8-K Cover Page - 3Q 2014 Earnings

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):		October 17, 2014

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)	(I.R.S. Employer Identification No.)


303 Peachtree Street, N.E., Atlanta, Georgia		30308
(Address of principal executive offices)		(Zip Code)



Registrant's telephone number, including area code		(404) 558-7711



		Not Applicable
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD.

On October 17, 2014, SunTrust Banks, Inc. (the “Registrant”) announced financial results for the period ended September 30, 2014. A copy of the news release announcing such results is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The Registrant intends to hold an investor call and webcast to discuss these results on October 17, 2014, at 9:00 a.m. Eastern time. Additional presentation materials relating to such call are furnished hereto as Exhibit 99.2 and are incorporated herein by reference.

The foregoing information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition,” and Item 7.01, “Regulation FD.” Consequently, it is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. It may only be incorporated by reference into another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K. All information in the news release and presentation materials speak as of the date thereof and the Registrant does not assume any obligation to update said information in the future. In addition, the Registrant disclaims any inference regarding the materiality of such information which otherwise may arise as a result of its furnishing such information under Item 2.02 or Item 7.01 of this report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 News release dated October 17, 2014 (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:	October 17, 2014	By: /s/ Thomas E. Panther
		Thomas E. Panther,
		Senior Vice President, Director of Corporate Finance and Controller

09.30.14-Exhibit 99.1 ER Narrative

Exhibit 99.1

News Release



Contact:
Investors		Media
Ankur Vyas		Hugh Suhr
(404) 827-6714		(404) 827-6813

For Immediate Release

October 17, 2014

SunTrust Reports Third Quarter 2014 Results

Balance Sheet Growth and Efficiency Improvements Drive Solid Overall Performance;

Asset Quality and Capital Position Remain Strong

ATLANTA -- SunTrust Banks, Inc. (NYSE: STI) today reported net income available to common shareholders of $563 million, or $1.06 per average common diluted share. During the current quarter the Company recognized a $130 million tax benefit, or $0.25 per share, as a result of the completion of a tax authority examination. Excluding the tax benefit and prior period 8-K items, adjusted earnings per share were $0.81 compared to $0.81 in the prior quarter and $0.66 in the third quarter of 2013. For the first nine months of 2014, earnings per share were $2.51, and adjusted earnings per share were $2.35, 19% higher than the same period of 2013.

The following table summarizes reported results and notable items impacting earnings per share during the periods discussed above (in addition, see Appendix A for reconcilement of non-GAAP measures):



								Nine Months Ended
								September 30
	3Q 2013		2Q 2014		3Q 2014			2013		2014
Earnings per average common diluted share		$0.33		$0.72		$1.06			$1.64		$2.51
Impact of:
3Q 2013 Form 8-K items	0.33							0.33
2Q 2014 Form 8-K and other mortgage-related items			0.09							0.09
3Q 2014 income tax benefit					(0.25		)			(0.25		)
Adjusted earnings per average common diluted share		$0.66		$0.81		$0.81			$1.97		$2.35

“We delivered solid performance this quarter driven by increased client loan and deposit business, further efficiency improvements, and continued strong asset quality performance, which helped mitigate the impact of the continued challenging low rate environment,” said William H. Rogers, Jr., chairman and chief executive officer of SunTrust Banks, Inc. “We are creating positive momentum and are intensely focused on executing our core strategies, fulfilling more of our clients' needs, and delivering a more profitable and valuable company for all of our stakeholders.”

Third Quarter 2014 Financial Highlights

Income Statement


•	Net income available to common shareholders was $563 million, or $1.06 per average common diluted share; excluding the $130 million tax benefit in the current quarter, net income available to common shareholders was $433 million, or $0.81 per share.


◦	On an adjusted basis, earnings per share were flat compared to the prior quarter and increased $0.15, or 23%, compared to the third quarter of 2013.


•	Total revenue declined $170 million, compared to the prior quarter primarily driven by the $105 million gain on sale of RidgeWorth in the prior quarter and foregone RidgeWorth-related revenue, as well as a decline in investment banking income.


•	Compared to the third quarter of 2013, total revenue increased 6%. Excluding the $63 million incremental mortgage repurchase provision incurred in the third quarter of 2013, total revenue increased 2% driven primarily by higher mortgage servicing income.


•	Reported noninterest expense decreased $258 million compared to the prior quarter. Excluding the $179 million in specific legacy mortgage-related losses incurred in the prior quarter, noninterest expense declined $79 million, or 6%.


•	The efficiency and tangible efficiency ratios in the quarter were 62.0% and 61.7%, respectively.

Balance Sheet


•	For the third quarter, total loans (on a period-end basis) increased 2% and 6% compared to June 30, 2014 and September 30, 2013, respectively, with the growth occurring in C&I, commercial real estate, and consumer loans, while residential mortgage loans continued to trend down.


◦	Average performing loans were unchanged as growth in the commercial and consumer portfolios was offset by the $2 billion transfer of guaranteed residential mortgage loans to loans held for sale in the second quarter. The ultimate sale was subsequently completed in the third quarter.


•	Average investment securities increased 6% sequentially and 7% compared to the third quarter of 2013 in anticipation of forthcoming liquidity-related regulatory requirements.


•	Average client deposits increased 1% sequentially and 4% compared to the third quarter of 2013, with the favorable mix shift toward lower-cost deposits continuing.

Capital


•	Estimated capital ratios continued to be well above regulatory requirements. The Basel I Tier 1 common and Basel III common equity Tier 1 ratios were estimated to be 9.6% and 9.7%, respectively.


•	During the quarter, the Company repurchased $215 million of common shares.


•	Book value per share was $40.85 and tangible book value per common share was $29.21, both up 2% compared to June 30, 2014. The increase was primarily due to growth in retained earnings.

Asset Quality


•	Asset quality continued to improve as nonperforming loans decreased 15% from the prior quarter and totaled 0.58% of total loans at September 30, 2014.


•	Annualized net charge-offs increased 4 basis points sequentially, representing 0.39% of average loans.


•	The provision for credit losses increased $20 million compared to the prior quarter primarily due to a modest increase in net charge-offs.




(Dollars in millions, except per share data)
Income Statement (presented on a fully taxable-equivalent basis)	3Q 2013			2Q 2014			3Q 2014
Net income available to common shareholders	$179			$387			$563
Earnings per average common diluted share	0.33			0.72			1.06
Adjusted earnings per average common diluted share ⁽¹⁾	0.66			0.81			0.81
Total revenue	1,920			2,201			2,031
Net interest income	1,240			1,244			1,251
Provision for credit losses	95			73			93
Noninterest income	680			957			780
Noninterest expense	1,730			1,517			1,259
Net interest margin	3.19		%	3.11		%	3.03		%

Balance Sheet
(Dollars in billions)
Average loans		$122.7			$130.7			$130.7
Average consumer and commercial deposits	126.6			130.5			132.2

Capital
Tier 1 capital ratio ⁽²⁾	10.97		%	10.66		%	10.50		%
Tier 1 common ratio ⁽²⁾	9.94		%	9.72		%	9.60		%
Total average shareholders’ equity to total average assets	12.24		%	12.23		%	12.10		%

Asset Quality
Net charge-offs to average loans (annualized)	0.47		%	0.35		%	0.39		%
Allowance for loan and lease losses to period-end loans	1.67		%	1.55		%	1.49		%
Nonperforming loans to total loans	0.83		%	0.69		%	0.58		%

(1) See page 24 for non-GAAP reconciliation

(2) Current period Tier 1 capital and Tier 1 common ratios are estimated as of the date of this news release.

Consolidated Financial Performance Details

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

Revenue

Total revenue was $2.0 billion for the current quarter, a decline of $170 million, compared to the prior quarter. Excluding the $105 million gain on sale of RidgeWorth in the prior quarter, total revenue declined $65 million, or 3%. The decrease was primarily driven by a decline in investment banking income and foregone RidgeWorth-related revenue. Compared to the third quarter of 2013, total revenue increased $111 million; however, the third quarter of 2013 included a $63 million incremental mortgage repurchase provision expense in conjunction with the settlement of Government Sponsored Entities ("GSE") repurchase claims. The remaining increase was primarily driven by higher mortgage servicing income, gains on the sale of mortgage loans held for sale in the current quarter, higher retail investment services income and a slight increase in net interest income, partially offset by the foregone RidgeWorth revenue.

For the nine months ended September 30, 2014, total revenue was $6.3 billion, an increase of $128 million compared to the first nine months of 2013. The increase was primarily driven by the gain on the sale of RidgeWorth (partially offset by the foregone associated wealth management revenue), gains on the sale of mortgage loans in 2014, and higher mortgage servicing, investment banking, and retail investment income. These revenue increases were partially offset by significantly lower mortgage production income driven by a decline in loan production volume.

Net Interest Income

Net interest income was $1.3 billion for the current quarter, an increase of $7 million compared to the prior quarter. The increase was primarily due to one additional day in the current quarter and higher average earning assets, partially offset by an 8 basis point decline in net interest margin. Compared to the third quarter of 2013, net interest income increased $11 million primarily due to higher average loan balances, partially offset by a 16 basis point decline in net interest margin.

Net interest margin for the current quarter was 3.03%, a decline of 8 basis points from the prior quarter, primarily driven by a 7 basis point decline in loan yields and a 9 basis point decline in investment securities yields. Compared to the third quarter of 2013, net interest margin declined 16 basis points due to a 21 basis point reduction in loan yields.

For the nine months ended September 30, 2014 and 2013, net interest income was virtually unchanged at $3.7 billion. The net interest margin was 3.11% for the first nine months of 2014, a 14 basis point decline compared to the same period in 2013. The decline in net interest margin was primarily driven by lower loan yields.

Noninterest Income

Noninterest income was $780 million for the current quarter, compared to $957 million for the prior quarter and $680 million for the third quarter of 2013. Excluding the $105 million gain on sale of RidgeWorth from the prior quarter, noninterest income declined $72 million sequentially. The sequential quarter decrease was due to a $31 million decline in investment banking income, a $23 million decline in trust and investment management revenue as a result of the sale of RidgeWorth, the recognition of a $49 million impairment of lease financing assets, and a $9 million loss on the sale of investment securities. These declines were partially offset by a $41 million gain related to the $2 billion guaranteed residential mortgage loan sale in the current quarter. Compared to the third quarter of 2013, noninterest income increased $100 million of which $63 million related to aforementioned mortgage repurchase provision. The remaining increase was primarily due to the aforementioned $41 million gain, higher mortgage servicing income, partially offset by the foregone RidgeWorth wealth management revenue. Additionally, retail investment income, service charges on deposit accounts and other fee-based income increased modestly over the same period last year.

Mortgage production income for the current quarter was $45 million compared to $52 million for the prior quarter and a $10 million loss for the third quarter of 2013. The $7 million decrease compared to the prior quarter was primarily driven by a decline in gain on sale margins. Compared to the third quarter of 2013, mortgage production income increased $55 million. This was primarily due to the aforementioned $63 million mortgage repurchase provision incurred last year. Mortgage production volume declined 43% during the current quarter compared to the third quarter of 2013 largely attributable to the decline in refinance activity, while gain on sale margins improved compared to the same period last year.

Mortgage servicing income was $44 million in the current quarter compared to $45 million in the prior quarter and $11 million the third quarter of 2013. Compared to the third quarter of 2013, the $33 million increase was primarily due to a decline in loan prepayments, resulting in lower decay and improved net MSR hedge performance. The servicing portfolio was $136 billion at September 30, 2014 compared to $140 billion at September 30, 2013.

Investment banking income was $88 million for the current quarter compared to $119 million in the prior quarter and $99 million in the third quarter of 2013. The sequential quarter decrease was driven by the strong performance in the second quarter in addition to seasonally lower client activity levels. Compared to the third quarter of 2013, the decline was largely attributable to lower M&A advisory revenues. Trading income was $46 million for the current quarter compared to $47 million for the prior quarter and $33 million for the third quarter of 2013. The $13 million increase compared to the third quarter of 2013 was partially driven by a $7 million improvement in mark-to-market valuations on the Company's debt carried at fair value and slightly higher core trading revenue.

Trust and investment management income was $93 million for the current quarter compared to $116 million in the prior quarter and $133 million in the third quarter of 2013. The declines compared to both periods were due to the foregone revenue as a result of the sale of RidgeWorth.

Other noninterest income was $52 million for the current quarter compared to $170 million for the prior quarter and $10 million for the third quarter of 2013. The $118 million decrease compared to the prior quarter was driven by the $105 million gain on sale of RidgeWorth in the prior quarter and a $49 million impairment of lease financing assets in the current quarter, partially offset by a $22 million increase in gains on the sale of government guaranteed residential mortgage loans over the prior quarter and higher leasing-related income. The $42 million increase compared to the third quarter of 2013 was primarily driven by the previously discussed $41 million loan sale gain.

