SunTrust 2009 Annual Report Download - page 94

Table 23 – Share Repurchases in 2009
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
programs3
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 - - - 30,000,000 - - - -
February 1-28 - - - 30,000,000 - - - -
March 1-31 - - - 30,000,000 - - - -
Total first quarter 2009 - - - - - - -
April 1-30 - - - 30,000,000 - - - -
May 1-31 - - - 30,000,000 - - - -
June 1-30 - - - 30,000,000 12,569,104 17.50 12,569,104 10,000,000 4
Total second quarter 2009 - - - 12,569,104 17.50 12,569,104 10,000,000
July 1-31 - - - 30,000,000 530,470 15.39 530,470 9,469,530 4
August 1-31 - - - 30,000,000 - - - -
September 1-30 - - - 30,000,000 - - - -
Total third quarter 2009 - - - 530,470 15.39 530,470 9,469,530
October 1-31 - - - 30,000,000 - - - -
November 1-30 - - - 30,000,000 - - - -
December 1-31 - - - 30,000,000 - - - -
Total fourth quarter 2009 - - - - - - -
Total year-to-date 2009 - - - 13,099,574 17.41 13,099,574 9,469,530
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. On June 30, 2009, the Company repurchased a portion of its Series A preferred stock as part of a publicly announced tender offer dated June 1, 2009. The tender offer
represented an acceleration of the Company’s previously announced capital plan framework to increase its Tier 1 common equity in response to the Federal Reserve’s Supervisory Capital
Assessment Program. The Company repurchased $314.2 million face amount of preferred stock at $17.50 per share ($25 par value), which equates to 12,569,104 Depositary Shares. On July 28,
2009, the Company repurchased an additional $13.3 million face amount of preferred stock at $15.39 per share ($25 par value), which equates to 530,470 Depositary Shares. As of December 31,
2009, 6,900,426 Depositary Shares remain outstanding.
2Includes 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, 2009, zero shares of SunTrust common stock were surrendered by participants in SunTrust’s employee stock option plans.
3On August 14, 2007, the Board of Directors authorized the Company to repurchase up to 30 million shares of common stock and specified that such authorization replaced (terminated) existing
unused authorizations.
4The Company may repurchase up to $250 million face amount of various tranches of its hybrid capital securities, including its Series A Preferred Stock. The amount disclosed reflects the
maximum number of Series A Preferred Shares which the Company may repurchase under this authority assuming it is used solely to repurchase Series A Preferred Stock.
Table 24 – 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
2009 $3,303.1 0.13 % $4,153.0 0.19 % $6,313.6
2008 4,313.4 0.22 7,583.1 1.72 11,820.4
2007 9,179.5 3.69 9,398.7 4.68 13,285.1
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.
Table 25 – Maturity of Consumer Time and Other Time Deposits in Amounts of $100,000 or More
At December 31, 2009
(Dollars in millions)
Consumer
Time
Brokered
Time
Foreign
Time
Other
Time Total
Months to maturity:
3 or less $2,954.6 $2,006.6 $1,328.6 $104.9 $6,394.7
Over 3 through 6 2,115.4 20.5 - - 2,135.9
Over 6 through 12 3,583.4 49.9 - - 3,633.3
Over 12 2,351.9 2,154.5 - - 4,506.4
Total $11,005.3 $4,231.5 $1,328.6 $104.9 $16,670.3
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