EX-25.1 6 dex251.htm STATEMENT OF ELIGIBILITY Statement of Eligibility

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY UNDER THE

TRUST INDENTURE ACT OF 1939 OF A CORPORATION

DESIGNATED TO ACT AS TRUSTEE

 

 

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE

PURSUANT TO SECTION 305(b)(2)  ¨

 

 

SUNTRUST BANK

(Exact name of trustee as specified in its charter)

 

 

303 Peachtree Street

30th Floor

Atlanta, Georgia

   30308   58-0466330
(Address of principal executive offices)   (Zip Code)   (I.R.S. employer identification no.)

 

 

Jack Ellerin

SunTrust Bank

25 Park Place, N.E.

24th Floor

Atlanta, Georgia 30303-2900

(404) 588-7296

(Name, address and telephone number of agent for service)

 

 

Smithfield Foods, Inc.

 

Virginia   52-0845861

(State or other jurisdiction of

incorporation or organization)

  

(IRS employer

identification no.)

200 Commerce Street

Smithfield, Virginia

   23430
(Address of principal executive offices)   (Zip Code)

 

 

Smithfield Foods, Inc. 7 3/4% Senior Notes, Series B

 

pursuant to Registration Statement No.     -            

(Title of the indenture securities)

 

1.   General information.

 

Furnish the following information as to the trustee-

 

Name and address of each examining or supervising authority to which it is subject.

 

Department of Banking and Finance,

State of Georgia

2990 Brandywine Road, Suite 200

Atlanta, Georgia 30341-5565

 

Federal Reserve Bank of Atlanta

1000 Peachtree Street, N.E.

Atlanta, Georgia 30309-4470

 

Federal Deposit Insurance Corporation

550 17th Street, N.W.

Washington, D.C. 20429-9990

 

Whether it is authorized to exercise corporate trust powers.

 

Yes.

 

2.   Affiliations with Obligor.

 

If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None.

 

3-12   No responses are included for Items 3 through 12. Responses to those Items are not required because, as provided in General Instruction B and as set forth in Item 13(b), the obligor is not in default on any securities issued under indentures under which SunTrust Bank is a trustee.

 

13.   Defaults by the Obligor.

 

  (a)   State whether there is or has been a default with respect to the securities under this indenture. Explain the nature of any such default.

 

There is not and has not been any default under this indenture.

 

  (b)   If the trustee is a trustee under another indenture under which any other securities, or certificates of interest or participation in any other securities, of the obligor are outstanding, or is trustee for more than one outstanding series of securities under the indenture, state whether there has been a default under any such indenture or series, identify the indenture or series affected, and explain the nature of any such default.

 

There has not been any such default.

 

2

14-15   No responses are included for Items 14 and 15. Responses to those Items are not required because, as provided in General Instruction (b) to Item 13, the obligor is not in default on any securities issued under indentures under which SunTrust Bank is a trustee.

 

16.   List of Exhibits.

 

List below all exhibits filed as a part of this statement of eligibility; exhibits identified in parentheses are filed with the Commission and are incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under the Trust Indenture Act of 1939, as amended, and Rule 24 of the Commission’s Rules of Practice.

 

  (1)   A copy of the Articles of Amendment and Restated Articles of Association of the trustee as now in effect.

 

  (2)   A copy of the certificate of authority of the trustee to commence business. (Included in Exhibit 1).

 

  (3)   A copy of the authorization of the trustee to exercise corporate trust powers. (Included in Exhibit 1).

 

  (4)   A copy of the existing by-laws of the trustee as now in effect.

 

  (5)   Not applicable.

 

  (6)   The consent of the trustee required by Section 321(b) of the Trust Indenture Act of 1939.

 

  (7)   A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority as of the close of business on June 30, 2003.

 

  (8)   Not applicable.

 

  (9)   Not applicable.

 

3

SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939 the trustee, SunTrust Bank, a banking corporation organized and existing under the laws of the State of Georgia, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Atlanta and the State of Georgia, on the     th day of August, 2003.

 

SUNTRUST BANK

By:

  

/s/ Jack Ellerin

   

Jack Ellerin

   

Assistant Vice President

 

4

EXHIBIT 1 TO FORM T-1

 

ARTICLES OF ASSOCIATION

OF

SUNTRUST BANK

 

(ATTACHED)

 

1

ARTICLES OF AMENDMENT AND

RESTATED ARTICLES OF INCORPORATION OF

SUNTRUST BANK

 

Pursuant to the Financial Institutions Code of Georgia, SunTrust Bank, a Georgia banking corporation (the “Bank”), submits Articles of Amendment and Restated Articles of Incorporation and shows as follows:

 

1.

 

The Bank was chartered by a special act of the General Assembly of Georgia approved on September 21, 1891 with banking and trust powers.

 

2.

 

The Bank’s main office is located at 303 Peachtree Street, N.E., Atlanta, Fulton County, Georgia, 30308.

 

3.

 

By a written consent and waiver of notice dated March 4, 2002, the sole shareholder of the 4,320,000 shares of Common Stock then outstanding and entitled to vote did authorize, approve and adopt these Articles of Amendment and Restated Articles of Incorporation of the Bank, as submitted by a Resolution of the Board of Directors, and as set forth in Paragraph 4 below. The Bank has only two classes of stock authorized, its Common Stock and its Preferred Stock, of which only one class, its Common Stock, is issued and outstanding on the date hereof.

 

4.

 

The Articles of Incorporation of the Bank shall be amended by authorizing the issuance of Series C Non-Cumulative Preferred Stock in Article VI, and by restating in their entirety the Articles of Incorporation, as heretofore amended, and substituting therefor in all respects, the Restated Articles of Incorporation as follows:

RESTATED

ARTICLES OF INCORPORATION

OF

 

SUNTRUST BANK

 

Article I

 

The name of the bank is SunTrust Bank (the “Bank”).

 

Article II

 

The Bank is organized pursuant to the provisions of the Financial Institutions Code of Georgia.

 

Article III

 

The Bank shall have perpetual duration.

 

Article IV

 

The principal place of business of the Bank is located in Atlanta, Fulton County, Georgia, and the Bank may establish branches or agencies at other places in Georgia or elsewhere. The address of the main office of the Bank is 303 Peachtree Street, N.E., Atlanta, Fulton County, Georgia 30308.

 

Article V

 

The purposes for which the Bank is organized are to act as a bank and as a trust company and to enjoy and be subject to the powers and restrictions of a bank and a trust company under the laws of the State of Georgia, and to conduct any other businesses, to exercise any powers, and to engage in any other activities not specifically prohibited to corporations organized to act as a bank and as a trust company under the laws of the State of Georgia.

 

Article VI

 

Section 6.01. The aggregate number of common shares which the Bank has authority to issue is 4,750,000, all of which are of one class only, each such share having a par value of $5.00 (the “Common Stock”). The Bank shall also have authority to issue 100,000 shares of preferred stock, par value $1,000 per share (the “Preferred Stock”).

 

Section 6.02. Pursuant to the provisions of this Article VI, a series of Preferred Stock, all designated as the Series A Non-Cumulative Preferred Stock, consisting of 1,000 shares, is hereby established and authorized to be issued, and in addition to such matters specified elsewhere in this Article VI, such Series A Non-Cumulative Preferred Stock shall have the following powers, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions:

 

(a) Designation and Amount. The shares of such series of Preferred Stock shall be designated as the Series A Non-Cumulative Preferred Stock (“Series A Preferred Stock”), and the number of shares

constituting the Series A Preferred Stock shall be 1,000. The liquidation preference of the Series A Preferred Stock shall be $100,000 per share (“Series A Liquidation Value”).

 

(b) Maturity. The Series A Preferred Stock has no stated maturity and will not be subject to any sinking fund or mandatory redemption.

 

(c) Rank. The Series A Preferred Stock shall, with respect to dividend rights and upon liquidation, dissolution and winding up of the Bank, rank (i) senior to all classes and series of Common Stock of the Bank and to all classes and series of equity securities of the Bank now or hereafter authorized, issued or outstanding, which by their terms expressly provide that they are junior to the Series A Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank, or which do not specify their rank (collectively with the Common Stock, the “Series A Junior Securities”); (ii) on a parity with the Series B Preferred Stock and each other class or series of equity securities issued by the Bank after the date hereof, the terms of which specifically provide that such class or series will rank on a parity with the Series A Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank (collectively with the Series B Preferred Stock, the “Series A Parity Securities”); and (iii) junior to each other class or series of equity securities issued by the Bank after the date hereof, the terms of which specifically provide that such class or series will rank senior to the Series A Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank (collectively, the “Series A Senior Securities”), provided that any such Series A Senior Securities and Series A Parity Securities issued after the date hereof that are not approved by the holders of Series A Preferred Stock as required by Section 6.02(i)(i)(D) hereof shall be deemed to be Series A Junior Securities and not Series A Senior Securities or Series A Parity Securities, as the case may be.

 

(d) Dividends. Dividends are payable on the Series A Preferred Stock as follows:

 

(i) The holders of shares of the Series A Preferred Stock in preference to the Series A Junior Securities shall be entitled to receive, out of funds legally available for that purpose, and when, as, and if declared by the Board of Directors of the Bank, preferential non-cumulative dividends payable in cash at the annual rate of nine percent (9.00%) of the Series A Liquidation Value (the “Series A Dividend Rate”).

 

(ii) Dividends on the Series A Preferred Stock shall be non-cumulative. Dividends not paid on any Series A Dividend Payment Date shall not accumulate thereafter. Dividends shall accumulate from the first day of any Series A Dividend Period to but excluding the immediately succeeding Series A Dividend Payment Date. Dividends, if and when declared, shall be payable in arrears in cash on each Series A Dividend Payment Date of each year with respect to the Series A Dividend Period ending on the day immediately prior to such Series A Dividend Payment Date at the Series A Dividend Rate to holders of record at the close of business on the applicable Record Date, commencing on March 31, 2001 with respect to any shares of Series A Preferred Stock issued prior to that Series A Dividend Payment Date; provided that dividends payable on the Series A Preferred Stock on the initial Series A Dividend Payment Date (and any dividend payable for a period less than a full semiannual period) shall be prorated for the period and computed on the basis of a 360-day year of twelve 30-day months and the actual number of days in such Series A Dividend Period; and provided, further, that dividends payable on the Series A Preferred Stock on the initial Series A Dividend Payment Date shall include any accumulated and unpaid dividends on the Series B Non-Cumulative Exchangeable Preferred Stock of the Corporation exchanged for the Series A Preferred Stock as of the Exchange Date for the then current dividend period. Dividends on such Series A Preferred Stock shall be paid only in cash.

 

(iii) No dividends on shares of Series A Preferred Stock shall be declared by the Board of Directors or paid or set apart for payment by the Board of Directors or paid or set apart for payment by the Bank at such time as the terms and provisions of any agreement of the Bank, including any agreement relating to its indebtedness, prohibits such declaration, payment or setting apart for payment or provides that such declaration, payment or setting apart for payment

would constitute a breach thereof or a default thereunder, or if such declaration or payment shall be restricted or prohibited by law.

 

(iv) Holders of shares of Series A Preferred Stock shall not be entitled to any dividends in excess of full non-cumulative dividends declared, as herein provided, on the shares of Series A Preferred Stock. No interest, or sum of money in lieu of interest, shall be payable in respect of any dividend payment on the shares of Series A Preferred Stock that may be in arrears.

 

(v) (A) So long as any shares of Series A Preferred Stock are outstanding, no dividends shall be declared, paid or set aside for payment or other distribution upon any Series A Junior Securities (other than dividends or distributions paid in shares of, or options, warrants or rights to subscribe for or purchase shares of, Series A Junior Securities and other than as provided in clause (B) below), nor shall any shares of any Series A Junior Securities or any Series A Parity Securities be redeemed, purchased or otherwise acquired for any consideration (or any moneys be paid to or set aside or made available for a sinking fund for the redemption of any shares of any such stock) by the Bank (except by conversion into or exchange for shares of, or options, warrants or rights to subscribe for or purchase, Series A Junior Securities) whenever, in each case, full non-cumulative dividends on all outstanding shares of the Series A Preferred Stock for the related Series A Dividend Period shall not have been declared and paid, when due, for the two consecutive Series A Dividend Periods terminating on or immediately prior to the date of payment in respect of such dividend, distribution, redemption, purchase or acquisition.

 

(B) When dividends for any dividend period are not paid in full, as provided in clause (A) above, on the shares of the Series A Preferred Stock or any Series A Parity Securities, dividends may be declared and paid on any such shares for any dividend period therefor, but only if such dividends are declared and paid pro rata so that the amount of dividends declared and paid per share on the shares of the Series A Preferred Stock and any Series A Parity Securities, in all cases shall bear to each other the same ratio that the amount of unpaid dividends per share on the shares of the Series A Preferred Stock for such Series A Dividend Period and such Series A Parity Securities for the corresponding dividend period bear to each other.

 

(e) Liquidation Preference.

 

(i) In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Bank, the holders of shares of Series A Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Bank available for distribution to its stockholders an amount in cash equal to the Series A Liquidation Value for each share outstanding, plus an amount in cash equal to all accumulated and unpaid dividends thereon for the then current Series A Dividend Period, whether or not earned or declared, before any payment shall be made or any assets distributed to the holders of Series A Junior Securities. If the assets of the Bank are not sufficient to pay in full the liquidation payments payable to the holders of outstanding shares of the Series A Preferred Stock and any Series A Parity Securities, then the holders of all such shares shall share ratably in such distribution of assets in accordance with the amount which would be payable on such distribution if the amounts to which the holders of outstanding shares of Series A Preferred Stock and the holders of outstanding shares of such Series A Parity Securities are entitled were paid in full. After payment of the full amount of the liquidation preference, plus any accumulated and unpaid dividends for the then current Series A Dividend Period, to which holders of Series A Preferred Stock are entitled, holders of Series A Preferred Stock will have no right or claim to any remaining assets of the Bank.

(ii) For the purpose of this Section 6.02(e), neither the voluntary sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property or assets of the Bank, nor the consolidation or merger of the Bank, shall be deemed to be a voluntary or involuntary liquidation, dissolution or winding up of the Bank, unless such voluntary sale, conveyance, exchange or transfer shall be in connection with a plan of liquidation, dissolution or winding up of the Bank.

 

(f) Redemption. The Series A Preferred Stock is not redeemable prior to March 31, 2021. On or after such date, the Series A Preferred Stock shall be redeemable, in whole or in part, at the option of the Bank, but only with the prior written approval of the Federal Reserve and, if such approval is then required under any applicable law, rule, guideline or policy, with the prior written approval of the Georgia Department of Banking and Finance, for cash out of any source of funds legally available, at a redemption price equal to 100% of the Series A Liquidation Value per share plus unpaid dividends thereon accumulated since the immediately preceding Series A Dividend Payment Date (the “Series A Redemption Price”). Any date of such redemption is referred to as the “Series A Redemption Date.” If fewer than all the outstanding shares of Series A Preferred Stock are to be redeemed, the Bank will select those to be redeemed by lot or pro rata or by any other method as may be determined by the Board of Directors to be equitable.

 

(g) Procedure for Redemption.

 

(i) Upon redemption of the Series A Preferred Stock pursuant to Section 6.02(f) hereof, notice of such redemption (a “Series A Notice of Redemption”) shall be mailed by first-class mail, postage prepaid, not less than 30 days nor more than 60 days prior to the Series A Redemption Date to the holders of record of the shares to be redeemed at their respective addresses as they shall appear in the records of the Bank; provided, however, that failure to give such notice or any defect therein or in the mailing thereof shall not affect the validity of the proceeding for the redemption of any shares so to be redeemed except as to the holder to whom the Bank has failed to give such notice or except as to the holder to whom notice was defective. Each such notice shall state: (A) the Series A Redemption Date; (B) the Series A Redemption Price; (C) the place or places where certificates for such shares are to be surrendered for payment of the Series A Redemption Price; and (D) the CUSIP number of the shares being redeemed.

 

(ii) If a Series A Notice of Redemption shall have been given as aforesaid and the Bank shall have deposited on or before the Redemption Date a sum sufficient to redeem the shares of Series A Preferred Stock as to which a Series A Notice of Redemption has been given in trust with the Transfer Agent with irrevocable instructions and authority to pay the Series A Redemption Price to the holders thereof, or if no such deposit is made, then upon the Series A Redemption Date (unless the Bank shall default in making payment of the Series A Redemption Price), all rights of the holders thereof as stockholders of the Bank by reason of the ownership of such shares (except their right to receive the Series A Redemption Price thereof without interest) shall cease and terminate, and such shares shall no longer be deemed outstanding for any purpose. The Bank shall be entitled to receive, from time to time, from the Transfer Agent the interest, if any, earned on such moneys deposited with it, and the holders of any shares so redeemed shall have no claim to any such interest. In case the holder of any shares of Series A Preferred Stock so called for redemption shall not claim the Series A Redemption Price for its shares within six months after the related Series A Redemption Date, the Transfer Agent shall, upon demand, pay over to the Bank such amount remaining on deposit, and the Transfer Agent shall thereupon be

relieved of all responsibility to the holder of such shares, and such holder shall look only to the Bank for payment thereof.

 

(iii) Not later than 1:30 p.m., Eastern Standard Time, on the Business Day immediately preceding the Series A Redemption Date, the Bank shall irrevocably deposit with the Transfer Agent sufficient funds for the payment of the Series A Redemption Price for the shares to be redeemed on the Series A Redemption Date and shall give the Transfer Agent irrevocable instructions to apply such funds, and, if applicable and so specified in the instructions, the income and proceeds therefrom, to the payment of such Series A Redemption Price. The Bank may direct the Transfer Agent to invest any such available funds, provided that the proceeds of any such investment will be available to the Transfer Agent in Atlanta, Georgia at the opening of business on such Series A Redemption Date.

 

(iv) Except as otherwise expressly set forth in this Section 6.02(g), nothing contained in these Restated Articles of Incorporation shall limit any legal right of the Bank to purchase or otherwise acquire any shares of Series A Preferred Stock at any price, whether higher or lower than the Series A Redemption Price, in private negotiated transactions, the over-the-counter market or otherwise.

 

(v) If the Bank shall not have funds legally available for the redemption of all of the shares of Series A Preferred Stock on any Series A Redemption Date, the Bank shall redeem on the Series A Redemption Date only the number of shares of Series A Preferred Stock as it shall have legally available funds to redeem, as determined in an equitable manner, and the remainder of the shares of Series A Preferred Stock shall be redeemed, at the option of the Bank, on the earliest practicable date next following the day on which the Bank shall first have funds legally available for the redemption of such shares.

 

(h) Reacquired Shares. Shares of the Series A Preferred Stock that have been redeemed, purchased or otherwise acquired by the Bank are not subject to reissuance or resale as shares of Series A Preferred Stock and shall be held in treasury. Such shares shall revert to the status of authorized but unissued shares of preferred stock, undesignated as to series, until the Board of Directors of the Bank shall designate them again for issuance as part of a series.

 

(i) Voting Rights. Holders of Series A Preferred Stock will not have any voting rights, except as otherwise from time to time required by law and except as follows:

 

(i) In addition to any vote or consent of stockholders required by law, the approval of the holders of two-thirds of the outstanding shares of Series A Preferred Stock, voting as a class, shall be required for the Bank: (A) to amend, alter or repeal any of the provisions of these Restated Articles of Incorporation in any manner that would alter or change the powers, preferences or special rights of the shares of Series A Preferred Stock so as to materially and adversely affect them, except as permitted in Section 6.02(j)(i)(A); (B) to authorize the merger, consolidation, or reclassification of the Bank with or into another Person, except as permitted in Section 6.02(j)(i)(B); (C) to dissolve, liquidate or wind up the affairs of the Bank; and (D) to authorize or issue, or obligate itself to authorize or issue, any Series A Senior Securities or any Series A Parity Securities unless, for purposes of this clause (D) only, the Bank shall have received written notice from each of the Rating Agencies, and delivered a copy of such written notice to the Transfer Agent, confirming that any such issuance will not result in a reduction of the rating assigned by any of such Rating Agencies to the Series A Preferred Stock then outstanding.

 

(ii) If at any time dividends on the Series A Preferred Stock or any Series A Parity Securities shall not have been declared and paid in an amount equal to three semiannual dividends, whether consecutive or not, the number of directors constituting the Board of Directors of the Bank shall be increased by two and the holders of the Series A Preferred Stock and any Series A Parity Securities with similar voting rights, voting together as a single class, shall be entitled to

elect two additional persons to fill such newly created directorships. The directors so elected shall meet the qualifications set forth in the Bank’s bylaws and any applicable statutory or regulatory qualifications. At such time as dividends for at least two consecutive Series A Dividend Periods have been fully paid or set apart for full payment on the outstanding Series A Preferred Stock and any Series A Parity Securities with similar voting rights, the rights of such holders to vote for the election of directors as provided in this Section 6.02(i)(ii) shall cease and such directors shall no longer serve on the Board of Directors of the Bank, subject to renewal from time to time in the event of each and every subsequent default in the aggregate amount equivalent of three full semiannual dividends.

 

During any period when the holders of the Series A Preferred Stock and any Series A Parity Securities have the right to vote as a class for directors as provided above, the directors so elected by the holders of the Series A Preferred Stock and any Series A Parity Securities with similar voting rights shall continue in office until their successors shall have been elected or until termination of the right of the holders of the Series A Preferred Stock and any Series A Parity Securities to vote as a class for directors. For purposes of the foregoing, the holders of the Series A Preferred Stock and any Series A Parity Securities shall vote in proportion to their respective liquidation preference of the shares of such stock held by them.

 

(iii) With respect to any right of the holders of shares of Series A Preferred Stock to vote on any matter, whether such right is created by this Section 6.02(i), by applicable law or otherwise, no holder of any share of Series A Preferred Stock shall be entitled to vote, and no share of Series A Preferred Stock shall be deemed to be outstanding for the purpose of voting or determining the number of shares required to constitute a quorum, if prior to or concurrently with a determination of shares entitled to vote or of shares deemed outstanding for quorum purposes, as the case may be, funds sufficient for the redemption of such shares are irrevocably deposited with the Transfer Agent and a Series A Notice of Redemption has been given by the Bank or an affiliate thereof to the holders of the Series A Preferred Stock.

 

(j) Covenants. So long as any shares of Series A Preferred Stock are outstanding, the Bank covenants and agrees with and for the benefit of the holders of shares of Series A Preferred Stock that:

 

(i) the Bank shall not, without the affirmative vote or consent of holders of two-thirds of the number of shares of Series A Preferred Stock then outstanding, voting as a separate class:

 

(A) amend, alter or repeal any provisions of these Restated Articles of Incorporation (existing prior to and at the time of such vote) so as to materially and adversely affect the rights, preferences, privileges or restrictions of the holders of Series A Preferred Stock, except that this subsection (A) shall not apply to steps taken by the Bank to issue and the issuance of other preferred stock by the Bank; or

 

(B) consolidate, merge, or reclassify with or into any other Person, or permit any merger of another Person into the Bank, or enter into a voluntary liquidation or voluntary dissolution of the Bank or enter into a share exchange with another Person, except that (1) the Bank may consolidate, merge or reclassify with or into another Person or enter into a share exchange with another Person if such other Person is a consolidated subsidiary (in accordance with generally accepted accounting principles) of SunTrust Banks, Inc., or (2) the Bank may consolidate, merge, or reclassify with or into another Person or enter into a share exchange with another Person if (a) such other Person is a Depository Institution or corporation organized under the laws of the United States or of a state of the United States, (b) such other Person expressly assumes all obligations and commitments of the Bank pursuant to such consolidation, merger, reclassification or share exchange, (c) the outstanding shares of Series A Preferred Stock are exchanged for, reclassified as or converted into shares of the surviving Depository Institution or corporation which have preferences, limitations and relative voting and other rights substantially identical to those of the Series A Preferred Stock, (d) after giving effect to such merger,

consolidation, reclassification or share exchange, no default, or event which with the giving of notice or passage of time or both could become a default by the Bank of its obligations under these Restated Articles of Incorporation, shall have occurred and be continuing, and (e) the Bank shall have received written notice from each of the Rating Agencies, and delivered a copy of such written notice to the Transfer Agent, confirming that such merger, consolidation, reclassification or share exchange will not result in a reduction of the rating assigned by any of such Rating Agencies to the Series A Preferred Stock then outstanding; provided that, for purposes of this subsection (B)(2), the Bank shall have delivered to the Transfer Agent and caused to be mailed to each holder of record of Series A Preferred Stock, at least thirty days prior to any such merger, consolidation, reclassification or share exchange becoming effective, a notice describing such merger, consolidation, reclassification or share exchange, together with an Officers’ Certificate and an Opinion of Counsel, each stating that such merger, consolidation, reclassification or share exchange complies with the requirements of these Restated Articles of Incorporation and that all conditions precedent herein provided for relating to such transaction have been complied with.

 

(ii) the Bank will not issue additional shares of Series A Senior Securities or Series A Parity Securities unless the Bank shall have received written notice from each of the Rating Agencies, and delivered a copy of such written notice to the Transfer Agent, confirming that any such issuance will not result in a reduction of the rating assigned by any of such Rating Agencies to the Series A Preferred Stock then outstanding.

 

Section 6.03. Pursuant to the provisions of this Article VI, a series of Preferred Stock, all designated as the Series B Non-Cumulative Preferred Stock, consisting 9,000 shares, is hereby established and authorized to be issued, and in addition to such matters specified elsewhere in this Article VI, such Series B Non-Cumulative Preferred Stock shall have the following powers, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions:

 

(a) Designation and Amount. The shares of such series of Preferred Stock shall be designated as the Series B Non-Cumulative Preferred Stock (“Series B Preferred Stock”), and the number of shares constituting the Series B Preferred Stock shall be 9,000. The liquidation preference of the Series B Preferred Stock shall be $100,000 per share (“Series B Liquidation Value”).

 

(b) Maturity. The Series B Preferred Stock has no stated maturity and will not be subject to any sinking fund or mandatory redemption.

 

(c) Rank. The Series B Preferred Stock shall, with respect to dividend rights and upon liquidation, dissolution and winding up of the Bank, rank (i) senior to all classes and series of Common Stock of the Bank and to all classes and series of equity securities of the Bank now or hereafter authorized, issued or outstanding, which by their terms expressly provide that they are junior to the Series B Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank, or which do not specify their rank (collectively with the Common Stock, the “Series B Junior Securities”); (ii) on a parity with the Series A Preferred Stock and each other class or series of equity securities issued by the Bank after the date hereof, the terms of which specifically provide that such class or series will rank on a parity with the Series B Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank (collectively with the Series A Preferred Stock, the “Series B Parity Securities”); and (iii) junior to each other class or series of equity securities issued by the Bank after the date hereof, the terms of which specifically provide that such class or series will rank senior to the Series B Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank (collectively, the “Series B Senior Securities”), provided that any such Series B Senior Securities or Series B Parity Securities issued after the date hereof that are not approved by the holders of Series B Preferred Stock as required by Section 6.03(i)(i)(D) hereof shall be deemed to be Series B Junior Securities and not Series B Senior Securities or Series B Parity Securities, as the case may be.

(d) Dividends. Dividends are payable on the Series B Preferred Stock as follows:

 

(i) The holders of shares of the Series B Preferred Stock in preference to the Series B Junior Securities shall be entitled to receive, out of funds legally available for that purpose, and when, as, and if declared by the Board of Directors of the Bank, preferential non-cumulative dividends payable in cash in an amount determined by applying the annual rate of LIBOR plus 200 basis points to the Series B Liquidation Value (the “Series B Dividend Rate”).

 

(ii) Dividends on the Series B Preferred Stock shall be non-cumulative. Dividends not paid on any Series B Dividend Payment Date shall not accumulate thereafter. Dividends shall accumulate from the first day of any Series B Dividend Period to but excluding the immediately succeeding Series B Dividend Payment Date. Dividends, if and when declared, shall be payable in arrears in cash on each Series B Dividend Payment Date of each year with respect to the Series B Dividend Period ending on the day immediately prior to such Series B Dividend Payment Date at the Series B Dividend Rate per share to holders of record at the close of business on the applicable Record Date, commencing on the Exchange Date with respect to any shares of Series B Preferred Stock issued prior to that Series B Dividend Payment Date; provided that dividends payable on the Series B Preferred Stock on the initial Series B Dividend Payment Date (and any dividend payable for a period less than a full quarterly period) shall be prorated for the period and computed on the basis of a 360-day year and the actual number of days in such Series B Dividend Period; and provided, further, that dividends payable on the Series B Preferred Stock on the initial Series B Dividend Payment Date shall include any accumulated and unpaid dividends on the Series C Non-Cumulative Exchangeable Preferred Stock of the Corporation exchanged for the Series B Preferred Stock as of the Exchange Date for the then current dividend period. Dividends on such Series B Preferred Stock shall be paid only in cash.

 

(iii) No dividends on shares of Series B Preferred Stock shall be declared by the Board of Directors or paid or set apart for payment by the Board of Directors or paid or set apart for payment by the Bank at such time as the terms and provisions of any agreement of the Bank, including any agreement relating to its indebtedness, prohibits such declaration, payment or setting apart for payment or provides that such declaration, payment or setting apart for payment would constitute a breach thereof or a default thereunder, or if such declaration or payment shall be restricted or prohibited by law.

 

(iv) Holders of shares of Series B Preferred Stock shall not be entitled to any dividends in excess of full non-cumulative dividends declared, as herein provided, on the shares of Series B Preferred Stock. No interest, or sum of money in lieu of interest, shall be payable in respect of any dividend payment on the shares of Series B Preferred Stock that may be in arrears.

