tw0122
11 months ago
About Nubia Brand International Corp.
Nubia is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses.
About Honeycomb
Honeycomb formerly the energy solutions division of Global Graphene Group, Inc., is a Dayton, Ohio, USA-based advanced battery technology company focused on the development and commercialization of battery materials, components, cells, and selected module/pack technologies.
Additional Information about the Proposed Transaction and Where to Find It
Sergey777
13 years ago
SunTrust Reports First Quarter 2012 Results
ATLANTA, April 23, 2012 /PRNewswire/ – SunTrust Banks, Inc. (NYSE: STI (24.28 ?-2.10%)) today reported net income available to common shareholders of $245 million, or $0.46 per average common share, for the first quarter of 2012. Earnings per average common share increased by $0.33 from the fourth quarter of 2011 and by $0.38 from the first quarter of 2011.
“Our core performance this quarter drove a solid start to 2012 and marked a continuation of the improved momentum we built during 2011,” said William H. Rogers, Jr. chairman and chief executive officer of SunTrust Banks, Inc. “Improved revenue, as well as continued favorable trends in loans, deposits, and credit metrics were hallmarks for the quarter.” Mr. Rogers also noted that the Company’s expense savings program continues to progress.
Technical Analysis SunTrust Banks $STI short target 20.33 (fibo 50%) http://bit.ly/IluW7E
MWM
15 years ago
Notice where the latest banks to be closed down are...
Bank Failure Friday: Three More Banks
by: Rolfe Winkler June 26, 2010
#84
—Failed bank: Peninsula Bank, Englewood FL
—Acquiring bank: Premier American Bank, Miami FL
—Vitals: assets of $644.3 million, deposits of $580.1 million
—Estimated DIF damage: $194.8 million
#85
—Failed bank: First National Bank, Savannah GA
—Acquiring bank: The Savannah Bank, National Association, Savannah GA
—Vitals: assets of $252.5 million, deposits of $231.9 million
—Estimated DIF damage: $68.9 million
#86
—Failed bank: High Desert State Bank, Albuquerque NM
—Acquiring bank: First American Bank, Artesia NM
—Vitals: assets of $80.3 million, deposits of $81.0 million
—Estimated DIF damage: $20.9 million
MWM
15 years ago
STI still has TARP money, surprising this ran over $30 to begin with...
SunTrust Seeks to De-TARP
by: Zacks.com September 16, 2009
The Chief Executive Officer (CEO) of SunTrust Banks Inc. (STI) said on Tuesday that the bank will repay the fund it received for its participation in the Troubled Asset Relief Program (TARP) as soon as it gets the regulator’s permission. The CEO also added that the credit condition of the bank is achieving stability.
SunTrust has received $4.9 billion as part of the government's $700 billion bailout program. The bank now sees the bailout money as expensive debt rather than equity as it pays an 8% dividend on the preferred shares it sold to the U.S. government.
Government regulators will probably want to see the credit condition of the bank before permitting it to repay the bailout money as the stress test projected that SunTrust's loan losses could reach $11.8 billion under a worst-case scenario for 2009 and 2010. However, the CEO said that the bank's credit condition has started stabilizing and the loan loss reserve growth is expected to stabilize in the third quarter of 2009. During the second quarter of 2009, the loan loss reserve grew 5.3% sequentially to $2.9 billion.
SunTrust raised more than $2 billion toward Tier 1 capital in a stock offering earlier this year. The bank does not expect to raise additional capital through stock offerings to repay the bailout money. As an alternative, the bank intends to build capital through earnings.
Though the management is optimistic about the performance of its commercial real estate portfolio, further losses are expected in its residential real estate loans into 2010 as values continue to fall. Considering its current financial condition, we don’t think that the capital building would be very easy for the company only through earnings.
However, the repayment of bailout money would enable SunTrust to reduce government involvement in its affairs. It would also be a relief with respect to the compulsion of high rate preferred dividend payments.
Many of the financial institutions that have already repaid bailout money include JPMorgan Chase (JPM), American Express (AXP), Goldman Sachs (GS), Morgan Stanley (MS), Capital One (COF), BB&T Corporation (BBT) and US Bancorp (USB) Also, banks like Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C) are expected to exit from TARP over the next 12 to 18 months.
