Fixed Income PresentationDecember 10-12, 2008

Mark A. ChancyChief Financial Officer

Jerome LienhardTreasurer

Tim SchmidtHead of Funding

Important Cautionary Statement About Forward-Looking Statements

The following should be read in conjunction with the financial statements, notes and other information contained in the Company’s 2007 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

In this presentation, net interest income and net interest margin are presented on a fully taxable-equivalent (“FTE”) basis, and ratios are presented on an annualized basis. The FTE basis adjusts for the tax-favored status of income from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and provides relevant comparison between taxable and non-taxable amounts.

This presentation may contain forward-looking statements. Statements that do not describe historical or current facts, including statements about expected capital levels, charge-offs, credit results, and beliefs and expectations, are forward-looking statements. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,”“initiatives,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Such statements are based upon the current beliefs and expectations of management and on information currently available to management. Such statements speak as of the date hereof, and we do not assume any obligation to update the statements made herein 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 Exhibit 99.3 to our Current Reports on Form 8-K filed on October 23, 2008 with the Securities and Exchange Commission and available at the Securities and Exchange Commission’s internet site (http://www.sec.gov). Those factors include: difficult market conditions have adversely affected our industry; current levels of market volatility are unprecedented; the soundness of other financial institutions could adversely affect us; there can be no assurance that recently enacted legislation will stabilize the U.S. financial system; the impact on us of recently enacted legislation, in particular the Emergency Economic Stabilization Act of 2008 and its implementing regulations, and actions by the FDIC, cannot be predicted at this time; credit risk; weakness in the economy and in the real estate market, including specific weakness within our geographic footprint, has adversely affected us and may continue to adversely affect us; weakness in the real estate market, including the secondary residential mortgage loan markets, has adversely affected us and may continue to adversely affect us; as a financial services company, adverse changes in general business or economic conditions could have a material adverse effect on our financial condition and results of operations; changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital or liquidity; the fiscal and monetary policies of the federal government and its agencies could have a material adverse effect on our earnings; we may be required to repurchase mortgage loans or indemnify mortgage loan purchasers as a result of breaches of representations and warranties, borrower fraud, or certain borrower defaults, which could harm our liquidity, results of operations and financial condition; clients could pursue alternatives to bank deposits, causing us to lose a relatively inexpensive source of funding; consumers may decide not to use banks to complete their financial transactions, which could affect net income; we have businesses other thanbanking which subject us to a variety of risks; hurricanes and other natural disasters may adversely affect loan portfolios and operations and increase the cost of doing business; negative public opinion could damage our reputation and adversely impact our business and revenues; we rely on other companies to provide key components of our business infrastructure; we rely on our systems, employees and certain counterparties, and certain failures could materially adversely affect our operations; we depend on the accuracy and completeness of information about clients and counterparties; regulation by federal and state agencies could adversely affect our business, revenue and profit margins; competition in the financial services industry is intense and could result in losing business or reducing margins; future legislation could harm our competitive position; maintaining or increasing market share depends on market acceptance and regulatory approval of new products and services; we may not pay dividends on our common stock; our ability to receive dividends from our subsidiaries accounts for most of our revenue and could affect our liquidity and ability to pay dividends; significant legal actions could subject us to substantial uninsured liabilities; recently declining values of residential real estate may increase our credit losses, which would negatively affect our financial results; deteriorating credit quality, particularly in real estate loans, has adversely impacted us and may continue to adversely impact us;disruptions in our ability to access global capital markets may negatively affect our capital resources and liquidity; any reduction in our credit rating could increase the cost of our funding from the capital markets; 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; we may not be able to hire or retain additional qualified personnel and recruiting and compensation costs may increase as a result of turnover, both of which may increase costs and reduce profitability and may adversely impact our ability to implement our business strategy; our accounting policies and methods are key to how we report our financial condition and results of operations, and these require us to make estimates about matters that are uncertain; changes in our accounting policies or in accounting standards could materially affect how we report our financial results and condition; our stock price can be volatile; our disclosure controls and procedures may not prevent or detect all errors or acts of fraud; our financial instruments carried at fair value expose us to certain market risks; our revenues derived from our investment securities may be volatile and subject to a variety of risks; we may enter into transactions with off-balance sheet affiliates or our subsidiaries that could result in current or future gains or losses or the possible consolidation of those entities; and we are subject to market risk associated with our asset management and commercial paper conduit businesses.

