Table of Contents
Summary............................................................................................ 3
Sorting out the stress test ................................................................ 7
Credit cycle in the early stage ........................................................ 13
Normalized EPS—Before and after capital raises......................... 15
1Q09 earnings recap........................................................................ 18
Bank-by-bank highlights ................................................................. 20
Bank of America............................................................................... 21
BB&T................................................................................................. 22
Comerica .......................................................................................... 23
Fifth Third......................................................................................... 24
First Horizon..................................................................................... 25
Huntington ....................................................................................... 26
KeyCorp............................................................................................ 27
M&T Bank......................................................................................... 28
Marshall & Ilsley .............................................................................. 29
PNC................................................................................................... 30
Regions............................................................................................. 31
SunTrust........................................................................................... 32
TCF Financial.................................................................................... 33
US Bancorp ...................................................................................... 34
Wells Fargo ...................................................................................... 35
Zions ................................................................................................. 36