MWM
15 years ago
Regional Banks to Buy Into Now
Morgan Keegan likes BB&T, Synovus, SunTrust and five others.
Morgan Keegan
WE BELIEVE THAT CURRENT BANK-STOCK valuations are discounting the uncertainty created by the European debt crisis, the financial-reform bill (FinReg) and the Gulf oil slick.
While headline risk is likely to remain elevated near term, increasing volatility, we believe that current valuations offer an attractive entry point to investors based on our view that despite the near-term headwinds, the U.S. economy is likely to continue on its path of slow and steady recovery and clarity on the above issues should serve as a positive catalyst for bank stocks.
With regards to the FinReg bill we believe that the most onerous provisions are likely to get watered down by the time the final bill is passed. While the impact on the economy (particularly the Southeast economy) from the Gulf oil slick is hard to handicap at this point, beyond the direct impact to the tourism and fishing industry, we could also see some near-term headwinds for the energy industry due to the administration's six-month moratorium on deepwater-oil drilling.
We favor value versus growth and believe that banks that are currently trading closer to 1.0 times year-end 2010 tangible book values (TBVs) and where capital and credit issues have been addressed, provide the most attractive risk/reward. The MK Bank Coverage Universe is currently trading at a median of 8.8 times our normalized EPS estimate and 1.3 times year-end 2010 TBV per share. Based on our view that longer term the group should trade closer to 10 to 12 times earnings and 1.5 to 2.0 times TBV we see considerable upside in banks where we believe credit issues have peaked and the banks are on their way to returning to sustainable profitability.
We would be buyers of Marshall & Ilsley (ticker: MI), Zions Bancorp (ZION), SunTrust Banks (STI), Texas Capital Bancshares (TCBI), Huntington Bancshares (HBAN), Fifth Third Bancorp (FITB), BB&T (BBT) and Synovus Financial (SNV), given the relatively attractive valuations and based on our view that these banks should lead peers in terms of continued credit improvement and a rebound in earnings.
While Synovus at 1.1 times TBV and SunTrust at 1.2 times TBV appear attractive longer term, we remain somewhat cautious due to their Florida exposure, given the uncertain impact from the Gulf oil slick that could dampen the overall Florida economic recovery.
Fundamental improvement driven by lower credit losses and expanding net interest margins coupled with strong capital and reserve ratios have positioned the banks in a relatively healthy position to deal with near-term headwinds. As an example, the Tier 1 Common capital ratio for the group stood at 9.10% at March 31, 2010, versus 7.06% at Dec. 31, 2007. This capital build has occurred during a time in which the group charged off over $250 billion during the last nine quarters.
With short-term interest rates unlikely to move near term, bank net-interest margins should continue to expand or remain relatively stable in the coming quarters. While loan demand has been sluggish so far, we expect demand to pick-up (albeit at a slow pace) in the second-half of 2010 driven by equipment financing need followed by accounts receivable, inventory build, etc.
Based on our recent conversations with bank management teams in the
Gulf region and other industry participants, we believe it is too early to fully handicap the impact from the oil slick. While the tourism (including retail and restaurants catering to tourists) and fishing industries are likely to be directly hit, on the other hand there are likely to be companies that should benefit from the clean-up efforts.
In addition, the extent to which BP (BP) will reimburse the losses incurred by the region remains unknown. Another adverse impact is likely to come from the six month moratorium imposed by the Obama administration on deepwater-oil drilling.
We believe the passage (likely by July 4) of the FinReg legislation could serve as a positive catalyst for bank stocks as it would provide the much-needed clarity on several key issues for bank-stock investors. Final capital levels may still remain unknown until the international rules are set (likely by year end) under the Basel III rules. However, we believe that key provisions such as Lincoln (derivatives/swaps), Collins (trust-preferred securities), Durbin (interchange legislation) and a few others are likely to get watered down by the time the final legislation is passed.
