Exhibit 99.2

 

 

 

 

 

BB&T Corporation

Quarterly Performance Summary

First Quarter 2013

 

 

 

BB&T Corporation
Quarterly Performance Summary
Table of Contents
		Page
Financial Highlights		1
Financial Highlights - Five Quarter Trend		2
Consolidated Statements of Income		3
Consolidated Statements of Income - Five Quarter Trend		4
Lines of Business Financial Performance		5
Lines of Business Financial Performance - Five Quarter Trend		6
Consolidated Balance Sheets		8
Consolidated Balance Sheets - Five Quarter Trend		9
Average Balance Sheets		10
Average Balance Sheets - Five Quarter Trend		11
Average Balances and Rates - Quarters		12
Credit Quality		14
Credit Quality - Supplemental Information		17
Capital Information - Five Quarter Trend		18
Selected Items & Additional Information		19
Non-GAAP Reconciliations		20

 

BB&T Corporation
Financial Highlights
(Dollars in millions, except per share data, shares in thousands)
		Year-to-Date
		March 31								%
		2013				2012				Change
Summary Income Statement
Interest income		$	1,697			$	1,780			(4.7)	%
Interest expense			238				307			(22.5)
	Net interest income - taxable equivalent		1,459				1,473			(1.0)
Less:  Taxable-equivalent adjustment			37				37			―
	Net interest income		1,422				1,436			(1.0)
Provision for credit losses			272				288			(5.6)
	Net interest income after provision for credit losses		1,150				1,148			0.2
Noninterest income			1,001				871			14.9
Noninterest expense			1,414				1,385			2.1
Income before income taxes			737				634			16.2
Provision for income taxes			481				189			154.5
	Net income		256				445			(42.5)
Noncontrolling interests			16				14			14.3
Preferred stock dividends			30				―			NM
	Net income available to common shareholders		210				431			(51.3)
Per Common Share Data
Earnings:
	Basic	$	0.30			$	0.62			(51.6)	%
	Diluted		0.29				0.61			(52.5)
Cash dividends declared			0.23				0.20			15.0
Book value			27.15				25.51			6.4
Tangible book value (1)			17.56				17.12			2.6
End of period shares outstanding			701,440				698,454			0.4
Weighted average shares:
	Basic		700,275				697,685			0.4
	Diluted		711,020				707,369			0.5
Performance Ratios
Return on average assets			0.57	%			1.03	%
Return on average common shareholders' equity			4.44				9.75
Return on average tangible common shareholders' equity (2)			7.87				15.88
Net interest margin - taxable equivalent			3.76				3.93
Fee income ratio (3)			42.9				41.0
Efficiency ratio (3)			56.4				52.0
Credit Quality (including covered assets)
Nonperforming assets as a percentage of:
	Total assets		0.91	%			1.50	%
	Loans and leases plus foreclosed property		1.39				2.35
Net charge-offs as a percentage of average
	loans and leases		1.00				1.28
Allowance for loan and lease losses as a percentage
	of loans and leases held for investment		1.73				2.02
Ratio of allowance for loan and lease losses to
	nonperforming loans and leases held for investment		1.54	X			1.18	X
Average Balances
Total assets		$	181,358			$	173,969			4.2	%
Total securities (4)			36,801				36,589			0.6
Loans and leases			116,981				110,403			6.0
Deposits			130,437				124,606			4.7
Common shareholders' equity			19,138				17,772			7.7
Total shareholders' equity			21,315				17,829			19.6
Period-End Balances
Total assets		$	180,837			$	174,752			3.5	%
Total securities (4)			37,289				37,865			(1.5)
Loans and leases			117,628				110,686			6.3
Deposits			131,352				124,157			5.8
Common shareholders' equity			19,048				17,820			6.9
Total shareholders' equity			21,229				17,882			18.7
Capital Ratios (5)
Risk-based (6):
	Tier 1		10.8	%			12.0	%
	Total		13.6				15.3
Leverage			8.3				9.1
Tangible common equity (1)			7.1				7.1
Tier 1 common equity to risk-weighted assets (1)(6)			9.2				9.4
Applicable ratios are annualized.
(1)	Tangible book value per common share, tangible common equity and Tier 1 common equity ratios are non-GAAP measures.  BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios.  See the calculations and management's reasons for using these measures in the Capital Information - Five Quarter Trend section of this supplement.
(2)	Return on average tangible common shareholders' equity is a non-GAAP measure. See the calculation and management's reasons for using this measure in the Non-GAAP Reconciliations section of this supplement.
(3)	Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impacts of FDIC loss share accounting, and other selected items as detailed in the Selected Items & Additional Information section of this supplement. See the Non-GAAP Reconciliations section of this supplement for further detail.
(4)	Total securities includes securities available for sale (AFS) and securities held to maturity (HTM). Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.
(5)	Regulatory capital information is preliminary.
(6)	In the first quarter of 2013, BB&T revised its calculation of risk-weighted assets and has adjusted the affected ratios previously presented.
NM - Not meaningful.