 

(v) (A) So long as any shares of Series B Preferred Stock are outstanding, no dividends shall be declared, paid or set aside for payment or other distribution upon any Series B Junior Securities (other than dividends or distributions paid in shares of, or options, warrants or rights to subscribe for or purchase shares of, Series B Junior Securities and other than as provided in clause (B) below), nor shall any shares of any Series B Junior Securities or any Series B Parity Securities be redeemed, purchased or otherwise acquired for any consideration (or any moneys be paid to or set aside or made available for a sinking fund for the redemption of any shares of any such stock) by the Bank (except by conversion into or exchange for shares of, or options, warrants or rights to subscribe for or purchase, Series B Junior Securities) whenever, in each case, full non-cumulative dividends on all outstanding shares of the Series B Preferred Stock for the related Series B Dividend Period shall not have been declared and paid, when due, for the four consecutive Series B Dividend Periods

terminating on or immediately prior to the date of payment in respect of such dividend, distribution, redemption, purchase or acquisition.

 

(B) When dividends for any dividend period are not paid in full, as provided in clause (A) above, on the shares of the Series B Preferred Stock or any Series B Parity Securities, dividends may be declared and paid on any such shares for any dividend period therefor, but only if such dividends are declared and paid pro rata so that the amount of dividends declared and paid per share on the shares of the Series B Preferred Stock and any Series B Parity Securities, in all cases shall bear to each other the same ratio that the amount of unpaid dividends per share on the shares of the Series B Preferred Stock for such Series B Dividend Period and such Series B Parity Securities for the corresponding dividend period bear to each other.

 

(e) Liquidation Preference.

 

(i) In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Bank, the holders of shares of Series B Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Bank available for distribution to its stockholders an amount in cash equal to the Series B Liquidation Value for each share outstanding, plus an amount in cash equal to all accumulated and unpaid dividends thereon for the then current Series B Dividend Period, whether or not earned or declared, before any payment shall be made or any assets distributed to the holders of Series B Junior Securities. If the assets of the Bank are not sufficient to pay in full the liquidation payments payable to the holders of outstanding shares of the Series B Preferred Stock and any Series B Parity Securities, then the holders of all such shares shall share ratably in such distribution of assets in accordance with the amount which would be payable on such distribution if the amounts to which the holders of outstanding shares of Series B Preferred Stock and the holders of outstanding shares of such Series B Parity Securities are entitled were paid in full. After payment of the full amount of the liquidation preference, plus any accumulated and unpaid dividends for the then current Series B Dividend Period, to which holders of Series B Preferred Stock are entitled, holders of Series B Preferred Stock will have no right or claim to any remaining assets of the Bank.

 

(ii) For the purpose of this Section 6.03(e), neither the voluntary sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property or assets of the Bank, nor the consolidation or merger of the Bank, shall be deemed to be a voluntary or involuntary liquidation, dissolution or winding up of the Bank, unless such voluntary sale, conveyance, exchange or transfer shall be in connection with a plan of liquidation, dissolution or winding up of the Bank.

 

(f) Redemption. The Series B Preferred Stock is not redeemable prior to March 31, 2011. On March 31, 2011 and on each Series B Dividend Payment Date thereafter, the Series B Preferred Stock shall be redeemable, in whole or in part, at the option of the Bank, but with the prior written approval of the Federal Reserve and, if approval is then required under any applicable law, rule, guideline or policy, the Georgia Department of Banking and Finance, for cash out of any source of funds legally available, at a redemption price equal to 100% of the Series B Liquidation Value per share plus unpaid dividends thereon accumulated since the immediately preceding Series B Dividend Payment Date (the “Series B Redemption Price”). Any date of such redemption is referred to as the “Series B Redemption Date.” If fewer than all

the outstanding shares of Series B Preferred Stock are to be redeemed, the Bank will select those to be redeemed by lot or pro rata or by any other method as may be determined by the Board of Directors to be equitable.

 

(g) Procedure for Redemption.

 

(i) Upon redemption of the Series B Preferred Stock pursuant to Section 6.03(f) hereof, notice of such redemption (a “Series B Notice of Redemption”) shall be mailed by first-class mail, postage prepaid, not less than 30 days nor more than 60 days prior to the Series B Redemption Date to the holders of record of the shares to be redeemed at their respective addresses as they shall appear in the records of the Bank; provided, however, that failure to give such notice or any defect therein or in the mailing thereof shall not affect the validity of the proceeding for the redemption of any shares so to be redeemed except as to the holder to whom the Bank has failed to give such notice or except as to the holder to whom notice was defective. Each such notice shall state: (A) the Series B Redemption Date; (B) the Series B Redemption Price; (C) the place or places where certificates for such shares are to be surrendered for payment of the Series B Redemption Price; and (D) the CUSIP number of the shares being redeemed.

 

(ii) If a Series B Notice of Redemption shall have been given as aforesaid and the Bank shall have deposited on or before the Redemption Date a sum sufficient to redeem the shares of Series B Preferred Stock as to which a Series B Notice of Redemption has been given in trust with the Transfer Agent with irrevocable instructions and authority to pay the Series B Redemption Price to the holders thereof, or if no such deposit is made, then upon the Series B Redemption Date (unless the Bank shall default in making payment of the Series B Redemption Price), all rights of the holders thereof as stockholders of the Bank by reason of the ownership of such shares (except their right to receive the Series B Redemption Price thereof without interest) shall cease and terminate, and such shares shall no longer be deemed outstanding for any purpose. The Bank shall be entitled to receive, from time to time, from the Transfer Agent the interest, if any, earned on such moneys deposited with it, and the holders of any shares so redeemed shall have no claim to any such interest. In case the holder of any shares of Series B Preferred Stock so called for redemption shall not claim the Series B Redemption Price for its shares within six months after the related Series B Redemption Date, the Transfer Agent shall, upon demand, pay over to the Bank such amount remaining on deposit, and the Transfer Agent shall thereupon be relieved of all responsibility to the holder of such shares, and such holder shall look only to the Bank for payment thereof.

 

(iii) Not later than 1:30 p.m., Eastern Standard Time, on the Business Day immediately preceding the Series B Redemption Date, the Bank shall irrevocably deposit with the Transfer Agent sufficient funds for the payment of the Series B Redemption Price for the shares to be redeemed on the Series B Redemption Date and shall give the Transfer Agent irrevocable instructions to apply such funds, and, if applicable and so specified in the instructions, the income and proceeds therefrom, to the payment of such Series B Redemption Price. The Bank may direct the Transfer Agent to invest any such available funds, provided that the proceeds of any such investment will be available to the Transfer Agent in Atlanta, Georgia at the opening of business on such Series B Redemption Date.

 

(iv) Except as otherwise expressly set forth in this Section 6.03(g), nothing contained in these Restated Articles of Incorporation shall limit any legal right of the Bank to purchase or otherwise acquire any shares of Series B Preferred Stock at any price, whether higher

or lower than the Series B Redemption Price, in private negotiated transactions, the over-the-counter market or otherwise.

 

(v) If the Bank shall not have funds legally available for the redemption of all of the shares of Series B Preferred Stock on any Series B Redemption Date, the Bank shall redeem on the Series B Redemption Date only the number of shares of Series B Preferred Stock as it shall have legally available funds to redeem, as determined in an equitable manner, and the remainder of the shares of Series B Preferred Stock shall be redeemed, at the option of the Bank, on the earliest practicable date next following the day on which the Bank shall first have funds legally available for the redemption of such shares.

 

(h) Reacquired Shares. Shares of the Series B Preferred Stock that have been redeemed, purchased or otherwise acquired by the Bank are not subject to reissuance or resale as shares of Series B Preferred Stock and shall be held in treasury. Such shares shall revert to the status of authorized but unissued shares of preferred stock, undesignated as to series, until the Board of Directors of the Bank shall designate them again for issuance as part of a series.

 

(i) Voting Rights. Holders of Series B Preferred Stock will not have any voting rights, except as otherwise from time to time required by law and except as follows:

 

(i) In addition to any vote or consent of stockholders required by law, the approval of the holders of two-thirds of the outstanding shares of Series B Preferred Stock, voting as a class, shall be required for the Bank: (A) to amend, alter or repeal any of the provisions of these Restated Articles of Incorporation in any manner that would alter or change the powers, preferences or special rights of the shares of Series B Preferred Stock so as to materially and adversely affect them, except as permitted in Section 6.03(j)(i)(A); (B) to authorize the merger, consolidation, or reclassification of the Bank with or into another Person, except as permitted in Section 6.03(j)(i)(B); (C) to dissolve, liquidate or wind up the affairs of the Bank; and (D) to authorize or issue, or obligate itself to authorize or issue, any Series B Senior Securities or Series B Parity Securities, unless, for purposes of this clause (D), the Bank shall have received written notice from each of the Rating Agencies, and delivered a copy of such written notice to the Transfer Agent, confirming that any such issuance of Series B Parity Securities will not result in a reduction of the rating assigned by any of such Rating Agencies to the Series B Preferred Stock then outstanding.

 

(ii) If at any time dividends on the Series B Preferred Stock or any Series B Parity Securities shall not have been declared and paid in an amount equal to six quarterly dividends, whether consecutive or not, the number of directors constituting the Board of Directors of the Bank shall be increased by two and the holders of the Series B Preferred Stock and any Series B Parity Securities with similar voting rights, voting together as a single class, shall be entitled to elect two additional persons to fill such newly created directorships. The directors so elected shall meet the qualifications set forth in the Bank’s bylaws and any applicable statutory or regulatory qualifications. At such time as dividends for at least four consecutive Series B Dividend Periods have been fully paid or set apart for full payment on the outstanding Series B Preferred Stock and any Series B Parity Securities with similar voting rights, the rights of such holders to vote for the election of directors as provided in this Section 6.03(i)(ii) shall cease and such directors shall no longer serve on the Board of Directors of the Bank, subject to renewal from time to time upon the same terms and conditions in the event of each and every subsequent default in the aggregate amount equivalent of six full quarterly dividends.

 

During any period when the holders of the Series B Preferred Stock and any Series B Parity Securities have the right to vote as a class for directors as provided above, the directors so elected by the holders of the Series B Preferred Stock and any Series B Parity Securities with

similar voting rights shall continue in office until their successors shall have been elected or until termination of the right of the holders of the Series B Preferred Stock and any Series B Parity Securities to vote as a class for directors. For purposes of the foregoing, the holders of the Series B Preferred Stock and any Series B Parity Securities shall vote in proportion to their respective liquidation preference of the shares of such stock held by them.

 

(iii) With respect to any right of the holders of shares of Series B Preferred Stock to vote on any matter, whether such right is created by this Section 6.03(i), by applicable law or otherwise, no holder of any share of Series B Preferred Stock shall be entitled to vote, and no share of Series B Preferred Stock shall be deemed to be outstanding for the purpose of voting or determining the number of shares required to constitute a quorum, if prior to or concurrently with a determination of shares entitled to vote or of shares deemed outstanding for quorum purposes, as the case may be, funds sufficient for the redemption of such shares are irrevocably deposited with the Transfer Agent and a Series B Notice of Redemption has been given by the Bank or an affiliate thereof to the holders of the Series B Preferred Stock.

 

(j) Covenants. So long as any shares of Series B Preferred Stock are outstanding, the Bank covenants and agrees with and for the benefit of the holders of shares of Series B Preferred Stock that:

 

(i) the Bank shall not, without the affirmative vote or consent of holders of two-thirds of the number of shares of Series B Preferred Stock then outstanding, voting as a separate class:

 

(A) amend, alter or repeal any provisions of these Restated Articles of Incorporation (existing prior to and at the time of such vote) so as to materially and adversely affect the rights, preferences, privileges or restrictions of the holders of Series B Preferred Stock, except that this subsection (A) shall not apply to steps taken by the Bank to issue and the issuance of other preferred stock by the Bank; or

 

(B) consolidate, merge, or reclassify with or into any other Person, or permit any merger of another Person into the Bank, or enter into a voluntary liquidation or voluntary dissolution of the Bank or enter into a share exchange with another Person, except that (1) the Bank may consolidate, merge or reclassify with or into another Person or enter into a share exchange with another Person if such other Person is a consolidated subsidiary (in accordance with generally accepted accounting principles) of SunTrust Banks, Inc., or (2) the Bank may consolidate, merge, or reclassify with or into another Person or enter into a share exchange with another Person if (a) such other Person is a Depository Institution or corporation organized under the laws of the United States or a state of the United States, (b) such other Person expressly assumes all obligations and commitments of the Bank pursuant to such consolidation, merger, reclassification or share exchange, (c) the outstanding shares of Series B Preferred Stock are exchanged for, reclassified as or converted into shares of the surviving Depository Institution or corporation which have preferences, limitations and relative voting and other rights substantially identical to those of the Series B Preferred Stock, (d) after giving effect to such merger, consolidation, reclassification or share exchange, no default, or event which with the giving of notice or passage of time or both could become a default by the Bank of its obligations under these Restated Articles of Incorporation, shall have occurred and be continuing, and (e) the Bank shall have received written notice from each of the Rating Agencies, and delivered a copy of such written notice to the Transfer Agent, confirming that such merger, consolidation, reclassification or share exchange will not result in a reduction of the rating assigned by any of such Rating Agencies to the Series B Preferred Stock then outstanding; provided that, for purposes of this subsection (B)(2), the Bank shall have delivered to the Transfer Agent and caused to be mailed to each holder of record of Series B Preferred Stock, at least thirty days prior to any such merger, consolidation, reclassification or share exchange becoming effective, a notice describing such merger, consolidation, reclassification or share exchange, together with an Officers’ Certificate and an Opinion of Counsel, each stating that such merger, consolidation, reclassification or share

exchange complies with the requirements of these Restated Articles of Incorporation and that all conditions precedent herein provided for relating to such transaction have been complied with.

 

(ii) The Bank covenants and agrees with and for the benefit of the holders of shares of Series B Preferred Stock that the Bank will not issue additional shares of Series B Senior Securities or Series B Parity Securities unless the Bank shall have received written notice from each of the Rating Agencies, and delivered a copy of such written notice to the Transfer Agent, confirming that any such issuance will not result in a reduction of the rating assigned by any of such Rating Agencies to the Series B Preferred Stock then outstanding.

 

Section 6.04. Definitions. For the purpose of Sections 6.02 and 6.03 hereof, the following terms shall have the meanings indicated:

 

“Business Day” means a day on which the New York Stock Exchange is open for trading and which is not a day on which banking institutions in The City of New York or Atlanta, Georgia are authorized or required by law or executive order to close.

 

“Calculation Agent” means any Person authorized by the Bank to determine the Series B Dividend Rate, which initially shall be the Bank.

 

“Corporation” means SunTrust Real Estate Investment Corporation, a Virginia corporation, or any successor thereto.

 

“Depository Institution” has the meaning given to such term in 12 U.S.C. § 1813(c)(i), or any successor thereto.

 

“Determination Date” means, with respect to any Series B Dividend Period, the date that is two London Business Days prior to the first day of such Series B Dividend Period.

 

“Dividend Payment Date” means, as the context requires, a Series A Dividend Payment Date or a Series B Dividend Payment Date.

 

“Exchange Date” means any date on which the Series B Non-Cumulative Exchangeable Preferred Stock of the Corporation is exchanged for the Series A Preferred Stock or any date on which the Series C Non-Cumulative Exchangeable Preferred Stock of the Corporation is exchanged for the Series B Preferred Stock

 

“Federal Reserve” means the Board of Governors of the Federal Reserve System, or any successor thereto.

 

“Issue Date” means, with respect to the Series A Preferred Stock, the first date on which shares of Series A Preferred Stock are issued and with respect to the Series B Preferred Stock, the first date on which shares of the Series B Preferred Stock are issued.

 

“LIBOR” means, with respect to a Series B Dividend Period relating to a Series B Dividend Payment Date (in the following order of priority):

 

(i) the rate (expressed as a percentage per annum) for Eurodollar deposits having a three-month maturity that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the related Determination Date;

(ii) if such rate does not appear on Telerate Page 3750 as of 11:00 a.m. (London time) on the related Determination Date, LIBOR will be the arithmetic mean (if necessary rounded upwards to the nearest whole multiple of .00001%) of the rates (expressed as percentages per annum) for Eurodollar deposits having a three-month maturity that appear on Reuters Monitor Money Rates Page LIBO (“Reuters Page LIBO”) as of 11:00 a.m. (London time) on such Determination Date;

 

(iii) if such rate does not appear on Reuters Page LIBO as of 11:00 a.m. (London time) on the related Determination Date, the Calculation Agent will request the principal London offices of four leading banks in the London interbank market of the Bank’s selection to provide such banks’ offered quotations (expressed as percentages per annum) to prime banks in the London interbank market for Eurodollar deposits having a three-month maturity as of 11:00 a.m. (London time) on such Determination Date. If at least two quotations are provided, LIBOR will be the arithmetic mean (if necessary rounded upwards to the nearest whole multiple of .00001%) of such quotations;

 

(iv) if fewer than two such quotations are provided as requested in clause (iii) above, the Calculation Agent will request four major New York City banks of the Bank’s selection to provide such banks’ offered quotations (expressed as percentages per annum) to leading European banks for loans in Eurodollars as of 11:00 a.m. (London time) on such Determination Date. If at least two such quotations are provided, LIBOR will be the arithmetic mean (if necessary rounded upwards to the nearest whole multiple of .00001%) of such quotations; and

 

(v) if fewer than two such quotations are provided as requested in clause (iv) above, LIBOR will be LIBOR determined with respect to the Series B Dividend Period immediately preceding such current Series B Dividend Period.

 

If the rate for Eurodollar deposits having a three-month maturity that initially appears on Telerate Page 3750 or Reuters Page LIBO, as the case may be, as of 11:00 a.m. (London time) on the related Determination Date is superseded on Telerate Page 3750 or Reuters Page LIBO, as the case may be, by a corrected rate before 12:00 noon (London time) on such Determination Date, the corrected rate as so substituted on the applicable page will be the applicable LIBOR for such Determination Date.

 

“London Business Day” means any day, other than a Saturday or Sunday, on which commercial banks and foreign exchange markets are open for business, including dealings in foreign exchange and foreign currency deposits, in London.

 

“Moody’s” means Moody’s Investors Service, Inc., or its successor, so long as such agency (or successor) is in the business of rating securities of the type of the Series A Preferred Stock or the Series B Preferred Stock.

 

“Officer’s Certificate” means a certificate signed by the President, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Bank.

 

“Opinion of Counsel” means a written opinion of counsel, who may be in-house counsel for the Bank.

 

“Person” means any individual, firm, Depository Institution or other entity and shall include any successor (by merger or otherwise) of such entity.

“Rating Agencies” means Moody’s (and any successor thereto), Standard & Poor’s (and any successor thereto) and any other nationally recognized statistical rating organizations assigning, at the Bank’s request, ratings to the shares of Series A Preferred Stock or Series B Preferred Stock.

 

“Record Date” means the 15th day of the month in which the applicable Dividend Payment Date falls for dividends declared by the Board of Directors.

 

“Series A Dividend Payment Date” means each March 31 and September 30 of each year.

 

“Series A Dividend Period” is the period from a Series A Dividend Payment Date to, but excluding, the next succeeding Series A Dividend Payment Date; provided, however, that the initial Series A Dividend Period is the period from the Issue Date of the Series B Preferred Stock to the next succeeding Series A Dividend Payment Date.

 

“Series A Dividend Rate” has the meaning set forth in Section 6.02(d)(i) hereof.

 

“Series A Junior Securities” has the meaning set forth in Section 6.02(c) hereof.

 

“Series A Liquidation Value” has the meaning set forth in Section 6.02(a) hereof.

 

“Series A Notice of Redemption” has the meaning set forth in Section 6.02(g)(i) hereof.

 

“Series A Parity Securities” has the meaning set forth in Section 6.02(c) hereof.

 

“Series A Preferred Stock” has the meaning set forth in Section 6.02(a) hereof.

 

“Series A Redemption Date” has the meaning set forth in Section 6.02(f) hereof.

 

“Series A Redemption Price” has the meaning set forth in Section 6.02(f) hereof.

 

“Series A Senior Securities” has the meaning set forth in Section 6.02(c) hereof.

 

“Series B Dividend Payment Date” means each March 31, June 30, September 30 and December 31 of each year.

 

“Series B Dividend Period” is the period from a Series B Dividend Payment Date to, but excluding, the next succeeding Series B Dividend Payment Date; provided, however, that the initial Series B Dividend Period is the period from the Issue Date of the Series B Preferred Stock to the next succeeding Series B Dividend Payment Date.

 

“Series B Dividend Rate” has the meaning set forth in Section 6.03(d)(i) hereof.

“Series B Junior Securities” has the meaning set forth in Section 6.03(c) hereof.

 

“Series B Liquidation Value” has the meaning set forth in Section 6.03(a) hereof.

 

“Series B Notice of Redemption” has the meaning set forth in Section 6.03(g)(i) hereof.

 

“Series B Parity Securities” has the meaning set forth in Section 6.03(c) hereof.

 

“Series B Preferred Stock” has the meaning set forth in Section 6.03(a) hereof.

 

“Series B Redemption Date” has the meaning set forth in Section 6.03(f) hereof.

 

“Series B Redemption Price” has the meaning set forth in Section 6.03(f) hereof.

 

“Series B Senior Securities” has the meaning set forth in Section 6.03(c) hereof.

 

“Standard & Poor’s” means Standard & Poor’s Ratings Group, a division of the McGraw-Hill Companies, Inc. or its successor, so long as such agency (or successor) is in the business of rating securities of the type of the Series A Preferred Stock or the Series B Preferred Stock.

 

“Transfer Agent” means a bank or trust company as may be appointed from time to time by the Board of Directors of the Bank, or a committee thereof, to act as transfer agent, paying agent and registrar of the Series A Preferred Stock and the Series B Preferred Stock.

 

Section 6.05. Pursuant to the provisions of this Article VI, a series of Preferred Stock, all designated as the Series C Non-Cumulative Preferred Stock, consisting of 500 shares, is hereby established and authorized to be issued, and in addition to such matters specified elsewhere in this Article VI, such Series C Non-Cumulative Preferred Stock shall have the following powers, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions:

 

(a) Designation and Amount. The shares of such series of Preferred Stock shall be designated as the Series C Non-Cumulative Preferred Stock (“Series C Preferred Stock”), and the number of shares constituting the Series C Preferred Stock shall be 500. The liquidation preference of the Series C Preferred Stock shall be $1,000,000 per share (“Series C Liquidation Value”).

 

(b) Maturity. The Series C Preferred Stock has no stated maturity and will not be subject to any sinking fund or mandatory redemption.

 

(c) Rank. The Series C Preferred Stock shall, with respect to dividend rights and upon liquidation, dissolution and winding up of the Bank, rank (i) senior to all classes and series of Common Stock of the Bank and to all classes and series of equity securities of the Bank now or hereafter authorized, issued or outstanding, which by their terms expressly provide that they are junior to the Series C Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank, or which do not specify their rank (collectively with the Common Stock, the “Series C Junior Securities”); (ii) on a parity with each other class or series of equity securities issued by the Bank after the date hereof, the terms of which specifically provide that such class or series will rank on a parity with the

Series C Preferred Stock as to dividend distributions and distribution upon the liquidation, dissolution or winding up of the Bank (the “Series C Parity Securities”); and (iii) junior to the Series A Preferred Stock, the Series B Preferred Stock and to each other class or series of equity securities issued by the Bank after the date hereof, the terms of which specifically provide that such class or series will rank senior to the Series C Preferred Stock as to dividend distributions and distributions upon the liquidation, dissolution or winding up of the Bank (collectively with the Series A Preferred Stock and the Series B Preferred Stock, the “Series C Senior Securities”).

 

(d) Dividends. Dividends are payable on the Series C Preferred Stock as follows:

 

(i) The holders of shares of the Series C Preferred Stock in preference to the Series C Junior Securities shall be entitled to receive, out of funds legally available for that purpose, and when, as, and if declared by the Board of Directors of the Bank, preferential non-cumulative dividends payable in cash at the annual rate of seven and one quarter percent (7.25%) of the Series C Liquidation Value (the “Series C Dividend Rate”).

 

(ii) Dividends on the Series C Preferred Stock shall be non-cumulative. Dividends not paid on any Series C Dividend Payment Date shall not accumulate thereafter. Dividends shall accumulate from the first day of any Series C Dividend Period to but excluding the immediately succeeding Series C Dividend Payment Date. Dividends, if and when declared, shall be payable in arrears in cash on each Series C Dividend Payment Date of each year with respect to the Series C Dividend Period ending on the day immediately prior to such Series C Dividend Payment Date as the Series C Dividend Rate to holders of record at the close of business on the applicable Record Date, commencing on September 15, 2002, with respect to any shares of Series C Preferred Stock issued prior to that Series C Dividend Payment Date; provided that any dividend payable for a period less than a full semiannual period shall be prorated for the period and computed on the basis of a 360-day year of twelve 30-day months and the actual number of days in such Series C Dividend Period; and provided, further, that dividends payable on the Series C Preferred Stock on the initial Series C Dividend Payment Date shall include any accumulated and unpaid dividends on the Non-Cumulative Exchangeable Preferred Stock of the Company exchanged for the Series C Preferred Stock as of the Exchange Date for the then current dividend period. Dividends on such Series C Preferred Stock shall be paid only in cash.

 

(iii) No dividends on shares of Series C Preferred Stock shall be declared by the Board of Directors or paid or set apart for payment by the Board of Directors or paid or set apart for payment by the Bank at such time as the terms and provisions of any agreement of the Bank, including any agreement relating to its indebtedness, prohibits such declaration, payment or setting apart for payment or provides that such declaration, payment or setting apart for payment would constitute a breach thereof or a default thereunder, or is such declaration or payment shall be restricted or prohibited by law.

 

(iv) Holders of shares of the Series C Preferred Stock shall not be entitled to any dividends in excess of full non-cumulative dividends declared, as herein provided, on the shares of Series C Preferred Stock. No interest, or sum of money in lieu of interest, shall be payable in respect of any dividend payment on the share of Series C Preferred Stock that may be in arrears.

 

(v) So long as any shares of Series C Preferred Stock are outstanding, no dividends shall be declared, paid or set aside for payment or other distribution upon any Series C Junior Securities for any Series C Dividend Period (other than dividends or distributions paid in shares of, or options, warrants or rights to subscribe for or purchase shares of, Series C Junior Securities and other than as provided in clause (B) below), nor, during any Series C Dividend Period, shall any shares of any Series C Junior Securities or any Series C Parity Securities be redeemed, purchased or otherwise acquired for any consideration (or any moneys be paid to or set aside or made available for a sinking fund for the redemption of any shares of any such stock) by the Bank (except by conversion into or exchange for shares of, or options, warrants or rights to subscribe for or purchase, Series C Junior Securities) whenever, in each case, full non-cumulative dividends on

all outstanding shares of the Series C Preferred Stock for such Series C Dividend Period shall not have been declared and paid or set aside for payment.

 

(e) Liquidation Preference.

 

(i) In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Bank, the holders of shares of Series C Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Bank available for distribution to its stockholders an amount in cash equal to the Series C Liquidation Value for each share outstanding, plus an amount in cash equal to all accumulated and unpaid dividends thereon for the then current Series C Dividend Period, whether or not earned or declared, before any payment shall be made or any assets distributed to the holders of Series C Junior Securities. If the assets of the Bank are not sufficient to pay in full the liquidation payments payable to the holders of outstanding shares of the Series C Preferred Stock and any Series C Parity Securities, then the holders of all such shares shall share ratably in such distribution of assets in accordance with the amount which would be payable on such distribution if the amounts to which the holders of outstanding shares of Series C Preferred Stock and the holders of outstanding shares of such Series C Parity Securities are entitled were paid in full. After payment of the full amount of the liquidation preference, plus any accumulated and unpaid dividends for the then current Series C Dividend Period, to which holders of Series C Preferred Stock are entitled, holders of Series C Preferred Stock will have no right or claim to any remaining assets of the Bank.

 

(ii) For the purpose of this Section 6.05(e), neither the voluntary sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property or assets of the Bank nor the consolidation or merger of the Bank shall be deemed to be a voluntary or involuntary liquidation, dissolution or winding up of the Bank unless such voluntary sale, conveyance, exchange or transfer shall be in connection with a plan of liquidation, dissolution or winding up of the Bank.

 

(f) Redemption. After the Issue Date, the Series C Preferred Stock shall be redeemable, in whole or part, at the option of the Bank, but not with the prior written approval of the Federal Reserve and, if such approval is then required under any applicable law, rule, guideline or policy, with the prior written of the Georgia Department of Banking and Finance, for cash out of any source of funds legally available, at a redemption price equal to 100% of the Series C Liquidation Value per share plus declared and unpaid dividends thereon, if any accumulated since the immediately preceding Series C Dividend Payment Date (the “Series C Redemption Price”). Any date of such redemption is referred to as the “Series C Redemption Date.” If fewer than all the outstanding shares of Series C Preferred Stock are to be redeemed, the Bank will select those to be redeemed by lot or pro rata or by any other method as may be determined by the Board of Directors to be equitable.

 

(g) Procedure for Redemption.

 

(i) Upon redemption of the Series C Preferred Stock pursuant to Section 6.05(f) hereof, notice of such redemption (a “Series C Notice of Redemption”) shall be mailed by first-class mail, postage prepaid, not less than 30 days nor more than 60 days prior to the Series C Redemption Date tot he holders of record of the shares to be redeemed at their respective addresses as they shall appear in the records of the Bank; provided, however, that failure to give such notice or any defect therein or in the mailing thereof shall not affect the validity of the proceeding for the redemption of any shares so to be redeemed except as tot he holder to whom the Bank has failed to give such notice or except as to the holder to whom notice was defective. Each such notice shall state: (A) the Series C Redemption Date; (B) the Series C Redemption Price; and (C) the place or places where certificates for such shares are to be surrendered for payment of the Series C Redemption Price.