3

Investment Thesis

Diversified Franchise

• Meaningful consumer and commercial platforms

• Attractive, diverse geographic profile• Strong market share in core markets• Significant fee-oriented activities

complement spread-based business

• Strengthened capital ratios • Diversified sources of funding; large, stable

deposit base is primary source of liquidity• Diversified credit profile • Aggressively managing risk positions

Strategic Initiatives for Growth

• Improving efficiency and productivity

• Generating momentum with revenue initiatives

• Continuing to optimize balance sheet and business mix

Stable Base of Operations Provides Foundation for Future Growth

Solid Capital Structure and Balance Sheet

4

Diversified Franchise

5

Diversified Franchise

Total Rank By Asset SizeAssets

Rank Company ($BN)

1 JPMorgan Chase & Co. 2,251.52 Citigroup Inc. 2,050.13 Bank of America Corporation 1,831.24 Wachovia Corporation 764.45 Wells Fargo & Company 622.46 State Street Corporation 285.67 Bank of New York Mellon Corporation 267.58 U.S. Bancorp 247.19 SunTrust Banks, Inc. 174.810 Capital One Financial Corporation 154.8

Source SNL Financial. As of 09/30/08.

• Ninth largest US bank by asset size ($174.8 billion as of 9/30/08)

• Long Term Issuer Rating of A+ (Standard & Poor) / A1 (Moody’s) / A+ (Fitch) 1

• Equity market capitalization over $10.5 billion1

• Ranked 9th out of the top ten banks by asset size

1. As of December 9, 2008.

6

Other4%

Florida31%

North Carolina

6%

Tennessee9%

Virginia12%

Georgia32%

Maryland6%

Diversified Franchise

1,774 Branches2

Other6%

Florida33%

North Carolina11%

Tennessee10%

Virginia14%

Georgia18%

Maryland8%

$116 Billion in Deposits3

Attractive, Diverse Geographic Profile

1. Deposit, branches and share data from SNL. Deposits as of Sept. 30, 2008. Demographic information from Claritas. 5 year population growth is 2007-20122. Data from SNL, as of Sept. 30, 2008, includes nontraditional locations 3. Deposit balances as of Sept. 2008 from Company financial statements. State breakdown from SNL as of Sept. 2008

SunTrust Footprint1

- 7.5% projected 5 year population growth vs. 4.6% U.S. average

- Projected household income growth is above the U.S. average

- Ranked top 3 in 18 of top 25 markets, representing 86% of total MSA deposits and average deposit market share of 15%

- 1,774 branches and 2,506 ATMs

7

Diversified Franchise

Retail & Commercial Wholesale Mortgage

Wealth & Investment

Management

Meaningful Consumer and Commercial Platforms

Scope of

Operations

Market Focus

- National

- ~200 Relationship Managers

- Full line of investment banking products and services

- Middle Market: $100MM-$750MM

- Corporate Banking: >$750MM

- Commercial RE: commercial and residential developers & investors

- Investment banking sales to commercial and W&IM clients

- National

- Full array of private wealth management and institutional solutions including personal and institutional investment management

- AUM = $129.5B

- Individuals in need of private wealth mgmt. including banking, trust, brokerage and asset management solutions

