Solid Index Findings: Americans Define Themselves Based on Finances, But Don't Invest in Their Fiscal Futures

/PRNewswire/ -- The economic contraction has highlighted the internal duel between Americans' beliefs and actions according to the latest Solid Index, a survey by SunTrust Banks (NYSE:STI) that studies Americans' emotions and perceptions toward their finances. The Solid Index revealed that while more than half (58 percent) of the respondents feel that their financial situation contributes to their perceptions of self-worth, 40 percent of American adults will not be enrolling in a retirement plan this year.

The most recent survey is the fourth in a series of six throughout 2009 and it investigated Americans' thoughts around benefits enrollment, the contributors of their self-worth and their reactions to the recession. In addition to their financial situation, the findings revealed that 55 percent of Americans feel that their job contributes to their sense of self-worth, with 43 percent citing their salary and more than a third (37 percent) noting their possessions.

"It is surprising and unsettling that many Americans are neglecting to properly invest in their future even while using their financial situation as a litmus test for their self worth," said Rilla Delorier, chief marketing officer for SunTrust Banks. "In this current economic situation it may seem difficult to invest in one's retirement, but proper planning and budgeting can lead to solid behaviors and help individuals feel good about themselves now and in the future."

Other key findings of Americans' reactions to the recession include:

-- Almost two thirds (64 percent) feel that they are obligated to feel
grateful for having a job in today's economy.
-- Penny pinching is getting old, with 54 percent stating they are tired
of cutting back on the little things.
-- To combat the restrictions of penny pinching, 93 percent said that
they have purchased an item in the last three months to give
themselves a "pick me up".
-- Women are significantly more likely than men to indulge themselves by
spending on clothes (59% vs. 43% men), while men tend to be more
interested in splurging on electronics (30% vs. 18% women).

Not all reactions to the economic turbulence have been negative. One in two respondents stated that the economy has caused them to spend more quality time with their family, bringing them closer, despite the fact that 55 percent believe a night out with the family has become unaffordable. Additionally, many reported becoming more generous due to the economy by helping their friends, family and neighbors save money by giving away hand-me-down clothes (66 percent), preparing meals for others (55 percent), babysitting (38 percent) and doing renovations (37 percent).

"While Americans are challenged by this economy, they are finding new ways to enjoy their families and friends, whether it's spending more time together or swapping a solid - that is, supporting and helping each other with favors instead of paying others to do it for them," added Delorier. "These types of solid behaviors underscore the generosity and resiliency of Americans."

The Solid Index was conducted by StrategyOne as a five-question, single wave telephone omnibus survey among a census representative sample of 1,000 American adults aged 18 and older. The next wave of SunTrust's Solid Index will be released this December.

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SunTrust Announces Completion of Consent Solicitation

/PRNewswire / -- SunTrust Banks, Inc. (NYSE: STI) announced today the successful completion of its previously announced solicitation of consents to amend the Amended and Restated Declaration of Trust of SunTrust Preferred Capital I. SunTrust has received approval of the holders of record (as of May 29, 2009) of a majority in aggregate liquidation amount outstanding of the 5.853% Fixed-to-Floating Rate Normal PPS, liquidation amount $1,000 per security of SunTrust Preferred Capital I (the "Normal PPS").

The amendment to the Amended and Restated Declaration of Trust will permit SunTrust to retire any Normal PPS tendered and accepted as part of SunTrust's outstanding offer to purchase up to $750 million aggregate liquidation preference or amount of certain securities, including certain of the issued and outstanding Normal PPS (the "Tender Offer"). The amendment is necessary in order for SunTrust to realize the full accounting benefit arising out of the acquisition of Normal PPS pursuant to the Tender Offer. The amendment will become effective upon execution and delivery by SunTrust and the trustees of SunTrust Preferred Capital I.

