Suntrust Banks 8K UBS Global Financial Services Conference May 2005 | SEC 9 May 05

Mark Chancy

Chief Financial Officer

UBS Global Financial Services Conference May 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 SunTrust’s 2004 Annual Report on Form 10-K, 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 includes some non-GAAP measures to describe SunTrust’s performance. The
reconciliation of those measures to GAAP measures can be found in in the appendix of this presentation, as
well as in SunTrust’s earnings press release, which can be found on SunTrust’s website in the news section
of the investor relations pages.

SunTrust Overview

7^th largest commercial banking
organization in the U.S. with $165
billion in assets

We believe the National Commerce
transaction makes the “Best
Footprint in Banking” even better

Approximately 1,700 retail and
specialized service branches and
2,700 ATMs

2003-2008
Projected
Weighted Average
Population Growth

SunTrust Branches

National Commerce Branches

(1)

(1)

Source: SNL Financial. Note: the data reflects the 25 U.S. banks and thrifts by assets
as of December 31, 2004. Weighted average population growth is based on MSA
deposits pro forma for pending and completed acquisitions.

NCF Merger

Similar management models and cultures have made transition smooth

SunTrustoperating modelsuccessfully rolled out:

– Bill Reed named Vice Chair over all SunTrust geographies and companywide sales
management

– Carolinas Group created with four regions and new Memphis Region part of Central
Group

Systems successfully converted at over 400 branches and product capabilities in
place

Wal-Mart in-store partner strategy build-out continues -63 new Wal-Mart branches
currently in operation with 18 additional planned to be opened in 2005

Overallemployee retention has been strong

Client retention a top priority: 109,000 customer calls made by relationship managers
prior to the mid-April systems conversion and nearly 3 million conversion-related mailings
delivered by March 31^st with another 1.4 million planned in April and May

Projectedexpense efficiencies on target

SunTrust Transformation

2004

1998/99

Focused on
efficiency,
ability to
deliver
common
customer
experience

Implemented
series of
operational
initiatives and
common
systems
platform

Implemented sales
strategy referred to
as S³ + E² = Selling,
Serving, Sustaining
client relationships
through Excellence
in Execution

Placed highest
priority on sales &
client retention

Established high
performance
standards for LOBs
and geographic units

Introduced
new
geographic
structure and
operating
model

Aligned top
talent to key
leadership
positions

Intensified
local market,
client and
sales focus

Extended
footprint into
key growth
markets with
Crestar
merger

Collapsed 28
bank
charters

Streamlined
functional
organization

Implemented
new revenue
initiatives in
key
businesses

Created
process
efficiencies
and
consistency
in key
business
lines

Enhanced
Franchise

One
Bank

Take the
Lead

Profit
Acceleration

Sales Culture
Transformation

Operating Model Differentiation

LOBs design business and
product strategies with direct
feedback from the line

Geographic partners are
empowered to deliver services,
products and pricing to local
customers

Our specialty businesses that
are centrally managed effectively
use this same geographic power
in our footprint (e.g. mortgage)

Focused on delivering the whole
institution to customers on an
integrated basis

Key to SunTrust’s on-going
success

SunTrust Today

Ourfoundation is firmlyin place:

Fully functioning operating model with clear allocation of responsibilities

Key components of sales organization in place: weekly sales meetings,
sales and referral goals and linked incentives

We haveclear strategy andfocused initiatives to drive performance:

Deliver “Big Bank” capabilities with local decision making and
responsiveness

Focus on customer acquisition and retention

Drive cross-LOB referrals

Keyinitiatives are generatingtangible results

2004 LOB Accomplishments

Enhancedconsumer and small business
checking products; successfully launched
business free checking products

Increasedfocus onprivate banking
lending opportunities

Launchedenhanced home equity line
product in Mid-Atlantic and emphasized
product in all geographic markets

Launched online web referral for branch
banking andenhanced service offerings
online channel through (“STOLI”).

New personal checking accts. up8%, new
business checking up12%

Private Banking loan production up10%

New Direct Equity production increased25%

Loans/lines originated through SunTrust’s
online service up23%

New deposit accounts opened through
SunTrust’s online service up25%

Retail

Key Initiatives

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

2004 LOB Accomplishments

Commercial

Results⁽¹⁾

Key Initiatives

Enhanced focus on developing
relationship plans for key customer
segments

Adopted salesmanagement
process and installednew
technologyto support the
operating model

Launched collaborative effort
between Wealth and Investment
Management and Private Banking
to acquire new clients

Deposits up 15%

Loans up 6%

Independent research results (2002 to
2004):

Moved from #3 to #1 in market position
and lead relationships among
companies with $5MM - $250MM in
revenue within SunTrust’s geographic
markets

Within the $50MM-250MM segment,
increased from 21% to 24% lead share
on top of 6 percentage point growth
over the previous two-year period.

