Document

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Date of Report (Date of earliest event reported):		October 17, 2019

__________________________________________

(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:	(800)	786-8787



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

Securities registered pursuant to Section 12(b) of the Exchange Act:



Title of Each Class	Trading Symbol(s)	Name of Exchange on Which Registered
Common Stock	STI	New York Stock Exchange
Perpetual Preferred Stock, Series A⁽¹⁾	STI PRA	New York Stock Exchange
Perpetual Preferred Stock, Series B⁽²⁾	STI/PRI	New York Stock Exchange

⁽¹⁾ Depositary Shares, Each Representing a 1/4000^thInterest in a Share of Perpetual Preferred Stock, Series A.

⁽²⁾ 5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities of SunTrust Preferred Capital I (representing interests in shares of Perpetual Preferred Stock, Series B).

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD.

On October 17, 2019, SunTrust Banks, Inc. (the “Registrant”) announced financial results for the period ended September 30, 2019. 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, 2019, at 10:00 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.



Exhibit Number		Description
99.1		News release dated October 17, 2019 (furnished with the Commission as a part of this Form 8-K).

99.2		Presentation slides dated October 17, 2019 (furnished with the Commission as a part of this Form 8-K).

101		Interactive Data File in Inline XBRL format (embedded within the Inline XBRL document of this Form 8-K).

104		Cover Page Interactive Data File in Inline XBRL format (included in Exhibit 101 to this Form 8-K).

Forward Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and the future performance of BB&T and SunTrust. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “could,” “may,” “should,” “will” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BB&T’s and SunTrust’s current expectations and assumptions regarding BB&T’s and SunTrust’s businesses, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Many possible events or factors could affect BB&T’s or SunTrust’s future financial results and performance and could cause actual results or performance to differ materially from anticipated results or performance. Such risks and uncertainties include, among others: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between BB&T and SunTrust, the outcome of any legal proceedings that may be instituted against BB&T or SunTrust, delays in completing the transaction, the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction) and shareholder approvals or to satisfy any of the other conditions to the transaction on a timely basis or at all, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where BB&T and SunTrust do business, the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, diversion of management’s attention from ongoing business operations and opportunities, potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction, the ability to complete the transaction and integration of BB&T and SunTrust successfully, and the dilution caused by BB&T’s issuance of additional shares of its capital stock in connection with the transaction. Except to the extent required by applicable law or regulation, each of BB&T and SunTrust disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Further information regarding BB&T, SunTrust and factors which could affect the forward-looking statements contained herein can be found under the captions “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” in BB&T’s and SunTrust’s joint proxy statement/prospectus that forms part of the registration statement on Form S-4 filed by BB&T, in BB&T’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and its other filings with the Securities and Exchange Commission (“SEC”), and in SunTrust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and its other filings with the SEC.

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, 2019	By: /s/ R. Ryan Richards
		R. Ryan Richards, Senior Vice President and Controller



Contact:
Investors		Media
Ankur Vyas		Mike McCoy
(404) 827-6714		(404) 588-7230

For Immediate Release

SunTrust Reports Third Quarter 2019 Results

Continued Loan Growth, Improved Deposit Growth, Diverse Fee Income,

and Strong Credit Quality Highlight Third Quarter Results

Proposed Merger of Equals with BB&T on Track; Momentum Towards Truist is Building

ATLANTA — For the third quarter of 2019, SunTrust Banks, Inc. (NYSE: STI) reported net income available to common shareholders of $597 million, or $1.34 per average common diluted share, which includes $(0.06) per share of merger-related impacts associated with the Company's proposed merger of equals with BB&T Corporation. This compares to $1.48 for the prior quarter, which included $0.07 per share of discrete tax benefits and $(0.03) per share of merger-related impacts, and $1.56 for the third quarter of 2018, which included $0.14 per share of discrete tax benefits.

For the nine months ended September 30, 2019, earnings per average common diluted share were $4.06 which includes $(0.17) per share of merger-related impacts. This compares to $4.34 for the nine months ended September 30, 2018.

“We delivered solid third quarter results, marked by continued loan growth, improved deposit growth, diverse fee income, and strong credit quality. Our underlying strategic progress is strong, evidenced by 8% year-over-year growth in both loans and noninterest income, providing us with good momentum heading into our proposed merger of equals with BB&T,” said William H. Rogers, Jr., chairman and CEO of SunTrust Banks, Inc. “I am confident that when SunTrust and BB&T come together to create Truist, we can deliver industry leading profitability, better capabilities for our clients, and enhanced benefits for both our teammates and our communities.”

Third Quarter 2019 Financial Highlights

(Commentary is on a fully taxable-equivalent basis unless otherwise noted. Consistent with SEC guidance in Industry Guide 3 that contemplates the calculation of tax-exempt income on a tax equivalent basis, net interest income, net interest margin, total revenue, and efficiency ratios are provided on a fully taxable-equivalent basis, which generally assumes a 21% marginal federal tax rate as well as state income taxes, where applicable. We provide unadjusted amounts in the table on page 3 of this news release and detailed reconciliations and additional information in Appendix A on pages 22 and 23.)

Net income available to common shareholders was $597 million, or $1.34 per average common diluted share, compared to $1.48 for the prior quarter and $1.56 for the third quarter of 2018.

Merger-related costs were $22 million in the third quarter of 2019, compared to $8 million in the second quarter of 2019. In addition to these costs, there were $11 million and $6 million of other merger-related expenses in the current and prior quarter, respectively, the majority of which were recorded in ‘other noninterest expense’. Combined, the current quarter results included $33 million, or $(0.06) per share, of merger-related impacts.

Total revenue was down 8% sequentially and up 3% year-over-year. Excluding the $5 million and $205 million insurance settlement benefits related to financial crisis-era related claims recognized in the current and prior quarters, respectively, total revenue was stable sequentially and increased 2% year-over-year driven by higher noninterest income.

Net interest margin was 3.06% in the current quarter, reflecting declines of 10 and 21 basis points sequentially and year-over-year, respectively, driven primarily by declines in short-term and long-term interest rates (which negatively impacted earning asset yields). The year-over-year decline was also impacted by higher funding costs.

Provision for credit losses increased $5 million sequentially and $71 million year-over-year. The year-over-year increase reflects both higher net charge-offs in the current quarter and a release of loan loss reserves in the prior year quarter.

Noninterest expense decreased $164 million sequentially and increased $90 million year-over-year. Excluding the $205 million charitable contribution to the SunTrust Foundation in the prior quarter and the merger-related impacts of $33 million in the current quarter and $14 million in the prior quarter, noninterest expense increased $22 million sequentially and $57 million year-over-year due primarily to higher employee compensation and benefits.

The efficiency and tangible efficiency ratios for the current quarter were 62.1% and 61.2%, respectively. Excluding the charitable contribution in the prior quarter together with the insurance settlements and merger-related impacts in the current and prior quarter, the adjusted tangible efficiency ratio was 59.9% for the current quarter, compared to 59.0% for the prior quarter and 58.9% for the prior year.

Average performing loans held for investment (“LHFI”) was up 1% compared to the prior quarter and up 8% year-over-year, driven primarily by growth in CRE, consumer direct, consumer indirect, and residential mortgages, offset partially by declines in commercial construction loans and residential home equity products. The year-over-year increase was also positively impacted by 8% growth in C&I loans.

Average consumer and commercial deposits increased 2% compared to both the prior quarter and the prior year. Sequential growth was driven primarily by increases in NOW accounts, money market accounts, and time deposits. Year-over-year growth was driven by increases in NOW accounts and time deposits, offset partially by declines in demand deposits and money market accounts.

Estimated capital ratios continue to be well above regulatory requirements. The Common Equity Tier 1 (“CET1”) ratio was estimated to be 9.3% as of September 30, 2019, slightly higher relative to the prior quarter.

Book value per common share was $54.87 and tangible book value per common share was $40.58, both up 3% from June 30, 2019, driven primarily by growth in retained earnings and a decrease in accumulated other comprehensive loss.

Nonperforming loans (“NPLs”) increased $64 million from the prior quarter and represented 0.38% of period-end LHFI at September 30, 2019, compared to 0.34% of period-end LHFI at June 30, 2019.

Net charge-offs for the current quarter were $112 million, or 0.28% of total average LHFI on an annualized basis, compared to 0.22% during the prior quarter and 0.24% during the third quarter of 2018.

At September 30, 2019, the allowance for loan and lease losses (“ALLL”) to period-end LHFI ratio was 1.07%, stable compared to the prior quarter and down 3 basis points relative to the prior year quarter.

Provision for credit losses increased $5 million sequentially and $71 million year-over-year. The sequential increase was driven primarily by higher net charge-offs. The year-over-year increase reflects both higher net charge-offs in the current quarter and a release of loan loss reserves in the prior year quarter.




Income Statement (Dollars in millions, except per share data)	3Q 2019			2Q 2019			1Q 2019			4Q 2018			3Q 2018
Net interest income	$1,510			$1,535			$1,544			$1,547			$1,512
Net interest income-FTE ¹	1,532			1,557			1,567			1,570			1,534
Net interest margin	3.01		%	3.12		%	3.22		%	3.22		%	3.22		%
Net interest margin-FTE ¹	3.06			3.16			3.27			3.27			3.27
Noninterest income	$843			$1,025			$784			$818			$782
Total revenue	2,353			2,560			2,328			2,365			2,294
Total revenue-FTE ¹	2,375			2,582			2,351			2,388			2,316
Noninterest expense	1,474			1,638			1,489			1,482			1,384
Provision for credit losses	132			127			153			87			61
Net income available to common shareholders	597			663			554			632			726
Earnings per average common diluted share	1.34			1.48			1.24			1.40			1.56

Balance Sheet (Dollars in billions)
Average LHFI		$157.6			$156.2			$154.3			$149.7			$146.0
Average consumer and commercial deposits	162.5			159.9			159.9			161.6			159.3

Capital
Basel III capital ratios at period end ² :
Tier 1 capital	10.38		%	10.24		%	10.15		%	10.30		%	10.72		%
Common Equity Tier 1 ("CET1")	9.33			9.19			9.09			9.21			9.60
Total average shareholders’ equity to total average assets	11.67			11.42			11.25			11.21			11.71

Asset Quality
Net charge-offs to total average LHFI (annualized)	0.28		%	0.22		%	0.26		%	0.26		%	0.24		%
ALLL to period-end LHFI ³	1.07			1.07			1.06			1.06			1.10
NPLs to period-end LHFI	0.38			0.34			0.34			0.35			0.47

¹ See Appendix A on pages 22 and 23 for non-U.S. GAAP reconciliations and additional information.

² Basel III capital ratios are calculated under the standardized approach using regulatory capital methodology applicable to the Company for each period presented. Capital ratios at September 30, 2019 are estimated as of the date of this document.

³ LHFI measured at fair value were excluded from period-end LHFI in the calculation as no allowance is recorded for loans measured at fair value.

Consolidated Financial Performance Details

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

Total revenue was $2.4 billion for the current quarter, a decrease of 8% compared to the prior quarter and an increase of 3% from the prior year. Excluding the $5 million and $205 million insurance settlement benefits related to financial crisis-era related claims recognized in the current quarter and prior quarter, respectively, total revenue was stable sequentially and increased 2% year-over-year driven by higher noninterest income.

Net interest income was $1.5 billion for the third quarter of 2019, a decrease of $25 million compared to the prior quarter due primarily to lower earning asset yields, which drove a decline in the net interest margin, partially offset by a $1.4 billion, or 1%, increase in average performing LHFI. Net interest income was stable relative to the prior year as the decline in the net interest margin was offset by 8% growth in average performing LHFI and 2% growth in average client deposits.

Net interest margin for the current quarter was 3.06%, compared to 3.16% and 3.27% in the prior quarter and prior year, respectively, driven primarily by declines in short-term and long-term interest rates (which negatively impacted earning asset yields). The year-over-year decline was also impacted by higher funding costs.

For the nine months ended September 30, 2019, net interest income was $4.7 billion, a $150 million, or 3%, increase compared to the nine months ended September 30, 2018. The net interest margin was 3.16% for the first nine months of 2019, a 10 basis point decrease compared to the same period in 2018. The decrease in net interest margin was driven primarily by a 45 basis point increase in rate paid on average interest-bearing liabilities, which was offset partially by a 27 basis point increase in earning asset yields.

Noninterest income was $843 million for the current quarter, compared to $1.0 billion for the prior quarter and $782 million for the third quarter of 2018. Excluding the $5 million and $205 million insurance settlement benefits related to financial crisis-era related claims recognized in the current and prior quarters, respectively, noninterest income increased $18 million sequentially and $56 million year-over-year. The sequential increase was driven largely by higher mortgage-related income and investment banking income. The year-over-year increase was driven by increases across most categories, most notably a $23 million increase in mortgage-related income.

Client transaction-related fees (namely service charges on deposits, other charges and fees, and card fees) increased $5 million sequentially and $6 million year-over-year. The sequential increase was driven by one more day during the current quarter, while the year-over-year increase was driven primarily by certain discrete impacts (recorded as contra-revenue) recognized in card fees in the third quarter of 2018.

Investment banking income was $159 million for the current quarter, compared to $142 million in the prior quarter and $150 million for the third quarter of 2018. The $17 million sequential increase was due primarily to higher syndicated finance and M&A activity, while the year-over-year increase was driven by higher syndicated finance and investment grade bond origination activity, partially offset by a decline in equity capital markets.

Mortgage-related income for the current quarter was $106 million, compared to $86 million for the prior quarter and $83 million for the third quarter of 2018. The sequential and year-over-year increases were driven primarily by higher production-related income due to increased refinance and purchase volumes, partially offset by higher decay expense which negatively impacted servicing income. At September 30, 2019, the servicing portfolio totaled $165.6 billion, down 1% compared to the prior quarter and 3% year-over-year.

Trading income was $29 million for the current quarter, compared to $55 million for the prior quarter and $42 million for the prior year. The sequential and year-over-year decreases were largely driven by an increase in counterparty credit valuation reserves in the current quarter. The sequential decrease was also impacted by lower fixed income sales and trading revenue.

Commercial real estate-related income was $32 million for the current quarter, compared to $50 million for the prior quarter and $24 million for the prior year. The sequential decline was primarily attributable to lower structured real estate related income, while the year-over-year increase was driven by higher structured real estate related income and higher commercial mortgage production and servicing income from the Company's agency lending business.

Net securities gains/(losses) totaled gains of $4 million for the current quarter compared to losses of ($42) million in the prior quarter that arose from a repositioning of the Company's securities AFS portfolio. There were no net securities gains/(losses) in the prior year quarter.

Other noninterest income was $40 million for the current quarter, compared to $72 million in the prior quarter and $21 million in the third quarter of 2018. The sequential decrease was due primarily to a $44 million gain on the sale of accruing TDRs during the second quarter of 2019. The year-over-year increase was due primarily to $10 million in net remeasurement gains on equity investments recognized during the current quarter.

For the nine months ended September 30, 2019, noninterest income was $2.7 billion, compared to $2.4 billion for the nine months ended September 30, 2018. The $245 million increase compared to the prior year was driven primarily by the insurance settlement benefits recognized in the current and prior quarter as well as higher commercial real estate-related and mortgage-related income.

Noninterest expense was $1.5 billion in the current quarter, down $164 million sequentially and an increase of $90 million compared to the third quarter of 2018. Excluding the $205 million charitable contribution to the SunTrust Foundation in the prior quarter and the merger-related impacts of $33 million in the current quarter and $14 million in the prior quarter, noninterest expense increased $22 million sequentially and $57 million year-over-year. The $22 million sequential increase was driven primarily by higher employee compensation and benefits costs and higher operating losses. The $57 million year-over-year increase was driven by higher employee compensation and benefits, net occupancy expense, and ongoing investments in technology.

Employee compensation and benefits expense was $841 million in the current quarter, compared to $828 million in the prior quarter and $795 million in the third quarter of 2018. The $13 million sequential increase was driven primarily by higher salary costs (due to one additional day in the quarter) and higher contract programming costs. The $46 million year-over-year increase was driven primarily by higher salary and benefits costs in the current quarter.

Outside processing and software expense was $241 million in both the current and prior quarter, $7 million higher than the third quarter of 2018. The year-over-year increase was driven primarily by higher software-related costs resulting from the amortization of new and upgraded technology assets.

Net occupancy expense was $102 million in the current quarter, stable compared to the prior quarter and $16 million higher than the third quarter of 2018. The year-over-year increase was driven primarily by lease termination gains recognized in the prior year quarter and higher rent expense in the current quarter.

Merger-related costs are expenses associated with the Company’s proposed merger of equals with BB&T Corporation as announced on February 7, 2019. Current quarter costs totaled $22 million and were primarily comprised of legal and professional services and write-offs of certain technology development projects in progress. In addition to these costs, there were $11 million of other merger-related expenses (consulting fees and retention payments) that were primarily recorded in ‘other noninterest expense’.

Operating losses were $23 million in the current quarter, compared to $14 million in the prior quarter and $18 million in the third quarter of 2018. The sequential and year-over-year increases were driven primarily by higher fraud costs recognized during the current quarter.

