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)		April 18, 2005	

			
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	

			
    	
(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.

The following 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 in another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

On April 18, 2005 SunTrust Banks, Inc. (the "Registrant") announced financial results for the first quarter ended March 31, 2005, reporting net income for the first quarter of $492.3 million and net income per diluted share for the first quarter of $1.36. A copy of the News Release announcing the Registrant's results for the first quarter ended March 31, 2005, is attached hereto as Exhibit 99.1 and hereby incorporated herein by reference.

On April 18, 2005, at 8:00 a.m. Eastern time, the Registrant will hold an investor call and webcast to discuss financial results for the first quarter ended March 31, 2005. The Registrant is furnishing the slide presentation attached hereto as Exhibit 99.2, and incorporated herein by reference, in connection with the portion of the investor call and webcast that discusses the integration status update related to the Registrant's merger with National Commerce Financial Corporation. All information in the News Release and the slide presentation speaks as of the date thereof and the Registrant does not assume any obligation to correct or update said information in the future.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
		
99.1 	News Release dated April 18, 2005 (Furnished with the Commission as a part of this Form 8-K).	
		
99.2 	Slide presentation to be presented on April 18, 2005 (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: April 18, 2005		By:		/s/ Thomas E. Panther                
Thomas E. Panther
Senior Vice President and Controller	

 

											
Contacts:		 		April 18, 2005	
Investors
Greg Ketron
(404) 827-6714		Media
Barry Koling
(404) 230-5268			
		
SunTrust Reports First Quarter 2005 Earnings
Company Says Positive Trends Continue and NCF Merger Integration Remains on Track
ATLANTA— SunTrust Banks, Inc. (NYSE: STI) today reported net income for the first quarter of 2005 of $492.3 million, up from $361.8 million in the first quarter of 2004. Net income per diluted share was $1.36, up 6% from the $1.28 per diluted share earned in the first quarter of 2004. Operating income per diluted share was $1.40, up 9% from the first quarter of 2004. Operating income does not include $16.0 million of after-tax merger charges incurred in the first quarter associated with SunTrust's acquisition of National Commerce Financial Corporation (NCF), which closed on October 1, 2004. Included in the net income and operating income per diluted share for the first quarter was a net gain on the sale of factoring assets from a division of SunTrust, Receivables Capital Management (RCM), to CIT Group, Inc. The net gain on a pre-tax basis was $19.9 million and on an after-tax basis was $12.3 million, and it accounted for a $.03 increase in net income and operating net income per diluted share in the first quarter of 2005.
"We are pleased to report that during the first quarter SunTrust continued to build on the positive trends established in 2004," said L. Phillip Humann, SunTrust Chairman and Chief Executive Officer. "Our first quarter results benefited from increasingly robust net interest income growth, excellent credit quality and a continuation of effective cost control." Mr. Humann said net interest income growth in the first quarter resulted from a continuation of strong overall loan growth. He also noted that credit quality trends are the best experienced in a number of years, and that noninterest expenses decreased from the prior quarter.
Mr. Humann also noted that the NCF merger integration is proceeding according to plan and reiterated the Company's expectation that all business, customer and financial merger goals will be met.
Discussion of Historical Results and Estimated Historical Combined Results
In order to assist investors in comparing the financial results of the now-combined SunTrust and National Commerce Financial Corporation, estimated historical combined information for first quarter 2004 is presented as if the merger had been completed at the beginning of the period presented. In management's view, the estimated historical combined financial results assist investors in better understanding the comparative performance and underlying growth dynamics of the combined Company. For further information regarding the estimated historical combined financial information, including reconciliations of certain financial information, please see Appendix B.

First Quarter 2005 Summary:

 		1st Quarter
2005		1st Quarter
2004		Reported
% Change		Estimated
Historical
Combined
1st Quarter
2004		Estimated
Historical
Combined
% Change	
Income statement		 	 	 		 	 	 			
(Dollars in millions except per share data)		 	 	 		 	 	 			
Net income		$	492.3	 		$	361.8	 		 	36	% 		$	452.1	 		 	9	% 	
Operating net income (1)		 	508.3	 		 	361.8	 		 	40	% 		 	452.1	 		 	12	% 	
Adjusted operating net income (2)		 	495.9	 		 	361.8	 		 	37	% 		 	452.1	 		 	10	% 	
Net income per diluted share		$	1.36	 		$	1.28	 		 	6	% 		 	NR	 		 	 	 	
Operating net income per diluted share (3)		 	1.40	 		 	1.28	 		 	9	% 		 	NR	 		 	 	 	
Adjusted operating net income per diluted share (4)		 	1.37	 		 	1.28	 		 	7	% 		 	NR	 		 	 	 	
Revenue		$	1,883.0	 		$	1,459.0	 		 	29	% 		$	1,772.1	 		 	6	% 	
Revenue excluding securities gains and losses and net gain on RCM		$	1,868.8	 		$	1,454.1	 		 	29	% 		$	1,756.3	 		 	6	% 	
Efficiency ratio %		 	60.22	 		 	60.98	 		 	 	 		 	NR	 		 	 	 	
Adjusted operating efficiency ratio % (5)		 	59.48	 		 	60.98	 		 	 	 		 	NR	 		 	 	 	
Balance Sheet		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
(Dollars in billions)		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Average loans		$	103.2	 		$	79.9	 		 	29	% 		$	93.1	 		 	11	% 	
Average customer deposits		 	91.0	 		 	70.4	 		 	29	% 		 	83.6	 		 	9	% 	
Asset Quality		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Net charge-offs as a % of average loans		 	0.14	% 		 	0.30	% 		 	 	 		 	NR	 		 	 	 	
Net charge-offs		$	36.8	 		$	58.8	 		 	(37	)% 		 	NR	 		 	 	 	

• 	Net income increased 9% from the first quarter of 2004 on an estimated historical combined basis. Adjusted operating net income, which excludes merger expenses and the net gain on sale of factoring assets, increased 10% from the first quarter of 2004 on an estimated historical combined basis.	
		
• 	Total revenue increased 6% from the first quarter of 2004 on an estimated historical combined basis, driven principally by strong loan and deposit growth. Noninterest income contributed $38.8 million or 35% of the growth.	
		
• 	Total average loans increased 11% from the first quarter of 2004 on an estimated historical combined basis, driven by strong home equity line and residential real estate loan growth of 31% and 25%, respectively.	
		
• 	Average commercial and commercial real estate and construction loan growth accelerated in the first quarter of 2005, growing at 15% and 12% sequential annualized rates, respectively.	
		
• 	Total average consumer and commercial deposits increased 9% from the first quarter of 2004 on an estimated historical combined basis, driven by strong NOW and DDA growth of 21% and 11%, respectively, reflecting the effectiveness of SunTrust's company-wide sales focus.	
		
• 	The efficiency ratio for the first quarter of 2005 was 60.22%, a 156 basis point improvement from the fourth quarter of 2004. The adjusted operating efficiency ratio, which excludes merger expenses and the net gain on sale of factoring assets, was 59.48%, a 77 basis point improvement from the operating efficiency ratio in the fourth quarter of 2004.	
		
• 	Credit quality was outstanding during the quarter; net charge-offs were 0.14% of average loans, down from 0.21% of average loans in the fourth quarter of 2004.	

		
		
(1)	Excludes 1st quarter 2005 merger related expenses, net of taxes, which totaled $16.0 million.	
		
(2)	Excludes 1st quarter 2005 merger related expenses, net of taxes, which totaled $16.0 million and the net gain on the sale of factoring assets (RCM), net of taxes, which totaled $12.3 million.	

		
(3)	Excludes 1st quarter 2005 merger related expenses, net of taxes, per diluted share of $.04.	
		
(4)	Excludes 1st quarter 2005 merger related expenses, net of taxes, per diluted share of $.04 and the net gain on the sale of factoring assets, net of taxes, per diluted share of $.03.	
		
(5)	Excludes 1st quarter 2005 merger related expenses of $25.7 million and the net gain on the sale of factoring assets of $19.9 million.	
		
	NR – Not reported.	
Financial Performance
For the quarter, reported return on average total assets (ROA) was 1.24%, and return on average total equity (ROE) was 12.39%. Excluding realized and unrealized securities gains and losses and dividends from The Coca-Cola Company, return on average total assets was 1.23% and return on average total realized equity was 13.23%. Operating ROA and ROE, which excludes merger charges, was 1.28% and 12.79%, respectively.
Revenue
Total revenue was $1,883.0 million for the first quarter of 2005, up $424.1 million from the first quarter of 2004. On an estimated historical combined basis, total revenue was up 6% from the first quarter of 2004. On an estimated historical combined basis, total revenue excluding securities gains and losses and the net gain on sale of factoring assets was up 6% from the first quarter of 2004. Revenue growth was driven by improvements in both net interest income and noninterest income.
Net Interest Income
Fully taxable net interest income was $1,129.2 million in the first quarter of 2005, up from $863.9 million in the first quarter of 2004. On an estimated historical combined basis, fully taxable net interest income was up 7% from the first quarter of 2004. Factors driving the net interest income growth have been the improving net interest margin, strong loan growth particularly in residential real estate and home equity lending, and growth in low cost deposits. The net interest margin for the first quarter of 2005 was 3.25%, up four basis points from the fourth quarter of 2004 due to the difference in the number of days in the first quarter as compared to the fourth quarter.
Noninterest Income
Total noninterest income was $753.8 million for the first quarter of 2005, up from $595.1 million for the first quarter of 2004. On an estimated historical combined basis, total noninterest income for the first quarter was up 5% from the first quarter of 2004. Noninterest income excluding securities gains and losses was $759.5 million for the first quarter of 2005, up from $590.2 million for the first quarter of 2004. On an estimated historical combined basis, noninterest income excluding securities gains and losses for the first quarter was up 9% from the first quarter of 2004.
Included in noninterest income in the first quarter of 2005 was the net gain on the sale of factoring assets, which totaled $19.9 million. Noninterest income excluding securities gains and losses and the net gain on the sale of factoring assets for the first quarter of 2005 was up 6% from the first quarter of 2004 on an estimated historical combined basis.
A significant driver of the increase in noninterest income has been growth in trust and investment management income, which was up 8% in the first quarter of 2005 from the first quarter of 2004 on an estimated historical combined basis.
Noninterest Expense
Total noninterest expense in the first quarter of 2005 was $1,133.9 million, up from $889.7 million for the first quarter of 2004 and down from $1,149.0 in the fourth quarter of 2004. On an estimated historical combined basis, total noninterest expense was up 8% in the first quarter of 2005 from the first quarter of 2004. On an estimated historical combined basis, noninterest expense before amortization of intangible assets and merger expenses in the first quarter of 2005 was $1,077.0 million,