- Organizations in need of institutional administrative and investment solutions

- National

- Ranked #9 in total originations in 2Q 20081

- Mortgage servicing portfolio of $159.3B2

- Prime based platform, ~98% of 3Q 2008 originations for sale were agency

- 48% of production through 3Q 2008 was retail originated

1. Inside Mortgage Finance, 09/26/082. As of 9/30/08

- SunTrust footprint

- 1,692 branches

- 2,506 ATMs

- ~800 Relationship Managers

- Retail clients in SunTrust footprint

- Business clients in SunTrust footprint with revenues <$100MM

- Government and not-for-profit enterprises

8

Retail & Commercial

53%

Wholesale16%

Mortgage13%

Wealth & Investment

Management18%

Diversified Franchise

Fee Income

47%Net

InterestIncome

(FTE)53%

Fee Income

32%

Net InterestIncome

(FTE)68%

Total Revenue FTE1 Rising Contribution of Fee Income2

1997

2008 YTD3

1. Excludes Corporate/Other and Reconciling Items, as defined in the Company’s 10-K filing2. Excludes Securities Gains/Losses3. Year to date as of September 30, 2008

Significant Fee-Oriented Activities Complement Spread-Based BusinessSignificant Fee-Oriented Activities Complement Spread-Based Business

2008 YTD3

9

Solid Capital and Balance Sheet

10

Solid Capital and Balance SheetEarning Assets and Funding Sources

1. Includes amount through 11/30/2008 and forecast for 12/2008

Earning Asset Distribution

75.3% 77.4%82.1%

6.8%7.0%

3.4%2.1%

8.4% 5.9%15.8%

7.3% 8.7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2006 2007 2008

Perc

ent o

f Tot

al

Loans LHFS Temporary Investments Investment Securities

Funding Sources

61.7% 64.3% 67.7%

17.5% 14.3% 9.9%

8.6% 7.8% 7.2%

12.3% 13.6% 15.3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2006 2007 2008

Perc

ent o

f Tot

al

Cust Dep incl CDs & IRAs Purchased Deposits ST Borrowings LT Debt

11

Solid Capital and Balance SheetProactively Reducing Risk Profile and Improving Capital Position

4Q072Q071Q07 3Q07

Delevered balance sheet by over $9B in

conjunction with early adoption of SFAS

157/159

Reduced securitization exposure (CLO, SBA,

CDO and RMBS)to $142MM from

$1B at 3Q07

Sold 9% of Coke holdings; announced review of remaining

Coke position

1Q08

54% ($1.9B) reduction in

higher risk trading assets

2Q08 3Q08

Sold 10MMshares of Coke and improved

Tier 1 ratio 20 bps

Additional 53% reduction in higher risk trading assets leaves

$768MM

30MM Coke share Tier 1 transaction complete

3.6MM Coke share

charitable contribution

Sale of $4.9 billion in

preferred stock and related

warrants to the U.S. Treasury

30% reduction in

common stock

dividend

4Q08

12

Strengthened Capital Ratios

• Reduced higher risk trading assets over 90% from $3.5BN in 4Q07 to under $350MM

• Increased Tier 1 capital ratio by 68 bps via a 30MM share market and structured sale and 3.6MM share charitable contribution of Coca-Cola stock

• Issued $4.9BN of preferred stock and related warrants to the US Treasury, increasing Tier 1 to approximately 11%

• Reduced common stock dividend by 30% in Q4

Significant 2008 Events

6.36%

5.40%

6.32% 6.28%6.53%

6.24%

5.36% 5.39% 5.38%5.51%

5.00%

5.50%

6.00%

6.50%

7.00%

2007Q3 2007Q4 2008Q1 2008Q2 2008Q3

STI TE/TA Peer Avg TE/TA

8.15%

7.47%7.23%

6.93%

7.44%

6.50%

7.00%

7.50%

8.00%

8.50%

2007Q3 2007Q4 2008Q1 2008Q2 2008Q3

STI Tier 1 Ratio

Historic target 7.5%

Source: SNL Financial.Peer group includes: BAC, BBT, FITB, KEY, NCC, PNC, RF, USB, WB, WFC.