For the nine months ended September 30, 2014, noninterest income was $2.5 billion, an increase of $127 million over the same period in 2013. Excluding the $105 million gain on sale of RidgeWorth, noninterest income increased $22 million, largely driven by higher mortgage servicing, investment banking, retail investment income, and gains related to the sale of mortgage loans. These increases were partially offset by declines in mortgage production income and foregone wealth management revenue related to the sale of RidgeWorth.

Noninterest Expense

Noninterest expense for the current quarter was $1.3 billion compared to $1.5 billion in the prior quarter and $1.7 billion in the third quarter of 2013. Both the prior quarter and third quarter of 2013 included charges of $179 million and $419 million, respectively, related to the resolution of certain legacy mortgage-related matters. Excluding these items from the prior quarters, noninterest expense declined $79 million on a sequential quarter basis and $52 million compared to the third quarter of 2013. The decline compared to both prior quarters was the result of our overall efficiency and expense management focus, the sale of RidgeWorth, and a decline in cyclical costs.

Employee compensation and benefits expense was $730 million in the current quarter compared to $763 million in the prior quarter and $682 million in the third quarter of 2013. The sequential quarter decrease of $33 million was primarily the result of the sale of RidgeWorth, a reduction in the number of full time-equivalent employees, and declines in payroll taxes and 401(k) and medical costs. The $48 million increase from the third quarter of 2013 was primarily due to a $37 million incentive accrual reduction recognized in the third quarter of 2013.

Operating losses were $29 million in the current quarter compared to $218 million in the prior quarter, which included $179 million of legacy mortgage-related expenses, and $350 million in the third quarter of 2013, which included $323 million of legacy mortgage-related expenses.

Outside processing and software expense was $184 million in the current quarter compared to $181 million in the prior quarter and $190 million in the third quarter of 2013. The $6 million decrease compared to the third quarter of 2013 was primarily due to lower mortgage production volume.

Marketing and customer development expense was $35 million in the current quarter compared to $30 million in the prior quarter and $34 million in the third quarter of 2013. The $5 million sequential quarter increase was due to a seasonal increase in advertising expenses.

FDIC premium and regulatory costs were $29 million in the current quarter and reflected an $8 million refund received from the FDIC. FDIC premium and regulatory costs were $40 million in the prior quarter and $45 million in the third quarter of 2013. The decline related to both periods was due to a reduction in the FDIC insurance premium related to improvements in the Company's risk profile.

Other noninterest expense was $120 million in the current quarter compared to $156 million in the prior quarter and $292 million in the third quarter of 2013. The $36 million sequential quarter decrease was driven by certain discrete charges incurred in the prior quarter, an $8 million recovery during the third quarter of the market value of legacy affordable housing investments that were impaired in the first quarter of 2014, and a reduction in severance costs. The $172 million decrease from the prior year was driven by a $96 million increase in the mortgage servicing advance allowance in the third quarter of 2013 and lower credit and collections services expenses, severance costs, and real estate-related charges compared to 2013.

For the nine months ended September 30, 2014, noninterest expense was $4.1 billion compared to $4.5 billion in 2013. The $336 million decrease was due to lower legacy mortgage-related charges as described previously and broad-based declines in other operating expenses driven by the continued focus on expense management, which were partially offset by higher employee compensation costs.

Income Taxes

For the current quarter, the Company recorded an income tax provision of $67 million compared to $173 million for the prior quarter and a $133 million tax benefit for the third quarter of 2013. The current quarter tax provision included a $130 million tax benefit as a result of the completion of a tax authority examination. Excluding this benefit, the effective tax rate in the current quarter was 30.6%.

Balance Sheet

At September 30, 2014, the Company had total assets of $186.8 billion and shareholders’ equity of $22.3 billion, representing 12% of total assets. Book value per share was $40.85 and tangible book value per common share was $29.21, both up 2% compared to June 30, 2014, driven by growth in retained earnings.

Loans

Average performing loans were $129.9 billion for the current quarter, relatively stable compared to the prior quarter; however, the current quarter was impacted by the transfer and subsequent sale of $2 billion of government guaranteed mortgage loans. The Company invested the proceeds of this sale into high-quality liquid securities in anticipation of forthcoming liquidity-related regulatory requirements. The decline in mortgage loans was offset by a $1.6 billion, or 3%, increase in C&I loans, a $334 million, or 6%, increase in commercial real estate loans, and a $534 million, or 16%, increase in consumer direct loans as targeted loan growth continued during the quarter. Compared to the third quarter of 2013, average performing loans increased $8.3 billion, or 7%, as growth occurred in most portfolios with the exception of residential-related loans.

Deposits

Average client deposits for the current quarter were $132.2 billion compared to $130.5 billion in the prior quarter and $126.6 billion in the third quarter of 2013. Average client deposits increased $1.7 billion, or 1%, during the current quarter due to a $0.9 billion, or 2%, increase in average demand deposits, along with a $2.6 billion, or 6%, increase in money market account balances. The growth in these deposit balances was partially offset by a $1.0 billion, or 3%, decline in NOW account balances and a $0.7 billion, or 6%, decline in time deposit balances. Compared to the third quarter of 2013, average client deposits increased $5.6 billion, or 4%. The growth was driven by increases in lower-cost deposits and was partially offset by a $2.4 billion, or 17%, decrease in time deposits.

Capital and Liquidity

The Company’s estimated capital ratios are well above current regulatory requirements with Basel I Tier 1 capital, Basel I Tier 1 common, and Basel III common equity Tier 1 ratios at an estimated 10.50%, 9.60%, and 9.70%, respectively, at September 30, 2014. The ratios of total average equity to total average assets and tangible equity to tangible assets were 12.10% and 8.94%, respectively, at September 30, 2014, and declined slightly compared to June 30, 2014 due to balance sheet growth. The Company continues to have substantial available liquidity in the form of its client deposit base, cash, high-quality government-backed securities, and other available funding sources.

During the third quarter, the Company declared a common stock dividend of $0.20 per common share. Additionally, during the current quarter, the Company repurchased $215 million of its common stock. The Company currently expects to repurchase approximately $230 million of additional common stock over the next two quarters.

Asset Quality

Total nonperforming assets were $934 million at September 30, 2014, down 10% compared to the prior quarter and 28% compared to third quarter of 2013. During the current quarter the Company transferred $53 million of nonperforming mortgage loans to held for sale and recognized a $9 million charge-off upon transfer. At September 30, 2014, the percentage of nonperforming loans to total loans was 0.58% compared to 0.69% at June 30, 2014. Other real estate owned totaled $112 million, an 18% decrease from the prior quarter.

The provision for credit losses was $93 million, compared to $73 million for the prior quarter, as net charge-offs increased modestly, while positive loan growth was offset by improvements in asset quality. The provision for credit losses was essentially stable compared to the third quarter of 2013. Net charge-offs were $128 million during the current quarter, a $15 million increase that was partially driven by the aforementioned charge-off related to the transfer of nonperforming mortgage loans to held for sale. Compared to the third quarter 2013, net charge-offs declined $18

million mostly attributable to C&I loans and the home equity portfolio. The ratio of annualized net charge-offs to total average loans was 0.39% during the current quarter compared to 0.35% during the prior quarter and 0.47% during the third quarter of 2013.

At September 30, 2014, the allowance for loan and lease losses was $2.0 billion and represented 1.49% of total loans, a $35 million and six basis point decrease from June 30, 2014. The decline in the allowance for loan and lease losses and the allowance to total loans ratio was due to asset quality improvements during the quarter.

Early stage delinquencies declined 4 basis points from the prior quarter to 0.59% at September 30, 2014. Excluding government-guaranteed loans, early stage delinquencies were 0.30%, generally stable to the prior quarter.

Accruing restructured loans totaled $2.6 billion, and nonaccruing restructured loans totaled $0.3 billion at September 30, 2014, of which $2.7 billion of restructured loans related to residential loans, $0.1 billion were commercial loans, and $0.1 billion related to consumer loans.

BUSINESS SEGMENT FINANCIAL PERFORMANCE

Business Segment Results

The Company has included business segment financial tables as part of this release. The Company’s business segments include: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. All revenue in the business segment tables is reported on a fully taxable-equivalent basis. For the business segments, results include net interest income, which is computed using matched-maturity funds transfer pricing. Further, provision for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision attributable to quarterly changes in the allowance for loan and lease losses and unfunded commitment reserve balances. SunTrust also reports results for Corporate Other, which includes the Treasury department as well as the residual expense associated with operational and support expense allocations. The Corporate Other segment also includes differences created between internal management accounting practices and generally accepted accounting principles ("GAAP") and certain matched-maturity funds transfer pricing credits and charges. A detailed discussion of the business segment results will be included in the Company’s forthcoming Form 10-Q.

Corresponding Financial Tables and Information

Investors are encouraged to review the foregoing summary and discussion of SunTrust’s earnings and financial condition in conjunction with the detailed financial tables and information which SunTrust has also published today and SunTrust’s forthcoming Form 10-Q. Detailed financial tables and other information are also available at investors.suntrust.com. This information is also included in a current report on Form 8-K furnished with the SEC today.

Conference Call

SunTrust management will host a conference call on October 17, 2014, at 9:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Individuals may call in beginning at 8:45 a.m. (Eastern Time) by dialing 1-888-972-7805 (Passcode: 3Q14). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 3Q14). A replay of the call will be available approximately one hour after the call ends on October 17, 2014, and will remain available until November 17, 2014, by dialing 1-800-873-2056 (domestic) or 1-402-220-5373 (international). Alternatively, individuals may listen to the live webcast of the presentation by visiting the SunTrust investor relations website at investors.suntrust.com. Beginning the afternoon of October 17, 2014, listeners may access an archived version of the webcast in the “Events & Presentations” section of the investor relations website. This webcast will be archived and available for one year.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation’s largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. The Company operates an extensive branch and ATM network throughout the Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, and trust and investment management services. Through various subsidiaries, the Company provides mortgage banking, insurance, brokerage, equipment leasing, and capital markets services. SunTrust’s Internet address is www.suntrust.com.

Important Cautionary Statement About Forward-Looking Statements

This news release includes non-GAAP financial measures to describe SunTrust’s performance. The reconciliations of those measures to GAAP measures are provided within or in the appendix to this news release. In this news release, the Company presents net interest income and net interest margin on a fully taxable-equivalent (“FTE”) basis, and ratios on an annualized basis. The FTE basis adjusts for the tax-favored status of income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and provides relevant comparison between taxable and non-taxable amounts.

This news release contains forward-looking statements. Statements regarding potential future share repurchases, and future expected dividends are forward-looking statements. Also, any statement that does not describe historical

or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “forecast,” “goals,” “targets,” “initiatives,” “focus,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events.

Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward looking statements. Future dividends, and the amount of any such dividend, must be declared by our board of directors in the future in their discretion. Also, future share repurchases and the timing of any such repurchase are subject to market conditions and management's discretion. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2013 and in other periodic reports that we file with the SEC.