up 5% from $1,024.2 million in the first quarter of 2004 and down 1% from $1,088.8 million in the fourth quarter of 2004. Compared to the fourth quarter, cost control effectiveness was evident in several noninterest expense categories, with decreases in net occupancy and marketing and customer development. Cost savings from the merger integration amounted to $8 million in the first quarter of 2005. The Company's reported efficiency ratio was 60.22% for the first quarter of 2005, and its operating efficiency ratio was 58.85%. The adjusted operating efficiency ratio, which excludes merger expenses and the net gain on the sale of factoring assets, was 59.48%.
Balance Sheet
At March 31, 2005, SunTrust had total assets of $164.8 billion. Equity capital of $16.1 billion represented 10% of total assets. Book value per share was $44.59, up from $44.30 on December 31, 2004.
Loans
Average loans for the first quarter of 2005 were $103.2 billion, up from $79.9 billion for the first quarter of 2004. On an estimated historical combined basis, average loans were up 11% from the first quarter of 2004. Loan growth was strong across-the-board, with home equity and residential real estate segments continuing to be particularly robust. Commercial and commercial real estate and construction loan growth accelerated in the first quarter of 2005, growing at 15% and 12% on a sequential annualized basis, respectively. Commercial loan growth was experienced in all segments, including large corporate loans that had stabilized in the second half of 2004 and increased in the first quarter of 2005.
Deposits
Average consumer and commercial deposits for the first quarter of 2005 were $91.0 billion, up 29% from $70.4 billion for the first quarter of 2004. On an estimated historical combined basis, average consumer and commercial deposits for the first quarter were up 9% from the first quarter of 2004. The growth in deposits was driven by increases in low cost deposit segments, with NOW balances increasing 21% and DDA balances increasing 11% over the first quarter of 2004 on an estimated historical combined basis. Consumer and other time balances also experienced growth, increasing 12% over the first quarter of 2004 on an estimated historical combined basis. A significant portion of this growth can be attributed to the effective implementation of the Company's sales and customer retention initiatives.
Asset Quality
Due to the continued strength of the credit quality in SunTrust's loan and lease portfolio, there was a $26.3 million reduction in the allowance for loan and lease losses from December 31, 2004 to March 31, 2005. Net charge-offs were $36.8 million in the first quarter of 2005 and the provision for loan losses was $10.6 million. Net charge-offs in the first quarter of 2005 were 0.14% of average loans, down from 0.30% of average loans in the first quarter of 2004.
Nonperforming assets were $392.3 million at March 31, 2005 or 0.37% of loans, other real estate owned and other repossessed assets, as compared to $331.9 million or 0.42% of loans, other real estate owned and other repossessed assets at March 31, 2004. On an estimated historical combined basis, nonperforming assets were down 1% from March 31, 2004. Nonperforming assets at March 31, 2005 included $357.1 million in nonperforming loans, $27.6 million in other real estate owned and $7.7 million in other repossessed assets. The allowance for loan and lease losses at March 31, 2005 was $1,023.7 million and represented 0.98% of loans and 286.7% of nonperforming loans. SunTrust believes its net charge-off and nonperforming asset levels continue to compare very favorably with the most recently published industry averages.
Corresponding Financial Tables and Information
To view the corresponding financial tables and information, please refer to the Investor Relations section located under "About SunTrust" on our Web site at www.suntrust.com. This information may

also be directly accessed via the quick link entitled "1st Quarter Earnings Release" located at the lower right hand corner of the SunTrust homepage.
Conference Call
SunTrust management will host a conference call on April 18, 2005 at 8:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Individuals are encouraged to call in beginning at 7:45 a.m. (Eastern Time) by dialing 1-888-972-7805 (Passcode: 1Q05; Leader: Greg Ketron). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 1Q05; Leader: Greg Ketron). A replay of the call will be available beginning April 18, 2005 and ending May 2, 2005 at 5:00 p.m. (Eastern Time) by dialing 1-866-380-6722 (domestic) or 1-203-369-0343 (international).
Alternatively, individuals may listen to the live webcast of the presentation by visiting the SunTrust Web site at www.suntrust.com . The webcast will be hosted under "Investor Relations" located under "About SunTrust" or may be accessed directly from the SunTrust home page by clicking on the earnings-related link, "1st Quarter Earnings Release". Beginning the afternoon of April 18, 2005, listeners may access an archived version of the presentation in the "Webcasts and Presentations" subsection found under "Investor Relations". 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 commercial banking organizations. The Company operates an extensive distribution network primarily in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia, and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is www.suntrust.com .
###
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, 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. Factors that could cause SunTrust's results to differ materially from those described in the forward-looking statements can be found in the 2004 Annual Report on Form 10-K of SunTrust, in the Quarterly Reports on Form 10-Q and 10-Q/A of SunTrust and the Quarterly Reports on Form 10-Q of NCF, and in the Current Reports filed on Form 8-K 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 press release 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 press release contains certain non-GAAP measures to describe our Company's performance. The reconciliation of those measures to the most directly comparable GAAP measures can be found in the financial information contained in Appendix A of this press release.
###

SunTrust Banks, Inc. and Subsidiaries
FINANCIAL HIGHLIGHTS

															
 		Three Months Ended		%
Change	
 		2005		2004			
EARNINGS & DIVIDENDS		 	 	 		 	 	 		 	 	 	
Period Ended March 31		 	 	 		 	 	 		 	 	 	
(Dollars in millions except per share data)		 	 	 		 	 	 		 	 	 	
Net income		$	492.3	 		$	361.8	 		 	36.1	% 	
Total revenue		 	1,883.0	 		 	1,459.0	 		 	29.1	 	
Total revenue excluding securities gains and losses
and net gain on sale of RCM assets 1		 	1,868.8	 		 	1,454.1	 		 	28.5	 	
Earnings per share		 	 	 		 	 	 		 	 	 	
Diluted		$	1.36	 		$	1.28	 		 	6.3	 	
Basic		 	1.37	 		 	1.29	 		 	6.2	 	
Dividends paid per common share		 	0.55	 		 	0.50	 		 	10.0	 	
Average shares outstanding (000s)		 	 	 		 	 	 		 	 	 	
Diluted		 	363,138	 		 	283,523	 		 	28.1	 	
Basic		 	358,253	 		 	279,523	 		 	28.2	 	
CONDENSED BALANCE SHEETS		 	 	 		 	 	 		 	 	 	
(Dollars in millions)		 	 	 		 	 	 		 	 	 	
Selected Average Balances		 	 	 		 	 	 		 	 	 	
Total assets		$	161,218	 		$	123,854	 		 	30.2	% 	
Earning assets		 	140,853	 		 	111,038	 		 	26.9	 	
Loans		 	103,216	 		 	79,905	 		 	29.2	 	
Consumer and commercial deposits		 	90,968	 		 	70,361	 		 	29.3	 	
Deposits		 	104,392	 		 	80,362	 		 	29.9	 	
Shareholders' equity		 	16,119	 		 	9,840	 		 	63.8	 	
Period Ended March 31		 	 	 		 	 	 		 	 	 	
Total assets		$	164,811	 		$	125,250	 		 	31.6	 	
Earning assets		 	143,678	 		 	111,870	 		 	28.4	 	
Loans		 	104,761	 		 	79,213	 		 	32.3	 	
Allowance for loan and lease losses		 	1,024	 		 	937	 		 	9.3	 	
Consumer and commercial deposits		 	93,035	 		 	72,449	 		 	28.4	 	
Deposits		 	107,535	 		 	80,870	 		 	33.0	 	
Shareholders' equity		 	16,104	 		 	10,094	 		 	59.5	 	
FINANCIAL RATIOS		 	 	 		 	 	 		 	 	 	
Return on average total assets		 	1.24	% 		 	1.18	% 		 	5.1	% 	
Return on average assets less net unrealized securities gains 1		 	1.23	 		 	1.15	 		 	7.0	 	
Return on average total equity		 	12.39	 		 	14.79	 		 	(16.2	) 	
Return on average realized equity 1		 	13.23	 		 	17.07	 		 	(22.5	) 	
Total average shareholders' equity to total average assets		 	10.00	 		 	7.95	 		 	25.8	 	
Net interest margin 2		 	3.25	 		 	3.13	 		 	3.8	 	
Efficiency ratio 2		 	60.22	 		 	60.98	 		 	(1.2	) 	
Book value per share		 	44.59	 		 	35.75	 		 	24.7	 	
CAPITAL ADEQUACY		 	 	 		 	 	 		 	 	 	
Tier 1 capital ratio		 	7.05	3  		 	8.28	 		 	(14.9	) 	
Total capital ratio		 	10.45	3  		 	12.26	 		 	(14.8	) 	
Tier 1 leverage ratio		 	6.59	3  		 	7.66	 		 	(14.0	) 	

		