Solid Capital and Balance Sheet

13

1. Grand Horn CLO is a AAA-rated security arising from the securitization of a commercial leveraged loan warehouse

Carrying Carrying Acquisition Value Value Value

3Q 2008 2Q 2008 4Q 2007

SIV $ 221 $ 425 $1,478RMBS 43 151 1,042CDO 13 68 429Other ABS 25 31 148CLO - - 47Grand Horn CLO1 44 93 359

($ in millions)

Securities Acquired in 4Q 2007 Reduced by 90%

• Portfolio reduced by over 50% during 3Q

• $63.5MM fair market value write-down on a $70MM par value Lehman Brothers security purchased in 3Q 2008

• Excludes estimated $750MM in ARS we have offered to repurchase

Total $ 346 $ 768 $3,503

Solid Capital and Balance Sheet

14

Funding and Liquidity

15

Funding & Liquidity—Highlights Stable Funding and Strong Liquidity Position

Funding

• Deposits fund 66% of total assets and 91% of loans1

• Core deposits are 88% of total deposits2

Liquidity

• Well-structured debt maturity profile at the bank and holding company – over $2 billion in cash at holding company1

• Average daily overnight borrowing position at or near historic lows – currently under $4 billion

• Combined available contingent liquidity from the Fed, FHLB, and free securities exceeds $28 billion1

1. At September 30, 20082. At September 30, 2008, core deposits exclude brokered and foreign deposits

16

Funding & LiquidityOvernight Borrowing Position

Average SunTrust overnight borrowing, national market

0

2

4

6

8

10

12

14

Jan-07 Mar-07 May-07 Jul-07 Sep-07 Nov-07 Jan-08 Mar-08 May-08 Jul-08 Sep-08 Nov-08

$ bi

llion

s

Average: $9.2 bn

Average: $5.0 bn

17

Funding & Liquidity2009 Consolidated Debt Maturity Schedule

Data in $thousands

CP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

CDs 8,390,720 1,450,000 390,000 1,000,000 0 0 0 2,550,000 0 0 0 0 1,000,000 720 4,940,720Fixed 2,990,720 1,450,000 390,000 900,000 0 0 0 250,000 0 0 0 0 0 720 1,540,720Floating 5,400,000 0 0 100,000 0 0 0 2,300,000 0 0 0 0 1,000,000 0 3,400,000

FHLB advances 10,431,493 890 0 340 250,050 13,000 441 0 0 511,000 0 0 2,183 0 777,013Fixed 5,176,493 890 0 340 50 13,000 441 0 0 6,000 0 0 2,183 0 22,013Floating 5,255,000 0 0 0 250,000 0 0 0 0 505,000 0 0 0 0 755,000

Bank notes 5,951,337 0 0 0 0 0 400,000 0 0 0 0 0 0 0 400,000Fixed 2,876,500 0 0 0 0 0 0 0 0 0 0 0 0 0 0Floating 3,074,837 0 0 0 0 0 400,000 0 0 0 0 0 0 0 400,000

Hold co debt 2,681,252 0 0 0 0 0 0 0 0 0 0 300,000 0 0 300,000

TruPS and capital 7,367,568 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Total 34,822,370 1,450,890 390,000 1,000,340 250,050 13,000 400,441 2,550,000 0 511,000 0 300,000 1,002,183 720 6,417,733

Total

2009 Maturities

MarProduct Dec

maturities Jan FebNov 30 balance

2008

Apr May Jun Jul Aug Sep Oct Nov Dec

18

Funding & Liquidity

• Key objectives

• Maintain low liquidity risk profile

• Continue to prudently manage refinancing risk

• Expand and diversify debt investor base

• Key inputs

• $6.4 billion of maturing debt in 2009

$300 million at the Holding Company

• $30.3 billion remaining capacity on our $40 billion Global Bank Note shelf

Funding Plan Objectives and Inputs

19

Funding & LiquiditySunTrust Term Debt Maturity Profile

SunTrust debt maturity profile, November 30, 2008

0

1

2

3

4

5

6

7

8

9

10

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 > 2018

$ bi

llion

s

CDs FHLB advances Bank notes and other senior debt Sub and jr sub debt

Term debt summary statisticsAmount outstanding, billions $35.5Weighted average maturity 5.1 yrsNon-dollar share 6.0 %

