SunTrust Banks, Inc. today reported net income available to common shareholders of $152 million, or $0.28 per average common share, for the fourth quarter of 2011.  Earnings per average common share compared favorably to $0.23 for the fourth quarter of 2010 and declined from $0.39 in the third quarter of 2011.  Strong loan and deposit growth drove results, and credit quality continued to improve.  For the year, earnings were $1.09 per average common share compared to a loss of $0.18 per average common share in 2010.  The improvement in annual earnings was due to higher net interest income, lower provision for credit losses, and the repayment of TARP.

"Our client-centric banking approach is driving momentum in our core business fundamentals," said William H. Rogers, Jr., chairman and chief executive officer of SunTrust Banks, Inc.  "We experienced healthy loan growth again this quarter, particularly in our commercial and industrial portfolio, which we have targeted for expansion.  Our favorable deposit growth and mix trends continued.  Additionally, credit quality improved with further declines in net charge-offs and nonperforming loans."   Mr. Rogers also noted that, while the Company is still facing some legacy mortgage challenges, it is making progress in its efforts to reduce its expense base and ultimately improve efficiency.

Highlights:

• Net Interest Income -- $5.1 billion, up 4 percent
• Revenue -- $8.6 billion, down 1 percent
• Net Income -- $728 million, N/M
• Net Income Available To Shareholders -- $576 million, N/M
• Earnings Per Share -- $1.09, N/M
• Total Assets -- $172.4 billion, flat
• Total Deposits -- $122.8 billion, up 5 percent