Regulatory assessments expense was $17 million in both the current and prior quarter, $22 million lower than the prior year. The year-over-year decrease was driven by the cessation of the FDIC Deposit Insurance Fund surcharge in the fourth quarter of 2018.

Other noninterest expense was $127 million in the current quarter, compared to $124 million in the prior quarter and $108 million in the third quarter of 2018. The $19 million year-over-year increase was driven primarily by merger-related impacts in the current quarter (primarily consulting fees).

For the nine months ended September 30, 2019, noninterest expense was $4.6 billion compared to $4.2 billion for the nine months ended September 30, 2018. The $411 million increase was driven largely by the $205 million charitable contribution and $92 million in merger-related impacts. Excluding these, expenses were up 3% driven by a $53 million increase in outside processing and software, a $42 million increase in employee compensation and benefits, and a $35 million increase in net occupancy expense.

For the third quarter of 2019, the Company recorded a provision for income taxes of $122 million compared to $105 million for the prior quarter and $95 million for the third quarter of 2018. The effective tax rate for the current quarter was 16%, compared to 13% in the prior quarter and 11% in the third quarter of 2018. The prior quarter included $32 million of discrete tax benefits related primarily to the resolution of certain tax matters, while the third quarter of 2018 included $67 million of discrete tax benefits related to the finalization of the impact of tax reform and the completion of the merger of SunTrust Mortgage into SunTrust Bank.

At September 30, 2019, the Company had total assets of $227.4 billion and total shareholders’ equity of $26.5 billion, representing 12% of total assets. Book value per common share was $54.87 and tangible book value per common share was $40.58, both up 3% compared to June 30, 2019, driven primarily by growth in retained earnings and a decrease in accumulated other comprehensive loss.

Average performing LHFI totaled $157.1 billion for the current quarter, up 1% compared to the prior quarter and up 8% compared to the prior year. The sequential growth was driven primarily by increases in CRE, consumer direct, consumer indirect loans, and residential mortgages, offset partially by declines in commercial construction loans and residential home equity products. The year-over-year increase was also positively impacted by 8% growth in C&I loans.

Average consumer and commercial deposits totaled $162.5 billion for the current quarter, a 2% increase compared to both the prior quarter and the third quarter of 2018. Sequential growth was driven primarily by increases in NOW accounts, money market accounts, and time deposits. Year-over-year growth was driven by increases in NOW accounts and time deposits, offset partially by declines in demand deposits and money market accounts.

Capital and Liquidity

The Company’s estimated capital ratios were well above current regulatory requirements with the Common Equity Tier 1 ratio estimated to be 9.3% at September 30, 2019. The ratios of average total equity to average total assets and tangible common equity to tangible assets were 11.7% and 8.2%, respectively, at September 30, 2019. Additionally, the Company declared a common stock dividend of $0.56 per common share in the third quarter of 2019, up 12% compared to both the prior quarter and the third quarter of 2018. The Company continues to have substantial available liquidity in the form of cash, high-quality government-backed or government-sponsored securities, and other available contingency funding sources.

Overall asset quality performance continues to be strong. Nonperforming assets (“NPAs”) totaled $661 million at September 30, 2019, up $63 million from the prior quarter and down $93 million year-over-year. The ratio of NPLs to period-end LHFI was 0.38%, 0.34%, and 0.47% at September 30, 2019, June 30, 2019, and September 30, 2018, respectively. The year-over-year decrease was driven primarily by lower residential mortgage NPLs due to loans transitioning from non-accruing status (as a result of forbearance relief provided after hurricanes) back to accruing status.

Net charge-offs totaled $112 million during the current quarter, an increase of $27 million compared to the prior quarter and $24 million compared to the third quarter of 2018. The ratio of annualized net charge-offs to total average LHFI was 0.28% for the current quarter, compared to 0.22% for the prior quarter and 0.24% for the prior year.

The provision for credit losses was $132 million in the current quarter, an increase of $5 million sequentially and $71 million year-over-year. The sequential increase was driven primarily by higher net charge-offs. The year-over-year increase reflects both higher net charge-offs and a release of loan loss reserves in the prior year quarter. At September 30, 2019, the ALLL was $1.7 billion, which represented 1.07% of period-end loans, stable relative to June 30, 2019 and a 3 basis point decline relative to September 30, 2018, the latter of which was driven by improved asset quality.

Early stage delinquencies decreased 1 basis point from the prior quarter and 16 basis points from September 30, 2018 to 0.58% at September 30, 2019. Excluding government-guaranteed loans, early stage delinquencies were 0.23%, which was stable compared to the prior quarter and down 1 basis point compared to the third quarter of 2018.

About SunTrust Banks, Inc.

SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of September 30, 2019, SunTrust had total assets of $227 billion and total deposits of $168 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Learn more at suntrust.com.

Business Segment Results

The Company has included its business segment financial tables as part of this release. Revenue and income amounts labeled “FTE” in the business segment tables are reported on a fully taxable-equivalent basis. For the business segments, net interest income is computed using matched-maturity funds transfer pricing and noninterest income includes federal and state tax credits that are grossed-up on a pre-tax equivalent basis. Further, provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to each segment's quarterly change in the allowance for loan and lease losses (“ALLL”) and unfunded commitments 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 Total Corporate Other results presented in this document also include Reconciling Items, which are comprised of differences created between internal management accounting practices and U.S. Generally Accepted Accounting Principles (“U.S. 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 included in this release and the earnings presentation which SunTrust has also published today and SunTrust’s forthcoming Form 10-Q. Detailed financial tables and the earnings presentation 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.

SunTrust management will host a conference call on October 17, 2019, at 10:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Individuals may call in beginning at 9:45 a.m. (Eastern Time) by dialing 1-877-209-9920 (Passcode: SunTrust). Individuals calling from outside the United States should dial 1-612-332-1210 (Passcode: SunTrust). A replay of the call will be available approximately one hour after the call ends on October 17, 2019, and will remain available until November 17, 2019, by dialing 1-800-475-6701 (domestic) or 1-320-365-3844 (international) (Passcode: 472691). 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, 2019, individuals may access an archived version of the webcast in the “Events & Presentations” section of the SunTrust investor relations website. This webcast will be archived and available for one year.

Non-GAAP Financial Measures

This news release includes non-GAAP financial measures to describe SunTrust’s performance. Additional information and reconciliations of those measures to GAAP measures are provided in the appendix to this news release beginning at page 22.

In this news release, consistent with SEC Industry Guide 3, the Company presents total revenue, net interest income, net interest margin, and efficiency ratios on a fully taxable equivalent (“FTE”) basis, and ratios on an annualized basis. The FTE basis adjusts for the tax-favored status of net interest income from certain loans and investments using a federal tax rate of 21%, as well as state income taxes, where applicable, to increase tax-exempt interest income to a taxable-equivalent basis. 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-FTE plus noninterest income.

The Company presents the following additional non-GAAP measures because many investors find them useful. Specifically:

The Company presents certain capital information on a tangible basis, including Tangible equity, Tangible common equity, the ratio of Tangible equity to tangible assets, the ratio of Tangible common equity to tangible assets, Tangible book value per share, and the Return on tangible common shareholders’ equity, which removes the after-tax impact of purchase accounting intangible assets from shareholders' equity and removes related intangible asset amortization from Net income available to common shareholders. The Company believes these measures are useful to investors because, by removing the amount of intangible assets that results from merger and acquisition activity and amortization expense (the level of which may vary from company to company), they allow investors to more easily compare the Company’s capital position and return on average tangible common shareholders' equity to other companies in the industry who present similar measures. The Company also believes that removing these items provides a more relevant measure of the return on the Company's common shareholders' equity. These measures are utilized by management to assess capital adequacy and profitability of the Company.

Similarly, the Company presents Efficiency ratio-FTE, Tangible efficiency ratio-FTE, and Adjusted tangible efficiency ratio-FTE. The efficiency ratio is computed by dividing Noninterest expense by Total revenue. Efficiency ratio-FTE is computed by dividing Noninterest expense by Total revenue-FTE. Tangible efficiency ratio-FTE excludes the amortization related to intangible assets and certain tax credits. The Company believes this measure is useful to investors because, by removing the impact of amortization (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. Adjusted tangible efficiency ratio-FTE removes the pre-tax impact of unusual or infrequent items from the calculation of Tangible efficiency ratio-FTE. These items include merger-related impacts recognized in the first, second, and third quarters of 2019, insurance settlement benefits related to financial crisis-era related claims recognized in the second and third quarters of 2019, the charitable contribution to the SunTrust Foundation recognized in the second quarter of 2019, and the legacy National Commerce Financial Corporation (“NCF”) pension plan settlement charge recognized in the fourth quarter of 2018. See slide 20 in the earnings presentation (Exhibit 99.2) as well as Appendix A in this news release for more details on these items. The Company believes this measure (Adjusted tangible efficiency ratio-FTE) is useful to investors because it is more reflective of normalized operations as it reflects results that are primarily client relationship and client transaction driven. This measure is utilized by management to assess the efficiency of the Company and its lines of business.

Important Cautionary Statement About Forward-Looking Statements

This news release contains forward-looking statements. Statements regarding the Company's proposed merger with BB&T, including the benefits and effects thereof, and the availability of liquidity to the Company 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,” “opportunity,” “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. 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, 2018 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						%
	2019			2018			Change		2019			2018			Change
EARNINGS & DIVIDENDS
Net income		$623			$752		(17	)%		$1,891			$2,117		(11	)%
Net income available to common shareholders	597			726			(18	)	1,814			2,036			(11	)
Total revenue	2,353			2,294			3		7,242			6,848			6
Total revenue-FTE ¹	2,375			2,316			3		7,308			6,913			6
Net income per average common share:
Diluted		$1.34			$1.56		(14	)%		$4.06			$4.34		(6	)%
Basic	1.35			1.58			(15	)	4.09			4.38			(7	)
Dividends declared per common share	0.56			0.50			12		1.56			1.30			20
CONDENSED BALANCE SHEETS
Selected Average Balances:
Total assets		$224,747			$207,395		8	%		$221,019			$205,370		8	%
Earning assets	198,878			186,344			7		196,902			184,607			7
Loans held for investment ("LHFI")	157,612			145,995			8		156,044			144,368			8
Intangible assets including residential mortgage servicing rights ("MSRs")	8,044			8,396			(4	)	8,235			8,332			(1	)
Residential MSRs	1,632			1,987			(18	)	1,824			1,922			(5	)
Consumer and commercial deposits	162,533			159,348			2		160,779			159,159			1
Total shareholders’ equity	26,226			24,275			8		25,307			24,324			4
Preferred stock	2,025			2,025			—		2,025			2,145			(6	)
Period End Balances:
Total assets										$227,368			$211,276		8	%
Earning assets									198,510			188,141			6
LHFI									158,455			147,215			8
Allowance for loan and lease losses ("ALLL")									1,699			1,623			5
Consumer and commercial deposits									166,126			159,332			4
Total shareholders’ equity									26,489			24,139			10
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	1.10		%	1.44		%	(24	)%	1.14		%	1.38		%	(17	)%
Return on average common shareholders’ equity	9.83			13.01			(24	)	10.46			12.33			(15	)
Return on average tangible common shareholders’ equity ¹	13.23			18.06			(27	)	14.27			17.14			(17	)
Net interest margin	3.01			3.22			(7	)	3.12			3.22			(3	)
Net interest margin-FTE ¹	3.06			3.27			(6	)	3.16			3.26			(3	)
Efficiency ratio	62.63			60.34			4		63.55			61.20			4
Efficiency ratio-FTE ¹	62.06			59.76			4		62.97			60.62			4
Tangible efficiency ratio-FTE ¹	61.17			58.94			4		62.23			59.89			4
Adjusted tangible efficiency ratio-FTE ¹	59.91			58.94			2		59.89			59.89			—
Effective tax rate	16			11			45		15			16			(6	)
Basel III capital ratios at period end ²:
Common Equity Tier 1 ("CET1")									9.33		%	9.60		%	(3	)%
Tier 1 capital									10.38			10.72			(3	)
Total capital									12.06			12.47			(3	)
Leverage									9.28			9.66			(4	)
Total average shareholders’ equity to total average assets	11.67		%	11.71		%	—	%	11.45			11.84			(3	)
Tangible equity to tangible assets ¹									9.19			8.76			5
Tangible common equity to tangible assets ¹									8.23			7.72			7
Book value per common share										$54.87			$48.00		14
Tangible book value per common share ¹									40.58			34.51			18
Market capitalization									30,549			30,632			—
Average common shares outstanding:
Diluted	446,962			464,164			(4	)%	446,673			469,006			(5	)%
Basic	443,960			460,252			(4	)	443,779			464,804			(5	)
Full-time equivalent employees									22,709			22,839			(1	)
Number of ATMs									2,036			2,053			(1	)
Full service banking offices									1,149			1,217			(6	)

See Appendix A for additional information and reconcilements of non-U.S. GAAP performance measures.

Basel III capital ratios are calculated under the standardized approach using regulatory capital methodology applicable to the Company for each period presented. Capital ratios at September 30, 2019 are estimated as of the date of this release.

SunTrust Banks, Inc. and Subsidiaries

FIVE QUARTER FINANCIAL HIGHLIGHTS



	Three Months Ended
	September 30			June 30			March 31			December 31			September 30
(Dollars in millions and shares in thousands, except per share data) (Unaudited)	2019			2019			2019			2018			2018
EARNINGS & DIVIDENDS
Net income		$623			$688			$580			$658			$752
Net income available to common shareholders	597			663			554			632			726
Total revenue	2,353			2,560			2,328			2,365			2,294
Total revenue-FTE ¹	2,375			2,582			2,351			2,388			2,316
Net income per average common share:
Diluted		$1.34			$1.48			$1.24			$1.40			$1.56
Basic	1.35			1.49			1.25			1.41			1.58
Dividends declared per common share	0.56			0.50			0.50			0.50			0.50
CONDENSED BALANCE SHEETS
Selected Average Balances:
Total assets		$224,747			$220,827			$217,403			$212,934			$207,395
Earning assets	198,878			197,395			194,385			190,742			186,344
LHFI	157,612			156,224			154,258			149,708			145,995
Intangible assets including residential MSRs	8,044			8,271			8,394			8,491			8,396
Residential MSRs	1,632			1,860			1,984			2,083			1,987
Consumer and commercial deposits	162,533			159,854			159,921			161,573			159,348
Total shareholders’ equity	26,226			25,209			24,466			23,873			24,275
Preferred stock	2,025			2,025			2,025			2,025			2,025
Period End Balances:
Total assets		$227,368			$222,288			$220,425			$215,543			$211,276
Earning assets	198,510			198,065			196,316			192,497			188,141
LHFI	158,455			156,589			155,233			151,839			147,215
ALLL	1,699			1,681			1,643			1,615			1,623
Consumer and commercial deposits	166,126			159,719			161,092			161,544			159,332
Total shareholders’ equity	26,489			25,862			24,823			24,280			24,139
FINANCIAL RATIOS & OTHER DATA
Return on average total assets	1.10		%	1.25		%	1.08		%	1.23		%	1.44		%
Return on average common shareholders’ equity	9.83			11.51			10.06			11.54			13.01
Return on average tangible common shareholders’ equity ¹	13.23			15.73			13.91			16.13			18.06
Net interest margin	3.01			3.12			3.22			3.22			3.22
Net interest margin-FTE ¹	3.06			3.16			3.27			3.27			3.27
Efficiency ratio	62.63			64.00			63.97			62.66			60.34
Efficiency ratio-FTE ¹	62.06			63.45			63.35			62.06			59.76
Tangible efficiency ratio-FTE ¹	61.17			62.77			62.70			61.13			58.94
Adjusted tangible efficiency ratio-FTE ¹	59.91			58.99			60.78			58.63			58.94
Effective tax rate	16			13			15			17			11
Basel III capital ratios at period end ²:
CET1	9.33		%	9.19		%	9.09		%	9.21		%	9.60		%
Tier 1 capital	10.38			10.24			10.15			10.30			10.72
Total capital	12.06			11.93			11.85			12.02			12.47
Leverage	9.28			9.25			9.15			9.26			9.66
Total average shareholders’ equity to total average assets	11.67			11.42			11.25			11.21			11.71
Tangible equity to tangible assets ¹	9.19			9.11			8.71			8.65			8.76
Tangible common equity to tangible assets ¹	8.23			8.13			7.71			7.63			7.72
Book value per common share		$54.87			$53.47			$51.15			$49.57			$48.00
Tangible book value per common share ¹	40.58			39.54			37.22			35.73			34.51
Market capitalization	30,549			27,896			26,290			22,541			30,632
Average common shares outstanding:
Diluted	446,962			446,391			446,662			452,957			464,164
Basic	443,960			443,806			443,566			449,404			460,252
Full-time equivalent employees	22,709			22,726			22,626			22,899			22,839
Number of ATMs	2,036			2,024			2,030			2,082			2,053
Full service banking offices	1,149			1,149			1,152			1,218			1,217

See Appendix A for additional information and reconcilements of non-U.S. GAAP performance measures.