20

• SunTrust is participating in the FDIC Debt Guarantee Program

• Issued $2 billion 3-year fixed-rate bank note and $750 million 2-year floating rate note on December 9

• Total issuance capacity for FDIC-guaranteed debt is $4.0 billion

• $576 million at the Holding Company

• $3.5 billion at the Bank

• SunTrust will utilize its $1.25 billion remaining capacity on an opportunistic basis

Funding & LiquidityFDIC Debt Guarantee Program

21

Diversified Credit Profile

22

Home Equity Lines 29%

Consumer 10%

Construction 13%

Commercial 15%

Residential Mortgages

33%

Home Equity Lines

7%

Commercial Real Estate

5%

Consumer 1%

Construction 32%

Commercial 8%

Residential Mortgages

47%

Diversified Credit Profile and Strong Credit Culture

Diversified Credit Profile

Nonaccrual Loans 9/30/08 3Q 2008 Net Charge-Offs

Loan Portfolio 9/30/08

1. Consumer includes credit card portfolio of $1.0 billion

Residential Mortgages

25%

Commercial 32%

Construction 9%

Consumer 10%

Commercial Real Estate

11%

Home Equity Lines 13%

23

Diversified Credit ProfileCommercial and Commercial Real Estate1 Compose 43% of Loans

1. Largely owner-occupied 2. Restated to reflect portfolio redistribution of GB&T from Real Estate Construction to Commercial Real Estate during Q3 system conversion

Balance % of C/O Ratio C/O Ratio 30-89 DLQ% 30-89 DLQ%($ millions) 09/30/2008 Portfolio 3Q08 2Q08 3Q08 2Q08 2

Commercial $40,085 32% 0.59% 0.42% 0.38% 0.36%Commercial Real Estate1 13,842 11% - 0.02% 0.49% 0.57%

Consumer 12,731 10% 1.17% 1.05% 3.36% 2.82%

Real Estate Home Equity Lines 16,159 13% 2.97% 2.40% 1.48% 1.19%Real Estate 1-4 Family 32,382 25% 1.57% 1.49% 2.03% 1.90%Real Estate Construction 11,519 9% 1.73% 1.16% 3.37% 3.88%

Total $126,718 100% 1.24% 1.04% 1.52% 1.48%

24

Diversified Credit ProfileAsset Quality Continued to Weaken, 30-89 Days Past Due Remained Stable

1.24%

1.04%

0.30% 0.34%

0.55%

0.97%

1.54%

1.46%

0.88% 0.91%

1.05% 1.25%

1.52%1.48%

1.07%1.15%

1.53% 1.52%

0.00%

0.25%

0.50%

0.75%

1.00%

1.25%

1.50%

1.75%

2.00%

2Q 2007 3Q 2007 4Q 2007 1Q 2008 2Q 2008 3Q 2008

Net Charge-Offs ALLL to Loans 30-89 Days Past Due

25

The Subset of Portfolios That Is Under Stress Comprises 12% of the Total Loan Book; We Have Taken Aggressive Actions to Mitigate Risk

• Eliminated Alt-A lending• Aggressively managing collection and

loss mitigation initiatives• Significantly increased reserves---------------------------------------------------------• Eliminated >85% LTV production

from all channels• Added restrictions on LTVs, DTI, and

FICO, particularly in high risk markets • Closed or reduced lines to high risk

accounts (3rd party originated, high CLTV, high risk markets)

---------------------------------------------------------• Identified less well positioned builders

and engaged in risk mitigation• Added controls, tightened

underwriting, and implemented special guidelines for certain markets

• Focused effort to reduce residential construction has reduced outstandings by $2.7B during past year

• More than 50% of residential builder balance reduction has occurred in Florida and Atlanta portfolios

Actions09/30/2008 % of Total Current

($ in millions) Balance Portfolio FICO Balance % of Bal

Residential Mortgages Lot Loans $1,447 1.1% 708 $187 12.9% Alt-A 1st 917 0.7% 642 200 21.8% Alt-A 2nd 382 0.3% 621 52 13.6%

