SunTrust Banks, Inc. announced that the Federal Reserve Board has completed its review of the Company's capital plan submitted in connection with the 2018 Comprehensive Capital Analysis and Review and has no objections to the Company's planned capital actions. The capital actions, subject to the approval of SunTrust's Board of Directors and anticipated to cover four quarters, include:

• A 25% increase in the quarterly common stock dividend from $0.40 per share to $0.50 per share, beginning in the third quarter of 2018;

• Authorization to repurchase $2.0 billion of outstanding common stock between July 1, 2018 and June 30, 2019 (a 52% increase compared to the previous authorization);

• Maintaining dividend payments on the Company's preferred stock.

"This represents the seventh consecutive year in which our owners will benefit from an increase in capital returns. The 39% increase in total capital returns is enabled by our strong capital position, improved risk profile, and continued growth in earnings," said William H. Rogers, Jr., chairman and CEO of SunTrust Banks, Inc. "This performance, coupled with the momentum we have in growing revenue and improving profitability, continues to generate long-term value for our owners, teammates, clients, and communities."