1,044 new relationships from team-based
mission

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

2004 LOB Accomplishments

Corporate and Investment Banking

Key Initiatives

Drove profitability and growth
through thecross-sale of capital
markets products

Focused on achievingmutual
relevance with targeted clients to
which we commit capital

Institutionalized a dynamicclient
planning process

Capital Markets Revenue cross-sold to the
Commercial and Wealth & Investment
Management LOB’s of $44.2MM, up 10%

Total Capital Markets Revenue of $354.9MM,
up $23.1MM or 7%

Corporate Banking’s newly booked credit
relationships greater than $10MM were up
49%

Corporate Banking’s credit exposure at year-
end was up $2.8 billion or 8%

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

2004 LOB Accomplishments

Wealth and Investment Management

Formed partnerships with Commercial and
Private Banking toincrease qualified
prospects andcross referrals

Increased sales staff; expandedAMA
Family Offices in Atlanta and three new
markets (Charlotte, Miami and Memphis)

Implementedfinancial planning throughout
Wealth Management and SunTrust
Securities; requiredfinancial plans for all
“A” Clients

Increasedfocus on retention initiatives;
created theclient retention specialistin
Wealth Management

Loans up 14%

Deposits up 32%

Group trust new business up 8%

Institutional new trust business up 7%

Retail Investment sales up 25%

Insurance sales up 128%

Personal Trust retention improved by 28%

Key Initiatives

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

2004 LOB Accomplishments

Mortgage

Grew purchase originationsfaster
than peer average

Increased the size of themortgage
sales force

Opened 23 new offices to expand
national footprint to 168 total Retail
offices and 17 total Wholesale offices

Continued toemphasizecross-sell
program

Focused on home equity line
production

Nearly $46 billion in total applications

Almost $27 billion in purchase
applications, up 32%

Over $30 billion in total closings

Over $17 billion in purchase closings,
up 22%

Total cross-sold/referred products up 42%

Key Initiatives

Results⁽¹⁾

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

2004 Cross-LOB Referral Results

Retail referred nearly$2.5 billion in closed mortgages to the Mortgage
LOB

Retail made 72,000 referrals to Wealth & Investment Management

Wealth & Investment Management made over26,000 referrals to Retail

Commercialgenerated over $37 million in capital markets fees, up 8%

Over186,000 total products cross-sold byMortgage, up 44%

(1)

Cross-LOB referral initiatives accelerated activity in 2004, producing tangible results.

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

New Personal Checking Sales

New Business Checking Sales

New Home Equity Sales

New Business Banking Loans Sales

Deposit Outstandings

Loan Outstandings

Retail Investment Sales

Group Trust New Business

Institutional New Trust

Private Banking Loan Production

Purchase Mortgage Closings

# Total Products Cross-Sold

Debt Capital Markets

Equity Capital Markets

CIB New Business Revenue

New Lines/Loans

New Credit Cards

New Deposit Accounts

% Increase

Retail

STOLI
SunTrust
Online

Mortgage

Wealth &
Investment
Management

CIB

2004 Sales Results

Commercial

12%

25%

12%

15%

25%

10%

22%

44%

15%

10%

23%

12%

25%

(1)

(1)

Includes only legacy SunTrust data for 2004 as compared to 2003 levels. NCF was treated as a separate line of business for 4Q 04.

Loan and Deposit Growth⁽¹⁾⁽²⁾

($ in millions)

Highlights

1Q2005:
1Q2004

Low cost deposits⁽¹⁾

Total loans

Mortgage loans

Real Estate Equity loans

29/32

11/13

1Q2005:
1Q2004

Deposits⁽¹⁾

29%

�� 9%

Est. Historical Combined

(2)

(1) Deposits = Consumer and Commercial Deposits; Low Cost Deposits = Demand Deposits + NOW + Savings.

(2) SunTrust provides estimated historical combined information to facilitate a more appropriate computation of the combined organization’s organic growth.

(3) Higher growth rate adjusted for consolidation of Three Pillars.

Reported

Commercial loans

17/24

3/8

(3)

Net Interest Margin Trend

3.12%

(1)

(1) NCF added 9 b.p., organic margin improved 1 b.p. from 3Q 04.

(2)

3.21%

(2) Day count added 4 b.p., organic margin was flat from 4Q 04.

Adjusting for the NCF impact, net interest margin has been relatively stable to improving
since the third quarter of 2003.

Net Interest Margin Compared to Peers

Peers include Bank of America, BB&T, Comerica, Fifth Third, Keycorp, M&T Bank, Mellon, National City, Northern Trust, PNC, Regions, US Bancorp, Wachovia and
Wells Fargo. Numbers presented for peers are averages.

