SunTrust 2006 Annual Report Download - page 108

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SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
The changes in carrying amounts of other intangible assets for the twelve months ended December 31,
2006 and 2005 are as follows:
(Dollars in thousands)
Core Deposit
Intangible
Mortgage
Servicing
Rights Other Total
Balance, January 1, 2005 $424,143 $482,392 $154,916 $1,061,451
Amortization (99,400) (166,482) (19,565) (285,447)
Servicing rights originated - 341,694 - 341,694
Lighthouse Partners client relationships and
noncompete agreements - - 11,119 11,119
Sale of Carswell of Carolina, Inc. - - (5,850) (5,850)
Balance, December 31, 2005 $324,743 $657,604 $140,620 $1,122,967
Amortization (84,214) (195,627) (19,012) (298,853)
Servicing rights originated - 503,801 - 503,801
Community Bank of Florida branch acquisition 1,085 - - 1,085
Reclass investment to trading assets - - (1,050) (1,050)
Purchase of AMA, LLC minority shares - - 5,072 5,072
Sale/securitization of mortgage servicing rights - (155,269) - (155,269)
Issuance of noncompete agreement - - 4,231 4,231
Balance, December 31, 2006 $241,614 $810,509 $129,861 $1,181,984
The estimated amortization expense for intangible assets, excluding amortization of mortgage servicing
rights, for the full year 2007 and the subsequent years is as follows:
(Dollars in thousands)
Core Deposit
Intangible Other Total
2007 $68,959 $18,912 $87,871
2008 53,616 16,983 70,599
2009 36,529 13,796 50,325
2010 28,781 12,277 41,058
2011 22,552 9,465 32,017
Thereafter 31,177 58,428 89,605
Total $241,614 $129,861 $371,475
Note 10 - Other Short-Term Borrowings
Other short-term borrowings as of December 31 include:
2006 2005
(Dollars in thousands) Balance Rates Balance Rates
Federal funds purchased maturing in over one day $1,006,000 5.27% $725,000 4.23%
Master notes 744,524 4.58 441,112 3.45
U.S. Treasury demand notes 205,278 4.92 440,412 3.96
Other 106,834 various 331,100 various
Total other short-term borrowings $2,062,636 $1,937,624
95