(ii) If a Series C Notice of Redemption shall have been given as aforesaid and the Bank shall have deposited on or before the Redemption Date a sum sufficient to redeem the shares of Series C Preferred Stock as to which a Series C Notice of Redemption has been given in trust with the Transfer Agent with irrevocable instructions and authority to pay the Series C Redemption Price to the holders thereof, or if no such deposit is made, then upon the Series C Redemption Date (unless the Bank shall default in making payment of the Series C Redemption Price), all rights of the holders thereof as stockholders of the Bank by reason of the ownership of such shares (except their right to receive the Series C Redemption Price thereof without interest) shall cease and terminate, and such shares shall no longer be deemed outstanding for any purpose. The Bank shall be entitled to receive, from time to time, from the Transfer Agent the interest, if any, earned on such moneys deposited with it, and the holders of any shares so redeemed shall have no claim to any such interest. In case the holder of any shares of Series C Preferred Stock so called for redemption shall not claim the Series C Redemption Price for its shares within six months after the related Series C Redemption Date, the Transfer Agent shall, upon demand, pay over to the Bank such amount remaining on deposit, and the Transfer Agent shall thereupon be relieved of all responsibility to the holder of such shares, and such holder shall look only to the Bank for payment thereof.

 

(iii) Not later than 1:30 p.m., Eastern Standard Time, on the Business Day immediately preceding the Series C Redemption Date, the Bank shall irrevocably deposit with the Transfer Agent sufficient funds for the payment of the Series C Redemption Price for the shares to be redeemed on the Series C Redemption Date and shall give the Transfer Agent irrevocable instructions to apply such funds, and, if applicable and so specified in the instructions, the income and proceeds therefrom, to the payment of such Series C Redemption Price. The Bank may direct the Transfer Agent to invest any such available funds, provided that the proceeds of any such investment will be available to the Transfer agent in Atlanta, Georgia at the opening of business on such Series C Redemption Date.

 

(iv) Except as otherwise expressly set forth in this Section 6.05(g), nothing contained in these Restated Articles of Incorporation shall limit any legal right of the Bank to purchase or otherwise acquire any shares of Series C Preferred Stock at any price, whether higher or lower than the Series C Redemption Price, in private negotiated transactions, the over-the-counter market or otherwise.

 

(v) If the Bank shall not have funds legally available for the redemption of all of the shares of Series C Preferred Stock on any Series C Redemption date, the Bank shall redeem on the Series C Redemption Date only the number of shares of Series C Preferred stock as it shall have legally available funds to redeem, as determined in an equitable manner, the remainder of the shares of Series C Preferred Stock shall be redeemed, at the option of the Bank, on the earliest practice date next following the day on which the Bank shall first have funds legally available for the redemption of such shares.

 

(h) Reacquired Shares. Shares of the Series C Preferred Stock that have been redeemed, purchased or otherwise acquired by the Bank are not subject to reissuance or resale as shares of Series C Preferred Stock and shall be held in treasury. Such shares shall revert to the status of authorized but unissued shares of preferred stock, undesignated as to series, until the Board of Directors of the Bank shall designate them again for issuance as part of a series.

 

(i) Voting Rights. Except as otherwise from time to time required by law, the holders of the Series C Preferred Stock shall not have any voting rights.

 

Section 6.06. Definitions. For the purpose of section 6.05 hereof, the following terms shall have the meanings indicated:

“Business Day” means a day on which the New York Stock Exchange is open for trading and which is not a day on which banking institutions in The City of New York or Atlanta, Georgia are authorized or required by law or executive order to close.

 

“Company” means STB Capital, LLC, a limited liability company, or any successor thereto.

 

Exchange Date” means any date on which the 7.25% Non-Cumulative Exchangeable Preferred Securities of the Company are exchanged for the Series C Preferred Stock.

 

“Federal Reserve” means the Board of Governors of the Federal Reserve System, or any successor thereto.

 

“Issue Date” means with respect to the Series C Preferred Stock, the first date on which shares of Series C Preferred Stock are issued.

 

“Record Date” means the Business Day immediately preceding the applicable Series C Dividend Payment Date.

 

“Series C Dividend Payment Date” means March 15 and September 15 of each year.

 

“Series C Dividend Period” is the period from a Series C Divided Payment Date, to but excluding, the next succeeding Series C Dividend Payment Date; provided, however, that the initial Series C Dividend Period is the period from the Issue Date of the Series C Preferred Stock to the next succeeding Series C Dividend Payment Date.

 

“Series C Dividend Rate” has the meaning set forth in Section 6.05(d)(i).

 

“Series C Junior Securities” has the meaning set forth in Section 6.05(c) hereof.

 

“Series C Liquidation Value” has the meaning set forth in Section 6.05(a).

 

“Series C Notice of Redemption” has the meaning set forth in Section 6.05(g)(i) hereof.

 

“Series C Parity Securities” has the meaning set forth in Section 6.05(c) hereof.

 

“Series C Preferred Stock” has the meaning set forth in Section 6.05(a) hereof.

 

“Series C Redemption Date” has the meaning set forth in Section 6.05(f) hereof.

 

“Series C Redemption Price” has the meaning set forth Section 6.05(f) hereof.

 

“Series C Senior Securities” has the meaning set forth in Section 6.05(c) hereof.

 

“Transfer Agent” means a bank or trust company as may be appointed from time to time by the Board of Directors of the Bank, or a committee thereof, to act as transfer agent, paying agent and registrar of the Series C Preferred Stock.

 

Section 6.07. Authority is hereby expressly granted to the Board of Directors from time to time to issue additional Preferred Stock, for such consideration and on such terms as it may determine, as Preferred Stock of one or more series and in connection with the creation of any such series to fix by the resolution or resolutions providing for the issue of shares thereof the designation, powers and relative participating, optional, or

other special rights of such series, and the qualifications, limitations, or restrictions thereof.

 

Article VII

 

No stockholder shall have any preemptive right to subscribe for or to purchase any shares or other securities issued by the Bank.

 

Article VIII

 

The number of directors shall be not less than eleven nor more than twenty-five, which number shall be fixed as provided by law.

 

Article IX

 

Section 9.01. No director of the Bank shall be personally liable to the shareholders of the Bank for monetary damages for breach of his duty of care or other duty as a director, provided that this provision shall eliminate or limit the liability of a director only to the maximum extent permitted from time to time by the Financial Institutions Code of Georgia or any successor law or laws.

 

Section 9.02. Any repeal or modification of clause (a) of this Article IX by the shareholders of the Bank shall not adversely affect any right or protection of a director of the Bank existing at the time of such repeal or modification.

 

IN WITNESS WHEREOF, SunTrust Bank has caused these Restated Articles of Incorporation to be executed and its corporate seal to be affixed and has caused the foregoing to be attested, all by its duly authorized officers on this 4th day of March, 2002.

 

SUNTRUST BANK

By:

  

/s/ L. Phillip Humann

   

Name: L. Phillip Humann

   

Title: Chairman of the Board, President

            and Chief Executive Officer

By:

  

/s/ John W. Spiegel

   

Name: John W. Spiegel

   

Title: Executive Vice President

            and Chief Financial Officer

 

 

(SEAL)

Attest:

  

/s/ Raymond D. Fortin

Name:

  

Raymond D. Fortin

Title:

  

Corporate Secretary

EXHIBIT 2 TO FORM T-1

 

CERTIFICATE OF AUTHORITY

OF

SUNTRUST BANK TO COMMENCE BUSINESS

 

(Included in Exhibit 1)

EXHIBIT 3 TO FORM T-1

 

AUTHORIZATION

OF

SUNTRUST BANK TO EXERCISE

CORPORATE TRUST POWERS

 

(Included in Exhibit 1)

EXHIBIT 4 TO FORM T-1

 

BY-LAWS

OF

SUNTRUST BANK

 

(ATTACHED)

SUNTRUST BANK

BYLAWS

 

(As Amended and Restated August 13, 2002)

 

ARTICLE I

SHAREHOLDERS

 

SECTION 1. Annual Meeting. The annual meeting of the shareholder for the election of Directors and for the transaction of such other business as may properly come before the meeting shall be held at such place, on such date and at such time as the Board of Directors may by resolution provide. If the Board of Directors fails to provide such date and time, the meeting shall be held at the Bank’s headquarters at 10:00 AM local time on the third Tuesday in April of each year, or, if that date is a legal holiday, on the next succeeding business day. The Board of Directors may specify by resolution prior to any special meeting of the shareholder that such meeting shall be in lieu of the annual meeting.

 

SECTION 2. Special Meeting; Call of Meetings. Special meetings of the shareholder may be called at any time by the Chairman of the Board, the President, or the Board itself, and shall be held at such place as is stated in the notice.

 

ARTICLE II

DIRECTORS

 

SECTION 1. Board of Directors. The Board of Directors shall manage the business and affairs of the Bank and may exercise all of the powers of the Bank, subject to whatever restrictions are imposed by law.

 

SECTION 2. Composition of the Board. The Board of Directors of the Bank shall consist of not less than ten (10) nor more than twenty (20) natural persons, the exact number to be set from time to time by the Board of Directors. In the absence of the Board setting the number of Directors, the number shall be sixteen (16). Each Director, unless he or she dies, resigns, retires or is removed from office, shall hold office until the next annual meeting of the shareholder, and may be reelected for successive terms.

 

SECTION 3. Election of Directors. Nominations for election to the Board of Directors may be made by the Board, or by the Bank’s shareholder. Nominations shall specify the class of Directors to which each person is nominated.

 

SECTION 4. Vacancies. Vacancies resulting from retirement, resignation, removal from office (with or without cause), death or an increase in the number of Directors comprising the Board, shall be filled by the Board of Directors. Any Director so elected shall hold office until the next annual meeting of the shareholder. No decrease in the number of Directors constituting the Board of Directors shall shorten the term of any incumbent Director.

SECTION 5. Retirement. Each Director serving as an officer of the Bank or any of its affiliates shall cease to be a Director on the date of the first to occur of (a) his or her 65th birthday, or (b) the date of his or her termination, resignation or retirement of employment. Each Director who is not an officer of the Bank or any of its affiliates shall cease to be a Director at the end of his or her term that coincides with or follows his or her 70th birthday.

 

SECTION 6. Removal. Any or all Directors may be removed from office at any time with or without cause, by the affirmative vote of the shareholder.

 

SECTION 7. Resignations. Any Director may resign at any time by giving written notice to the Chairman of the Board, the President or the Corporate Secretary. Such resignation shall take effect when delivered unless the notice specifies a later effective date, and the acceptance of the resignation shall not be necessary to make it effective, unless otherwise stated in the resignation.

 

ARTICLE III

ACTION OF THE BOARD OF DIRECTORS; COMMTTEES

 

SECTION I. Quorum; Vote Requirement. A majority of the Directors holding office shall constitute a quorum for the transaction of the Board’s business. If a quorum is present, a vote of a majority of the Directors present at such time shall be the act of the Board of Directors, unless a greater vote is required by law, the Articles of Incorporation or these Bylaws.

 

SECTION 2. Executive Committee. An Executive Committee, consisting of not less than four (4) Directors, is hereby established. The members of the Executive Committee shall be elected by the Board at its meeting immediately following the annual shareholder’s meeting, or at such other time as the Board determines to be appropriate. The Executive Committee shall have and may exercise all the authority of the Board as permitted by law. In addition, the Executive Committee shall serve as the Nominating Committee and shall have the power to recommend candidates for election to the Board and consider other issues related to the size and composition of the Board. The Board shall elect the Chairman of the Executive Committee, who shall be entitled to preside at all meetings of the Executive Committee and perform such other duties as may be designated by the Committee. The Executive Committee shall exercise oversight for the Bank’s fiduciary actions and duties.

 

SECTION 3. Audit Committee. An Audit Committee, consisting of not less than four (4) Directors, is hereby established. No Director who is an officer of the Bank or any affiliate shall be a member of the Audit Committee. The members of the Audit Committee shall be elected by the Board at its meeting immediately following the annual shareholder’s meeting, or at such other time as the Board determines to be appropriate. The Audit Committee shall require that an audit of the books and records of the affairs of the Bank be made at such time or times as the members of the Audit Committee choose, and shall review the scope of the audit and approve of any non-audit services to be performed for the Bank by the independent accountants. The Audit Committee shall also review examination reports by the independent accountants and regulatory agencies; review credit issues, loan policies and procedures, the classification of loans and the

 

2

adequacy of the allowance for loan losses; monitor the credit process review function; review the Bank’s CRA policy, plans and performance; review internal programs to assure compliance with laws and regulations and the adequacy of internal controls. The Board shall elect the Chairman of the Audit Committee who shall be entitled to preside at all meetings of the Committee and perform such other duties as may be designated by the Committee.

 

SECTION 4. Other Committees. The Board of Directors may designate one or more other committees, each consisting of one or more Directors, and each of which, to the extent permitted by law and provided in the resolution establishing such committee, shall have and may exercise all authority of the Board of Directors.

 

SECTION 5. Committee Meetings. Regular meetings of each committee, of which no notice is necessary, shall be held at such times and places as fixed, from time to time, by resolution adopted by the committee. Special meetings of any committee may be called at any time by the Chairman of the Board or the President, by the Chairman of such committee or by two members of the committee. Notice of any special meeting of any committee may be given in the manner provided in the Bylaws for giving notice of a special meeting of the Board of Directors. However, notice of any special meeting need not be given to any member of the committee who is present at the meeting or who, before or after the meeting, waives notice in writing (including telegram, cablegram, facsimile, or radiogram). Any regular or special meeting of any committee shall be a legal meeting, without any notice being given, if all the members are present. A majority of the members of any committee shall constitute a quorum for the transaction of business, and the act of a majority of those present at any meeting at which a quorum is present shall be the act of the committee.

 

SECTION 6. Committee Records. Each committee shall keep a record of its acts and proceedings and shall report them from time to time to the Board of Directors.

 

SECTION 7. Alternate Members; Vacancies. The Board of Directors may designate one or more Directors as alternate members of any committee, to act in the place and stead of one or more members who are absent from such committee. The Board of Directors may fill any vacancy or vacancies occurring in any committee.

 

SECTION 8. Place, Time, Notice and Call of Directors’ Meetings. The annual meeting of the Board of Directors shall be held each year immediately following the annual meeting of the shareholder or at such other time and place as the Chairman of the Board may designate. Regular meetings of the Board of Directors shall be held at such times and places as the Board of Directors may determine from time to time. Regular meetings of the Board of Directors may be held without notice. Special meetings of the Board of Directors shall be held upon notice of the date, time and place of the meeting as given to each Director orally, by telephone or in person, or in writing, by personal delivery or by mail, telegram, facsimile, or cablegram. Notice of special meetings shall be given no later than the day before the meeting, except that notice of a special meeting need not be given to any Director who signs and delivers to the Bank, either before or after the meeting, a waiver of notice. Attendance of a Director at a Board meeting shall constitute a waiver of notice of that meeting, as well as a waiver of any and all objections to the place of the meeting, the time of the meeting, or the manner in which it has been called or

 

3

convened, except when a Director states, at the beginning of the meeting (or promptly upon his or her arrival), any such objection or objections to the transaction of business and thereafter does not vote for or assent to action taken at the meeting. The business to be transacted at, and the purpose of, any regular or special meeting of the Board of Directors need not be specified in the notice or waiver of notice of the meeting unless required by law or these Bylaws.

 

A majority of the Directors present, whether or not a quorum exists, may adjourn any meeting of the Board of Directors to another time and place. No notice of any adjourned meeting need be given. Meetings of the Board of Directors may be called by the Chairman of the Board, the President or any two Directors.

 

SECTION 9. Action by Directors Without a Meeting; Participation in Meeting by Telephone. Except as limited by law, any action to be taken at a meeting of the Board, or by any committee of the Board, may be taken without a meeting if written consent, setting forth the action so taken, shall be signed by all the members of the Board or such Committee and shall be filed with the minutes of the proceedings of the Board or such committee. Such written consent shall have the same force and effect as a unanimous vote of the Board or such committee and any document executed on behalf of the Corporation may recite that the action was duly taken at a meeting of the Board or such committee.

 

Participation at Board and committee meetings may occur by conference telephone or similar communication equipment so long as all persons participating in the meeting can hear and speak to one other, and such participation shall constitute personal presence at the meeting.

 

SECTION 10. Directors’ Compensation. The Board of Directors shall have authority to determine, from time to time, the amount of compensation paid to its members for attendance at meetings of, or services on, the Board or any committee thereof. The Board shall also have the power to reimburse Directors for reasonable expenses of attendance at Directors’ meetings and committee meetings.

 

ARTICLE IV

OFFICERS

 

SECTION 1. Executive Structure. The Board of Directors shall elect a Chairman of the Board, President, Chief Financial Officer, Corporate Secretary and Treasurer, and may elect one or more Vice Chairmen and Executive Vice Presidents as the Board of Directors may deem necessary. The Board of Directors shall designate a Chief Executive Officer from among these officers. The Chief Executive Officer shall designate duties of each designated officer and may appoint assistant officers, to assist one or more of the designated officers in discharging their duties. Titles of the assistant officers will be designated by the Chief Executive Officer as he or she deems appropriate. The Chief Executive Officer may also appoint other officers and may delegate the authority to appoint officers to other officers of the Bank. The local or regional boards or the local or regional chief executive officers or their designees may appoint officers of SunTrust Bank. Each officer elected by the Board and each officer appointed by the Chief Executive Officer or his or her designee shall serve until the next annual meeting of the Board, or

 

4

until he or she earlier resigns, retires, dies or is removed from office. Any two or more offices may be held by the same person.

 

SECTION 2. Chief Executive Officer. The Chief Executive Officer shall be the most senior officer of the Bank and all other officers and agents of the Bank shall be subject to his or her direction. He or she shall be accountable to the Board of Directors for the fulfillment of his or her duties and responsibilities and, in the performance and exercise of all such duties, responsibilities and powers, he or she shall be subject to the supervision and direction of, and any limitations imposed by, the Board of Directors. The Chief Executive Officer shall be responsible for interpretation and implementation of the policies of the Bank as determined and specified from time to time by the Board of Directors, and shall be responsible for the general management and direction of the business and affairs of the Bank. For the purpose of fulfilling his or her duties and responsibilities and subject to these Bylaws and the direction of the Board, the Chief Executive Officer shall have plenary authorities and powers, including general executive powers, the authority to delegate and assign duties, responsibilities and authorities, and, in the name of the Bank and on its behalf, the authority to negotiate and make any agreements, waivers or commitments that do not require the express approval of the Board.

 

SECT1ON 3. Chairman of the Board. The Chairman shall be a member of the Board of Directors and shall be entitled to preside at all meetings of the Board.

 

SECTION 4. President. The President shall have such powers and perform such duties as may be assigned by the Board of Directors, the Chairman of the Board or the Chief Executive Officer.

 

SECTION 5. Vice Chairman. Any Vice Chairman elected shall have such duties and authority as may be conferred upon him by the Board or delegated to him by the Chief Executive Officer.

 

SECTION 6. Chief Financial Officer. The Chief Financial Officer shall have the care, custody, control and handling of the funds and assets of the Bank, and shall render a statement of the assets, liabilities and operations of the Bank to the Board at its regular meetings.

 

SECTION 7. Treasurer. The Treasurer shall perform such duties as may be assigned to him or her and shall report to the Chief Financial Officer or, in the absence of the Chief Financial Officer, to the President.

 

SECTION 8. Corporate Secretary. Due notice of all meetings of the shareholder and Directors shall be given by the Corporate Secretary or the person or persons calling such meeting. The Corporate Secretary shall report the proceedings of all meetings in a book of minutes and shall perform all the duties pertaining to his or her office, including authentication of corporate documents, and shall have custody of the Seal of the Bank. Each Assistant Corporate Secretary appointed by the Chief Executive Officer or his or her designee may perform all duties of the Corporate Secretary.

 

5

SECTION 9. Bank Officers. Each officer, employee and agent of the Bank shall have the duties and authority conferred upon him or her by the Board of Directors or delegated to him or her by the Chief Executive Officer, or his or her designee.

 

SECTION 10. Removal of Officers. Any officer may be removed by the Board of Directors with or without cause whenever, in its judgment, the best interests of the Bank will be served thereby. In addition, an officer of the Bank shall cease to be an officer upon ceasing to be an employee of the Bank or its affiliates.

 

ARTICLE V

STOCK

 

SECTION 1. Stock Certificates. The shares of stock of the Bank shall be represented by certificates in such form as may be approved by the Board of Directors, which certificates shall be issued to the shareholder of the Bank and shall be signed by the Chairman of the Board, or the President, together with the Corporate Secretary or an Assistant Secretary of the Bank; and which shall be sealed with the seal of the Bank. The described signatures on any certificate may be a facsimile signature if the certificate is countersigned by a transfer agent or registrar other than the Bank itself or an employee of the Bank. No share certificates shall be issued until consideration for the shares represented thereby has been fully paid. If any officer who has signed or whose facsimile signature has been placed upon a certificate ceases to be such officer before such certificate is issued, it may be issued by the Bank with the same effect as if he or she was such officer at the date of issue.

 

SECTION 2. Transfer of Stock. Shares of stock of the Bank shall be transferred on the books of the Bank only upon surrender to the Bank of the certificate or certificates representing the shares to be transferred, accompanied by an assignment in writing of such shares, properly executed by the shareholder of record or his or her duly authorized attorney-in-fact, and after payment of all taxes due upon the transfer. The Bank may refuse any requested transfer until furnished evidence satisfactory to it that such transfer is proper. Upon the surrender of a certificate for transfer of stock, such certificate shall be marked on its face “Canceled”. The Board of Directors may make such additional rules concerning the issuance, transfer and registration of stock and requirements regarding the establishment of lost, destroyed or wrongfully taken stock certificates (including any requirement of an indemnity bond prior to issuance of any replacement certificate and provision for appointment of a transfer agent and a registrar) as it deems appropriate.

 

SECTION 3. Registered Shareholder. The Bank may deem and treat the holder of record of any stock as the absolute owner thereof for all purposes and shall not be required to take any notice of any right or claim of right of any other person.

 

SECTION 4. Record Date. For the purpose of determining the shareholder entitled to notice of, or to vote at, any meeting of shareholder or any adjournment thereof, or entitled to receive payment of any dividend, or in order to make a determination of the shareholder for any other

 

6

purpose, the Board of Directors may fix, in advance, a date as the record date for determination of the shareholder.

 

ARTICLE VI

DEPOSITORIES, SIGNATURES AND SEAL

 

SECTION 1. Depositories. All funds of the Bank shall be deposited in the name of the Bank in such bank, banks, or other financial institutions as the Board of Directors may from time to time designate and shall be drawn out on checks, drafts or other orders signed on behalf of the Bank by such person or persons as the Board, its Executive Committee or the Chief Executive Officer may, from time to time, direct.

 

SECTION 2. Seal. The seal of the Bank shall be in such form as the Board of Directors may, from time to time, direct. Unless otherwise directed by the Board of Directors, the official seal of the Bank shall be as follows:

 

If the seal is affixed to a document, the signature of the Corporate Secretary or his or her designee shall attest to the seal. The seal and its attestation may be lithographed or otherwise printed on any document and shall have, to the extent permitted by law, the same force and effect as if it has been affixed and attested manually.

 

SECTION 3. Execution of Instruments. All bills, notes, checks, and other instruments for the payment of money, all agreements, indentures, mortgages, deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases, satisfactions, settlements, petitions, schedules, accounts, affidavits, bonds, undertakings, proxies and other instruments or documents may be signed, executed, acknowledged, verified, delivered, or accepted on behalf of the Bank by the Chairman of the Board, the President, any Vice Chairman, Executive Vice President, Senior Vice President or Vice President, the Secretary or the Treasurer. Any such instrument may also be signed, executed, acknowledged, verified, delivered or accepted on behalf of the Bank in such manner and by such other officers, employees or agents of the Bank as the Board of Directors, Executive Committee or Chief Executive Officer may, from time to time, direct.

 

ARTICLE VII

INDEMNIFICATION OF OFFICERS, DIRECTORS, AND EMPLOYEES

 

SECTION 1. Definitions. The following terms are defined, for purposes of this Article, as:

 

(A) “Bank” includes any domestic or foreign predecessor entity of this Bank in merger or other transaction in which the predecessor’s existence ceased upon consummation of the transaction.

 

7

(B) “Director” means an individual who is or was a director of the Bank or an individual who, while a director of the Bank, is or was serving at the Bank’s request as director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other entity. A Director is considered to be serving an employee benefit plan at the Bank’s request if his or her duties to the Bank also impose duties on, or otherwise involve services by, him or her to the plan or to participants in or beneficiaries of the plan. Director includes, unless the context requires otherwise, the estate or personal representative of a Director.

 

(C) “Disinterested Director” means a Director who, at the time of a vote referred to in Section 3(C) or a vote or selection referred to in Section 4(B), 4(C) or 7(A) is not: (I) a party to the proceedings; or (ii) an individual who is a party to a proceeding having a familial, financial, professional, or employment relationship with the Director whose indemnification or advance for expenses is the subject of the decision being made with respect to the proceeding, which relationship would, in the circumstances, reasonably be expected to exert an influence on the Director’s judgement when voting on the decision being made.

 

(D) “Employee” means an individual who is or was an employee of the Bank or an individual who, while an employee of the Bank, is or was serving at the Bank’s request as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise. An Employee is considered to be serving an employee benefit plan at the Bank’s request if his or her duties to the Bank also imposes duties on, or otherwise involves services by, him or her to the plan or to participants in or beneficiaries of the plan. Employee includes, unless the context requires otherwise, the estate or personal representative of an Employee.

 

(E) “Expenses” includes counsel fees.

 

(F) “Liability” means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or reasonable expenses incurred with respect to a proceeding.

 

(G) “Officer” means an individual who is or was an officer of the Bank, including an assistant officer, or an individual who, while an officer of the Bank, is or was serving at the Bank’s request as a director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other entity. An Officer is considered to be serving an employee benefit plan at the Bank’s request if his or her duties to the Bank also impose duties on, or otherwise involve services by, him or her to the plan or to participants in or beneficiaries of the plan. Officer includes, unless the context requires otherwise, the estate or personal representative of an Officer.

 

(H) “Official Capacity” means: (i) when used with respect to a director, the office of a director in a corporation; and (ii) when used with respect to an officer, the office in a corporation held by the officer. Official Capacity does not include service for any other domestic or foreign corporation or any partnership, joint venture, trust, employee benefit plan, or other entity.

 

8

(I) “Party” means an individual who was, is, or is threatened to be made, a named defendant or respondent in a proceeding.

 

(J) “Proceeding” means any threatened, pending or completed action, suit, or proceeding, whether civil, criminal, administrative, arbitrative or investigative and whether formal or informal.

 

Section 2. Basic Indemnification Arrangement. (A) Except as provided in subsection 2(D) below and, if required by Section 4 below, upon a determination pursuant to Section 4 in the specific case that such indemnification is permissible in the circumstances under this subsection because the individual has met the standard of conduct set forth in this subsection (A), the Bank shall indemnify an individual who is made a party to a proceeding because he or she is or was a Director or Officer against liability incurred by him or her in the proceeding if he or she conducted himself or herself in good faith and, in the case of conduct in his or her official capacity, he or she reasonably believed such conduct was in the best interest of the Bank, or in all other cases, he or she reasonably believed such conduct was at least not opposed to the best interests of the Bank and, in the case of any criminal proceeding, he or she had no reasonable cause to believe the conduct was unlawful.

 

(B) A person’s conduct with respect to an employee benefit plan for a purpose he or she believes in good faith to be in the interests of the participants in and beneficiaries of the plan is conduct that satisfies the requirement of subsection 2(A) above.

 

(C) The termination of a proceeding by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, is not, of itself, determinative that the proposed indemnitee did not meet the standard of conduct set forth in subsection 2(A) above.

 

(D) The Bank shall not indemnify a person under this Article (i) in connection with a proceeding by or in the right of the Bank, except for reasonable expenses incurred in connection with the proceeding if it is determined that such person has met the relevant standard of conduct under this section, or (ii) with respect to conduct for which such person was adjudged liable on the basis that personal benefit was improperly received by him or her, whether or not involving action in his official capacity.

 

SECTION 3. Advances for Expenses. (A) The Bank may advance funds to pay for or reimburse the reasonable expenses incurred by a Director or Officer who is a party to a proceeding because he or she is a Director or Officer in advance of final disposition of the proceeding if (i) such person furnishes the Bank a written affirmation of his or her good faith belief that he or she has met the relevant standard of conduct set forth in subsection 2(A) above or that the proceeding involves conduct for which liability has been eliminated under the Bank’s Articles of Incorporation; and (ii) such person furnishes the Bank a written undertaking meeting the qualifications set forth below in subsection 3(B), executed personally or on his or her behalf, to repay any funds advanced if it is ultimately determined that he or she is not entitled to any indemnification under this Article or otherwise.

 

9

(B) The undertaking required by subsection 3(A)(ii) above must be an unlimited general obligation of the Director or Officer but need not be secured and shall be accepted without reference to financial ability to make repayment.

 

(C) Authorizations under this Section shall be made: (i) by the Board of Directors (a) when there are two or more Disinterested Directors, by a majority vote of all Disinterested Directors (a majority of whom shall for such purpose constitute a quorum) or by a majority of the members of a committee of two or more Disinterested Directors appointed by such a vote; or (b) when there are fewer than two Disinterested Directors, by a majority of the Directors present in a meeting in which Directors who do not qualify as Disinterested Directors may participate; or (ii) by the shareholder.

 

SECTION 4. Authorization of and Determination of Entitlement to Indemnification.

 

(A) The Bank shall not indemnify a Director or Officer under Section 2 above unless authorized thereunder and a determination has been made for a specific proceeding that indemnification of such person is permissible in the circumstances because he or she has met the relevant standard of conduct set forth in subsection 2(A) above; provided, however, that regardless of the result or absence of any such determination, to the extent that a Director or Officer has been wholly successful, on the merits or otherwise, in the defense of any proceeding to which he or she was a party because he or she is or was a Director or Officer, the Bank shall indemnify such person against reasonable expenses incurred by him or her in connection therewith.

 

(B) The determination referred to in subsection 4(A) above shall be made (i) if there are two or more Disinterested Directors, by a majority vote of all the Disinterested Directors (a majority of whom shall for such purpose constitute a quorum) or by a majority of the members of a committee of two or more Disinterested Directors appointed by such a vote; (ii) by special legal counsel (1) selected by the Board of Directors or its committee in the manner prescribed in subdivision (i), or (2) if there are fewer than two Disinterested Directors, selected by the Board of Directors (in which selection Directors who do not qualify as Disinterested Directors may participate); or (iii) by the shareholder; but shares owned by or voted under the control of a Director who at the time does not qualify as a Disinterested Director may not be voted on the determination.

