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SunTrust to Purchase Eleven of Community Bank's Wal-Mart Branches in Florida

Acquisition Enhances SunTrust Position in Key Markets

PRNewswire-FirstCall
ATLANTA
Dec 5, 2005

SunTrust Banks, Inc. today announced that it has signed a definitive agreement with Community Bank of Florida under which SunTrust will acquire 11 of Community Bank's in-store branches in Wal-Mart locations in Florida. The branches -- three in Tampa, seven in Central Florida and one in North Florida -- have a combined $42 million in deposits, 43 employees, and more than 8,000 customer accounts. Terms of the transaction were not disclosed.

"The addition of these branches leverages SunTrust's existing position in these high-growth markets," said Thomas G. Kuntz, president and CEO of SunTrust Bank, Florida. "Building upon the success of our Wal-Mart partnership, these branches allow SunTrust to attract new clients, as well as offer our existing customers additional convenience when doing their banking business."

The acquired branches will be integrated into SunTrust's existing Florida banking organization, which currently encompasses 473 branches, including 32 branches in Wal-Mart Super Centers, throughout the State. SunTrust noted that it expects to offer employment to qualified Community Bank employees currently working in the branches.

"This transaction will allow a re-focusing of resources," said Bob Epling, president and CEO of Community Bank. "Building upon our long-term community banking philosophy, we will improve all aspects of customer service in South Dade, the Keys and the Lakeland/Haines City markets."

Conversion of customer accounts is expected to take place coincident with the transaction closing late in the first quarter of 2006. SunTrust plans an extensive customer communication effort prior to any changes being implemented. As an illustration of its customer orientation, SunTrust will waive its ATM usage fee for Community Bank of Florida customers beginning on December 6 and lasting through the transition.

About Community Bank

Community Bank of Florida, headquartered in Homestead, serves nearly 25,000 clients in South Dade, the Keys and the Lakeland/Haines City areas. With assets of $450 million, the company is a full-service commercial bank, located in many of Florida's fastest growing markets.

About SunTrust

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2005, SunTrust had total assets of $172.4 billion and total deposits of $113.7 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides credit cards, mortgage banking, insurance, brokerage, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

SOURCE: SunTrust Banks, Inc.

CONTACT: Investors, Greg Ketron, +1-404-827-6714, or Media, Mike McCoy,
+1-404-588-7230, or Susie Findell, +1-407-237-2455, all of SunTrust Banks,
Inc.