SunTrust Banks, Inc. and Subsidiaries

FINANCIAL HIGHLIGHTS

(Dollars in millions and shares in thousands, except per share data) (Unaudited)



	Three Months Ended September 30						%		Nine Months Ended September 30						%
	2014			2013			Change ⁵		2014			2013			Change
EARNINGS & DIVIDENDS
Net income		$576			$189		NM			$1,380			$918		50	%
Net income available to common shareholders	563			179			NM		1,343			884			52
Net income available to common shareholders, excluding the impact of Form 8-K and other legacy mortgage-related items ¹	433			358			21		1,262			1,063			19
Total revenue - FTE ^{1, 2}	2,031			1,920			6		6,262			6,134			2
Total revenue - FTE excluding gain on sale of asset management subsidiary ^{1, 2}	2,031			1,920			6		6,157			6,134			—
Net income per average common share
Diluted	1.06			0.33			NM		2.51			1.64			53
Diluted, excluding the impact of Form 8-K and other legacy mortgage-related items ¹	0.81			0.66			23		2.35			1.97			19
Basic	1.07			0.33			NM		2.54			1.65			54
Dividends paid per common share	0.20			0.10			100		0.50			0.25			100
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets		$183,433			$171,838		7	%		$180,098			$172,061		5	%
Earning assets	163,688			154,235			6		160,491			153,412			5
Loans	130,747			122,672			7		130,010			121,649			7
Intangible assets including MSRs	7,615			7,643			—		7,632			7,493			2
MSRs	1,262			1,232			2		1,249			1,077			16
Consumer and commercial deposits	132,195			126,618			4		130,369			126,947			3
Brokered time and foreign deposits	1,624			2,007			(19	)	1,841			2,083			(12	)
Total shareholders’ equity	22,191			21,027			6		21,972			21,138			4
Preferred stock	725			725			—		725			725			—
As of
Total assets									186,818			171,777			9
Earning assets									165,434			154,802			7
Loans									132,151			124,340			6
Allowance for loan and lease losses									1,968			2,071			(5	)
Consumer and commercial deposits									135,077			126,861			6
Brokered time and foreign deposits									1,430			2,022			(29	)
Total shareholders’ equity									22,269			21,070			6
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	1.25		%	0.44		%	NM		1.02		%	0.71		%	44	%
Return on average common shareholders’ equity	10.41			3.49			NM		8.45			5.79			46
Return on average tangible common shareholders' equity ¹	14.59			5.10			NM		11.92			8.44			41
Net interest margin ²	3.03			3.19			(5	)	3.11			3.25			(4	)
Efficiency ratio ^{2, 3}	62.03			90.13			(31	)	66.01			72.88			(9	)
Tangible efficiency ratio ^{1, 2, 3}	61.69			89.82			(31	)	65.79			72.58			(9	)
Effective tax rate^{3, 5}	10.37			NM			NM		20.90			16.67			25
Tier 1 common ⁴									9.60			9.94			(3	)
Tier 1 capital ⁴									10.50			10.97			(4	)
Total capital ⁴									12.30			13.04			(6	)
Tier 1 leverage ⁴									9.50			9.46			—
Total average shareholders’ equity to total average assets	12.10			12.24			(1	)	12.20			12.29			(1	)
Tangible equity to tangible assets ¹									8.94			8.98			—

Book value per common share										$40.85			$37.85		8
Tangible book value per common share ¹									29.21			26.27			11
Market price:
High		$40.86			$36.29		13		41.26			36.29			14
Low	36.42			31.59			15		36.23			26.93			35
Close									38.03			32.42			17
Market capitalization									20,055			17,427			15
Average common shares outstanding
Diluted	533,230			538,850			(1	)	535,222			539,488			(1	)
Basic	527,402			533,829			(1	)	529,429			534,887			(1	)
Full-time equivalent employees									25,074			26,409			(5	)
Number of ATMs									2,192			2,846			(23	)
Full service banking offices									1,454			1,508			(4	)


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

Total revenue, net interest margin, and efficiency ratios are presented on a fully taxable-equivalent (“FTE”) basis. The FTE basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources. Total revenue - FTE equals net interest income on a FTE basis plus noninterest income.


³	Amounts for periods prior to the first quarter of 2014 have been recalculated as a result of the Company’s early adoption of ASU 2014-01, which required retrospective application.


⁴	Current period tier 1 common, tier 1 capital, total capital, and tier 1 leverage ratios are estimated as of the earnings release date.

⁵"NM" - Not meaningful. Calculated rate or changes over 100 percent were not considered to be meaningful.

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER FINANCIAL HIGHLIGHTS

(Dollars in millions and shares in thousands, except per share data) (Unaudited)



	Three Months Ended
	September 30			June 30			March 31			December 31			September 30
	2014			2014			2014			2013			2013
EARNINGS & DIVIDENDS
Net income		$576			$399			$405			$426			$189
Net income available to common shareholders	563			387			393			413			179
Net income available to common shareholders, excluding the impact of Form 8-K and other legacy mortgage-related items ¹	433			436			393			413			358
Total revenue - FTE ^{1, 2}	2,031			2,201			2,030			2,061			1,920
Total revenue - FTE excluding gain on sale of asset management subsidiary ^{1, 2}	2,031			2,096			2,030			2,061			1,920
Net income per average common share
Diluted	1.06			0.72			0.73			0.77			0.33
Diluted, excluding the impact of Form 8-K and other legacy mortgage-related items ¹	0.81			0.81			0.73			0.77			0.66
Basic	1.07			0.73			0.74			0.78			0.33
Dividends paid per common share	0.20			0.20			0.10			0.10			0.10
CONDENSED BALANCE SHEETS
Selected Average Balances
Total assets		$183,433			$179,820			$176,971			$173,791			$171,838
Earning assets	163,688			160,373			157,343			154,567			154,235
Loans	130,747			130,734			128,525			125,649			122,672
Intangible assets including MSRs	7,615			7,614			7,666			7,658			7,643
MSRs	1,262			1,220			1,265			1,253			1,232
Consumer and commercial deposits	132,195			130,472			128,396			127,460			126,618
Brokered time and foreign deposits	1,624			1,893			2,013			2,010			2,007
Total shareholders’ equity	22,191			21,994			21,727			21,251			21,027
Preferred stock	725			725			725			725			725
As of
Total assets	186,818			182,559			179,542			175,335			171,777
Earning assets	165,434			162,422			158,487			156,856			154,802
Loans	132,151			129,744			129,196			127,877			124,340
Allowance for loan and lease losses	1,968			2,003			2,040			2,044			2,071
Consumer and commercial deposits	135,077			131,792			130,933			127,735			126,861
Brokered time and foreign deposits	1,430			1,493			2,023			2,024			2,022
Total shareholders’ equity	22,269			22,131			21,817			21,422			21,070
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	1.25		%	0.89		%	0.93		%	0.97		%	0.44		%
Return on average common shareholders’ equity	10.41			7.29			7.59			7.99			3.49
Return on average tangible common shareholders' equity ¹	14.59			10.29			10.78			11.61			5.10
Net interest margin ²	3.03			3.11			3.19			3.20			3.19
Efficiency ratio ^{2, 3}	62.03			68.93			66.83			66.05			90.13
Tangible efficiency ratio ^{1, 2, 3}	61.69			68.77			66.65			65.84			89.82
Effective tax rate ^{3, 5}	10.37			30.23			23.61			24.50			NM
Tier 1 common ⁴	9.60			9.72			9.90			9.82			9.94
Tier 1 capital ⁴	10.50			10.66			10.88			10.81			10.97
Total capital ⁴	12.30			12.53			12.81			12.81			13.04
Tier 1 leverage ⁴	9.50			9.56			9.57			9.58			9.46
Total average shareholders’ equity to total average assets	12.10			12.23			12.28			12.23			12.24
Tangible equity to tangible assets ¹	8.94			9.07			9.01			9.00			8.98

Book value per common share		$40.85			$40.18			$39.44			$38.61			$37.85
Tangible book value per common share ¹	29.21			28.64			27.82			27.01			26.27
Market price:
High	40.86			40.84			41.26			36.99			36.29
Low	36.42			36.82			36.23			31.97			31.59
Close	38.03			40.06			39.79			36.81			32.42
Market capitalization	20,055			21,344			21,279			19,734			17,427
Average common shares outstanding
Diluted	533,230			535,486			536,992			537,921			538,850
Basic	527,402			529,764			531,162			532,492			533,829
Full-time equivalent employees	25,074			25,841			25,925			26,281			26,409
Number of ATMs	2,192			2,212			2,243			2,243			2,846
Full service banking offices	1,454			1,473			1,501			1,497			1,508


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


³	Amounts for periods prior to the first quarter of 2014 have been recalculated as a result of the Company’s early adoption of ASU 2014-01, which required retrospective application.


⁴	Current period tier 1 common, tier 1 capital, total capital, and tier 1 leverage ratios are estimated as of the earnings release date.


⁵	"NM" - Not meaningful. Calculated rate was not considered to be meaningful.

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in millions and shares in thousands, except per share data) (Unaudited)



	Three Months Ended						Increase/(Decrease)					Nine Months Ended					(Decrease)/Increase
	September 30						Increase/(Decrease)					September 30					(Decrease)/Increase
	2014			2013			Amount			% ³		2014			2013		Amount			% ³
Interest income		$1,353			$1,339			$14		1	%		$4,036			$4,045		($9	)	—	%
Interest expense	138			131			7			5		407			405		2			—
NET INTEREST INCOME	1,215			1,208			7			1		3,629			3,640		(11		)	—
Provision for credit losses	93			95			(2		)	(2	)	268			453		(185		)	(41	)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	1,122			1,113			9			1		3,361			3,187		174			5
NONINTEREST INCOME
Service charges on deposit accounts	169			168			1			1		483			492		(9		)	(2	)
Other charges and fees	95			91			4			4		274			277		(3		)	(1	)
Card fees	81			77			4			5		239			231		8			3
Trust and investment management income	93			133			(40		)	(30	)	339			387		(48		)	(12	)
Retail investment services	76			68			8			12		224			198		26			13
Investment banking income	88			99			(11		)	(11	)	296			260		36			14
Trading income	46			33			13			39		141			124		17			14
Mortgage production related income/(loss)	45			(10		)	55			NM		140			282		(142		)	(50	)
Mortgage servicing related income	44			11			33			NM		143			50		93			NM
Net securities (losses)/gains	(9		)	—			(9		)	NM		(11		)	2		(13		)	NM
Other noninterest income	52			10			42			NM		260			98		162			NM
Total noninterest income	780			680			100			15		2,528			2,401		127			5
NONINTEREST EXPENSE
Employee compensation and benefits	730			682			48			7		2,293			2,178		115			5
Outside processing and software	184			190			(6		)	(3	)	535			555		(20		)	(4	)
Net occupancy expense	84			86			(2		)	(2	)	254			261		(7		)	(3	)
Equipment expense	41			45			(4		)	(9	)	127			136		(9		)	(7	)
FDIC premium/regulatory exams	29			45			(16		)	(36	)	109			140		(31		)	(22	)
Marketing and customer development	35			34			1			3		91			95		(4		)	(4	)
Operating losses	29			350			(321		)	(92	)	268			461		(193		)	(42	)
Amortization	7			6			1			17		14			18		(4		)	(22	)
Other noninterest expense ¹	120			292			(172		)	(59	)	443			626		(183		)	(29	)
Total noninterest expense	1,259			1,730			(471		)	(27	)	4,134			4,470		(336		)	(8	)
INCOME BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES	643			63			580			NM		1,755			1,118		637			57
Provision/(benefit) for income taxes ¹	67			(133		)	200			NM		364			184		180			98
NET INCOME INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	576			196			380			NM		1,391			934		457			49
Net income attributable to noncontrolling interest	—			7			(7		)	(100	)	11			16		(5		)	(31	)
NET INCOME		$576			$189			$387		NM			$1,380			$918		$462		50	%
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS		$563			$179			$384		NM			$1,343			$884		$459		52	%
Net interest income - FTE ²	1,251			1,240			11			1		3,734			3,733		1			—
Net income per average common share
Diluted	1.06			0.33			0.73			NM		2.51			1.64		0.87			53
Basic	1.07			0.33			0.74			NM		2.54			1.65		0.89			54
Cash dividends paid per common share	0.20			0.10			0.10			100		0.50			0.25		0.25			100
Average common shares outstanding
Diluted	533,230			538,850			(5,620		)	(1	)	535,222			539,488		(4,266		)	(1	)
Basic	527,402			533,829			(6,427		)	(1	)	529,429			534,887		(5,458		)	(1	)

¹ Amortization expense related to qualified affordable housing investment costs is recognized in provision/(benefit) for income taxes for the three and nine months ended September 30, 2014 as allowed by a recently adopted accounting standard. Prior to the first quarter of 2014, these amounts were recognized in other noninterest expense and therefore, for comparative purposes, $13 million and $33 million of amortization expense have been reclassified to provision/(benefit) for income taxes for the three and nine months ended September 30, 2013, respectively.

²Net interest income includes the effects of FTE adjustments using a federal tax rate of 35% and state income taxes where applicable to increase tax-exempt interest income to a taxable-equivalent basis. See Appendix A for a reconcilement of this non-GAAP measure to the related GAAP measure.