 

(C) Authorization of indemnification or an obligation to indemnify, and evaluation as to reasonableness of expenses of a Director or Officer in the specific case shall be made in the same manner as the determination that indemnification is permissible, as described in subsection 4(B) above, except that if there are fewer than two Disinterested Directors or if the determination is made by special legal counsel, authorization of indemnification and evaluation as to reasonableness of expenses shall be made by those entitled under subsection 4(B)(ii)(2) above to select counsel.

 

(D) The Board of Directors, a committee thereof, or special legal counsel acting pursuant to subsection (B) above or Section 5 below, shall act expeditiously upon an application for indemnification or advances, and cooperate in the procedural steps required to obtain a judicial determination under Section 5 below.

 

10

(E) The Bank may, by a provision in its Articles of Incorporation or Bylaws or in a resolution adopted or a contract approved by its Board of Directors or shareholder, obligate itself in advance of the act or omission giving rise to a proceeding to provide indemnification or advance funds to pay for or reimburse expenses consistent with this part. Any such obligatory provision shall be deemed to satisfy the requirements referred to in Section 3(C) or Section 4(C).

 

SECTION 5. Court-Ordered Indemnification and Advances for Expenses. A Director or Officer who is a party to a proceeding because he or she is a Director or Officer may apply for indemnification or advances for expenses to the court conducting the proceeding or to another court of competent jurisdiction. After receipt of an application and after giving any notice it considers necessary, the court shall order indemnification or advances for expenses if it determines that: (i) the Director is entitled to indemnification under this part; or (ii) in view of all the relevant circumstances, it is fair and reasonable to indemnify the Director or Officer or to advance expenses to the Director or Officer, even if the Director or Officer has not met the relevant standard of conduct set forth in subsection 2(A) above, failed to comply with Section 3, or was adjudged liable in a proceeding referred to in subsections (i) or (ii) of Section 2(D), but if the Director or Officer was adjudged so liable, the indemnification shall be limited to reasonable expenses incurred in connection with the proceeding, unless the Articles of Incorporation of the Bank or a Bylaw, contract or resolution approved or ratified by the shareholder pursuant to Section 7 below provides otherwise.

 

If the court determines that the Director or Officer is entitled to indemnification or an advance for expenses, it may also order the Bank to pay the Director’s or Officer’s reasonable expenses to obtain court-ordered indemnification or advance for expenses.

 

SECTION 6. Indemnification of Officers and Employees. (A) Unless the Bank’s Articles of Incorporation provide otherwise, the Bank shall indemnify and advance expenses under this Article to an employee of the Bank who is not a Director or Officer to the same extent, consistent with public policy, as to a Director or Officer.

 

(B) The Bank may indemnify and advance expenses under this Article to an officer of the Bank who is a party to a proceeding because he or she is an Officer of the Bank: (i) to the same extent as a Director; and (ii) if he is not a Director, to such further extent as may be provided by the Articles of Incorporation, the Bylaws, a resolution of the Board of Directors, or contract except for liability arising out of conduct that is enumerated in subsections (A)(i) through (A)(iv) of Section 7. The provisions of this Section shall also apply to an Officer who is also a Director if the sole basis on which he or she is made a party to the proceeding is an act or omission solely as an Officer.

 

SECTION 7. Shareholder Approved Indemnification. (A) If authorized by the Articles of Incorporation or a Bylaw, contract or resolution approved or ratified by shareholder of the Bank, the Bank may indemnify or obligate itself to indemnify a person made a party to a proceeding, including a proceeding brought by or in the right of the Bank, without regard to the limitations in other sections of this Article, but shares owned or voted under the control of a Director who at the time does not qualify as a Disinterested Director with respect to any existing or threatened

 

11

proceeding that would be covered by the authorization may not be voted on the authorization. The Bank shall not indemnify a person under this Section 7 for any liability incurred in a proceeding in which the person is adjudged liable to the Bank or is subjected to injunctive relief in favor of the Bank: (i) for any appropriation, in violation of his duties, of any business opportunity of the Bank; (ii) for acts or omissions which involve intentional misconduct or a knowing violation of law; (iii) for the types of liability set forth in Section 14-2-832 of the Georgia Business Corporation Code; or (iv) for any transaction from which he or she received an improper personal benefit.

 

(B) Where approved or authorized in the manner described in subsection 7(A) above, the Bank may advance or reimburse expenses incurred in advance of final disposition of the proceeding only if: (i) the proposed indemnitee furnishes the Bank a written affirmation of his good faith belief that his or her conduct does not constitute behavior of the kind described in subsection 7(A)(i)-(iv) above; and (ii) the proposed indemnitee furnishes the Bank a written undertaking, executed personally, or on his or her behalf, to repay any advances if it is ultimately determined that he or she is not entitled to indemnification.

 

SECTION 8. Liability Insurance. The Bank may purchase and maintain insurance on behalf of an individual who is a Director, Officer, Employee, or agent of the Bank or who, while a director, officer, employee, or agent of the Bank, is or was serving at the request of the Bank as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other entity against liability asserted against or incurred by him in that capacity or arising from his status as a director, officer, employee, or agent, whether or not the Bank would have power to indemnify him against the same liability under Section 2 or Section 3 above.

 

SECTION 9. Witness Fees. Nothing in this Article shall limit the Bank’s power to pay or reimburse expenses incurred by a person in connection with his appearance as a witness in a proceeding at a time when he is not a party.

 

SECTION 10. Report to Shareholders. If the Bank indemnifies or advances expenses to a Director in connection with a proceeding by or in the right of the Bank, the Bank shall report the indemnification or advance, in writing, to the shareholder.

 

SECTION 11. Severability. In the event that any of the provisions of this Article (including any provision within a single section, subsection, division or sentence) is held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, the remaining provisions of this Article shall remain enforceable to the fullest extent permitted by law.

 

SECTION 12. Indemnification Not Exclusive. The rights of indemnification provided in this Article VII shall be in addition to any rights which any such Director, Officer, Employee or other person may otherwise be entitled by contract or as a matter of law.

 

12

ARTICLE VIII

AMENDMENTS OF BYLAWS

 

SECTION 1. Amendments. The Board of Directors shall have the power to alter, amend or repeal the Bylaws or adopt new Bylaws, but any Bylaws adopted by the Board of Directors may be altered, amended or repealed and new Bylaws adopted by the shareholder. Action by the Directors with respect to the Bylaws shall be taken by an affirmative vote of a majority of all of the Directors then elected and serving, unless a greater vote is required by law, the Articles of Incorporation or these Bylaws.

 

ARTICLE IX

EMERGENCY TRANSFER OF RESPONSIBILITY

 

SECTION 1. Emergency Defined. In the event of a national emergency threatening national security or a major disaster declared by the President of the United States or the person performing his functions, which directly or severely affects the operations of the Bank, the officers and employees of the Bank will continue to conduct the affairs of the Bank under such guidance from the Directors as may be available except as to matters which by law or regulation require specific approval of the Board of Directors and subject to conformance with any applicable laws, regulations, and governmental directives during the emergency.

 

SECTION 2. Officers Pro Tempore. The Board of Directors shall have the power, in the absence or disability of any officer, or upon the refusal of any officer to act as a result of said national emergency directly and severely affecting the operations of the Bank, to delegate and prescribe such officer’s powers and duties to any other officer, or to any Director.

 

In the event of a national emergency or state of disaster of sufficient severity to prevent the conduct and management of the affairs and business of the Bank by its Directors and officers as contemplated by the Bylaws, any two or more available members or alternate members of the then incumbent Executive Committee shall constitute a quorum of such Committee for the full conduct and management of the Bank in accordance with the provisions of Articles II and III of the Bylaws. If two members or alternate members of the Executive Committee cannot be expeditiously located, then three available Directors shall constitute the Executive Committee for the full conduct and management of the affairs and business of the Bank until the then remaining Board can be convened. These provisions shall be subject to implementation by resolutions of the Board of Directors passed from time to time, and any provisions of the Bylaws (other than this Section) and any resolutions which are contrary to the provisions of this Section or the provisions of any such implementary resolutions shall be suspended until it shall be determined by any such interim Executive Committee acting under this Section that it shall be to the advantage of this Corporation to resume the conduct and management of its affairs and business under all of the other provisions of these Bylaws.

 

SECTION 3. Officer Succession. If, in the event of a national emergency or disaster which directly and severely affects the operations of the Bank, the Chief Executive Officer cannot be located expeditiously or is unable to assume or to continue normal duties, then the authority and

 

13

duties of the office shall be automatically assumed, without Board of Directors action, in order of title, and subject only to willingness and ability to serve, by the Chairman of the Board, President, Vice Chairman, Executive Vice President, Senior Vice President, Vice President, Corporate Secretary or their successors in office at the time of the emergency or disaster. Where two or more officers hold equivalent titles and are willing and able to serve, seniority in title controls initial appointment. If, in the same manner, the Corporate Secretary or Treasurer cannot be located or is unable to assume or continue normal duties, the responsibilities attached thereto shall, in like manner as described immediately above, be assumed by any Executive Vice President, Senior Vice President, or Vice President. Any officer assuming authority and position hereunder shall continue to serve until the earlier of his resignation or the elected officer or a more senior officer shall become available to perform the duties of the position of Chief Executive Officer, Corporate Secretary, or Treasurer.

 

SECTION 4. Certification of Authority. In the event of a national emergency or disaster that directly and severely affects the operations of the Bank, anyone dealing with the Bank shall accept a certification by the Corporate Secretary or any three officers that a specified individual is acting as Chairman of the Board, Chief Executive Officer, President, Corporate Secretary, or Treasurer, in accordance with these Bylaws; and that anyone accepting such certification shall continue to consider it in force until notified in writing of a change, such notice of change to carry the signature of the Corporate Secretary or three officers of the Bank.

 

SECTION 5. Alternative Locations. In the event of a national emergency or disaster which destroys, demolishes, or renders the Bank’s offices or facilities unserviceable, or which causes, or in the judgment of the Board of Directors or the Executive Committee probably will cause, the occupancy or use thereof to be a clear and imminent hazard to personal safety, the Bank shall temporarily lease or acquire sufficient facilities to carry on its business as may be designated by the Board of Directors. Any temporarily relocated place of business of this Bank shall be returned to its legally authorized location as soon as practicable and such temporary place of business shall then be discontinued.

 

SECTION 6. Amendments to Article IX. At any meeting called in accordance with Section 2 of this Article IX, the Board of Directors or Executive Committee, as the case may be, may modify, amend or add to the provisions of this Article IX so as to make any provision that may be practical or necessary for the circumstances of the emergency.

 

14

EXHIBIT 5 TO FORM T-1

 

(INTENTIONALLY OMITTED. NOT APPLICABLE.)

EXHIBIT 6 TO FORM T-1

 

CONSENT OF TRUSTEE

 

Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of 1939, in connection with the proposed exchange of up to $350,000,000 of Smithfield Foods, Inc. 73/4% Senior Notes, Series B, for any and all Smithfield Foods, Inc. 73/4% Senior Notes, Series A, SunTrust Bank hereby consents that reports of examinations by Federal, State, Territorial or District Authorities may be furnished by such authorities to the Securities and Exchange Commission upon request therefor.

 

SUNTRUST BANK

By:

  

    /s/ Jack Ellerin

   

Jack Ellerin

   

Assistant Vice President

EXHIBIT 7 TO FORM T-1

 

REPORT OF CONDITION

(ATTACHED)

   

Board of Governors of the Federal Reserve System

OWB Number: 7100-0036

Federal Deposit Insurance Corporation

OWB Number: 3064-0052

Office of the Comptroller of the Currency

OWB Number: 1557-0081

Expires April 30, 2005

Federal Financial Institutions Examination Council    
    1
   

Please refer to page 1,

Table of Contents, for

the required disclosure

of estimated burden.

 

Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices—FFIEC 031

 

Report at the close of business June 30, 2003

 

This report is required by law: 12 U.S.C. §324 (State member banks); 12 U.S.C. §1817 (State nonmember banks); and 12 U.S.C. §161 (National banks).

 

(20030630)

(RCRI 9999)

 

This report form is to be filed by banks with branches and consolidated subsidiaries in U.S. territories and possessions, Edge or Agreement subsidiaries, foreign branches, consolidated foreign subsidiaries, or International Banking Facilities.

 

NOTE: The Reports of Condition and Income must be signed by an authorized officer and the Report of Condition must be attested to by not less than two directors (trustees) for State nonmember banks and three directors for State member and National banks.

 

I, Jorge Arrieta, SVP & Controller

    Name and Title of Officer Authorized to Sign Report

 

of the named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

 

/s/    Jorge Arrieta

Signature of Officer Authorized to Sign Report

07/25/2003

Date of Signature

 

The Reports of Condition and Income are to be prepared in accordance with Federal regulatory authority instructions.

 

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

Director (Trustee)
Director (Trustee)
Director (Trustee)

 

Submission of Reports

 

Each bank must prepare its Reports of Condition and Income either:

 

(a)   in electronic form and then file the computer data file directly with the banking agencies collection agent, Electronic Data Systems Corporation (EDS), by modem or on computer diskette; or

 

(b)   in hard-copy (paper) form and arrange for another party to convert the paper report to electronic form. That party (if other than EDS) must transmit the bank’s computer data file to EDS.

 

For electronic filing assistance, contact EDS Call Report Services, 13890 Bishops Drive, Suite 110, Brookfield, WI 53005, telephone (800) 255-1571.

 

To fulfill the signature and attestation requirement for the Report of Condition and Income for this report date, attach this signature page (or a photocopy or a computer-generated version of this page) to the hard-copy record of the completed report that the bank places in its files.

 

FDIC Certificate Number:

  

00867

(RCRI 9050)

            

 

SUNTRUST BANK

Legal Title of Bank (TEXT 9010)

    

ATLANTA

    

City (TEXT 9130)

    

GA

  

30302

State Abbrev. (TEXT 9200)

  

Zip Code (TEXT 9220)

 

Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency.

    

FFIEC 031

Consolidated Reports of Condition and Income for   

Page i

A Bank With Domestic and Foreign Offices    2

 

Table of Contents

 

Signature Page

    Cover

Contact Information

    ii

Report of Income

     

Schedule RI - Income Statement

    RI-1, 2, 3

Schedule RI-A - Changes in Equity Capital

    RI-4

Schedule RI-B - Charge-offs and Recoveries on Loans and Leases and Changes in Allowance for Loan and Lease Losses

    RI-4, 5, 6

Schedule RI-D - Income from International Operations

    RI-6

Schedule RI-E - Explanations

    RI-7, 8

 

Disclosure of Estimated Burden

 

The estimated average burden associated with this information collection is 37.0 hours per respondent and is estimated to vary from 15 to 550 hours per response, depending on individual circumstances. Burden estimates include the time for reviewing instructions, gathering and maintaining data in the required form, and completing the information collection, but exclude the time for compiling and maintaining business records in the normal course of a respondent’s activities. A Federal agency may not conduct or sponsor, and an organization (or a person) is not required to respond to a collection of information, unless it displays a currently valid OMB control number. Comments concerning the accuracy of this burden estimate and suggestions for reducing this burden should be directed to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, D.C. 20503, and to one of the following:

 

Secretary

Board of Governors of the Federal Reserve System

Washington, D.C. 20551

 

Legislative and Regulatory Analysis Division

Office of the Comptroller of the Currency

Washington, D.C. 20219

 

Assistant Executive Secretary

Federal Deposit Insurance Corporation

Washington, D.C. 20429

 

Report of Condition

     

Schedule RC - Balance Sheet

    RC-1, 2

Schedule RC-A - Cash and Balances Due From Depository Institutions

    RC-3

Schedule RC-B - Securities

    RC-3, 4, 5

Schedule RC-C - Loans and Lease Financing Receivables:

     

Part I. Loans and Leases

    RC-6, 7

Part II. Loans to Small Businesses and Small Farms (to be completed for the June report only; not included in the forms for the September and December reports)

    RC-7a, 7b

Schedule RC-D - Trading Assets and Liabilities (to be completed only by selected banks)

    RC-8

Schedule RC-E - Deposit Liabilities

    RC-9, 10

Schedule RC-F - Other Assets

    RC-11

Schedule RC-G - Other Liabilities

    RC-11

Schedule RC-H - Selected Balance Sheet Items for Domestic Offices

    RC-12

Schedule RC-I - Assets and Liabilities of IBFs

    RC-12

Schedule RC-K - Quarterly Averages

    RC-13

Schedule RC-L - Derivatives and Off-Balance Sheet Items

    RC-14, 15

Schedule RC-M - Memoranda

    RC-16

Schedule RC-N - Past Due and Nonaccrual Loans, Leases, and Other Assets

    RC-17, 18

Schedule RC-O - Other Data for Deposit Insurance and FICO Assessments

    RC-19, 20

Schedule RC-R - Regulatory Capital

    RC-21, 22, 23, 24

Schedule RC-S - Servicing, Securitization, and Asset Sales Activities

    RC-25, 26, 27

Schedule RC-T - Fiduciary and Related Services

    RC-28, 29, 30

Optional Narrative Statement Concerning the Amounts Reported in the Reports of Condition and Income

    RC-31

Special Report (to be completed by all banks)

     

 

For information or assistance, National and State nonmember banks should contact the FDIC’s Reports Analysis and Quality Control Section, 550 17th Street, NW, Washington, D.C. 20429, toll free on (800) 688-FDIC(3342), Monday through Friday between 8:00 a.m. and 5:00 p.m., Eastern time. State member banks should contact their Federal Reserve District Bank.

    

1.g¨10¨Ot

    

Page ii

     3

 

Emergency Contact Information

 

This information is being requested so the Agencies can distribute critical, time sensitive information to emergency contacts at banks. Please provide primary contact information for a senior official of the bank who has decision-making authority. Also provide information for a secondary contact if available. Enter “none” for the contact’s e-mail address or fax number if not available. Emergency contact information is for the confidential use of the Agencies and will not be released to the public.

 

Primary Contact   Secondary Contact

Deborah Barnhart

Name (TEXT C366)

  

Name (TEXT C371)

AVP

Title (TEXT C367)

  

Title (TEXT C372)

Deborah.Barnhart@Suntrust.com

E-Mail Address (TEXT C368)

  

E-Mail Address (TEXT C373)

404-827-6622

Telephone: Area code/phone number/extension (TEXT C369)

  

Telephone: Area code/phone number/extension (TEXT C374)

404-827-6501

Fax: Area code/phone number (TEXT C370)

  

Fax: Area code/phone number (TEXT C375)

 

USA PATRIOT Act Section 314(a) Anti-Money Laundering Contact Information

 

This information is being requested to identify points-of-contact who are in charge of your depository institution’s Section 314(a) searches and who could be contacted by federal law enforcement officers for additional information related to anti-terrorist financing and anti-money laundering. Please provide information for a secondary contact if available. Enter “none” for the contacts’s e-mail address or fax number if not available. USA PATRIOT Act contact information is for the confidential use of the Agencies and will not be released to the public.

 

Primary Contact   Secondary Contact

Deborah Barnhart

Name (TEXT C437)

  

Name (TEXT C442)

AVP

Title (TEXT C438)

  

Title (TEXT C443)

Deborah.Barnhart@suntrust.com

E-Mail Address (TEXT C439)

  

E-Mail Address (TEXT C444)

404-827-6622

Telephone: Area code/phone number/extension (TEXT C440)

  

Telephone: Area code/phone number/extension (TEXT C445)

404-827-6501

Fax: Area code/phone number (TEXT C441)

  

Fax: Area code/phone number (TEXT C446)

SUNTRUST BANK

       

FFIEC 031

Legal Title of Bank

       

RI-1

ATLANTA

         

City

        4

GA

  

30302

         

State

  

Zip Code

         

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

         

FDIC Certificate Number - 00867

         

 

Consolidated Report of Income for the period January 1, 2003—June 30, 2003

 

All Report of Income schedules are to be reported on a calendar year-to-date basis in thousands of dollars.

 

Schedule RI—Income Statement

 

Dollar Amounts in Thousands
    RIAD
    Bil | Mil | Thou
     
1.    Interest Income:               
     a.    Interest and fee income on loans:               
          (1)    In domestic offices:               
               (a)     Loans secured by real estate    4011    1,117,909    1.a.1.a
               (b)     Loans to finance agricultural production and other loans to farmers    4024    2,226    1.a.1.b
               (c)     Commercial and industrial loans    4012    363,319    1.a.1.c
               (d)     Loans to individuals for household, family, and other personal expenditures:               
                     (1)    Credit cards    B485    0    1.a.1.d.1
                     (2)    Other (includes single payment, installment, all student loans, and revolving credit plans other than credit cards)    B486    387,211    1.a.1.d.2
               (e )   Loans to foreign governments and official institutions    4056    167    1.a.1.e
               (f )   All other loans in domestic offices    B487    81,324    1.a.1.f
          (2)    In foreign offices, Edge and Agreement subsidiaries, and IBFs    4059    0    1.a.2
          (3)    Total interest and fee income on loans (sum of items 1.a.(1)(a) through 1.a.(2))    4010    1,952,156    1.a.3
     b.    Income from lease financing receivables    4065    76,083    1.b
     c.    Interest income on balances due from depository institutions: (1)    4115    133    1.c
     d.    Interest and dividend income on securities:               
          (1)    U.S. Treasury securities and U.S. Government agency obligations (excluding
mortgage-backed securities)		    B488    49,003    1.d.1
          (2)    Mortgage-backed securities    B489    148,786    1.d.2
          (3)    All other securities (includes securities issued by states and political subdivisions in
the U.S.)		    4060    110,652    1.d.3
     e.    Interest income from trading assets    4069    3,105    1.e
     f.    Interest income on federal funds sold and securities purchased under agreements to resell    4020    24,799    1.f
     g.    Other interest income    4518    13,410    1.g
     h.    Total interest income (sum of items 1.a.(3) through 1.g)    4107    2,378,127    1.h
2.    Interest expense:               
     a.    Interest on deposits:               
          (1)    Interest on deposits in domestic offices:               
               (a)     Transaction accounts (NOW accounts, ATS accounts, and telephone and preauthorized transfer accounts)    4508    2,582    2.a.1.a
               (b)     Nontransaction accounts:               
                     (1)    Savings deposits (includes MMDAs)    0093    169,963    2.a.1.b.1
                     (2)    Time deposits of $100,000 or more    A517    103,824    2.a.1.b.2
                     (3)    Time deposits of less than $100,000    A518    112,647    2.a.1.b.3
          (2)    Interest on deposits in foreign offices, Edge and Agreement subsidiaries, and IBFs    4172    42,242    2.a.2
     b.    Expense of federal funds purchased and securities sold under agreements to repurchase    4180    77,253    2.b
     c.    Interest on trading liabilities and other borrowed money    4185    151,738    2.c
(1)   Includes interest income on time certificates of deposits not held for trading.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-2

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    5

 

Schedule RI—Continued

 

                    Year-to-date
                

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
                
2.    Interest expense (continued):                          
     d.    Interest on subordinated notes and debentures    4200    45,946               2.d
     e.    Total interest expense (sum of items 2.a through 2.d)    4073    706,195               2.e
3.    Net interest income (item 1.h minus 2.e)               4074    1,671,932    3
4.    Provision for loan and lease losses               4230    162,443    4
5.    Noninterest income:                          
     a.    Income from fiduciary activities (1)    4070    210,474               5.a
     b.    Service charges on deposit accounts in domestic offices    4080    315,775               5.b
     c.    Trading revenue (2)    A220    26,609               5.c
     d.    Investment banking, advisory, brokerage, and underwriting fees and commissions    B490    116,647               5.d
     e.    Venture capital revenue    B491    0               5.e
     f.    Net servicing fees    B492    (24,069 )             5.f
     g.    Net securitization income    B493    0               5.g
     h.    (1)    Insurance and reinsurance underwriting income    C386    0               5.h.1
          (2)    Income from other insurance activities    C387    13,697               5.h.2
     i.    Net gains (losses) on sales of loans and leases    5416    (19,687 )             5.i
     j.    Net gains (losses) on sales of other real estate owned    5415    1,354               5.j
     k.    Net gains (losses) on sales of other assets (excluding securities)    B496    (234 )             5.k
     l.    Other noninterest income*    B497    293,636               5.l
     m.    Total noninterest income (sum of items 5.a through 5.l)               4079    934,202    5.m
6.    a.    Realized gains (losses) on held-to-maturity securities               3521    0    6.a
     b.    Realized gains (losses) on available-for-sale securities               3196    56,456    6.b
7.    Noninterest expense:                          
     a.    Salaries and employee benefits    4135    831,397               7.a
     b.    Expenses of premises and fixed assets (net of rental income) (excluding salaries and employee benefits and mortgage interest)    4217    209,717               7.b
     c.    (1)    Goodwill impairment losses    C216    0               7.c.1
          (2)    Amortization expense and impairment losses for other intangible assets    C232    31,869               7.c.2
     d.    Other noninterest expense *    4092    464,012               7.d
     e.    Total noninterest expense (sum of items 7.a through 7.d)               4093    1,536,995    7.e
8.    Income (loss) before income taxes and extraordinary items, and other adjustments (item 3 plus or minus items 4, 5.m, 6.a, 6.b, and 7.e)               4301    963,152    8
9.    Applicable income taxes (on item 8)               4302    291,846    9
10.    Income (loss) before extraordinary items and other adjustments                          
     (item 8 minus item 9)               4300    671,306    10
11.    Extraordinary items and other adjustments, net of income taxes *               4320    0    11
12.    Net income (loss) (sum of items 10 and 11)               4340    671,306    12
*   Describe on Schedule RI-E - Explanations.
(1)   For banks required to complete Schedule RC-T, items 12 through 19, income from fiduciary activities reported in Schedule RI, item 5.a, must equal the amount reported in Schedule RC-T, item 19.
(2)   For banks required to complete Schedule RI, Memorandum item 8, trading revenue reported in Schedule RI, item 5.c must equal the sum of Memorandum items 8.a through 8.d.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-3

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    6

 

Schedule RI—Continued

 

                    Year-to-Date
      

Memoranda

   

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
      
1.    Interest expense incurred to carry tax-exempt securities, loans, and leases acquired after August 7, 1986, that is not deductible for federal income tax purposes    4513    1,920     M.1
2.    Income from the sale and servicing of mutual funds and annuities in domestic offices (included in Schedule RI, item 8)    8431    70,554     M.2
3.    Income on tax-exempt loans and leases to states and political subdivisions in the U.S. (included in Schedule RI, items 1.a and 1.b)    4313    47,932     M.3
4.    Income on tax-exempt securities issued by states and political subdivisions in the U.S. (included in Schedule RI, item 1.d.(3))    4507    5,893     M.4
               Number
      
5.    Number of full-time equivalent employees at end of current period (round to nearest whole number)    4150    25,872     M.5
6.    Not applicable                
          CCYY / MM / DD
      
7.    If the reporting bank has restated its balance sheet as a result of applying push down accounting this calendar year, report the date of the bank’s acquisition (1)    9106    N/A     M.7
8.    Trading revenue (from cash instruments and derivative instruments) (sum of Memorandum items 8.a through 8.d must equal Schedule RI, item 5.c)                
     (To be completed by banks that reported average trading assets (Schedule RC-K, item 7) of $2 million or more for any quarter of the preceding calendar year.):                
          RIAD
    Bil | Mil | Thou
      
     a.    Interest rate exposures    8757    16,226     M.8.a
     b.    Foreign exchange exposures    8758    10,383     M.8.b
     c.    Equity security and index exposures    8759    0     M.8.c
     d.    Commodity and other exposures    8760    0     M.8.d
               RIAD
    Bil | Mil | Thou
      
9.    Impact on income of derivatives held for purposes other than trading:                
     a.    Net increase (decrease) to interest income    8761    (332 )   M.9.a
     b.    Net (increase) decrease to interest expense    8762    (16,412 )   M.9.b
     c.    Other (noninterest) allocations    8763    0     M.9.c
10.    Credit losses on derivatives (see instructions)    A251    0     M.10
               YES / NO
      
11.    Does the reporting bank have a Subchapter S election in effect for federal income tax purposes for the current tax year ?                
               A530    NO     M.11
(1)   For example, a bank acquired on June 1, 2001, would report 20010601

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-4

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    7

 

Schedule RI-A—Changes in Equity Capital

 

Indicate decreases and losses in parentheses.

 

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
      
1.    Total equity capital most recently reported for the December 31, 2002, Reports of Condition and Income (i.e., after adjustments from amended Reports of Income)    3217    9,025,108     1
2.    Restatements due to corrections of material accounting errors and changes in accounting principles*    B507    0     2
3.    Balance end of previous calendar year as restated (sum of items 1 and 2)    B508    9,025,108     3
4.    Net income (loss) (must equal Schedule RI, item 12)    4340    671,306     4
5.    Sale, conversion, acquisition, or retirement of capital stock, net (excluding treasury stock transactions)    B509    0     5
6.    Treasury stock transactions, net    B510    0     6
7.    Changes incident to business combinations, net    4356    126,158     7
8.    LESS: Cash dividends declared on preferred stock    4470    0     8
9.    LESS: Cash dividends declared on common stock    4460    400,000     9
10.    Other comprehensive income (1)    B511    (895 )   10
11.    Other transactions with parent holding company * (not included in items 5, 6, 8, or 9 above)    4415    72,030     11
12.    Total equity capital end of current period (sum of items 3 through 11) (must equal Schedule RC, item 28)    3210    9,493,707     12
*   Describe on Schedule RI-E - Explanations.
(1)   Includes changes in net unrealized holding gains (losses) on available-for-sale securities, changes in accumulated net gains (losses) on cash flow hedges, foreign currency translation adjustments, and changes in minimum pension liability adjustments.

