q 03

2Q 03

1Q 03

4Q 02

(Dollars and shares in thousands except per share amounts)

* Also known as total revenue excluding securities gains and losses

gains and losses

RECONCILIATIONS APPENDIX

* Also known as total revenue excluding securities gains and losses

6,389.7

5,544.4

5,347.5

5,192.2

4,915.4

4,923.0

4,619.2

Core Revenue*

6,389.7

5,544.4

5,347.5

5,192.2

4,915.4

4,923.0

4,619.2

Core Revenue*

41.7

(123.9)

(204.5)

(153.1)

(6.6)

109.1

(8.2)

Securities losses/(gains)

6,348.0

5,668.3

5,552.0

5,345.3

4,922.0

4,813.9

4,627.4

Total Revenue

58.4

45.0

39.5

40.8

39.9

42.5

44.4

FTE Adjustment

3,685.2

3,320.3

3,243.7

3,252.6

3,108.5

3,145.5

2,929.1

Net Interest Income

41.7

(123.9)

(204.5)

(153.1)

(6.6)

109.1

(8.2)

Securities losses/(gains)

$2,604.4

$2,303.0

$2,268.8

$2,051.9

$1,773.6

$1,625.9

$1,653.9

Fee Income

2004

2003

2002

2001

2000

1999

1998

(Dollars in millions)

RECONCILIATIONS APPENDIX

Quarter - to - Quarter Comparison																						YTD Comparison
	4th Quarter 2004				3rd Quarter 2004				2nd Quarter 2004				1st Quarter 2004				4th Quarter 2003					December 31
																						2004				2003
NON-GAAP MEASURES
(Dollars in thousands)
Net income	$	455,729			$	368,766			$	386,571			$	361,835			$	342,507			$	1,572,901			$	1,332,297
Securities losses/(gains), net of tax		12,595				11,825				5,881				(3,203	)			(12,676	)			27,099				(80,519	)
Net income excluding securities gains and losses		468,324				380,591				392,452				358,632				329,831				1,600,000				1,251,778
The Coca-Cola Company dividend, net of tax		(10,739	)			(10,740	)			(10,739	)			(10,740	)			(9,451	)			(42,957	)			(37,803	)
Net income excluding securities gains and losses and The Coca-Cola Company dividend	$	457,585			$	369,851			$	381,713			$	347,892			$	320,380			$	1,557,043			$	1,213,975
Total average assets	$	156,570,092			$	127,127,968			$	127,287,458			$	123,853,747			$	124,756,099			$	133,754,293			$	122,325,361
Average net unrealized securities gains		(2,056,737	)			(2,054,978	)			(2,803,917	)			(2,580,304	)			(2,363,948	)			(2,372,246	)			(2,343,015	)
Average assets less net unrealized securities gains	$	154,513,355			$	125,072,990			$	124,483,541			$	121,273,443			$	122,392,151			$	131,382,047			$	119,982,346
Total average equity	$	15,818,968			$	9,992,905			$	10,194,201			$	9,840,282			$	9,435,794			$	11,469,482			$	9,083,026
Average other comprehensive income		(1,304,553	)			(1,318,332	)			(1,804,833	)			(1,645,712	)			(1,503,355	)			(1,517,227	)			(1,486,125	)
Total average realized equity	$	14,514,415			$	8,674,573			$	8,389,368			$	8,194,570			$	7,932,439			$	9,952,255			$	7,596,901
Return on average total assets		1.16		%		1.15		%		1.22		%		1.18		%		1.09		%		1.18		%		1.09		%
Impact of excluding net realized and unrealized securities gains/losses and The Coca-Cola Company dividend		0.02				0.03				0.01				(0.03	)			(0.05	)			0.01				(0.08	)
Return on average total assets less net realized and unrealized securities gains/losses and The Coca-Cola Company dividend1		1.18		%		1.18		%		1.23		%		1.15		%		1.04		%		1.19		%		1.01		%
Return on average total shareholders’ equity		11.46		%		14.68		%		15.25		%		14.79		%		14.40		%		13.71		%		14.67		%
Impact of excluding net unrealized securities gains		1.08				2.28				3.05				2.28				1.62				1.94				1.31
Return on average realized shareholders’ equity2		12.54		%		16.96		%		18.30		%		17.07		%		16.02		%		15.65		%		15.98		%
Net interest income	$	1,084,204			$	876,874			$	872,429			$	851,648			$	865,520			$	3,685,155			$	3,320,303
FTE adjustment		16,684				16,821				12,637				12,256				11,981				58,398				45,014
Net interest income - FTE		1,100,888				893,695				885,066				863,904				877,501				3,743,553				3,365,317
Noninterest income		759,003				627,692				622,665				595,086				584,072				2,604,446				2,303,001
Total revenue		1,859,891				1,521,387				1,507,731				1,458,990				1,461,573				6,347,999				5,668,318
Securities losses/(gains)		19,377				18,193				9,048				(4,927	)			(19,501	)			41,691				(123,876	)
Total revenue excluding securities gains and losses	$	1,879,268			$	1,539,580			$	1,516,779			$	1,454,063			$	1,442,072			$	6,389,690			$	5,544,442