³“NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER CONSOLIDATED STATEMENTS OF INCOME

(Dollars in millions and shares in thousands, except per share data) (Unaudited)



	Three Months Ended											Three Months Ended
	September 30			June 30			Increase/(Decrease)					March 31			December 31		September 30
	2014			2014			Amount			% ³		2014			2013		2013
Interest income		$1,353			$1,346			$7		1	%		$1,336			$1,343		$1,339
Interest expense	138			137			1			1		132			130		131
NET INTEREST INCOME	1,215			1,209			6			—		1,204			1,213		1,208
Provision for credit losses	93			73			20			27		102			101		95
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	1,122			1,136			(14		)	(1	)	1,102			1,112		1,113
NONINTEREST INCOME
Service charges on deposit accounts	169			160			9			6		155			165		168
Other charges and fees	95			91			4			4		88			92		91
Card fees	81			82			(1		)	(1	)	76			79		77
Trust and investment management income	93			116			(23		)	(20	)	130			131		133
Retail investment services	76			76			—			—		71			69		68
Investment banking income	88			119			(31		)	(26	)	88			96		99
Trading income	46			47			(1		)	(2	)	49			57		33
Mortgage production related income/(loss)	45			52			(7		)	(13	)	43			31		(10		)
Mortgage servicing related income	44			45			(1		)	(2	)	54			38		11
Net securities (losses)/gains	(9		)	(1		)	8			NM		(1		)	1		—
Other noninterest income	52			170			(118		)	(69	)	38			55		10
Total noninterest income	780			957			(177		)	(18	)	791			814		680
NONINTEREST EXPENSE
Employee compensation and benefits	730			763			(33		)	(4	)	800			723		682
Outside processing and software	184			181			3			2		170			191		190
Net occupancy expense	84			83			1			1		86			87		86
Equipment expense	41			42			(1		)	(2	)	44			45		45
FDIC premium/regulatory exams	29			40			(11		)	(28	)	40			41		45
Marketing and customer development	35			30			5			17		25			40		34
Operating losses	29			218			(189		)	(87	)	21			42		350
Amortization	7			4			3			75		3			5		6
Other noninterest expense ¹	120			156			(36		)	(23	)	168			187		292
Total noninterest expense	1,259			1,517			(258		)	(17	)	1,357			1,361		1,730
INCOME BEFORE PROVISION/(BENEFIT) FOR INCOME TAXES	643			576			67			12		536			565		63
Provision/(benefit) for income taxes ¹	67			173			(106		)	(61	)	125			138		(133		)
NET INCOME INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	576			403			173			43		411			427		196
Net income attributable to noncontrolling interest	—			4			(4		)	(100	)	6			1		7
NET INCOME		$576			$399			$177		44	%		$405			$426		$189
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS		$563			$387			$176		45	%		$393			$413		$179
Net interest income - FTE ²	1,251			1,244			7			1		1,239			1,247		1,240
Net income per average common share
Diluted	1.06			0.72			0.34			47		0.73			0.77		0.33
Basic	1.07			0.73			0.34			47		0.74			0.78		0.33
Cash dividends paid per common share	0.20			0.20			—			—		0.10			0.10		0.10
Average common shares outstanding
Diluted	533,230			535,486			(2,256		)	—		536,992			537,921		538,850
Basic	527,402			529,764			(2,362		)	—		531,162			532,492		533,829

¹ Amortization expense related to qualified affordable housing investment costs is recognized in provision/(benefit) for income taxes for the three months ended September 30, 2014, June 30, 2014, and March 31, 2014, as allowed by a recently adopted accounting standard. Prior to the first quarter of 2014, these amounts were recognized in other noninterest expense and therefore, for comparative purposes, $16 million and $13 million of amortization expense have been reclassified to provision/(benefit) for income taxes for the three months ended December 31, 2013 and September 30, 2013, respectively.

² Net interest income includes the effects of FTE adjustments using a federal tax rate of 35% and state income taxes where applicable to increase tax-exempt interest income to a taxable-equivalent basis. See Appendix A for a reconcilement of this non-GAAP measure to the related GAAP measure.

³“NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(Dollars in millions and shares in thousands, except per share data) (Unaudited)



	September 30						Increase/(Decrease)
	2014			2013			Amount			% ²
ASSETS
Cash and due from banks		$7,178			$3,041			$4,137		NM
Federal funds sold and securities borrowed or purchased under agreements to resell	1,125			1,222			(97		)	(8	)%
Interest-bearing deposits in other banks	22			23			(1		)	(4	)
Trading assets and derivatives	5,782			5,794			(12		)	—
Securities available for sale	26,162			22,626			3,536			16
Loans held for sale	1,739			2,462			(723		)	(29	)
Loans held for investment:
Commercial and industrial	63,140			55,943			7,197			13
Commercial real estate	6,704			4,755			1,949			41
Commercial construction	1,250			737			513			70
Residential mortgages - guaranteed	651			3,527			(2,876		)	(82	)
Residential mortgages - nonguaranteed	23,718			24,106			(388		)	(2	)
Residential home equity products	14,389			14,826			(437		)	(3	)
Residential construction	464			582			(118		)	(20	)
Consumer student loans - guaranteed	5,314			5,489			(175		)	(3	)
Consumer other direct	4,110			2,670			1,440			54
Consumer indirect	11,594			11,035			559			5
Consumer credit cards	817			670			147			22
Total loans held for investment	132,151			124,340			7,811			6
Allowance for loan and lease losses	(1,968		)	(2,071		)	(103		)	(5	)
Net loans held for investment	130,183			122,269			7,914			6
Goodwill	6,337			6,369			(32		)	(1	)
Other intangible assets	1,320			1,287			33			3
Other real estate owned	112			196			(84		)	(43	)
Other assets	6,858			6,488			370			6
Total assets ¹		$186,818			$171,777			$15,041		9	%
LIABILITIES
Deposits:
Noninterest-bearing consumer and commercial deposits		$42,542			$39,006			$3,536		9	%
Interest-bearing consumer and commercial deposits:
NOW accounts	28,414			25,495			2,919			11
Money market accounts	46,892			43,106			3,786			9
Savings	6,046			5,778			268			5
Consumer time	7,068			8,742			(1,674		)	(19	)
Other time	4,115			4,734			(619		)	(13	)
Total consumer and commercial deposits	135,077			126,861			8,216			6
Brokered time deposits	1,180			2,022			(842		)	(42	)
Foreign deposits	250			—			250			NM
Total deposits	136,507			128,883			7,624			6
Funds purchased	1,000			934			66			7
Securities sold under agreements to repurchase	2,089			1,574			515			33
Other short-term borrowings	7,283			4,479			2,804			63
Long-term debt	12,942			9,985			2,957			30
Trading liabilities and derivatives	1,231			1,346			(115		)	(9	)
Other liabilities	3,497			3,506			(9		)	—
Total liabilities	164,549			150,707			13,842			9
SHAREHOLDERS' EQUITY
Preferred stock, no par value	725			725			—			—
Common stock, $1.00 par value	550			550			—			—
Additional paid in capital	9,090			9,117			(27		)	—
Retained earnings	13,020			11,573			1,447			13
Treasury stock, at cost, and other	(939		)	(579		)	360			62
Accumulated other comprehensive loss	(177		)	(316		)	(139		)	(44	)
Total shareholders' equity	22,269			21,070			1,199			6
Total liabilities and shareholders' equity		$186,818			$171,777			$15,041		9	%

Common shares outstanding	527,358			537,549			(10,191		)	(2	)%
Common shares authorized	750,000			750,000			—			—
Preferred shares outstanding	7			7			—			—
Preferred shares authorized	50,000			50,000			—			—
Treasury shares of common stock	22,563			12,372			10,191			82

¹ Includes earning assets of $165,434 and $154,802 at September 30, 2014 and 2013, respectively.

² “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER CONSOLIDATED BALANCE SHEETS

(Dollars in millions and shares in thousands, except per share data) (Unaudited)



	September 30			June 30			Increase/(Decrease)					March 31			December 31			September 30
	2014			2014			Amount			% ²		2014			2013			2013
ASSETS
Cash and due from banks		$7,178			$5,681			$1,497		26	%		$6,978			$4,258			$3,041
Federal funds sold and securities borrowed or purchased under agreements to resell	1,125			1,156			(31		)	(3	)	907			983			1,222
Interest-bearing deposits in other banks	22			22			—			—		22			22			23
Trading assets and derivatives	5,782			5,141			641			12		4,848			5,040			5,794
Securities available for sale	26,162			24,015			2,147			9		23,302			22,542			22,626
Loans held for sale	1,739			4,046			(2,307		)	(57	)	1,488			1,699			2,462
Loans held for investment:
Commercial and industrial	63,140			61,337			1,803			3		58,828			57,974			55,943
Commercial real estate	6,704			6,105			599			10		5,961			5,481			4,755
Commercial construction	1,250			1,096			154			14		920			855			737
Residential mortgages - guaranteed	651			661			(10		)	(2	)	3,295			3,416			3,527
Residential mortgages - nonguaranteed	23,718			24,173			(455		)	(2	)	24,331			24,412			24,106
Residential home equity products	14,389			14,519			(130		)	(1	)	14,637			14,809			14,826
Residential construction	464			508			(44		)	(9	)	532			553			582
Consumer student loans - guaranteed	5,314			5,420			(106		)	(2	)	5,533			5,545			5,489
Consumer other direct	4,110			3,675			435			12		3,109			2,829			2,670
Consumer indirect	11,594			11,501			93			1		11,339			11,272			11,035
Consumer credit cards	817			749			68			9		711			731			670
Total loans held for investment	132,151			129,744			2,407			2		129,196			127,877			124,340
Allowance for loan and lease losses	(1,968		)	(2,003		)	(35		)	(2	)	(2,040		)	(2,044		)	(2,071		)
Net loans held for investment	130,183			127,741			2,442			2		127,156			125,833			122,269
Goodwill	6,337			6,337			—			—		6,377			6,369			6,369
Other intangible assets	1,320			1,277			43			3		1,282			1,334			1,287
Other real estate owned	112			136			(24		)	(18	)	151			170			196
Other assets	6,858			7,007			(149		)	(2	)	7,031			7,085			6,488
Total assets ¹		$186,818			$182,559			$4,259		2	%		$179,542			$175,335			$171,777
LIABILITIES
Deposits:
Noninterest-bearing consumer and commercial deposits		$42,542			$40,891			$1,651		4	%		$39,792			$38,800			$39,006
Interest-bearing consumer and commercial deposits:
NOW accounts	28,414			29,243			(829		)	(3	)	29,151			28,164			25,495
Money market accounts	46,892			43,942			2,950			7		43,196			41,873			43,106
Savings	6,046			6,133			(87		)	(1	)	6,217			5,842			5,778
Consumer time	7,068			7,334			(266		)	(4	)	8,102			8,475			8,742
Other time	4,115			4,249			(134		)	(3	)	4,475			4,581			4,734
Total consumer and commercial deposits	135,077			131,792			3,285			2		130,933			127,735			126,861
Brokered time deposits	1,180			1,483			(303		)	(20	)	2,023			2,024			2,022
Foreign deposits	250			10			240			NM		—			—			—
Total deposits	136,507			133,285			3,222			2		132,956			129,759			128,883
Funds purchased	1,000			1,053			(53		)	(5	)	1,269			1,192			934
Securities sold under agreements to repurchase	2,089			2,192			(103		)	(5	)	2,133			1,759			1,574
Other short-term borrowings	7,283			5,870			1,413			24		5,277			5,788			4,479
Long-term debt	12,942			13,155			(213		)	(2	)	11,565			10,700			9,985
Trading liabilities and derivatives	1,231			1,190			41			3		1,041			1,181			1,346
Other liabilities	3,497			3,683			(186		)	(5	)	3,484			3,534			3,506
Total liabilities	164,549			160,428			4,121			3		157,725			153,913			150,707
SHAREHOLDERS’ EQUITY
Preferred stock, no par value	725			725			—			—		725			725			725
Common stock, $1.00 par value	550			550			—			—		550			550			550
Additional paid in capital	9,090			9,085			5			—		9,107			9,115			9,117
Retained earnings	13,020			12,560			460			4		12,278			11,936			11,573
Treasury stock, at cost, and other	(939		)	(730		)	209			29		(643		)	(615		)	(579		)
Accumulated other comprehensive loss	(177		)	(59		)	118			NM		(200		)	(289		)	(316		)
Total shareholders’ equity	22,269			22,131			138			1		21,817			21,422			21,070
Total liabilities and shareholders’ equity		$186,818			$182,559			$4,259		2	%		$179,542			$175,335			$171,777

Common shares outstanding	527,358			532,800			(5,442		)	(1	)%	534,780			536,097			537,549
Common shares authorized	750,000			750,000			—			—		750,000			750,000			750,000
Preferred shares outstanding	7			7			—			—		7			7			7
Preferred shares authorized	50,000			50,000			—			—		50,000			50,000			50,000
Treasury shares of common stock	22,563			17,121			5,442			32		15,141			13,824			12,372

¹Includes earning assets of $165,434, $162,422, $158,487, $156,856, and $154,802 at September 30, 2014, June 30, 2014, March 31, 2014, December 31, 2013, and September 30, 2013, respectively.

² “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.