 

Schedule RI-B—Charge-offs and Recoveries on Loans and Leases and Changes in Allowance for Loan and Lease Losses

 

Part I. Charge-offs and Recoveries on Loans and Leases

 

Part I includes charge-offs and recoveries through the allocated transfer risk reserve.

 

    

( Column A )

Charge-offs (1)

   

( Column B )

Recoveries

     
     Calendar year-to-date
     

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
    RIAD
    Bil | Mil | Thou
     
1.    Loans secured by real estate:                         
     a.    Construction, land development, and other land loans in domestic
offices		    3582    674    3583    371    1.a
     b.    Secured by farmland in domestic offices    3584    0    3585    0    1.b
     c.    Secured by 1-4 family residential properties in domestic offices:                         
          (1)   Revolving, open-end loans secured by 1-4 family residential
properties and extended under lines of credit		    5411    2,268    5412    718    1.c.1
          (2)   Closed-end loans secured by 1-4 family residential properties:                         
              (a)   Secured by first liens    C234    5,110    C217    1,479    1.c.2.a
              (b)   Secured by junior liens    C235    690    C218    200    1.c.2.b
     d.    Secured by multifamily (5 or more) residential properties in domestic
offices		    3588    0    3589    0    1.d
     e.    Secured by nonfarm nonresidential properties in domestic offices    3590    1,359    3591    555    1.e
     f.    In foreign offices    B512    0    B513    0    1.f
2.    Loans to depository institutions and acceptances of other banks:                         
     a.    To U.S. banks and other U.S. depository institutions    4653    0    4663    0    2.a
     b.    To foreign banks    4654    0    4664    0    2.b
3.    Loans to finance agricultural production and other loans to farmers    4655    0    4665    0    3
4.    Commercial and industrial loans:                         
     a.    To U.S. addressees (domicile)    4645    99,806    4617    12,934    4.a
     b.    To non-U.S. addressees (domicile)    4646    0    4618    11    4.b
(1)   Include write-downs arising from transfers of loans to a held-for-sale account.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-5

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    8

 

Schedule RI-B—Continued

 

Part I. Continued

 

              

( Column A )

Charge-offs (1)

   

( Column B )

Recoveries

     
               Calendar year-to-date
     

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
    RIAD
    Bil | Mil | Thou
     
5.    Loans to individuals for household, family, and other personal
expenditures:		                         
     a.    Credit cards    B514    0    B515    0    5.a
     b.    Other (includes single payment, installment, all student loans and revolving credit plans other than credit cards)    B516    78,408    B517    18,035    5.b
6.    Loans to foreign governments and official institutions    4643    0    4627    0    6
7.    All other loans    4644    6,694    4628    2,776    7
8.    Lease financing receivables:                         
     a.    To U.S. addressees (domicile)    4658    3,402    4668    726    8.a
     b.    To non-U.S. addressees (domicile)    4659    0    4669    0    8.b
9.    Total (sum of items 1 through 8)    4635    198,411    4605    37,805    9

 

Memoranda   

( Column A )

Charge-offs (1)

   

( Column B )

Recoveries

     
        

Calendar

year-to-date

     

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
    RIAD
    Bil | Mil | Thou
     
1.   Loans to finance commercial real estate, construction, and land development activities (not secured by real estate) included in Schedule RI-B, part I, items 4 and 7, above    5409    178    5410    0    M.1
2.   Loans secured by real estate to non-U.S. addresses (domicile) (included in Schedule RI-B, part I, item 1, above):    4652    0    4662    0    M.2
3.   Not applicable.                         
                  

Calendar

year-to-date

     
                   RIAD
    Bil | Mil | Thou
     
4)   Memorandum item 4 is to be completed by banks that (1) together with affiliated institutions, have outstanding credit card receivables (as defined in the instructions) that exceed $500 million as of the report date or (2) are credit card specialty banks as defined for Uniform Bank Performance Report purposes.                         
    Uncollectible retail credit card fees and finance charges reversed against income (i.e., not included in charge-offs against the allowance for loan and lease losses)              C388    0    M.4
(1)   Include write-downs arising from transfers of loans to a held-for-sale account.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-6

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    9

 

Part II. Changes in Allowance for Loan and Lease Losses

 

Dollar Amounts in Thousands
    RIAD
    Bil | Mil | Thou
     
1.   Balance most recently reported for the December 31, 2002, Reports of Condition and Income (i.e., after adjustments from amended Reports of Income)    B522    912,350    1
2.   Recoveries (must equal part I, item 9, column B above)    4605    37,805    2
3.   LESS: Charge-offs (must equal part I, item 9, column A above less Schedule RI-B, part II, item 4)    C079    198,411    3
4.   LESS: Write-downs arising from transfers of loans to a held-for-sale account    5523    0    4
5.   Provision for loan and lease losses (must equal Schedule RI, item 4)    4230    162,443    5
6.   Adjustments * (see instructions for this schedule)    C233    18,623    6
7.   Balance end of current period (sum of items 1, 2, 5, and 6, less items 3 and 4) (must equal Schedule RC, item 4.c)    3123    932,810    7

 

 

Memoranda            
Dollar Amounts in Thousands
   RIAD
   Bil | Mil | Thou
    
1.   Allocated transfer risk reserve included in Schedule RI-B, part II, item 7, above   C435   0   M.1
Memorandum items 2 and 3 are to be completed by banks that (1) together with affiliated institutions,
have outstanding credit card receivables (as defined in the instructions) that exceed $500 million as of
the report date or (2) are credit card specialty banks as defined for Uniform Bank Performance Report
purposes.		            
2.   Separate valuation allowance for uncollectible retail credit card fees and finance charges   C389   0   M.2
3.   Amount of allowance for loan and leases losses attributable to retail credit card fees and finance charges   C390   0   M.3
*   Describe on Schedule RI-E—Explanations.

 

Schedule RI-D—Income from International Operations

 

For all banks with foreign offices, Edge or Agreement subsidiaries, or IBFs where international operations account for more than 10 percent of total revenues, total assets, or net income.

 

          Year-to-Date
     
Dollar Amounts in Thousands
    RIAD
    Bil | Mil | Thou
     
1.   Interest income and expense attributable to international operations:               
    a.   Gross interest income    B523    0    1.a
    b.   Gross interest expense    B524    0    1.b
2.   Net interest income attributable to international operations (item 1.a minus 1.b)    B525    0    2.
3.   Noninterest income and expense attributable to international operations:               
    a.   Noninterest income attributable to international operations    4097    0    3.a
    b.   Provision for loan and lease losses attributable to international operations    4235    0    3.b
    c.   Other noninterest expense attributable to international operations    4239    0    3.c
    d.   Net noninterest income (expense) attributable to international operations (item 3.a minus 3.b and 3.c)   

4843

    0    3.d
4.   Estimated pretax income attributable to international operations before capital allocation adjustment
(sum of items 2 and 3.d)		    4844    0   

4

5.   Adjustment to pretax income for internal allocations to international operations to reflect the effects of
equity capital on overall bank funding costs		    4845    0    5
6.   Estimated pretax income attributable to international operations after capital allocation adjustment (sum
of items 4 and 5)		    4846    0    6
7.   Income taxes attributable to income from international operations as estimated in item 6    4797    0    7
8.   Estimated net income attributable to international operations (item 6 minus 7)    4341    0    8

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-7

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    10

 

Schedule RI-E—Explanations

 

Schedule RI-E is to be completed each quarter on a calendar year-to-date basis.

 

Detail all adjustments in Schedules RI-A and RI-B, all extraordinary items and other adjustments in Schedule RI, and all significant items of other noninterest income and other noninterest expense in Schedule RI. (See instructions for details.)

 

          Year-to-Date
     
Dollar Amounts in Thousands
    RIAD
    Bil | Mil | Thou
     
1.    Other noninterest income (from Schedule RI, item 5.l) Itemize and describe amounts that
exceed 1% of the sum of Schedule RI, items 1.h and 5.m:		               
              TEXT               
     a.        Income and fees from the printing and sale of checks    C013    0    1.a
     b.        Earnings on/increase in value of cash surrender value of life insurance    C014    0    1.b
     c.        Income and fees from automated teller machines (ATMs)    C016    33,696    1.c
     d.        Rent and other income from other real estate owned    4042    0    1.d
     e.        Safe deposit box rent    C015    0    1.e
     f.   4461    Orig Mtg Srv Rights    4461    111,338    1.f
     g.   4462         4462    N/A    1.g
     h.   4463         4463    N/A    1.h
2.    Other noninterest expense (from Schedule RI, item 7.d): Itemize and describe amounts that
exceed 1% of the sum of of Schedule RI, items 1.h and 5.m:		               
              TEXT               
     a.        Data processing expenses    C017    59,858    2.a
     b.        Advertising and marketing expenses    0497    46,545    2.b
     c.        Director’s fees    4136    0    2.c
     d.        Printing, stationery, and supplies    C018    0    2.d
     e.        Postage    8403    33,944    2.e
     f.        Legal fees and expenses    4141    0    2.f
     g.        FDIC deposit insurance assessments    4146    0    2.g
     h.   4464         4464    N/A    2.h
     i.   4467         4467    N/A    2.I
     j.   4468         4468    N/A    2.j
3.    Extraordinary items and other adjustments and applicable income tax effect (from Schedule
RI, Item 11) (itemize and describe all extraordinary items and other adjustments):		               
              TEXT                        
a.    (1)   4469             4469    N/A    3.a.1
         (2) Applicable income tax effect   4486    0              3.a.2
b.    (1)   4487             4487    N/A    3.b.1
         (2) Applicable income tax effect   4488    0              3.b.2
c.    (1)   4489             4489    N/A    3.c.1
         (2) Applicable income tax effect   4491    0              3.c.2

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-8

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

FDIC Certificate Number - 00867

    11

 

Schedule RI-E—Continued

 

          Year-to-Date
     

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
     

4.

    Restatements due to corrections of material accounting errors and changes in accounting
principles (from Schedule RI-A, item 2) (itemize and describe all restatements):		               
               TEXT               
     a.    B526         B526    N/A    4.a
     b.    B527         B527    N/A    4.b

5.

    Other transactions with parent holding company (from Schedule RI-A, item 11) (itemize and
describe all such transactions):		               
               TEXT               
     a.    4498    Capital Contribution    4498    72,030    5.a
     b.    4499         4499    N/A    5.b

6.

    Adjustments to allowance for loan and lease losses (from Schedule RI-B, part II, item 6)
(itemize and describe all adjustments):		               
               TEXT               
     a.    4521    PAC Allowance for loan losses    4521    9,299    6.a
     b.    4522    Lighthouse Acquisition              4522    9,324    6.b

7.

    Other explanations (the space below is provided for the bank to briefly describe, at
its option, any other significant items affecting the Report of Income):		    RIAD                    
                   
                   
     X = NO COMMENT—Y = COMMENT    4769    X               
     Other explanations (please type or print clearly):               
               TEXT ( 70 characters per line )                         
          4769   

 

               
              

 

               
              

 

               
              

 

               
              

 

               
              

 

               
              

 

               
              

 

               
              

 

               
              

 

               

SUNTRUST BANK

       

FFIEC 031

Legal Title of Bank

       

RC-1

ATLANTA

         

City

        12

GA

  

30302

         

State

  

Zip Code

         

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

         

FDIC Certificate Number - 00867

         

 

Consolidated Report of Condition for Insured Commercial

and State-Chartered Savings Banks for June 30, 2003

 

All schedules are to be reported in thousands of dollars. Unless otherwise indicated, report the amount outstanding as of the last business day of the quarter.

 

Schedule RC—Balance Sheet

 

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     
ASSETS               
1.    Cash and balances due from depository institutions (from Schedule RC-A):               
     a.    Noninterest-bearing balances and currency and coin (1)    0081    4,469,018    1.a
     b.    Interest-bearing balances (2)    0071    15,820    1.b
2.    Securities:               
     a.    Held-to-maturity securities (from Schedule RC-B, column A)    1754    0    2.a
     b.    Available-for-sale securities (from Schedule RC-B, column D)    1773    19,854,955    2.b
3.    Federal funds sold and securities purchased under agreements to resell:               
                         RCON
          
     a.    Federal funds sold in domestic offices    B987    436,600    3.a
               RCFD
          
     b.    Securities purchased under agreements to resell (3)    B989    3,771,321    3.b
4.    Loans and lease financing receivables (from Schedule RC-C):               
     a.    Loans and leases held for sale    5369    9,037,490    4.a
     b.    Loans and leases, net of unearned income    B528    75,008,023              4.b
     c.    LESS: Allowance for loan and lease losses    3123    932,810              4.c
     d.    Loans and leases, net of unearned income and allowance (item 4.b minus 4.c)    B529    74,075,213    4.d
5.    Trading assets (from Schedule RC-D)    3545    1,472,750    5
6.    Premises and fixed assets (including capitalized leases)    2145    1,296,757    6
7.    Other real estate owned (from Schedule RC-M)    2150    29,826    7
8.    Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M)    2130    0    8
9.    Customers’ liability to this bank on acceptances outstanding    2155    84,980    9
10.    Intangible assets:               
     a.    Goodwill    3163    862,393    10.a
     b.    Other intangible assets (from Schedule RC-M)    0426    607,990    10.b
11.    Other assets (from Schedule RC-F)    2160    2,730,050    11
12.    Total assets (sum of items 1 through 11)    2170    118,745,163    12
(1)   Includes cash items in process of collection and unposted debits.
(2)   Includes time certificates of deposit not held for trading.
(3)   Includes all securities resale agreements in domestic and foreign offices, regardless of maturity.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-2

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    13

 

Schedule RC—Continued

 

Dollar Amounts in Thousands

         Bil | Mil | Thou
     
LIABILITIES               
13.    Deposits:               
                              RCON
          
     a.   

In domestic offices (sum of totals of columns A and C

from Schedule RC-E, part I)

    2200    74,459,262    13.a
          (1)    Noninterest-bearing (1)    6631    10,248,343              13.a.1
          (2)    Interest-bearing    6636    64,210,919              13.a.2
                              RCFN
          
     b.   

In foreign offices, Edge and Agreement subsidiaries, and

IBFs (from Schedule RC-E, part II)

    2200    2,934,964    13.b
          (1)    Noninterest-bearing    6631    0              13.b.1
          (2)    Interest-bearing    6636    2,934,963              13.b.2
14.   

Federal funds purchased and securities sold under agreements to

repurchase:

               
                              RCON
          
     a.    Federal funds purchased in domestic offices (2)    B993    8,979,352    14.a
                              RCFD
          
     b.    Securities sold under agreements to repurchase (3)    B995    8,422,227    14.b
15.    Trading liabilities (from Schedule RC-D)    3548    1,179,121    15
16.   

Other borrowed money (includes mortgage indebtedness and

obligations under capitalized leases) (from Schedule RC-M)

    3190    7,252,577    16
17.    Not applicable               
18.    Bank’s liability on acceptances executed and outstanding    2920    84,980    18
19.    Subordinated notes and debentures(4)    3200    2,149,629    19
20.    Other liabilities (from Schedule RC-G)    2930    2,777,007    20
21.    Total liabilities (sum of items 13 through 20)    2948    108,239,119    21
22.    Minority interest in consolidated subsidiaries    3000    1,012,337    22
EQUITY CAPITAL               
23.    Perpetual preferred stock and related surplus    3838    0    23
24.    Common stock    3230    21,600    24
25.    Surplus (exclude all surplus related to preferred stock)    3839    2,734,106    25
26.    a.    Retained earnings    3632    5,845,041    26.a
     b.    Accumulated other comprehensive income (5)    B530    892,960    26.b
27.    Other equity capital components (6)    A130    0    27
28.    Total equity capital (sum of items 23 through 27)    3210    9,493,707    28
29.   

Total liabilities, minority interest, and equity capital

(sum of items 21, 22, and 28)

    3300    118,745,163    29

 

Memorandum

 

To be reported only with the March Report of Condition.

 

          RCFD
    Number
     

1.

    Indicate in the box at the right the number of the statement below that best describes the most comprehensive level of auditing work performed for the bank by independent external auditors as of any date during 2002    6724    N/A    M.1

 

1 =   Independent audit of the bank conducted in accordance with generally accepted auditing standards by a certified public accounting firm which submits a report on the bank

 

2 =   Independent audit of the bank’s parent holding company conducted in accordance with generally accepted auditing standards by a certified public accounting firm which submits a report on the consolidated holding company (but not on the bank separately)

 

3 =   Attestation on bank management’s assertion on the effectiveness of the bank’s internal control over financial reporting by a certified public accounting firm

 

4 =   Directors’ examination of the bank conducted in accordance with generally accepted auditing standards by a certified public accounting firm (may be required by state chartering authority)

 

5 =   Directors’ examination of the bank performed by other external auditors (may be required by state chartering authority)

 

6 =   Review of the bank’s financial statements by external auditors

 

7 =   Compilation of the bank’s financial statements by external auditors

 

8 =   Other audit procedures (excluding tax preparation work)

 

9 =   No external audit work
(1)   Includes total demand deposits and noninterest-bearing time and savings deposits.
(2)   Report overnight Federal Home Loan Bank advances in Schedule RC, item 16, “other borrowed money.”
(3)   Includes all securities repurchase agreements in domestic and foreign offices, regardless of maturity.
(4)   Includes limited-life preferred stock and related surplus.
(5)   Includes net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and minimum pension liability adjustments.
(6)   Includes treasury stock and unearned Employee Stock Ownership Plan shares.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-3

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

FDIC Certificate Number - 00867

    14

 

Schedule RC-A—Cash and Balances Due From Depository Institutions

 

Exclude assets held for trading.

 

    

(Column A)
Consolidated

Bank

   

(Column B)

Domestic

Offices

     

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
    RCON
    Bil | Mil | Thou
     
1.    Cash items in process of collection, unposted debits, and currency and Coin    0022    4,375,206              1
     a.    Cash items in process of collection and unposted debits              0020    3,665,333    1.a
     b.    Currency and coin              0080    709,873    1.b
2.    Balance due from depository institutions in the U.S.              0082    67,174    2
     a.    U.S. branches and agencies of foreign banks (including their IBFs)    0083    0              2.a
     b.    Other commercial banks in the U.S. and other depository institutions in the U.S. (including their IBFs)    0085    67,174              2.b
3.    Balances due from banks in foreign countries and foreign central banks              0070    42,458    3
     a.    Foreign branches of other U.S. banks    0073    0              3.a
     b.    Other banks in foreign countries and foreign central banks    0074    42,458              3.b
4.    Balances due from Federal Reserve Banks    0090    0    0090    0    4
5.    Total (sum of items 1 through 4) (total of column A must equal Schedule RC, sum of items 1.a and 1.b)    0010    4,484,838    0010    4,484,838    5

 

Schedule RC-B—Securities

 

Exclude assets held for trading.

 

     Held-to-maturity
    Available-for-sale
     
    

(Column A)

Amortized Cost

   

(Column B)

Fair Value

   

(Column C)

Amortized Cost

   

(Column D)

Fair Value

     

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
     
1.    U.S. Treasury securities    0211    0    0213    0    1286    58,488    1287    60,506    1
2.    U.S. Government agency obligations (exclude mortgage-backed securities):                                             
     a.    Issued by U.S. Government agencies (1)    1289    0    1290    0    1291    0    1293    0    2.a
     b.    Issued by U.S. Government-sponsored agencies (2)    1294    0    1295    0    1297    2,813,927    1298    2,869,301    2.b
3.    Securities issued by states and political subdivisions in the U.S.    8496    0    8497    0    8498    345,171    8499    367,541    3
(1)   Includes Small Business Administration ‘Guaranteed Loan Pool Certificates,’ U.S. Maritime Administration obligations, and Export—Import Bank participation certificates.
(2)   Includes obligations (other than mortgage-backed securities) issued by the Farm Credit System, the Federal Home Loan Bank System, The Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the Financing Corporation, Resolution Funding Corporation, the Student Loan Marketing Association, and the Tennessee Valley Authority.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-4

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

FDIC Certificate Number - 00867

    15

 

Schedule RC-B—Continued

 

                Held-to-maturity
   Available-for-sale
    
    (Column A)
Amortized Cost
  

(Column B)

Fair Value

   (Column C)
Amortized Cost
   (Column D)
Fair Value
    

Dollar Amounts in Thousands

   RCFD
   Bil | Mil | Thou
   RCFD
   Bil | Mil | Thou
   RCFD
   Bil | Mil | Thou
   RCFD
   Bil | Mil | Thou
    
4.   Mortgage-backed securities (MBS):                                    
    a.   Pass-through securities:                                    
        (1)   Guaranteed by GNMA   1698   0   1699   0   1701   102,855   1702   106,031   4.a.1
        (2)   Issued by FNMA and FHLMC   1703   0   1705   0   1706   2,530,005   1707   2,590,741   4.a.2
        (3)   Other pass-through securities   1709   0   1710   0   1711   348,712   1713   348,510   4.a.3
    b.  

Other mortgage-backed securities

(include CMOs, REMICs and stripped MBS):

                                    
        (1)   Issued or guaranteed by FNMA, FHLMC, or GNMA   1714   0   1715   0   1716   5,024,580   1717   5,021,426   4.b.1
        (2)   Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA   1718   0   1719   0   1731   211   1732   211   4.b.2
        (3)   All other mortgage-backed securities   1733   0   1734   0   1735   514,364   1736   513,872   4.b.3
5.   Asset-backed securities (ABS):                                    
    a.   Credit card receivables   B838   0   B839   0   B840   825,609   B841   835,458   5.a
    b.   Home equity lines   B842   0   B843   0   B844   2,318,053   B845   2,331,669   5.b
    c.   Automobile loans   B846   0   B847   0   B848   957,355   B849   968,230   5.c
    d.   Other consumer loans   B850   0   B851   0   B852   66,249   B853   66,313   5.d
    e.   Commercial and industrial loans   B854   0   B855   0   B856   4,100   B857   4,131   5.e
    f.   Other   B858   0   B859   0   B860   285,795   B861   284,986   5.f
6.   Other debt securities:                                    
    a.   Other domestic debt securities   1737   0   1738   0   1739   1,543,071   1741   1,605,276   6.a
    b.   Foreign debt securities   1742   0   1743   0   1744   3,300   1746   3,300   6.b
7.   Investments in mutual funds and other equity securities with readily determinable fair values (1)                   A510   699,848   A511   1,877,453   7
8.   Total (sum of items 1 through 7) (total of Column A must equal Schedule RC item 2.a) (total of column D must equal Schedule RC, item 2.b)   1754   0   1771   0   1772   18,441,693   1773   19,854,955   8
(1)   Report Federal Reserve stock, Federal Home Loan Bank stock, and banker’s bank stock in Schedule RC-F, item 4.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-5

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    16

 

Schedule RC-B—Continued

 

Memoranda

   

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     

1.

    Pledged securities (1)    0416    11,291,115    M.1

2.

    Maturity and repricing data for debt securities (1, 2) (excluding those in nonaccrual status):               
     a.    Securities issued by the U.S. Treasury, U.S. Government agencies, and states and political subdivisions in the U.S.; other non-mortgage debt securities; and mortgage pass-through securities other than those backed by closed-end first lien 1-4 family residential mortgages with a remaining maturity or next repricing date of: (3,4)               
          (1)    Three months or less    A549    2,857,078    M.2.a.1
          (2)    Over three months through 12 months    A550    486,090    M.2.a.2
          (3)    Over one year through three years    A551    3,413,268    M.2.a.3
          (4)    Over three years through five years    A552    1,258,134    M.2.a.4
          (5)    Over five years through 15 years    A553    1,071,714    M.2.a.5
          (6)    Over 15 years    A554    317,493    M.2.a.6
     b.    Mortgage pass-through securities backed by closed-end first lien 1-4 family residential mortgages with a remaining maturity or next repricing date of: (3,5)               
          (1)    Three months or less    A555    2,196,227    M.2.b.1
          (2)    Over three months through 12 months    A556    65,268    M.2.b.2
          (3)    Over one year through three years    A557    24,253    M.2.b.3
          (4)    Over three years through five years    A558    428,271    M.2.b.4
          (5)    Over five years through 15 years    A559    271,513    M.2.b.5
          (6)    Over 15 years    A560    52,684    M.2.b.6
     c.    Other mortgage-backed securities (include CMOs, REMICs, and stripped MBS; exclude mortgage pass-through securities) with an expected average life of: (6)               
          (1)    Three years or less    A561    4,945,656    M.2.c.1
          (2)    Over three years    A562    589,853    M.2.c.2
     d.    Debt securities with a REMAINING MATURITY of one year or less (included in Memorandum items 2.a through 2.c above)    A248    578,451    M.2.d

3.

    Amortized cost of held-to-maturity securities sold or transferred to available-for-sale or trading
securities during the calendar year-to-date (report the amortized cost at date of sale or transfer)		    1778    0    M.3

4.

    Structured notes (included in the held-to-maturity and available-for-sale accounts in Schedule
RC-B, items 2, 3, 5, and 6):		               
     a.    Amortized cost    8782    3,000    M.4.a
     b.    Fair value    8783    3,088    M.4.b
(1)   Includes held-to-maturity securities at amortized cost and available-for-sale securities at fair value.
(2)   Exclude investments in mutual funds and other equity securities with readily determinable fair values.
(3)   Report fixed rate debt securities by remaining maturity and floating rate debt securities by next repricing date.
(4)   Sum of Memorandum items 2.a.(1) through 2.a.(6) plus any nonaccrual debt securities in the categories of debt securities reported in Memorandum item 2.a that are included in Schedule RC-N, item 9, column C, must equal Schedule RC-B, sum of items 1, 2, 3, 5, and 6, columns A and D, plus mortgage pass-through securities other than those backed by closed-end first lien 1-4 family residential mortgages included in Schedule RC-B, item 4.a, columns A and D.
(5)   Sum of Memorandum items 2.b.(1) through 2.b.(6) plus any nonaccrual mortgage pass-through securities backed by closed-end first lien 1-4 family residential mortgages included in Schedule RC-N, item 9, column C, must equal Schedule RC-B, item 4.a, sum of columns A and D, less the amount of mortgage pass-through securities other than those backed by closed-end first lien 1-4 family residential mortgages included in Schedule RC-B, item 4.a, columns A and D.
(6)   Sum of Memorandum items 2.c.(1) and 2.c.(2) plus any nonaccrual “Other mortgage-backed securities” included in Schedule RC-N, item 9, column C, must equal Schedule RC-B, item 4.b, sum of columns A and D.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-6

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    17

 

Schedule RC-C—Loans and Lease Financing Receivables

 

Part I. Loans and Leases

 

Do not deduct the allowance for loan and lease losses or the allocated transfer risk reserve from amounts reported in this schedule. Report (1) loans and leases held for sale at the lower of cost or market value and (2) loans and leases held for investment, net of unearned income. Exclude assets held for trading and commercial paper.

 

    

(Column A)

Consolidated

Bank

   

(Column B)

Domestic

Offices

     

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
    RCON
    Bil | Mil | Thou
     
1.    Loans secured by real estate    1410    43,319,452              1
     a.    Construction, land development, and other land loans              1415    4,281,075    1.a
     b.    Secured by farmland (including farm residential and other improvements)              1420    185,399    1.b
     c.    Secured by 1-4 family residential properties:                         
          (1)    Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit              1797    6,171,234    1.c.1
          (2)    Closed-end loans secured by 1-4 family residential properties:                         
               (a)    Secured by first liens              5367    21,809,843    1.c.2.a
               (b)    Secured by junior liens              5368    1,732,737    1.c.2.b
     d.    Secured by multifamily (5 or more) residential properties              1460    477,464    1.d
     e.    Secured by nonfarm nonresidential properties              1480    8,661,700    1.e
2.    Loans to depository institutions and acceptances of other banks:                         
     a.    To commercial banks in the U.S.              B531    281,129    2.a
          (1)    To U.S. branches and agencies of foreign banks    B532    0              2.a.1
          (2)    To other commercial banks in the U.S.    B533    281,129              2.a.2
     b.    To other depository institutions in the U.S.    B534    1,980    B534    1,980    2.b
     c.    To banks in foreign countries              B535    23,175    2.c
          (1)    To foreign branches of other U.S. banks    B536    67              2.c.1
          (2)    To other banks in foreign countries    B537    23,108              2.c.2
3.    Loans to finance agricultural production and other loans to farmers    1590    78,731    1590    78,731    3
4.    Commercial and industrial loans:                         
     a.    To U.S. addressees (domicile)    1763    20,221,986    1763    20,221,986    4.a
     b.    To non-U.S. addressees (domicile)    1764    412,931    1764    412,931    4.b
5.    Not applicable.                         
6.    Loans to individuals for household, family, and other personal expenditures (i.e., consumer loans) (includes purchased paper):                         
     a.    Credit cards    B538    0    B538    0    6.a
     b.    Other revolving credit plans    B539    134,846    B539    134,846    6.b
     c.    Other consumer loans (includes single payment, installment, and and all student loans    2011    12,380,541    2011    12,380,541    6.c
7.    Loans to foreign government and official institutions (including foreign central banks)    2081    16,901    2081    16,901    7
8.    Obligations (other than securities and leases) of states and political subdivisions in the U.S.    2107    1,698,262    2107    1,698,262    8
9.    Other loans    1563    2,337,514              9
     a.    Loans for purchasing or carrying securities (secured and unsecured)              1545    987,766    9.a
     b.    All other loans (exclude consumer loans)              1564    1,349,748    9.b
10.    Lease financing receivables (net of unearned income)              2165    3,138,065    10
     a.    Of U.S. addressees (domicile)    2182    3,138,065              10.a
     b.    Of non-U.S. addressees (domicile)    2183    0              10.b
11.    LESS: Any unearned income on loans reflected in items 1-9 above    2123    0    2123    0    11
12.    Total loans and leases, net of unearned income (sum of items 1 through 10 minus item 11) (total of column A must equal Schedule RC, item 4.a and 4.b)    2122    84,045,513    2122    84,045,513    12

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-7

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    18

 

Schedule RC-C—Continued

 

Part I. Continued

 

Memoranda

   

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     

1.