		
1	See Appendix A for a reconcilement of non-GAAP performance measures.	
		
2	The 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 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.	
		
3	Current period tier 1 capital, total capital and tier 1 leverage ratios are estimated as of the press release date.	
1

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER FINANCIAL HIGHLIGHTS

																							
 		1st Quarter
2005		4th Quarter
2004		3rd Quarter
2004		2nd Quarter
2004		1st Quarter
2004	
EARNINGS & DIVIDENDS		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
(Dollars in millions except per share data)		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Net income		$	492.3	 		$	455.7	 		$	368.8	 		$	386.6	 		$	361.8	 	
Total revenue		 	1,883.0	 		 	1,859.9	 		 	1,521.4	 		 	1,507.8	 		 	1,459.0	 	
Total revenue excluding securities gains and losses and net gain on sale of RCM assets 1		 	1,868.8	 		 	1,879.3	 		 	1,539.6	 		 	1,516.8	 		 	1,454.1	 	
Earnings per share		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Diluted		$	1.36	 		$	1.26	 		$	1.30	 		$	1.36	 		$	1.28	 	
Basic		 	1.37	 		 	1.27	 		 	1.31	 		 	1.39	 		 	1.29	 	
Dividends paid per common share		 	0.55	 		 	0.50	 		 	0.50	 		 	0.50	 		 	0.50	 	
Average shares outstanding (000s)		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Diluted		 	363,138	 		 	362,661	 		 	283,502	 		 	283,116	 		 	283,523	 	
Basic		 	358,253	 		 	357,524	 		 	280,185	 		 	279,840	 		 	279,523	 	
CONDENSED BALANCE SHEETS		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
(Dollars in millions)		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Selected Average Balances		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Total assets		$	161,218	 		$	156,570	 		$	127,128	 		$	127,287	 		$	123,854	 	
Earning assets		 	140,853	 		 	136,450	 		 	114,334	 		 	113,657	 		 	111,038	 	
Loans		 	103,216	 		 	100,137	 		 	83,753	 		 	80,936	 		 	79,905	 	
Consumer and commercial deposits		 	90,968	 		 	90,601	 		 	74,122	 		 	73,166	 		 	70,361	 	
Deposits		 	104,392	 		 	101,272	 		 	83,463	 		 	83,320	 		 	80,362	 	
Shareholders' equity		 	16,119	 		 	15,819	 		 	9,993	 		 	10,194	 		 	9,840	 	
Period Ended		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Total assets		$	164,811	 		$	158,870	 		$	127,786	 		$	128,177	 		$	125,250	 	
Earning assets		 	143,678	 		 	138,727	 		 	114,748	 		 	114,404	 		 	111,870	 	
Loans		 	104,761	 		 	101,426	 		 	84,618	 		 	82,540	 		 	79,213	 	
Allowance for loan and lease losses		 	1,024	 		 	1,050	 		 	893	 		 	902	 		 	937	 	
Consumer and commercial deposits		 	93,035	 		 	92,110	 		 	74,956	 		 	73,855	 		 	72,449	 	
Deposits		 	107,535	 		 	103,361	 		 	83,096	 		 	85,529	 		 	80,870	 	
Shareholders' equity		 	16,104	 		 	15,987	 		 	10,129	 		 	10,060	 		 	10,094	 	
FINANCIAL RATIOS		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Return on average total assets		 	1.24	% 		 	1.16	% 		 	1.15	% 		 	1.22	% 		 	1.18	% 	
Return on average assets less net unrealized
securities gains 1		 	1.23	 		 	1.18	 		 	1.18	 		 	1.23	 		 	1.15	 	
Return on average total equity		 	12.39	 		 	11.46	 		 	14.68	 		 	15.25	 		 	14.79	 	
Return on average realized equity 1		 	13.23	 		 	12.54	 		 	16.96	 		 	18.30	 		 	17.07	 	
Total average shareholders' equity to total
average assets		 	10.00	 		 	10.10	 		 	7.86	 		 	8.01	 		 	7.95	 	
Net interest margin 2		 	3.25	 		 	3.21	 		 	3.11	 		 	3.13	 		 	3.13	 	
Efficiency ratio 2		 	60.22	 		 	61.78	 		 	61.12	 		 	61.58	 		 	60.98	 	
Book value per share		 	44.59	 		 	44.30	 		 	35.79	 		 	35.58	 		 	35.75	 	
CAPITAL ADEQUACY		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Tier 1 capital ratio		 	7.053	3  		 	7.16	 		 	8.26	 		 	8.18	 		 	8.28	 	
Total capital ratio		 	10.453	3  		 	10.36	 		 	11.57	 		 	11.87	 		 	12.26	 	
Tier 1 leverage ratio		 	6.593	3  		 	6.64	 		 	7.71	 		 	7.53	 		 	7.66	 	

 		

1	See Appendix A for a reconcilement of non-GAAP performance measures.	
		
2	The 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 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.	
		
3	Current period tier 1 capital, total capital and tier 1 leverage ratios are estimated as of the press release date.	
2

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

																			
 		As of March 31		Increase/(Decrease)	
 		2005		2004		Amount		%	
ASSETS		 	 	 		 	 	 		 	 	 		 	 	 	
Cash and due from banks		$	4,178,424	 		$	3,364,176	 		$	814,248	 		 	24.2	% 	
Interest-bearing deposits in other banks		 	17,456	 		 	16,398	 		 	1,058	 		 	6.5	 	
Trading assets		 	2,516,512	 		 	2,139,399	 		 	377,113	 		 	17.6	 	
Securities available for sale 1		 	29,374,017	 		 	26,122,547	 		 	3,251,470	 		 	12.4	 	
Funds sold and securities purchased under agreements to resell		 	1,764,554	 		 	1,314,231	 		 	450,323	 		 	34.3	 	
Loans held for sale		 	6,955,538	 		 	5,852,118	 		 	1,103,420	 		 	18.9	 	
Loans		 	104,760,859	 		 	79,212,829	 		 	25,548,030	 		 	32.3	 	
Allowance for loan and lease losses		 	(1,023,746	) 		 	(936,972	) 		 	(86,774	) 		 	9.3	 	
Net loans		 	103,737,113	 		 	78,275,857	 		 	25,461,256	 		 	32.5	 	
Goodwill		 	6,861,721	 		 	1,079,640	 		 	5,782,081	 		 	535.6	 	
Other intangible assets		 	1,073,154	 		 	628,223	 		 	444,931	 		 	70.8	 	
Other assets		 	8,332,465	 		 	6,457,463	 		 	1,875,002	 		 	29.0	 	
Total assets 2		$	164,810,954	 		$	125,250,052	 		$	39,560,902	 		 	31.6	 	
LIABILITIES			
Noninterest-bearing consumer and commercial deposits		$	24,448,291	 		$	20,136,810	 		$	4,311,481	 		 	21.4	 	
Interest-bearing consumer and commercial deposits		 	68,587,192	 		 	52,312,167	 		 	16,275,025	 		 	31.1	 	
Total consumer and commercial deposits		 	93,035,483	 		 	72,448,977	 		 	20,586,506	 		 	28.4	 	
Brokered deposits		 	8,183,776	 		 	3,568,493	 		 	4,615,283	 		 	129.3	 	
Foreign deposits		 	6,315,625	 		 	4,852,124	 		 	1,463,501	 		 	30.2	 	
Total deposits		 	107,534,884	 		 	80,869,594	 		 	26,665,290	 		 	33.0	 	
Funds purchased and securities sold under agreements to repurchase		 	10,113,705	 		 	10,197,739	 		 	(84,034	) 		 	(0.8	) 	
Other short-term borrowings		 	2,167,383	 		 	1,148,290	 		 	1,019,093	 		 	88.7	 	
Long-term debt		 	22,498,447	 		 	16,809,810	 		 	5,688,637	 		 	33.8	 	
Trading liabilities		 	1,051,095	 		 	1,028,592	 		 	22,503	 		 	2.2	 	
Other liabilities		 	5,341,181	 		 	5,102,217	 		 	238,964	 		 	4.7	 	
Total liabilities		 	148,706,695	 		 	115,156,242	 		 	33,550,453	 		 	29.1	 	
SHAREHOLDERS' EQUITY			
Preferred stock, no par value		 	—	 		 	—	 		 	—	 		 	—	 	
Common stock, $1.00 par value		 	370,578	 		 	294,163	 		 	76,415	 		 	26.0	 	
Additional paid in capital		 	6,754,301	 		 	1,293,732	 		 	5,460,569	 		 	422.1	 	
Retained earnings		 	8,412,574	 		 	7,369,994	 		 	1,042,580	 		 	14.1	 	
Treasury stock and other		 	(523,790	) 		 	(645,739	) 		 	121,949	 		 	(18.9	) 	
Accumulated other comprehensive income		 	1,090,596	 		 	1,781,660	 		 	(691,064	) 		 	(38.8	) 	
Total shareholders' equity		 	16,104,259	 		 	10,093,810	 		 	6,010,449	 		 	59.5	 	
Total liabilities and shareholders' equity		$	164,810,954	 		$	125,250,052	 		$	39,560,902	 		 	31.6	 	
Common shares outstanding		 	361,176,868	 		 	282,331,789	 		 	78,845,079	 		 	27.9	 	
Common shares authorized		 	750,000,000	 		 	750,000,000	 		 	—	 		 	—	 	
Treasury shares of common stock		 	9,401,530	 		 	11,830,968	 		 	(2,429,438	) 		 	(20.5	) 	
____________ 			
1 Includes net unrealized gains of		$	1,710,792	 		$	2,787,148	 		$	(1,076,356	) 		 	(38.6	) 	
2 Includes earning assets of		 	143,678,144	 		 	111,870,374	 		 	31,807,770	 		 	28.4	 	
		