SunTrust's ongoing Tender Offer for certain of its outstanding preferred and hybrid securities, which is scheduled to expire at 11:59 p.m., New York City time, on Friday, June 26 and settle on Tuesday, June 30, is being made pursuant to an Offer to Purchase and related letter of transmittal, as amended, copies of which are available without charge from the Information Agent for the Tender Offer, D.F. King & Co., who may be reached toll-free at (800) 735-3107, and banks and brokers can call collect at (212) 269-5550. This communication is for information purposes only and does not constitute an offer to buy or the solicitation of an offer to sell securities in the Tender Offer. The Offer to Purchase, as amended, and other related documents were filed with the SEC on Schedule TO on June 1, 2009 and on Amendment No. 3 to Schedule TO filed on June 15, 2009 and may be obtained without charge at the SEC's internet site (http://www.sec.gov/). Holders of eligible securities are urged to read the Offer to Purchase and related letter of transmittal which include important information about the Tender Offer.

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SunTrust and Delta to Introduce New SkyMiles Check Cards

/PRNewswire/ -- SunTrust Banks, Inc., (NYSE: STI) and Delta Air Lines (NYSE:DAL) today announced consumers and businesses will soon be able to earn Delta miles on all signature-based purchases made with a new SunTrust SkyMiles Check Card, launching June 22. This will be the first time Delta has offered mileage-earning opportunities through a check card, and is the first co-branded check card relationship for SunTrust.

The SunTrust SkyMiles Check Cards meet a growing demand among Delta and SunTrust clients for a check card that earns airline miles. It also reinforces SunTrust's pledge to help clients with responsible financial management through its "Live Solid. Bank Solid" campaign.

"Today, more than ever, consumers are looking for ways to better control their finances and make smart purchasing decisions," said Hugh Gallagher, SunTrust's senior vice president for deposit product management. "The SunTrust SkyMiles Check Card encourages consumers and businesses alike to spend wisely while earning Delta miles. We're very pleased to partner with Delta on this great product."

For every purchase made with an authorized signature, cardholders earn miles that can be redeemed for Award Travel to nearly 400 destinations Delta and its partner airlines serve across the world. There is no mileage-earning cap with a SunTrust SkyMiles Check Card so cardholders can earn unlimited miles. Now in its 28th year, SkyMiles is one of the longest-running and most successful loyalty programs in the travel industry.

"Our SkyMiles members have told us they want a mileage-earning check card, particularly in these challenging economic times," said Jeff Robertson, Delta's vice president of loyalty programs. "SunTrust is a strong banking partner that matches our customer base in the Southeast and Mid-Atlantic. These new cards provide our members with additional options and value while strengthening our overall portfolio of card offerings."

Starting at just $20, the SunTrust SkyMiles Check Card features the lowest annual fees of any competing airline check card rewards program, and offers the convenience and security of a SunTrust Visa Check Card.

Three cards will be available - two for consumers and one for small- to medium-sized businesses:

-- SkyMiles Classic Check Card - consumers earn one mile for every $2
purchased and 2,500 bonus miles for the first signature purchase. The
annual Card fee is $20.
-- SkyMiles Platinum Check Card - consumers earn one mile for every $1
purchased, 5,000 bonus miles for the first signature purchase and a
complimentary Delta Sky Club Day Pass valued at $50. The annual Card
fee is $55.
-- SkyMiles Business Check Card - businesses earn one mile for every $1
purchased, 5,000 bonus miles for the first signature purchase and a
complimentary Delta Sky Club Day Pass valued at $50. The annual Card
fee is $55.


Beginning June 22, consumers can open SunTrust checking accounts with the new SkyMiles Check Card. Existing SunTrust consumer and business checking clients can also upgrade their existing check cards to the SkyMiles Check Card. For more information on the SunTrust SkyMiles Check Cards, consumers may call 1-877- SUNTRUST to speak with a representative or visit a local SunTrust branch.

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SunTrust Approved to Sell Remaining Allotment of Preferred Stock Under Treasury Program

/PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) said today it has received preliminary approval to sell to the U.S. Treasury the remaining $1.4 billion of preferred securities available to it under Treasury's Capital Purchase Program. As previously announced, SunTrust has already received an initial $3.5 billion under the program. This additional amount brings the combined total to approximately $4.9 billion, or the full 3% of risk weighted assets for which SunTrust was eligible.