    Loans and Leases restructured and in compliance with modified terms (included in Schedule RC-C, part I, and not reported as past due or nonaccrual in Schedule RC-N, Memorandum item 1) (exclude loans secured by 1-4 family residential properties and loans to individuals for household, family, and other personal expenditures)    1616    0    M.1

2.

    Maturity and repricing data for loans and leases (excluding those in nonaccrual status):               
     a.    Closed-end loans secured by first liens on 1-4 family residential properties in domestic offices (reported in Schedule RC-C, part I, item 1.c.(2)(a), column B) with a remaining maturity or next repricing date of: (1, 2)               
               RCON
          
          (1)    Three months or less    A564    1,396,440    M.2.a.1
          (2)    Over three months through 12 months    A565    1,887,114    M.2.a.2
          (3)    Over one year through three years    A566    4,001,281    M.2.a.3
          (4)    Over three years through five years    A567    3,562,703    M.2.a.4
          (5)    Over five years through 15 years    A568    3,884,329    M.2.a.5
          (6)    Over 15 years    A569    7,010,040    M.2.a.6
     b.    All loans and leases (reported in Schedule RC-C, part I, items 1 through 10, column A) EXCLUDING closed-end loans secured by first liens on 1-4 family residential properties in domestic offices (reported in Schedule RC-C, part I item 1.c.(2)(a), column B) with a remaining maturity or next repricing date of: (1,3)               
               RCFD
          
          (1)    Three months or less    A570    34,080,528    M.2.b.1
          (2)    Over three months through 12 months    A571    2,545,530    M.2.b.2
          (3)    Over one year through three years    A572    4,417,870    M.2.b.3
          (4)    Over three years through five years    A573    10,960,694    M.2.b.4
          (5)    Over five years through 15 years    A574    5,361,499    M.2.b.5
          (6)    Over 15 years    A575    4,455,987    M.2.b.6
     c.    Loans and leases (reported in Schedule RC-C, part I, items 1 through 10, column A) with a REMAINING MATURITY of one year or less (excluding those in nonaccrual status)    A247    15,746,300    M.2.c

3.

    Loans to finance commercial real estate, construction, and land development activities (not secured by real estate) included in Schedule RC-C, part I, items 4 and 9, column A (4)    2746    1,754,129    M.3

4.

    Adjustable rate closed-end loans secured by first liens on 1-4 family residential properties in domestic offices               
          RCON
          
     (included in Schedule RC-C, part I, item 1.c.(2)(a), column B)    5370    19,098,711    M.4
                
     RCFD
          

5.

    Loans secured by real estate to non-U.S. addresses (domicile) (included in Schedule RC-C, part I, item 1, column A)    B837    31,428    M.5

6)

    Memorandum item 6 is to be completed by banks that (1) together with affiliated institutions, have outstanding credit card receivables (as defined in the instructions) that exceed $500 million as of the report date or (2) are credit card specialty banks as defined for Uniform Bank Performance Report purposes.               
     Outstanding credit card fees and finance charges included in Schedule RC-C, part I, item 6.a., column A    C391    0    M.6
(1)   Report fixed rate loans and leases by remaining maturity and floating rate loans by next repricing date.
(2)   Sum of Memorandum items 2.a.(1) through 2.a.(6) plus total nonaccrual closed-end loans secured by first liens on 1-4 family residential properties in domestic offices included in Schedule RC-N, item 1.c.(2)(a), column C must equal total closed-end loans secured by first liens on 1-4 family residential properties from . Schedule RC-C, part I, item 1.c.(2)(a), column B
(3)   Sum of Memorandum items 2.b.(1) through 2.b.(6) plus total nonaccrual loans and leases from Schedule RC-N, sum of items 1 through 8, column C, minus nonaccrual closed-end loans secured by first liens on 1-4 family residential properties in domestic offices included in Schedule RC-N, item 1.c.(2)(a), column C, must equal total loans and leases from Schedule RC-C, Part I, sum of items 1 through 10, column A, minus total closed-end loans secured by first liens on 1-4 family residential properties in domestic offices from Schedule RC-C, part I, item 1.c.(2)(a), column B.
(4)   Exclude loans secured by real estate that are included in Schedule RC-C, part I, item 1, column A.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-7a

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    18a

 

Schedule RC-C—Continued

 

Part II. Loans to Small Businesses and Small Farms

 

Schedule RC-C, Part II is to be reported only with the June Report of Condition.

 

Report the number and amount currently outstanding as of June 30 of business loans with “original amounts” of $1,000,000 or less and farm loans with “original amounts” of $500,000 or less. The following guidelines should be used to determine the “original amount” of a loan: (1) For loans drawn down under lines of credit or loan commitments, the “original amount” of the loan is the size of the line of credit or loan commitment when the line of credit or loan commitment was most recently approved, extended, or renewed prior to the report date. However, if the amount currently outstanding as of the report date exceeds this size, the “original amount” is the amount currently outstanding on the report date. (2) For loan participations and syndications, the “original amount” of the loan participation or syndication is the entire amount of credit originated by the lead lender. (3) For all other loans, the “original amount” is the total amount of the loan at origination or the amount currently outstanding as of the report date, whichever is larger.

 

Loans to Small Businesses

 

1.    Indicate in the appropriate box at the right whether all or substantially all of the dollar volume of your bank’s
“Loans secured by nonfarm nonresidential properties” in domestic offices reported in Schedule RC-C, part I,
item 1.e, column B, and all or substantially all of the dollar volume of your bank’s “Commercial and industrial
loans to U.S. addressees” in domestic offices reported in Schedule RC-C, part I, item 4.a, column B, have
original amounts of $100,000 or less (If your bank has no loans outstanding in BOTH of these two loan
categories, place an “X” in the box marked “NO.”)		    RCON
    YES / NO
     
          6999    NO    1

 

If YES, complete items 2.a and 2.b below, skip items 3 and 4, and go to item 5.

If NO and your bank has loans outstanding in either loan category, skip items 2.a and 2.b, complete items 3 and 4 below, and go to item 5. If NO and your bank has no loans outstanding in both loan categories, skip items 2 through 4, and go to item 5.

 

                         RCON
    Number of
Loans
     
2.    Report the total number of loans currently outstanding for each of the following Schedule RC-C,
part I, loan categories:		               
     a.    “Loans secured by nonfarm nonresidential properties” in domestic offices reported in Schedule RC-C, part I, item 1.e, column B (Note: Item 1.e, column B, divided by the number of loans should NOT exceed $100,000.)    5562    N/A    2.a
     b.    “Commercial and industrial loans to U.S. addressees” in domestic offices reported in Schedule RC-C, part I, item 4.a, column B (Note: Item 4.a, column B, divided by the number of loans should NOT exceed $100,000.)    5563    N/A    2.b
    

(Column A)

Number of

Loans

   

(Column B)

Amount

Currently

Outstanding

     

Dollar Amounts in Thousands

    RCON
         RCON
    Bil | Mil | Thou
     
3.    Number and amount currently outstanding of “Loans secured by nonfarm
nonresidential properties” in domestic offices reported in Schedule RC-C, part I,
item 1.e, column B (sum of items 3.a through 3.c must be less than or equal to
Schedule RC-C, part I, item 1.e, column B):		                         
     a.    With original amounts of $100,000 or less    5564    4,852    5565    230,784    3.a
     b.    With original amounts of more than $100,000 through $250,000    5566    5,700    5567    805,959    3.b
     c.    With original amounts of more than $250,000 through $1,000,000    5568    6,165    5569    2,644,449    3.c
4.    Number and amount currently outstanding of “Commercial and industrial loans
to U.S addressees” in domestic offices reported in Schedule RC-C, part I, item
4.a, column B (sum of items 4.a through 4.c must be less than or equal to
Schedule RC-C, part I, item 4.a, column B):		                         
     a.    With original amounts of $ 100,000 or less    5570    40,057    5571    916,784    4.a
     b.    With original amounts of more than $100,000 through $250,000    5572    5,232    5573    586,786    4.b
     c.    With original amounts of more than $250,000 through $1,000,000    5574    4,161    5575    1,383,783    4.c

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-7b

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    18b

 

Schedule RC-C—Continued

 

Part II. Continued

 

Agricultural Loans to Small Farms

 

          RCON
    YES / NO
     

5.

    Indicate in the appropriate box at the right whether all or substantially all of the dollar volume of your bank’s “Loans secured by farmland (including farm residential and other improvements)” in domestic offices reported in Schedule RC-C, part I, item 1.b, column B, and all or substantially all of the dollar volume of your bank’s “Loans to finance agricultural production and other loans to farmers” in domestic offices reported in Schedule RC-C, part I, item 3, column B, have original amounts of $100,000 or less (If your bank has no loans outstanding in BOTH of these two loan categories, place an “X” in the box marked “NO.”)    6860    NO    5

 

If YES, complete items 6.a and 6.b below, and do not complete items 7 and 8. If NO, and your bank has loans outstanding in either loan category, skip items 6.a and 6.b and complete items 7 and 8 below. If NO and your bank has no loans outstanding in both loan categories, do not complete items 6 through 8.

 

              

Number of

Loans

     
               RCON
          

6.

    Report the total number of loans currently outstanding for each of the following Schedule RC-C, part I, loan categories:               
     a.    “Loans secured by farmland (including farm residential and other improvements)” in domestic offices reported in Schedule RC-C, part I, item 1.b, column B (Note: Item 1.b, column B, divided by the number of loans should NOT exceed $100,000.)   

5576

    N/A    6.a
     b.    “Loans to finance agricultural production and other loans to farmers” in domestic offices reported in Schedule RC-C, part I, item 3, column B (Note: Item 3, column B, divided by the number of loans should NOT exceed $100,000.)    5577    N/A    6.b

 

 

          (Column A)
Number of
Loans
   

(Column B)

Amount

Currently

Outstanding

     
    

Dollar Amounts in Thousands

    RCON
   
   RCON
    Bil | Mil | Thou
   

7.

    Number and amount currently outstanding of “Loans secured by farmland (including farm residential and other improvements)” in domestic offices reported in Schedule RC-C, part I, item 1.b, column B (sum of items 7.a through 7.c must be less than or equal to Schedule RC-C, part I, item 1.b, column B):                         
     a.    With original amounts of $100,000 or less    5578    248    5579    9,621    7.a
     b.    With original amounts of more than $100,000 through $250,000    5580    177    5581    24,742    7.b
     c.    With original amounts of more than $250,000 through $500,000    5582    127    5583    37,590    7.c

8.

    Number and amount currently outstanding of “Loans to finance agricultural production and other loans to farmers” in domestic offices reported in Schedule RC-C, part I, item 3, column B, (sum of items 8.a through 8.c must be less than or equal to Schedule RC-C, part I, item 3 column B):                         
     a.    With original amounts of $100,000 or less    5584    603    5585    10,266    8.a
     b.    With original amounts of more than $100,000 through $250,000    5586    80    5587    8,524    8.b
     c.    With original amounts of more than $250,000 through $500,000    5588    52    5589    8,073    8.c

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-8

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    19

 

Schedule RC-D—Trading Assets and Liabilities

 

Schedule RC-D is to be completed by banks that reported average trading assets (Schedule RC-K, item 7) of $2 million or more for any quarter of the preceding year.

 

Dollar Amounts in Thousands

    RCON
    Bil| Mil| Thou
     

ASSETS

               

1.

    U.S. Treasury securities in domestic offices    3531    46,462    1

2.

    U.S. Government agency obligations in domestic offices (exclude mortgage - backed securities)    3532    0    2

3.

    Securities issued by states and political subdivisions in the U.S. in domestic offices    3533    0    3

4.

    Mortgage-backed securities (MBS) in domestic offices:               
     a. Pass-through securities issued or guaranteed by FNMA, FHLMC, or GNMA    3534    0    4.a
     b.    Other mortgage-backed securities issued or guaranteed by FNMA, FHLMC, or GNMA (include CMOs, REMICs, and stripped MBS)    3535    0    4.b
     c.    All other mortgage-backed securities    3536    0    4.c

5.

    Other debt securities in domestic offices    3537    0    5

6.- 8.

    Not applicable               

9.

    Other trading assets in domestic offices    3541    36,054    9
          RCFN
          

10.

    Trading assets in foreign offices    3542    0    10
          RCON
          

11.

    Revaluation gains on derivative contracts:               
     a.    In domestic offices    3543    1,390,234    11.a
               RCFN
          
     b.    In foreign offices    3543    0    11.b
               RCFD
          

12.

    Total trading assets (sum of items 1 through 11) (must equal Schedule RC, item 5)    3545    1,472,750    12
               RCFD
    Bil | Mil | Thou
     

LIABILITIES

               

13.

    Liability for short positions    3546    143    13

14.

    Revaluation losses on derivative contracts    3547    1,178,978    14

15.

    Total trading liabilities (sum of items 13 and 14) (must equal Schedule RC, item 15)    3548    1,179,121    15

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-9

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    20

 

Schedule RC-E—Deposit Liabilities

 

Part I. Deposits in Domestic Offices

 

          Transaction Accounts
    Nontransaction
Accounts
     
         

(Column A)

Total

transaction

accounts

(including total
demand deposits)

   

(Column B)

Memo: Total

demand

deposits

(included in

column A)

   

(Column C)

Total

nontransaction

accounts

(including

MMDAs)

     

Dollar Amounts in Thousands

    RCON
    Bil | Mil | Thou
    RCON
    Bil | Mil | Thou
    RCON
    Bil | Mil | Thou
     

Deposits of:

                                   

1.

    Individuals, partnerships and corporations (include all certified and official checks)    B549    8,576,981              B550    62,718,937    1

2.

    U.S. Government    2202    5,389              2520    0    2

3.

    States and political subdivisions in the U.S.    2203    2,068,415              2530    456,659    3

4.

    Commercial banks and other depository institutions in the U.S.    B551    618,240              B552    0    4

5.

    Banks in foreign countries    2213    14,641              2236    0    5

6.

    Foreign governments, and official institutions (including foreign central banks)    2216    0              2377    0    6

7.

    Total (sum of items 1 through 6) (sum of columns A and C must equal Schedule RC, item 13.a)    2215    11,283,666    2210    10,248,343    2385    63,175,596    7

 

 

Memoranda

   

Dollar Amounts in Thousands

    RCON
    Bil | Mil | Thou
     

1.

    Selected components of total deposits (i.e., sum of item 7, columns A and C):               
     a.    Total Individual Retirement Accounts (IRAs) and Keogh Plan accounts    6835    2,089,683    M.1.a
     b.    Total brokered deposits    2365    3,207,876    M.1.b
     c.    Fully insured brokered deposits (included in Memorandum item 1.b above):               
          (1)    Issued in denominations of less than $100,000    2343    5,725    M.1.c.1
          (2)    Issued either in denominations of $100,000 or in denominations greater than $100,000 and participated out by the broker in shares of $100,000 or less    2344    103,255    M.1.c.2
     d.    Maturity data for brokered deposits:               
          (1)    Brokered deposits issued in denominations of less than $100,000 with a remaining maturity of one year or less (included in Memorandum item 1.c.(1) above)    A243    3,944    M.1.d.1
          (2)    Brokered deposits issued in denominations of $100,000 or more with a remaining maturity of one year or less (included in Memorandum item 1.b above)    A244    3,199,651    M.1.d.2
     e.    Preferred deposits (uninsured deposits of states and political subdivisions in the U.S. reported in item 3 above which are secured or collaterlized as required under state law) (to be completed for the December report only)    5590    N/A    M.1.e

2.

    Components of total nontransaction accounts (sum of Memorandum items 2.a through 2.c must equal item 7, column C, above):               
     a.    Savings deposits:               
          (1)    Money market deposit accounts (MMDAs)    6810    42,446,588    M.2.a.1
          (2)    Other savings deposits (excludes MMDAs)    0352    6,284,083    M.2.a.2
     b.    Total time deposits of less than $100,000    6648    7,785,732    M.2.b
     c.    Total time deposits of $100,000 or more    2604    6,659,193    M.2.c

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-10

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    21

 

Schedule RC-E—Continued

 

Part I. Continued

 

Memoranda (continued)

  

Dollar Amounts in Thousands

    RCON
    Bil | Mil | Thou
     
3.   Maturity and repricing data for time deposits of less than $100,000 :               
    a.   Time deposits of less than $100,000 with a remaining maturity or next repricing date of (1,2)               
        (1)   Three months or less    A579    516,821    M.3.a.1
        (2)   Over three months through 12 months    A580    4,053,483    M.3.a.2
        (3)   Over one year through three years    A581    2,571,295    M.3.a.3
        (4)   Over three years    A582    644,132    M.3.a.4
    b.   Time deposits of less than $100,000 with a REMAINING MATURITY of one year or less (included in Memorandum items 3.a.(1) and 3.a.(2) above) (3)    A241    4,444,139    M.3.b
4.   Maturity and repricing data for time deposits of $100,000 or more:               
    a.   Time deposits of $100,000 or more with a remaining maturity or next repricing date of (1,4)               
        (1)   Three months or less    A584    3,386,914    M.4.a.1
        (2)   Over three months through 12 months    A585    1,824,495    M.4.a.2
        (3)   Over one year through three years    A586    1,014,917    M.4.a.3
        (4)   Over three years    A587    432,867    M.4.a.4
    b.   Time deposits of $100,000 or more with a REMAINING MATURITY of one year or less (included in Memorandum items 4.a.(1) and 4.a.(2) above) (3)    A242    5,211,409    M.4.b
(1)   Report fixed rate time deposits by remaining maturity and floating rate time deposits by next repricing date.
(2)   Sum of Memorandum items 3.a.(1) through 3.a.(4) must equal Schedule RC-E Memorandum item 2.b.
(3)   Report both fixed and floating rate time deposits by remaining maturity. Exclude floating rate time deposits with a next repricing date of one year or less that have a remaining maturity of over one year.
(4)   Sum of Memorandum items 4.a.(1) through 4.a.(4) must equal Schedule RC-E, Memorandum item 2.c.

 

Part II. Deposits in Foreign Offices (including Edge and Agreement subsidiaries and IBFs)

 

Dollar Amounts in Thousands

    RCFN
    Bil | Mil | Thou
     
Deposits of:               
1.   Individuals, partnerships, and corporations (include all certified and official checks)    B553    2,817,089    1
2.   U.S. banks (including IBFs and foreign branches of U.S. banks) and other U.S. depository institutions    B554    0    2
3.   Foreign banks (including U.S. branches and agencies of foreign banks, including their IBFs)    2625    117,875    3
4.   Foreign governments and official institutions (including foreign central banks)    2650    0    4
5.   U.S. Government and states and political subdivisions in the U.S.    B555    0    5
6.   Total (sum of items 1 through 5 ) (must equal Schedule RC, item 13.b)    2200    2,934,964    6

 

Memorandum

  

Dollar Amounts in Thousands

    RCFN
    Bil | Mil | Thou
     
1.   Time deposits with a remaining maturity of one year or less (included in Part II, item 6 above)    A245    2,934,964    M.1

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-11

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    22

 

Schedule RC-F—Other Assets

 

Dollar Amounts in Thousands
    RCFD
    Bil | Mil | Thou
     
1.   Accrued interest receivable (1)    B556    370,642    1
2.   Net deferred tax assets (2)    2148    0    2
3.   Interest-only strips receivable (not in the form of a security) (3) on:               
    a.   Mortgage loans    A519    0    3.a
    b.   Other financial assets    A520    0    3.b
4.   Equity securities that DO NOT have readily determinable fair values (4)    1752    390,998    4
5.   All other assets (itemize and describe amounts greater than $25,000 that exceed 25% of this item)    2168    1,968,410    5
            TEXT                         
    a.       Prepaid expenses    2166    0              5.a
    b.       Cash surrender value of life insurance    C009    0              5.b
    c.       Repossessed personal property (including vehicles)    1578    0              5.c
    d.       Deriviatives with a positive fair value held for purposes other than trading    C010    0              5.d
    e.       Retained interests in accrued interest receivable related to securitized credit cards    C436    0              5.e
    f.   3549   A/R Other    3549    932,150              5.f
    g.   3550        3550    N/A              5.g
    h.   3551        3551    N/A              5.h
6.   Total (sum of items 1 through 5) (must equal Schedule RC, item 11)              2160    2,730,050    6

 

Schedule RC-G—Other Liabilities

 

Dollar Amounts in Thousands
    RCON
    Bil | Mil | Thou
     
1.   a.   Interest accrued and unpaid on deposits in domestic offices(5)    3645    50,896    1.a
    b.   Other expenses accrued and unpaid (includes accrued income taxes payable)               
             RCFD
          
             3646    411,138    1.b
2.   Net deferred tax liabilities (2)    3049    1,062,810    2
3.   Allowance for credit losses on off-balance sheet credit exposures    B557    0    3
4.   All other liabilities (itemize and describe amounts greater than $25,000 that exceed 25% of this item)    2938    1,252,163    4
            TEXT                         
    a.       Accounts payable    3066    377,179              4.a
    b.       Deferred compensation liabilities    C011    0              4.b
    c.       Dividends declared but not yet payable    2932    0              4.c
    d.       Derivatives with a negative fair value held for purposes other than trading    C012    0              4.d
    e.   3552        3552    N/A              4.e
    f.   3553        3553    N/A              4.f
    g.   3554        3554    N/A              4.g
5.   Total (sum of items 1 through 4) (must equal Schedule RC, item 20)    2930    2,777,007    5
(1)   Include accrued interest receivable on loans, leases, debt securities, and other interest-bearing assets.
(2)   See discussion of deferred income taxes in Glossary entry on “income taxes.”
(3)   Report interest-only strips receivable in the form of a security as available-for sale securities in Schedule RC, item 2.b, or as trading assets in Schedule RC, item 5, as appropriate.
(4)   Include Federal Reserve stock, Federal Home Loan Bank stock, and bankers’ bank stock
(5)   For savings banks, includes “dividends” accrued and unpaid on deposits.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-12

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    23

 

Schedule RC-H—Selected Balance Sheet Items for Domestic Offices

 

     Domestic Offices
     

Dollar Amounts in Thousands

    RCON
    Bil | Mil | Thou
     
1.    Customers’ liability to this bank on acceptances outstanding    2155    84,980    1
2.    Bank’s liability on acceptances executed and outstanding    2920    84,980    2
3.    Securities purchased under agreements to resell    B989    3,771,321    3
4.    Securities sold under agreements to repurchase    B995    8,422,227    4
5.    Other borrowed money    3190    7,252,577    5
     EITHER               
6.    Net due from own foreign offices, Edge and Agreement subsidiaries, and IBFs    2163    N/A    6
     OR               
7.    Net due to own foreign offices, Edge and Agreement subsidiaries, and IBFs    2941    3,216,056    7
8.    Total assets (excludes net due from foreign offices, Edge and Agreement subsidiaries, and IBFs)    2192    118,745,162    8
9.    Total liabilities (excludes net due to foreign offices, Edge and Agreement subsidiaries, and IBFs)    3129    105,023,062    9
In items 10-17 report the amortized (historical) cost of both held-to-maturity and available-for-
sale securities in domestic offices.		               
     RCON
    Bil | Mil | Thou
     
10.    U.S. Treasury securities    1039    58,488    10
11.    U.S. Government agency obligations (exclude mortgage-backed securities)    1041    2,813,927    11
12.    Securities issued by states and political subdivisions in the U.S.    1042    345,171    12
13.    Mortgage-backed securities (MBS):               
     a.    Pass-through securities:               
          (1)    Issued or guaranteed by FNMA, FHLMC, or GNMA    1043    2,632,860    13.a.1
          (2)    Other pass-through securities    1044    348,712    13.a.2
     b.    Other mortgage-backed securities (include CMOs, REMICs, and stripped MBS):               
          (1)    Issued or guaranteed by FNMA, FHLMC, or GNMA    1209    5,024,580    13.b.1
          (2)    All other mortgage-backed securities    1280    514,575    13.b.2
14.    Other domestic debt securities (include domestic asset-backed securities)    1281    6,000,232    14
15.    Foreign debt securities (include foreign asset-backed securities)    1282    3,300    15
16.    Investments in mutual funds and other equity securities with readily determinable fair values    A510    699,848    16
17.    Total amortized (historical) cost of both held-to-maturity and available-for-sale secutities (sum of items 10 through 16)    1374    18,441,693    17
18.    Equity securities that do not have readily determinable fair values    1752    390,998    18
Schedule RC-I—Selected Assets and Liabilities of IBFs

 

To be completed only by banks with IBFs and other “foreign” offices.

Dollar Amounts in Thousands

    RCFN
    Bil | Mil | Thou
     
1.    Total IBF assets of the consolidated bank (component of Schedule RC, item 12)    2133    0    1
2.    Total IBF liabilities (component of Schedule RC, item 21)    2898    67,052    2

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-13

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    24

 

Schedule RC-K—Quarterly Averages (1)

 

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     
ASSETS               
1.    Interest-bearing balances due from depository institutions    3381    18,389    1
2.    U.S. Treasury securities and U.S. Government agency obligations (2) (excluding mortgage-backed securities)    B558    3,074,396    2
3.    Mortgage-backed securities (2)    B559    9,274,316    3
4.    All other securities (2, 3)(includes securities issued by states and political subdivisions in the U.S.)    B560    6,972,953    4
5.    Federal funds sold and securities purchased under agreements to resell    3365    4,046,699    5
6.    Loans:               
     a.    Loans in domestic offices:               
               RCON
          
          (1)    Total loans    3360    79,474,286    6.a.1
          (2)    Loans secured by real estate    3385    41,700,726    6.a.2
          (3)    Loans to finance agricultural production and other loans to farmers    3386    95,232    6.a.3
          (4)    Commercial and industrial loans    3387    23,038,817    6.a.4
          (5)    Loans to individuals for household, family, and other personal expenditures:               
               (a)    Credit cards    B561    0    6.a.5.a
               (b)    Other (includes single payment, installment, all student loans, and revolving credit plans other than credit cards)    B562    12,477,594    6.a.5.b
                         RCFN
          
     b.    Total loans in foreign offices, Edge and Agreement subsidiaries, and IBFs    3360    0    6.b
                         RCFD          
7.    Trading assets    3401    1,265,017    7
8.    Lease financing receivables (net of unearned income)    3484    3,152,209    8
9.    Total assets(4)    3368    114,789,856    9
LIABILITIES               
     RCON
          
10.    Interest-bearing transaction accounts in domestic (NOW accounts, ATS accounts, and telephone and preauthorized transfer accounts) (exclude demand deposits)    3485    963,376    10
11.    Nontransaction accounts in domestic offices:               
     a.    Savings deposits (includes MMDAs)    B563    43,188,580    11.a
     b.    Time deposits of $100,000 or more    A514    6,968,943    11.b
     c.    Time deposits of less than $100,000    A529    7,823,562    11.c
          RCFN
          
12.    Interest-bearing deposits in foreign offices, Edge and Agreement subsidiaries, and IBFs    3404    7,137,548    12
          RCFD
          
13.    Federal funds purchased and securities sold under agreements to repurchase    3353    14,180,126    13
14.    Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)    3355    6,530,392    14
(1)   For all items, banks have the option of reporting either (1) an average of DAILY figures for the quarter, or (2) an average of WEEKLY figures (i.e., the Wednesday of each week of the quarter).
(2)   Quarterly averages for all debt securities should be based on amortized cost.
(3)   Quarterly averages for all equity securities should be based on historical cost.
(4)   The quarterly averages for total assets should reflect all debt securities (not held for trading) at amortized cost, equity securities with readily determinable fair values at the lower of cost or fair value, and equity securities without readily determinable fair values at historical cost.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-14

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    25

 

Schedule RC-L—Derivatives and Off-Balance Sheet Items

 

Please read carefully the instructions for the preparation of Schedule RC-L. Some of the amounts reported in Schedule RC-L are regarded as volume indicators and not necessarily as measures of risk.

 

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     
1.    Unused commitments:               
     a.    Revolving, open-end lines secured by 1-4 family residential properties, e.g., home equity lines              3814    6,238,052    1.a
     b.    Credit card lines              3815    0    1.b
     c.    Commercial real estate, construction, and land development:                         
          (1)    Commitments to fund loans secured by real estate              3816    2,897,088    1.c.1
          (2)    Commitments to fund loans not secured by real estate              6550    1,052,786    1.c.2
     d.    Securities underwriting              3817    0    1.d
     e.    Other unused commitments              3818    45,638,141    1.e
2.    Financial standby letters of credit and foreign office guarantees              3819    10,638,430    2
     a.    Amount of financial standby letters of credit conveyed to others    3820    342,199              2.a
3.    Performance standby letters of credit and foreign office guarantees              3821    356,858    3.
     a.    Amount of performance standby letters of credit conveyed to others    3822    5,671              3.a
4.    Commercial and similar letters of credit              3411    129,724    4
5.    Participations in acceptances (as described in the instructions) conveyed to others by the reporting bank              3428    1,974    5
6.    Securities lent (including customers’ securities lent where the customer is indemnified against loss by the reporting bank)              3433    0    6
7.    Credit derivatives :                         
     a.    Notional amount of credit derivatives on which the reporting bank is the guarantor              A534    225,000    7.a
          (1)    Gross positive fair value              C219    1,542    7.a.1
          (2)    Gross negative fair value              C220    173    7.a.2
     b.    Notional amount of credit derivatives on which the reporting bank is the beneficiary              A535    126,000    7.b
          (1)    Gross positive fair value              C221    86    7.b.1
          (2)    Gross negative fair value              C222    887    7.b.2
8.    Spot foreign exchange contracts              8765    482,422    8
9.    All other off-balance sheet liabilities (exclude derivatives) (itemize and describe each component of this item over 25% of Schedule RC, item 28, “Total equity capital”)              3430    0    9
               TEXT                         
     a.         Securities borrowed    3432    0              9.a
     b.         Commitments to purchase when-issued securities    3434    0              9.b
     c.    3555    3555    N/A              9.c
     d.    3556    3556    N/A              9.d
     e.    3557    3557    N/A              9.e
10.    All other off-balance sheet assets (exclude derivatives)(itemize and describe each component of this item over 25% Schedule RC item 28., “Total equity capital”)              5591    0    10
               TEXT                         
     a.         Commitments to sell when-issued securities    3435    0              10.a
     b.    5592    5592    N/A              10.b
     c.    5593    5593    N/A              10.c
     d.    5594    5594    N/A              10.d
     e.    5595    5595    N/A              10.e
          RCFD
    Tril | Bil | Mil | Thou
     
11.    Year-to-date merchant credit card sales volume:                         
     a.    Sales for which the reporting bank is the acquiring bank              C223    0    11.a
     b.    Sales for which the reporting bank is the agent bank with risk              C224    0    11.b

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-15

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    26

 

Schedule RC-L—Continued

 

Dollar Amounts in Thousands

   (Column A)
Interest
Rate
Contracts
   (Column B)
Foreign
Exchange
Contracts
   (Column C)
Equity
Derivative
Contracts
   (Column D)
Commodity
and Other
Contracts
    

Derivatives Position Indicators

   Tril | Bil | Mil | Thou
   Tril | Bil | Mil | Thou
   Tril | Bil | Mil | Thou
   Tril | Bil | Mil | Thou
    
12.    Gross amounts (e.g., notional amounts) (for each column, sum of items 12.a through 12.e must equal sum of items 13 and 14):                    
    

a.