3

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

																				
 		March 31
2005		December 31
2004		September 30
2004		June 30
2004		March 31
2004	
ASSETS			
Cash and due from banks		$	4,178,424	 		$	3,876,741	 		$	3,642,401	 		$	4,068,693	 		$	3,364,176	 	
Interest-bearing deposits in other banks		 	17,456	 		 	15,929	 		 	19,144	 		 	17,196	 		 	16,398	 	
Trading assets		 	2,516,512	 		 	2,183,645	 		 	1,885,894	 		 	1,807,320	 		 	2,139,399	 	
Securities available for sale 1		 	29,374,017	 		 	28,941,080	 		 	24,508,764	 		 	25,587,978	 		 	26,122,547	 	
Funds sold and securities purchased under agreements to resell		 	1,764,554	 		 	1,596,269	 		 	1,162,032	 		 	1,679,403	 		 	1,314,231	 	
Loans held for sale		 	6,955,538	 		 	6,580,223	 		 	4,602,916	 		 	5,030,617	 		 	5,852,118	 	
Loans		 	104,760,859	 		 	101,426,172	 		 	84,617,875	 		 	82,540,230	 		 	79,212,829	 	
Allowance for loan and lease losses		 	(1,023,746	) 		 	(1,050,024	) 		 	(892,974	) 		 	(902,243	) 		 	(936,972	) 	
Net loans		 	103,737,113	 		 	100,376,148	 		 	83,724,901	 		 	81,637,987	 		 	78,275,857	 	
Goodwill		 	6,861,721	 		 	6,806,013	 		 	1,165,036	 		 	1,164,846	 		 	1,079,640	 	
Other intangible assets		 	1,073,154	 		 	1,061,451	 		 	723,401	 		 	721,428	 		 	628,223	 	
Other assets		 	8,332,465	 		 	7,432,285	 		 	6,351,496	 		 	6,461,055	 		 	6,457,463	 	
Total assets 2		$	164,810,954	 		$	158,869,784	 		$	127,785,985	 		$	128,176,523	 		$	125,250,052	 	
LIABILITIES			
Noninterest-bearing consumer and commercial deposits		$	24,448,291	 		$	24,878,314	 		$	21,009,255	 		$	20,610,429	 		$	20,136,810	 	
Interest-bearing consumer and commercial deposits		 	68,587,192	 		 	67,231,381	 		 	53,946,300	 		 	53,244,549	 		 	52,312,167	 	
Total consumer and commercial deposits		 	93,035,483	 		 	92,109,695	 		 	74,955,555	 		 	73,854,978	 		 	72,448,977	 	
Brokered deposits		 	8,183,776	 		 	6,100,911	 		 	3,380,458	 		 	4,050,525	 		 	3,568,493	 	
Foreign deposits		 	6,315,625	 		 	5,150,645	 		 	4,760,048	 		 	7,623,200	 		 	4,852,124	 	
Total deposits		 	107,534,884	 		 	103,361,251	 		 	83,096,061	 		 	85,528,703	 		 	80,869,594	 	
Funds purchased and securities sold under agreements to repurchase		 	10,113,705	 		 	9,342,831	 		 	8,735,483	 		 	8,099,685	 		 	10,197,739	 	
Other short-term borrowings		 	2,167,383	 		 	2,062,549	 		 	1,328,445	 		 	1,438,908	 		 	1,148,290	 	
Long-term debt		 	22,498,447	 		 	22,127,166	 		 	18,756,590	 		 	17,441,487	 		 	16,809,810	 	
Trading liabilities		 	1,051,095	 		 	1,098,563	 		 	816,486	 		 	1,072,125	 		 	1,028,592	 	
Other liabilities		 	5,341,181	 		 	4,890,525	 		 	4,924,403	 		 	4,535,856	 		 	5,102,217	 	
Total liabilities		 	148,706,695	 		 	142,882,885	 		 	117,657,468	 		 	118,116,764	 		 	115,156,242	 	
SHAREHOLDERS' EQUITY			
Preferred stock, no par value		 	—	 		 	—	 		 	—	 		 	—	 		 	—	 	
Common stock, $1.00 par value		 	370,578	 		 	370,578	 		 	294,163	 		 	294,163	 		 	294,163	 	
Additional paid in capital		 	6,754,301	 		 	6,749,219	 		 	1,303,024	 		 	1,297,555	 		 	1,293,732	 	
Retained earnings		 	8,412,574	 		 	8,118,710	 		 	7,843,069	 		 	7,615,503	 		 	7,369,994	 	
Treasury stock and other		 	(523,790	) 		 	(528,558	) 		 	(609,245	) 		 	(625,137	) 		 	(645,739	) 	
Accumulated other comprehensive income		 	1,090,596	 		 	1,276,950	 		 	1,297,506	 		 	1,477,675	 		 	1,781,660	 	
Total shareholders' equity		 	16,104,259	 		 	15,986,899	 		 	10,128,517	 		 	10,059,759	 		 	10,093,810	 	
Total liabilities and shareholders' equity		$	164,810,954	 		$	158,869,784	 		$	127,785,985	 		$	128,176,523	 		$	125,250,052	 	
Common shares outstanding		 	361,176,868	 		 	360,840,710	 		 	283,001,181	 		 	282,726,614	 		 	282,331,789	 	
Common shares authorized		 	750,000,000	 		 	750,000,000	 		 	750,000,000	 		 	750,000,000	 		 	750,000,000	 	
Treasury shares of common stock		 	9,401,530	 		 	9,737,688	 		 	11,161,576	 		 	11,436,143	 		 	11,830,968	 	
____________ 			
1 Includes net unrealized gains of		$	1,710,792	 		$	2,010,165	 		$	2,048,776	 		$	2,258,984	 		$	2,787,148	 	
2 Includes earning assets of		 	143,678,144	 		 	138,733,153	 		 	114,747,849	 		 	114,403,760	 		 	111,870,374	 	
		
4

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)

																			
 		Three Months Ended	
 		March 31		Increase/(Decrease)	
 		2005		2004		Amount		%	
Interest income		$	1,716,022	 		$	1,173,864	 		$	542,158	 		 	46.2	% 	
Interest expense		 	604,462	 		 	322,216	 		 	282,246	 		 	87.6	 	
NET INTEREST INCOME		 	1,111,560	 		 	851,648	 		 	259,912	 		 	30.5	 	
Provision for loan losses		 	10,556	 		 	53,837	 		 	(43,281	) 		 	(80.4	) 	
NET INTEREST INCOME AFTER		 	 	 		 	 	 		 	 	 		 	 	 	
PROVISION FOR LOAN LOSSES		 	1,101,004	 		 	797,811	 		 	303,193	 		 	38.0	 	
NONINTEREST INCOME		 	 	 		 	 	 		 	 	 		 	 	 	
Service charges on deposit accounts		 	184,103	 		 	163,218	 		 	20,885	 		 	12.8	 	
Trust and investment management income		 	164,515	 		 	136,218	 		 	28,297	 		 	20.8	 	
Retail investment services		 	55,143	 		 	45,738	 		 	9,405	 		 	20.6	 	
Other charges and fees		 	111,375	 		 	92,747	 		 	18,628	 		 	20.1	 	
Investment banking income		 	50,007	 		 	44,813	 		 	5,194	 		 	11.6	 	
Trading account profits and commissions		 	44,046	 		 	29,390	 		 	14,656	 		 	49.9	 	
Card fees		 	48,156	 		 	31,694	 		 	16,462	 		 	51.9	 	
Gain on sale of RCM assets, net of related expenses		 	19,874	 		 	—	 		 	19,874	 		 	100.0	 	
Other noninterest income		 	82,254	 		 	46,341	 		 	35,913	 		 	77.5	 	
Securities (losses)/gains		 	(5,659	) 		 	4,927	 		 	(10,586	) 		 	(214.9	) 	
Total noninterest income		 	753,814	 		 	595,086	 		 	158,728	 		 	26.7	 	
NONINTEREST EXPENSE		 	 	 		 	 	 		 	 	 		 	 	 	
Personnel expense		 	634,793	 		 	506,796	 		 	127,997	 		 	25.3	 	
Net occupancy expense		 	75,851	 		 	61,859	 		 	13,992	 		 	22.6	 	
Outside processing and software		 	82,848	 		 	65,626	 		 	17,222	 		 	26.2	 	
Equipment expense		 	52,882	 		 	45,085	 		 	7,797	 		 	17.3	 	
Marketing and customer development		 	31,629	 		 	30,219	 		 	1,410	 		 	4.7	 	
Amortization of intangible assets		 	31,217	 		 	15,640	 		 	15,577	 		 	99.6	 	
Merger expense		 	25,738	 		 	—	 		 	25,738	 		 	100.0	 	
Other noninterest expense		 	198,948	 		 	164,523	 		 	34,425	 		 	20.9	 	
Total noninterest expense		 	1,133,906	 		 	889,748	 		 	244,158	 		 	27.4	 	
INCOME BEFORE INCOME TAXES		 	720,912	 		 	503,149	 		 	217,763	 		 	43.3	 	
Provision for income taxes		 	228,618	 		 	141,314	 		 	87,304	 		 	61.8	 	
NET INCOME		$	492,294	 		$	361,835	 		$	130,459	 		 	36.1	 	
Net interest income (taxable-equivalent) 1		$	1,129,226	 		$	863,904	 		$	265,322	 		 	30.7	 	
Earnings per share		 	 	 		 	 	 		 	 	 		 	 	 	
Diluted		 	1.36	 		 	1.28	 		 	0.08	 		 	6.3	 	
Basic		 	1.37	 		 	1.29	 		 	0.08	 		 	6.2	 	
Cash dividends paid per common share		 	0.55	 		 	0.50	 		 	0.05	 		 	10.0	 	
Average shares outstanding (000s)		 	 	 		 	 	 		 	 	 		 	 	 	
Diluted		 	363,138	 		 	283,523	 		 	79,615	 		 	28.1	 	
Basic		 	358,253	 		 	279,523	 		 	78,730	 		 	28.2	 	

 		

1	Net interest income includes the effects of taxable-equivalent 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.	
5

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)