 

BB&T Corporation
Financial Highlights - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)
		Quarter Ended
		March 31				Dec. 31				Sept. 30				June 30				March 31
		2013				2012				2012				2012				2012
Summary Income Statement
Interest income		$	1,697			$	1,763			$	1,758			$	1,767			$	1,780
Interest expense			238				250				238				267				307
	Net interest income - taxable equivalent		1,459				1,513				1,520				1,500				1,473
Less:  Taxable-equivalent adjustment			37				37				37				38				37
	Net interest income		1,422				1,476				1,483				1,462				1,436
Provision for credit losses			272				252				244				273				288
	Net interest income after provision for credit losses		1,150				1,224				1,239				1,189				1,148
Noninterest income			1,001				1,020				963				966				871
Noninterest expense			1,414				1,488				1,529				1,426				1,385
Income before income taxes			737				756				673				729				634
Provision for income taxes			481				207				177				191				189
	Net income		256				549				496				538				445
Noncontrolling interests			16				13				2				20				14
Preferred stock dividends			30				30				25				8				―
	Net income available to common shareholders		210				506				469				510				431
Per Common Share Data
Earnings:
	Basic	$	0.30			$	0.72			$	0.67			$	0.73			$	0.62
	Diluted		0.29				0.71				0.66				0.72				0.61
Cash dividends declared			0.23				0.20				0.20				0.20				0.20
Book value			27.15				27.21				26.88				26.19				25.51
Tangible book value (1)			17.56				17.52				17.02				16.92				17.12
End of period shares outstanding			701,440				699,728				699,541				698,795				698,454
Weighted average shares:
	Basic		700,275				699,586				699,091				698,579				697,685
	Diluted		711,020				710,190				709,875				708,454				707,369
Performance Ratios
Return on average assets			0.57	%			1.20	%			1.10	%			1.22	%			1.03	%
Return on average common shareholders' equity			4.44				10.51				9.94				11.21				9.75
Return on average tangible common shareholders' equity (2)			7.87				17.80				17.01				18.85				15.88
Net interest margin - taxable equivalent			3.76				3.84				3.94				3.95				3.93
Fee income ratio (3)			42.9				44.1				42.4				42.4				41.0
Efficiency ratio (3)			56.4				55.3				55.2				53.9				52.0
Credit Quality (including covered assets)
Nonperforming assets as a percentage of:
	Total assets		0.91	%			0.97	%			1.10	%			1.24	%			1.50	%
	Loans and leases plus foreclosed property		1.39				1.51				1.70				1.93				2.35
Net charge-offs as a percentage of average
	loans and leases		1.00				1.02				1.05				1.21				1.28
Allowance for loan and lease losses as a percentage
	of loans and leases held for investment		1.73				1.76				1.80				1.91				2.02
Ratio of allowance for loan and lease losses to
	nonperforming loans and leases held for investment		1.54	X			1.46	X			1.33	X			1.29	X			1.18	X
Average Balances
Total assets		$	181,358			$	182,204			$	179,306			$	176,870			$	173,969
Total securities (4)			36,801				36,383				35,260				37,114				36,589
Loans and leases			116,981				117,103				115,609				111,760				110,403
Deposits			130,437				131,762				128,695				125,348				124,606
Common shareholders' equity			19,138				19,160				18,757				18,302				17,772
Total shareholders' equity			21,315				21,188				20,125				18,737				17,829
Period-End Balances
Total assets		$	180,837			$	183,872			$	182,021			$	178,529			$	174,752
Total securities (4)			37,289				38,731				37,238				37,643				37,865
Loans and leases			117,628				118,364				117,607				113,811				110,686
Deposits			131,352				133,075				130,018				126,059				124,157
Common shareholders' equity			19,048				19,042				18,800				18,300				17,820
Total shareholders' equity			21,229				21,223				20,532				18,926				17,882
Capital Ratios (5)
Risk-based (6):
	Tier 1		10.8	%			10.7	%			10.2	%			9.6	%			12.0	%
	Total		13.6				13.6				13.2				12.7				15.3
Leverage			8.3				8.2				7.9				7.3				9.1
Tangible common equity (1)			7.1				6.9				6.8				6.9				7.1
Tier 1 common equity to risk-weighted assets (1)(6)			9.2				9.1				8.9				9.1				9.4
Applicable ratios are annualized.
(1)	Tangible book value per common share, tangible common equity and Tier 1 common equity ratios are non-GAAP measures.  BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios.  See the calculations and management's reasons for using these measures in the Capital Information - Five Quarter Trend section of this supplement.
(2)	Return on average tangible common shareholders' equity is a non-GAAP measure. See the calculation and management's reasons for using this measure in the Non-GAAP Reconciliations section of this supplement.
(3)	Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impacts of FDIC loss share accounting, and other selected items as detailed in the Selected Items & Additional Information section of this supplement. See the Non-GAAP Reconciliations section of this supplement for further detail.
(4)	Total securities includes securities available for sale (AFS) and securities held to maturity (HTM). Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.
(5)	Regulatory capital information is preliminary.
(6)	In the first quarter of 2013, BB&T revised its calculation of risk-weighted assets and has adjusted the affected ratios previously presented.