SunTrust Banks, Inc. and Subsidiaries CONSOLIDATED DAILY AVERAGE BALANCES, AVERAGE YIELDS EARNED AND RATES PAID (Dollars in millions; yields on taxable-equivalent basis) (Unaudited)
	Three Months Ended														Increase/(Decrease) From
	September 30, 2014							June 30, 2014							Sequential Quarter					Prior Year Quarter
	Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Yields/ Rates		Average Balances			Yields/ Rates
ASSETS
Loans:
Commercial and industrial - FTE ¹		$61,700			$548	3.53	%		$60,141			$545	3.63	%		$1,559		(0.10	)		$7,034		(0.35	)
Commercial real estate	6,386			46		2.86		6,052			44		2.92		334			(0.06	)	1,771			(0.32	)
Commercial construction	1,162			9		3.21		1,006			9		3.41		156			(0.20	)	458			(0.17	)
Residential mortgages - guaranteed	635			6		3.64		2,994			27		3.62		(2,359		)	0.02		(2,891		)	0.50
Residential mortgages - nonguaranteed	23,722			236		3.99		23,849			237		3.98		(127		)	0.01		464			(0.10	)
Home equity products	14,260			129		3.58		14,394			128		3.58		(134		)	—		(289		)	(0.05	)
Residential construction	445			6		5.27		474			5		4.34		(29		)	0.93		(84		)	0.39
Guaranteed student loans	5,360			49		3.66		5,463			50		3.64		(103		)	0.02		(93		)	(0.15	)
Other direct	3,876			41		4.20		3,342			35		4.23		534			(0.03	)	1,313			(0.13	)
Indirect	11,556			92		3.15		11,388			91		3.19		168			(0.04	)	487			(0.21	)
Credit cards	788			19		9.74		732			18		9.63		56			0.11		132			0.01
Nonaccrual	857			5		2.16		899			6		2.81		(42		)	(0.65	)	(227		)	(0.21	)
Total loans	130,747			1,186		3.60		130,734			1,195		3.67		13			(0.07	)	8,075			(0.21	)
Securities available for sale:
Taxable	24,195			151		2.49		22,799			147		2.58		1,396			(0.09	)	1,701			—
Tax-exempt - FTE¹	235			3		5.24		263			3		5.26		(28		)	(0.02	)	(8		)	0.08
Total securities available for sale	24,430			154		2.52		23,062			150		2.61		1,368			(0.09	)	1,693			—
Federal funds sold and securities borrowed or purchased under agreements to resell	1,036			—		—		1,047			—		—		(11		)	—		7			(0.01	)
Loans held for sale	3,367			30		3.53		1,678			17		4.03		1,689			(0.50	)	23			(0.05	)
Interest-bearing deposits	53			—		0.05		25			—		0.16		28			(0.11	)	31			(0.06	)
Interest earning trading assets	4,055			19		1.85		3,827			19		1.98		228			(0.13	)	(376		)	0.21
Total earning assets	163,688			1,389		3.37		160,373			1,381		3.45		3,315			(0.08	)	9,453			(0.16	)
Allowance for loan and lease losses	(1,988		)					(2,023		)					35					124
Cash and due from banks	5,573							5,412							161					1,706
Other assets	14,613							14,675							(62		)			342
Noninterest earning trading assets and derivatives	1,215							1,155							60					(314		)
Unrealized gains on securities available for sale, net	332							228							104					284
Total assets		$183,433							$179,820							$3,613					$11,595
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$28,224			$5	0.07	%		$29,198			$6	0.08	%		($974	)	(0.01	)		$2,789		0.01
Money market accounts	45,562			17		0.15		42,963			15		0.14		2,599			0.01		2,543			0.03
Savings	6,098			1		0.03		6,182			1		0.04		(84		)	(0.01	)	296			(0.01	)
Consumer time	7,186			14		0.75		7,701			17		0.89		(515		)	(0.14	)	(1,709		)	(0.37	)
Other time	4,182			10		0.99		4,398			12		1.07		(216		)	(0.08	)	(648		)	(0.27	)
Total interest-bearing consumer and commercial deposits	91,252			47		0.20		90,442			51		0.22		810			(0.02	)	3,271			(0.06	)
Brokered time deposits	1,392			7		1.91		1,890			10		2.19		(498		)	(0.28	)	(597		)	(0.53	)
Foreign deposits	232			—		0.11		3			—		—		229			0.11		214			—
Total interest-bearing deposits	92,876			54		0.23		92,335			61		0.27		541			(0.04	)	2,888			(0.08	)
Funds purchased	937			—		0.10		825			—		0.09		112			0.01		432			0.01
Securities sold under agreements to repurchase	2,177			1		0.13		2,148			1		0.12		29			0.01		292			—
Interest-bearing trading liabilities	778			5		2.72		783			6		2.83		(5		)	(0.11	)	58			0.14
Other short-term borrowings	6,559			4		0.23		5,796			3		0.23		763			—		1,337			(0.04	)
Long-term debt	13,064			74		2.24		12,014			66		2.21		1,050			0.03		3,173			0.18
Total interest-bearing liabilities	116,391			138		0.47		113,901			137		0.48		2,490			(0.01	)	8,180			(0.01	)
Noninterest-bearing deposits	40,943							40,030							913					2,306
Other liabilities	3,620							3,599							21					192
Noninterest-bearing trading liabilities and derivatives	288							296							(8		)			(247		)
Shareholders’ equity	22,191							21,994							197					1,164
Total liabilities and shareholders’ equity		$183,433							$179,820							$3,613					$11,595
Interest Rate Spread						2.90	%						2.97	%				(0.07	)				(0.15	)
Net Interest Income - FTE¹					$1,251							$1,244
Net Interest Margin ²						3.03	%						3.11	%				(0.08	)				(0.16	)

¹The fully taxable-equivalent (“FTE”) basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

² The net interest margin is calculated by dividing annualized net interest income - FTE by average total earning assets.



SunTrust Banks, Inc. and Subsidiaries CONSOLIDATED DAILY AVERAGE BALANCES, AVERAGE YIELDS EARNED AND RATES PAID, continued (Dollars in millions; yields on taxable-equivalent basis) (Unaudited)
	Three Months Ended
	March 31, 2014							December 31, 2013							September 30, 2013
	Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates
ASSETS
Loans:
Commercial and industrial - FTE¹		$58,287			$538	3.74	%		$56,208			$545	3.85	%		$54,666			$535	3.88	%
Commercial real estate	5,616			41		2.93		5,071			39		3.07		4,615			37		3.18
Commercial construction	894			7		3.31		809			7		3.29		704			6		3.38
Residential mortgages - guaranteed	3,351			30		3.62		3,470			24		2.81		3,526			28		3.14
Residential mortgages -nonguaranteed	23,933			242		4.05		23,892			241		4.04		23,258			238		4.09
Home equity products	14,516			129		3.59		14,623			133		3.60		14,549			133		3.63
Residential construction	485			5		4.40		494			6		4.69		529			7		4.88
Guaranteed student loans	5,523			50		3.70		5,512			52		3.76		5,453			52		3.81
Other direct	2,959			31		4.25		2,740			30		4.31		2,563			28		4.33
Indirect	11,299			91		3.25		11,149			93		3.32		11,069			94		3.36
Credit cards	716			17		9.56		693			17		9.60		656			16		9.73
Nonaccrual	946			5		1.98		988			6		2.30		1,084			6		2.37
Total loans	128,525			1,186		3.74		125,649			1,193		3.77		122,672			1,180		3.81
Securities available for sale:
Taxable	22,422			150		2.68		21,995			147		2.67		22,494			140		2.49
Tax-exempt - FTE ¹	264			3		5.25		233			3		5.12		243			3		5.16
Total securities available for sale	22,686			153		2.71		22,228			150		2.70		22,737			143		2.52
Federal funds sold and securities borrowed or purchased under agreements to resell	978			—		—		871			—		0.02		1,029			—		0.01
Loans held for sale	1,450			15		4.05		1,767			17		3.80		3,344			30		3.58
Interest-bearing deposits	22			—		0.13		19			—		0.06		22			—		0.11
Interest earning trading assets	3,682			17		1.87		4,033			17		1.66		4,431			18		1.64
Total earning assets	157,343			1,371		3.53		154,567			1,377		3.53		154,235			1,371		3.53
Allowance for loan and lease losses	(2,037		)					(2,051		)					(2,112		)
Cash and due from banks	5,436							5,335							3,867
Other assets	14,827							14,321							14,271
Noninterest earning trading assets and derivatives	1,299							1,482							1,529
Unrealized gains on securities available for sale, net	103							137							48
Total assets		$176,971							$173,791							$171,838
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$27,707			$5	0.07	%		$26,504			$4	0.06	%		$25,435			$4	0.06	%
Money market accounts	42,755			13		0.12		42,756			13		0.12		43,019			13		0.12
Savings	6,035			—		0.04		5,816			—		0.04		5,802			1		0.04
Consumer time	8,318			22		1.08		8,605			24		1.09		8,895			25		1.12
Other time	4,533			13		1.19		4,645			14		1.19		4,830			15		1.26
Total interest-bearing consumer and commercial deposits	89,348			53		0.24		88,326			55		0.25		87,981			58		0.26
Brokered time deposits	2,012			12		2.31		2,008			12		2.37		1,989			12		2.44
Foreign deposits	1			—		0.60		2			—		—		18			—		0.11
Total interest-bearing deposits	91,361			65		0.29		90,336			67		0.30		89,988			70		0.31
Funds purchased	989			—		0.08		681			—		0.09		505			—		0.09
Securities sold under agreements to repurchase	2,202			1		0.10		1,957			1		0.11		1,885			1		0.13
Interest-bearing trading liabilities	699			5		2.74		627			4		2.75		720			5		2.58
Other short-term borrowings	5,588			3		0.24		5,424			4		0.27		5,222			3		0.27
Long-term debt	11,367			58		2.05		10,525			54		2.04		9,891			52		2.06
Total interest-bearing liabilities	112,206			132		0.48		109,550			130		0.47		108,211			131		0.48
Noninterest-bearing deposits	39,048							39,134							38,637
Other liabilities	3,524							3,336							3,428
Noninterest-bearing trading liabilities and derivatives	466							520							535
Shareholders’ equity	21,727							21,251							21,027
Total liabilities and shareholders’ equity		$176,971							$173,791							$171,838
Interest Rate Spread						3.05	%						3.06	%						3.05	%
Net Interest Income - FTE ¹					$1,239							$1,247							$1,240
Net Interest Margin ²						3.19	%						3.20	%						3.19	%


¹	The fully taxable-equivalent (“FTE”) basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.


²	The net interest margin is calculated by dividing annualized net interest income - FTE by average total earning assets.



SunTrust Banks, Inc. and Subsidiaries CONSOLIDATED DAILY AVERAGE BALANCES, AVERAGE YIELDS EARNED AND RATES PAID, continued (Dollars in millions; yields on taxable-equivalent basis) (Unaudited)
	Nine Months Ended
	September 30, 2014							September 30, 2013							Increase/(Decrease)
	Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates			Average Balances			Yields/ Rates
ASSETS
Loans:
Commercial and industrial - FTE ¹		$60,055			$1,630	3.63	%		$54,310			$1,635	4.03	%			$5,745		(0.40	)
Commercial real estate	6,021			131		2.90		4,325			107		3.31			1,696			(0.41	)
Commercial construction	1,022			25		3.31		665			18		3.53			357			(0.22	)
Residential mortgages - guaranteed	2,316			63		3.63		3,789			81		2.86			(1,473		)	0.77
Residential mortgages - nonguaranteed	23,834			717		4.01		22,708			717		4.21			1,126			(0.20	)
Home equity products	14,389			386		3.58		14,424			393		3.64			(35		)	(0.06	)
Residential construction	468			16		4.66		567			21		4.97			(99		)	(0.31	)
Guaranteed student loans	5,448			149		3.67		5,397			155		3.84			51			(0.17	)
Other direct	3,396			107		4.22		2,466			81		4.39			930			(0.17	)
Indirect	11,415			273		3.19		11,046			284		3.43			369			(0.24	)
Credit cards	746			54		9.64		630			46		9.69			116			(0.05	)
Nonaccrual	900			16		2.31		1,322			27		2.71			(422		)	(0.40	)
Total loans	130,010			3,567		3.67		121,649			3,565		3.92			8,361			(0.25	)
Securities available for sale:
Taxable	23,145			448		2.58		22,514			421		2.49			631			0.09
Tax-exempt - FTE¹	254			10		5.26		266			10		5.19			(12		)	0.07
Total securities available for sale	23,399			458		2.61		22,780			431		2.53			619			0.08
Federal funds sold and securities borrowed or purchased under agreements to resell	1,021			—		—		1,075			—		0.02			(54		)	(0.02	)
Loans held for sale	2,172			61		3.77		3,544			90		3.37			(1,372		)	0.40
Interest-bearing deposits	33			—		0.10		22			—		0.10			11			—
Interest earning trading assets	3,856			55		1.90		4,342			52		1.59			(486		)	0.31
Total earning assets	160,491			4,141		3.45		153,412			4,138		3.61			7,079			(0.16	)
Allowance for loan and lease losses	(2,016		)					(2,144		)						128
Cash and due from banks	5,474							4,258								1,216
Other assets	14,706							14,361								345
Noninterest earning trading assets and derivatives	1,221							1,667								(446		)
Unrealized gains on securities available for sale, net	222							507								(285		)
Total assets		$180,098							$172,061								$8,037
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$28,378			$16	0.07	%		$25,941			$13	0.07	%			$2,437		—
Money market accounts	43,771			45		0.14		42,621			42		0.13			1,150			0.01
Savings	6,105			2		0.04		5,713			2		0.05			392			(0.01	)
Consumer time	7,731			53		0.92		9,158			78		1.14			(1,427		)	(0.22	)
Other time	4,370			35		1.08		5,036			50		1.32			(666		)	(0.24	)
Total interest-bearing consumer and commercial deposits	90,355			151		0.22		88,469			185		0.28			1,886			(0.06	)
Brokered time deposits	1,762			29		2.16		2,037			39		2.53			(275		)	(0.37	)
Foreign deposits	79			—		0.11		46			—		0.14			33			(0.03	)
Total interest-bearing deposits	92,196			180		0.26		90,552			224		0.33			1,644			(0.07	)
Funds purchased	917			—		0.09		625			1		0.10			292			(0.01	)
Securities sold under agreements to repurchase	2,176			2		0.12		1,824			2		0.15			352			(0.03	)
Interest-bearing trading liabilities	753			16		2.76		731			13		2.36			22			0.40
Other short-term borrowings	5,984			11		0.24		4,794			9		0.26			1,190			(0.02	)
Long-term debt	12,155			198		2.17		9,652			156		2.15			2,503			0.02
Total interest-bearing liabilities	114,181			407		0.48		108,178			405		0.50			6,003			(0.02	)
Noninterest-bearing deposits	40,014							38,478								1,536
Other liabilities	3,584							3,743								(159		)
Noninterest-bearing trading liabilities and derivatives	347							524								(177		)
Shareholders’ equity	21,972							21,138								834
Total liabilities and shareholders’ equity		$180,098							$172,061								$8,037
Interest Rate Spread						2.97	%						3.11	%					(0.14	)
Net Interest Income - FTE¹					$3,734							$3,733
Net Interest Margin ²						3.11	%						3.25	%					(0.14	)