"As we now know from the most recent data, the economic situation is decidedly bleaker than was the case when we announced our initial, partial regulatory capital transaction under the Treasury program," said James M. Wells III, SunTrust Chairman and Chief Executive Officer. "Given the increasingly uncertain economic outlook, we have concluded that further augmenting our capital at this point is a prudent step, especially if the current recession proves to be longer and more severe than previously expected."

Mr. Wells added that "at SunTrust, we are acutely aware of the importance to economic stability of responsible lending by banks. This additional capital will enhance our capacity to continue to make good loans to qualified borrowers, work with homeowners, and pursue other opportunities that support economic stability, even as we manage through this difficult industry environment."

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2008, SunTrust had total assets of $174.8 billion and total deposits of $115.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

Important Cautionary Statement About Forward-Looking Statements

The information in this news release 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 than banking 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.

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SunTrust Declares Quarterly Dividend

PRNewswire-FirstCall/ -- The Board of Directors of SunTrust Banks, Inc. (NYSE:STI) today declared a regular quarterly cash dividend of $0.54 per common share. The dividend is payable on December 15, 2008, to shareholders of record on December 1, 2008. The indicated annual cash dividend is $2.16 per common share.

The Board of Directors also announced a quarterly cash dividend of $1,011.11* per share on SunTrust's Perpetual Preferred Stock, Series A, declared payable in cash on December 15, 2008, to shareholders of record at the close of business on November 30, 2008.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2008, SunTrust had total assets of $174.8 billion and total deposits of $115.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

*Editor's Note: The preferred stock dividend has been rounded for reader convenience. The precise dividend is $1,011.11111111111.

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SunTrust Plans Sale of $3.5 Billion in Preferred Stock to U.S. Treasury; Company Separately Announces 30% Dividend Reduction

PRNewswire-FirstCall/ -- SunTrust Banks, Inc., (NYSE:STI) said today that it has received preliminary approval from the U.S. Treasury for the sale of $3.5 billion in preferred stock and related warrants to the U.S. Treasury under the Capital Purchase Program of the Emergency Economic Stabilization Act of 2008. The approval is subject to certain conditions and the execution of definitive agreements.

"Our participation in the Capital Purchase Program enhances SunTrust's already solid capital position and will permit us to further expand our business and take advantage of growth opportunities," said James M. Wells III, Chairman, President and CEO. "In addition, we are pleased to support the Treasury in its ongoing effort to address dislocations in financial markets and spur the market stabilization that is in the public interest."

Mr. Wells said he would anticipate "prudent deployment" of some of the capital in areas such as expansion of careful lending, expansion of business capabilities and the exploration of potential acquisitions in line with the Bank's long-term strategic goals. In addition, Mr. Wells said that as long as the current uncertain and challenging economic environment persists, maintenance of capital at elevated levels is desirable.

Separately, Mr. Wells said SunTrust's Board of Directors has approved a 30% reduction in the Company's dividend on its common stock. Effective with the next dividend, the quarterly dividend rate will be $.54 per common share.

"Although it has become common in our industry, reducing the dividend was not a decision we took lightly," said Mr. Wells. "But the reality is that even though SunTrust has been managing successfully through this difficult period, and our expectation is that will continue to be the case, reducing the dividend is the responsible thing to do given recent deterioration in the economy, the prospect of continued weakness in 2009, and the implications of this on the near-term outlook for SunTrust and our industry."

Mr. Wells noted that the dividend decision followed an extensive evaluation of the Company's overall capital structure in light of current and projected market conditions and the economic environment.

"We consistently have said that we would be taking the steps necessary to manage through the current turmoil, while also looking appropriately to position ourselves for post-cycle growth," said Mr. Wells. "The developments announced today are right in line with those priorities."

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2008, SunTrust had total assets of $174.8 billion and total deposits of $115.9 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com .

Important Cautionary Statement About Forward-Looking Statements

The information in this news release may contain forward-looking statements. Statements that do not describe historical or current facts, including statements about 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. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 Report on Form 8-K filed with the SEC on October 23, 2008.