¹ Computed by dividing annualized net income, excluding securities gains/losses and The Coca-Cola Company dividend, by average assets less net unrealized securities gains.

² Computed by dividing annualized net income, excluding securities gains/losses and The Coca-Cola Company dividend, by average realized shareholders’ equity.

RECONCILIATIONS APPENDIX

	4th Quarter 2004					YTD December 31 2004
SELECTED NON-GAAP OPERATING MEASURES3
(Dollars in thousands)
Net income		$	455,729				$	1,572,901
Merger expense, net of tax			18,461					18,461
Operating net income			474,190					1,591,362
Securities losses/(gains), net of tax			12,595					27,099
The Coca-Cola Company dividend, net of tax			(10,739	)				(42,957	)
Operating net income excluding securities gains/
losses and The Coca-Cola Company dividend		$	476,046				$	1,575,504
Noninterest expense		$	1,148,992				$	3,897,038
Merger expense			(28,401	)				(28,401	)
Noninterest expense excluding merger expense		$	1,120,591				$	3,868,637
Return on average total assets			1.16		%			1.18		%
Impact of excluding merger expense			0.04					0.01
Operating return on average total assets4			1.20		%			1.19		%
Return on average total shareholders’ equity			11.46		%			13.71		%
Impact of excluding merger expense			0.47					0.16
Operating return on average total shareholders’ equity5			11.93		%			13.87		%
Efficiency ratio			61.78		%			61.39		%
Impact of excluding merger expense			(1.53	)				(0.45	)
Operating efficiency ratio			60.25		%			60.94		%
Diluted earnings per share		$	1.26				$	5.19
Impact of excluding merger expense			0.05					0.06
Operating diluted earnings per share		$	1.31				$	5.25

3 SunTrust presents selected financial data on an operating basis that excludes merger charges. The Company believes the exclusion of the merger charges, which represent incremental costs to integrate NCF's operations, is more reflective of normalized operations.

4 Computed by dividing annualized operating net income by average total assets.

5 Computed by dividing annualized operating net income by average total shareholders' equity.

RECONCILIATIONS APPENDIX

Quarter - to - Quarter Comparison
		4th Quarter 2004			4th Quarter 2003				Change %
	NON-GAAP DISCLOSURES FOR IMPACTS OF THREE
	PILLARS1
	(Dollars in millions)
	Average loans - reported	$	100,137		$	79,370			26.2
	Impact of Three Pillars		-			(2,243	)
	Average loans excluding Three Pillars	$	100,137		$	77,127			29.8
	Average earning assets - reported	$	136,450		$	112,730			21.0
	Impact of Three Pillars		-			(2,699	)
	Average earning assets excluding Three Pillars	$	136,450		$	110,031			24.0
	Average commercial loans - reported	$	32,223		$	29,289			10.0
	Impact of Three Pillars		-			(2,243	)
	Average commercial loans excluding Three Pillars	$	32,223		$	27,046			19.1
	Average commercial loan yield - reported		4.45	%		3.58		%	24.3
	Impact of Three Pillars		-			0.11
	Average commercial loan yield excluding Three Pillars		4.45	%		3.69		%	20.6
	Net interest margin - reported		3.21	%		3.09		%	3.9
	Impact of Three Pillars		-			0.06
	Net interest margin excluding Three Pillars		3.21	%		3.15		%	1.9