²The net interest margin is calculated by dividing annualized net interest income - FTE by average total earning assets.



SunTrust Banks, Inc. and Subsidiaries OTHER FINANCIAL DATA (Dollars in millions) (Unaudited)
	Three Months Ended											Nine Months Ended
	September 30						(Decrease)/Increase					September 30						(Decrease)/Increase
	2014			2013			Amount			% ⁴		2014			2013			Amount			% ⁴
CREDIT DATA
Allowance for credit losses - beginning		$2,046			$2,172			($126	)	(6	)%		$2,094			$2,219			($125	)	(6	)%
Provision/(benefit) for unfunded commitments	—			3			(3		)	(100	)	(7		)	5			(12		)	NM
Provision/(benefit) for loan losses:
Commercial	25			77			(52		)	(68	)	82			183			(101		)	(55	)
Residential	34			(6		)	40			NM		114			184			(70		)	(38	)
Consumer	34			21			13			62		79			81			(2		)	(2	)
Total provision for loan losses	93			92			1			1		275			448			(173		)	(39	)
Charge-offs:
Commercial	(26		)	(52		)	(26		)	(50	)	(97		)	(176		)	(79		)	(45	)
Residential	(104		)	(109		)	(5		)	(5	)	(279		)	(430		)	(151		)	(35	)
Consumer	(34		)	(28		)	6			21		(97		)	(89		)	8			9
Total charge-offs	(164		)	(189		)	(25		)	(13	)	(473		)	(695		)	(222		)	(32	)
Recoveries:
Commercial	14			13			1			8		40			48			(8		)	(17	)
Residential	12			21			(9		)	(43	)	52			67			(15		)	(22	)
Consumer	10			9			1			11		30			29			1			3
Total recoveries	36			43			(7		)	(16	)	122			144			(22		)	(15	)
Net charge-offs	(128		)	(146		)	(18		)	(12	)	(351		)	(551		)	(200		)	(36	)
Allowance for credit losses - ending		$2,011			$2,121			($110	)	(5	)%		$2,011			$2,121			($110	)	(5	)%
Components:
Allowance for loan and lease losses													$1,968			$2,071			($103	)	(5	)%
Unfunded commitments reserve												43			50			(7		)	(14	)
Allowance for credit losses													$2,011			$2,121			($110	)	(5	)%
Net charge-offs to average loans (annualized):
Commercial	0.07		%	0.26		%	(0.19		)	(73	)%	0.11		%	0.29		%	(0.18		)	(62	)%
Residential	0.91			0.82			0.09			11		0.73			1.14			(0.41		)	(36	)
Consumer	0.45			0.39			0.06			15		0.43			0.41			0.02			5
Total net charge-offs to total average loans	0.39			0.47			(0.08		)	(17	)	0.36			0.61			(0.25		)	(41	)
Period Ended
Nonaccrual/nonperforming loans:
Commercial													$219			$275			($56	)	(20	)%
Residential												535			752			(217		)	(29	)
Consumer												8			10			(2		)	(20	)
Total nonaccrual/nonperforming loans												762			1,037			(275		)	(27	)
Other real estate owned (“OREO”)												112			196			(84		)	(43	)
Other repossessed assets												7			9			(2		)	(22	)
Nonperforming loans held for sale ("LHFS")												53			59			(6		)	(10	)
Total nonperforming assets													$934			$1,301			($367	)	(28	)%
Accruing restructured loans													$2,596			$2,744			($148	)	(5	)%
Nonaccruing restructured loans												316			406			(90		)	(22	)
Accruing loans past due > 90 days (guaranteed)												1,031			1,108			(77		)	(7	)
Accruing loans past due > 90 days (non-guaranteed)												35			55			(20		)	(36	)
Nonperforming loans to total loans												0.58		%	0.83		%	(0.25		)	(30	)%
Nonperforming assets to total loans plus OREO, other repossessed assets, and nonperforming LHFS												0.71			1.04			(0.33		)	(32	)
Allowance to period-end loans ^1,2												1.49			1.67			(0.18		)	(11	)
Allowance to period-end loans, excluding government guaranteed loans ^1,2,3												1.56			1.80			(0.24		)	(13	)
Allowance to nonperforming loans ^1,2												260			201			59			29
Allowance to annualized net charge-offs ¹												3.88x			3.58x			0.30x			8

¹This ratio is computed using the allowance for loan and lease losses.

²Loans carried at fair value were excluded from the calculation.

³ See Appendix A for reconciliation of non-GAAP performance measures.

⁴"NM" - Not meaningful. Those changes over 100 percent were not considered to be meaningful.



SunTrust Banks, Inc. and Subsidiaries FIVE QUARTER OTHER FINANCIAL DATA (Dollars in millions) (Unaudited)
	Three Months Ended											Three Months Ended
	September 30			June 30			(Decrease)/Increase					March 31			December 31			September 30
	2014			2014			Amount			% ⁴		2014			2013			2013
CREDIT DATA
Allowance for credit losses - beginning		$2,046			$2,086			($40	)	(2	)%		$2,094			$2,121			$2,172
(Benefit)/provision for unfunded commitments	—			(3		)	3			100		(4		)	—			3
Provision/(benefit) for loan losses:
Commercial	25			18			7			39		39			14			77
Residential	34			32			2			6		48			60			(6		)
Consumer	34			26			8			31		19			27			21
Total provision for loan losses	93			76			17			22		106			101			92
Charge-offs:
Commercial	(26		)	(38		)	(12		)	(32	)	(33		)	(43		)	(52		)
Residential	(104		)	(90		)	14			16		(85		)	(102		)	(109		)
Consumer	(34		)	(30		)	4			13		(33		)	(30		)	(28		)
Total charge-offs	(164		)	(158		)	6			4		(151		)	(175		)	(189		)
Recoveries:
Commercial	14			12			2			17		14			18			13
Residential	12			23			(11		)	(48	)	17			20			21
Consumer	10			10			—			—		10			9			9
Total recoveries	36			45			(9		)	(20	)	41			47			43
Net charge-offs	(128		)	(113		)	15			13		(110		)	(128		)	(146		)
Allowance for credit losses - ending		$2,011			$2,046			($35	)	(2	)%		$2,086			$2,094			$2,121
Components:
Allowance for loan and lease losses		$1,968			$2,003			($35	)	(2	)%		$2,040			$2,044			$2,071
Unfunded commitments reserve	43			43			—			—		46			50			50
Allowance for credit losses		$2,011			$2,046			($35	)	(2	)%		$2,086			$2,094			$2,121
Net charge-offs to average loans (annualized):
Commercial	0.07		%	0.15		%	(0.08		)	(53	)%	0.12		%	0.16		%	0.26		%
Residential	0.91			0.64			0.27			42		0.64			0.75			0.82
Consumer	0.45			0.38			0.07			18		0.47			0.42			0.39
Total net charge-offs to total average loans	0.39			0.35			0.04			11		0.35			0.40			0.47
Period Ended
Nonaccrual/nonperforming loans:
Commercial		$219			$247			($28	)	(11	)%		$229			$247			$275
Residential	535			642			(107		)	(17	)	684			712			752
Consumer	8			10			(2		)	(20	)	12			12			10
Total nonaccrual/nonperforming loans	762			899			(137		)	(15	)	925			971			1,037
OREO	112			136			(24		)	(18	)	151			170			196
Other repossessed assets	7			6			1			17		7			7			9
Nonperforming LHFS	53			—			53			NM		12			17			59
Total nonperforming assets		$934			$1,041			($107	)	(10	)%		$1,095			$1,165			$1,301
Accruing restructured loans		$2,596			$2,617			($21	)	(1	)%		$2,783			$2,749			$2,744
Nonaccruing restructured loans	316			365			(49		)	(13	)	358			391			406
Accruing loans past due > 90 days (guaranteed)	1,031			1,011			20			2		1,095			1,180			1,108
Accruing loans past due > 90 days (non-guaranteed)	35			34			1			3		42			48			55
Accruing LHFS past due > 90 days	—			1			(1		)	(100	)	1			—			—
Nonperforming loans to total loans	0.58		%	0.69		%	(0.11		)	(16	)%	0.72		%	0.76		%	0.83		%
Nonperforming assets to total loans plus OREO, other repossessed assets, and nonperforming LHFS	0.71			0.80			(0.09		)	(11	)	0.85			0.91			1.04
Allowance to period-end loans ^1,2	1.49			1.55			(0.06		)	(4	)	1.58			1.60			1.67
Allowance to period-end loans, excluding government guaranteed loans ^1,2,3	1.56			1.62			(0.06		)	(4	)	1.70			1.72			1.80
Allowance to nonperforming loans ^1,2	260			225			35			16		223			212			201
Allowance to annualized net charge-offs ¹	3.88x			4.41x			(0.53x)			(12	)	4.56x			4.03x			3.58x

¹This ratio is computed using the allowance for loan and lease losses.

²Loans carried at fair value were excluded from the calculation.

³ See Appendix A for reconciliation of non-GAAP performance measures.

⁴"NM" - Not meaningful. Those changes over 100 percent were not considered to be meaningful.



SunTrust Banks, Inc. and Subsidiaries OTHER FINANCIAL DATA, continued (Dollars in millions and shares in thousands) (Unaudited)
	Three Months Ended September 30												Nine Months Ended September 30
	Core Deposit Intangibles			MSRs - Fair Value			Other			Total			Core Deposit Intangibles			MSRs - Fair Value			Other			Total
OTHER INTANGIBLE ASSET ROLLFORWARD
Balance, beginning of period		$10			$1,199			$35			$1,244			$17			$899			$40			$956
Amortization	(3		)	—			(3		)	(6		)	(10		)	—			(8		)	(18		)
Mortgage servicing rights (“MSRs”) originated	—			99			—			99			—			302			—			302
Fair value changes due to inputs and assumptions ¹	—			10			—			10			—			260			—			260
Other changes in fair value ²	—			(60		)	—			(60		)	—			(212		)	—			(212		)
Sale of MSRs	—			—			—			—			—			(1		)	—			(1		)
Balance, September 30, 2013		$7			$1,248			$32			$1,287			$7			$1,248			$32			$1,287

Balance, beginning of period		$1			$1,259			$17			$1,277			$4			$1,300			$30			$1,334
Amortization	(1		)	—			(2		)	(3		)	(4		)	—			(6		)	(10		)
MSRs originated	—			68			—			68			—			137			—			137
MSRs purchased	—			33			—			33			—			109			—			109
Fair value changes due to inputs and assumptions ¹	—			(9		)	—			(9		)	—			(117		)	—			(117		)
Other changes in fair value ²	—			(45		)	—			(45		)	—			(123		)	—			(123		)
Sale of MSRs	—			(1		)	—			(1		)	—			(1		)	—			(1		)
Sale of asset management subsidiary	—			—			—			—			—			—			(9		)	(9		)
Balance, September 30, 2014		$—			$1,305			$15			$1,320			$—			$1,305			$15			$1,320

¹Primarily reflects changes in discount rates and prepayment speed assumptions, due to changes in interest rates.