 

BB&T Corporation
Consolidated Statements of Income
(Dollars in millions, except per share data, shares in thousands)
			Year-to-Date
			March 31						Change
			2013			2012			$		%
Interest Income
	Interest and fees on loans and leases		$	1,433		$	1,502		$	(69)	(4.6)	%
	Interest and dividends on securities			215			234			(19)	(8.1)
	Interest on other earning assets			11			7			4	57.1
		Total interest income		1,659			1,743			(84)	(4.8)
Interest Expense
	Interest on deposits			86			121			(35)	(28.9)
	Interest on federal funds purchased, securities sold under
		repurchase agreements and short-term borrowed funds		1			1			―	―
	Interest on long-term debt			150			185			(35)	(18.9)
		Total interest expense		237			307			(70)	(22.8)
Net interest income				1,422			1,436			(14)	(1.0)
	Provision for credit losses			272			288			(16)	(5.6)
Net interest income after provision for credit losses				1,150			1,148			2	0.2
Noninterest income
	Insurance income			365			271			94	34.7
	Mortgage banking income			180			216			(36)	(16.7)
	Service charges on deposits			138			137			1	0.7
	Investment banking and brokerage fees and commissions			94			89			5	5.6
	Bankcard fees and merchant discounts			59			54			5	9.3
	Checkcard fees			47			43			4	9.3
	Trust and investment advisory revenues			48			45			3	6.7
	Income from bank-owned life insurance			28			30			(2)	(6.7)
	FDIC loss share income, net			(59)			(57)			(2)	3.5
	Securities gains (losses), net			23			(9)			32	NM
	Other income			78			52			26	50.0
		Total noninterest income		1,001			871			130	14.9
Noninterest Expense
	Personnel expense			817			730			87	11.9
	Occupancy and equipment expense			171			153			18	11.8
	Loan-related expense			58			63			(5)	(7.9)
	Foreclosed property expense			18			92			(74)	(80.4)
	Regulatory charges			35			41			(6)	(14.6)
	Professional services			36			35			1	2.9
	Software expense			38			32			6	18.8
	Amortization of intangibles			27			22			5	22.7
	Merger-related and restructuring charges, net			5			12			(7)	(58.3)
	Other expense			209			205			4	2.0
		Total noninterest expense		1,414			1,385			29	2.1
Earnings
	Income before income taxes			737			634			103	16.2
	Provision for income taxes			481			189			292	154.5
		Net Income		256			445			(189)	(42.5)
	Noncontrolling interests			16			14			2	14.3
	Preferred stock dividends			30			―			30	NM
		Net income available to common shareholders	$	210		$	431		$	(221)	(51.3)	%
Earnings Per Common Share
		Basic	$	0.30		$	0.62		$	(0.32)	(51.6)	%
		Diluted		0.29			0.61			(0.32)	(52.5)
Weighted Average Shares Outstanding
		Basic		700,275			697,685			2,590	0.4
		Diluted		711,020			707,369			3,651	0.5
NM - not meaningful.