																							
 		1st Quarter
2005		4th Quarter
2004		3rd Quarter
2004		2nd Quarter
2004		1st Quarter
2004	
Interest income		$	1,716,022	 		$	1,604,267	 		$	1,252,177	 		$	1,188,074	 		$	1,173,864	 	
Interest expense		 	604,462	 		 	520,063	 		 	375,303	 		 	315,645	 		 	322,216	 	
NET INTEREST INCOME		 	1,111,560	 		 	1,084,204	 		 	876,874	 		 	872,429	 		 	851,648	 	
Provision for loan losses		 	10,556	 		 	37,099	 		 	41,774	 		 	2,827	 		 	53,837	 	
NET INTEREST INCOME AFTER		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
PROVISION FOR LOAN LOSSES		 	1,101,004	 		 	1,047,105	 		 	835,100	 		 	869,602	 		 	797,811	 	
NONINTEREST INCOME		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Service charges on deposit accounts		 	184,103	 		 	196,960	 		 	171,140	 		 	168,704	 		 	163,218	 	
Trust and investment management income		 	164,515	 		 	160,526	 		 	149,673	 		 	140,366	 		 	136,218	 	
Retail investment services		 	55,143	 		 	53,185	 		 	44,049	 		 	49,839	 		 	45,738	 	
Other charges and fees		 	111,375	 		 	110,509	 		 	92,472	 		 	94,766	 		 	92,747	 	
Investment banking income		 	50,007	 		 	61,671	 		 	45,916	 		 	54,330	 		 	44,813	 	
Trading account profits and commissions		 	44,046	 		 	44,032	 		 	23,343	 		 	31,034	 		 	29,390	 	
Card fees		 	48,156	 		 	49,308	 		 	34,716	 		 	37,721	 		 	31,694	 	
Gain on sale of RCM assets, net of related expenses		 	19,874	 		 	—	 		 	—	 		 	—	 		 	—	 	
Other noninterest income		 	82,254	 		 	102,189	 		 	84,576	 		 	54,953	 		 	46,341	 	
Securities (losses)/gains		 	(5,659	) 		 	(19,377	) 		 	(18,193	) 		 	(9,048	) 		 	4,927	 	
Total noninterest income		 	753,814	 		 	759,003	 		 	627,692	 		 	622,665	 		 	595,086	 	
NONINTEREST EXPENSE		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Personnel expense		 	634,793	 		 	612,861	 		 	527,734	 		 	520,922	 		 	506,796	 	
Net occupancy expense		 	75,851	 		 	78,218	 		 	66,542	 		 	61,629	 		 	61,859	 	
Outside processing and software		 	82,848	 		 	81,368	 		 	68,657	 		 	70,619	 		 	65,626	 	
Equipment expense		 	52,882	 		 	50,765	 		 	43,275	 		 	45,740	 		 	45,085	 	
Marketing and customer development		 	31,629	 		 	34,389	 		 	32,028	 		 	31,655	 		 	30,219	 	
Amortization of intangible assets		 	31,217	 		 	31,759	 		 	15,593	 		 	14,590	 		 	15,640	 	
Merger expense		 	25,738	 		 	28,401	 		 	—	 		 	—	 		 	—	 	
Other noninterest expense		 	198,948	 		 	231,231	 		 	176,020	 		 	183,294	 		 	164,523	 	
Total noninterest expense		 	1,133,906	 		 	1,148,992	 		 	929,849	 		 	928,449	 		 	889,748	 	
INCOME BEFORE INCOME TAXES		 	720,912	 		 	657,116	 		 	532,943	 		 	563,818	 		 	503,149	 	
Provision for income taxes		 	228,618	 		 	201,387	 		 	164,177	 		 	177,247	 		 	141,314	 	
NET INCOME		$	492,294	 		$	455,729	 		$	368,766	 		$	386,571	 		$	361,835	 	
Net interest income (taxable-equivalent) 1		$	1,129,226	 		$	1,100,888	 		$	893,695	 		$	885,066	 		$	863,904	 	
Earnings per share		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Diluted		 	1.36	 		 	1.26	 		 	1.30	 		 	1.36	 		 	1.28	 	
Basic		 	1.37	 		 	1.27	 		 	1.31	 		 	1.39	 		 	1.29	 	
Cash dividends paid per common share		 	0.55	 		 	0.50	 		 	0.50	 		 	0.50	 		 	0.50	 	
Average shares outstanding (000s)		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Diluted		 	363,138	 		 	362,661	 		 	283,502	 		 	283,116	 		 	283,523	 	
Basic		 	358,253	 		 	357,524	 		 	280,185	 		 	279,840	 		 	279,523	 	

 		

1	Net interest income includes the effects of taxable-equivalent 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.	
6

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED DAILY AVERAGE BALANCES,
AVERAGE YIELDS EARNED AND RATES PAID
(Dollars in millions; yields on taxable-equivalent basis)

																											

 		1st Quarter
2005		4th Quarter
2004	
 		Average
Balances		Interest
Income/
Expense		Yields/
Rates		Average
Balances		Interest
Income/
Expense		Yields/
Rates	
ASSETS		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Loans:		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Real estate 1-4 family		$	23,435.7	 		$	300.5	 		 	5.13	% 		$	22,461.0	 		$	285.8	 		 	5.09	% 	
Real estate construction		 	9,621.2	 		 	134.8	 		 	5.68	 		 	9,054.6	 		 	121.0	 		 	5.32	 	
Real estate equity		 	11,573.7	 		 	152.8	 		 	5.35	 		 	11,016.4	 		 	133.3	 		 	4.81	 	
Real estate commercial		 	9,537.0	 		 	124.8	 		 	5.31	 		 	9,547.2	 		 	120.7	 		 	5.03	 	
Commercial		 	33,423.9	 		 	394.9	 		 	4.79	 		 	32,223.1	 		 	360.5	 		 	4.45	 	
Business credit card		 	197.7	 		 	3.4	 		 	6.81	 		 	192.6	 		 	3.2	 		 	6.69	 	
Consumer — direct		 	6,767.2	 		 	96.6	 		 	5.79	 		 	6,706.9	 		 	93.6	 		 	5.55	 	
Consumer — indirect		 	8,384.4	 		 	112.1	 		 	5.42	 		 	8,661.6	 		 	120.1	 		 	5.52	 	
Nonaccrual and restructured		 	275.0	 		 	2.8	 		 	4.19	 		 	274.1	 		 	3.4	 		 	4.90	 	
Total loans		 	103,215.8	 		 	1,322.7	 		 	5.20	 		 	100,137.5	 		 	1,241.6	 		 	4.93	 	
Securities available for sale:		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Taxable		 	26,477.7	 		 	288.3	 		 	4.36	 		 	26,389.5	 		 	275.1	 		 	4.17	 	
Tax-exempt		 	836.1	 		 	12.7	 		 	6.10	 		 	848.6	 		 	13.0	 		 	6.11	 	
Total securities available for sale		 	27,313.8	 		 	301.0	 		 	4.41	 		 	27,238.1	 		 	288.1	 		 	4.23	 	
Funds sold and securities purchased under agreement to resell		 	1,604.3	 		 	9.7	 		 	2.41	 		 	1,301.2	 		 	6.0	 		 	1.82	 	
Loans held for sale		 	6,393.2	 		 	86.1	 		 	5.39	 		 	5,607.0	 		 	74.7	 		 	5.33	 	
Interest-bearing deposits		 	17.5	 		 	0.1	 		 	1.60	 		 	20.9	 		 	0.1	 		 	1.35	 	
Trading assets		 	2,308.2	 		 	14.1	 		 	2.48	 		 	2,145.7	 		 	10.5	 		 	1.94	 	
Total earning assets		 	140,852.8	 		 	1,733.7	 		 	4.99	 		 	136,450.4	 		 	1,621.0	 		 	4.73	 	
Allowance for loan losses		 	(1,065.5	) 		 	 	 		 	 	 		 	(1,094.5	) 		 	 	 		 	 	 	
Cash and due from banks		 	4,309.5	 		 	 	 		 	 	 		 	4,136.4	 		 	 	 		 	 	 	
Premises and equipment		 	1,862.9	 		 	 	 		 	 	 		 	1,839.9	 		 	 	 		 	 	 	
Other assets		 	13,225.7	 		 	 	 		 	 	 		 	13,181.2	 		 	 	 		 	 	 	
Unrealized gains on securities available for sale		 	2,032.8	 		 	 	 		 	 	 		 	2,056.7	 		 	 	 		 	 	 	
Total assets		$	161,218.2	 		 	 	 		 	 	 		$	156,570.1	 		 	 	 		 	 	 	
LIABILITIES AND SHAREHOLDERS' EQUITY		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Interest-bearing deposits:		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
NOW accounts		$	17,479.8	 		$	33.8	 		 	0.78	% 		$	16,940.7	 		$	28.3	 		 	0.66	% 	
Money Market accounts		 	24,767.4	 		 	82.1	 		 	1.34	 		 	24,507.0	 		 	66.3	 		 	1.08	 	
Savings		 	7,506.9	 		 	15.5	 		 	0.84	 		 	8,139.3	 		 	16.8	 		 	0.82	 	
Consumer time		 	12,324.0	 		 	75.1	 		 	2.47	 		 	12,083.9	 		 	73.6	 		 	2.42	 	
Other time		 	5,166.6	 		 	34.9	 		 	2.74	 		 	4,748.8	 		 	30.2	 		 	2.53	 	
Total interest-bearing consumer and commercial deposits		 	67,244.7	 		 	241.4	 		 	1.46	 		 	66,419.7	 		 	215.2	 		 	1.29	 	
Brokered deposits		 	6,462.1	 		 	41.1	 		 	2.54	 		 	5,966.1	 		 	32.3	 		 	2.11	 	
Foreign deposits		 	6,962.3	 		 	40.0	 		 	2.30	 		 	4,704.5	 		 	23.0	 		 	1.91	 	
Total interest-bearing deposits		 	80,669.1	 		 	322.5	 		 	1.62	 		 	77,090.3	 		 	270.5	 		 	1.40	 	
Funds purchased and securities sold under agreements to repurchase		 	10,134.0	 		 	56.2	 		 	2.22	 		 	9,407.1	 		 	40.3	 		 	1.68	 	
Other short-term borrowings		 	2,591.3	 		 	17.0	 		 	2.65	 		 	2,219.7	 		 	11.5	 		 	2.06	 	
Long-term debt		 	22,197.7	 		 	208.8	 		 	3.82	 		 	21,961.6	 		 	197.8	 		 	3.58	 	
Total interest-bearing liabilities		 	115,592.1	 		 	604.5	 		 	2.12	 		 	110,678.7	 		 	520.1	 		 	1.87	 	
Noninterest-bearing deposits		 	23,723.1	 		 	 	 		 	 	 		 	24,181.7	 		 	 	 		 	 	 	
Other liabilities		 	5,783.6	 		 	 	 		 	 	 		 	5,890.7	 		 	 	 		 	 	 	
Shareholders' equity		 	16,119.4	 		 	 	 		 	 	 		 	15,819.0	 		 	 	 		 	 	 	
Total liabilities and shareholders' equity		$	161,218.2	 		 	 	 		 	 	 		$	156,570.1	 		 	 	 		 	 	 	
Interest Rate Spread		 	 	 		 	 	 		 	2.87	% 		 	 	 		 	 	 		 	2.86	% 	
Net Interest Income — FTE		 	 	 		$	1,129.2	 		 	 	 		 	 	 		$	1,100.9	 		 	 	 	
Net Interest Margin		 	 	 		 	 	 		 	3.25	% 		 	 	 		 	 	 		 	3.21	% 	
		