Source: SNL Financial

Stable to improving NIM has brought SunTrust closer to the peer group average.

Strong Credit Quality

Net charge-offs

Net charge-offs to avg.
loans

NPAs

NPAs to
Loans/OREO/Other repo

Allowance for loan
losses

Allowance to non-
performing loans

Allowance to charge-
offs (years coverage)

2Q2004

3Q2004

1Q2004

$58,787

0.30%

$331,912

0.42%

$936,972

309.7%

4.0

$37,556

0.19%

$324,421

0.39%

$902,243

299.7%

6.0

$51,043

0.24%

$304,217

0.36%

$892,974

315.7%

4.4

$36,834

0.14%

$392,345

0.37%

$1,023,746

286.7%

6.9

1Q2005

($ in thousands)

4Q2004

$53,893

0.21%

$410,658

0.40%

$1,050,024

281.3%

4.9

Improving consumer and commercial credit quality trends have resulted in near historical low
NCO and NPA levels.

NCOs/Average Loans

Net charge-offs continue to compare favorably vs. peer group average.

Source: SNL Financial

Fee Income Growth

Trust and investment mgmt.

Broker/dealer revenue

Deposits and other fees

Other noninterest income

Gain on sale of RCM assets,
net of related expenses

Securities (losses)/gains

Total noninterest income

($ in millions)

$160.5

158.9

356.8

102.2

(19.4)

$759.0

$164.5

149.2

343.6

82.3

19.9

(5.7)

$753.8

21%

24%

19%

77%

27%

$136.2

119.9

287.7

46.3

4.9

$595.0

1Q 2004

1Q 2005

1Q2005:
1Q2004

4Q 2004

29%

1Q2005:
1Q2004

Est. Historical
Combined

(1)

(1) SunTrust provides estimated historical combined information to facilitate a more appropriate computation of the combined organization’s organic growth.

Reported

Including NCF in 2004 data, total noninterest income increased 5% during the first
quarter despite weak deposit fee growth.

Reported

(1)

Excluding merger related expenses and the impact of net gain on sale of RCM assets for 1Q 05.

Focus on Efficiency

(1)

Third consecutive quarter of revenue growth outpacing expense growth.

EPS Growth Back on Track

EPS⁽¹⁾

(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.

GAAP EPS

Reduction in EPS due to
merger-related charges

CAGR⁽²⁾ = 10.1%

Operating EPS

Growth⁽²⁾ = 9.4%

LOB Goals in 2005

RETAIL

Focus on growing branch network over the next 3 years in high-growth markets
with specific emphasis on Wal-Mart opportunities

Leverage the merger with NCF to capture market share in new markets

COMMERCIAL

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

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

CORPORATE AND INVESTMENT BANKING

Continue to enhance capital markets sales into Commercial and Wealth &
Investment Management client base

Increase the number of ‘intersection’ sectors and clients where our client
coverage, balance sheet, equity research and product expertise intersect.

LOB Goals in 2005

WEALTH & INVESTMENT MANAGEMENT

Partner with Retail to improve penetration rate of mortgages with the SunTrust
client base and the sale of products to mortgage borrowers

Continue to strengthen product offerings and distribution capabilities

MORTGAGE

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

Aggressively expand and retain SunTrust share of emerging wealth segments

Long Term Growth Initiatives

SunTrust Today

Ourfoundation is firmlyin place:

Fully functioning operating model with clear allocation of responsibilities

Key components of sales organization in place: weekly sales meetings,
sales and referral goals and linked incentives

We haveclear strategy andfocused initiatives to drive performance:

Deliver “Big Bank” capabilities with local decision making and
responsiveness

Focus on customer acquisition and retention

Drive cross-LOB referrals

Keyinitiatives are generatingtangible results

APPENDIX

Average Loan Growth

Commercial

RE Commercial

RE Construction

RE Comm. & Const.

Mortgages

Direct

Indirect

Consumer

Real Estate Equity

Business Credit Card

Nonaccrual and
Restructured

Total Loans

4Q 2004

1Q 2004

($ in millions)

17/24%

112%

38%

32%

92%

(4)%

24%

63%

41%

(16)%

29/32%

$33,423.9

9,537.0

9,621.2

19,158.2

23,435.7

6,767.2

8,384.4

15,151.6

11,573.7

197.7

275.0

$103,215.8

$32,223.1

9,547.2

9,054.6

18,601.8

22,461.0

6,706.9

8,661.6

15,368.5

11,016.4

192.6

274.1

$100,137.5

1Q 2005

$28,464.1

9,295.0

4,546.3

13,841.3

17,758.0

3,533.1

8,727.4

12,260.5

7,111.8

140.0

329.2

$79,904.9

15%

flat

25%

12%

18%

(13)%

(6)%

20%

10%

12%

(1) The addition of direct and indirect.