Quarter - to - Quarter Comparison
	4th Quarter 2004		3rd Quarter 2004		Change %2		4th Quarter 2004		4th Quarter 2004	Change %
REVENUE GROWTH RATE
(Dollars in thousands)
Total revenue excluding securities gains and losses	$	1,879,268	$	1,539,580	22.1	$	1,879,268	$	1,442,072	30.3
AVERAGE LOW COST CONSUMER AND COMMERCIAL DEPOSIT RECONCILEMENT
(Dollars in thousands)
Demand deposits	$	24,181,729	$	20,490,191	18.0	$	24,181,729	$	18,586,159	30.1
NOW accounts		16,940,751		12,999,444	30.3		16,940,751		12,102,292	40.0
Savings		8,139,263		7,424,698	9.6		8,139,263		6,248,917	30.3
Total average low cost consumer and commercial deposits	$	49,261,743	$	40,914,333	20.4	$	49,261,743	$	36,937,368	33.4

1 Under the provisions of FASB Interpretation No. 46, SunTrust consolidated its commercial paper conduit, Three Pillars, effective July 1, 2003.
As of March 1, 2004, Three Pillars was restructured and deconsolidated. Adjustments were made to reported figures for comparability purposes.

2 Multiply by 4 to calculate sequential annualized growth or reductions discussed in the earnings call.

RECONCILIATIONS APPENDIX

	Quarter - to - Quarter Comparison								Quarter - to - Quarter Comparison
	4th Quarter 2004		3rd Quarter 2004		Increase/(Decrease)				4th Quarter 2004		4th Quarter 2003		Increase/(Decrease)
					Amount		%						Amount		%
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	1,084,204	$	1,071,689	$	12,515	1.2	%4	$	1,084,204	$	1,060,948	$	23,256	2.2
Provision for loan losses		37,099		60,818		(23,719)	(39.0	)		37,099		82,668		(45,569)	(55.1	)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		1,047,105		1,010,871		36,234	3.6			1,047,105		978,280		68,825	7.0
NONINTEREST INCOME
Deposit and other fees1		356,777		353,573		3,204	0.9			356,777		323,081		33,696	10.4
Trust and investment management income		160,526		165,603		(5,077)	(3.1	)		160,526		145,856		14,670	10.1
Broker / dealer revenue2		158,888		132,650		26,238	19.8			158,888		141,677		17,211	12.1
Other noninterest income		102,189		106,550		(4,361)	(4.1	)		102,189		62,324		39,865	64.0
Noninterest income before securities (losses)/gains		778,380		758,376		20,004	2.6			778,380		672,938		105,442	15.7
Securities (losses)/gains		(19,377)		(16,565)		(2,812)	(17.0	)		(19,377)		22,839		(42,216)	(184.8	)
Total noninterest income		759,003		741,811		17,192	2.3			759,003		695,777		63,226	9.1
NONINTEREST EXPENSE
Personnel expense		612,861		605,325		7,536	1.2			612,861		591,575		21,286	3.6
Net occupancy expense		78,218		79,875		(1,657)	(2.1	)		78,218		73,766		4,452	6.0
Outside processing and software		81,368		75,449		5,919	7.8			81,368		69,871		11,497	16.5
Equipment expense		50,765		50,904		(139)	(0.3	)		50,765		52,926		(2,161)	(4.1	)
Marketing and customer development		34,389		34,975		(586)	(1.7	)		34,389		27,574		6,815	24.7
Other noninterest expense		231,231		242,693		(11,462)	(4.7	)		231,231		200,602		30,629	15.3
Noninterest expense before amortization of intangible assets and merger expense		1,088,832		1,089,221		(389)	(0.0	)		1,088,832		1,016,314		72,518	7.1
Amortization of intangible assets		31,759		28,132		3,627	12.9			31,759		30,716		1,043	3.4
Merger expense		28,401		-		28,401	100.0			28,401		-		28,401	100.0
Total noninterest expense		1,148,992		1,117,353		31,639	2.8			1,148,992		1,047,030		101,962	9.7
INCOME BEFORE INCOME TAXES		657,116		635,329		21,787	3.4			657,116		627,027		30,089	4.8
Provision for income taxes		201,387		198,926		2,461	1.2			201,387		195,019		6,368	3.3
NET INCOME FROM CONTINUING OPERATIONS		455,729		436,403		19,326	4.4			455,729		432,008		23,721	5.5
Income from discontinued operations, net of tax		-		-		-	-			-		767		(767)	(100.0	)
NET INCOME		455,729		436,403		19,326	4.4			455,729		432,775		22,954	5.3
Merger expense, net of tax		18,461		-		18,461	100.0			18,461		-		18,461	100.0
OPERATING NET INCOME	$	474,190	$	436,403	$	37,787	8.7	%	$	474,190	$	432,775	$	41,415	9.6
REVENUE (Dollars in thousands)
Net interest income	$	1,084,204	$	1,071,689	$	12,515	1.2	%	$	1,084,204	$	1,060,948	$	23,256	2.2
FTE adjustment3		16,684		19,063		(2,379)	(12.5	)		16,684		14,027		2,657	18.9
Net interest income – FTE		1,100,888		1,090,752		10,136	0.9			1,100,888		1,074,975		25,913	2.4
Noninterest income		759,003		741,811		17,192	2.3			759,003		695,777		63,226	9.1
Total revenue		1,859,891		1,832,563		27,328	1.5			1,859,891		1,770,752		89,139	5.0
Securities losses/(gains)		19,377		16,565		2,812	17.0			19,377		(22,839)		42,216	184.8
Total revenue excluding securities gains and losses	$	1,879,268	$	1,849,128	$	30,140	1.6	%	$	1,879,268	$	1,747,913	$	131,355	7.5

¹ Includes service charges on deposit, cards and other charges and fees.

² Includes retail investment services, investment banking income and trading account profits and commissions.

3	NCF's FTE adjustments where reduced $4,001 from the third quarter 2004 and $4,917 from the fourth quarter of 2003 to confirm to SunTrust's methodology.
4	Multiply by 4 to calculate sequential annualized growth or reductions