Home Equity Lines 3rd Party Originated 1,903 1.5% 732 65 3.4% CLTV > 80% (Florida) 1,945 1.5% 735 50 2.6% CLTV > 90% 1,763 1.4% 738 24 1.3%

Construction Construction Perm 2,030 1.6% na 287 14.1% Residential Construction 2,328 1.8% na 282 12.1% Residential A&D 2,029 1.6% na 320 15.8% Residential Land 611 0.5% na 111 18.2%Stressed Total $15,355 12.1% $1,578 10.3%

Remaining Portfolio $111,363 87.9% $1,712 1.5%

Nonaccrual Loans

Diversified Credit Profile

26

Financial Performance

27

($ in millions, except per share data)

$1,175.7 (1)% (4)% $3,528.5 (3)%

503.7 12% 243% 1,511.7 391%

1,285.2 (9)% 57% 3,755.7 32%

2,460.9 (5)% 21% 7,284.2 12%

1,668.1 21% 29% 4,301.8 14%

(52.8) (126)% (135)% 241.7 (65)%

307.3 (43)% (26)% 1,126.2 (30)%

$ 0.88 (42)% (25)% $ 3.22 (29)%

Income Statement SummaryFinancial Performance

3Q 2008 2Q 2008 3Q 2007 YTD 2008 YTD 2007% Change% Change % Change

Net Interest Income (FTE)

Provision for Loan Losses

Noninterest Income

Total Revenue (FTE)

Total Noninterest Expense

Provision for Income Taxes

Net Income Available to Common Shareholders

Net Income Per AverageCommon Diluted Share

28

$ 38,064 1% 5% 11%15,424 3% 12% 9%10,502 (8)% (34)% (23)%31,486 (2)% (8)% 2%14,139 2% 8% 11%

4,705 7% 29% 8%7,152 (4)% (15)% (10)%

860 5% 21% 67%122,332 0% (1)% 3%

20,880 (2)% (9)% (3)%20,501 (6)% (23)% 5%26,897 3% 13% 19%

3,771 (4)% (17)% (15)%16,282 (3)% (11)% (3)%11,868 0% (2)% 1%

100,199 (2)% (6)% 4% 15,800 5% 19% (25)%

$115,999 (1)% (3)% (2)%

($ in millions, quarterly average balances)CommercialReal Estate Home Equity LinesReal Estate ConstructionReal Estate 1-4 FamilyReal Estate Commercial Consumer – DirectConsumer – IndirectCredit Card

Total Loans1

Noninterest-Bearing DepositsNOW AccountsMoney Market AccountsSavingsConsumer TimeOther Time

Total Consumer and Commercial Deposits Brokered & Foreign Deposits

Total Deposits

3Q 2008 2Q 2008 2Q 2008 3Q 2007Annualized% Change

1. Excludes nonaccrual loans

Selected Balance Sheet SummaryFinancial Performance

29

3.07%3.13%

3.07%3.13%

3.18%

3.01%3.02%2.94%2.93%

2.50%

2.75%

3.00%

3.25%

3.50%

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08

Net Interest Margin TrendFinancial Performance

30

Appendix

31

Long Term Debt Ratings

As of December 10, 2008 Moody's Standard & Poor’s Fitch Dominion Bond

Rating Service

Corporate Ratings

Senior Debt A1 A+ A+ A (high)

Subordinated Debt A2 A A A

Bank Ratings

Senior Debt Aa3 AA- A+ AA (low)

Subordinated Debt A1 A+ A A (high)

Ratings Outlook Stable Negative Neg. Watch Stable

32

1. Excludes $55.1 million of Commercial loans secured by residential real estate and $90.9 million of mark-to-market loans HFS2. Does not include nonaccruals

Residential Mortgages $32,382 million ($ millions)