7

SunTrust Banks, Inc. and Subsidiaries
CONSOLIDATED DAILY AVERAGE BALANCES,
AVERAGE YIELDS EARNED AND RATES PAID
(Dollars in millions; yields on taxable-equivalent basis)

																																							

 		3 rd quarter
2004		2nd quarter
2004		1st Quarter
2004	
 		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 1-4 family		$	20,722.7	 		$	262.9	 		 	5.07	% 		$	18,870.1	 		$	235.9	 		 	5.00	% 		$	17,758.0	 		$	230.5	 		 	5.19	% 	
Real estate construction		 	4,727.8	 		 	55.5	 		 	4.67	 		 	4,558.9	 		 	49.5	 		 	4.37	 		 	4,546.3	 		 	49.3	 		 	4.36	 	
Real estate equity		 	8,238.6	 		 	85.1	 		 	4.11	 		 	7,619.1	 		 	78.1	 		 	4.12	 		 	7,111.8	 		 	73.9	 		 	4.18	 	
Real estate commercial		 	9,441.9	 		 	112.3	 		 	4.73	 		 	9,426.0	 		 	106.2	 		 	4.53	 		 	9,295.0	 		 	106.9	 		 	4.63	 	
Commercial		 	27,630.5	 		 	276.3	 		 	3.98	 		 	27,510.8	 		 	247.4	 		 	3.62	 		 	28,464.1	 		 	250.2	 		 	3.54	 	
Business credit card		 	158.0	 		 	2.7	 		 	6.80	 		 	151.0	 		 	2.5	 		 	6.55	 		 	140.0	 		 	2.4	 		 	6.74	 	
Consumer - direct		 	3,666.8	 		 	44.1	 		 	4.78	 		 	3,576.9	 		 	41.6	 		 	4.68	 		 	3,533.1	 		 	42.2	 		 	4.81	 	
Consumer - indirect		 	8,882.9	 		 	124.5	 		 	5.58	 		 	8,938.3	 		 	126.6	 		 	5.70	 		 	8,727.4	 		 	130.3	 		 	6.01	 	
Nonaccrual and restructured		 	284.0	 		 	3.8	 		 	5.38	 		 	285.3	 		 	5.8	 		 	8.14	 		 	329.2	 		 	6.0	 		 	7.33	 	
Total loans		 	83,753.2	 		 	967.2	 		 	4.59	 		 	80,936.4	 		 	893.6	 		 	4.44	 		 	79,904.9	 		 	891.7	 		 	4.49	 	
Securities available for sale:		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Taxable		 	22,068.4	 		 	215.4	 		 	3.90	 		 	22,781.2	 		 	213.7	 		 	3.75	 		 	22,462.5	 		 	212.9	 		 	3.79	 	
Tax-exempt		 	800.9	 		 	12.6	 		 	6.27	 		 	449.7	 		 	6.5	 		 	5.81	 		 	364.6	 		 	5.7	 		 	6.21	 	
Total securities available for sale		 	22,869.3	 		 	228.0	 		 	3.99	 		 	23,230.9	 		 	220.2	 		 	3.79	 		 	22,827.1	 		 	218.6	 		 	3.83	 	
Funds sold and securities purchased under agreement to resell		 	1,403.3	 		 	5.1	 		 	1.42	 		 	1,562.8	 		 	4.1	 		 	1.04	 		 	1,240.5	 		 	3.3	 		 	1.06	 	
Loans held for sale		 	4,650.8	 		 	62.6	 		 	5.39	 		 	6,141.2	 		 	76.8	 		 	5.01	 		 	5,316.1	 		 	67.1	 		 	5.05	 	
Interest-bearing deposits		 	18.5	 		 	—	 		 	0.88	 		 	17.9	 		 	—	 		 	0.76	 		 	15.2	 		 	—	 		 	0.85	 	
Trading assets		 	1,639.0	 		 	6.1	 		 	1.47	 		 	1,767.9	 		 	6.0	 		 	1.36	 		 	1,734.4	 		 	5.4	 		 	1.24	 	
Total earning assets		 	114,334.1	 		 	1,269.0	 		 	4.42	 		 	113,657.1	 		 	1,200.7	 		 	4.25	 		 	111,038.2	 		 	1,186.1	 		 	4.30	 	
Allowance for loan losses		 	(955.4	) 		 	 	 		 	 	 		 	(953.7	) 		 	 	 		 	 	 		 	(953.7	) 		 	 	 		 	 	 	
Cash and due from banks		 	3,687.5	 		 	 	 		 	 	 		 	3,732.5	 		 	 	 		 	 	 		 	3,371.2	 		 	 	 		 	 	 	
Premises and equipment		 	1,620.4	 		 	 	 		 	 	 		 	1,617.4	 		 	 	 		 	 	 		 	1,612.0	 		 	 	 		 	 	 	
Other assets		 	6,386.4	 		 	 	 		 	 	 		 	6,430.3	 		 	 	 		 	 	 		 	6,205.7	 		 	 	 		 	 	 	
Unrealized gains on securities available for sale		 	2,055.0	 		 	 	 		 	 	 		 	2,803.9	 		 	 	 		 	 	 		 	2,580.3	 		 	 	 		 	 	 	
Total assets		$	127,128.0	 		 	 	 		 	 	 		$	127,287.5	 		 	 	 		 	 	 		$	123,853.7	 		 	 	 		 	 	 	
LIABILITIES AND SHAREHOLDERS' EQUITY		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Interest-bearing deposits:		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
NOW accounts		$	12,999.5	 		$	17.6	 		 	0.54	% 		$	12,811.6	 		$	13.4	 		 	0.42	% 		$	12,332.1	 		$	11.8	 		 	0.38	% 	
Money Market accounts		 	22,434.4	 		 	47.3	 		 	0.84	 		 	22,367.4	 		 	42.9	 		 	0.77	 		 	22,136.8	 		 	42.3	 		 	0.77	 	
Savings		 	7,424.7	 		 	15.8	 		 	0.85	 		 	6,990.9	 		 	12.7	 		 	0.73	 		 	6,334.2	 		 	10.1	 		 	0.64	 	
Consumer time		 	6,967.3	 		 	36.3	 		 	2.07	 		 	6,988.0	 		 	34.5	 		 	1.98	 		 	7,268.8	 		 	37.6	 		 	2.08	 	
Other time		 	3,805.7	 		 	23.1	 		 	2.41	 		 	3,416.6	 		 	19.7	 		 	2.32	 		 	3,392.4	 		 	19.9	 		 	2.36	 	
Total interest-bearing consumer and commercial deposits		 	53,631.6	 		 	140.1	 		 	1.04	 		 	52,574.5	 		 	123.2	 		 	0.94	 		 	51,464.3	 		 	121.7	 		 	0.95	 	
Brokered deposits		 	3,546.1	 		 	16.0	 		 	1.77	 		 	3,668.2	 		 	17.1	 		 	1.84	 		 	3,903.1	 		 	22.5	 		 	2.28	 	
Foreign deposits		 	5,795.2	 		 	21.5	 		 	1.45	 		 	6,485.7	 		 	17.1	 		 	1.04	 		 	6,097.5	 		 	16.5	 		 	1.07	 	
Total interest-bearing deposits		 	62,972.9	 		 	177.6	 		 	1.12	 		 	62,728.4	 		 	157.4	 		 	1.01	 		 	61,464.9	 		 	160.7	 		 	1.05	 	
Funds purchased and securities sold under agreements to repurchase		 	9,448.8	 		 	28.6	 		 	1.18	 		 	10,163.3	 		 	19.9	 		 	0.78	 		 	10,175.6	 		 	19.8	 		 	0.77	 	
Other short-term borrowings		 	880.6	 		 	4.1	 		 	1.84	 		 	1,004.6	 		 	3.6	 		 	1.44	 		 	2,738.5	 		 	11.0	 		 	1.62	 	
Long-term debt		 	18,099.9	 		 	165.0	 		 	3.63	 		 	16,784.1	 		 	134.7	 		 	3.23	 		 	15,412.9	 		 	130.7	 		 	3.41	 	
Total interest-bearing liabilities		 	91,402.2	 		 	375.3	 		 	1.63	 		 	90,680.4	 		 	315.6	 		 	1.40	 		 	89,791.9	 		 	322.2	 		 	1.44	 	
Noninterest-bearing deposits		 	20,490.2	 		 	 	 		 	 	 		 	20,591.6	 		 	 	 		 	 	 		 	18,896.7	 		 	 	 		 	 	 	
Other liabilities		 	5,242.7	 		 	 	 		 	 	 		 	5,821.3	 		 	 	 		 	 	 		 	5,324.8	 		 	 	 		 	 	 	
Shareholders' equity		 	9,992.9	 		 	 	 		 	 	 		 	10,194.2	 		 	 	 		 	 	 		 	9,840.3	 		 	 	 		 	 	 	
Total liabilities and shareholders' equity		$	127,128.0	 		 	 	 		 	 	 		$	127,287.5	 		 	 	 		 	 	 		$	123,853.7	 		 	 	 		 	 	 	
Interest Rate Spread		 	 	 		 	 	 		 	2.79	% 		 	 	 		 	 	 		 	2.85	% 		 	 	 		 	 	 		 	2.86	% 	
Net Interest Income — FTE		 	 	 		$	893.7	 		 	 	 		 	 	 		$	885.1	 		 	 	 		 	 	 		$	863.9	 		 	 	 	
Net Interest Margin		 	 	 		 	 	 		 	3.11	% 		 	 	 		 	 	 		 	3.13	% 		 	 	 		 	 	 		 	3.13	% 	
		