RECONCILIATIONS APPENDIX

	Quarter - to - Quarter Comparison									Quarter - to - Quarter Comparison
	4th Quarter 2004		3rd Quarter 2004		Increase/(Decrease)					4th Quarter 2004		4th Quarter 2003		Increase/(Decrease)
					Amount			%						Amount			%
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans4
Commercial5	$	32,343	$	31,977	$	366		1.1	%7	$	32,343	$	33,344	$	(1,001	)	(3.0)	%
Real estate 1-4 family		22,535		21,963		572		2.6			22,535		18,213		4,322		23.7
Real estate commercial and construction		18,660		18,155		505		2.8			18,660		17,489		1,171		6.7
Real estate equity		11,016		10,295		721		7.0			11,016		8,350		2,666		31.9
Consumer6		15,390		15,520		(130	)	(0.8	)		15,390		14,812		578		3.9
Credit cards		193		175		18		10.3			193		155		38		24.5
Total loans	$	100,137	$	98,085	$	2,052		2.1	%	$	100,137	$	92,363	$	7,774		8.4	%
Average deposits
Noninterest bearing deposits	$	24,182	$	23,239	$	943		4.1	%	$	24,182	$	21,141	$	3,041		14.4	%
NOW accounts		16,941		15,335		1,606		10.5			16,941		14,139		2,802		19.8
Money market accounts		24,507		24,211		296		1.2			24,507		24,304		203		0.8
Savings		8,139		9,099		(960	)	(10.6	)		8,139		7,982		157		2.0
Consumer time		12,084		11,882		202		1.7			12,084		12,390		(306	)	(2.5	)
Other time		4,748		4,112		636		15.5			4,748		3,833		915		23.9
Total consumer and commercial deposits		90,601		87,878		2,723		3.1			90,601		83,789		6,812		8.1
Brokered and foreign deposits		10,671		11,496		(825	)	(7.2	)		10,671		12,645		(1,974	)	(15.6	)
Total deposits	$	101,272	$	99,374	$	1,898		1.9	%	$	101,272	$	96,434	$	4,838		5.0	%
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans	$	354,241	$	329,340	$	24,901		7.6	%	$	354,241	$	367,276	$	(13,035	)	(3.5)	%
Restructured loans		19,049		19,724		(675	)	(3.4	)		19,049		14,782		4,267		28.9
Total nonperforming loans		373,290		349,064		24,226		6.9			373,290		382,058		(8,768	)	(2.3	)
Other real estate owned (OREO)		28,619		27,126		1,493		5.5			28,619		44,654		(16,035	)	(35.9	)
Other repossessed assets		8,749		15,082		(6,333	)	(42.0	)		8,749		14,908		(6,159	)	(41.3	)
Total nonperforming assets	$	410,658	$	391,272	$	19,386		5.0	%	$	410,658	$	441,620	$	(30,962	)	(7.0)	%

4 SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.

5 The historical combined 4th quarter 2003 includes $2,243 related to the consolidation of SunTrust's commercial paper conduit, Three Pillars.

6 Includes consumer direct and consumer indirect loans.

7 Multiply by 4 to calculate sequential annualized growth or reductions

RECONCILIATIONS APPENDIX

	3rd Quarter 2004										4th Quarter 2003
	SunTrust				NCF			Historical Combined			SunTrust			NCF			Historical Combined
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	876,874		$	194,815		$	1,071,689		$	865,520		$	195,428		$	1,060,948