(2) Higher growth rate adjusted for consolidation of Three Pillars.

(2)

1Q2005:
1Q2004

1Q05:4Q04

3/8%

25%

31%

28%

11/13%

1Q2005:
1Q2004

Est. Historical
Combined

(1)

(2)

Reported

Annualized

(2)

Average Customer Deposit Growth

DDA

NOW

MMA

SAV

CDs

Total⁽¹⁾

Total low cost
deposits⁽²⁾

4Q 2004

1Q 2004

($ in millions)

26%

42%

12%

19%

64%

29%

30%

$23,723.1

17,479.8

24,767.4

7,506.9

17,490.6

$90,967.8

$48,709.8

$18,896.7

12,332.1

22,136.8

6,334.2

10,661.2

$70,361.0

$37,563.0

(1)

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

(2)

Total of DDA, NOW, Savings.

1Q 2005

$24,181.7

16,940.7

24,507.0

8,139.3

16,832.7

$90,601.4

$49,261.7

11%

21%

(7)%

12%

11%

1Q2005:
1Q2004

1Q05:4Q04

(8)%

13%

(31)%

16%

(4)%

1Q2005:
1Q2004

Est. Historical
Combined

Reported

Annualized

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES


	Quarter - - to - Quarter Comparison
	1st Quarter 2005			4th Quarter 2004			3rd Quarter 2004			2nd Quarter 2004			1st Quarter 2004
NON-GAAP MEASURES PRESENTED
(Dollars in thousands)
Net income	$	492,294		$	455,729		$	368,766		$	386,571		$	361,835
Securities losses/(gains), net of tax		3,509			12,595			11,825			5,881			(3,203	)
Net income excluding securities gains and losses		495,803			468,324			380,591			392,452			358,632
The Coca-Cola Company dividend, net of tax		(12,028	)		(10,739	)		(10,740	)		(10,739	)		(10,740	)
Net income excluding securities gains and losses and The Coca-Cola Company dividend	$	483,775		$	457,585		$	369,851		$	381,713		$	347,892
Total average assets	$	161,218,222		$	156,570,092		$	127,127,968		$	127,287,458		$	123,853,747
Average net unrealized securities gains		(2,032,787	)		(2,056,737	)		(2,054,978	)		(2,803,917	)		(2,580,304	)
Average assets less net unrealized securities gains	$	159,185,435		$	154,513,355		$	125,072,990		$	124,483,541		$	121,273,443
Total average equity	$	16,119,430		$	15,818,968		$	9,992,905		$	10,194,201		$	9,840,282
Average accumulated other comprehensive income		(1,285,278	)		(1,304,553	)		(1,318,332	)		(1,804,833	)		(1,645,712	)
Total average realized equity	$	14,834,152		$	14,514,415		$	8,674,573		$	8,389,368		$	8,194,570
Return on average total assets		1.24	%		1.16	%		1.15	%		1.22	%		1.18	%
Impact of excluding net realized and unrealized securities gains/losses and The Coca-Cola Company dividend		(0.01	)		0.02			0.03			0.01			(0.03	)
Return on average total assets less net unrealized securities gains¹		1.23	%		1.18	%		1.18	%		1.23	%		1.15	%
Return on average total shareholders' equity		12.39	%		11.46	%		14.68	%		15.25	%		14.79	%
Impact of excluding net unrealized securities gains		0.84			1.08			2.28			3.05			2.28
Return on average realized shareholders' equity²		13.23	%		12.54	%		16.96	%		18.30	%		17.07	%
Net interest income	$	1,111,560		$	1,084,204		$	876,874		$	872,429		$	851,648
FTE adjustment		17,666			16,684			16,821			12,637			12,256
Net interest income – FTE		1,129,226			1,100,888			893,695			885,066			863,904
Noninterest income		753,814			759,003			627,692			622,665			595,086
Total revenue		1,883,040			1,859,891			1,521,387			1,507,731			1,458,990
Securities losses/(gains)		5,659			19,377			18,193			9,048			(4,927	)
Gain on sale of RCM assets, net of related expenses		(19,874	)		—			—			—			—
Total revenue excluding securities gains and losses and net gain on sale of RCM assets³	$	1,868,825		$	1,879,268		$	1,539,580		$	1,516,779		$	1,454,063