² Represents changes due to the collection of expected cash flows, net of accretion, due to the passage of time.



	Three Months Ended
	September 30		June 30		March 31		December 31		September 30
	2014		2014		2014		2013		2013
COMMON SHARE ROLLFORWARD
Balance, beginning of period	532,800		534,780		536,097		537,549		538,653
Common shares issued for employee benefit plans, stock option, and restricted stock activity	39		109		37		11		325
Repurchase of common stock	(5,481	)	(2,089	)	(1,354	)	(1,463	)	(1,429	)
Balance, end of period	527,358		532,800		534,780		536,097		537,549



SunTrust Banks, Inc. and Subsidiaries RECONCILEMENT OF NON-GAAP MEASURES APPENDIX A TO THE EARNINGS RELEASE (Dollars in millions, except per share data) (Unaudited)
	Three Months Ended															Nine Months Ended
	September 30			June 30			March 31			December 31			September 30			September 30
	2014			2014			2014			2013			2013			2014			2013
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE ¹
Net interest income		$1,215			$1,209			$1,204			$1,213			$1,208			$3,629			$3,640
Taxable-equivalent adjustment	36			35			35			34			32			105			93
Net interest income - FTE	1,251			1,244			1,239			1,247			1,240			3,734			3,733
Noninterest income	780			957			791			814			680			2,528			2,401
Total revenue - FTE	2,031			2,201			2,030			2,061			1,920			6,262			6,134
Gain on sale of asset management subsidiary	—			(105		)	—			—			—			(105		)	—
Total revenue - FTE excluding gain on sale of asset management subsidiary ²		$2,031			$2,096			$2,030			$2,061			$1,920			$6,157			$6,134
Noninterest income		$780			$957			$791			$814			$680			$2,528			$2,401
Gain on sale of asset management subsidiary	—			(105		)	—			—			—			(105		)	—
Noninterest income excluding gain on sale of asset management subsidiary ²		$780			$852			$791			$814			$680			$2,423			$2,401
Return on average common shareholders’ equity	10.41		%	7.29		%	7.59		%	7.99		%	3.49		%	8.45		%	5.79		%
Effect of removing average intangible assets, excluding MSRs	4.18			3.00			3.19			3.62			1.61			3.47			2.65
Return on average tangible common shareholders' equity ³	14.59		%	10.29		%	10.78		%	11.61		%	5.10		%	11.92		%	8.44		%
Efficiency ratio ^{4, 5}	62.03		%	68.93		%	66.83		%	66.05		%	90.13		%	66.01		%	72.88		%
Impact of excluding amortization of intangible assets	(0.34		)	(0.16		)	(0.18		)	(0.21		)	(0.31		)	(0.22		)	(0.30		)
Tangible efficiency ratio ^{5, 6}	61.69		%	68.77		%	66.65		%	65.84		%	89.82		%	65.79		%	72.58		%

	September 30			June 30			March 31			December 31			September 30
	2014			2014			2014			2013			2013
Total shareholders' equity		$22,269			$22,131			$21,817			$21,422			$21,070
Goodwill, net of deferred taxes of $210 million, $206 million, $193 million, $186 million, and $180 million, respectively	(6,127		)	(6,131		)	(6,184		)	(6,183		)	(6,189		)
Other intangible assets, net of deferred taxes of $0, $1 million, $1 million, $2 million, and $2 million, respectively, and MSRs	(1,320		)	(1,276		)	(1,281		)	(1,332		)	(1,285		)
MSRs	1,305			1,259			1,251			1,300			1,248
Tangible equity	16,127			15,983			15,603			15,207			14,844
Preferred stock	(725		)	(725		)	(725		)	(725		)	(725		)
Tangible common equity		$15,402			$15,258			$14,878			$14,482			$14,119
Total assets		$186,818			$182,559			$179,542			$175,335			$171,777
Goodwill	(6,337		)	(6,337		)	(6,377		)	(6,369		)	(6,369		)
Other intangible assets including MSRs	(1,320		)	(1,277		)	(1,282		)	(1,334		)	(1,287		)
MSRs	1,305			1,259			1,251			1,300			1,248
Tangible assets		$180,466			$176,204			$173,134			$168,932			$165,369
Tangible equity to tangible assets ⁷	8.94		%	9.07		%	9.01		%	9.00		%	8.98		%
Tangible book value per common share ⁸		$29.21			$28.64			$27.82			$27.01			$26.27

Total loans		$132,151			$129,744			$129,196			$127,877			$124,340
Government guaranteed loans	(5,965		)	(6,081		)	(8,828		)	(8,961		)	(9,016		)
Loans held at fair value	(284		)	(292		)	(299		)	(302		)	(316		)
Total loans, excluding government guaranteed and fair value loans		$125,902			$123,371			$120,069			$118,614			$115,008
Allowance to total loans, excluding government guaranteed and fair value loans ⁹	1.56		%	1.62		%	1.70		%	1.72		%	1.80		%



SunTrust Banks, Inc. and Subsidiaries RECONCILEMENT OF NON-GAAP MEASURES APPENDIX A TO THE EARNINGS RELEASE, continued (Dollars in millions, except per share data) (Unaudited)
	Three Months Ended													Nine Months Ended
	September 30			June 30			March 31		December 31		September 30			September 30
	2014			2014			2014		2013		2013			2014			2013
NON-GAAP MEASURES PRESENTED IN THE EARNINGS RELEASE ¹
Net income available to common shareholders		$563			$387			$393		$413		$179			$1,343			$884
Form 8-K and other legacy mortgage-related items:
Operating losses related to settlement of certain legal matters	—			204			—		—		323			204			323
Mortgage repurchase provision related to repurchase settlements	—			—			—		—		63			—			63
Provision for unrecoverable servicing advances	—			—			—		—		96			—			96
Gain on sale of asset management subsidiary	—			(105		)	—		—		—			(105		)	—
Other legacy mortgage-related adjustments	—			(25		)	—		—		—			(25		)	—
Tax benefit related to above items	—			(25		)	—		—		(190		)	(25		)	(190		)
Tax benefit related to completion of tax authority exam	(130		)	—			—		—		—			(130		)	—
Net tax benefit related to subsidiary reorganization and other	—			—			—		—		(113		)	—			(113		)
Total Form 8-K and other legacy mortgage-related items	(130		)	49			—		—		179			(81		)	179
Net income available to common shareholders, excluding the impact of Form 8-K and other legacy mortgage-related items ¹⁰		$433			$436			$393		$413		$358			$1,262			$1,063

Net income per average common share, diluted		$1.06			$0.72			$0.73		$0.77		$0.33			$2.51			$1.64
Impact of Form 8-K and other legacy mortgage-related items	(0.25		)	0.09			—		—		0.33			(0.16		)	0.33
Net income per average common diluted share, excluding the impact of Form 8-K and other legacy mortgage-related items ¹⁰		$0.81			$0.81			$0.73		$0.77		$0.66			$2.35			$1.97

¹ Certain amounts in this schedule are presented net of applicable income taxes, which are calculated based on each subsidiary’s federal and state tax rates and laws. In general, the federal marginal tax rate is 35%, but the state marginal tax rates range from 1% to 8% in accordance with the subsidiary’s income tax filing requirements with various tax authorities. Additionally, the effective tax rate may differ from the federal and state marginal tax rates in certain cases where a permanent difference exists.

² SunTrust presents total revenue - FTE excluding gain on sale of asset management subsidiary and noninterest income excluding gain on sale of asset management subsidiary. The Company believes revenue and noninterest income excluding the gain on sale of the asset management subsidiary is more indicative of the Company’s performance because it isolates income that is primarily client relationship and client transaction driven and is more indicative of normalized operations.

³ SunTrust presents return on average tangible common shareholders' equity to exclude intangible assets, except for MSRs. The Company believes this measure is useful to investors because, by removing the effect of intangible assets, except for MSRs, (the level of which may vary from company to company), it allows investors to more easily compare the Company’s return on average common shareholders' equity to other companies in the industry who present a similar measure. The Company also believes that removing intangible assets, except for MSRs, is a more relevant measure of the return on the Company's common shareholders' equity.

⁴ Computed by dividing noninterest expense by total revenue - FTE. The FTE basis adjusts for the tax-favored status of net interest income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and it enhances comparability of net interest income arising from taxable and tax-exempt sources.

⁵ Amounts for periods prior to the first quarter of 2014 have been recalculated as a result of the Company’s early adoption of ASU 2014-01, which required retrospective application.

⁶ SunTrust presents a tangible efficiency ratio which excludes the amortization of intangible assets. The Company believes this measure is useful to investors because, by removing the effect of these intangible asset costs (the level of which may vary from company to company), it allows investors to more easily compare the Company’s efficiency to other companies in the industry. This measure is utilized by management to assess the efficiency of the Company and its lines of business.

⁷ SunTrust presents a tangible equity to tangible assets ratio that excludes the after-tax impact of purchase accounting intangible assets. The Company believes this measure is useful to investors because, by removing the effect of intangible assets that result from merger and acquisition activity (the level of which may vary from company to company), it allows investors to more easily compare the Company’s capital adequacy to other companies in the industry. This measure is used by management to analyze capital adequacy.

⁸ SunTrust presents a tangible book value per common share that excludes the after-tax impact of purchase accounting intangible assets and also excludes preferred stock from tangible equity. The Company believes this measure is useful to investors because, by removing the effect of intangible assets that result from merger and acquisition activity as well as preferred stock (the level of which may vary from company to company), it allows investors to more easily compare the Company’s book value on common stock to other companies in the industry.

⁹ SunTrust presents a ratio of allowance to total loans, excluding government guaranteed and fair value loans. The Company believes that the exclusion of loans that are held at fair value with no related allowance and loans guaranteed by a government agency that do not have an associated allowance recorded due to nominal risk of principal loss better depicts the allowance relative to loans that are covered by it.

¹⁰SunTrust presents net income available to common shareholders and net income per average common diluted share excluding items previously announced on Form 8-Ks filed with the SEC on September 9, 2014, July 3, 2014, and October 10, 2013, as well as other legacy mortgage-related items. The Company believes this measure is useful to investors because it removes the effect of material items impacting current and prior periods' results, allowing a more useful view of normalized operations. Removing these items also allows investors to compare the Company's results to other companies in the industry that may not have had similar items impacting their results.



SunTrust Banks, Inc. and Subsidiaries CONSUMER BANKING AND PRIVATE WEALTH MANAGEMENT (Dollars in millions) (Unaudited)
	Three Months Ended September 30								Nine Months Ended September 30
	2014			2013			% Change		2014			2013			% Change
Statements of Income:
Net interest income		$668			$653		2	%		$1,963			$1,945		1	%
FTE adjustment	—			—			—		—			—			—
Net interest income - FTE	668			653			2		1,963			1,945			1
Provision for credit losses ¹	40			23			74		135			201			(33	)
Net interest income - FTE - after provision for credit losses	628			630			—		1,828			1,744			5
Noninterest income before securities gains/(losses)	399			378			6		1,142			1,105			3
Securities gains/(losses), net	—			—			—		—			—			—
Total noninterest income	399			378			6		1,142			1,105			3
Noninterest expense before amortization	722			686			5		2,161			2,072			4
Amortization	3			5			(40	)	9			16			(44	)
Total noninterest expense	725			691			5		2,170			2,088			4
Income - FTE - before provision for income taxes	302			317			(5	)	800			761			5
Provision for income taxes	111			117			(5	)	294			280			5
FTE adjustment	—			—			—		—			—			—
Net income including income attributable to noncontrolling interest	191			200			(5	)	506			481			5
Less: net income attributable to noncontrolling interest	—			—			—		—			—			—
Net income		$191			$200		(5	)		$506			$481		5

Total revenue - FTE		$1,067			$1,031		3			$3,105			$3,050		2
Selected Average Balances:
Total loans		$41,893			$40,529		3	%		$41,553			$40,360		3	%
Goodwill	4,262			4,262			—		4,262			4,262			—
Other intangible assets excluding MSRs	16			30			(47	)	19			35			(46	)
Total assets	47,338			45,576			4		47,154			45,398			4
Consumer and commercial deposits	86,468			84,159			3		85,456			84,447			1
Performance Ratios:
Efficiency ratio	67.90		%	67.04		%			69.86		%	68.45		%
Impact of excluding amortization and associated funding cost of intangible assets	(1.82		)	(2.33		)			(1.96		)	(2.49		)
Tangible efficiency ratio	66.08		%	64.71		%			67.90		%	65.96		%
Other Information (End of Period):
Managed (discretionary) assets										$48,793			$48,721		—	%
Non-managed assets									54,388			53,800			1
Total assets under administration									103,181			102,521			1
Brokerage assets									46,382			42,515			9
Total assets under advisement										$149,563			$145,036		3


¹	Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision attributable to quarterly changes in the allowance for loan and lease losses and unfunded commitment reserve balances.