Provision for loan losses		41,774			19,044			60,818			70,286			12,382			82,668
NET INTEREST INCOME AFTER PROVISION    FOR LOAN LOSSES		835,100			175,771			1,010,871			795,234			183,046			978,280
NONINTEREST INCOME
Deposit and other fees1		298,328			55,245			353,573			273,567			49,514			323,081
Trust and investment management income		149,673			15,930			165,603			129,622			16,234			145,856
Broker / dealer revenue2		113,308			19,342			132,650			120,117			21,560			141,677
Other noninterest income		84,576			21,974			106,550			41,265			21,059			62,324
Noninterest income before securities (losses)/gains		645,885			112,491			758,376			564,571			108,367			672,938
Securities (losses)/gains		(18,193	)		1,628			(16,565	)		19,501			3,338			22,839
Total noninterest income		627,692			114,119			741,811			584,072			111,705			695,777
NONINTEREST EXPENSE
Personnel expense		527,734			77,591			605,325			516,171			75,404			591,575
Net occupancy expense		66,542			13,333			79,875			60,522			13,244			73,766
Outside processing and software		68,657			6,792			75,449			63,176			6,695			69,871
Equipment expense		43,275			7,629			50,904			45,527			7,399			52,926
Marketing and customer development		32,028			2,947			34,975			24,830			2,744			27,574
Other noninterest expense		176,020			66,673			242,693			158,189			42,413			200,602
Noninterest expense before amortization of
intangible assets		914,256			174,965			1,089,221			868,415			147,899			1,016,314
Amortization of intangible assets		15,593			12,539			28,132			16,379			14,337			30,716
Total noninterest expense		929,849			187,504			1,117,353			884,794			162,236			1,047,030
INCOME BEFORE INCOME TAXES		532,943			102,386			635,329			494,512			132,515			627,027
Provision for income taxes		164,177			34,749			198,926			152,005			43,014			195,019
NET INCOME FROM CONTINUING OPERATIONS		368,766			67,637			436,403			342,507			89,501			432,008
Income from discontinued operations, net of tax		-			-			-			-			767			767
NET INCOME	$	368,766		$	67,637		$	436,403		$	342,507		$	90,268		$	432,775
REVENUE (Dollars in thousands)
Net interest income	$	876,874		$	194,815		$	1,071,689		$	865,520		$	195,428		$	1,060,948
FTE adjustment3		16,821			2,242			19,063			11,981			2,046			14,027
Net interest income – FTE		893,695			197,057			1,090,752			877,501			197,474			1,074,975
Noninterest income		627,692			114,119			741,811			584,072			111,705			695,777
Total revenue		1,521,387			311,176			1,832,563			1,461,573			309,179			1,770,752
Securities losses/(gains)		18,193			(1,628	)		16,565			(19,501	)		(3,338	)		(22,839	)
Total revenue excluding securities gains and losses	$	1,539,580		$	309,548		$	1,849,128		$	1,442,072		$	305,841		$	1,747,913