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Pinnacle Grows Market Share and Total Deposits Faster Than Larger Regional Bank Competitors in Nashville and Knoxville

(BUSINESS WIRE)--Pinnacle Financial Partners Inc. (Nasdaq/NGS: PNFP) has grown market share and total deposits faster than its larger regional bank competitors, according to the Federal Deposit Insurance Corporation (FDIC) report for June 30, 2007, through June 30, 2008.

Pinnacle continues to be the fastest-growing financial institution in the Nashville-Davidson-Murfreesboro-Franklin MSA for the most recent period, as well as the eight-year period since the firm's inception. Pinnacle was also the fastest-growing bank in the Knoxville MSA following its recent de novo start in that market.

Pinnacle’s acquisition of PrimeTrust Bank and Bank of the South helped the firm gain nearly four points in market share in Nashville. Pinnacle grew market share to 9.56% in 2008, overtaking First Tennessee as the fourth-largest financial institution in the MSA. Pinnacle's market share for 2007 was 5.80% prior to its acquisition of Prime Trust and Bank of the South in late 2007.

Of the top four institutions, Pinnacle was the only bank with a gain in market share. The three largest banks collectively lost in excess of 3% in market share. Regions Bank held its No. 1 position with 18.7% market share, down from 19.9% last year. Bank of America remained the second-largest with its market share decreasing from 14.7% in 2007 to 13.7% this year. SunTrust maintained its position as the third largest, decreasing from 14.1% market share last year to 12.9% this year.

Pinnacle grew its local deposits in Nashville by $333 million year-over-year, while local deposits of its three larger regional bank competitors decreased. Regions fell from $6.1 billion to $5.8 billion. Bank of America was $4.3 billion, down from $4.5 billion. SunTrust’s local deposits dropped from $4.3 billion to $4.1 billion.

“Our gains in market share and deposits are a testament to our strategy of hiring the best financial services professionals in the market,” said M. Terry Turner, Pinnacle president and CEO. “High caliber associates attract great clients, which pays off in more difficult economic environments. Our strategy enables us to continue growing at a rapid rate while maintaining excellent credit quality.”

Many community banks among the 59 financial institutions in the Nashville-Davidson-Murfreesboro-Franklin MSA gained market share, continuing the trend of smaller competitors gaining market share and deposits from larger regional and national banks.

In the Knoxville MSA, Pinnacle grew its deposits by approximately $116 million over the prior year, giving the firm 1.07% market share up 1.03 during the year. This makes Pinnacle the fastest-growing bank in the MSA, climbing 20 positions to the 14th largest market share in Knoxville.

"We are extremely encouraged by our rapid rate of growth and the fact that all but one of the banks in front of us are losing market share," said Nathan Hunter, Pinnacle Knoxville president. "It confirms our belief that the Knoxville market has a strong desire for the kind of service and advice that Pinnacle offers.”

Pinnacle maintained the top spot in the Rutherford County data with 29.81% market share and is the second-largest financial institution in Wilson County with 17.30% market share.

Pinnacle Financial Partners provides a full range of banking, investment, mortgage and insurance products and services designed for small- to mid-sized businesses and their owners, real estate professionals and individuals interested in a comprehensive relationship with their financial institution. Pinnacle’s comprehensive wealth management services, such as financial planning and trust, help clients increase, protect and distribute their assets. The firm also has a well-established expertise in commercial real estate.

Pinnacle is Tennessee’s second-largest bank holding company with $4.11 billion in assets and 31 offices in eight Middle Tennessee counties. Pinnacle also entered the Knoxville, Tenn., market, where the firm operates one banking office and a loan production office. The firm is the fastest growing of the 186 national banks chartered in 2000 and in 2007 was the only bank on Fortune magazine’s annual list of America’s 100 Fastest-Growing Companies. For more information, visit www.pnfp.com.