8

SunTrust Banks, Inc. and Subsidiaries
FIVE QUARTER OTHER FINANCIAL DATA

																											
 		1st Quarter
2005		4th Quarter
2004		%
Change		3rd Quarter
2004		2nd Quarter
2004		1st Quarter
2004	
CREDIT DATA
(Dollars in thousands)			
Allowance for loan and lease losses - beginning		$	1,050,024	 		$	892,974	 		 	17.6	 		$	902,243	 		$	936,972	 		$	941,922	 	
Allowance from acquisitions and other activity - net		 	—	 		 	173,844	 		 	(100.0	) 		 	—	 		 	—	 		 	—	 	
Provision for loan losses		 	10,556	 		 	37,099	 		 	(71.5	) 		 	41,774	 		 	2,827	 		 	53,837	 	
Charge-offs		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Commercial		 	(16,610	) 		 	(24,335	) 		 	(31.7	) 		 	(36,709	) 		 	(20,024	) 		 	(33,540	) 	
Real estate		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Construction		 	(797	) 		 	(1,002	) 		 	(20.5	) 		 	(2,310	) 		 	(102	) 		 	(701	) 	
Residential mortgages		 	(8,473	) 		 	(7,912	) 		 	7.1	 		 	(5,652	) 		 	(8,647	) 		 	(10,611	) 	
Other		 	(825	) 		 	(1,218	) 		 	(32.3	) 		 	(1,032	) 		 	(1,756	) 		 	(1,509	) 	
Consumer loans		 	(38,388	) 		 	(51,352	) 		 	(25.2	) 		 	(32,524	) 		 	(36,665	) 		 	(38,480	) 	
Total charge-offs		 	(65,093	) 		 	(85,819	) 		 	(24.2	) 		 	(78,227	) 		 	(67,194	) 		 	(84,841	) 	
Recoveries		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Commercial		 	9,737	 		 	14,295	 		 	(31.9	) 		 	11,511	 		 	12,520	 		 	11,617	 	
Real estate		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Construction		 	191	 		 	61	 		 	213.1	 		 	29	 		 	19	 		 	4	 	
Residential mortgages		 	1,974	 		 	2,826	 		 	(30.1	) 		 	2,738	 		 	2,176	 		 	1,928	 	
Other		 	338	 		 	679	 		 	(50.2	) 		 	350	 		 	248	 		 	115	 	
Consumer loans		 	16,019	 		 	14,065	 		 	13.9	 		 	12,556	 		 	14,675	 		 	12,390	 	
Total recoveries		 	28,259	 		 	31,926	 		 	(11.5	) 		 	27,184	 		 	29,638	 		 	26,054	 	
Net charge-offs		 	(36,834	) 		 	(53,893	) 		 	(31.7	) 		 	(51,043	) 		 	(37,556	) 		 	(58,787	) 	
Allowance for loan and lease losses – ending		$	1,023,746	 		$	1,050,024	 		 	(2.5	) 		$	892,974	 		$	902,243	 		$	936,972	 	
Net charge-offs to average loans		 	0.14	% 		 	0.21	% 		 	(33.3	) 		 	0.24	% 		 	0.19	% 		 	0.30	% 	
 			
Period Ended		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Nonaccrual loans		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Commercial		$	116,386	 		$	130,961	 		 	(11.1	) 		$	114,793	 		$	143,071	 		$	116,405	 	
Real estate		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Construction		 	36,793	 		 	32,842	 		 	12.0	 		 	24,341	 		 	20,363	 		 	18,675	 	
Residential mortgages		 	112,166	 		 	104,452	 		 	7.4	 		 	69,812	 		 	63,919	 		 	79,899	 	
Other		 	45,192	 		 	36,684	 		 	23.2	 		 	32,699	 		 	37,778	 		 	41,300	 	
Consumer loans		 	26,520	 		 	49,302	 		 	(46.2	) 		 	21,482	 		 	17,779	 		 	27,639	 	
Total nonaccrual loans		 	337,057	 		 	354,241	 		 	(4.9	) 		 	263,127	 		 	282,910	 		 	283,918	 	
Restructured loans		 	20,071	 		 	19,049	 		 	5.4	 		 	19,725	 		 	18,189	 		 	18,661	 	
Total nonperforming loans		 	357,128	 		 	373,290	 		 	(4.3	) 		 	282,852	 		 	301,099	 		 	302,579	 	
Other real estate owned (OREO)		 	27,555	 		 	28,619	 		 	(3.7	) 		 	10,934	 		 	14,246	 		 	18,380	 	
Other repossessed assets		 	7,662	 		 	8,749	 		 	(12.4	) 		 	10,431	 		 	9,076	 		 	10,953	 	
Total nonperforming assets		$	392,345	 		$	410,658	 		 	(4.5	) 		$	304,217	 		$	324,421	 		$	331,912	 	
Total nonperforming loans to total loans		 	0.34	% 		 	0.37	% 		 	(8.1	) 		 	0.33	% 		 	0.36	% 		 	0.38	% 	
Total nonperforming assets to total loans plus OREO and other repossessed assets		 	0.37	 		 	0.40	 		 	(7.5	) 		 	0.36	 		 	0.39	 		 	0.42	 	
Allowance to period-end loans		 	0.98	 		 	1.04	 		 	(5.8	) 		 	1.06	 		 	1.09	 		 	1.18	 	
Allowance to nonperforming loans		 	286.7	 		 	281.3	 		 	1.9	 		 	315.7	 		 	299.7	 		 	309.7	 	
		
9

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES
APPENDIX A TO THE PRESS RELEASE

																							
 		Quarter - to - Quarter Comparison	
 		1st Quarter
2005		4th Quarter
2004		3rd Quarter
2004		2nd Quarter
2004		1st Quarter
2004	
NON-GAAP MEASURES PRESENTED IN THE PRESS RELEASE
(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 gains 1		 	1.23	% 		 	1.18	% 		 	1.18	% 		 	1.23	% 		 	1.155	 	
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' equity 2		 	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 assets 3		$	1,868,825	 		$	1,879,268	 		$	1,539,580	 		$	1,516,779	 		$	1,454,063	 	
		
10

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES
APPENDIX A TO THE PRESS RELEASE, continued

																											
 		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 Combined 6			
 		1st Quarter
2005		1st Quarter
2004		Change
%		1st Quarter
2005		1st Quarter
2004		Change
%	
NON-GAAP DISCLOSURES FOR IMPACTS OF THREE PILLARS 5
(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	 	

 		

1	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.	
		
2	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.	
		
3	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.	
11

SunTrust Banks, Inc. and Subsidiaries
RECONCILEMENT OF NON-GAAP MEASURES
APPENDIX A TO THE PRESS RELEASE, continued

											
 		1st Quarter
2005		4th Quarter
2004	
SELECTED NON-GAAP OPERATING MEASURES AND ADJUSTED
OPERATING MEASURES PRESENTED IN THE PRESS RELEASE 1
(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 assets 2		 	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' equity 3		 	12.79	% 		 	11.93	% 	

 		

1	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.	
12

SunTrust Banks, Inc. and Subsidiaries
QUARTER-TO-QUARTER COMPARISON — ACTUAL AND HISTORICAL COMBINED GROWTH
APPENDIX B TO THE PRESS RELEASE
The 1st quarter 2004 figures represent SunTrust and NCF on a historical combined basis. See page 13 for a reconcilement of these historical combined amounts.

																																							
 		ACTUAL		HISTORICAL COMBINED	
 		1st
Quarter		4th
quarter		Increase/(Decrease)		Sequential
Annualized		1st
Quarter		1st
Quarter		Increase/(Decrease)	
 		2005		2004		Amount		%		%		2005		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 fees 1		 	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 revenue 2		 	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 assets 3		 	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 expense 4		 	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	 	
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 adjustment 5		 	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	% 	
		
13

																																							
 		ACTUAL		HISTORICAL COMBINED	
  		1st
Quarter		4th
quarter		Increase/(Decrease)		Sequential
Annualized		1st
Quarter		1st
Quarter		Increase/(Decrease)	
 		2005		2004		Amount		%		%		2005		2004		Amount		%	
SELECTED AVERAGE BALANCES (Dollars in millions)		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
Average Loans 6		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 		 	 	 	
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	 	
Consumer 7		 	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.	
		
3	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.	
14

SunTrust Banks, Inc. and Subsidiaries
SUNTRUST / NCF — SELECTED HISTORICAL FINANCIAL DATA
APPENDIX B TO THE PRESS RELEASE, continued

															
 		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 fees 1		 	287,659	 		 	49,463	 		 	337,122	 	
Trust and investment management income		 	136,218	 		 	16,498	 		 	152,716	 	
Broker / dealer revenue 2		 	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 adjustment 3		 	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	 	
		
15

															
 		1st Quarter
2004	
 		SunTrust		NCF		Pro Forma Combined	
SELECTED AVERAGE BALANCES (Dollars in millions)		 	 	 		 	 	 	
Average Loans 4		 	 	 		 	 	 		 	 	 	
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.	
16

  

SunTrust and National Commerce
Financial Integration Update

The information provided herein contains forward looking statements. Statements that are
not historical facts, including statements about SunTrust's beliefs and expectations, are
forward-looking statements. These statements are based on beliefs and assumptions by
SunTrust's management, and on information currently available to such management. The
forward-looking statements are intended to be subject to the safe harbor protection
provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements include statements preceded by,
followed by or that include the words "believes," "expects,"  "anticipates," "plans,"
"estimates," or similar expressions or future conditional verbs such as "will," "should,"
"would," and "could." Forward-looking statements speak only as of the date they are made,
and SunTrust undertakes no obligation to update publicly any of them in light of new
information or future events. Forward looking statements involve inherent risks and
uncertainties. Management cautions that a number of important factors could cause actual
results to differ materially from those contained in any forward-looking statement. Examples
of such factors include, but are not limited to: SunTrust’s ability to successfully complete the
integration of National Commerce Financial Corporation, changes in accounting principles,
policies or guidelines; changes in the securities markets; changes in regulatory
requirements; competitive pressures and changes in the economy. For a more thorough
discussion of factors that could impact actual results, see the "A Warning About Forward-
Looking Information" section of SunTrust's 2004 annual report filed on Form 10-K with the
SEC. For further information regarding SunTrust, please read the SunTrust reports filed
with the SEC and available at www.sec.gov .
1

Discussion Overview
SunTrust and National Commerce Financial Integration Update
Review High Level Timeline and Recent Events
Overview of Customer Mailing and Calling Programs
Overview of Core Conversion Readiness
Financial Update
2