¹ Includes service charges on deposits, card and other charges and fees.

² Includes retail investment services, investment banking income and trading account profits and commissions.

³ NCF’s FTE adjustments were reduced $4,001 from the third quarter 2004 and $4,917 from the fourth quarter of 2003 to conform to SunTrust’s methodology.

RECONCILIATIONS APPENDIX

	3rd Quarter 2004						4th Quarter 2003
	SunTrust		NCF		Historical Combined		SunTrust		NCF			Historical Combined
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans4
Commercial5	$	27,753	$	4,224	$	31,977	$	29,484	$	3,860		$	33,344
Real estate 1-4 family		20,798		1,165		21,963		17,218		995			18,213
Real estate commercial and construction		14,231		3,924		18,155		13,713		3,776			17,489
Real estate equity		8,239		2,056		10,295		6,741		1,609			8,350
Consumer6		12,574		2,946		15,520		12,074		2,738			14,812
Credit cards		158		17		175		140		15			155
Total loans	$	83,753	$	14,332	$	98,085	$	79,370	$	12,993		$	92,363
Average deposits
Noninterest bearing deposits	$	20,490	$	2,749	$	23,239	$	18,586	$	2,555		$	21,141
NOW accounts		13,000		2,335		15,335		12,102		2,037	��		14,139
Money market accounts		22,434		1,777		24,211		22,274		2,030			24,304
Savings		7,425		1,674		9,099		6,249		1,733			7,982
Consumer time		6,967		4,915		11,882		7,601		4,789			12,390
Other time		3,806		306		4,112		3,501		332			3,833
Total consumer and commercial deposits		74,122		13,756		87,878		70,313		13,476			83,789
Brokered and foreign deposits		9,341		2,155		11,496		10,769		1,876			12,645
Total deposits	$	83,463	$	15,911	$	99,374	$	81,082	$	15,352		$	96,434
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans	$	263,127	$	66,213	$	329,340	$	336,587	$	30,689		$	367,276
Restructured loans		19,724		-		19,724		14,782		-			14,782
Total nonperforming loans		282,851		66,213		349,064		351,369		30,689			382,058
Other real estate owned (OREO)		10,934		16,192		27,126		16,458		28,196			44,654
Other repossessed assets		10,431		4,651		15,082		10,270		4,638			14,908
Total nonperforming assets	$	304,216	$	87,056	$	391,272	$	378,097	$	63,523		$	441,620

⁴ SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.

⁵ SunTrust's 4th quarter 2003 includes $2,243 related to the consolidation of its commercial paper conduit, Three Pillars.

⁶ Includes consumer direct and consumer indirect loans.

 

L. Phillip Humann
Chairman and CEO

Smith Barney Citigroup

Financial Services Conference

January 2005