   

Futures contracts

  

RCFD 8693

5,996,000

  

RCFD 8694

0

  

RCFD 8695

0

  

RCFD 8696

0

   12.a
     b.    Forward contracts  

RCFD 8697

11,605,879

  

RCFD 8698

3,504,009

  

RCFD 8699

0

  

RCFD 8700

0

   12.b
     c.    Exchange-traded option contracts:                    
          (1)    Written options  

RCFD 8701

0

  

RCFD 8702

0

  

RCFD 8703

0

  

RCFD 8704

0

   12.c.1
          (2)    Purchased options  

RCFD 8705

500,000

  

RCFD 8706

0

  

RCFD 8707

0

  

RCFD 8708

0

   12.c.2
     d.    Over-the-counter option contracts:                    
          (1)    Written options  

RCFD 8709

13,601,984

  

RCFD 8710

267,198

  

RCFD 8711

1,008,359

  

RCFD 8712

0

   12.d.1
          (2)    Purchased options  

RCFD 8713

2,959,640

  

RCFD 8714

270,139

  

RCFD 8715

1,007,774

  

RCFD 8716

0

   12.d.2
     e.    Swaps  

RCFD 3450

42,228,593

  

RCFD 3826

344,572

  

RCFD 8719

0

  

RCFD 8720

2,400

   12.e
13.    Total gross notional amount of derivative contracts held for trading  

RCFD A126

50,116,101

  

RCFD A127

4,359,587

  

RCFD 8723

2,016,133

  

RCFD 8724

2,400

   13
14.    Total gross notional amount of derivative contracts held for purposes other than trading  

RCFD 8725

26,775,995

  

RCFD 8726

26,331

  

RCFD 8727

0

  

RCFD 8728

0

   14
     a.    Interest rate swaps where the bank has agreed to pay a fixed rate  

RCFD A589

1,665,288

               14.a
15.    Gross fair values of derivative contracts:                    
     a.    Contracts held for trading:                    
          (1)    Gross positive fair value  

RCFD 8733

1,536,581

  

RCFD 8734

125,676

  

RCFD 8735

417,016

  

RCFD 8736

264

   15.a.1
          (2)    Gross negative fair value  

RCFD 8737

1,409,918

  

RCFD 8738

118,231

  

RCFD 8739

415,223

  

RCFD 8740

255

   15.a.2
     b.    Contracts held for purposes other than trading:                    
          (1)    Gross positive fair value  

RCFD 8741

199,860

  

RCFD 8742

36

  

RCFD 8743

0

  

RCFD 8744

0

   15.b.1
          (2)    Gross negative fair value  

RCFD 8745

156,656

  

RCFD 8746

735

  

RCFD 8747

0

  

RCFD 8748

0

   15.b.2

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-16

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    27

 

Schedule RC-M—Memoranda

 

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     
1.    Extensions of credit by the reporting bank to its executive officers, directors, principal shareholders, and their related interests as of the report date:               
     a.    Aggregate amount of all extensions of credit to all executive officers, directors, principal shareholders, and their related interests    6164    753,667    1.a
     b.    Number of executive officers, directors, and principal shareholders to whom the amount of all extensions of credit by the reporting bank (including extensions of credit to related interests) equals or exceeds the lesser of $500,000 or 5 percent of total capital as defined for this purpose in agency regulations                    
                         Number
               
          6165    8              1.b
2.    Intangible assets other than goodwill:                    
     a.    Mortgage servicing Assets         3164    402,221    2.a
          (1)    Estimated fair value of mortgage servicing assets    A590    418,042              2.a.1
     b.    Purchased credit card relationships and nonmortgage servicing assets    B026    0    2.b
     c.    All other identifiable intangible assets    5507    205,769    2.c
     d.    Total (sum of items 2.a, 2.b, and 2.c) (must equal Schedule RC, item 10.b)    0426    607,990    2.d
3.    Other real estate owned:               
     a.    Direct and indirect investments in real estate ventures    5372    0    3.a
     b.    All other real estate owned:               
                              RCON
          
          (1)    Construction, land development, and other land in domestic offices    5508    7,239    3.b.1
          (2)    Farmland in domestic offices    5509    0    3.b.2
          (3)    1-4 family residential properties in domestic offices    5510    16,290    3.b.3
          (4)    Multifamily (5 or more) residential properties in domestic offices    5511    54    3.b.4
          (5)    Nonfarm nonresidential properties in domestic offices    5512    6,243    3.b.5
          RCFN
          
          (6)    In foreign offices    5513    0    3.b.6
          RCFD
          
     c.    Total (sum of items 3.a and 3.b) (must equal Schedule RC, item 7)    2150    29,826    3.c
4.    Investments in unconsolidated subsidiaries and associated companies:               
     a.    Direct and indirect investments in real estate ventures    5374    0    4.a
     b.    All other investments in unconsolidated subsidiaries and associated companies    5375    0    4.b
     c.    Total (sum of items 4.a and 4.b) (must equal Schedule RC, item 8)    2130    0    4.c
5.    Other borrowed money:               
     a.    Federal Home Loan Bank advances:               
          (1)    With a remaining maturity of one year or less (1)    2651    4,035    5.a.1
          (2)    With a remaining maturity of more than one year through three years    B565    428,329    5.a.2
          (3)    With a remaining maturity of more than three years    B566    5,718,787    5.a.3
     b.    Other borrowings:               
          (1)    With a remaining maturity of one year or less    B571    1,050,117    5.b.1
          (2)    With a remaining maturity of more than one year through three years    B567    12,380    5.b.2
          (3)    With a remaining maturity of more than three years    B568    38,929    5.b.3
     c.    Total (sum of items 5.a.(1) through 5.b.(3)) (must equal Schedule RC, item 16)    3190    7,252,577    5.c
               YES /NO
     
6.    Does the reporting bank sell private label or third party mutual funds and annuities?    B569    NO    6
          RCFD
    Bil | Mil | Thou
     
7.    Assets under the reporting bank’s management in proprietary mutual funds and annuities    B570    0    7
8.    Primary Internet Web site address of the bank (home page), if any:               
     (example: http://www.examplebank.com)               
TEXT    4087    http://WWW.SUNTRUST.COM         8     
               YES / NO
     
9.    Do any of the bank’s Internet Web sites have transactional capability, i.e., allow the bank’s customers to execute transactions on their accounts through the Web site?    4088    YES    9
(1)   Includes overnight Federal Home Loan Bank advances.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-17

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

FDIC Certificate Number - 00867

    28

 

Schedule RC-N—Past Due and Nonaccrual Loans, Leases, and Other Assets

 

     (Column A)
Past due
30 through 89
days and still
accruing
   (Column B)
Past due 90
days or more
and still
accruing
   (Column C)
Nonaccrual
    

Dollar Amounts in Thousands

    RCON
    Bil | Mil | Thou
   RCON
   Bil | Mil | Thou
   RCON
   Bil | Mil | Thou
    
1.    Loans secured by real estate:                              
     a.    Construction, land development, and other land loans in domestic offices    2759    45,150   2769   5,297   3492   8,354   1.a
     b.    Secured by farmland in domestic offices    3493    1,892   3494   58   3495   807   1.b
     c.    Secured by 1-4 family residential properties in domestic offices:                              
          (1)    Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit    5398    20,262   5399   3,498   5400   4,036   1.c.1
          (2)    Closed-end loans secured by 1-4 family residential properties:                              
               (a)    Secured by first liens    C236    139,294   C237   21,793   C229   67,936   1.c.2.a
               (b)    Secured by junior liens    C238    15,718   C239   361   C230   6,755   1.c.2.b
     d.    Secured by multifamily (5 or more) residential properties in domestic offices    3499    2,277   3500   901   3501   750   1.d
     e.    Secured by nonfarm nonresidential properties properties in domestic offices    3502    50,351   3503   2,844   3504   45,964   1.e
     RCFN        RCFN       RCFN        
     f.    In foreign offices    B572    0   B573   0   B574   0   1.f
2.    Loans to depository institutions and acceptances of other banks:                              
     a.    To U.S. banks and other U.S. depository institutions    RCFD        RCFD       RCFD        
     5377    0   5378   0   5379   0   2.a
     b.    To foreign banks    5380    0   5381   0   5382   0   2.b
3.    Loans to finance agricultural production and other loans to farmers    1594    683   1597   853   1583   4,052   3
4.    Commercial and industrial loans:                              
     a.    To U.S. addressees (domicile)    1251    158,628   1252   32,357   1253   300,904   4.a
     b.    To non-U.S. addressees (domicile)    1254    300   1255   0   1256   73   4.b
5.    Loans to individuals for household, family, and other personal expenditures:                              
     a.    Credit cards    B575    0   B576   0   B577   0   5.a
     b.    Other (includes single payment, installment, all student loans, and revolving credit plans other than credit cards)    B578    235,464   B579   87,018   B580   40,702   5.b
6.    Loans to foreign governments and official institutions    5389    0   5390   0   5391   0   6
7.    All other loans    5459    8,162   5460   183   5461   1,165   7
8.    Lease financing receivables:                              
     a.    Of U.S. addressees (domicile)    1257    0   1258   0   1259   0   8.a
     b.    Of non-U.S. addressees (domicile)    1271    0   1272   0   1791   0   8.b
9.    Debt securities and other assets (exclude other real estate owned and other repossessed assets)    3505    0   3506   0   3507   0   9

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-18

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

FDIC Certificate Number - 00867

    29

 

Schedule RC-N—Continued

 

Amounts reported in Schedule RC-N, items 1 through 8, above include guaranteed and unguaranteed portions of past due and nonaccrual loans and leases. Report in item 10 below certain guaranteed loans and leases that have already been included in the amounts reported in items 1 through 8.

 

    

(Column A)

Past due

30 through 89

days and still

accruing

   

(Column B)

Past due 90

days or more

and still

accruing

   

(Column C)

Nonaccrual

     

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
     

10.

    Loans and leases reported in items 1
through 8 above which are wholly or
partially guaranteed by the U.S.
Government		    5612    82,432    5613    85,872    5614    3,907    10
     a.    Guaranteed portion of loans and leases included in item 10 above    5615    61,394    5616    64,905    5617    3,126    10.a
    

(Column A)

Past due

30 through 89

days and still

accruing

   

(Column B)

Past due 90

days or more

and still

accruing

   

(Column C)

Nonaccrual

     

Memoranda

   

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
     

1.

    Restructured loans and leases included in
Schedule RC-N, items 1 through 8, above
(and not reported in Schedule RC-C, Part I,
Memorandum item 1)		    1658    0    1659    0    1661    0    M.1

2.

    Loans to finance commercial real estate,
construction, and land development
activities (not secured by real estate)
included in Schedule RC-N, items 4 and 7,
above		    6558    8,593    6559    234    6560    8,484    M.2

3.

    Loans secured by real estate to non-U.S.
addresses (domicile) (included in Schedule
RC-N, item 1, above)		    1248    0    1249    0    1250    0    M.3

4.

    Not applicable                                   

5.

    Loans and leases held for sale (included in
Schedule RC-N, items 1 through 8, above)		    C240    0    C241    0    C226    0    M.5
    

(Column A)

Past due

30 through

89 days

   

(Column B)

Past due 90

days or more

               
          RCFD
    Bil | Mil | Thou
    RCFD
    Bil | Mil | Thou
               

6.

    Interest rate, foreign exchange rate, and
other commodity and equity contracts:		                                   
     Fair value of amounts carried as assets    3529    0    3530    0              M.6

 

Person to whom questions about the Reports of Condition and Income should be directed:

 

Deborah Barnhart, AVP

Name and Title (TEXT 8901)

Deborah.Barnhart@SunTrust.com

E-mail Address (TEXT 4086)

404-827-6622

Telephone: Area code/phone number/extension (TEXT 8902)

  

404-827-6501

FAX: Area code/phone number (TEXT 9116)

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-19

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    79

 

Schedule RC-O—Other Data for Deposit Insurance and FICO Assessments

 

Dollar Amounts in Thousands

    RCON
    Bil | Mil | Thou
     

1.

   Unposted debits (see instructions):               
    a. Actual amount of all unposted debits    0030    0    1.a
   

OR

                       
    b. Separate amount of unposted debits:               
   

(1)

   Actual amount of unposted debits to demand deposits    0031    N/A    1.b.1
   

(2)

   Actual amount of unposted debits to time and savings deposits (1)    0032    N/A    1.b.2

2.

   Unposted credits (see instructions):               
    a. Actual amount of all unposted credits    3510    0    2.a
   

OR

                       
    b. Separate amount of unposted credits:               
   

(1)

   Actual amount of unposted credits to demand deposits    3512    N/A    2.b.1
   

(2)

   Actual amount of unposted credits to time and savings deposits (1)    3514    N/A    2.b.2

3.

   Uninvested trust funds (cash) held in bank’s own trust department (not included in total deposits in domestic offices)    3520    0    3

4.

   Deposits of consolidated subsidiaries in domestic offices and in insured branches in Puerto Rico and U.S. territories and possessions ( not included in total deposits ) :               
    a. Demand deposits of consolidated subsidiaries    2211    130,690    4.a
    b. Time and savings deposits (1) of consolidated subsidiaries    2351    0    4.b
    c. Interest accrued and unpaid on deposits of consolidated subsidiaries    5514    0    4.c

5.

   Deposits in insured branches in Puerto Rico and U.S. territories and possessions:               
    a. Demand deposits in insured branches (included in Schedule RC-E, Part II)    2229    0    5.a
    b. Time and saving deposits (1) in insured branches (included in Schedule RC-E, Part II)    2383    0    5.b
    c. Interest accrued and unpaid on deposits in insured branches (included in Schedule RC-G, item 1.b)    5515    0    5.c

6.

   Reserve balances actually passed through to the Federal Reserve by the reporting bank on behalf of its respondent depository institutions that are also reflected as deposit liabilities of the reporting bank:               
    a. Amount reflected in demand deposits (included in Schedule RC-E, Part I, Item 7 column B)    2314    0    6.a
   

b. Amount reflected in time and savings deposits (1) (included in Schedule RC-E, Part I, Item 7, column A or C, but not column B)

    2315    0    6.b

7.

   Unamortized premiums and discounts on time and savings deposits: (1,2)               
    a. Unamortized premiums    5516    4,919    7.a
    b. Unamortized discounts    5517    0    7.b
8.   To be completed by banks with “ Oakar deposits”.               
   

a. Deposits purchased or acquired from other FDIC-insured institutions during the quarter (exclude deposits purchased or acquired from foreign offices other than insured branches in Puerto Rico and U.S. territories and possessions):

               
   

(1) Total deposits purchased or acquired from other FDIC-insured institutions during the quarter

    A531    428,934    8.a.1
   

(2) Amount of purchased or acquired deposits reported in item 8.a.(1) above attributable to a secondary fund (i.e., BIF members report deposits attributable to SAIF; SAIF members report deposits attributable to BIF)

    A532    249,074    8.a.2
   

b. Total deposits sold or transferred to other FDIC-insured institutions during the quarter (exclude sales or transfers by the reporting bank of deposits in foreign offices other than insured branches in Puerto Rico and U.S. territories and possessions)

    A533    0    8.b
(1)   For FDIC and FICO insurance assessment purposes, “time and savings deposits” consists of nontransaction accounts and all transaction accounts other than demand deposits.
(2)   Exclude core deposit intangibles.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-20

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    31

 

Schedule RC-O—Continued

 

Dollar Amounts in Thousands
    RCON
    Bil | Mil  | Thou
     
9.    Deposits in lifeline accounts    5596         9
10.    Benefit-responsive “Depository Institution Investment Contracts” (included in total deposits in domestic offices)    8432    0    10
11.    Adjustments to demand deposits in domestic offices and in insured branches in Puerto Rico and U.S. territories and possessions reported in Schedule RC-E for certain reciprocal demand balances :               
    

a. Amount by which demand deposits would be reduced if the reporting bank’s reciprocal demand balances with the domestic offices of U.S. banks and savings associations and insured branches in Puerto Rico and U.S. territories and possessions that were reported on a gross basis in Schedule RC-E had been reported on a net basis

    8785    0    11.a
    

b. Amount by which demand deposits would be increased if the reporting bank’s reciprocal demand balances with foreign banks and foreign offices of other U.S. banks (other than insured branches in Puerto Rico and U.S. territories and possessions) that were reported on a net basis in Schedule RC-E had been reported on a gross basis

    A181    0    11.b
    

c. Amount by which demand deposits would be reduced if cash items in process of collection were included in the calculation of the reporting bank’s net reciprocal demand balances with the domestic offices of U.S. banks and savings associations and insured branches in Puerto Rico and U.S. territories and possessions in Schedule RC-E

    A182    0    11.c
12.    Amount of assets netted against deposit liabilities in domestic offices and in insured branches in Puerto Rico and U.S. territories and possessions on the balance sheet (Schedule RC) in accordance with generally accepted accounting principles (exclude amounts related to reciprocal demand balances):               
     a. Amount of assets netted against demand deposits    A527    0    12.a
     b. Amount of assets netted against time and savings deposits    A528    0    12.b
Memoranda (to be completed each quarter except as noted)               
Dollar Amounts in Thousands
    RCON
    Bil | Mil | Thou
     
1.    Total deposits in domestic offices of the bank and in insured branches in Puerto Rico and U.S. territories and possessions (sum of Memorandum items 1.a.(1) and 1.b.(1) must equal the sum of Schedule RC, item 13.a, and Schedule RC-O, items 5.a and 5.b):               
     a. Deposit accounts of $100,000 or less (1):               
     (1)    Amount of deposit accounts of $100,0000 or less    2702    39,352,005    M.1.a 1
     (2)    Number of deposit accounts of $100,000 or less                         
                         Number
               
          (to be completed for the June report only)    3779    4,590,059              M.1.a 2
     b. Deposit accounts of more than $100,000 (1):               
     (1)    Amount of deposit accounts of more than $100,000    2710    35,107,257    M.1.b 1
                    Number
               
     (2)    Number of deposit accounts of more than $100,000    2722    103,360              M.1.b 2
2.   

Memorandum item 2 is to be completed by all banks.

Estimated amount of uninsured deposits in domestic offices of the bank and in insured branches in Puerto Rico and U.S. territories and possessions (see instructions)

    5597    22,447,253    M.2
3.    Has the reporting institution been consolidated with a parent bank or savings association in that parent bank’s or parent savings association’s Call Report or Thrift Financial Report ?               
     If so, report the legal title and FDIC Certificate Number of the parent bank or parent savings association:               
          Text    RCON
    FDIC Cert No.
     
     A545         A545    N/A    M.3
(1)   The dollar amounts used as the basis for reporting in Memoranda items 1.a and 1.b reflect the deposit insurance limits in effect on the report date.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-21

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    32

 

Schedule RC-R—Regulatory Capital

 

Dollar Amounts in Thousands    RCFD    Bil | Mil | Thou      
    

Tier 1 capital

                

1.

    Total equity capital (from Schedule RC, item 28)    3210    9,493,707     1

2.

   

LESS: Net unrealized gains (losses) on available-for-sale securities (1)

(if a gain, report as a positive value; if a loss, report as a negative value)

    8434    918,620     2

3.

    LESS: Net unrealized loss on available-for-sale EQUITY securities (1) (report loss as a positive value)    A221    0     3

4.

   

LESS: Accumulated net gains (losses) on cash flow hedges (1)

(if a gain, report as a positive value; if a loss, report as a negative value)

    4336    (25,660 )   4

5.

    LESS: Nonqualifying perpetual preferred stock    B588    0     5

6.

    Qualifying minority interests in consolidated subsidiaries    B589    1,012,337     6

7.

    LESS: Disallowed goodwill and other disallowed intangible assets    B590    1,068,162     7

8.

    Subtotal (sum of items 1 and 6, less items 2, 3, 4, 5, and 7)    C227    8,544,922     8

9.

    a. LESS: Disallowed servicing assets and purchased credit card relationships    B591    25,983     9.a
     b. LESS: Disallowed deferred tax assets    5610    0     9.b

10.

    Other additions to (deductions from) Tier 1 capital    B592    0     10

11.

    Tier 1 capital (sum of items 8 and 10, less items 9.a and 9.b)    8274    8,518,939     11

Tier 2 Capital

                

12.

    Qualifying subordinated debt and redeemable preferred stock    5306    1,859,517     12

13.

    Cumulative perpetual preferred stock includible in Tier 2 capital    B593    0     13

14.

    Allowance for loan and lease losses includible in Tier 2 capital    5310    932,810     14

15.

    Unrealized gains on available-for-sale equity securities includible in Tier 2 capital    2221    529,922     15

16.

    Other Tier 2 capital components    B594    0     16

17.

    Tier 2 capital (sum of items 12 through 16)    5311    3,322,249     17

18.

    Allowable Tier 2 capital (lesser of item 11 or 17)    8275    3,322,249     18

19.

    Tier 3 capital allocated for market risk    1395    0     19

20.

    LESS: Deductions for total risk-based capital    B595    0     20

21.

    Total risk-based capital (sum of items 11, 18, and 19, less item 20)    3792    11,841,188     21

Total assets for leverage ratio

                

22.

    Average total assets (from Schedule RC-K, item 9)    3368    114,789,856     22

23.

    LESS: Disallowed goodwill and other disallowed intangible assets (from item 7 above)    B590    1,068,162     23

24.

    LESS: Disallowed servicing assets and purchased credit card relationships (from item 9.a above)    B591    25,983     24

25.

    LESS: Disallowed deferred tax assets (from item 9.b above)    5610    0     25

26.

    LESS: Other deductions from assets for leverage capital purposes    B596    0     26

27.

    Average total assets for leverage capital purposes (item 22 less items 23 through 26)    A224    113,695,711     27

Adjustments for financial subsidiaries

                

28.

    a Adjustment to Tier 1 capital reported in item 11    C228    0     28.a
     b. Adjustment to total risk-based capital reported in item 21    B503    0     28.b

29.

    Adjustment to risk-weighted assets reported in item 62    B504    0     29

30.

    Adjustment to average total assets reported in item 27    B505    0     30

Capital Ratios

                
(Column B is to be completed by all banks. Column A is to be completed by banks with financial subsidiaries)                
          RCFD
   

(Column A)

Percentage

    RCFD
   

(Column B)

Percentage

      

31.

    Tier 1 leverage ratio (2)    7273    N/A    7204    7.49 %   31

32.

    Tier 1 risk-based capital ratio (3)    7274    N/A    7206    7.71 %   32

33.

    Total risk-based capital ratio (4)    7275    N/A    7205    10.72 %   33
(1)   Report amount included in Schedule RC, item 26.b, “Accumulated other comprehensive income.”
(2)   The ratio for column B is item 11 divided by item 27. The ratio for column A is item 11 minus item 28.a divided by (item 27 minus item 30).
(3)   The ratio for column B is item 11 divided by item 62. The ratio for column A is item 11 minus item 28.a divided by (item 62 minus item 29).
(4)   The ratio for column B is item 21 divided by item 62. The ratio for column A is item 21 minus item 28.b divided by (item 62 minus item 29).

1.g

   

FFIEC 031

Legal Title of Bank

   

RC-22

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    33

 

Schedule RC-R—Continued

 

Banks are not required to risk-weight each on-balance sheet asset and the credit equivalent amount of each off-balance sheet item that qualifies for a risk weight of less than 100 percent (50 percent for derivatives) at its lower risk rate. When completing items 34 through 54 of Schedule RC-R, each bank should decide for itself how detailed a risk-weight analysis it wishes to perform. In other words, a bank can choose from among its assets and off-balance sheet items that have a risk weight of less than 100 percent which ones to risk-weight at an appropriate lower risk, or it can simply risk-weight some or all of these items at a 100 percent risk weight (50 percent for derivatives).

 

Dollar Amounts in Thousands

   

(Column A)

Totals

(from Schedule
RC)

   

(Column B)

Items Not

Subject to

Risk-Weighting

    (Column C)
    (Column D)
    (Column E)
    (Column F)
     
         Allocation by Risk Weight Category
     
         0%
    20%
    50%
    100%
     
     Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
     
Balance Sheet Asset Catagories                                   

34.

    Cash and balances due from depository institutions (Column A equals the sum of Schedule RC, items 1.a and 1.b)   

RCFD 0010

4,484,838

        

RCFD B600

709,942

   

RCFD B601

3,774,896

        

RCFD B602

0

    34

35.

    Held-to-maturity securities   

RCFD 1754

0

   

RCFD B603

0

   

RCFD B604

0

   

RCFD B605

0

   

RCFD B606

0

   

RCFD B607

0

    35

36.

    Available-for-sale securities   

RCFD 1773

19,854,955

   

RCFD B608

889,179

   

RCFD B609

161,343

   

RCFD B610

15,434,029

   

RCFD B611

957,503

   

RCFD B612

2,412,901

    36

37.

    Federal funds sold and securities purchased under agreements to resell   

RCFD C225

4,207,921

        

RCFD C063

0

   

RCFD C064

4,207,921

        

RCFD B520

0

    37

38.

    Loans and leases held for sale   

RCFD 5369

9,037,490

   

RCFD B617

0

   

RCFD B618

0

   

RCFD B619

572,585

   

RCFD B620

8,464,905

   

RCFD B621

0

    38

39.

    Loans and leases, net of unearned income   

RCFD B528

75,008,023

   

RCFD B622

0

   

RCFD B623

60,681

   

RCFD B624

1,914,554

   

RCFD B625

15,401,356

   

RCFD B626

57,631,432

    39

40.

    LESS: Allowance for loan and lease losses   

RCFD 3123

932,810

   

RCFD 3123

932,810

                        40

41.

    Trading assets   

RCFD 3545

1,472,750

   

RCFD B627

1,472,750

   

RCFD B628

0

   

RCFD B629

0

   

RCFD B630

0

   

RCFD B631

0

    41

42.

    All other assets (1)   

RCFD B639

5,611,996

   

RCFD B640

1,068,162

   

RCFD B641

76,711

   

RCFD B642

314,158

   

RCFD B643

0

   

RCFD 5339

4,152,965

    42

43.

    Total assets (sum of items 34 through 42)   

RCFD 2170

118,745,163

   

RCFD B644

2,497,281

   

RCFD 5320

1,008,677

   

RCFD 5327

26,218,143

   

RCFD 5334

24,823,764

   

RCFD 5340

64,197,298

    43
(1)   Includes premises and fixed assets, other real estate owned, investments in unconsolidated subsidiaries and associated companies, customers’ liability on acceptances outstanding, intangible assets, and other assets.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RI-23

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    34

 

Schedule RC-R—Continued

 

    (Column A)
Face Value
or Notional
Amount
   Credit
Conversion
Factor
   (Column B)
Credit
Equivalent
Amount (1)
   (Column C)
   (Column D)
   (Column E)
   (Column F)
    
          Allocation by Risk Weight Category
          0%
   20%
   50%
   100%
    

Dollar Amounts in Thousands

   Bil | Mil | Thou
     Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
    
Derivatives and Off-Balance Sheet Items   RCFD B546   See footnote 2   RCFD B547   RCFD B548   RCFD B581   RCFD B582   RCFD B583    
44.   Financial standby letters of credit   10,638,430   M   10,638,430   225   342,199   0   10,296,006   44
45.   Performance standby letters of of credit  

RCFD 3821

356,858

   .50  

RCFD B650

178,429

  

RCFD B651

0

  

RCFD B652

2,836

  

RCFD B653

0

  

RCFD B654

175,594

   45
46.   Commercial and similar letters of credit  

RCFD 3411

129,724

   .20  

RCFD B655

25,945

  

RCFD B656

0

  

RCFD B657

0

  

RCFD B658

0

  

RCFD B659

25,945

   46
47.   Risk participations in bankers acceptances acquired by the reporting institution  

RCFD 3429

33

   1.00  

RCFD B660

33

  

RCFD B661

0

  

RCFD B662

0

      

RCFD B663

33

   47
48.   Securities lent  

RCFD 3433

0

   1.00  

RCFD B664

0

  

RCFD B665

0

  

RCFD B666

0

  

RCFD B667

0

  

RCFD B668

0

   48
49.   Retained recourse on small business obligations sold with recourse  

RCFD A250

0

   1.00  

RCFD B669

0

  

RCFD B670

0

  

RCFD B671

0

  

RCFD B672

0

  

RCFD B673

0

   49
50.   Recourse and direct credit substitutes (other than financial standby letters of credit) subject to the low-level exposure rule and residual interests subject to a dollar-for-dollar capital requirement  

RCFD B541

6,373

  

* Below

12.500

  

RCFD B542

79,663

              

RCFD B543

79,663

   50
51.   All other financial assets sold with recourse  

RCFD B675

4,651,268

   1.00  

RCFD B676

4,651,268

  

RCFD B677

0

  

RCFD B678

3,599,833

  

RCFD B679

1,051,435

  

RCFD B680

0

   51
52.   All other off-balance sheet liabilities  

RCFD B681

0

   1.00  

RCFD B682

0

  

RCFD B683

0

  

RCFD B684

0

  

RCFD B685

0

  

RCFD B686

0

   52
53.   Unused commitments with an original maturity exceeding one year  

RCFD 3833

30,028,193

   .50  

RCFD B687

15,014,097

  

RCFD B688

0

  

RCFD B689

0

  

RCFD B690

0

  

RCFD B691

15,014,097

   53
54.   Derivative contracts          

RCFD A167

2,727,374

  

RCFD B693

0

  

RCFD B694

0

  

RCFD B695

2,727,374

       54
(1)   Column A multiplied by credit conversion factor.
(2)   For financial standby letters of credit to which the low-level exposure rule applies, use a credit conversion factor of 12.5 or an institution-specific factor. For other financial standby letters of credit, use a credit conversion factor of 1.00. See instructions for further information.
(3)   Or institution-specific factor.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-24

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    35

 

Schedule RC-R—Continued

 

         (Column C)
     (Column D)
     (Column E)
     (Column F)
      
         Allocation by Risk Weight Category
      
         0%
     20%
     50%
     100%
      

Dollar Amounts in Thousands

    Bil | Mil | Thou
     Bil | Mil | Thou
     Bil | Mil | Thou
     Bil | Mil | Thou
      
    Totals                             

55.