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF INCOME



	Three Months Ended				Increase/(Decrease)					Nine Months Ended					Increase/(Decrease)
(Dollars in millions and shares in thousands, except per share data) (Unaudited)	September 30				Increase/(Decrease)					September 30					Increase/(Decrease)
	2019		2018		Amount			% ³		2019			2018		Amount			% ³
Interest income		$2,005		$1,834		$171		9	%		$6,013			$5,261		$752		14	%
Interest expense	495		322		173			54		1,424			821		603			73
NET INTEREST INCOME	1,510		1,512		(2		)	—		4,589			4,440		149			3
Provision for credit losses	132		61		71			NM		412			121		291			NM
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	1,378		1,451		(73		)	(5	)	4,177			4,319		(142		)	(3	)
NONINTEREST INCOME
Service charges on deposit accounts	141		144		(3		)	(2	)	417			433		(16		)	(4	)
Other charges and fees	90		89		1			1		265			264		1			—
Card fees	83		75		8			11		247			241		6			2
Investment banking income	159		150		9			6		431			453		(22		)	(5	)
Trading income	29		42		(13		)	(31	)	144			137		7			5
Mortgage-related income¹	106		83		23			28		294			256		38			15
Trust and investment management income	78		80		(2		)	(3	)	222			230		(8		)	(3	)
Retail investment services	76		74		2			3		220			219		1			—
Insurance settlement	5		—		5			NM		210			—		210			NM
Commercial real estate-related income	32		24		8			33		106			66		40			61
Net securities gains/(losses)	4		—		4			NM		(38		)	1		(39		)	NM
Other noninterest income	40		21		19			90		135			108		27			25
Total noninterest income	843		782		61			8		2,653			2,408		245			10
NONINTEREST EXPENSE
Employee compensation and benefits	841		795		46			6		2,493			2,451		42			2
Outside processing and software	241		234		7			3		720			667		53			8
Net occupancy expense	102		86		16			19		305			270		35			13
Charitable contribution to SunTrust Foundation	—		—		—			—		205			—		205			NM
Marketing and customer development	44		45		(1		)	(2	)	131			127		4			3
Equipment expense	36		40		(4		)	(10	)	114			124		(10		)	(8	)
Merger-related costs	22		—		22			NM		75			—		75			NM
Operating losses	23		18		5			28		60			40		20			50
Amortization	21		19		2			11		54			51		3			6
Regulatory assessments	17		39		(22		)	(56	)	53			118		(65		)	(55	)
Other noninterest expense	127		108		19			18		392			343		49			14
Total noninterest expense	1,474		1,384		90			7		4,602			4,191		411			10
INCOME BEFORE PROVISION FOR INCOME TAXES	747		849		(102		)	(12	)	2,228			2,536		(308		)	(12	)
Provision for income taxes	122		95		27			28		330			412		(82		)	(20	)
NET INCOME INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	625		754		(129		)	(17	)	1,898			2,124		(226		)	(11	)
Less: Net income attributable to noncontrolling interest	2		2		—			—		7			7		—			—
NET INCOME		$623		$752		($129	)	(17	)%		$1,891			$2,117		($226	)	(11	)%
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS		$597		$726		($129	)	(18	)%		$1,814			$2,036		($222	)	(11	)%
Net interest income-FTE ²	1,532		1,534		(2		)	—		4,655			4,505		150			3
Total revenue	2,353		2,294		59			3		7,242			6,848		394			6
Total revenue-FTE ²	2,375		2,316		59			3		7,308			6,913		395			6
Net income per average common share:
Diluted	1.34		1.56		(0.22		)	(14	)	4.06			4.34		(0.28		)	(6	)
Basic	1.35		1.58		(0.23		)	(15	)	4.09			4.38		(0.29		)	(7	)
Dividends declared per common share	0.56		0.50		0.06			12		1.56			1.30		0.26			20
Average common shares outstanding:
Diluted	446,962		464,164		(17,202		)	(4	)	446,673			469,006		(22,333		)	(5	)
Basic	443,960		460,252		(16,292		)	(4	)	443,779			464,804		(21,025		)	(5	)

¹ Beginning with the Company's Annual Report on Form 10-K for the year ended December 31, 2018, the Company began presenting Mortgage production related income and Mortgage servicing related income as a single line item on the Consolidated Statements of Income titled Mortgage related income. Prior periods have been conformed with this updated presentation for comparability.

²See Appendix A for additional information and reconcilements of non-U.S. GAAP measures to the related U.S.GAAP measures.

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



	Three Months Ended										Three Months Ended
(Dollars in millions and shares in thousands, except per share data) (Unaudited)	September 30		June 30			(Decrease)/Increase					March 31		December 31		September 30
	2019		2019			Amount			% ³		2019		2018		2018
Interest income		$2,005		$2,021			($16	)	(1	)%		$1,987		$1,944		$1,834
Interest expense	495		486			9			2		443		397		322
NET INTEREST INCOME	1,510		1,535			(25		)	(2	)	1,544		1,547		1,512
Provision for credit losses	132		127			5			4		153		87		61
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	1,378		1,408			(30		)	(2	)	1,391		1,460		1,451
NONINTEREST INCOME
Service charges on deposit accounts	141		139			2			1		137		146		144
Other charges and fees	90		88			2			2		87		92		89
Card fees	83		82			1			1		82		83		75
Investment banking income	159		142			17			12		130		146		150
Trading income	29		55			(26		)	(47	)	60		24		42
Mortgage-related income ¹	106		86			20			23		100		85		83
Trust and investment management income	78		73			5			7		71		74		80
Retail investment services	76		75			1			1		69		74		74
Insurance settlement	5		205			(200		)	(98	)	—		—		—
Commercial real estate-related income	32		50			(18		)	(36	)	24		68		24
Net securities gains/(losses)	4		(42		)	46			NM		—		—		—
Other noninterest income	40		72			(32		)	(44	)	24		26		21
Total noninterest income	843		1,025			(182		)	(18	)	784		818		782
NONINTEREST EXPENSE
Employee compensation and benefits	841		828			13			2		824		857		795
Outside processing and software	241		241			—			—		238		242		234
Net occupancy expense	102		102			—			—		102		102		86
Charitable contribution to SunTrust Foundation	—		205			(205		)	(100	)	—		—		—
Marketing and customer development	44		46			(2		)	(4	)	41		49		45
Equipment expense	36		36			—			—		42		42		40
Merger-related costs	22		8			14			NM		45		—		—
Operating losses	23		14			9			64		22		39		18
Amortization	21		17			4			24		15		22		19
Regulatory assessments	17		17			—			—		19		7		39
Other noninterest expense	127		124			3			2		141		122		108
Total noninterest expense	1,474		1,638			(164		)	(10	)	1,489		1,482		1,384
INCOME BEFORE PROVISION FOR INCOME TAXES	747		795			(48		)	(6	)	686		796		849
Provision for income taxes	122		105			17			16		104		136		95
NET INCOME INCLUDING INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	625		690			(65		)	(9	)	582		660		754
Less: Net income attributable to noncontrolling interest	2		2			—			—		2		2		2
NET INCOME		$623		$688			($65	)	(9	)%		$580		$658		$752
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS		$597		$663			($66	)	(10	)%		$554		$632		$726
Net interest income-FTE ²	1,532		1,557			(25		)	(2	)	1,567		1,570		1,534
Total revenue	2,353		2,560			(207		)	(8	)	2,328		2,365		2,294
Total revenue-FTE ²	2,375		2,582			(207		)	(8	)	2,351		2,388		2,316
Net income per average common share:
Diluted	1.34		1.48			(0.14		)	(9	)	1.24		1.40		1.56
Basic	1.35		1.49			(0.14		)	(9	)	1.25		1.41		1.58
Dividends declared per common share	0.56		0.50			0.06			12		0.50		0.50		0.50
Average common shares outstanding:
Diluted	446,962		446,391			571			—		446,662		452,957		464,164
Basic	443,960		443,806			154			—		443,566		449,404		460,252

² See Appendix A for additional information and reconcilements of non-U.S. GAAP measures to the related U.S.GAAP measures.

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

SunTrust Banks, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS



	September 30						Increase/(Decrease)
(Dollars in millions and shares in thousands, except per share data) (Unaudited)	2019			2018			Amount			%
ASSETS
Cash and due from banks		$7,844			$6,206			$1,638		26	%
Federal funds sold and securities borrowed or purchased under agreements to resell	1,314			1,374			(60		)	(4	)
Interest-bearing deposits in other banks	26			25			1			4
Trading assets and derivative instruments	7,104			5,676			1,428			25
Securities available for sale ("securities AFS")	31,358			30,984			374			1
Loans held for sale ("LHFS")	2,006			1,961			45			2
Loans held for investment ("LHFI"):
Commercial and industrial ("C&I")	73,374			68,203			5,171			8
Commercial real estate ("CRE")	9,491			6,618			2,873			43
Commercial construction	2,142			3,137			(995		)	(32	)
Residential mortgages - guaranteed	457			452			5			1
Residential mortgages - nonguaranteed	28,810			28,187			623			2
Residential home equity products	8,696			9,669			(973		)	(10	)
Residential construction	144			197			(53		)	(27	)
Consumer student - guaranteed	7,146			7,039			107			2
Consumer other direct	12,431			10,100			2,331			23
Consumer indirect	14,060			12,010			2,050			17
Consumer credit cards	1,704			1,603			101			6
Total LHFI	158,455			147,215			11,240			8
Allowance for loan and lease losses ("ALLL")	(1,699		)	(1,623		)	76			5
Net LHFI	156,756			145,592			11,164			8
Goodwill	6,331			6,331			—			—
Residential MSRs	1,564			2,062			(498		)	(24	)
Other assets	13,065			11,065			2,000			18
Total assets ¹		$227,368			$211,276			$16,092		8	%
LIABILITIES
Deposits:
Noninterest-bearing consumer and commercial deposits		$40,360			$41,870			($1,510	)	(4	)%
Interest-bearing consumer and commercial deposits:
NOW accounts	54,043			45,745			8,298			18
Money market accounts	48,554			49,960			(1,406		)	(3	)
Savings	6,443			6,591			(148		)	(2	)
Consumer time	7,233			6,499			734			11
Other time	9,493			8,667			826			10
Total consumer and commercial deposits	166,126			159,332			6,794			4
Brokered time deposits	1,545			1,046			499			48
Total deposits	167,671			160,378			7,293			5
Funds purchased	254			3,354			(3,100		)	(92	)
Securities sold under agreements to repurchase	1,829			1,730			99			6
Other short-term borrowings	5,061			2,856			2,205			77
Long-term debt	20,369			14,289			6,080			43
Trading liabilities and derivative instruments	1,380			1,863			(483		)	(26	)
Other liabilities	4,315			2,667			1,648			62
Total liabilities	200,879			187,137			13,742			7
SHAREHOLDERS' EQUITY
Preferred stock, no par value	2,025			2,025			—			—
Common stock, $1.00 par value	553			553			—			—
Additional paid-in capital	8,989			9,001			(12		)	—
Retained earnings	20,664			19,111			1,553			8
Treasury stock, at cost, and other	(5,593		)	(4,677		)	916			20
Accumulated other comprehensive loss, net of tax	(149		)	(1,874		)	(1,725		)	(92	)
Total shareholders' equity	26,489			24,139			2,350			10
Total liabilities and shareholders' equity		$227,368			$211,276			$16,092		8	%

Common shares outstanding	444,033			458,626			(14,593		)	(3	)%
Common shares authorized	750,000			750,000			—			—
Preferred shares outstanding	20			20			—			—
Preferred shares authorized	50,000			50,000			—			—
Treasury shares of common stock	108,750			94,038			14,712			16

¹Includes earning assets of $198,510 and $188,141 at September 30, 2019 and 2018, respectively.

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
	2019			2019			Amount			% ²		2019			2018			2018
ASSETS
Cash and due from banks		$7,844			$3,752			$4,092		NM			$4,521			$5,791			$6,206
Federal funds sold and securities borrowed or purchased under agreements to resell	1,314			1,251			63			5		1,386			1,679			1,374
Interest-bearing deposits in other banks	26			25			1			4		25			25			25
Trading assets and derivative instruments	7,104			6,610			494			7		6,259			5,506			5,676
Securities AFS	31,358			32,487			(1,129		)	(3	)	31,853			31,442			30,984
LHFS	2,006			2,229			(223		)	(10	)	1,781			1,468			1,961
LHFI:
C&I	73,374			72,971			403			1		73,278			71,137			68,203
CRE	9,491			8,655			836			10		7,889			7,265			6,618
Commercial construction	2,142			2,365			(223		)	(9	)	2,562			2,538			3,137
Residential mortgages - guaranteed	457			439			18			4		467			459			452
Residential mortgages - nonguaranteed	28,810			28,794			16			—		28,461			28,836			28,187
Residential home equity products	8,696			8,902			(206		)	(2	)	9,167			9,468			9,669
Residential construction	144			156			(12		)	(8	)	167			184			197
Consumer student - guaranteed	7,146			7,202			(56		)	(1	)	7,308			7,229			7,039
Consumer other direct	12,431			11,817			614			5		11,029			10,615			10,100
Consumer indirect	14,060			13,598			462			3		13,268			12,419			12,010
Consumer credit cards	1,704			1,690			14			1		1,637			1,689			1,603
Total LHFI	158,455			156,589			1,866			1		155,233			151,839			147,215
ALLL	(1,699		)	(1,681		)	18			1		(1,643		)	(1,615		)	(1,623		)
Net LHFI	156,756			154,908			1,848			1		153,590			150,224			145,592
Goodwill	6,331			6,331			—			—		6,331			6,331			6,331
Residential MSRs	1,564			1,717			(153		)	(9	)	1,883			1,983			2,062
Other assets	13,065			12,978			87			1		12,796			11,094			11,065
Total assets ¹		$227,368			$222,288			$5,080		2	%		$220,425			$215,543			$211,276
LIABILITIES
Deposits:
Noninterest-bearing consumer and commercial deposits		$40,360			$39,850			$510		1	%		$40,345			$40,770			$41,870
Interest-bearing consumer and commercial deposits:
NOW accounts	54,043			49,994			4,049			8		48,964			49,031			45,745
Money market accounts	48,554			46,465			2,089			4		48,855			49,868			49,960
Savings	6,443			6,678			(235		)	(4	)	6,820			6,520			6,591
Consumer time	7,233			7,194			39			1		6,902			6,583			6,499
Other time	9,493			9,538			(45		)	—		9,206			8,772			8,667
Total consumer and commercial deposits	166,126			159,719			6,407			4		161,092			161,544			159,332
Brokered time deposits	1,545			1,413			132			9		1,060			1,045			1,046
Total deposits	167,671			161,132			6,539			4		162,152			162,589			160,378
Funds purchased	254			314			(60		)	(19	)	1,169			2,141			3,354
Securities sold under agreements to repurchase	1,829			1,814			15			1		1,962			1,774			1,730
Other short-term borrowings	5,061			7,396			(2,335		)	(32	)	7,259			4,857			2,856
Long-term debt	20,369			20,200			169			1		17,395			15,072			14,289
Trading liabilities and derivative instruments	1,380			1,294			86			7		1,609			1,604			1,863
Other liabilities	4,315			4,276			39			1		4,056			3,226			2,667
Total liabilities	200,879			196,426			4,453			2		195,602			191,263			187,137
SHAREHOLDERS’ EQUITY
Preferred stock, no par value	2,025			2,025			—			—		2,025			2,025			2,025
Common stock, $1.00 par value	553			553			—			—		553			553			553
Additional paid-in capital	8,989			8,965			24			—		8,938			9,022			9,001
Retained earnings	20,664			20,319			345			2		19,882			19,522			19,111
Treasury stock, at cost, and other	(5,593		)	(5,599		)	(6		)	—		(5,609		)	(5,422		)	(4,677		)
Accumulated other comprehensive loss, net of tax	(149		)	(401		)	(252		)	(63	)	(966		)	(1,420		)	(1,874		)
Total shareholders’ equity	26,489			25,862			627			2		24,823			24,280			24,139
Total liabilities and shareholders’ equity		$227,368			$222,288			$5,080		2	%		$220,425			$215,543			$211,276

Common shares outstanding	444,033			443,858			175			—	%	443,713			446,888			458,626
Common shares authorized	750,000			750,000			—			—		750,000			750,000			750,000
Preferred shares outstanding	20			20			—			—		20			20			20
Preferred shares authorized	50,000			50,000			—			—		50,000			50,000			50,000
Treasury shares of common stock	108,750			108,926			(176		)	—		109,071			105,896			94,038