With the Federal Deposit Insurance Corp. steadily scaling back assistance on failed bank transactions and given the significant competition from buyers during recent failed bank bids, we are seeing increasing signs for a return to regular mergers-and-acquisitions activity over the next 12 months. The recent (announced May 17) acquisition of South Financial Group (TSFG) by Toronto-Dominion Bank (TD) was done without any credit guarantees (although the Treasury did take a haircut on its Troubled Asset Relief Program [TARP] investment).
MWM
15 years ago
RBC Bank, Wachovia, SunTrust on Weiss list of vulnerable banks
Tuesday, May 25, 2010
Triangle Business Journal
Raleigh-based RBC Bank is one of 20 large U.S. banks and 11 Triangle-based banks considered vulnerable by Weiss Ratings, a Florida-based company that evaluates the financial strength of insurers, banks and savings and loans.
A new Weiss report gives RBC Bank, the U.S. banking arm of the Royal Bank of Canada (NYSE: RBC), a “D-” The bank, with $27.5 billion in assets, has been dealing with a loan portfolio weighed down by depressed real estate in Florida.
Three other huge players in the Triangle banking market also are on the Weiss list of weakest banks. Atlanta-based SunTrust Banks (NYSE: STI) joins RBC Bank in receiving a D- rating.
Weiss gave D ratings to Bank of America (NYSE:BAC), the country’s largest commercial bank but No. 5 in the Triangle, and Triangle-market leader Wachovia, a Charlotte-based bank now owned by San Francisco-based Wells Fargo & Co. (NYSE:WFC).
All told, Weiss says, 2,259 U.S. banks and savings and loans, controlling $5.8 trillion, or 43.8 percent of the industry’s total assets, are vulnerable. Those banks are given grades ranging from D+ to D-. A list of other Triangle-based banks with weak grades is at the bottom of this story.
“Major U.S. banks continue to be plagued by toxic assets and an inability to raise capital,” Martin Weiss, chairman of the ratings service, says in a news release. "Despite the federal government's help, we've witnessed 73 bank failures so far in 2010, more than double last year's pace — a pattern that is bound to continue as further loan deterioration and regulatory reform take their toll on already-shaky banks. Although most vulnerable banks will not ultimately fail, the failure rate could rise sharply if the U.S. experiences any further economic or financial adversity."
Weiss Ratings’ report comes nearly two years after the federal government spent $700 billion under the Troubled Asset Relief Program, designed to ease the credit markets and boost the economy.
Weiss views only 962 institutions — with $484 billion, or 3.7 percent of the industry’s assets — as strong enough to be recommended to consumers. The firm gives those institutions a rating of B+ (good) or higher. No Triangle-based banks are on the good list.
"For consumers and also for bank regulators," Weiss said, "the big dilemma is that many of the largest banks are still weak, while most of the strongest banks are relatively small and have fewer branches."
Following are the Triangle-based banks on the Weiss vulnerable list. The banks are listed by grade received. Each listing gives the bank’s headquarters location and total assets.
D+
Raleigh-based Paragon Commercial Bank, $1.3 billion;
Raleigh-based North State Bank, $679 million;
Dunn-based New Century Bank, $629.3 million;
Smithfield-based KS Bank, $295.9 million;
Durham-based Mechanics & Farmers Bank, $273.8 million;
D
Johnston County-based Four Oaks Bank & Trust Co., $973.1 million;
Raleigh-based TrustAtlantic Bank, $356.2 million;
Chapel Hill-based Harrington Bank, with $295.9 million;
Fuquay-Varina-based Patriot State Bank, $137.6 million;
D-
Raleigh-based RBC Bank, $27.5 billion;
Raleigh-based Greystone Bank, $689.6 million.
MWM
15 years ago
Sandcastle Bust Signals Pain at Banks as BP Spill Hits Florida
June 09, 2010, 7:42 AM EDT
June 9 (Bloomberg) -- Just as Gulf Coast banks were beginning to rebound from hundreds of millions of dollars of losses on real estate, a wave of toxic goo approaching the Florida Panhandle may smother some of their progress.
Regions Financial Corp. and Synovus Financial Corp. are among lenders dominating the region whose shares are trailing industry benchmarks. Synovus, with 26 branches in the Panhandle, has dropped 33 percent following BP Plc’s April 20 offshore oil well explosion, which killed 11 workers. Regions, the market leader with 48 branches, declined 19 percent. During the same period, the KBW Bank Index fell 16 percent.