SunTrust Banks, Inc. and Subsidiaries WHOLESALE BANKING (Dollars in millions) (Unaudited)
	Three Months Ended September 30 ¹								Nine Months Ended September 30 ¹
	2014			2013			% Change ³		2014			2013			% Change ³
Statements of Income:
Net interest income		$423			$392		8	%		$1,234			$1,165		6	%
FTE adjustment	34			31			10		102			90			13
Net interest income - FTE	457			423			8		1,336			1,255			6
Provision for credit losses ²	9			52			(83	)	39			120			(68	)
Net interest income - FTE - after provision for credit losses	448			371			21		1,297			1,135			14
Noninterest income before securities gains/(losses)	241			248			(3	)	827			795			4
Securities gains/(losses), net	—			—			—		—			—			—
Total noninterest income	241			248			(3	)	827			795			4
Noninterest expense before amortization	359			381			(6	)	1,164			1,085			7
Amortization	4			—			NM		4			—			NM
Total noninterest expense	363			381			(5	)	1,168			1,085			8
Income - FTE - before provision for income taxes	326			238			37		956			845			13
Provision for income taxes	63			44			43		203			185			10
FTE adjustment	34			31			10		102			90			13
Net income including income attributable to noncontrolling interest	229			163			40		651			570			14
Less: net income attributable to noncontrolling interest	—			—			—		—			—			—
Net income		$229			$163		40			$651			$570		14

Total revenue - FTE		$698			$671		4			$2,163			$2,050		6
Selected Average Balances:
Total loans		$63,552			$54,185		17	%		$61,307			$53,413		15	%
Goodwill	2,075			2,067			—		2,072			2,067			—
Other intangible assets excluding MSRs	—			—			—		—			—			—
Total assets	75,137			66,038			14		72,647			65,592			11
Consumer and commercial deposits	43,144			39,269			10		42,750			39,030			10
Performance Ratios:
Efficiency ratio	51.94		%	56.64		%			53.95		%	52.90		%
Impact of excluding amortization and associated funding cost of intangible assets	(1.44		)	(1.17		)			(1.09		)	(1.11		)
Tangible efficiency ratio	50.50		%	55.47		%			52.86		%	51.79		%

During the second quarter of 2014 the Company sold its registered asset management subsidiary, RidgeWorth; the results of which were previously reported within the Wholesale Banking segment. The financial results of RidgeWorth, including the gain on sale, have been transferred to the Corporate Other segment to provide for enhanced comparability for the Wholesale Banking segment excluding RidgeWorth.


²	Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision attributable to quarterly changes in the allowance for loan and lease losses and unfunded commitment reserve balances.


³	“NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.



SunTrust Banks, Inc. and Subsidiaries MORTGAGE BANKING (Dollars in millions) (Unaudited)
	Three Months Ended September 30								Nine Months Ended September 30
	2014			2013			% Change ³		2014			2013			% Change
Statements of Income:
Net interest income		$148			$141		5	%		$422			$409		3	%
FTE adjustment	—			—			—		—			—			—
Net interest income - FTE	148			141			5		422			409			3
Provision for credit losses ¹	44			20			NM		94			133			(29	)
Net interest income - FTE - after provision for credit losses	104			121			(14	)	328			276			19
Noninterest income before securities gains/(losses)	130			(1		)	NM		350			328			7
Securities gains/(losses), net	—			—			—		—			—			—
Total noninterest income	130			(1		)	NM		350			328			7
Noninterest expense before amortization	166			638			(74	)	717			1,248			(43	)
Amortization	—			—			—		—			—			—
Total noninterest expense	166			638			(74	)	717			1,248			(43	)
Income/(loss) - FTE - before benefit for income taxes	68			(518		)	NM		(39		)	(644		)	94
Provision/(benefit) for income taxes	25			(129		)	NM		(16		)	(181		)	91
FTE adjustment	—			—			—		—			—			—
Net income/(loss) including income attributable to noncontrolling interest	43			(389		)	NM		(23		)	(463		)	95
Less: net income attributable to noncontrolling interest	—			—			—		—			—			—
Net income/(loss) ²		$43			($389	)	NM			($23	)		($463	)	95

Total revenue - FTE		$278			$140		99			$772			$737		5
Selected Average Balances:
Total loans		$25,262			$27,920		(10	)%		$27,106			$27,830		(3	)%
Goodwill	—			—			—		—			—			—
Other intangible assets excluding MSRs	—			—			—		—			—			—
Total assets	30,414			33,025			(8	)	31,067			32,973			(6	)
Consumer and commercial deposits	2,664			3,247			(18	)	2,260			3,501			(35	)
Performance Ratios:
Efficiency ratio	59.68		%	456.43		%			92.91		%	169.25		%
Impact of excluding amortization and associated funding cost of intangible assets	—			—					—			—
Tangible efficiency ratio	59.68		%	456.43		%			92.91		%	169.25		%
Other Information:
Production Data
Channel mix
Retail		$2,047			$4,434		(54	)%		$5,932			$14,068		(58	)%
Wholesale	—			739			(100	)	1			3,032			(100	)
Correspondent	2,481			2,822			(12	)	5,785			8,826			(34	)
Total production		$4,528			$7,995		(43	)		$11,718			$25,926		(55	)
Channel mix - percent
Retail	45		%	56		%			51		%	54		%
Wholesale	—			9					—			12
Correspondent	55			35					49			34
Total production	100		%	100		%			100		%	100		%
Purchase and refinance mix
Refinance		$1,593			$4,334		(63	)		$4,315			$17,421		(75	)
Purchase	2,935			3,661			(20	)	7,403			8,505			(13	)
Total production		$4,528			$7,995		(43	)		$11,718			$25,926		(55	)
Purchase and refinance mix - percent
Refinance	35		%	54		%			37		%	67		%
Purchase	65			46					63			33
Total production	100		%	100		%			100		%	100		%
Applications		$6,420			$7,116		(10	)		$18,169			$32,228		(44	)
Mortgage Servicing Data (End of Period):
Total loans serviced										$135,804			$139,710		(3	)%
Total loans serviced for others									109,142			109,224			—
Net carrying value of MSRs									1,305			1,248			5
Ratio of net carrying value of MSRs to total loans serviced for others									1.196		%	1.143		%

¹ Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision attributable to quarterly changes in the allowance for loan and lease losses and unfunded commitment reserve balances.

² Excluding the $179 million net pre-tax charge during the second quarter of 2014 related to legacy mortgage matters, presented in Appendix A to the Earnings Release, Mortgage Banking net income was $92 million for the nine months ended September 30, 2014.

³ “NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.



SunTrust Banks, Inc. and Subsidiaries CORPORATE OTHER (Dollars in millions) (Unaudited)
	Three Months Ended September 30 ¹								Nine Months Ended September 30 ¹
	2014			2013			% Change ³		2014			2013			% Change ³
Statements of Income:
Net interest (loss)/income		($24	)		$22		NM			$10			$121		(92	)%
FTE adjustment	2			1			100		3			3			—
Net interest (loss)/income - FTE	(22		)	23			NM		13			124			(90	)
Benefit for credit losses ²	—			—			—		—			(1		)	(100	)
Net interest (loss)/income - FTE - after benefit for credit losses	(22		)	23			NM		13			125			(90	)
Noninterest income before securities (losses)/gains	19			55			(65	)	220			171			29
Securities (losses)/gains, net	(9		)	—			NM		(11		)	2			NM
Total noninterest income	10			55			(82	)	209			173			21
Noninterest expense before amortization	5			19			(74	)	78			47			66
Amortization	—			1			(100	)	1			2			(50	)
Total noninterest expense	5			20			(75	)	79			49			61
(Loss)/income - FTE - before benefit for income taxes	(17		)	58			NM		143			249			(43	)
Benefit for income taxes	(132		)	(165		)	(20	)	(117		)	(100		)	17
FTE adjustment	2			1			100		3			3			—
Net income including income attributable to noncontrolling interest	113			222			(49	)	257			346			(26	)
Less: net income attributable to noncontrolling interest	—			7			(100	)	11			16			(31	)
Net income		$113			$215		(47	)		$246			$330		(25	)

Total revenue - FTE		($12	)		$78		NM			$222			$297		(25	)
Selected Average Balances:
Total loans		$40			$38		5	%		$44			$46		(4	)%
Securities available for sale	24,354			22,579			8		23,311			22,606			3
Goodwill	—			40			(100	)	24			40			(40	)
Other intangible assets excluding MSRs	—			11			(100	)	6			12			(50	)
Total assets	30,544			27,199			12		29,230			28,098			4
Consumer and commercial deposits	(81		)	(57		)	(42	)	(97		)	(31		)	NM
Other Information (End of Period):
Managed (discretionary) assets										$—			$44,332		(100	)%
Non-managed assets									—			—			—
Total assets under administration									—			44,332			(100	)
Brokerage assets									—			—			—
Total assets under advisement										$—			$44,332		(100	)
Duration of investment portfolio (in years)									4.0			4.1
Net interest income interest rate sensitivity:
% Change in net interest income under:
Instantaneous 100 bp increase in rates over next 12 months									3.9		%	1.0		%
Instantaneous 200 bp increase in rates over next 12 months									7.4		%	1.7		%
Instantaneous 25 bp decrease in rates over next 12 months									(1.0		)%	(0.8		)%


²	Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision attributable to quarterly changes in the allowance for loan and lease losses and unfunded commitment reserve balances.


³	“NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED - SEGMENT TOTALS

(Dollars in millions) (Unaudited)



	Three Months Ended September 30								Nine Months Ended September 30
	2014			2013			% Change ²		2014			2013			% Change ²
Statements of Income:
Net interest income		$1,215			$1,208		1	%		$3,629			$3,640		—	%
FTE adjustment	36			32			13		105			93			13
Net interest income - FTE	1,251			1,240			1		3,734			3,733			—
Provision for credit losses	93			95			(2	)	268			453			(41	)
Net interest income - FTE - after provision for credit losses	1,158			1,145			1		3,466			3,280			6
Noninterest income before securities (losses)/gains	789			680			16		2,539			2,399			6
Securities (losses)/gains, net	(9		)	—			NM		(11		)	2			NM
Total noninterest income	780			680			15		2,528			2,401			5
Noninterest expense before amortization ¹	1,252			1,724			(27	)	4,120			4,452			(7	)
Amortization	7			6			17		14			18			(22	)
Total noninterest expense ¹	1,259			1,730			(27	)	4,134			4,470			(8	)
Income - FTE - before provision for income taxes	679			95			NM		1,860			1,211			54
Provision/(benefit) for income taxes ¹	67			(133		)	NM		364			184			98
FTE adjustment	36			32			13		105			93			13
Net income including income attributable to noncontrolling interest	576			196			NM		1,391			934			49
Less: net income attributable to noncontrolling interest	—			7			(100	)	11			16			(31	)
Net income		$576			$189		NM			$1,380			$918		50

Total revenue - FTE		$2,031			$1,920		6			$6,262			$6,134		2
Selected Average Balances:
Total loans		$130,747			$122,672		7	%		$130,010			$121,649		7	%
Goodwill	6,337			6,370			(1	)	6,358			6,369			—
Other intangible assets excluding MSRs	16			41			(61	)	25			47			(47	)
Total assets	183,433			171,838			7		180,098			172,061			5
Consumer and commercial deposits	132,195			126,618			4		130,369			126,947			3
Performance Ratios:
Efficiency ratio	62.03		%	90.13		%			66.01		%	72.88		%
Impact of excluding amortization and associated funding cost of intangible assets	(0.34		)	(0.31		)			(0.22		)	(0.30		)
Tangible efficiency ratio	61.69		%	89.82		%			65.79		%	72.58		%
Other Information (End of Period):
Managed (discretionary) assets										$48,793			$93,053		(48	)%
Non-managed assets									54,388			53,800			1
Total assets under administration									103,181			146,853			(30	)
Brokerage assets									46,382			42,515			9
Total assets under advisement										$149,563			$189,368		(21	)


¹	Amortization expense related to qualified affordable housing investment costs is recognized in provision for income taxes for each of the periods presented as allowed by a recently adopted accounting standard. Prior to the first quarter of 2014, these amounts were recognized in other noninterest expense.


²	“NM” - Not meaningful. Those changes over 100 percent were not considered to be meaningful.