	Quarter - - to - Quarter Comparison
	1st Quarter 2005		4th Quarter 2004		Change %⁴			1st Quarter 2005		1st Quarter 2004		Change %
AVERAGE LOW COST CONSUMER AND COMMERCIAL DEPOSIT RECONCILEMENT
(Dollars in thousands)
Noninterest bearing deposits	$	23,723,080	$	24,181,729		(1.9	)	$	23,723,080	$	18,896,711		25.5
NOW accounts		17,479,848		16,940,751		3.2			17,479,848		12,332,083		41.7
Savings		7,506,923		8,139,263		(7.8	)		7,506,923		6,334,231		18.5
Total average low cost consumer and commercial deposits	$	48,709,851	$	49,261,743		(1.1	)	$	48,709,851	$	37,563,025		29.7


									Estimated Historical Combined⁶
	1st Quarter 2005		1st Quarter 2004			Change %			1st Quarter 2005		1st Quarter 2004			Change %
NON-GAAP DISCLOSURES FOR IMPACTS OF THREE PILLARS⁵
(Dollars in millions)
Average loans – reported	$	103,216	$	79,905			29.2		$	103,216	$	93,145			10.8
Impact of Three Pillars		—		(1,430	)		(100.0	)		—		(1,430	)		(100.0	)
Average loans excluding Three Pillars	$	103,216	$	78,475			31.5		$	103,216	$	91,715			12.5
Average commercial loans – reported	$	33,424	$	28,464			17.4		$	33,518	$	32,598			2.8
Impact of Three Pillars		—		(1,430	)		(100.0	)		—		(1,430	)		(100.0	)
Average commercial loans excluding Three Pillars	$	33,424	$	27,034			23.6		$	33,518	$	31,168			7.5

SunTrust presents a return on average assets less net unrealized gains on securities. 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 return on average assets less net unrealized gains on securities is computed by dividing annualized net income, excluding securities gains/losses and The Coca-Cola Company dividend, by average assets less net unrealized securities gains.

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. The return on average realized shareholders' equity is computed by dividing annualized net income, excluding securities gains/losses and The Coca-Cola Company dividend, by average realized shareholders' equity.

SunTrust presents total revenue excluding realized securities gains and losses and the net gain on the sale of RCM assets. The Company believes total revenue without securities gains and losses is more indicative of the Company's performance because it isolates income that is primarily customer relationship and customer transaction driven. SunTrust further excludes the net gain on the sale of RCM assets because the Company believes the exclusion of the net gain is more indicative of normalized operations.


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


⁵	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.


⁶	SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES


	1st Quarter 2005			4th Quarter 2004
SELECTED NON-GAAP OPERATING MEASURES AND ADJUSTED OPERATING MEASURES¹
(Dollars in thousands)
Net income	$	492,294		$	455,729
Merger expense, net of tax		15,958			18,461
Operating net income		508,252		$	474,190
Net gain on sale of RCM assets, net of tax		(12,322	)		—
Adjusted operating net income	$	495,930		$	474,190
Diluted earnings per share	$	1.36		$	1.26
Impact of excluding merger expense		0.04			0.05
Operating diluted earnings per share		1.40			1.31
Impact of net gain on sale of RCM assets		(0.03	)		—
Adjusted operating diluted earnings per share	$	1.37		$	1.31
Total revenue	$	1,883,040
Securities losses		5,659
Net gain on sale of RCM assets		(19,874	)
Adjusted total revenue	$	1,868,825
Noninterest income	$	753,814
Net gain on sale of RCM assets		(19,874	)
Noninterest income excluding net gain on sale of RCM assets	$	733,940
Noninterest expense	$	1,133,906		$	1,148,992
Merger expense		(25,738	)		(28,401	)
Noninterest expense excluding merger expense	$	1,108,168		$	1,120,591
Efficiency ratio		60.22	%		61.78	%
Impact of excluding merger expense		(1.37	)		(1.53	)
Operating efficiency ratio		58.85	%		60.25	%
Impact of net gain on sale of RCM assets		0.63			—
Adjusted operating efficiency ratio		59.48	%		60.25	%
Return on average total assets		1.24	%		1.16	%
Impact of excluding merger expense		0.04			0.04
Operating return on average total assets²		1.28	%		1.20	%
Return on average total shareholders' equity		12.39	%		11.46	%
Impact of excluding merger expense		0.40			0.47
Operating return on average total shareholders' equity³		12.79	%		11.93	%

SunTrust presents selected financial data on an operating basis that excludes merger charges, which represent incremental costs to integrate NCF's operations. The Company also presents selected financial data on an adjusted operating basis, which further excludes the net gain related to the sale of RCM assets. The Company believes the exclusion of these two measures is more reflective of normalized operations.


²	Computed by dividing annualized operating net income by average total assets.


³	Computed by dividing annualized operating net income by average total shareholders' equity.