¹Includes earning assets of $198,510, $198,065, $196,316, $192,497, and $188,141 at September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018, and September 30, 2018, 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, INCOME/EXPENSE, AND AVERAGE YIELDS EARNED/RATES PAID
	Three Months Ended														(Decrease)/Increase From
	September 30, 2019							June 30, 2019							Sequential Quarter					Prior Year Quarter
(Dollars in millions) (Unaudited)	Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Yields/ Rates		Average Balances			Yields/ Rates
ASSETS
Loans held for investment ("LHFI"): ¹
Commercial and industrial ("C&I")		$73,121			$703	3.82	%		$73,287			$734	4.01	%		($166	)	(0.19	)		$5,489		(0.05	)
Commercial real estate ("CRE")	9,005			96		4.23		8,308			92		4.46		697			(0.23	)	2,587			0.04
Commercial construction	2,225			28		5.03		2,470			33		5.37		(245		)	(0.34	)	(1,075		)	0.27
Residential mortgages - guaranteed	475			4		3.04		462			3		2.96		13			0.08		(27		)	0.28
Residential mortgages - nonguaranteed	28,693			275		3.84		28,353			275		3.88		340			(0.04	)	1,109			(0.05	)
Residential home equity products	8,683			116		5.29		8,918			119		5.33		(235		)	(0.04	)	(949		)	0.32
Residential construction	142			2		4.66		154			2		5.55		(12		)	(0.89	)	(51		)	(0.09	)
Consumer student - guaranteed	7,137			89		4.94		7,254			94		5.19		(117		)	(0.25	)	225			(0.11	)
Consumer other direct	12,074			190		6.24		11,419			176		6.17		655			0.07		2,348			0.75
Consumer indirect	13,831			151		4.33		13,411			141		4.20		420			0.13		2,061			0.47
Consumer credit cards	1,691			51		12.00		1,652			49		11.98		39			0.02		118			0.29
Nonaccrual	535			3		2.55		536			3		2.39		(1		)	0.16		(218		)	(0.15	)
Total LHFI	157,612			1,708		4.30		156,224			1,721		4.42		1,388			(0.12	)	11,617			0.09
Securities available for sale ("securities AFS"):
Taxable	30,862			211		2.73		31,279			219		2.80		(417		)	(0.07	)	(65		)	0.05
Tax-exempt	571			4		2.99		586			4		2.99		(15		)	—		(54		)	—
Total securities AFS	31,433			215		2.73		31,865			223		2.80		(432		)	(0.07	)	(119		)	0.04
Federal funds sold and securities borrowed or purchased under agreements to resell	1,215			7		2.11		1,313			8		2.31		(98		)	(0.20	)	(211		)	0.32
Loans held for sale ("LHFS")	2,297			21		3.75		1,540			15		3.97		757			(0.22	)	275			(0.65	)
Interest-bearing deposits in other banks	26			—		3.65		26			—		3.97		—			(0.32	)	1			(0.25	)
Interest earning trading assets	5,454			45		3.30		5,553			45		3.27		(99		)	0.03		665			0.12
Other earning assets	841			9		4.29		874			9		3.84		(33		)	0.45		306			0.50
Total earning assets	198,878			2,005		4.00		197,395			2,021		4.11		1,483			(0.11	)	12,534			0.10
Allowance for loan and lease losses ("ALLL")	(1,692		)					(1,662		)					(30		)			(27		)
Cash and due from banks	5,218							4,052							1,166					643
Other noninterest earning assets	19,780							19,732							48					1,588
Noninterest earning trading assets and derivative instruments	1,876							1,193							683					1,208
Unrealized gains on securities AFS, net	687							117							570					1,406
Total assets		$224,747							$220,827							$3,920					$17,352
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$50,723			$109	0.85	%		$49,161			$102	0.83	%		$1,562		0.02			$5,378		0.28
Money market accounts	48,121			100		0.82		47,339			90		0.77		782			0.05		(1,805		)	0.24
Savings	6,570			—		0.02		6,738			—		0.02		(168		)	—		(88		)	—
Consumer time	7,228			28		1.51		7,058			25		1.43		170			0.08		815			0.48
Other time	9,602			49		2.01		9,429			47		2.00		173			0.01		1,245			0.46
Total interest-bearing consumer and commercial deposits	122,244			286		0.93		119,725			264		0.89		2,519			0.04		5,545			0.29
Brokered time deposits	1,566			7		1.79		1,123			5		1.68		443			0.11		525			0.25
Foreign deposits	—			—		—		—			—		—		—			—		(172		)	(1.94	)
Total interest-bearing deposits	123,810			293		0.94		120,848			269		0.89		2,962			0.05		5,898			0.29
Funds purchased	371			2		2.12		948			6		2.38		(577		)	(0.26	)	(981		)	0.18
Securities sold under agreements to repurchase	1,801			10		2.09		1,881			11		2.27		(80		)	(0.18	)	163			0.24
Other short-term borrowings	6,182			33		2.13		7,157			41		2.33		(975		)	(0.20	)	3,923			0.56
Long-term debt	20,311			150		2.92		18,996			150		3.16		1,315			(0.24	)	7,389			—
Interest-bearing trading liabilities	1,132			7		2.62		1,304			9		2.88		(172		)	(0.26	)	(101		)	(0.71	)
Total interest-bearing liabilities	153,607			495		1.28		151,134			486		1.29		2,473			(0.01	)	16,291			0.35
Noninterest-bearing deposits	40,289							40,129							160					(2,360		)
Other noninterest-bearing liabilities	4,148							3,994							154					1,683
Noninterest-bearing trading liabilities and derivative instruments	477							361							116					(213		)
Shareholders’ equity	26,226							25,209							1,017					1,951
Total liabilities and shareholders’ equity		$224,747							$220,827							$3,920					$17,352
Interest Rate Spread						2.72	%						2.82	%				(0.10	)				(0.25	)
Net Interest Income					$1,510							$1,535
Net Interest Income-FTE ²					$1,532							$1,557
Net Interest Margin ³						3.01	%						3.12	%				(0.11	)				(0.21	)
Net Interest Margin-FTE ^{2, 3}						3.06							3.16					(0.10	)				(0.21	)

¹Interest income includes loan fees of $31 million and $34 million for the three months ended September 30, 2019 and June 30, 2019, respectively.

² See Appendix A for additional information and reconcilements of non-U.S. GAAP performance measures. Approximately 95% of the total FTE adjustment for both the three months ended September 30, 2019 and June 30, 2019 was attributed to C&I loans.

³Net interest margin is calculated by dividing annualized Net interest income by average Total earning assets.



SunTrust Banks, Inc. and Subsidiaries CONSOLIDATED DAILY AVERAGE BALANCES, INCOME/EXPENSE, AND AVERAGE YIELDS EARNED/RATES PAID, continued
	Three Months Ended
	March 31, 2019							December 31, 2018							September 30, 2018
(Dollars in millions) (Unaudited)	Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates
ASSETS
LHFI: ¹
C&I		$72,450			$730	4.08	%		$69,446			$695	3.97	%		$67,632			$659	3.87	%
CRE	7,611			85		4.52		7,030			77		4.33		6,418			68		4.19
Commercial construction	2,559			33		5.31		2,964			38		5.10		3,300			40		4.76
Residential mortgages - guaranteed	481			4		2.91		476			4		3.04		502			3		2.76
Residential mortgages - nonguaranteed	28,588			282		3.95		28,268			278		3.93		27,584			268		3.89
Residential home equity products	9,180			120		5.31		9,421			122		5.14		9,632			121		4.97
Residential construction	164			2		5.24		180			1		3.34		193			2		4.75
Consumer student - guaranteed	7,258			94		5.25		7,114			93		5.18		6,912			88		5.05
Consumer other direct	10,792			160		6.01		10,363			150		5.76		9,726			135		5.49
Consumer indirect	12,984			134		4.18		12,165			125		4.08		11,770			114		3.86
Consumer credit cards	1,647			49		11.90		1,625			48		11.78		1,573			46		11.71
Nonaccrual	544			4		3.13		656			4		2.32		753			5		2.70
Total LHFI	154,258			1,697		4.46		149,708			1,635		4.33		145,995			1,549		4.21
Securities AFS:
Taxable	31,268			217		2.78		31,197			216		2.77		30,927			207		2.68
Tax-exempt	598			4		2.99		612			5		2.99		625			5		2.99
Total securities AFS	31,866			221		2.77		31,809			221		2.78		31,552			212		2.69
Federal funds sold and securities borrowed or purchased under agreements to resell	1,271			7		2.28		1,514			8		2.12		1,426			7		1.79
LHFS	1,211			13		4.41		2,037			34		6.60		2,022			22		4.40
Interest-bearing deposits in other banks	25			—		5.69		25			—		1.38		25			—		3.90
Interest earning trading assets	4,950			43		3.47		5,064			41		3.25		4,789			39		3.18
Other earning assets	804			6		2.95		585			5		3.47		535			5		3.79
Total earning assets	194,385			1,987		4.15		190,742			1,944		4.04		186,344			1,834		3.90
ALLL	(1,638		)					(1,633		)					(1,665		)
Cash and due from banks	4,297							5,256							4,575
Other noninterest earning assets	19,915							18,953							18,192
Noninterest earning trading assets and derivative instruments	821							627							668
Unrealized losses on securities AFS, net	(377		)					(1,011		)					(719		)
Total assets		$217,403							$212,934							$207,395
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$48,282			$89	0.74	%		$47,400			$79	0.66	%		$45,345			$65	0.57	%
Money market accounts	49,187			92		0.76		49,863			87		0.69		49,926			73		0.58
Savings	6,615			—		0.02		6,538			—		0.02		6,658			—		0.02
Consumer time	6,747			21		1.29		6,546			19		1.15		6,413			17		1.03
Other time	9,002			42		1.89		8,892			39		1.73		8,357			33		1.55
Total interest-bearing consumer and commercial deposits	119,833			244		0.83		119,239			224		0.74		116,699			188		0.64
Brokered time deposits	1,054			4		1.60		1,044			4		1.54		1,041			4		1.54
Foreign deposits	197			1		2.51		15			—		2.44		172			1		1.94
Total interest-bearing deposits	121,084			249		0.84		120,298			228		0.75		117,912			193		0.65
Funds purchased	1,473			9		2.40		2,165			12		2.21		1,352			7		1.94
Securities sold under agreements to repurchase	1,605			9		2.25		1,861			10		2.07		1,638			8		1.85
Other short-term borrowings	7,144			42		2.35		2,701			12		1.82		2,259			9		1.57
Long-term debt	15,955			125		3.19		14,898			123		3.29		12,922			95		2.92
Interest-bearing trading liabilities	1,201			9		3.13		1,421			12		3.27		1,233			10		3.33
Total interest-bearing liabilities	148,462			443		1.21		143,344			397		1.10		137,316			322		0.93
Noninterest-bearing deposits	40,088							42,334							42,649
Other noninterest-bearing liabilities	3,976							2,693							2,465
Noninterest-bearing trading liabilities and derivative instruments	411							690							690
Shareholders’ equity	24,466							23,873							24,275
Total liabilities and shareholders’ equity		$217,403							$212,934							$207,395
Interest Rate Spread						2.94	%						2.94	%						2.97	%
Net Interest Income					$1,544							$1,547							$1,512
Net Interest Income-FTE ²					$1,567							$1,570							$1,534
Net Interest Margin ³						3.22	%						3.22	%						3.22	%
Net Interest Margin-FTE ^{2, 3}						3.27							3.27							3.27

¹Interest income includes loan fees of $40 million, $45 million, and $43 million for the three months ended March 31, 2019, December 31, 2018, and September 30, 2018, respectively.

² See Appendix A for additional information and reconcilements of non-U.S. GAAP performance measures. Approximately 95% of the total FTE adjustment for the three months ended March 31, 2019, December 31, 2018, and September 30, 2018 was attributed to C&I loans.

³Net interest margin is calculated by dividing annualized Net interest income by average Total earning assets.



SunTrust Banks, Inc. and Subsidiaries CONSOLIDATED DAILY AVERAGE BALANCES, INCOME/EXPENSE, AND AVERAGE YIELDS EARNED/RATES PAID, continued
	Nine Months Ended
	September 30, 2019							September 30, 2018							Increase/(Decrease)
(Dollars in millions) (Unaudited)	Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Interest Income/ Expense		Yields/ Rates		Average Balances			Yields/ Rates
ASSETS
LHFI: ¹
C&I		$72,955			$2,167	3.97	%		$67,042			$1,880	3.75	%		$5,913		0.22
CRE	8,314			273		4.39		5,787			175		4.04		2,527			0.35
Commercial construction	2,417			95		5.24		3,534			120		4.53		(1,117		)	0.71
Residential mortgages - guaranteed	472			10		2.97		576			13		3.09		(104		)	(0.12	)
Residential mortgages - nonguaranteed	28,545			832		3.89		27,159			780		3.83		1,386			0.06
Residential home equity products	8,925			355		5.31		9,929			356		4.79		(1,004		)	0.52
Residential construction	153			6		5.16		223			8		4.81		(70		)	0.35
Consumer student - guaranteed	7,216			277		5.13		6,778			249		4.91		438			0.22
Consumer other direct	11,433			525		6.14		9,236			365		5.28		2,197			0.86
Consumer indirect	13,412			425		4.24		11,834			330		3.72		1,578			0.52
Consumer credit cards	1,664			149		11.96		1,541			133		11.47		123			0.49
Nonaccrual	538			11		2.69		729			15		2.77		(191		)	(0.08	)
Total LHFI	156,044			5,125		4.39		144,368			4,424		4.10		11,676			0.29
Securities AFS:
Taxable	31,135			646		2.77		30,912			614		2.65		223			0.12
Tax-exempt	585			13		2.99		630			14		2.99		(45		)	—
Total securities AFS	31,720			659		2.77		31,542			628		2.66		178			0.11
Federal funds sold and securities borrowed or purchased under agreements to resell	1,266			22		2.23		1,411			16		1.52		(145		)	0.71
LHFS	1,686			50		3.96		2,055			67		4.35		(369		)	(0.39	)
Interest-bearing deposits in other banks	25			1		4.42		25			1		2.70		—			1.72
Interest earning trading assets	5,321			133		3.34		4,677			110		3.16		644			0.18
Other earning assets	840			23		3.71		529			15		3.75		311			(0.04	)
Total earning assets	196,902			6,013		4.08		184,607			5,261		3.81		12,295			0.27
ALLL	(1,664		)					(1,691		)					27
Cash and due from banks	4,526							4,706							(180		)
Other noninterest earning assets	19,808							17,678							2,130
Noninterest earning trading assets and derivative instruments	1,301							650							651
Unrealized gains/(losses) on securities AFS, net	146							(580		)					726
Total assets		$221,019							$205,370							$15,649
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing deposits:
NOW accounts		$49,398			$299	0.81	%		$45,755			$162	0.47	%		$3,643		0.34
Money market accounts	48,212			282		0.78		50,102			182		0.49		(1,890		)	0.29
Savings	6,641			1		0.02		6,684			1		0.03		(43		)	(0.01	)
Consumer time	7,013			74		1.41		6,261			45		0.95		752			0.46
Other time	9,346			138		1.97		7,680			81		1.41		1,666			0.56
Total interest-bearing consumer and commercial deposits	120,610			794		0.88		116,482			471		0.54		4,128			0.34
Brokered time deposits	1,249			16		1.71		1,026			11		1.45		223			0.26
Foreign deposits	65			1		2.41		121			2		1.85		(56		)	0.56
Total interest-bearing deposits	121,924			811		0.89		117,629			484		0.55		4,295			0.34
Funds purchased	927			17		2.36		1,112			15		1.74		(185		)	0.62
Securities sold under agreements to repurchase	1,763			29		2.21		1,630			20		1.66		133			0.55
Other short-term borrowings	6,824			116		2.28		2,051			22		1.41		4,773			0.87
Long-term debt	18,437			425		3.08		11,635			252		2.89		6,802			0.19
Interest-bearing trading liabilities	1,212			26		2.88		1,219			28		3.11		(7		)	(0.23	)
Total interest-bearing liabilities	151,087			1,424		1.26		135,276			821		0.81		15,811			0.45
Noninterest-bearing deposits	40,169							42,677							(2,508		)
Other noninterest-bearing liabilities	4,039							2,424							1,615
Noninterest-bearing trading liabilities and derivative instruments	417							669							(252		)
Shareholders’ equity	25,307							24,324							983
Total liabilities and shareholders’ equity		$221,019							$205,370							$15,649
Interest Rate Spread						2.82	%						3.00	%				(0.18	)
Net Interest Income					$4,589							$4,440
Net Interest Income-FTE ²					$4,655							$4,505
Net Interest Margin ³						3.12	%						3.22	%				(0.10	)
Net Interest Margin-FTE ^{2, 3}						3.16							3.26					(0.10	)

¹ Interest income includes loan fees of $105 million and $121 million for the nine months ended September 30, 2019 and 2018, respectively.

² See Appendix A for additional information and reconcilements of non-U.S. GAAP performance measures. Approximately 95% of the total FTE adjustment for both the nine months ended September 30, 2019 and 2018 was attributed to C&I loans.

³ Net interest margin is calculated by dividing Net interest income by average Total earning assets.