 

BB&T Corporation
Consolidated Statements of Income - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)
			Quarter Ended
			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Interest Income
	Interest and fees on loans and leases		$	1,433		$	1,494		$	1,492		$	1,492		$	1,502
	Interest and dividends on securities			215			222			221			230			234
	Interest on other earning assets			11			10			7			6			7
		Total interest income		1,659			1,726			1,720			1,728			1,743
Interest Expense
	Interest on deposits			86			96			105			107			121
	Interest on federal funds purchased, securities sold under
		repurchase agreements and short-term borrowed funds		1			2			2			2			1
	Interest on long-term debt			150			152			130			157			185
		Total interest expense		237			250			237			266			307
Net interest income				1,422			1,476			1,483			1,462			1,436
	Provision for credit losses			272			252			244			273			288
Net interest income after provision for credit losses				1,150			1,224			1,239			1,189			1,148
Noninterest income
	Insurance income			365			362			333			393			271
	Mortgage banking income			180			231			211			182			216
	Service charges on deposits			138			149			142			138			137
	Investment banking and brokerage fees and commissions			94			98			90			88			89
	Bankcard fees and merchant discounts			59			61			62			59			54
	Checkcard fees			47			49			48			45			43
	Trust and investment advisory revenues			48			47			46			46			45
	Income from bank-owned life insurance			28			29			30			27			30
	FDIC loss share income, net			(59)			(97)			(90)			(74)			(57)
	Securities gains (losses), net			23			―			(1)			(2)			(9)
	Other income			78			91			92			64			52
		Total noninterest income		1,001			1,020			963			966			871
Noninterest Expense
	Personnel expense			817			823			797			775			730
	Occupancy and equipment expense			171			172			166			159			153
	Loan-related expense			58			73			85			62			63
	Foreclosed property expense			18			48			54			72			92
	Regulatory charges			35			35			40			43			41
	Professional services			36			46			36			39			35
	Software expense			38			38			36			32			32
	Amortization of intangibles			27			28			31			29			22
	Merger-related and restructuring charges, net			5			11			43			2			12
	Other expense			209			214			241			213			205
		Total noninterest expense		1,414			1,488			1,529			1,426			1,385
Earnings
	Income before income taxes			737			756			673			729			634
	Provision for income taxes			481			207			177			191			189
		Net Income		256			549			496			538			445
	Noncontrolling interests			16			13			2			20			14
	Preferred stock dividends			30			30			25			8			―
		Net income available to common shareholders	$	210		$	506		$	469		$	510		$	431
Earnings Per Common Share
		Basic	$	0.30		$	0.72		$	0.67		$	0.73		$	0.62
		Diluted		0.29			0.71			0.66			0.72			0.61
Weighted Average Shares Outstanding
		Basic		700,275			699,586			699,091			698,579			697,685
		Diluted		711,020			710,190			709,875			708,454			707,369

 

BB&T Corporation

Lines of Business Financial Performance (1)

Quarter Ended March 31, 2013 and 2012

(Dollars in millions)

