SunTrust 2006 Annual Report Download - page 82

Download and view the complete annual report

Please find page 82 of the 2006 SunTrust annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 159

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159

TABLE 22 - Share Repurchases in 2006
Common Stock Series A Preferred Stock Depositary Shares1
Total
number of
shares
purchased2
Average
price
paid per
share
Number of
shares
purchased as
part of
publicly
announced
plans or
programs
Maximum
number of
shares that
may yet be
purchased
under the
plans or
programs 3,4
Total
number of
shares
purchased
Average
price
paid per
share
Number of
shares
purchased as
part of
publicly
announced
plans or
programs
Maximum
number of
shares that
may yet be
purchased
under the
plans or
programs
January 1-31 280,693 $71.63 265,000 2,987,796 N/A N/A N/A N/A
February 1-28 1,275,102 70.62 1,270,000 1,717,796 N/A N/A N/A N/A
March 1-31 8,619 74.96 - 10,000,000 N/A N/A N/A N/A
Total first quarter 2006 1,564,414 $70.82 1,535,000 N/A N/A N/A N/A
April 1-30 9,339 $73.76 - 10,000,000 N/A N/A N/A N/A
May 1-31 15,068 76.69 - 10,000,000 N/A N/A N/A N/A
June 1-30 4,797 76.58 - 10,000,000 N/A N/A N/A N/A
Total second quarter 2006 29,204 $75.73 - N/A N/A N/A N/A
July 1-31 8,784 $77.95 - 10,000,000 N/A N/A N/A N/A
August 1-31 1,642,860 76.68 1,640,000 8,360,000 N/A N/A N/A N/A
September 1-30 8,025 76.79 - 8,360,000 - - - -
Total third quarter 2006 1,659,669 $76.69 1,640,000 - - - -
October 1-31 9,933,775 $77.75 9,926,589 48,360,000 - - - -
November 1-30 19,679 81.53 - 8,360,000 - - - -
December 1-31 8,100 83.88 - 8,360,000 - - - -
Total fourth quarter 2006 9,961,554 $77.76 9,926,589 - - - -
Total 2006 13,214,841 $76.80 13,101,589 - - - -
1On September 12, 2006, SunTrust issued and registered under Section 12(b) of the Exchange Act 20 million Depositary Shares, each representing a 1/4,000th interest in a share
of Perpetual Preferred Stock, Series A.
2This figure includes shares repurchased pursuant to SunTrust’s employee stock option plans, pursuant to which participants may pay the exercise price upon exercise of SunTrust
stock options by surrendering shares of SunTrust common stock which the participant already owns. SunTrust considers shares so surrendered by participants in SunTrust’s
employee stock option plans to be repurchased pursuant to the authority and terms of the applicable stock option plan rather than pursuant to publicly announced share repurchase
programs. For the twelve months ended December 31, 2006, the following shares of SunTrust common stock were surrendered by participants in SunTrust’s employee stock
option plans: 15,693 shares in January, 2006 at an average price per share of $74.08; 5,102 shares in February, 2006 at an average price per share of $72.43; 8,619 shares in March,
2006 at an average price per share of $74.96; 9,339 shares in April, 2006 at an average price per share of $73.76; 15,068 shares in May, 2006 at an average price per share of
$76.69; 4,797 shares in June, 2006 at an average price per share of $76.58; 8,784 shares in July, 2006 at an average price per share of $77.95; 2,860 shares in August, 2006 at an
average price per share of $78.54; 8,025 shares in September, 2006 at an average price per share of $76.79; 7,186 shares in October, 2006 at an average price per share of $78.43;
19,679 shares in November, 2006 at an average price of $81.53; and 8,100 shares in December, 2006 at an average price per share of $83.88.
3Effective April 1, 2006, the Board of Directors authorized the purchase of up to 10 million shares of SunTrust common stock and terminated (effective March 31, 2006) the
remaining authority to repurchase shares under the prior authorizations made on June 13, 2001 and November 12, 2002. There is no expiration date for this authorization. The
Company has not determined to terminate the program and no programs expired during the period covered by the table.
4The 8,360,000 does not include a Board authorization in August 2006 to purchase a maximum of $1 billion or 13,333,334 shares of the Company’s Common Stock, of which
authority the Company has repurchased 9,926,589 shares.
TABLE 23 - Funds Purchased and Securities Sold Under Agreements to Repurchase1
As of December 31 Daily Average
Maximum
Outstanding
at Any
Month-end(Dollars in millions) Balance Rate Balance Rate
2006 $11,818.0 4.90 % $11,526.5 4.71 % $13,980.7
2005 10,374.5 3.88 10,331.3 3.02 12,610.5
2004 9,342.8 1.85 9,796.7 1.11 11,079.4
1Consists of federal funds purchased and securities sold under agreements to repurchase that mature overnight or at a fixed maturity generally not exceeding
three months. Rates on overnight funds reflect current market rates. Rates on fixed maturity borrowings are set at the time of borrowings.
69