SunTrust Banks, Inc. and Subsidiaries OTHER FINANCIAL DATA
	Three Months Ended											Nine Months Ended
	September 30						Increase/(Decrease)					September 30						(Decrease)/Increase
(Dollars in millions) (Unaudited)	2019			2018			Amount			% ⁵		2019			2018			Amount			% ⁵
CREDIT DATA
Allowance for credit losses, beginning of period		$1,751			$1,722			$29		2	%		$1,684			$1,814			($130	)	(7	)%
Provision/(benefit) for unfunded commitments	2			—			2			NM		3			(7		)	10			NM
Provision for loan losses:
Commercial	42			36			6			17		208			37			171			NM
Consumer	88			25			63			NM		201			91			110			NM
Total provision for loan losses	130			61			69			NM		409			128			281			NM
Charge-offs:
Commercial	(35		)	(51		)	(16		)	(31	)	(88		)	(95		)	(7		)	(7	)
Consumer	(104		)	(71		)	33			46		(289		)	(234		)	55			24
Total charge-offs	(139		)	(122		)	17			14		(377		)	(329		)	48			15
Recoveries:
Commercial	5			9			(4		)	(44	)	14			19			(5		)	(26	)
Consumer	22			25			(3		)	(12	)	69			70			(1		)	(1	)
Total recoveries	27			34			(7		)	(21	)	83			89			(6		)	(7	)
Net charge-offs	(112		)	(88		)	24			27		(294		)	(240		)	54			23
Other ¹	—			—			—			—		(31		)	—			31			NM
Allowance for credit losses, end of period		$1,771			$1,695			$76		4	%		$1,771			$1,695			$76		4	%
Components:
Allowance for loan and lease losses ("ALLL")													$1,699			$1,623			$76		5	%
Unfunded commitments reserve												72			72			—			—
Allowance for credit losses													$1,771			$1,695			$76		4	%
Net charge-offs to average loans held for investment ("LHFI") (annualized):
Commercial	0.14		%	0.22		%	(0.08		)	(36	)%	0.12		%	0.13		%	(0.01		)	(8	)%
Consumer	0.45			0.27			0.18			67		0.41			0.33			0.08			24
Total net charge-offs to total average LHFI	0.28			0.24			0.04			17		0.25			0.22			0.03			14
Period Ended
Nonaccrual/nonperforming loans ("NPLs"):
Commercial													$351			$299			$52		17	%
Consumer												249			396			(147		)	(37	)
Total nonaccrual/NPLs												600			695			(95		)	(14	)
Other real estate owned ("OREO")												52			52			—			—
Other repossessed assets												8			7			1			14
Nonperforming loans held for sale ("nonperforming LHFS")												1			—			1			NM
Total nonperforming assets ("NPAs")													$661			$754			($93	)	(12	)%
Accruing restructured LHFI													$1,752			$2,327			($575	)	(25	)%
Nonaccruing restructured LHFI ²												163			345			(182		)	(53	)
Accruing LHFI past due > 90 days (guaranteed)												1,341			1,440			(99		)	(7	)
Accruing LHFI past due > 90 days (non-guaranteed)												52			42			10			24
Accruing LHFS past due > 90 days												3			2			1			50
NPLs to period-end LHFI												0.38		%	0.47		%	(0.09		)	(19	)%
NPAs to period-end LHFI plus OREO, other repossessed assets, and nonperforming LHFS												0.42			0.51			(0.09		)	(18	)
ALLL to period-end LHFI ^{3, 4}												1.07			1.10			(0.03		)	(3	)
ALLL to NPLs ^{3, 4}												2.84x			2.35x			0.49x			21

¹Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019.

²Nonaccruing restructured loans are included in total nonaccrual/NPLs.

³This ratio is computed using the ALLL.

⁴Loans measured at fair value were excluded from the calculation as no allowance is recorded for loans measured at fair value. The Company believes that this presentation more appropriately reflects the relationship between the ALLL and loans that attract an allowance.

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



SunTrust Banks, Inc. and Subsidiaries FIVE QUARTER OTHER FINANCIAL DATA
	Three Months Ended											Three Months Ended
	September 30			June 30			Increase/(Decrease)					March 31			December 31			September 30
(Dollars in millions) (Unaudited)	2019			2019			Amount			% ⁵		2019			2018			2018
CREDIT DATA
Allowance for credit losses, beginning of period		$1,751			$1,709			$42		2	%		$1,684			$1,695			$1,722
Provision/(benefit) for unfunded commitments	2			4			(2		)	(50	)	(3		)	(3		)	—
Provision for loan losses:
Commercial	42			82			(40		)	(49	)	84			49			36
Consumer	88			41			47			NM		72			40			25
Total provision for loan losses	130			123			7			6		156			89			61
Charge-offs:
Commercial	(35		)	(20		)	15			75		(33		)	(35		)	(51		)
Consumer	(104		)	(93		)	11			12		(92		)	(88		)	(71		)
Total charge-offs	(139		)	(113		)	26			23		(125		)	(123		)	(122		)
Recoveries:
Commercial	5			4			1			25		5			4			9
Consumer	22			24			(2		)	(8	)	23			22			25
Total recoveries	27			28			(1		)	(4	)	28			26			34
Net charge-offs	(112		)	(85		)	27			32		(97		)	(97		)	(88		)
Other ¹	—			—			—			—		(31		)	—			—
Allowance for credit losses, end of period		$1,771			$1,751			$20		1	%		$1,709			$1,684			$1,695
Components:
ALLL		$1,699			$1,681			$18		1	%		$1,643			$1,615			$1,623
Unfunded commitments reserve	72			70			2			3		66			69			72
Allowance for credit losses		$1,771			$1,751			$20		1	%		$1,709			$1,684			$1,695
Net charge-offs to average LHFI (annualized):
Commercial	0.14		%	0.08		%	0.06			75	%	0.14		%	0.15		%	0.22		%
Consumer	0.45			0.38			0.07			18		0.39			0.37			0.27
Total net charge-offs to total average LHFI	0.28			0.22			0.06			27		0.26			0.26			0.24
Period Ended
Nonaccrual/NPLs:
Commercial		$351			$260			$91		35	%		$199			$159			$299
Consumer	249			276			(27		)	(10	)	323			367			396
Total nonaccrual/NPLs	600			536			64			12		522			526			695
OREO	52			55			(3		)	(5	)	53			54			52
Other repossessed assets	8			7			1			14		9			9			7
Nonperforming LHFS	1			—			1			NM		64			—			—
Total NPAs		$661			$598			$63		11	%		$648			$589			$754
Accruing restructured LHFI		$1,752			$1,787			($35	)	(2	)%		$1,807			$2,339			$2,327
Nonaccruing restructured LHFI ²	163			209			(46		)	(22	)	309			291			345
Accruing LHFI past due > 90 days (guaranteed)	1,341			1,431			(90		)	(6	)	1,601			1,603			1,440
Accruing LHFI past due > 90 days (non-guaranteed)	52			45			7			16		58			49			42
Accruing LHFS past due > 90 days	3			2			1			50		2			1			2
NPLs to period-end LHFI	0.38		%	0.34		%	0.04			12	%	0.34		%	0.35		%	0.47		%
NPAs to period-end LHFI plus OREO, other repossessed assets, and nonperforming LHFS	0.42			0.38			0.04			11		0.42			0.39			0.51
ALLL to period-end LHFI ^{3, 4}	1.07			1.07			—			—		1.06			1.06			1.10
ALLL to NPLs ^{3, 4}	2.84x			3.15x			(0.31x)			(10	)	3.17x			3.10x			2.35x

¹Represents the allowance for restructured loans that were transferred from LHFI to LHFS in the first quarter of 2019 and subsequently sold in the second quarter of 2019.

²Nonaccruing restructured loans are included in total nonaccrual/NPLs.

³This ratio is computed using the ALLL.

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



SunTrust Banks, Inc. and Subsidiaries OTHER FINANCIAL DATA, continued
	Three Months Ended September 30												Nine Months Ended September 30
(Dollars in millions) (Unaudited)	Residential MSRs - Fair Value			Commercial MSRs - Amortized Cost			Other			Total			Residential MSRs - Fair Value			Commercial MSRs - Amortized Cost			Other			Total
OTHER INTANGIBLE ASSETS ROLLFORWARD
Balance, beginning of period		$1,959			$63			$14			$2,036			$1,710			$65			$16			$1,791
Amortization	—			(3		)	—			(3		)	—			(11		)	(2		)	(13		)
Servicing rights originated	100			4			—			104			250			10			—			260
Servicing rights purchased	14			—			—			14			89			—			—			89
Fair value changes due to inputs and assumptions ¹	52			—			—			52			198			—			—			198
Other changes in fair value ²	(62		)	—			—			(62		)	(183		)	—			—			(183		)
Servicing rights sold	(1		)	—			—			(1		)	(2		)	—			—			(2		)
Balance, September 30, 2018		$2,062			$64			$14			$2,140			$2,062			$64			$14			$2,140

Balance, beginning of period		$1,717			$66			$13			$1,796			$1,983			$66			$13			$2,062
Amortization	—			(1		)	(1		)	(2		)	—			(8		)	(1		)	(9		)
Servicing rights originated	98			7			—			105			237			14			—			251
Fair value changes due to inputs and assumptions ¹	(162		)	—			—			(162		)	(439		)	—			—			(439		)
Other changes in fair value ²	(88		)	—			—			(88		)	(215		)	—			—			(215		)
Servicing rights sold	(1		)	—			—			(1		)	(2		)	—			—			(2		)
Balance, September 30, 2019		$1,564			$72			$12			$1,648			$1,564			$72			$12			$1,648

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
(Shares in thousands) (Unaudited)	2019	2019	2019		2018		2018
COMMON SHARES OUTSTANDING ROLLFORWARD
Balance, beginning of period	443,858	443,713	446,888		458,626		465,199
Common shares issued	175	145	1,404		165		471
Repurchases of common stock	—	—	(4,579	)	(11,903	)	(7,044	)
Balance, end of period	444,033	443,858	443,713		446,888		458,626



SunTrust Banks, Inc. and Subsidiaries APPENDIX A TO THE EARNINGS RELEASE - RECONCILEMENT OF NON-U.S. GAAP MEASURES¹

	Three Months Ended															Nine Months Ended
	September 30			June 30			March 31			December 31			September 30			September 30
(Dollars in millions) (Unaudited)	2019			2019			2019			2018			2018			2019			2018
Net interest income		$1,510			$1,535			$1,544			$1,547			$1,512			$4,589			$4,440
Fully taxable-equivalent ("FTE") adjustment	22			22			23			23			22			66			65
Net interest income-FTE ²	1,532			1,557			1,567			1,570			1,534			4,655			4,505
Noninterest income	843			1,025			784			818			782			2,653			2,408
Total revenue-FTE ²		$2,375			$2,582			$2,351			$2,388			$2,316			$7,308			$6,913

Return on average common shareholders’ equity	9.83		%	11.51		%	10.06		%	11.54		%	13.01		%	10.46		%	12.33		%
Impact of removing average intangible assets and related pre-tax amortization, other than residential and commercial MSRs	3.40			4.22			3.85			4.59			5.05			3.81			4.81
Return on average tangible common shareholders' equity ³	13.23		%	15.73		%	13.91		%	16.13		%	18.06		%	14.27		%	17.14		%

Net interest margin	3.01		%	3.12		%	3.22		%	3.22		%	3.22		%	3.12		%	3.22		%
Impact of FTE adjustment	0.05			0.04			0.05			0.05			0.05			0.04			0.04
Net interest margin-FTE ²	3.06		%	3.16		%	3.27		%	3.27		%	3.27		%	3.16		%	3.26		%

Noninterest expense		$1,474			$1,638			$1,489			$1,482			$1,384			$4,602			$4,191
Total revenue	2,353			2,560			2,328			2,365			2,294			7,242			6,848
Efficiency ratio ⁴	62.63		%	64.00		%	63.97		%	62.66		%	60.34		%	63.55		%	61.20		%
Impact of FTE adjustment	(0.57		)	(0.55		)	(0.62		)	(0.60		)	(0.58		)	(0.58		)	(0.58		)
Efficiency ratio-FTE ^{2, 4}	62.06			63.45			63.35			62.06			59.76			62.97			60.62
Impact of excluding amortization related to intangible assets and certain tax credits	(0.89		)	(0.68		)	(0.65		)	(0.93		)	(0.82		)	(0.74		)	(0.73		)
Tangible efficiency ratio-FTE ^{2, 5}	61.17			62.77			62.70			61.13			58.94			62.23			59.89
Impact of excluding unusual or infrequent items	(1.26		)	(3.78		)	(1.92		)	(2.50		)	—			(2.34		)	—
Adjusted tangible efficiency ratio-FTE ^{2, 5, 6}	59.91		%	58.99		%	60.78		%	58.63		%	58.94		%	59.89		%	59.89		%

¹ Certain amounts in this schedule are presented net of applicable income taxes, calculated based on each subsidiary’s federal and state tax rates and are adjusted for any permanent differences.

² The Company presents Net interest income-FTE, Total revenue-FTE, Net interest margin-FTE, Efficiency ratio-FTE, Tangible efficiency ratio-FTE, and Adjusted tangible efficiency ratio-FTE 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 using a federal tax rate of 21%, as well as state income taxes where applicable to increase tax-exempt interest income to a taxable-equivalent basis. 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-FTE plus Noninterest income.

³ The Company presents Return on average tangible common shareholders' equity, which removes the after-tax impact of purchase accounting intangible assets from average common shareholders' equity and removes related intangible asset amortization from Net income available to common shareholders. The Company believes this measure is useful to investors because, by removing the amount of intangible assets and related pre-tax amortization expense (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. The Company also believes that removing these items provides a more relevant measure of the return on the Company's common shareholders' equity. This measure is utilized by management to assess the profitability of the Company.

⁴ Efficiency ratio is computed by dividing Noninterest expense by Total revenue. Efficiency ratio-FTE is computed by dividing Noninterest expense by Total revenue-FTE.

⁵ The Company presents Tangible efficiency ratio-FTE and Adjusted tangible efficiency ratio-FTE, which remove the amortization related to intangible assets and certain tax credits from the calculation of Efficiency ratio-FTE. The Company believes these measures are useful to investors because, by removing the impact of amortization (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. These measures are utilized by management to assess the efficiency of the Company and its lines of business.

⁶ The Company presents Adjusted tangible efficiency ratio-FTE, which removes the pre-tax impact of unusual or infrequent items from the calculation of Tangible efficiency ratio-FTE. These unusual or infrequent items include (i) $45 million, $14 million, and $33 million of merger-related impacts recognized in the first, second, and third quarter of 2019, respectively, (ii) $205 million and $5 million of insurance settlement benefits related to financial crisis-era related claims recognized in the second and third quarter of 2019, respectively, (iii) the $205 million charitable contribution to the SunTrust Foundation recognized in the second quarter of 2019, and (iv) the $60 million legacy National Commerce Financial Corporation ("NCF") pension plan settlement charge recognized in the fourth quarter of 2018. The Company believes this measure is useful to investors because it is more reflective of normalized operations as it reflects results that are primarily client relationship and client transaction driven. Removing these items also allows investors to more easily compare the Company's tangible efficiency to other companies in the industry that may not have had similar items impacting their results. Additional detail on the Company's merger agreement with BB&T Corporation and the NCF pension plan settlement charge can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2018.



SunTrust Banks, Inc. and Subsidiaries APPENDIX A TO THE EARNINGS RELEASE - RECONCILEMENT OF NON-U.S. GAAP MEASURES, continued¹

	September 30			June 30			March 31			December 31			September 30
(Dollars in millions, except per share data) (Unaudited)	2019			2019			2019			2018			2018
Total shareholders' equity		$26,489			$25,862			$24,823			$24,280			$24,139
Goodwill, net of deferred taxes of $163 million, $163 million, $162 million, $160 million, and $160 million, respectively	(6,168		)	(6,168		)	(6,169		)	(6,171		)	(6,171		)
Other intangible assets (including residential and commercial MSRs)	(1,648		)	(1,796		)	(1,963		)	(2,062		)	(2,140		)
Residential and commercial MSRs	1,636			1,783			1,949			2,049			2,126
Tangible equity ²	20,309			19,681			18,640			18,096			17,954
Noncontrolling interest	(101		)	(103		)	(101		)	(103		)	(101		)
Preferred stock	(2,025		)	(2,025		)	(2,025		)	(2,025		)	(2,025		)
Tangible common equity ²		$18,183			$17,553			$16,514			$15,968			$15,828

Total assets		$227,368			$222,288			$220,425			$215,543			$211,276
Goodwill	(6,331		)	(6,331		)	(6,331		)	(6,331		)	(6,331		)
Other intangible assets (including residential and commercial MSRs)	(1,648		)	(1,796		)	(1,963		)	(2,062		)	(2,140		)
Residential and commercial MSRs	1,636			1,783			1,949			2,049			2,126
Tangible assets		$221,025			$215,944			$214,080			$209,199			$204,931
Tangible equity to tangible assets ²	9.19		%	9.11		%	8.71		%	8.65		%	8.76		%
Tangible common equity to tangible assets ²	8.23			8.13			7.71			7.63			7.72
Tangible book value per common share ³		$40.58			$39.54			$37.22			$35.73			$34.51

¹ Certain amounts in this schedule are presented net of applicable income taxes, calculated based on each subsidiary’s federal and state tax rates and are adjusted for any permanent differences.

² The Company presents certain capital information on a tangible basis, including Tangible equity, Tangible common equity, the ratio of Tangible equity to tangible assets, and the ratio of Tangible common equity to tangible assets, which remove the after-tax impact of purchase accounting intangible assets from shareholders' equity. The Company believes these measures are useful to investors because, by removing the amount 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. These measures are used by management to analyze capital adequacy and these measures are more consistent with regulatory capital definitions and calculations.

³ The Company presents Tangible book value per common share, which excludes the after-tax impact of purchase accounting intangible assets and also excludes Noncontrolling interest and Preferred stock from shareholders' equity. The Company believes this measure is useful to investors because, by removing the amount of intangible assets, noncontrolling interest, and preferred stock (the levels of which may vary from company to company), it allows investors to more easily compare the Company’s book value of common stock to other companies in the industry.