(a) 3% due to acquisition of Mid-America Bancshares, Inc. combined with 0.8% organic growth

Certain of the statements in this release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking. All forward-looking statements are subject to risks, uncertainties and other facts that may cause the actual results, performance or achievements of Pinnacle to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, without limitation, (i) unanticipated deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses, (ii) the inability of Pinnacle to continue to grow its loan portfolio at historic rates in the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA, (iii) increased competition with other financial institutions, (iv) lack of sustained growth in the economy in the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA, (v) rapid fluctuations or unanticipated changes in interest rates, (vi) the inability of Pinnacle to satisfy regulatory requirements for its expansion plans, (vii) the inability of Pinnacle to execute its expansion plans and (viii) changes in state and Federal legislation or regulations applicable to financial services providers, including banks. Additionally, risk factors exist in connection with Pinnacle’s merger with Mid-America including, among others, the risk that the cost savings and any revenue synergies from the merger may not be realized or take longer than anticipated. Many of such factors are beyond Pinnacle's ability to control or predict, and readers are cautioned not to put undue reliance on such forward-looking statements. Pinnacle disclaims any obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.

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SunTrust Bank Lowers Prime Rate

PRNewswire-FirstCall/ -- SunTrust Bank announced today it has lowered its prime lending rate to 4.50% from 5.00%, effective October 8, 2008. The prime rate is a benchmark used to set interest rates on various forms of corporate and consumer credit. The prime rate last changed on April 30, 2008.

SunTrust Banks, Inc. (NYSE:STI) , headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2008, SunTrust had total assets of $177.4 billion and total deposits of $119.8 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com .

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SunTrust to Announce Third Quarter 2008 Earnings Results Thursday, October 23, 2008

PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) announced today that it plans to release third quarter 2008 results prior to the market opening on Thursday, October 23, 2008.

SunTrust management will host a conference call October 23, 2008, at 8:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Individuals may call in beginning at 7:45 a.m. (Eastern Time) by dialing 1-888-972-7805 (Passcode: 3Q08). Individuals calling from outside the United States should dial 1-517-308-9091 (Passcode: 3Q08). A replay of the call will be available one hour after the call ends on October 23, 2008, and will remain available until November 6, 2008, by dialing 1-866-435-5412 (domestic) or 1-203-369-1031 (international).

Alternatively, individuals may listen to the live webcast of the presentation by visiting the SunTrust Web site at www.suntrust.com . The webcast will be hosted under "Investor Relations," located under "About SunTrust", or may be accessed directly from the SunTrust home page by clicking on the earnings-related link, "3rd Quarter Earnings Release". Beginning the afternoon of October 23, 2008, listeners may access an archived version of the webcast in the "Webcasts and Presentations" subsection found under "Investor Relations". This webcast will be archived and available for one year. A link to the Investor Relations page is also found in the footer of the SunTrust home page.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2008, SunTrust had total assets of $177.4 billion and total deposits of $119.8 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

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LLR Partners, FTVentures and Management Purchase Fleet One from SunTrust Banks

BUSINESS WIRE --Fleet One Holdings LLC, an affiliate funded by LLR Partners, FTVentures and the Fleet One management team, announced today that it has acquired TransPlatinum Service, the holding company for Fleet One and a wholly-owned subsidiary of SunTrust Banks, Inc. (NYSE:STI).

With a national customer base of over 20,000 fleets, and products accepted at over 40,000 locations across the country, Fleet One is a provider of fuel charge cards and fleet management information services to all vehicle classes. Following this acquisition, the current management team of Fleet One will continue to manage and grow the company’s products and services.

“We are excited to grow Fleet One as an independent business,” said Andy Roberts, CEO of Fleet One. “With the support of LLR Partners and FTVentures as investment partners, we are well positioned to provide best-in-class value and service to our growing customer base.”

Fleet One was acquired by SunTrust in 2004 as part of its National Commerce Financial merger. The unit has operated as a separate business since then.

“This transaction reflects SunTrust’s ongoing priority of managing our business mix to ensure concentrated focus on our key client and market segments,” noted SunTrust Executive Vice President David Fuller. “We are pleased that under this new structure Fleet One and its management team will be positioned to maintain their successful growth trajectory; we look forward to a continuing business relationship with them.”