Investors are backing away on concern that the coastal economy will suffer as homes go unsold and tourists cancel bookings for hotels, restaurants and fishing charters. About 21 percent of Florida’s taxable sales are tied to tourism, according to the Partnership for Florida Tourism, a trade group.
“This issue might freeze up the market for sales along the Gulf Coast,” said Kevin Fitzsimmons, an analyst at New York- based Sandler O’Neill & Partners who covers Southeast banks and has a “hold” rating on Synovus and Regions. “For most it will be highly isolated, but if it comes into Florida in a big way, that could imply another leg down in real estate values.”
With tar balls washing up on Pensacola, property sales are being renegotiated and buyers are delaying bids, said Theo Baars of Baars Real Estate Services LLC, whose family has marketed property in the city since 1946.
Tourism is taking a hit, too, with only one-fifth of the usual number of people attending the annual sandcastle contest last weekend, Grover Robinson, chairman of the Escambia County Commission, said at a Monday press briefing. The county includes Pensacola, located about 200 miles east of New Orleans.
Silent Phones
“The phones are not ringing,” Robinson said of hoteliers and restaurateurs. State and local officials so far are keeping the beaches open because the tar balls aren’t everywhere and are being cleaned up within a couple of hours, Robinson said.
Even before BP’s well began spewing oil into the Gulf of Mexico, lenders based in the state reported 7.7 percent of their loans weren’t paying interest in the first quarter. That compared with 5.5 percent nationally, according to the Federal Deposit Insurance Corp.
Twenty-two of the Panhandle’s 37 community banks lost money in the first quarter, while 12 had more loans that weren’t paying interest as of March 31 than their total reserves and tangible common equity, according to Carson Medlin Co., an investment bank in Tampa specializing in small financial firms.
‘More Pain’
Whitney Holding Corp., a New Orleans-based bank that lends to the oil and gas industry with 10 Panhandle branches, has 15 percent of its loans and 57 percent of its nonperforming loans tied to Florida. The stock fell 30 percent since the day after the BP spill began.
The disaster has fueled declines in the region’s bank stocks, Fitzsimmons said, and lenders “certainly could have more pain in those markets than they wanted to have,” said Peyton Green, an analyst at Sterne Agee & Leach Inc. in Nashville, Tennessee.
SunTrust Banks Inc., which has dropped 17 percent after the explosion, and Regions, based in Birmingham, Alabama, were among lenders whose first-quarter reports cited improving prices for distressed condos and other real estate, reflecting increased buyer confidence. Almost 30 percent of Atlanta-based SunTrust’s residential construction and mortgage business and 38 percent of its home-equity loans are in Florida. Home prices stabilized this year after declining in some resort towns by more than 60 percent from 2005 peak levels, Baars said.
Banks’ Prognosis
Gregory Hudgison, a spokesman for Columbus, Georgia-based Synovus, didn’t comment. Michael McCoy of SunTrust said the bank is “very concerned about our teammates, clients, residents and others,” and is “watching the situation very closely.” Trisha Carlson of Whitney said the lender “will continue to review any potential impact on our loan portfolio from the oil leak, but until this event plays out fully it is still too early to tell what that impact may be.”
Government-assisted takeovers of Panhandle community banks seem certain, Sterne Agee’s Green said, though regulators “don’t have the capacity to handle them all in a short time period.”
Before oil began washing ashore, discounts helped the Pensacola-Panama City area to its strongest Memorial Day holiday weekend in five years, said Jim Donatelli, Regions’ Pensacola city executive. Demand for beach property in Destin started picking up last year and some properties had recently seen bidding wars, said Mary Anne Windes, president of the Emerald Coast Association of Realtors in Fort Walton Beach.
Signs of Strength
Only one real-estate transaction involving Regions was delayed from closing in the past 45 days because of worries over the oil, and it was concluded within a week, Donatelli said.
“We’re fighting the hype, which is a big risk given how important tourism is as a big driver of our community,” he said. Windes said the beaches are still white and the publicity is just a “black eye” that will “heal and be as good as new in a short time.”