SunTrust Banks, Inc. and Subsidiaries CONSUMER BUSINESS SEGMENT
	Three Months Ended								Nine Months Ended
	September 30								September 30
(Dollars in millions) (Unaudited)	2019			2018			% Change ⁴		2019			2018			% Change
Statements of Income:
Net interest income		$1,068			$1,056		1	%		$3,222			$3,087		4	%
FTE adjustment	—			—			—		—			—			—
Net interest income-FTE ¹	1,068			1,056			1		3,222			3,087			4
Provision for credit losses ²	77			36			NM		204			102			100
Net interest income-FTE - after provision for credit losses¹	991			1,020			(3	)	3,018			2,985			1
Noninterest income before net securities gains/(losses)	479			444			8		1,415			1,347			5
Net securities gains/(losses)	—			—			—		—			—			—
Total noninterest income	479			444			8		1,415			1,347			5
Noninterest expense before amortization	1,025			991			3		3,028			2,983			2
Amortization	—			—			—		1			1			—
Total noninterest expense	1,025			991			3		3,029			2,984			2
Income-FTE - before provision for income taxes ¹	445			473			(6	)	1,404			1,348			4
Provision for income taxes	102			108			(6	)	321			305			5
Tax credit adjustment	—			—			—		—			—			—
FTE adjustment	—			—			—		—			—			—
Net income including income attributable to noncontrolling interest	343			365			(6	)	1,083			1,043			4
Less: Net income attributable to noncontrolling interest	—			—			—		—			—			—
Net income		$343			$365		(6	)%		$1,083			$1,043		4	%

Total revenue		$1,547			$1,500		3	%		$4,637			$4,434		5	%
Total revenue-FTE ¹	1,547			1,500			3		4,637			4,434			5

Selected Average Balances:
Total LHFI		$80,414			$75,234		7	%		$79,473			$74,907		6	%
Goodwill	4,390			4,390			—		4,390			4,348			1
Other intangible assets excluding residential MSRs	1			2			(50	)	1			3			(67	)
Total assets	90,329			85,933			5		89,026			84,909			5
Consumer and commercial deposits	114,132			111,950			2		113,067			111,008			2

Performance Ratios:
Efficiency ratio	66.30		%	66.03		%			65.32		%	67.32		%
Impact of FTE adjustment	—			—					—			—
Efficiency ratio-FTE ¹	66.30			66.03					65.32			67.32
Impact of excluding amortization and associated funding cost of intangible assets	(1.17		)	(1.15		)			(1.14		)	(1.15		)
Tangible efficiency ratio-FTE ^{1, 3}	65.13		%	64.88		%			64.18		%	66.17		%

Net interest income-FTE, Income-FTE, Total revenue-FTE, Efficiency ratio-FTE, and Tangible efficiency ratio-FTE 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 an FTE basis plus Noninterest income.

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

A Tangible efficiency ratio is presented, which excludes the amortization related to intangible assets and certain tax credits. The Company believes this measure is useful to investors because, by removing the impact of amortization (the level of which may vary from company to company), it allows investors to more easily compare this segment's efficiency to other business segments and companies in the industry. This measure is utilized by management to assess the efficiency of the Company and its lines of business.

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



SunTrust Banks, Inc. and Subsidiaries CONSUMER BUSINESS SEGMENT, continued
	Three Months Ended								Nine Months Ended
	September 30								September 30
(Dollars in millions) (Unaudited)	2019			2018			% Change ¹		2019			2018			% Change
Residential Mortgage Production Data:
Channel mix:
Retail		$2,618			$1,860		41	%		$6,291			$5,853		7	%
Correspondent	4,888			4,281			14		10,094			11,691			(14	)
Total production		$7,506			$6,141		22	%		$16,385			$17,544		(7	)%
Channel mix - percent:
Retail	35		%	30		%			38		%	33		%
Correspondent	65			70					62			67
Total production	100		%	100		%			100		%	100		%
Purchase and refinance mix:
Refinance		$3,263			$1,202		NM			$5,842			$4,303		36	%
Purchase	4,243			4,939			(14	)	10,543			13,241			(20	)
Total production		$7,506			$6,141		22	%		$16,385			$17,544		(7	)%
Purchase and refinance mix - percent:
Refinance	43		%	20		%			36		%	25		%
Purchase	57			80					64			75
Total production	100		%	100		%			100		%	100		%
Applications		$9,883			$7,588		30	%		$24,937			$22,915		9	%

Residential Mortgage Servicing Data (End of Period):
Total unpaid principal balance ("UPB") of residential mortgages serviced										$165,558			$170,480		(3	)%
Total UPB of residential mortgages serviced for others									135,029			139,955			(4	)
Net carrying value of residential MSRs									1,564			2,062			(24	)
Ratio of net carrying value of residential MSRs to total UPB of residential mortgages serviced for others									1.158		%	1.473		%

Assets Under Administration (End of Period):
Trust and institutional managed assets										$44,240			$44,647		(1	)%
Retail brokerage managed assets									19,168			17,516			9
Total managed assets									63,408			62,163			2
Non-managed assets									99,328			98,698			1
Total assets under administration										$162,736			$160,861		1	%

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



SunTrust Banks, Inc. and Subsidiaries WHOLESALE BUSINESS SEGMENT
	Three Months Ended								Nine Months Ended
	September 30								September 30
(Dollars in millions) (Unaudited)	2019			2018			% Change ⁴		2019			2018			% Change ⁴
Statements of Income:
Net interest income		$529			$539		(2	)%		$1,607			$1,580		2	%
FTE adjustment	21			22			(5	)	65			63			3
Net interest income-FTE ¹	550			561			(2	)	1,672			1,643			2
Provision for credit losses ²	56			24			NM		208			19			NM
Net interest income-FTE - after provision for credit losses ¹	494			537			(8	)	1,464			1,624			(10	)
Noninterest income before net securities gains/(losses)	368			368			—		1,137			1,096			4
Net securities gains/(losses)	—			—			—		—			—			—
Total noninterest income	368			368			—		1,137			1,096			4
Noninterest expense before amortization	436			413			6		1,329			1,257			6
Amortization	21			19			11		53			50			6
Total noninterest expense	457			432			6		1,382			1,307			6
Income-FTE - before provision for income taxes ¹	405			473			(14	)	1,219			1,413			(14	)
Provision for income taxes	40			49			(18	)	110			171			(36	)
Tax credit adjustment	35			41			(15	)	114			100			14
FTE adjustment	21			22			(5	)	65			63			3
Net income including income attributable to noncontrolling interest	309			361			(14	)	930			1,079			(14	)
Less: Net income attributable to noncontrolling interest	—			—			—		—			—			—
Net income		$309			$361		(14	)%		$930			$1,079		(14	)%

Total revenue		$897			$907		(1	)%		$2,744			$2,676		3	%
Total revenue-FTE ¹	918			929			(1	)	2,809			2,739			3

Selected Average Balances:
Total LHFI		$77,107			$70,669		9	%		$76,481			$69,375		10	%
Goodwill	1,941			1,941			—		1,941			1,983			(2	)
Other intangible assets excluding residential MSRs	80			75			7		79			76			4
Total assets	93,584			84,909			10		92,046			83,193			11
Consumer and commercial deposits	45,817			44,702			2		44,777			45,247			(1	)

Performance Ratios:
Efficiency ratio	51.10		%	47.62		%			50.33		%	48.81		%
Impact of FTE adjustment	(1.17		)	(1.11		)			(1.16		)	(1.13		)
Efficiency ratio-FTE ¹	49.93			46.51					49.17			47.68
Impact of excluding amortization and associated funding cost of intangible assets	(2.92		)	(2.60		)			(2.52		)	(2.42		)
Tangible efficiency ratio-FTE ^{1, 3}	47.01		%	43.91		%			46.65		%	45.26		%

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



SunTrust Banks, Inc. and Subsidiaries TOTAL CORPORATE OTHER (including Reconciling Items)
	Three Months Ended								Nine Months Ended
	September 30								September 30
(Dollars in millions) (Unaudited)	2019			2018			% Change ⁴		2019			2018			% Change ⁴
Statements of Income:
Net interest income ¹		($87	)		($83	)	(5	)%		($240	)		($227	)	(6	)%
FTE adjustment	1			—			NM		1			2			(50	)
Net interest income-FTE ²	(86		)	(83		)	(4	)	(239		)	(225		)	(6	)
(Benefit)/provision for credit losses ³	(1		)	1			NM		—			—			—
Net interest income-FTE - after (benefit)/provision for credit losses ²	(85		)	(84		)	(1	)	(239		)	(225		)	(6	)
Noninterest income before net securities gains/(losses)	(8		)	(30		)	73		139			(36		)	NM
Net securities gains/(losses)	4			—			NM		(38		)	1			NM
Total noninterest income	(4		)	(30		)	87		101			(35		)	NM
Noninterest expense before amortization	(8		)	(39		)	79		191			(100		)	NM
Amortization	—			—			—		—			—			—
Total noninterest expense	(8		)	(39		)	79		191			(100		)	NM
(Loss)/income-FTE - before (benefit)/provision for income taxes ²	(81		)	(75		)	(8	)	(329		)	(160		)	NM
(Benefit)/provision for income taxes	(20		)	(62		)	68		(101		)	(64		)	(58	)
Tax credit adjustment	(35		)	(41		)	15		(114		)	(100		)	(14	)
FTE adjustment	1			—			NM		1			2			(50	)
Net (loss)/income including income attributable to noncontrolling interest	(27		)	28			NM		(115		)	2			NM
Less: Net income attributable to noncontrolling interest	2			2			—		7			7			—
Net (loss)/income		($29	)		$26		NM			($122	)		($5	)	NM

Total revenue		($91	)		($113	)	19			($139	)		($262	)	47	%
Total revenue-FTE ²	(90		)	(113		)	20		(138		)	(260		)	47

Selected Average Balances:
Total LHFI		$91			$92		(1	)%		$90			$86		5	%
Securities available for sale	31,425			31,541			—		31,711			31,530			1
Goodwill	—			—			—		—			—			—
Other intangible assets excluding residential MSRs	—			1			(100	)	—			—			—
Total assets	40,834			36,553			12		39,947			37,268			7
Consumer and commercial deposits	2,584			2,696			(4	)	2,935			2,904			1

Other Information (End of Period):
Duration of securities available for sale portfolio (in years)									3.4			4.8
Net interest income interest rate sensitivity:
% Change in net interest income under:
Instantaneous 200 basis point increase in rates over next 12 months									0.9		%	2.0		%
Instantaneous 100 basis point increase in rates over next 12 months									0.8		%	1.1		%
Instantaneous 50 basis point decrease in rates over next 12 months									(1.4		)%	(0.8		)%

1Net interest income is driven by matched funds transfer pricing applied for segment reporting and actual Net interest income.

Net interest income-FTE, (Loss)/income-FTE, and Total revenue-FTE 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 an FTE basis plus Noninterest income.

(Benefit)/provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the (benefit)/provision attributable to quarterly changes in the Allowance for loan and lease losses and Unfunded commitments reserve balances.

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



SunTrust Banks, Inc. and Subsidiaries CONSOLIDATED SEGMENT TOTALS
	Three Months Ended								Nine Months Ended
	September 30								September 30
(Dollars in millions) (Unaudited)	2019			2018			% Change ²		2019			2018			% Change ²
Statements of Income:
Net interest income		$1,510			$1,512		—	%		$4,589			$4,440		3	%
FTE adjustment	22			22			—		66			65			2
Net interest income-FTE ¹	1,532			1,534			—		4,655			4,505			3
Provision for credit losses	132			61			NM		412			121			NM
Net interest income-FTE - after provision for credit losses ¹	1,400			1,473			(5	)	4,243			4,384			(3	)
Noninterest income before net securities gains/(losses)	839			782			7		2,691			2,407			12
Net securities gains/(losses)	4			—			NM		(38		)	1			NM
Total noninterest income	843			782			8		2,653			2,408			10
Noninterest expense before amortization	1,453			1,365			6		4,548			4,140			10
Amortization	21			19			11		54			51			6
Total noninterest expense	1,474			1,384			7		4,602			4,191			10
Income-FTE - before provision for income taxes ¹	769			871			(12	)	2,294			2,601			(12	)
Provision for income taxes	122			95			28		330			412			(20	)
Tax credit adjustment	—			—			—		—			—			—
FTE adjustment	22			22			—		66			65			2
Net income including income attributable to noncontrolling interest	625			754			(17	)	1,898			2,124			(11	)
Less: Net income attributable to noncontrolling interest	2			2			—		7			7			—
Net income		$623			$752		(17	)%		$1,891			$2,117		(11	)%

Total revenue		$2,353			$2,294		3	%		$7,242			$6,848		6	%
Total revenue-FTE ¹	2,375			2,316			3		7,308			6,913			6

Selected Average Balances:
Total LHFI		$157,612			$145,995		8	%		$156,044			$144,368		8	%
Goodwill	6,331			6,331			—		6,331			6,331			—
Other intangible assets excluding residential MSRs	81			78			4		80			79			1
Total assets	224,747			207,395			8		221,019			205,370			8
Consumer and commercial deposits	162,533			159,348			2		160,779			159,159			1

Performance Ratios:
Efficiency ratio	62.63		%	60.34		%			63.55		%	61.20		%
Impact of FTE adjustment	(0.57		)	(0.58		)			(0.58		)	(0.58		)
Efficiency ratio-FTE ¹	62.06			59.76					62.97			60.62
Impact of excluding amortization and associated funding cost of intangible assets	(0.89		)	(0.82		)			(0.74		)	(0.73		)
Tangible efficiency ratio-FTE ¹	61.17		%	58.94		%			62.23		%	59.89		%