SunTrust Banks, Inc. and Subsidiaries
QUARTER-TO-QUARTER COMPARISON – ACTUAL AND HISTORICAL COMBINED GROWTH

The 1st quarter 2004 figures represent SunTrust and NCF on a historical combined basis. See next page for a reconcilement of these historical combined amounts.


	ACTUAL															HISTORICAL COMBINED
	1st Quarter 2005			4th quarter 2004			Increase/(Decrease)						Sequential Annualized %			1st Quarter 2005			1st Quarter 2004		Increase/(Decrease)
	1st Quarter 2005			4th quarter 2004			Amount			%			Sequential Annualized %			1st Quarter 2005			1st Quarter 2004		Amount			%
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	1,111,560		$	1,084,204		$	27,356			2.5	%		10.1	%	$	1,111,560		$	1,042,719	$	68,841			6.6	%
Provision for loan losses		10,556			37,099			(26,543	)		(71.5	)		(286.2	)		10,556			65,925		(55,369	)		(84.0	)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		1,101,004			1,047,105			53,899			5.1			20.6			1,101,004			976,794		124,210			12.7
NONINTEREST INCOME
Deposit and other fees¹		343,634			356,777			(13,143	)		(3.7	)		(14.7	)		343,634			337,122		6,512			1.9
Trust and investment management income		164,515			160,526			3,989			2.5			9.9			164,515			152,716		11,799			7.7
Broker / dealer revenue²		149,196			158,888			(9,692	)		(6.1	)		(24.4	)		149,196			145,703		3,493			2.4
Other noninterest income		82,254			102,189			(19,935	)		(19.5	)		(78.0	)		82,254			63,638		18,616			29.3
Noninterest income before securities (losses)/gains and net gain on sale of RCM assets³		739,599			778,380			(38,781	)		(5.0	)		(19.9	)		739,599			699,179		40,420			5.8
Gain on sale of RCM assets, net of related expenses		19,874			—			19,874			100.0			400.0			19,874			—		19,874			100.0
Noninterest income before securities (losses)/gains		759,473			778,380			(18,907	)		(2.4	)		(9.7	)		759,473			699,179		60,294			8.6
Securities (losses)/gains		(5,659	)		(19,377	)		13,718			70.8			283.2			(5,659	)		15,845		(21,504	)		(135.7	)
Total noninterest income		753,814			759,003			(5,189	)		(0.7	)		(2.7	)		753,814			715,024		38,790			5.4
NONINTEREST EXPENSE
Personnel expense		634,793			612,861			21,932			3.6			14.3			634,793			585,917		48,876			8.3
Net occupancy expense		75,851			78,218			(2,367	)		(3.0	)		(12.1	)		75,851			75,266		585			0.8
Outside processing and software		82,848			81,368			1,480			1.8			7.3			82,848			72,216		10,632			14.7
Equipment expense		52,882			50,765			2,117			4.2			16.7			52,882			52,318		564			1.1
Marketing and customer development		31,629			34,389			(2,760	)		(8.0	)		(32.1	)		31,629			33,248		(1,619	)		(4.9	)
Other noninterest expense		198,948			231,231			(32,283	)		(14.0	)		(55.8	)		198,948			205,230		(6,282	)		(3.1	)
Noninterest expense before amortization of intangible assets and merger expense⁴		1,076,951			1,088,832			(11,881	)		(1.1	)		(4.4	)		1,076,951			1,024,195		52,756			5.2
Amortization of intangible assets		31,217			31,759			(542	)		(1.7	)		(6.8	)		31,217			29,279		1,938			6.6
Merger expense		25,738			28,401			(2,663	)		(9.4	)		(37.5	)		25,738			—		25,738			100.0
Total noninterest expense		1,133,906			1,148,992			(15,086	)		(1.3	)		(5.3	)		1,133,906			1,053,474		80,432			7.6
INCOME BEFORE INCOME TAXES		720,912			657,116			63,796			9.7			38.8			720,912			638,344		82,568			12.9
Provision for income taxes		228,618			201,387			27,231			13.5			54.1			228,618			186,265		42,353			22.7