High Level Timeline
Wealth & Inv. Mgt. –
Brokerage/Insurance
Conversion (1/3)
NCFFS Conversion (1/3)
Safekeeping Conversion (1/3)
Testing
Conversion-only
Cycles (12/17)
Integrated Test
Complete (2/10)
Client Acceptance Testing
Complete (3/17)
Implementation
Dress
Rehearsal I
Complete
(3/22)
Dress
Rehearsal 2
Complete
(4/5)
(4/22)
Merge Banc
Mortgage (2/18)
Fixed Income
Conversion (2/21)
Payroll / Benefits
Conversion (1/4)
Treasury Portfolio
Conversion (1/3)
Equity Conversions
(2/21)
First Market
Deconversion
(1/24)
Mortgage Servicing
Conversion – Other
(3/31)
Rollout of SunTrust  
version of
Salesforce.com (7/31)
National
Commerce  
Trust
Conversion
(9/30)
Early cutover of
Consumer Loan
(2/22)
KEY
Core Conversion Activity
Merger Event
GL Implementation
Phase II (1/3)
CCMI Conversion
(12/31)
Banc Financial
Services (2/18)
Prestwick Mortgage
Group (2/18)
GL Implementation
Phase III (2/22)
Merge NBC/CCB
Mortgage (1/31)
Greene County
Divestiture (12/10)
TODAY
Fixed Asset
Conversion Phase I (1/3)
First Market Credit Card
Sale Deconversion to
ELAN (3/18)
Items in black represent
Completed Events.
Accounts Payable Conversion (1/3)
November
December
January
February
March
8
15
22
29
6
13
20
27
3
10
17
24
31
7
14
21
28
7
14
21
28
April
4
11
18
25
May
2
9
16
23
30
June
July
August
September
6
13
20
27
4
11
18
25
1
8
15
22
29
5
12
19
26
Mortgage Servicing
Conversion –
Freddie Mac
(3/16)
Fixed Assets
Conversion Phase II
(3/22)
Officer Knowledge
Conversion (1/4)
3

Recently Completed Integration Events
Our integration planning has materialized into a series of successful conversions and
integration events creating employee confidence leading into the core conversion.
All NCF interfacing applications began posting directly to the SunTrust General Ledger
system.
Accounting
February 22
General Ledger
Implementation
Workstations at all 428 legacy NCF branches prepared and all 1,827 non-branch
workstations prepared.
Network capacity upgrades completed for NCF branches and SunTrust core backbone
circuits.
Computer and Data Storage capacity upgrades completed for mainframes and
distributed systems.
Full integration between NCF and SunTrust network infrastructure (e.g. data circuits,
servers, workstations, etc.).
Enterprise
Information
Systems
February 28
Enterprise
Information Systems
Infrastructure
Completed
Integration of BancMortgage origination business in Atlanta.  Included personnel,
systems, websites, and product conversions.
Mortgage
February 18
Banc Mortgage
Conversion
New York Stock Exchange approval and successful conversion of Fixed Income and
Equity.
Corporate and
Investment
Banking
February 21
Capital Markets
Conversions
February 22
January 31
Date
Retail
Mortgage
Owner
Highlights
Event
Workstation upgrades to over 400 NCF locations including the SunTrust dual image and
new printers.
Consumer Loan Early
Cutover
Integration of mortgage origination business in the Carolinas and Tennessee.  Included
personnel, systems, websites, and product conversions.
National Bank of
Commerce/Central
Carolina Bank
Mortgage Origination
Conversion
4

Recently Completed Integration Events
As of April 8, 2005 have completed over 94,000 retention calls.  Total program
calls for over 109,000 calls before April 22 conversion including calling all high-
value customers.
Bankers
April 8
Customer Retention
Efforts
Core conversion, batch processing, and business simulation activities were
successfully tested with no significant client impacts.
Retail Internet Banking was successfully tested.
Small Business Internet Banking platform was successfully tested in the
production environment.
Identified process improvement opportunities from Dress Rehearsal I were well
executed in Dress Rehearsal II.
All
March 22 and April 5
Dress Rehearsals
Converted 20,000 mortgage loans from Durham servicing to SunTrust Mortgage
in Richmond.
Mortgage
March 31
Mortgage Servicing
Conversion
Approximately 1.2 million consumer and business letters were mailed between
March 7 and March 18.  Total mailings will exceed 4.5 million by May 2005.
Marketing
March 7
Master Mail Drop
Product training is 100% complete (requires employee to complete 80% correct
for passing grade).
Human
Resources
March 15
Training
Loaded all NCF fixed assets to SunTrust Fixed Asset system.
Accounting
March 22
Fixed Asset
Conversion
Date
Owner
Highlights
Event
5

Customer Retention – Mailing Program
Letters sent through March 31, 2005
Planned letters: April 2005 – May 2005
Key Communications Highlights:
1 MM Welcome Letters (Mail Date: 10/11/04)
1.2 MM Consumer and Business Letters (Mail Dates: 3/7/05 – 3/18/05)
246 M Consumer Online Banking Letter (Mail Date: 3/30/05)
787 M Business and Consumer Card Mailings (May Date:4/8/05 – 4/15/05)
95
2,901
Total
9
24
Mortgage
27
65
CIB/Commercial
32
112
Wealth & Investment
Management
27
2,700
Retail
Number of
Mailings
Letters Mailed
(000)
LOB
29
1,415
Total
1
.7
Mortgage
11
55.5
CIB/Commercial
1
1
Wealth & Investment
Management
16
1,358
Retail
Number of
Mailings
Letters Mailed
(000)
LOB
We have delivered over 2.9 million conversion-related mailings to our customers
across all lines of business and will deliver another 1.4 million by the end of May 2005.
6

Measuring Success – Customer Retention
Plans/Customer Calls
March 7 – March 18
300
Asset Management Accounts
December 2004 – Jan 2005
1,000
Security Clients
Wealth and Investment
Management
April 4 – April 20
1,915
Commercial
Commercial
February 15 – April 15
180
Treasury Management
10,939
6,679
74,239
Calls made  as of April 8
February 8 – March 4
March 7 – March 25
March 7 – March 25
Timeframe of Contacts
Private Banking
Business Banking
Branch
Sub Line of Business
Retail
Line Of Business
Direct telephone contact to all high-value customers to address questions and ensure a
seamless transition.
Over 109,000 NCF customer calls by over 1,400 employees will be made prior to core
conversion.
Targeted calling programs are scheduled based on events such as branch consolidations,
rate migrations, and safe deposit box relocations.
7

Core Conversion Readiness
Readiness
Readiness Area

Bank Management is engaged and “owns” the outcome

Dress Rehearsals were executed successfully; contingency plans exist and are in place

No legal, regulatory, or compliance hurdles exist

Application software and business processes are fully developed and thoroughly tested

Capacity upgraded to handle additional volume and activity (surge and peak ongoing operations)

Receiving operational units are adequately staffed and trained

Customer-facing employees are empowered; special customer care procedures are in place

Customer and employee attrition are at business as usual levels or better
We have assessed ourselves against eight factors we believe are critical to a successful
integration.
8

       Completed
     Due This Period
Executive Summary – Milestones
Prior/Current
Upcoming
For the next two weeks, there are 182 milestones due to be completed.  
In addition, there are 97 milestones due for completion during the last week in April.
9

Executive Summary – Milestones Summary by
Working Team
1883
295
182
1406
Total
13
1
0
12
Employee Experience
39
4
13
22
Treasury
292
34
31
227
Retail
83
19
3
61
Real Estate
65
3
7
55
Procurement
32
8
3
21
Wealth and Invest. Mgt.
16
4
0
12
Op Risk
21
0
0
21
Mortgage
419
34
59
326
Marketing
23
5
2
16
Legal
75
18
4
53
Training
53
8
0
45
HR
32
9
0
23
Finance
333
44
25
264
EIS
37
12
5
20
Credit
50
9
3
38
Controllers
124
48
10
66
Commercial
85
14
5
66
CIB
73
9
12
52
Bank Operations
4
0
0
4
Audit
Total
Remaining
Total Upcoming
(Due 4/9 - 4/22)
Completed to
Date
Working Team
We have completed over 1,400 integration milestones.
10

Cost Savings Summary
Through Q1 2005, merger cost saves have been achieved as planned.
Current forecasts indicate that full year 2005 savings and 2006 (end-state run-rate) savings will
be achieved as planned.
Merger-related cost-save benefits
Actual
Plan
Actual
vs Plan
2005 Plan
2006 Plan
Announced Merger Benefits
-
-
-
$70
$117
Current Merger Benefits
$8
$8
$0
$76
$125
% of Total Cost Savings Achieved
6%
6%
-
61%
100%
11

Cost Savings Summary
Total Cost Saves and Top Cost Saves Initiatives by Line of Business and Functional Unit
(dollars in millions)
($0.1)
(1.1)
0.0
0.3
0.1
0.0
$0.6
Actual
vs. Plan
$125.1
$76.4
$8.3
$8.2
Totals
79.9
47.4
4.5
3.4
Staff consolidation, branch closings,
elimination of certain contracts and projects,
procurement savings, technology
improvements
Total Functions
& Administration
3.2
2.5
0.5
0.5
Back office consolidation
CIB
6.5
4.3
0.5
0.8
Elimination of duplicative back office functions
Mortgage
6.0
4.3
0.9
1.0
Back office consolidation, data processing &
telecom efficiencies
Wealth &
Investment
Management
2.1
2.2
0.6
0.6
EIS cost saves, procurement savings
Commercial
$27.4
$15.7
$1.3
$1.9
Consolidation of branches, procurement
savings
Retail
2006
Plan
2005
Plan
Plan
Actual
Top Cost Savings Initiative
Line of Business
Anticipated
Cumulative
Cost Savings
2005 Year To Date
12

Original estimate of the one-time expense goal of $125MM remains unchanged.  
Recorded 21% or $25.7MM of one-time expenses in 1Q ‘05; to date have recorded 43% or
$54.2MM.
Anticipate the remaining $70.8MM, or 57%, will be incurred in 2 nd and 3 rd quarters of ’05.
We estimate the timing of the $70.8MM to be as follows:  
  Q2 estimated: 60-75%
  Q3 estimated:  25-40%
One-Time Merger Expenses Timing
13