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

IMPORTANT CAUTIONARY STATEMENT This presentation should be read in conjunction with the financial statements, notes and other information contained in the Company’s 2018 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Non-GAAP Financial Measures This presentation includes non-GAAP financial measures to describe SunTrust’s performance. The reconciliations of those measures to GAAP measures are provided within or in the appendix of this presentation beginning on slide 20. In this presentation, consistent with Securities and Exchange Commission Industry Guide 3, the Company presents total revenue, net interest income, net interest margin, and efficiency ratios on a fully taxable equivalent (“FTE”) and annualized basis. The FTE basis adjusts for the tax-favored status of net interest income from certain loans and investments using applicable federal and state income tax rates to increase tax-exempt interest income to a taxable-equivalent basis. 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-FTE plus noninterest income. The Company presents the following additional non-GAAP measures because many investors find them useful. Specifically: The Company presents certain capital information on a tangible basis, including tangible equity, tangible common equity, tangible book value per share, and return on average tangible common equity. These measures exclude the after-tax impact of purchase accounting intangible assets. The Company believes these measures are 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. These measures are used by management to analyze the capital adequacy and profitability of the Company. Similarly, the Company presents Efficiency ratio-FTE, Tangible efficiency ratio-FTE, Adjusted efficiency ratio-FTE and Adjusted tangible efficiency ratio-FTE. The efficiency ratio is computed by dividing Noninterest expense by Total revenue. Efficiency ratio-FTE is computed by dividing Noninterest expense by Total revenue-FTE. Tangible efficiency ratio-FTE excludes the amortization related to intangible assets and certain tax credits. The Company believes this measure is useful to investors because, by removing the impact of amortization (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. Adjusted efficiency ratio-FTE and adjusted tangible efficiency ratio-FTE remove the impacts of income or expense items that are material and potentially non-recurring from the calculation of Efficiency ratio-FTE and Tangible efficiency ratio-FTE, respectively. The Company believes these measures are useful to investors because they are more reflective of normalized operations as they reflect results that are primarily client relationship and client transaction driven. These measures are utilized by management to assess the efficiency of the Company and its lines of business. The Company presents the Basel III Common Equity Tier 1 (CET1) ratio, on a fully phased-in basis on slide 15. For December 31, 2017 and prior periods, fully-phased-in ratios considered a 250% risk-weighting for MSRs and deduction from capital of certain carryforward DTAs, the overfunded pension asset, and other intangible assets. For March 31, 2018 and later periods, the fully-phased-in ratio considers a 250% risk-weighting for MSRs, as contemplated in the FRB’s ‘Simplifications’ NPR. The Company believes this measure is useful to investors who wish to understand the impact of potential future regulatory requirements. Important Cautionary Note about Forward-Looking Statements This presentation contains forward-looking statements. Statements regarding (i) future levels of net interest margin, deposit costs, efficiency ratios (including after the proposed merger with BB&T), net charge-off ratio and capital ratios, (ii) the benefits and effects of our proposed merger with BB&T, including the future earnings potential of the combined company, the cost synergies to be achieved, the capacity to invest in technology, talent and innovation, the profile and stature of the combined company’s retail and private wealth businesses and the opportunity to deliver our capabilities and differentiated model to a broader set of clients, (iii) future economic conditions, and (iv) the comments our clients are making about the economy 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,” “forecast”, “goals”, “plans,” “targets,” “initiatives,” “opportunity,” “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 on the current beliefs and expectations of management and on information currently available to management. Such statements speak as of the date of this presentation, and we do not assume any obligation to update such 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. 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, 2018 and in other periodic reports that we file with the SEC. Those factors include: failure to complete the merger with BB&T (the “Merger”) could negatively impact our stock price and our future business and financial results; we will be subject to uncertainties while the Merger is pending, which could adversely affect our business; the Merger Agreement may be terminated in accordance with its terms and the Merger may not be completed; because the market price of BB&T Common Stock may fluctuate, our shareholders cannot be certain of the precise value of the merger consideration they may receive in the Merger; our ability to complete the Merger is subject to the receipt of approval from various federal and state regulatory agencies, which may impose conditions that could adversely affect us or cause the Merger to be abandoned; shareholder litigation could prevent or delay the closing of the proposed Merger or otherwise negatively impact our business and operations; current or future legislation or regulation could require us to change our business practices, reduce revenue, impose additional costs, or otherwise adversely affect business operations or competitiveness; we are subject to stringent capital adequacy and liquidity requirements and our failure to meet these would adversely affect our financial condition; the monetary and fiscal policies of the federal government and its agencies could have a material adverse effect on our earnings; our financial results have been, and may continue to be, materially affected by general economic conditions, and a deterioration of economic conditions or of the financial markets may materially adversely affect our lending activity and other businesses, as well as our financial condition and results; changes in market interest rates or capital markets could adversely affect our revenue and expenses, the value of assets and obligations, as well as the availability and cost of capital and liquidity; interest rates on our outstanding and future financial instruments might be subject to change based on regulatory developments, which could adversely affect our revenue, expenses, and the value of those financial instruments; our earnings may be affected by volatility in mortgage production and servicing revenues, and by changes in carrying values of our servicing assets and mortgages held for sale due to changes in interest rates; disruptions in our ability to access global capital markets and other sources of wholesale funding may adversely affect our capital resources and liquidity; we are subject to credit risk; we may have more credit risk and higher credit losses to the extent that our loans are concentrated by loan type, industry segment, borrower type, or location of the borrower or collateral; we rely on the mortgage secondary market and GSEs for some of our liquidity; loss of customer deposits could increase our funding costs; any reduction in our credit rating could increase the cost of our funding from the capital markets; we are subject to litigation, and our expenses related to this litigation may adversely affect our results; we may incur fines, penalties and other negative consequences from regulatory violations, possibly even inadvertent or unintentional violations; we are subject to certain risks related to originating and selling mortgages and may be required to repurchase mortgage loans or indemnify mortgage loan purchasers as a result of breaches of representations and warranties, or borrower fraud, and this could harm our liquidity, results of operations, and financial condition; we face risks as a servicer of loans; consumers and small businesses may decide not to use banks to complete their financial transactions, which could affect our revenue; we have businesses other than banking which subject us to a variety of risks; negative public opinion could damage our reputation and adversely impact business and revenues; we may face more intense scrutiny of our sales, training, and incentive compensation practices; we rely on other companies to provide key components of our business infrastructure; competition in the financial services industry is intense and we could lose business or suffer margin declines as a result; we continually encounter technological change and must effectively develop and implement new technology; maintaining or increasing market share depends on market acceptance and regulatory approval of new products and services; we have in the past and may in the future pursue acquisitions, which could affect costs and from which we may not be able to realize anticipated benefits; we depend on the expertise of key personnel, and if these individuals leave or change their roles without effective replacements, operations may suffer; we may not be able to hire or retain additional qualified personnel and recruiting and compensation costs may increase as a result of changes in the marketplace, both of which may increase costs and reduce profitability and may adversely impact our ability to implement our business strategies; our framework for managing risks may not be effective in mitigating risk and loss to us; our controls and procedures may not prevent or detect all errors or acts of fraud; we are at risk of increased losses from fraud; our operational or communications systems or infrastructure may fail or may be the subject of a breach or cyber-attack that, if successful, could adversely affect our business or disrupt business continuity; a disruption, breach, or failure in the operational systems or infrastructure of our third party vendors or other service providers, including as a result of cyber-attacks, could adversely affect our business; natural disasters and other catastrophic events could have a material adverse impact on our operations or our financial condition and results; the soundness of other financial institutions could adversely affect us; we depend on the accuracy and completeness of information about clients and counterparties; our accounting policies and processes are critical to how we report our financial condition and results of operation, and they require management to make estimates about matters that are uncertain; depressed market values for our stock and adverse economic conditions sustained over a period of time may require us to write down all or some portion of our goodwill; our stock price can be volatile; we might not pay dividends on our stock; our ability to receive dividends from our subsidiaries or other investments could affect our liquidity and ability to pay dividends; and certain banking laws and certain provisions of our articles of incorporation may have an anti-takeover effect. 2

3Q 19 & YTD EPS OVERVIEW1 Quarterly & YoY Trends Merger-Related Impacts $4.23 $1.51 $4.34 $1.56 $1.40 $1.33 $1.48 $4.06 $1.40 $1.34 $1.24 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 YTD 18 YTD 19 Fee Income Strength YTD Efficiency Ratio Asset Quality & Capital Offsets NIM Pressure Stable Remain Strengths • Reported EPS of $1.34 includes ($0.06) of • Continued focus on disciplined expense • NCO ratio: 0.28% | NPL ratio: 0.38% merger-related impacts, excluding this, EPS management → Strong asset quality performance is $1.40 → 3Q 19 reported efficiency ratio: reflects favorable operating → Sequential decline primarily driven by 62.1%; adjusted tangible efficiency environment and consistent $0.07 discrete tax benefit in 2Q 19 ratio: 59.9%3 underwriting discipline • Revenue trends mixed • Solid returns: ROE of 9.8%, ROTCE of • 9.3% Basel III CET1 ratio → Noninterest income up 2%2 13.2%4 → Share repurchases suspended until → Net interest income down 2% proposed merger with BB&T closes 1. All commentary reflects sequential (2Q 19 to 3Q 19) trends, unless otherwise noted. Total revenue, net interest income, efficiency ratio, and tangible efficiency ratio are reported on a fully-taxable equivalent (FTE) basis. Refer to slide 21 of this presentation and page 22 of the earnings press release for GAAP reconciliations 2. Excluding non-core items, refer to slide 5 for further detail 3 3. Refer to slide 20 for GAAP reconciliations 4. Refer to page 22 of the earnings press release for GAAP reconciliations

NET INTEREST INCOME1 Net interest margin impacted by lower rates ($ in millions) Prior Quarter Variance $1,570 $1,567 $1,557 $1,534 $1,532 • Net interest income (FTE) decreased $25 million as strong balance sheet growth was offset by net interest margin pressure 3.27% 3.27% 3.27% • Net interest margin (FTE) down 10 bps, primarily driven by declines in short-term and long-term interest rates (negatively impacted earning asset 3.16% yields) 3.06% $1,547 $1,544 $1,512 $1,535 $1,510 Prior Year Variance • Net interest income (FTE) stable → 8% loan growth and 2% deposit growth helped offset the 21 bp decline in net interest margin (FTE) 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 2 Net Interest Income Net Interest Income (FTE) NIM (FTE) 1. On this slide, net interest income is reported both on an unadjusted and fully taxable-equivalent (“FTE”) basis. The FTE basis adjusts for the tax-favored status of income from certain loans and investments. SunTrust believes this measure to be the preferred industry measurement of net interest income and provides relevant comparison between taxable and non-taxable amounts. Net interest margin (FTE) is calculated as net 4 interest income (FTE) divided by average earning assets (on an annualized basis). Please refer to page 22 of the earnings press release for a reconciliation of net interest margin to net interest margin (FTE) 2. Please refer to slide 20 for a reconciliation of net interest income to net interest income (FTE)

NONINTEREST INCOME Noninterest income up 2% QoQ and 7% YoY (excluding non-core items) ($ in millions) Prior Quarter Variance $1,025 • Excluding non-core items, noninterest income increased $18 million, or 2%, driven by: $205 $843 → $20 million increase in mortgage-related income $5 → $17 million increase in investment banking income → 3Q 19 also included several discrete items: → $10 million net gains related to FinTech equity investments (other noninterest income) $838 $782 $818 $784 $820 → $5 million insurance settlement → $4 million net securities gains → ($14) million impact to counterparty valuation reserves (trading income) • 2Q 19 included $205 million insurance settlement from financial crisis-related claims, used to make a charitable contribution to SunTrust Foundation 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Prior Year Variance Non-core items1 • Excluding non-core items, noninterest income increased $56 million, or 7%, due to broad-based growth; reflects good strategic momentum 5 1. Non-core item refers to $205 million insurance settlement from financial crisis-related claims in 2Q 19 and $5 million residual benefits from the prior quarter insurance settlement in 3Q 19. Please refer to slide 20 for a reconciliation of reported noninterest income to adjusted noninterest income

NONINTEREST EXPENSE Continued focus on disciplined expense management ($ in millions) $1,638 Prior Quarter Variance $1,482 $1,489 $219 $1,474 • Excluding non-core items, expenses increased 2% $60 $45 $33 driven by higher compensation expense and higher operating losses • 3Q 19 includes $33 million of merger-related impacts → $22 million of specific merger-related costs → $11 million of other merger-related expenses (primarily consulting fees in other noninterest expense) $1,384 $1,422 $1,444 $1,419 $1,441 • 2Q 19 included $205 million charitable contribution to SunTrust Foundation (offsetting insurance settlement) Prior Year Variance • Excluding non-core items, expenses increased 4% driven by higher compensation expense 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Non-core items1 6 1. Non-core items refers to $60 million pension settlement charge in 4Q 18, $45 million of merger-related impacts in 1Q 19, $205 million charitable contribution in 2Q 19 (related to a $205 million insurance settlement), $14 million of merger-related impacts in 2Q19, and $33 million of merger-related impacts in 3Q19. Please refer to slide 20 for a reconciliation of reported noninterest expense to adjusted noninterest expense

EFFICIENCY RATIO & TANGIBLE EFFICIENCY RATIO1  YTD efficiency ratio stable despite NIM pressure  Proposed merger of equals with BB&T provides the opportunity to achieve industry- leading profitability 5-Quarter Trends Annual Trends 72.0% 67.4% 61.4% 60.8% 59.8% 59.6% 59.7% 65.6% 63.7% 63.1% 62.6% 61.9% 60.3% 71.5% 60.8% 66.9% 58.9% 58.6% 59.0% 59.9% 65.3% 63.3% 62.6% 62.0% 61.0% 59.6% 3Q 18 4Q 182 1Q 192 2Q 192 3Q 192 2011 20122 20132 20142 2015 2016 20172 2018 2 Efficiency Ratio (FTE) Tangible Efficiency Ratio (FTE) 1. The efficiency ratio and tangible efficiency ratio are reported on fully taxable-equivalent (“FTE”) basis. The FTE basis adjusts net interest income for the tax-favored status of income from certain loans and investments. Unadjusted net interest income can be found on slide 4. Please refer to slide 20 for the reconciliation to the GAAP efficiency ratio 7 2. 2012, 2013, 2014, 2017, 2018, 4Q 18, 1Q 19, 2Q 19, and 3Q 19 values represent the adjusted efficiency ratio and adjusted tangible efficiency ratio. Adjusted figures are intended to provide management and investors information on trends that are more comparable across periods and potentially more comparable across institutions. Please refer to slide 20 for reconciliations related to the GAAP efficiency ratio

CREDIT QUALITY Asset quality continues to be strong ($ in millions) Net Charge-offs Nonperforming Loans . NCO and NPL ratios remain well below historical averages; reflects favorable operating environment and consistent underwriting discipline NCOs Total NCO Ratio (annualized) NPLs Total NPL Ratio $112 $695 $97 $97 $600 $88 $85 $526 $522 $536 0.28% 0.24% 0.26% 0.26% 0.22% 0.47% 0.35% 0.34% 0.34% 0.38% 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Allowance for Loan and Lease Losses (ALLL) Provision for Credit Losses . YoY increase in provision expense driven by 4 bp decline in ALLL ratio in 3Q 18 and higher net charge-offs in 3Q 19 ALLL ALLL Ratio $1,699 $1,681 $153 $1,623 $1,615 $1,643 $127 $132 $87 1.10% $61 1.06% 1.06% 1.07% 1.07% 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 8

BALANCE SHEET ($ in billions) ($ in billions, average balances) Average Performing Loans Average Client Deposits $159.3 $161.6 $159.9 $159.9 $162.5 $155.7 $157.1 $6.5 $6.6 $149.1 $153.7 $6.7 $6.6 $6.7 $145.2 $14.8 $15.4 $15.7 $16.5 $16.8 $32.7 $33.7 $34.7 $30.0 $31.3 $45.3 $47.4 $48.3 $49.2 $50.7 $37.9 $38.0 $37.9 $38.3 $38.4 $42.6 $42.3 $40.1 $40.1 $40.3 $77.4 $79.4 $82.6 $84.1 $84.4 $49.9 $49.9 $49.2 $47.3 $48.1 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Commercial Residential Consumer Money Market DDA (Nonint bearing) NOW Time Savings Prior Quarter Variance Prior Quarter Variance • Average performing loans up 1%, driven by growth in • Average client deposits up 2%, driven by growth in NOW consumer and CRE accounts and money market → Consumer growth driven by LightStream, partnerships, • Interest-bearing client deposit costs up 4 bps and indirect auto → Compares to 2Q 19 increase of 6 bps and 1Q 19 increase → CRE continues to benefit from introduction of new of 9 bps capabilities in 2017 Prior Year Variance Prior Year Variance • Average client deposits up 2%; mix shift towards higher cost • Average performing loans up 8%, driven by growth in C&I, deposits consumer, and CRE, partially offset by declines in commercial construction and home equity • $5.4 billion increase in NOW accounts and $2.1 billion increase in time deposits largely offset by declines 9 Note: Totals may not foot due to rounding in noninterest bearing deposits and money market

CAPITAL POSITION Basel III Common Equity Tier 1 Ratio1 Basel III Tier 1 Capital Ratio1 10.7% 10.3% 10.2% 10.2% 10.4% 9.6% 9.2% 9.1% 9.2% 9.3% 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Book Value / Tangible Book Value Per Share2 $53.47 $54.87 $51.15 $49.57 $48.00 $39.54 $40.58 $37.22 $34.51 $35.73 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Book Value Per Share Tangible Book Value Per Share 10 1. Current quarter amounts are estimated at the time of this presentation and are subject to revision 2. Please refer to slide 21 for the reconciliation of book value per share to tangible book value per share

CONSUMER SEGMENT HIGHLIGHTS %Δ %Δ Key Highlights ($ in millions) 3Q 18 2Q 19 3Q 19 Prior Qtr Prior Yr Net Interest Income $1,056 $1,078 $1,068 (1%) 1% • Strength in mortgage production and continued balance sheet growth drives solid bottom-line Noninterest Income 444 489 479 (2%) 8% results Total Revenue 1,500 1,567 1,547 (1%) 3% → 2Q 19 results included $44 million gain related to Provision for Credit Losses 36 44 77 NM NM the sale of accruing TDR portfolio Noninterest Expense 991 992 1,025 3% 3% → Excluding this, total revenue up 2% sequentially and up 3% YoY Net Income $365 $409 $343 (16%) (6%) Key Statistics ($ in billions) • Balance sheet growth improves the Company’s Total Loans (average) $75.2 $79.3 $80.4 1% 7% overall loan mix and provides attractive funding Client Deposits (average) $112.0 $112.8 $114.1 1% 2% → 7% loan growth driven by investments in digital Managed Assets $62.2 $62.9 $63.4 1% 2% lending (LightStream and point of sale partnerships), indirect auto, and mortgage Full-Service Branches 1,217 1,149 1,149 0% (6%) → Two additional point of sale lending Efficiency Ratio¹ 66.0% 63.3% 66.3% partnerships added in 3Q 19 Tangible Efficiency Ratio¹ 64.9% 62.2% 65.1% → Deposit growth driven by new products and targeted pricing and marketing Mortgage Data: Servicing Portfolio for Others $140.0 $136.8 $135.0 (1%) (4%) Production Volume $6.1 $5.6 $7.5 33% 22% • Creating capacity for investments in digital capabilities Application Volume $7.6 $9.7 $9.9 2% 30% → Branches down 6% → SmartGUIDE (digital mortgage application) adoption: ~90%+ → Strong adoption has augmented capacity for increased production volumes 11 Note: NM = not meaningful 1. Please refer to page 24 of the earnings press release for a reconciliation of efficiency ratio to tangible efficiency ratio