	ACTUAL															HISTORICAL COMBINED
	1st Quarter 2005			4th quarter 2004			Increase/(Decrease)						Sequential Annualized %			1st Quarter 2005			1st Quarter 2004			Increase/(Decrease)
	1st Quarter 2005			4th quarter 2004			Amount			%			Sequential Annualized %			1st Quarter 2005			1st Quarter 2004			Amount			%
NET INCOME		492,294			455,729			36,565			8.0			32.1			492,294			452,079			40,215			8.9
Merger expense, net of tax		15,958			18,461			(2,503	)		(13.6	)		(54.2	)		15,958			—			15,958			100.0
OPERATING NET INCOME		508,252			474,190			34,062			7.2			28.7			508,252			452,079			56,173			12.4
Net gain on sale of RCM assets, net of tax		(12,322	)		—			(12,322	)		100.0			400.0			(12,322	)		—			(12,322	)		100.0
ADJUSTED OPERATING NET INCOME	$	495,930		$	474,190		$	21,740			4.6	%		18.3	%	$	495,930		$	452,079		$	43,851			9.7	%
REVENUE (Dollars in thousands)
Net interest income	$	1,111,560		$	1,084,204		$	27,356			2.5	%		10.1	%	$	1,111,560		$	1,042,719		$	68,841			6.6	%
FTE adjustment⁵		17,666			16,684			982			5.9			23.5			17,666			14,361			3,305			23.0
Net interest income – FTE		1,129,226			1,100,888			28,338			2.6			10.3			1,129,226			1,057,080			72,146			6.8
Noninterest income		753,814			759,003			(5,189	)		(0.7	)		(2.7	)		753,814			715,024			38,790			5.4
Total revenue		1,883,040			1,859,891			23,149			1.2			5.0			1,883,040			1,772,104			110,936			6.3
Securities losses/(gains)		5,659			19,377			(13,718	)		(70.8	)		(283.2	)		5,659			(15,845	)		21,504			135.7
Net gain on sale of RCM assets		(19,874	)		—			(19,874	)		100.0			400.0			(19,874	)		—			(19,874	)		100.0
Total revenue excluding securities gains and losses and net gain on sale of RCM assets	$	1,868,825		$	1,879,268			($10,443	)		(0.6	)%		(2.2	)%	$	1,868,825		$	1,756,259		$	112,566			6.4	%
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans⁶
Commercial	$	33,518		$	32,343		$	1,175			3.6	%		14.5	%	$	33,518		$	32,598		$	920			2.8	%
Real estate 1-4 family		23,527			22,535			992			4.4			17.6			23,527			18,804			4,723			25.1
Real estate commercial and construction		19,224			18,660			564			3.0			12.1			19,224			17,670			1,554			8.8
Real estate equity		11,574			11,016			558			5.1			20.3			11,574			8,844			2,730			30.9
Consumer⁷		15,175			15,390			(215	)		(1.4	)		(5.6	)		15,175			15,074			101			0.7
Credit cards		198			193			5			2.4			9.6			198			155			43			27.7
Total loans	$	103,216		$	100,137		$	3,079			3.1	%		12.3	%	$	103,216		$	93,145		$	10,071			10.8	%
Average deposits
Noninterest bearing deposits	$	23,723		$	24,182			($459	)		(1.9	)%		(7.6	)%	$	23,723		$	21,412		$	2,311			10.8
NOW accounts		17,480			16,941			539			3.2			12.7			17,480			14,494			2,986			20.6
Money market accounts		24,767			24,507			260			1.1			4.2			24,767			24,071			696			2.9
Savings		7,507			8,139			(632	)		(7.8	)		(31.1	)		7,507			8,054			(547	)		(6.8	)
Consumer and other time		17,491			16,832			659			3.9			15.7			17,491			15,575			1,916			12.3
Total consumer and commercial deposits		90,968			90,601			367			0.4			1.6			90,968			83,606			7,362			8.8
Brokered and foreign deposits		13,424			10,671			2,753			25.8			103.2			13,424			12,292			1,132			9.2
Total deposits	$	104,392		$	101,272		$	3,120			3.1	%		12.3	%	$	104,392		$	95,898		$	8,494			8.9	%
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans	$	337,057		$	354,241			($17,184	)		(4.9	)%		(19.4	)%	$	337,057		$	318,643		$	18,414			5.8	%
Restructured loans		20,071			19,049			1,022			5.4			21.5			20,071			18,661			1,410			7.6
Total nonperforming loans		357,128			373,290			(16,162	)		(4.3	)		(17.3	)		357,128			337,304			19,824			5.9
Other real estate owned (OREO)		27,555			28,619			(1,064	)		(3.7	)		(14.9	)		27,555			41,605			(14,050	)		(33.8	)
Other repossessed assets		7,662			8,749			(1,087	)		(12.4	)		(49.7	)		7,662			17,061			(9,399	)		(55.1	)
Total nonperforming assets	$	392,345		$	410,658			($18,313	)		(4.5	)%		(17.8	)%	$	392,345		$	395,970			($3,625	)		(0.9	)%
Allowance for loan and lease losses		($1,023,746	)		($1,050,024	)	$	26,278			(2.5	)%		(10.0	)%		($1,023,746	)		($1,110,356	)	$	86,610			(7.8	)


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.