   Total assets, derivatives, and off-balance sheet items by risk weight category (for each column, sum of items 43 through 54)    RCFD B696     RCFD B697     RCFD B698     RCFD B699      
         1,008,902     30,163,011     28,602,573     89,788,636     55

56.

   Risk weight factor    * 0 %   * 20 %   * 50 %   * 100 %   56

57.

   Risk-weighted assets by risk weight category (for each column, item 55 multiplied by item 56)    RCFD B700     RCFD B701     RCFD B702     RCFD B703      
         0     6,032,602     14,301,287     89,788,636     57

58.

   Market risk equivalent assets                      RCFD 1651      
                           360,175     58

59.

   Risk-weighted assets before deductions for excess allowance for loan and lease losses and allocated transfer risk reserve (sum of item 57, columns C through F, and item 58)                      RCFD B704      
                           110,482,700     59

60.

   LESS: Excess allowance for loan and lease losses                      RCFD A222      
                           0     60

61.

   LESS: Allocated transfer risk reserve                      RCFD 3128      
                           0     61

62.

   Total risk-weighted assets (item 59 minus items 60 and 61)                      RCFD A223      
                           110,482,700     62

 

   

Memoranda

               
   

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     

1.

   Current credit exposure across all derivative contracts covered by the risk-based capital standards    8764    2,279,433    M.1

 

            

With a remaining maturity of

     
            

(Column A)

One year

or less

   

(Column B)

Over one year

through

five years

   

(Column C)

Over

five years

     
2.   Notional principal amounts of
derivative contracts: (1)		    RCFD
    Tril | Bil | Mil | Thou
    RCFD
    Tril | Bil | Mil | Thou
    RCFD
    Tril | Bil | Mil | Thou
     
    a.   Interest rate contracts    3809    23,251,167    8766    21,327,941    8767    12,715,004    M.2.a
    b.   Foreign exchange contracts    3812    3,021,782    8769    957,105    8770    0    M.2.b
    c.   Gold contracts    8771    0    8772    0    8773    0    M.2.c
    d.   Other precious metals contracts    8774    0    8775    0    8776    0    M.2.d
    e.   Other commodity contracts    8777    2,400    8778    0    8779    0    M.2.e
    f.   Equity derivative contracts    A000    417,917    A001    589,857    A002    0    M.2.f
(1)   Exclude foreign exchange contracts with an original maturity of 14 days or less and all futures contracts.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-25

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    36

 

Schedule RC-S—Securitization and Asset Sale Activities

 

    (Column A)
1-4 Family
Residential
Loans
   (Column B)
Home
Equity
Loans
   (Column C)
Credit
Card
Receivables
   (Column D)
Auto
Loans
   (Column E)
Other
Consumer
Loans
   (Column F)
Commercial
and Industrial
Loans
   (Column G)
All Other
Loans and
All Leases
     

Dollar Amounts in Thousands

   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
     
Bank Securitization Activities                                 

1.

    Outstanding principal balance of assets sold and securitized by the reporting bank with servicing retained or with recourse or other seller-provided credit enhancements  

RCFD B705

44,041,696

  

RCFD B706

0

  

RCFD B707

0

  

RCFD B708

0

  

RCFD B709

57,951

  

RCFD B710

0

  

RCFD B711

0

    1

2.

    Maximum amount of credit exposure arising from recourse or other seller-provided credit enhancements provided to structurs reported in item 1 in the form of:                                 
     a.    Credit-enhancing interest-only strips (included in Schedules RC-B or RC-F or in Schedule RC, item 5)  

RCFD B712

0

  

RCFD B713

0

  

RCFD B714

0

  

RCFD B715

0

  

RCFD B716

0

  

RCFD B717

0

  

RCFD B718

0

    2.a
     b.    Subordinated securities and other residual interests  

RCFD C393

0

  

RCFD C394

0

  

RCFD C395

0

  

RCFD C396

0

  

RCFD C397

0

  

RCFD C398

0

  

RCFD C399

0

    2.b
     c.    Standby letters of credit and other enhancements  

RCFD C400

1,055,127

  

RCFD C401

0

  

RCFD C402

0

  

RCFD C403

0

  

RCFD C404

0

  

RCFD C405

0

  

RCFD C406

0

    2.c

3.

    Reporting bank’s unused commitments to provide liquidity to structures reported in item 1  

RCFD B726

0

  

RCFD B727

0

  

RCFD B728

0

  

RCFD B729

0

  

RCFD B730

0

  

RCFD B731

0

  

RCFD B732

0

    3

4.

    Past due loan amounts included in item 1:                                 
     a.    30-89 days past due  

RCFD B733

919,522

  

RCFD B734

0

  

RCFD B735

0

  

RCFD B736

0

  

RCFD B737

3,326

  

RCFD B738

0

  

RCFD B739

0

    4.a
     b.    90 days or more past due  

RCFD B740

153,300

  

RCFD B741

0

  

RCFD B742

0

  

RCFD B743

0

  

RCFD B744

2,494

  

RCFD B745

0

  

RCFD B746

0

    4.b

5.

    Charge-offs and recoveries on assets sold and securitized with servicing retained or with recourse or other seller-provided credit enhancements (calendar year-to-date):                                 
     a.    Charge-offs  

RIAD B747

1,967

  

RIAD B748

0

  

RIAD B749

0

  

RIAD B750

0

  

RIAD B751

1

  

RIAD B752

0

  

RIAD B753

0

   

5.a

    

b.

   

Recoveries

  

RIAD B754

619

  

RIAD B755

0

  

RIAD B756

0

  

RIAD B757

0

  

RIAD B758

0

  

RIAD B759

0

  

RIAD B760

0

   

5.b

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-26

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    37

 

Schedule RC-S—Continued

 

             

(Column A)

1-4 Family

Residential
Loans

  

(Column B)

Home

Equity

Loans

  

(Column C)

Credit

Card

Receivables

  

(Column D)
Auto

Loans

   (Column E)
Other
Consumer
Loans
   (Column F)
Commercial
and Industrial
Loans
  

(Column G)
All Other
Loans and

All Leases

    

Dollar Amounts in Thousands

   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
   Bil | Mil | Thou
    

6.

    Amount of ownership (or seller’s) interest carried as:                                
     a.    Securities (included in RC-B or RC, item 5)      

RCFD B761

0

  

RCFD B762

0

          

RCFD B763

0

       6.a
     b.    Loans (included in Schedule RC-C)      

RCFD B500

0

  

RCFD B501

0

          

RCFD B502

0

       6.b

7.

    Past due loan amounts included in interests reported in item 6.a:                                
     a.    30-89 days past due      

RCFD B764

0

  

RCFD B765

0

          

RCFD B766

0

       7.a
     b.    90 days or more past due      

RCFD B767

0

  

RCFD B768

0

          

RCFD B769

0

       7.b

8.

    Charge-offs and recoveries on loan amounts included in interests reported in item 6.a (calendar year-to-date):                                
     a.    Charge-offs      

RIAD B770

0

  

RIAD B771

0

          

RIAD B772

0

       8.a
     b.    Recoveries      

RIAD B773

0

  

RIAD B774

0

          

RIAD B775

0

       8.b
For Securitization Facilities Sponsored By or Otherwise Established By Other Institutions                                

9.

    Maximum amount of credit exposure arising from credit enhancements provided by the reporting bank to other institutions’ securitization structures in the form of standby letters of credit, purchased subordinated securities, and other enhancements  

RCFD B776

0

  

RCFD B777

0

  

RCFD B778

0

  

RCFD B779

0

  

RCFD B780

0

  

RCFD B781

0

  

RCFD B782

0

   9

10.

    Reporting bank’s unused commitments to provide liquidity to other institutions’ securitization structures  

RCFD B783

0

  

RCFD B784

0

  

RCFD B785

0

  

RCFD B786

0

  

RCFD B787

0

  

RCFD B788

0

  

RCFD B789

0

   10

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-27

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

 

FDIC Certificate Number - 00867

    38

 

Schedule RC-S—Continued

 

         (Column A)
1-4 Family
Residential
Loans
    (Column B)
Home
Equity
Loans
    (Column C)
Credit
Card
Receivables
    (Column D)
Auto
Loans
    (Column E)
Other
Consumer
Loans
    (Column F)
Commercial
and Industrial
Loans
    (Column G)
All Other
Loans and
All Leases
     

Dollar Amounts in Thousands

    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
    Bil | Mil | Thou
     

Bank Asset Sales

                                        

11.

   Assets sold with recourse or other seller- provided credit enhancements and not securitized by the reporting bank   

RCFD B790

0

   

RCFD B791

0

   

RCFD B792

0

   

RCFD B793

0

   

RCFD B794

31,886

   

RCFD B795

11,720

   

RCFD B796

0

    11

12.

   Maximum amount of credit exposure arising from recourse or other seller- provided credit enhancements pro-vided to assets reported in item 11   

RCFD B797

0

   

RCFD B798

0

   

RCFD B799

0

   

RCFD B800

0

   

RCFD B801

2,250

   

RCFD B802

11,720

   

RCFD B803

0

    12

 

Memoranda

   

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     

1.

    Small Business obligations transferred with recourse under Section 208 of the Riegle Community Development and Regulatory Improvement Act of 1994:               
     a.    Outstanding principal balance    A249    0    M.1.a
     b.    Amount of retained recourse on these obligations as of the report date    A250    0    M.1.b

2.

    Outstanding principal balance of assets serviced for others:               
     a.    1-4 family residential mortgages serviced with recourse or other servicer-provided credit enhancements    B804    4,771,501    M.2.a
     b.    1-4 family residential mortgages serviced with no recourse or other servicer-provided credit enhancements    B805    58,713,848    M.2.b
     c.    Other financial assets (1)    A591    57,951    M.2.c

3.

    Asset-backed commercial paper conduits:               
     a.    Maximum amount of credit exposure arising from credit enhancements provided to conduit structures in the form of standby letters of credit, subordinated securities, and other enhancements:               
          (1)    Conduits sponsored by the bank, a bank affiliate, or the bank’s holding company    B806    351,060    M.3.a.1
          (2)    Conduits sponsored by other unrelated institutions    B807    0    M.3.a.2
     b.    Unused commitments to provide liquidity to conduit structures:               
          (1)    Conduits sponsored by the bank, a bank affiliate, or the bank’s holding company    B808    4,180,667    M.3.b.1
          (2)    Conduits sponsored by other unrelated institutions    B809    0    M.3.b.2

4.

    Outstanding credit card fees and finance charges included in Schedule RC-S, item 1, column c (2)    C407    0    M.4
(1)   Memorandum item 2.c is to be completed if the principal balance of other financial assets serviced for others is more than $10 million.
(2)   Memorandum item 4 is to be completed by banks that (1) together with affiliated institutions, have outstanding credit card receivables (as defined in the instructions) that exceed $500 million as of the report date or (2) are credit card specialty banks as defined for Uniform Bank Performance Report purposes.

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-28

 

FDIC Certificate Number - 00867

    39

 

Schedule RC-T—Fiduciary and Related Services

 

Items 12 through 23 and Memorandum item 4 will not be made available to the public on an individual institution basis.

 

         

RCFD

    YES / NO
     
1.    Does the bank have fiduciary powers? (If “NO”, do not complete Schedule RC-T.)    A345    YES    1
         

RCFD

    YES / NO
     
2.    Does the bank exercise the fiduciary powers it has been granted?    A346    YES    2
         

RCFD

    YES / NO
     
3.   

Does the institution have any fiduciary or related activity (in the form of assets or accounts)?

(If “NO,” do not complete the rest of Schedule RC-T.)

    B867    YES    3

 

If the answer to item 3 is “YES”, complete the applicable items of Schedule RC-T, as follows:

 

Institutions with total fiduciary assets (item 9, sum of columns A and B) greater than $250 million (as of the preceding December 31) or with gross fiduciary and related services income greater than 10% of revenue (net interest income plus noninterest income) for the preceeding calendar year must complete:

 

  •   Items 4 through 19.a quarterly,

 

  •   Items 20 through 23 annually with the December report, and

 

  •   Memorandum items 1 through 4 annually with the December report.

 

Institutions with total fiduciary assets (item 9, sum of columns A and B) greater than $100 million but less than or equal to $250 million (as of the preceding December 31) that do not meet the fiduciary income test for quarterly reporting must complete:

 

  •   Items 4 through 23 annually with the December report, and

 

  •   Memorandum items 1 through 4 annually with the December report.

 

Institutions with total fiduciary assets (item 9, sum of columns A and B) of $100 million or less (as of the preceding December 31) that do not meet the fiduciary income test for quarterly reporting must complete:

 

  •   Items 4 through 11 annually with the December report, and

 

  •   Memorandum items 1 through 3 annually with the December report.

 

     (Column A)
Managed Assets
    (Column B) Non-
Managed Assets
    (Column C)
Number of
Managed
Accounts
    (Column D)
Number of
Non-Managed
Accounts
     

Dollar Amounts in Thousands

    Tril | Bil | Mil | Thou
    Tril | Bil | Mil | Thou
               

FIDUCIARY AND RELATED ASSETS

                         
4.    Personal trust and agency accounts   

RCFD B868

28,151,417

   

RCFD B869

3,097,639

   

RCFD B870

22,744

   

RCFD B871

1,364

   

4

5.    Retirement related trust and agency accounts:                         
     a.    Employee benefit-defined contribution   

RCFD B872

403,151

   

RCFD B873

5,613,576

   

RCFD B874

320

   

RCFD B875

1,149

   

5.a

     b.    Employee benefit-defined benefit   

RCFD B876

4,124,553

   

RCFD B877

7,441,123

   

RCFD B878

370

   

RCFD B879

455

    5.b
     c.    Other retirement accounts   

RCFD B880

2,510,240

   

RCFD B881

2,487,994

   

RCFD B882

3,048

   

RCFD B883

756

    5.c
6.         Corporate trust and agency accounts   

RCFD B884

42,455

   

RCFD B885

17,106,710

   

RCFD C001

8,051

   

RCFD C002

696

    6
7.         Inventment management agency accounts   

RCFD B886

16,850,431

        

RCFD B888

8,065

         7
8.         Other fiduciary accounts   

RCFD B890

0

   

RCFD B891

199,024

   

RCFD B892

0

   

RCFD B893

258

    8

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-29

FDIC Certificate Number - 00867    40

 

Schedule RC-T—Continued

 

    

(Column A)
Managed

Assets

   

(Column B)

Non-Managed
Assets

            (Column C)        
Number of Managed
Accounts
   

        (Column D)        

Number of Non-
Managed Accounts

     

Dollar Amounts in Thousands

    Tril | Bil | Mil | Thou
    Tril | Bil | Mil | Thou
               
FIDUCIARY AND RELATED ASSETS—Continued                         
9.    Total fiduciary accounts (sum of items 4 through 8)   

RCFD B894

52,082,247

   

RCFD B895

35,946,066

   

RCFD B896

42,598

   

RCFD B897

4,678

   

9

10.    Custody and safekeeping accounts        

RCFD B898

46,648,715

        

RCFD B899

5,134

    10
11.    Fiduciary accounts held in foreign ofices (included in items 9 and 10)   

RCFN B900

0

   

RCFN B901

0

   

RCFN B902

0

   

RCFN B903

0

    11

 

Dollar Amounts in Thousands

    RIAD
    Bil | Mil | Thou
     
FIDUCIARY AND RELATED SERVICES INCOME                    
12.    Personal trust and agency accounts         B904    103,847    12
13.    Retirement related trust and agency accounts:                    
     a.    Employee benefit—defined contribution         B905    15,921    13.a
     b.    Employee benefit—defined benefit         B906    13,086    13.b
     c.    Other retirement accounts         B907    11,800    13.c
14.    Corporate trust and agency accounts         A479    15,381    14
15.    Investment management agency accounts         B908    41,431    15
16.    Other fiduciary accounts         A480    416    16
17.    Custody and safekeeping accounts         B909    8,592    17
18.    Other fiduciary and related services income         B910    0    18
19.    Total gross fiduciary and related services income (sum of items 12 through 18)                    
     (must equal Schedule RI, item 5.a)         4070    210,474    19
     a.    Fiduciary and related services income-foreign offices (included in item 19)    B912    0              19.a
20.    Less: Expenses         C058    N/A    20
21.    Less: Net losses from fiduciary and related services         A488    N/A    21
22.    Plus: Intracompany income credits for fiduciary and related services         B911    N/A    22
23.    Net fiduciary and related services income         A491    N/A    23

Memoranda

   

Managed

Assets

     

Dollar Amounts in Thousands

    RCFD
    Bil | Mil | Thou
     
1.    Managed assets held in personal trust and agency accounts:               
     a.    Non interest-bearing deposits    B913    N/A    M.1.a
     b.    Interest-bearing deposits    B914    N/A    M.1.b
     c.    U.S. Treasury and U.S. Government agency obligations    B915    N/A    M.1.c
     d.    State, county and municipal obligations    B916    N/A    M.1.d
     e.    Money market mutual funds    B917    N/A    M.1.e
     f.    Other short-term obligations    B918    N/A    M.1.f
     g.    Other notes and bonds    B919    N/A    M.1.g
     h.    Common and preferred stocks    B920    N/A    M.1.h
     i.    Real estate mortgages    B921    N/A    M.1.i
     j.    Real estate    B922    N/A    M.1.j
     k.    Miscellaneous assets    B923    N/A    M.1.k
     l.    Total assets of managed personal trust and agency accounts (sum of Memorandum items 1.a through 1.k) (must equal Schedule RC-T, item 4, column A)    B868    N/A    M.1.l

SUNTRUST BANK

   

FFIEC 031

Legal Title of Bank

   

RC-30

 

FDIC Certificate Number - 00867

    41

 

Schedule RC-T—Continued

 

Memoranda—Continued

 

Dollar Amounts in Thousands

   

(Column A)

Number of
Issues

   

(Column B)

Principal Amount
Outstanding

     
   RCFD
         RCFD
    Bil | Mil | Thou
     
2.    Corporate trust and agency accounts:                         
     a.    Corporate and municipal trusteeships    B927    N/A    B928    N/A    M.2.a
     b.    Transfer agent, registrar, paying agent, and other corporate agency    B929    N/A              M.2.b
     (Column A)
Number of
Funds
   

(Column B)

Market Value of

Fund Assets

     

Dollar Amounts in Thousands

    RCFD
         RCFD
    Bil | Mil | Thou
     
3.    Collective investment funds and common trust funds:                         
     a.    Domestic equity    B931    N/A    B932    N/A    M.3.a
     b.    International/Global equity    B933    N/A    B934    N/A    M.3.b
     c.    Stock/Bond blend    B935    N/A    B936    N/A    M.3.c
     d.    Taxable bond    B937    N/A    B938    N/A    M.3.d
     e.    Municipal bond    B939    N/A    B940    N/A    M.3.e
     f.    Short term investments/Money market    B941    N/A    B942    N/A    M.3.f
     g.    Specialty/Other    B943    N/A    B944    N/A    M.3.g
     h.    Total collective investment funds (sum of Memorandum items 3.a through 3.g)    B945    N/A    B946    N/A    M.3.h

 

    

(Column A)

Gross Losses
Managed

Accounts

   

(Column B)

Gross Losses

Non-Managed
Accounts

    (Column C)
Recoveries
     

Dollar Amounts in Thousands

    RIAD
    Mil | Thou
    RIAD
    Mil | Thou
    RIAD
    Mil | Thou
     
4.   Fiduciary settlements, surcharges and other losses:                                   
    a.   Personal trust and agency accounts    B947    N/A    B948    N/A    B949    N/A    M.4.a
    b.   Retirement related trust and agency accounts    B950    N/A    B951    N/A    B952    N/A    M.4.b
    c.   Investment management agency accounts    B953    N/A    B954    N/A    B955    N/A    M.4.c
    d.   Other fiduciary accounts and related services    B956    N/A    B957    N/A    B958    N/A    M.4.d
    e.   Total fiduciary settlements, surcharges, and other losses (sum of Memorandum items 4.a through 4.d) (sum of columns A and B minus column C must equal Schedule RC-T, item 21)    B959    N/A    B960    N/A    B961    N/A    M.4.e

 

Person to whom questions about Schedule RC-T—Fiduciary and Related Services should be directed:

 

        Teresa Brightly

        Name and Title (TEXT B962)

        Teresa.Brightly@SunTrust.com

        E-mail Address (TEXT B926)

        804-782-7107

        Telephone: Area code/phone number/extension (TEXT B963)

  

FAX: Area code/phone number (TEXT B964)

Optional Narrative Statement Concerning the Amounts   

FFIEC 031

Reported in the Reports of Condition and Income   

RC-31

at close of business on June 30, 2003

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

    42

 

SUNTRUST BANK   ATLANTA   GA
Legal Title of Bank   City   State

 

The management of the reporting bank may, if it wishes, submit a brief narrative statement on the amounts reported in the Reports of Condition and Income. This optional statement will be made available to the public, along with the publicly available data in the Reports of Condition and Income, in response to any request for individual bank report data. However, the information reported in Schedule RC-T, items 12 through 23 and Memorandum item 4, is regarded as confidential and will not be released to the public. BANKS CHOOSING TO SUBMIT THE NARRATIVE STATEMENT SHOULD ENSURE THAT THE STATEMENT DOES NOT CONTAIN THE NAMES OR OTHER IDENTIFICATIONS OF INDIVIDUAL BANK CUSTOMERS, REFERENCES TO THE AMOUNTS REPORTED IN THE CONFIDENTIAL ITEMS IN SCHEDULE RC-T, OR ANY OTHER INFORMATION THAT THEY ARE NOT WILLING TO HAVE MADE PUBLIC OR THAT WOULD COMPROMISE THE PRIVACY OF THEIR CUSTOMERS. Banks choosing not to make a statement may check the “No comment’ box below and should make no entries of any kind in the space provided for the narrative statement; I.e., DO NOT enter in this space such phrases as “No statement,” “Not applicable,” “N/A,” “No comment,” and “None.”

 

The optional statement must be entered on this sheet. The statement should not exceed 100 words. Further, regardless of the number of words, the statement must not exceed 750 characters, including punctuation, indentation, and standard spacing between words and sentences. If any submission should exceed 750 characters, as defined, it will be truncated at 750 characters with no notice to the submitting bank and the truncated statement will appear as the bank’s statement both on agency computerized records and in computer-file releases to the public.

 

All information furnished by the bank in the narrative statement must be accurate and not misleading. Appropriate efforts shall be taken by the submitting bank to ensure the statement’s accuracy. The statement must be signed, in the space provided below, by a senior officer of the bank who thereby attests to its acuracy.

 

If, subsequent to the original submission, material changes are submitted for the data reported in the Reports of Condition and Income, the existing narrative statement will be deleted from the files, and from disclosure; the bank, at its option, may replace it with a statement, under signature, appropriate to the amended data.

 

The optional narrative statement will appear in agency records and in release to the public exactly as submitted (or amended as described in the preceding paragraph) by the management of the bank (except for the trucnation of the statements exceeding the 750-character limit described above.) THE STATEMENT WILL NOT BE EDITED OR SCREENED IN ANY WAY BY THE SUPERVISORY AGENCIES FOR ACCURACY OR RELEVANCE. DISCLOSURE OF THE STATEMENT SHALL NOT SIGNIFY THAT ANY FEDERAL SUPERVISORY AGENCY HAS VERIFIED OR CONFIRMED THE ACCURACY OF THE INFORMATION CONTAINED THEREIN. A STATEMENT TO THIS EFFECT WILL APPEAR ON ANY PUBLIC RELEASE OF THE OPTIONAL STATEMENT SUBMITTED BY THE MANAGEMENT OF THE REPORTING BANK.

 

X = NO COMMENT Y = COMMENT

    6979    X

BANK MANAGEMENT STATEMENT (please type or print clearly):

          

TEXT ( 70 characters per line )

          
    6980              
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          
   

 

          

 

                Signature of Executive Officer of Bank   Date of Signature

THIS PAGE IS TO BE COMPLETED BY ALL BANKS

 

Transmitted to InterCept on 07/30/2003. Confirmation Number - 0008111

               43

NAME AND ADDRESS OF BANK

 

SUNTRUST BANK

P.O. BOX 4418 CENTER 632

ATLANTA, GA 30302

   

OMB No. For OCC: 1557-0081

OMB No. For FDIC: 3064-0052

OMB No. For Federal Reserve: 7100-0036

Expiration Date: 4/30/2006

 

SPECIAL REPORT

(Dollar Amounts in Thousands)

  

 

CLOSE OF BUSINESS DATE

   

 

FDIC Certificate Number

  

 

6/30/2003

    867

 

LOANS TO EXECUTIVE OFFICERS (Complete as of each Call Report Date)

     

 

The following information is required by Public Laws 90-44 and 102-242, but does not constitute a part of the Report of Condition. With each Report of Condition, these Laws require all banks to furnish a report of all loans or other extensions of credit to their excutive officers made since the date of the previous Report of Condition. Data regarding individual loans or other extensions of credit are not required. If no such loans or other extensions of credit were made during the period, insert “none” against subitem (a).

(Excluded the first $15,000 of indebtedness of each executive officer under bank credit card plan.)

See Sections 215.2 and 215.3 of Title 12 of the Code of Federal Regulations (Federal Reserve Board Regulation O) for the definitions of “executive officer” and “extension of credit,” respectively. Exclude loans and other extensions of credit to directors and principal shareholders who are not executive officers.

 

                     RCFD
           
a.    Number of loans made to executive officers since the previous Call Report date   3561    0     a
b.    Total dollar amount of above loans (in thousands of dollars)   3562    0     b
c.    Range of interest charged on above loans    From       

To

 

    
     (example: 9-3/4% = 9.75)    7701    0.00 %   7702    0.00 %   c
SIGNATURE AND TITLE OF OFFICER AUTHORIZED TO SIGN REPORT    DATE (Month, Day, Year)

REPORT OF CONDITION

 

Consolidating domestic and foreign subsidiaries of the

SUNTRUST BANK

in the state of GA at close of business on June 30, 2003

published in response to call made by (Enter additional information below)

 

Statement of Resources and Liabilities

 

     Dollar Amounts in Thousands

ASSETS

          

Cash and balances due from depository institutions:

          

Noninterest-bearing balances and currency and coin

         4,469,018

Interest-bearing balances

         15,820

Securities:

          

Held-to-maturity securities

         0

Available-for-sale securities

         19,854,955

Federal funds sold and securities purchased under agreements to resell:

          

Federal funds sold in domestic offices

         436,600

Securities purchased under agreements to resell

         3,771,321

Loans and lease financing receivables:

          

Loans and leases held for sale

         9,037,490

Loans and leases, net of unearned income

    75,008,023     

LESS: Allowance for loan and lease losses

    932,810     

Loans and leases, net of unearned income and allowance

         74,075,213

Trading Assets

         1,472,750

Premises and fixed assets (including capitalized leases)

         1,296,757

Other real estate owned

         29,826

Investments in unconsolidated subsidiaries and associated companies

         0

Customers’ liability to this bank on acceptances outstanding

         84,980

Intangible assets:

          

Goodwill

         862,393

Other intangible assets

         607,990

Other assets

         2,730,050

Total assets

         118,745,163

 

FDIC /54C (3-90)

REPORT OF CONDITION (Continued)

 

LIABILITIES

 

     Dollar Amounts in Thousands

Deposits:

          

In domestic offices

         74,459,262

Noninterest-bearing

    10,248,343     

Interest-bearing

    64,210,919     

In foreign offices, Edge and Agreement subsidiaries, and IBFs

         2,934,964

Noninterest-bearing

    0     

Interest-bearing

    2,934,963     

Federal funds purchased and securities sold under agreements to repurchase:

          

Federal funds purchased in domestic offices

         8,979,352

Securities sold under agreements to repurchase

         8,422,227

Trading liabilities

         1,179,121

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

         7,252,577

Bank’s liability on acceptances executed and outstanding

         84,980

Subordinated notes and debentures

         2,149,629

Other liabilities

         2,777,007

Total liabilities

         108,239,119

Minority interest in consolidated subsidiaries

         1,012,337

EQUITY CAPITAL

          

Perpetual preferred stock and related surplus

         0

Common stock

         21,600

Surplus (exclude all surplus related to preferred stock)

         2,734,106

Retained earnings

         5,845,041

Accumulated other comprehensive income

         892,960

Other equity capital components

         0

Total equity capital

         9,493,707

Total liabilities, minority interest, and equity capital

         118,745,163

 

We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.  

I, Jorge Arrieta, SVP & Controller

 

( Name, Title )

 

of the above named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

 

Director #1

  

 

Director #2

  

 

Director #3

  

 

EXHIBIT 8 TO FORM T-1

 

(INTENTIONALLY OMITTED. NOT APPLICABLE.)

EXHIBIT 9 TO FORM T-1

 

(INTENTIONALLY OMITTED. NOT APPLICABLE)