Real estate agents in resort towns including Panama City Beach and Fort Walton Beach are reporting more cancellations than Pensacola, which has about 21,700 jobs tied to the Naval Air Station, four hospitals and two colleges, said David Wilhite, president of the Pensacola Association of Realtors.
“If more oil comes ashore, it’s obviously going to affect our sales,” he said. “Our condo sales had been increasing some earlier this year, but I think people will be taking a second glance now.”
--With assistance by Mary Ann Credeur in Atlanta. Editors: Rick Green, David Scheer
To contact the reporters on this story: David Mildenberg in Charlotte at dmildenberg@bloomberg.net.
MWM
15 years ago
From the last 10K I did a search for the word Florida, very interesting to ay the least...
On February 1, 2010, S&P downgraded our senior, long-term debt Bank and Parent Company ratings from A- and BBB+, respectively, to BBB+ and BBB, respectively. Our short-term ratings remained unchanged at A-2. S&P cited expectations of continued stress in and high exposure to residential mortgages, especially in Florida, as the primary factor in its decision to downgrade our long-term ratings. However, concurrent with the downgrade, S&P changed the outlook on our credit ratings to “stable” noting our strong franchise, good liquidity and funding profile, and commercial loan portfolio performance that was in line with their expectations. Our business activities have not been materially impacted as a result of this recent downgrade by S&P.
In addition, we experienced some weakness in our commercial client base, particularly those in more cyclically sensitive industries, and in our small business portfolio, and we expect that we will continue to see stress in asset quality in the commercial portfolio. The $1.7 billion increase in net charge-offs during the year was primarily related to residential mortgages, large corporate borrowers in economically cyclical industries, and the resolution of loan workouts related to the home builder portfolio. Our nonperforming loans grew by $1.5 billion during 2009, which is a result of the economic environment causing increased client defaults on their loans and extended disposition times on our consumer loans secured by residential real estate. Given the extended timelines to foreclose, especially in Florida, we expect that our nonperforming loan levels will remain elevated throughout 2010.
Nonperforming residential mortgages are primarily collateralized by one-to-four family residential properties. Approximately 84% of the nonperforming loans relate to properties in our footprint; approximately 52% of such nonperforming loans are in Florida. Approximately 75% of the nonperforming residential mortgages have been on nonaccrual status for at least six months. We have reached a point where growth in residential mortgage nonperforming loans has slowed as we are approaching the equilibrium point where the nonperforming loan outflow from foreclosures is offsetting the inflow from new nonperforming loans. Approximately 52% of the nonperforming home equity lines were from lines originated by third parties, lines in Florida with combined LTVs greater than 80%, or lines in other states with combined LTVs greater than 90%. Beginning in 2006, we tightened the underwriting standards applicable to many of the residential loan products offered.
MWM
15 years ago
Added more to my STI puts... This article helped encourage me, Georgis is in deep doo-doo imo...
Georgia's Strongest and Weakest Banks
By Philip van Doorn 10/20/09 - 05:00 AM EDT
ATLANTA (TheStreet) -- Georgia, the state with the highest number of bank failures during the credit crisis, has about as many institutions with critically poor loan quality as it does those in strong shape.
With the Atlanta area as the eye of the storm for residential-building loans that have gone bust, Georgia has had 24 bank and thrift failures this year and last, the most for any state, followed by Illinois, with 15, California, with 14, and Florida, with eight. Georgia's 313 banks and savings and loan associations include 17 with critically poor loan quality and 18 in strong shape, according to a review by TheStreet.com Ratings using the most recent complete figures as of June 30.
Banking in the state is dominated by SunTrust Bank, the main subsidiary of SunTrust Banks(STI Quote), which had $170 billion in assets as of June 30. The bank's D-minus (weak) rating was driven by three consecutive quarterly losses, along with declining asset quality and an annualized charge-off ratio in excess of its ratio of loan-loss reserves to total loans.
http://www.thestreet.com/story/10612921/1/georgias-strongest-and-weakest-banks.html
MWM
15 years ago
U.S. Banks Face More Loan Losses, SunTrust Chief Says
By Steve Matthews and David Mildenberg
Aug. 24 (Bloomberg) -- The head of SunTrust Banks Inc., Georgia’s biggest lender, said U.S. financial institutions probably will report further credit losses as commercial real estate falters through next year.