“LLR Partners and FTVentures have a long history with the management team at Fleet One,” said Mitchell Hollin, a partner of LLR Partners and Chairman of Fleet One Holding, LLC. “Acquiring Fleet One was a compelling opportunity because of its strong growth dynamics and attractive market position.”

“Fleet One’s proven management team and unique service offering, which spans all fleet classes, strongly position the company to achieve its expansion goals,” said Richard Garman, Managing Partner of FTVentures. “We look forward to partnering with Fleet One and leveraging our extensive domain expertise in transaction processing services to help the company capitalize on its strong momentum in the coming years.”

Financial terms of the acquisition were not announced.

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SunTrust Declares Quarterly Dividend

PRNewswire-FirstCall/ -- The Board of Directors of SunTrust Banks, Inc. (NYSE:STI) today declared a regular quarterly cash dividend of $0.77 per common share. The dividend is payable on September 15, 2008, to shareholders of record on September 2, 2008. The indicated annual cash dividend is $3.08 per common share.

The Board of Directors also announced a quarterly cash dividend of $1,022.22* per share on SunTrust's Perpetual Preferred Stock, Series A, declared payable in cash on September 15, 2008, to shareholders of record at the close of business on September 2, 2008.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2008, SunTrust had total assets of $177.4 billion and total deposits of $119.8 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

SunTrust Acquires Insured Customer Deposits of First Priority Bank from FDIC

PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) announced today that it has acquired from the Federal Deposit Insurance Corporation (FDIC) approximately $225 million in FDIC-insured deposits of First Priority Bank of Bradenton, Florida.

The FDIC separately announced today the closing of First Priority Bank by the Commissioner of the Florida Office of Financial Regulation.

Under terms of an agreement with the FDIC, SunTrust will provide banking services to more than 4000 former First Priority customers, including operating First Priority Bank's six branches beginning on Monday, August 3 for a 90-day transition period.

During the transition period, First Priority customer accounts will be transitioned to SunTrust accounts with clients ultimately enjoying access to SunTrust's robust Southwest Florida branch network and its more than 1600 other branches throughout the Southeast and Mid-Atlantic states.

"Today's announcement underscores that despite the challenges facing all banks today, the current environment also presents opportunities for strong institutions like SunTrust to expand our client base," said James M. Wells III, SunTrust Chairman, President and CEO. "In addition, we are pleased to be in a position to support the FDIC in its effort to resolve a problematic situation while also offering former First Priority customers the advantages of banking with SunTrust."

During the transition period, SunTrust will work with First Priority's approximately 50 employees to identify possible job opportunities within SunTrust.

"We look forward to welcoming First Priority customers, and soon offering them the channels, choices and convenience enjoyed by existing SunTrust customers," said Margaret L. Callihan, chairman, president and CEO of SunTrust Bank, Southwest Florida. She noted that pending completion of the transition period, First Priority customers should continue to conduct their banking at their usual branch location.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2008, SunTrust had total assets of $177.4 billion and total deposits of $119.8 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24- hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

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SunTrust Extends Deposit Cut-Off Time for Online Check Deposit Service

/PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) announced today that it has extended the daily deposit cut-off time for its Online Check Deposit service from 5:30 p.m. until 8:30 p.m. ET -- a market-leading deadline. This additional three hours provides an even longer window for clients to receive same-day credit for checks and other eligible items deposited through Online Check Deposit. The service allows businesses to save time by using a SunTrust certified scanner to capture check images and transmit them electronically to SunTrust from their office.

"As current economic conditions continue to make every dollar count more and pressure businesses to find ways to improve efficiencies around daily cash management tasks, we're pleased to offer this enhancement to the service and provide faster access to their cash," says David Fuller, executive vice president and division head of SunTrust Treasury & Payment Solutions. "With Online Check Deposit, clients can focus more on the success of their businesses and less on the day-to-day administrative tasks -- such as driving to the bank."

To learn more about the benefits of Online Check Deposit and to view a demo please visit: www.suntrust.com/onlinecheckdeposit .