SunTrust presents noninterest income before securities (losses)/gains and the net gain on the sale of RCM assets. The Company believes noninterest income before securities gains and losses is more indicative of the Company's performance because it isolates income that is primarily customer relationship and customer transaction driven. SunTrust further excludes the net gain on the sale of RCM assets because the Company believes the exclusion of the net gain provides better comparability and is more indicative of normalized operations.


⁴	The Company presents noninterest expense before amortization of intangible assets and merger expense. The Company believes the exclusion of these measures provides better comparability and is more reflective of normalized operations.


⁵	NCF's FTE adjustments were reduced $4,712 from the first quarter of 2004 to conform to SunTrust's methodology.


⁶	SunTrust's average nonaccrual and restructured loans are included in the respective categories to conform to the NCF presentation.


⁷	Includes consumer direct and consumer indirect loans.

SunTrust Banks, Inc. and Subsidiaries
SUNTRUST / NCF – SELECTED HISTORICAL FINANCIAL DATA


	1st Quarter 2004
	SunTrust			NCF			Pro Forma Combined
STATEMENTS OF INCOME (Dollars in thousands)
NET INTEREST INCOME	$	851,648		$	191,071		$	1,042,719
Provision for loan losses		53,837			12,088			65,925
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		797,811			178,983			976,794
NONINTEREST INCOME
Deposit and other fees¹		287,659			49,463			337,122
Trust and investment management income		136,218			16,498			152,716
Broker / dealer revenue²		119,941			25,762			145,703
Other noninterest income		46,341			17,297			63,638
Noninterest income before securities (losses)/gains		590,159			109,020			699,179
Securities gains		4,927			10,918			15,845
Total noninterest income		595,086			119,938			715,024
NONINTEREST EXPENSE
Personnel expense		506,796			79,121			585,917
Net occupancy expense		61,859			13,407			75,266
Outside processing and software		65,626			6,590			72,216
Equipment expense		45,085			7,233			52,318
Marketing and customer development		30,219			3,029			33,248
Other noninterest expense		164,523			40,707			205,230
Noninterest expense before amortization of intangible assets		874,108			150,087			1,024,195
Amortization of intangible assets		15,640			13,639			29,279
Total noninterest expense		889,748			163,726			1,053,474
INCOME BEFORE INCOME TAXES		503,149			135,195			638,344
Provision for income taxes		141,314			44,951			186,265
NET INCOME	$	361,835		$	90,244		$	452,079
REVENUE (Dollars in thousands)
Net interest income	$	851,648		$	191,071		$	1,042,719
FTE adjustment³		12,256			2,105			14,361
Net interest income – FTE		863,904			193,176			1,057,080
Noninterest income		595,086			119,938			715,024
Total revenue		1,458,990			313,114			1,772,104
Securities (gains)		(4,927	)		(10,918	)		(15,845	)
Total revenue excluding securities gains and losses	$	1,454,063		$	302,196		$	1,756,259


	1st Quarter 2004
	SunTrust			NCF			Pro Forma Combined
SELECTED AVERAGE BALANCES (Dollars in millions)
Average Loans⁴
Commercial	$	28,599		$	3,999		$	32,598
Real estate 1-4 family		17,850			954			18,804
Real estate commercial and construction		13,910			3,760			17,670
Real estate equity		7,112			1,732			8,844
Consumer ⁵		12,294			2,780			15,074
Credit cards		140			15			155
Total loans	$	79,905		$	13,240		$	93,145
Average deposits
Noninterest bearing deposits	$	18,897		$	2,515		$	21,412
NOW accounts		12,332			2,162			14,494
Money market accounts		22,137			1,934			24,071
Savings		6,334			1,720			8,054
Consumer and other time		10,661			4,914			15,575
Total consumer and commercial deposits		70,361			13,245			83,606
Brokered and foreign deposits		10,001			2,291			12,292
Total deposits	$	80,362		$	15,536		$	95,898
SELECTED CREDIT DATA (Dollars in thousands)
Nonaccrual loans	$	283,918		$	34,725		$	318,643
Restructured loans		18,661			—			18,661
Total nonperforming loans		302,579			34,725			337,304
Other real estate owned (OREO)		18,380			23,225			41,605
Other repossessed assets		10,953			6,108			17,061
Total nonperforming assets	$	331,912		$	64,058		$	395,970
Allowance for loan and lease losses		($936,972	)		($173,384	)		($1,110,356	)


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 $4,712 from the 1st quarter of 2004 to conform to SunTrust methodology.


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


⁵	Includes consumer direct and consumer indirect loans.

Suntrust Banks Inactive 8-KUBS Global Financial Services Conference May 2005