Residential

Dealer

Community Banking

Mortgage Banking

Financial Services

Specialized Lending

March 31

March 31

Percent

March 31

March 31

Percent

March 31

March 31

Percent

March 31

March 31

Percent

2013

2012

Change

2013

2012

Change

2013

2012

Change

2013

2012

Change

Net interest income (expense)				$	524		$	506		3.6	%		$	299		$	278		7.6	%		$	205		$	210		(2.4)	%		$	174		$	167		4.2	%
Net intersegment interest income
	(expense)				290			340		(14.7)				(191)			(189)		1.1				(41)			(54)		(24.1)				(32)			(38)		(15.8)
Segment net interest income					814			846		(3.8)				108			89		21.3				164			156		5.1				142			129		10.1
Allocated provision for loan
	and lease losses				80			254		(68.5)				19			(22)		(186.4)				67			27		148.1				51			26		96.2
Noninterest income					278			268		3.7				161			195		(17.4)				2			2		―				54			53		1.9
Intersegment net referral fees
	(expense)				49			40		22.5				―			(1)		(100.0)				―			―		―				―			―		―
Noninterest expense					429			487		(11.9)				70			85		(17.6)				27			26		3.8				63			64		(1.6)
Amortization of intangibles					10			9		11.1				―			―		―				―			―		―				1			1		―
Allocated corporate expenses					258			257		0.4				17			14		21.4				7			9		(22.2)				16			19		(15.8)
Income (loss) before income taxes					364			147		147.6				163			206		(20.9)				65			96		(32.3)				65			72		(9.7)
Provision (benefit) for income
	taxes				134			52		157.7				62			78		(20.5)				25			37		(32.4)				13			15		(13.3)
Segment net income (loss)				$	230		$	95		142.1			$	101		$	128		(21.1)			$	40		$	59		(32.2)			$	52		$	57		(8.8)
Identifiable segment assets
	(period end)			$	62,397		$	60,674		2.8			$	28,673		$	25,288		13.4			$	10,566		$	10,050		5.1			$	18,311		$	16,896		8.4
																						Other, Treasury									Total BB&T
				Insurance Services									Financial Services									& Corporate (2)									Corporation
				March 31			March 31			Percent			March 31			March 31			Percent			March 31			March 31			Percent			March 31			March 31			Percent
				2013			2012			Change			2013			2012			Change			2013			2012			Change			2013			2012			Change
Net interest income (expense)				$	1		$	1		―	%		$	34		$	28		21.4	%		$	185		$	246		(24.8)	%		$	1,422		$	1,436		(1.0)	%
Net intersegment interest income
	(expense)				1			1		―				80			82		(2.4)				(107)			(142)		(24.6)				―			―		―
Segment net interest income					2			2		―				114			110		3.6				78			104		(25.0)				1,422			1,436		(1.0)
Allocated provision for loan
	and lease losses				―			―		―				8			16		(50.0)				47			(13)		NM				272			288		(5.6)
Noninterest income					366			270		35.6				175			178		(1.7)				(35)			(95)		(63.2)				1,001			871		14.9
Intersegment net referral fees
	(expense)				―			―		―				8			6		33.3				(57)			(45)		26.7				―			―		―
Noninterest expense					288			212		35.8				151			154		(1.9)				359			335		7.2				1,387			1,363		1.8
Amortization of intangibles					15			10		50.0				1			1		―				―			1		(100.0)				27			22		22.7
Allocated corporate expenses					23			19		21.1				24			22		9.1				(345)			(340)		1.5				―			―		―
Income (loss) before income taxes					42			31		35.5				113			101		11.9				(75)			(19)		NM				737			634		16.2
Provision (benefit) for income
	taxes				12			8		50.0				42			38		10.5				193			(39)		NM				481			189		154.5
Segment net income (loss)				$	30		$	23		30.4			$	71		$	63		12.7			$	(268)		$	20		NM			$	256		$	445		(42.5)
Identifiable segment assets
	(period end)			$	3,160		$	2,310		36.8			$	10,213		$	7,859		30.0			$	47,517		$	51,675		(8.0)			$	180,837		$	174,752		3.5
(1)	Lines of business results are preliminary.
(2)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
NM	- not meaningful.

 

 