WHOLESALE SEGMENT HIGHLIGHTS %Δ %Δ Key Highlights ($ in millions) 3Q 18 2Q 19 3Q 19 Prior Qtr Prior Yr Net Interest Income (FTE) $561 $559 $550 (2%) (2%) • Underlying strategic momentum remains positive Noninterest Income 368 404 368 (9%) 0% → Strength across most investment banking products and client segments, despite continued Total Revenue (FTE) 929 963 918 (5%) (1%) market volatility Provision for Credit Losses 24 82 56 NM NM → Broad-based success: strong performance Noninterest Expense 432 456 457 0% 6% in syndicated finance, investment grade debt, M&A, equity, and interest rate Net Income $361 $323 $309 (4%) (14%) derivatives Key Statistics ($ in billions) → Revenue from non-CIB clients up 9% YTD Total Loans (average) $70.7 $76.8 $77.1 0% 9% → Commercial real estate-related income up Client Deposits (average) $44.7 $44.1 $45.8 4% 2% 61% YTD (agency lending, structured real estate, SunTrust Community Capital) Efficiency Ratio (FTE)¹ 46.5% 47.4% 49.9% → Strong, broad-based loan growth driven by CIB Tangible Efficiency Ratio (FTE)¹ 43.9% 45.0% 47.0% and key areas of investment including additional CRE capabilities, national expansion of Aging Services vertical, and Commercial Banking expansion markets • Revenue trends impacted by net interest margin compression and $14 million negative impact to counterparty valuation reserves in 3Q 19 (trading income) → Sequential decline also impacted by strong performance from commercial real estate-related income in 2Q 19 • Overall profitability remains accretive to the Company → 3Q 19 tangible efficiency ratio (FTE): 47.0%1 12 Note: NM = not meaningful 1. Please refer to page 26 of the earnings press release for a reconciliation of efficiency ratio to tangible efficiency ratio

Merger of Equals Update Highly Synergistic; Financially Compelling; Transformative 3Q 19 Accomplishments Next Steps  Executive Management (EM) continues to meet weekly to guide . Finalize divestiture process with Department of Justice organizational design and oversee integration process . Receipt of remaining regulatory approvals  July 1: Named next 2 levels of management . First 100 Days as Truist  July 10: BB&T received regulatory approval from North Carolina Commissioner of Banks – Present proposed Truist governance and committee structures to Board for approval  July 16: Announced community benefits plan (legal day 1)  July 24: Held hearing with U.S. House Committee on Financial – Introduce Truist’s purpose, mission, and values Services and continue building culture with all teammates  July 30: Received shareholder approvals for merger and name – Finalize organizational design  September 5: Named additional levels of management – Continue brand development process – ~8,000 teammates and associates have accepted Truist – Begin executing cost and revenue synergy positions; ~75% of Truist leadership roles established opportunities (action plans already in place)  September: Finalized vast majority of key technology ecosystem decisions Continued confidence in achieving ~$1.6bn of cost synergies  September: All ~100 merger workstreams passed legal day 1 (net of investments) readiness testing exercise 13

APPENDIX

5-QUARTER FINANCIAL HIGHLIGHTS 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 EPS (diluted) $1.56 $1.40 $1.24 $1.48 $1.34 Efficiency Ratio (FTE) 59.8% 62.1% 63.4% 63.4% 62.1% Tangible Efficiency Ratio (FTE)1 58.9% 61.1% 62.7% 62.8% 61.2% Adjusted Tangible Efficiency Ratio (FTE)1 58.9% 58.6% 60.8% 59.0% 59.9% Profitability Net Interest Margin (FTE) 3.27% 3.27% 3.27% 3.16% 3.06% Return on Average Assets 1.44% 1.23% 1.08% 1.25% 1.10% Return on Average Common Equity 13.0% 11.5% 10.1% 11.5% 9.8% Return on Average Tangible Common Equity2 18.1% 16.1% 13.9% 15.7% 13.2% Balance Average Performing Loans ($ in billions) $145.2 $149.1 $153.7 $155.7 $157.1 Sheet Average Client Deposits ($ in billions) $159.3 $161.6 $159.9 $159.9 $162.5 NPL Ratio 0.47% 0.35% 0.34% 0.34% 0.38% NCO Ratio 0.24% 0.26% 0.26% 0.22% 0.28% ALLL Ratio 1.10% 1.06% 1.06% 1.07% 1.07% Credit & Basel III Common Equity Tier 1 Ratio (transitional) 9.6% 9.2% 9.1% 9.2% 9.3% Capital Basel III Common Equity Tier 1 Ratio (fully phased-in)3 9.4% 9.2% 9.0% 9.1% 9.2% Book Value Per Share $48.00 $49.57 $51.15 $53.47 $54.87 Tangible Book Value Per Share4 $34.51 $35.73 $37.22 $39.54 $40.58 1. Please refer to slide 20 for the GAAP reconciliations 2. Please refer to page 22 of the earnings press release for GAAP reconciliations 15 3. The fully-phased-in ratio reflects a 250% risk-weighting for MSRs, as contemplated in the regulatory agencies ‘Simplifications’ final rule effective April 1, 2020 4. Please refer to slide 21 for a reconcilement to book value per share

30-89 DAY DELINQUENCIES BY LOAN CLASS ($ in millions) Memo: 3Q 19 LOAN 30-89 Day Accruing Delinquencies 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 BALANCE Commercial & industrial 0.06% 0.09% 0.07% 0.07% 0.08% $73,374 Commercial real estate 0.03% 0.03% 0.02% 0.04% 0.03% $9,491 Commercial construction 0.00% 0.01% 0.06% 0.00% 0.00% $2,141 Total Commercial Loans 0.05% 0.08% 0.06% 0.06% 0.07% $85,007 Residential mortgages – guaranteed - - - - - $457 Residential mortgages – nonguaranteed 0.26% 0.24% 0.17% 0.18% 0.19% $28,810 Home equity products 0.72% 0.66% 0.65% 0.70% 0.70% $8,696 Residential construction 0.48% 1.37% 0.19% 0.63% 0.58% $144 Guaranteed student loans - - - - - $7,147 Other direct 0.38% 0.43% 0.42% 0.42% 0.42% $12,432 Indirect 0.83% 1.01% 0.59% 0.73% 0.74% $14,060 Credit cards 0.95% 1.02% 1.00% 1.03% 1.08% $1,704 Total Consumer Loans¹ 0.48% 0.51% 0.39% 0.44% 0.44% $73,448 Total SunTrust - excl. gov.-guaranteed delinquencies1 0.24% 0.27% 0.21% 0.23% 0.23% $150,852 Impact of excluding gov.-guaranteed delinquencies 0.50% 0.46% 0.43% 0.36% 0.35% $7,603 Total SunTrust - incl. gov.-guaranteed delinquencies2 0.74% 0.73% 0.64% 0.59% 0.58% $158,455 1. Excludes delinquencies on federally guaranteed mortgages and student loans 16 2. Excludes mortgage loans guaranteed by GNMA that SunTrust has the option, but not the obligation, to repurchase Note: Totals may not foot due to rounding

NONPERFORMING LOANS BY LOAN CLASS ($ in millions) Memo: 3Q 19 LOAN Nonperforming Loans 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 BALANCE Commercial & industrial $256 $157 $197 $258 $350 $73,374 Commercial real estate 432221$9,491 Commercial construction - - - - - $2,141 Total Commercial Loans $299 $159 $199 $260 $351 $85,007 Residential mortgages – guaranteed - - - - - $457 Residential mortgages - nonguaranteed 225 204 178 144 125 $28,810 Home equity products 149 138 124 109 100 $8,696 Residential construction 911888$144 Guaranteed student loans - - - - - $7,147 Other direct 7 7 8 10 11 $12,432 Indirect 67555$14,060 Credit cards - - - - - $1,704 Total Consumer Loans $396 $367 $323 $276 $249 $73,448 Total SunTrust $695 $526 $522 $536 $600 $158,455 NPLs / Total Loans 0.47% 0.35% 0.34% 0.34% 0.38% 17 Note: Totals may not foot due to rounding

NET CHARGE-OFF RATIOS BY LOAN CLASS ($ in millions) Memo: 3Q 19 LOAN Net Charge-off Ratio (annualized) 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 BALANCE Commercial & industrial 0.25 % 0.16 % 0.16 % 0.09 % 0.16 % $73,374 Commercial real estate (0.01)% 0.19 % - (0.01)% (0.01)% $9,491 Commercial construction -----$2,141 Total Commercial Loans 0.22 % 0.15 % 0.14 % 0.08 % 0.14 % $85,007 Residential mortgages – guaranteed ----- $457 Residential mortgages – nonguaranteed 0.03 % 0.09 % 0.08 % 0.08 % 0.09 % $28,810 Home equity products (0.01)% 0.09 % 0.03 % (0.05)% 0.04 % $8,696 Residential construction 0.69 % (0.10)% 2.02 % (1.19)% 0.64 % $144 Guaranteed student loans¹ 0.28 % 0.24 % 0.28 % 0.42 % 0.55 % $7,147 Other direct² 0.48 % 0.89 % 0.91 % 0.95 % 1.06 % $12,432 Indirect 0.52 % 0.54 % 0.56 % 0.41 % 0.48 % $14,060 Credit cards 3.13 % 3.17 % 3.64 % 3.75 % 3.67 % $1,704 Total Consumer Loans 0.27 % 0.37 % 0.39 % 0.38 % 0.45 % $73,448 Total SunTrust 0.24 % 0.26 % 0.26 % 0.22 % 0.28 % $158,455 Note: Totals may not foot due to rounding 1. Prior to October 2019, guaranteed student net charge-offs were included in Consumer other direct net charge-offs and now have been separated from consumer other direct loans. Prior periods have been restated. This had no impact to total consolidated net charge-offs. Guaranteed student loans typically have a guarantee of 97% or 98% of principal and accrued interest if the borrower defaults. 2. Beginning in the fourth quarter of 2018, consumer overdraft charge-offs (approximately $10 million per quarter) were moved from C&I loans to consumer other direct. This had no impact to total consolidated net 18 charge-offs. Prior periods were not restated.

NET CHARGE-OFFS BY LOAN CLASS ($ in millions) Memo: 3Q 19 LOAN Net Charge-offs 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 BALANCE Commercial & industrial $42 $28 $28 $16 $30 $73,374 Commercial real estate - 3 - - - $9,491 Commercial construction -----$2,141 Total Commercial Loans $42 $31 $28 $16 $30 $85,007 Residential mortgages – guaranteed ----- $457 Residential mortgages – nonguaranteed 27666$28,810 Home equity products (1) 2 1 (1) 1 $8,696 Residential construction - - 1 - - $144 Guaranteed student loans¹ 5 4 5 8 10 $7,147 Other direct² 11 23 24 27 32 $12,432 Indirect 16 17 17 14 17 $14,060 Credit cards 1313151516$1,704 Total Consumer Loans $46 $66 $69 $69 $82 $73,448 Total SunTrust $88 $97 $97 $85 $112 $158,455 Note: Totals may not foot due to rounding 1. Prior to October 2019, guaranteed student net charge-offs were included in Consumer other direct net charge-offs and now have been separated from consumer other direct loans. Prior periods have been restated. This had no impact to total consolidated net charge-offs. Guaranteed student loans typically have a guarantee of 97% or 98% of principal and accrued interest if the borrower defaults. 2. Beginning in the fourth quarter of 2018, consumer overdraft charge-offs (approximately $10 million per quarter) were moved from C&I loans to consumer other direct. This had no impact to total consolidated net 19 charge-offs. Prior periods were not restated.

RECONCILIATION: ADJUSTED EFFICIENCY RATIO (FTE) & ADJUSTED TANGIBLE EFFICIENCY RATIO (FTE) (in millions) 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 2011 2012 2013 2014 2015 2016 2017 2018 Reported (GAAP) Basis Net Interest Income 1,512 1,547 1,544 1,535 1,510 5,065 5,102 4,853 4,840 4,764 5,221 5,633 5,987 Noninterest Income 782 818 784 1,025 843 3,421 5,373 3,214 3,323 3,268 3,383 3,354 3,226 Revenue 2,294 2,365 2,328 2,560 2,353 8,486 10,475 8,067 8,163 8,032 8,604 8,987 9,213 Noninterest Expense¹ 1,384 1,482 1,489 1,638 1,474 6,194 6,284 5,831 5,543 5,160 5,468 5,764 5,673 Efficiency Ratio 60.3% 62.7% 64.0% 64.0% 62.6% 73.0% 60.0% 72.3% 67.9% 64.2% 63.6% 64.1% 61.6% Reconciliation: Net Interest Income 1,512 1,547 1,544 1,535 1,510 5,065 5,102 4,853 4,840 4,764 5,221 5,633 5,987 FTE Adjustment 22 23 23 22 22 114 123 127 142 142 138 145 88 Net Interest Income-FTE 1,534 1,570 1,567 1,557 1,532 5,179 5,225 4,980 4,982 4,906 5,359 5,778 6,075 Noninterest Income 782 818 784 1,025 843 3,421 5,373 3,214 3,323 3,268 3,383 3,354 3,226 Revenue-FTE 2,316 2,388 2,351 2,582 2,375 8,600 10,598 8,194 8,305 8,174 8,742 9,132 9,301 Efficiency Ratio-FTE 59.8% 62.1% 63.4% 63.4% 62.1% 72.0% 59.3% 71.2% 66.7% 63.1% 62.6% 63.1% 61.0% Adjustment Items (Noninterest Income): 3Q-4Q 12 student / Ginnie Mae loan sale (losses) (92) Securities gain related to the sale of Coca Cola stock 1,938 Pre-tax mortgage repurchase provision related to loans sold to GSEs prior to 2009 (371) GSE mortgage repurchase settlements (63) RidgeWorth sale 105 Premium Assignment Corporation sale 107 Securities & MSR losses in connection with tax reform-related actions (114) Insurance settlements 205 5 Adjusted Noninterest Income 782 818 784 820 838 3,421 3,898 3,277 3,218 3,268 3,383 3,361 3,226 Adjusted Revenue-FTE¹ 2,316 2,388 2,351 2,377 2,370 8,600 9,123 8,257 8,200 8,174 8,742 9,139 9,301 Noninterest Expense¹ 1,384 1,482 1,489 1,638 1,474 6,194 6,284 5,831 5,543 5,160 5,468 5,764 5,673 Adjustment Items (Noninterest Expense): Legacy affordable housing impairment 96 Charitable contribution of KO shares 38 Impact of certain legacy mortgage legal matters 323 324 Mortgage servicing advances allowance increase 96 Efficiency related charges as outlined in 12/4/17 8-K 36 Contribution to communities / teammates in connection with tax-reform 75 Legacy pension settlement charge 60 60 Merger-related impacts 45 14 33 Charitable contribution to SunTrust Foundation 205 Adjusted Noninterest Expense¹ 1,384 1,422 1,444 1,419 1,441 6,194 6,150 5,412 5,219 5,160 5,468 5,653 5,613 Amortization Expense 19 22 15 17 21 43 46 23 25 40 49 75 73 Adjusted Tangible Expenses¹ 1,365 1,400 1,429 1,402 1,420 6,151 6,104 5,389 5,194 5,120 5,419 5,578 5,540 Adjusted Efficiency Ratio-FTE2 59.8% 59.6% 61.4% 59.7% 60.8% 72.0% 67.4% 65.6% 63.7% 63.1% 62.6% 61.9% 60.3% Adjusted Tangible Efficiency Ratio-FTE2 58.9% 58.6% 60.8% 59.0% 59.9% 71.5% 66.9% 65.3% 63.3% 62.6% 62.0% 61.0% 59.6% 1. In accordance with updated GAAP, amortization of affordable housing investments were reclassified and are now presented in provision for income taxes for 2013. Previously, the amortization was presented in other noninterest expense. Adjusted revenue and expenses are provided as they remove certain items that are material and potentially non-recurring. Adjusted figures are intended to provide management and investors information on trends that are more comparable across periods and potentially more comparable across institutions 20 2. Represents adjusted noninterest expense / adjusted revenue–FTE. Adjusted tangible efficiency ratio excludes amortization expense, the impact of which is (0.82%), (0.92%), (0.64%), (0.72%), (0.89%), (0.50%), (0.50%), (0.28%), (0.30%), (0.49%), (0.56%), (0.82%), (0.78%) for 3Q 18, 4Q 18, 1Q 19, 2Q 19, 3Q 19, 2011, 2012, 2013, 2014, 2015, 2016, 2017, and 2018 respectively

RECONCILIATION: OTHER NON-GAAP MEASURES ($ in billions, except per-share data) 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 Total Shareholders' Equity $24.1 $24.3 $24.8 $25.9 $26.5 Goodwill, Net of Deferred Taxes (6.2) (6.2) (6.2) (6.2) (6.2) Other Intangible Assets Including MSRs, Net of Deferred Taxes (2.1) (2.1) (2.0) (1.8) (1.6) MSRs 2.1 2.0 1.9 1.8 1.6 Tangible Equity $18.0 $18.1 $18.6 $19.7 $20.3 Noncontrolling Interest (0.1) (0.1) (0.1) (0.1) (0.1) Preferred Stock (2.0) (2.0) (2.0) (2.0) (2.0) Tangible Common Equity $15.8 $16.0 $16.5 $17.6 $18.2 Total Assets 211.3 215.5 220.4 222.3 227.4 Goodwill (6.3) (6.3) (6.3) (6.3) (6.3) Other Intangible Assets Including MSRs, Net of Deferred Taxes (2.1) (2.1) (2.0) (1.8) (1.6) MSRs 2.1 2.0 1.9 1.8 1.6 Tangible Assets $204.9 $209.2 $214.1 $215.9 $221.0 Book Value Per Common Share $48.00 $49.57 $51.15 $53.47 $54.87 Tangible Book Value Per Common Share $34.51 $35.73 $37.22 $39.54 $40.58 21 Note: Totals may not foot due to rounding