“The industry is a long way from declaring any sort of victory, especially regarding credit issues,” Chief Executive Officer James Wells III said today in a speech to the Rotary Club of Atlanta. “This credit cycle has yet to play itself out. We do not expect things to improve for the banking industry in the very near future.”
SunTrust, based in Atlanta, has reported three straight quarterly losses, mostly from soured loans in its $16.3 billion home-equity and $8.2 billion construction lending units. Regulators shut 18 banks this year in Georgia, where the jobless rate exceeds the U.S. average and the pace of home foreclosures was the sixth-highest in the nation in July.
“The industry has moved from a potentially cataclysmic scenario to one that is merely very difficult,” Wells said. “The industry is back from the brink of a potential global financial-system meltdown.”
Wells said concerns over falling values of commercial real estate are “not without merit. Even if the economy begins to improve modestly, commercial real estate conditions will probably deteriorate until 2010.”
SunTrust should “compare favorably” to other banks in managing loans, he added. The bank “has a very positive, strong, post-recession future,” Wells said.
SunTrust had $15.9 billion in commercial real-estate loans as of June 30, or 13 percent of $122.8 billion in loans, according to a presentation to investors last week. The bank was not receiving interest on less than 1 percent of the commercial real-estate loans, SunTrust said.
TARP Stake
Wells said SunTrust may repurchase $4.9 billion in preferred shares sold through the U.S. Troubled Asset Relief Program “as soon as possible,” without being more specific. SunTrust boosted its capital by $2.3 billion last month after U.S. regulators told the company to add $2.2 billion in case of worsening economic conditions.
U.S. stress tests in May of banks’ ability to withstand a prolonged recession showed SunTrust’s projected loan losses at 8.3 percent, among the lowest of 19 U.S. commercial banks. The tests show that SunTrust is “strong and stable,” Wells said.
SunTrust shares declined 85 cents, or 3.8 percent, to $21.79 at 4:15 p.m. in New York Stock Exchange composite trading. The shares gained 7.6 percent last week after analysts at JPMorgan Securities and Standard & Poor’s Corp. raised their price targets.
To contact the reporter on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net.
fixedops
16 years ago
- Statement of Changes in Beneficial Ownership (4)
FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response...
0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
PRINCE LARRY L 2. Issuer Name and Ticker or Trading Symbol
SUNTRUST BANKS INC [ STI ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
2999 CIRCLE 75 PARKWAY 3. Date of Earliest Transaction (MM/DD/YYYY)
4/8/2009
(Street)
ATLANTA, GA 30339
(City) (State) (Zip) 4. If Amendment, Date Original Filed (MM/DD/YYYY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 22000 D
Common Stock 21090 I Spouse
Table II - Derivative Securities Beneficially Owned ( e.g.
, puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units (1) (1) 4/8/2009 A 138.5042 (1) (1) Common Stock 138.5042 $10.83 19072.4469 D
Option (2) $51.125 11/14/2000 11/14/2010 Common Stock 2000 2000 D
Option (2) $64.57 11/13/2001 11/13/2011 Common Stock 2000 2000 D
Option (2) $54.28 2/11/2003 2/11/2013 Common Stock 2000 2000 D
Phantom Stock (3) (3) (3) (3) Common Stock 6867.5096 6867.5096 D
Explanation of Responses:
(
1)
The phantom stock units were accrued under the SunTrust Banks, Inc. Directors Deferred Compensation Plan and are to be settled upon the reporting person's retirement. Directors fees are deferred into this plan and are accounted for as if invested in SunTrust common stock. These phantom stock units convert to common stock on a one-for-one basis.
(
2)
Granted pursuant to the SunTrust Banks, Inc. 2000 Stock Plan.
(
3)
Restricted stock units granted under the SunTrust Banks, Inc. 2004 Stock Plan. Payments commence following the reporting person's departure from the Board of Directors of SunTrust Banks, Inc. These securities convert to common stock on a one-for-one basis. Includes additional shares acquired as a result of reinvestment of dividends since the reporting person's last filing.
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