BB&T Corporation
Lines of Business Financial Performance - Five Quarter Trend (1)
(Dollars in millions)
			Quarter Ended
Community Banking			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	524		$	537		$	525		$	516		$	506
Net intersegment interest income (expense)				290			310			315			326			340
	Segment net interest income			814			847			840			842			846
Allocated provision for loan and lease losses				80			130			91			190			254
Noninterest income				278			295			281			279			268
Intersegment net referral fees (expense)				49			54			49			45			40
Noninterest expense				429			464			428			447			487
Amortization of intangibles				10			10			8			10			9
Allocated corporate expenses				258			257			256			255			257
	Income (loss) before income taxes			364			335			387			264			147
	Provision (benefit) for income taxes			134			123			142			96			52
		Segment net income (loss)	$	230		$	212		$	245		$	168		$	95
Identifiable segment assets (period end)			$	62,397		$	62,846		$	61,319		$	60,986		$	60,674
			Quarter Ended
Residential Mortgage Banking			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	299		$	299		$	286		$	286		$	278
Net intersegment interest income (expense)				(191)			(198)			(193)			(192)			(189)
	Segment net interest income			108			101			93			94			89
Allocated provision for loan and lease losses				19			56			23			38			(22)
Noninterest income				161			206			190			162			195
Intersegment net referral fees (expense)				―			―			―			―			(1)
Noninterest expense				70			100			112			92			85
Amortization of intangibles				―			―			―			―			―
Allocated corporate expenses				17			13			14			13			14
	Income (loss) before income taxes			163			138			134			113			206
	Provision (benefit) for income taxes			62			52			51			43			78
		Segment net income (loss)	$	101		$	86		$	83		$	70		$	128
Identifiable segment assets (period end)			$	28,673		$	29,391		$	28,615		$	27,318		$	25,288
			Quarter Ended
Dealer Financial Services			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	205		$	210		$	214		$	210		$	210
Net intersegment interest income (expense)				(41)			(44)			(48)			(50)			(54)
	Segment net interest income			164			166			166			160			156
Allocated provision for loan and lease losses				67			67			43			27			27
Noninterest income				2			2			1			2			2
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				27			27			24			24			26
Amortization of intangibles				―			―			1			―			―
Allocated corporate expenses				7			9			8			10			9
	Income (loss) before income taxes			65			65			91			101			96
	Provision (benefit) for income taxes			25			25			35			38			37
		Segment net income (loss)	$	40		$	40		$	56		$	63		$	59
Identifiable segment assets (period end)			$	10,566		$	10,264		$	10,316		$	10,303		$	10,050
			Quarter Ended
Specialized Lending			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	174		$	179		$	181		$	174		$	167
Net intersegment interest income (expense)				(32)			(31)			(34)			(36)			(38)
	Segment net interest income			142			148			147			138			129
Allocated Provision for loan and lease losses				51			24			62			23			26
Noninterest income				54			66			58			52			53
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				63			69			66			58			64
Amortization of intangibles				1			1			1			2			1
Allocated corporate expenses				16			21			20			19			19
	Income (loss) before income taxes			65			99			56			88			72
	Provision (benefit) for income taxes			13			26			9			20			15
		Segment Net income (loss)	$	52		$	73		$	47		$	68		$	57
Identifiable segmentassets (period end)			$	18,311		$	18,907		$	18,650		$	18,140		$	16,896
(1)	Lines of business results are preliminary.

 