2.01%

10.64

7.12

4.13

2.00

0.52

1.75%

09/30/08 60+ DLQ2

1.68%

7.00

6.26

3.63

1.48

0.57

1.42%

06/30/08 60+ DLQ2

$1,403

52

200

187

169

58

$ 737

Total $Nonaccruals1

Credit Quality Metrics

81%$ 32,509$32,382Total

97458382Alt-A 2nd

771,002917Alt-A 1st

841,5201,447Lot Loans

924,0323,938Prime 2nd Insured

75 3,0202,894Home Equity Loans

79%$ 22,477$22,804Core Portfolio

Orig WACLTV

06/30/08 Balance

09/30/08Balance

Loan Type

Portfolio Profile

Residential MortgagesTotal Nonaccruals and Delinquencies Were Up, While Alt-A Balances and Nonaccruals Were Down

33

(As of 09/30/08, $ millions)

1. Nonaccruals not requiring write-downs include well-secured loans and loans with claims in process for individual and pool PMI policies2. Excludes Home Equity nonaccruals of $58.1 million, $55.1million of Commercial loans secured by residential real estate, and $90.9 million of

mark-to-market loans held for sale

+

$216.2

5.1

24.6

16.9

83.0

$86.6

Nonaccruals not requiring write-down1

Nonaccruals that have been through the specific write-down process

Loan TypeBalance before

write-down -Amount of write-down =

Nonaccruals with

write-down+

Nonaccruals without

specific write-down

=Total

Nonaccruals2% Loss Severity

Core Portfolio

$452.5 $ (96.9) $355.6 $294.5 $736.7 18.0%

Prime 2nd

Insured103.9 (17.9) 86.0 0.00 169.0 --

Lot Loans 178.1 (60.1) 118.0 52.0 186.9 30.8

Alt-A 1st 137.6 (27.2) 110.4 65.5 200.5 16.8

Alt-A 2nd 99.8 (84.2) 15.6 31.7 52.4 80.3

Total $971.9 $ (286.3) $685.6 $443.7 $1,345.5

Residential MortgagesNonaccrual Balances Were Up, But 67% of Nonaccruals are Carried at Expected Recoverable Value

34

Home Equity Lines $16,159 million

1. Excludes 3rd party originated2. Excludes 3rd party originated and Florida CLTV > 80%3. Excludes 3rd party originated, Florida CLTV>80% and CLTV 90+% 4. Annualized quarterly rate

2.97%

1.54

2.34

5.55

8.66%

Q3Charge-off 4

%

$16,159.0

10,547.1

1,763.2

1,945.4

$1,903.3

9/30/08Balance

1.38%1.44%2.40%$15,727.0100%Total

0.84

1.34

2.59

3.43%

Q3Nonaccrual

%

0.90

2.20

4.46

7.22%

Q2 Charge-off 4

%

Credit Quality Metrics

0.8710,096.565.3All Other 3

1.121,782.810.9CLTV > 90%2

2.381,930.112.0CLTV > 80%1

(Florida)

3.37%$1,917.611.8%3rd Party Originated

Q2Nonaccrual

%

06/30/08Balance

% oftotal

Type

Portfolio Profile

Home Equity Lines

($ millions)

As Expected, Q3 Charge-offs Increased From Q2 Levels

351.Reflects GB&T system conversion in 3Q

2.Annualized third quarter net charge-off ratio

($ millions)

Charge-offs and NPLs Increasing; Balances Have Been Managed Down by $1.0 Billion or 8.2% vs 2Q 2008; Delinquencies Declined to 4.24% from 4.67%

Construction $11,519 million

5.1035282.31.3043227202,328Construction

8.3770110.51.64769365611Residential Land

Commercial1

0.412011.90.001, 71524283,201Construction

1.81127.21.94767266641Commercial A&D

41%

30

44

36%

FLNPL

%

$ 11,519

679

2,029

$ 2,030

09/30/08Balance

4.24%$1,040.71.73%26%100%Total

21.9

320.3

$286.6

$ NPLs

0.75

2.34

4.66%

Q3C/O2

%

Credit Quality Metrics

3.98707296Commercial Land

4.356732417Residential A&D

Residential1

8.79%49225%18%Construction Perm

%30 + DLQ

Avg.Size

$000’s

%FL

%of

Portfolio

Type

Portfolio Profile

Construction