BB&T Corporation
Lines of Business Financial Performance - Five Quarter Trend (1)
(Dollars in millions)
			Quarter Ended
Insurance Services			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	1		$	1		$	1		$	―		$	1
Net intersegment interest income (expense)				1			1			1			1			1
	Segment net interest income			2			2			2			1			2
Allocated provision for loan and lease losses				―			―			―			―			―
Noninterest income				366			368			334			393			270
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				288			272			272			260			212
Amortization of intangibles				15			16			18			17			10
Allocated corporate expenses				23			23			20			20			19
	Income (loss) before income taxes			42			59			26			97			31
	Provision (benefit) for income taxes			12			21			10			31			8
		Segment net income (loss)	$	30		$	38		$	16		$	66		$	23
Identifiable segment assets (period end)			$	3,160		$	3,297		$	3,090		$	3,299		$	2,310
			Quarter Ended
Financial Services			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	34		$	32		$	31		$	30		$	28
Net intersegment interest income (expense)				80			87			86			83			82
	Segment net interest income			114			119			117			113			110
Allocated provision for loan and lease losses				8			(8)			13			(8)			16
Noninterest income				175			197			183			169			178
Intersegment net referral fees (expense)				8			10			7			6			6
Noninterest expense				151			163			153			172			154
Amortization of intangibles				1			1			―			1			1
Allocated corporate expenses				24			23			25			23			22
	Income (loss) before income taxes			113			147			116			100			101
	Provision (benefit) for income taxes			42			56			44			37			38
		Segment net income (loss)	$	71		$	91		$	72		$	63		$	63
Identifiable segment assets (period end)			$	10,213		$	9,283		$	9,088		$	8,312		$	7,859
			Quarter Ended
Other, Treasury & Corporate (2)			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	185		$	218		$	245		$	246		$	246
Net intersegment interest income (expense)				(107)			(125)			(127)			(132)			(142)
	Segment net interest income			78			93			118			114			104
Allocated provision for loan and lease losses				47			(17)			12			3			(13)
Noninterest income				(35)			(114)			(84)			(91)			(95)
Intersegment net referral fees (expense)				(57)			(64)			(56)			(51)			(45)
Noninterest expense				359			365			443			344			335
Amortization of intangibles				―			―			3			(1)			1
Allocated corporate expenses				(345)			(346)			(343)			(340)			(340)
	Income (loss) before income taxes			(75)			(87)			(137)			(34)			(19)
	Provision (benefit) for income taxes			193			(96)			(114)			(74)			(39)
		Segment net income (loss)	$	(268)		$	9		$	(23)		$	40		$	20
Identifiable segment assets (period end)			$	47,517		$	49,884		$	50,943		$	50,171		$	51,675
			Quarter Ended
Total BB&T Corporation			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Net interest income (expense)			$	1,422		$	1,476		$	1,483		$	1,462		$	1,436
Net intersegment interest income (expense)				―			―			―			―			―
	Segment net interest income			1,422			1,476			1,483			1,462			1,436
Allocated provision for loan and lease losses				272			252			244			273			288
Noninterest income				1,001			1,020			963			966			871
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				1,387			1,460			1,498			1,397			1,363
Amortization of intangibles				27			28			31			29			22
Allocated corporate expenses				―			―			―			―			―
	Income (loss) before income taxes			737			756			673			729			634
	Provision (benefit) for income taxes			481			207			177			191			189
		Segment net income (loss)	$	256		$	549		$	496		$	538		$	445
Identifiable segment assets (period end)			$	180,837		$	183,872		$	182,021		$	178,529		$	174,752
(1)	Lines of business results are preliminary.
(2)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

 

BB&T Corporation
Consolidated Balance Sheets
(Dollars in millions)
				As of March 31						Change
				2013			2012			$			%
Assets
	Cash and due from banks			$	1,322		$	1,336		$	(14)		(1.0)	%
	Interest-bearing deposits with banks				1,588			2,464			(876)		(35.6)
	Federal funds sold and securities purchased under
		resale agreements or similar arrangements			302			252			50		19.8
	Segregated cash due from banks				2			20			(18)		(90.0)
	Trading securities at fair value				627			589			38		6.5
	Securities available for sale at fair value (1)				24,170			24,380			(210)		(0.9)
	Securities held to maturity				13,119			13,485			(366)		(2.7)
	Loans and leases:
		Commercial loans and leases:
			Commercial and industrial		38,429			36,156			2,273		6.3
			Commercial real estate—other		11,425			10,543			882		8.4
			Commercial real estate—residential ADC (2)		1,175			1,823			(648)		(35.5)
		Direct retail lending			15,767			14,897			870		5.8
		Sales finance loans			8,114			7,587			527		6.9
		Revolving credit loans			2,284			2,159			125		5.8
		Residential mortgage loans			23,954			21,513			2,441		11.3
		Other lending subsidiaries			10,043			8,951			1,092		12.2
			Total loans and leases held for investment (excluding covered loans)		111,191			103,629			7,562		7.3
		Covered loans			3,005			4,532			(1,527)		(33.7)
			Total loans and leases held for investment		114,196			108,161			6,035		5.6
		Loans held for sale			3,432			2,525			907		35.9
			Total loans and leases		117,628			110,686			6,942		6.3
	Allowance for loan and lease losses				(1,975)			(2,181)			206		(9.4)
	FDIC loss share receivable				368			949			(581)		(61.2)
	Premises and equipment				1,880			1,822			58		3.2
	Goodwill				6,823			6,077			746		12.3
	Core deposit and other intangible assets				647			422			225		53.3
	Residential mortgage servicing rights at fair value				735			696			39		5.6
	Other assets (3)				13,601			13,755			(154)		(1.1)
		Total assets		$	180,837		$	174,752		$	6,085		3.5	%
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits		$	33,236		$	27,410		$	5,826		21.3	%
		Interest checking			20,175			20,318			(143)		(0.7)
		Money market and savings			49,088			46,759			2,329		5.0
		Certificates and other time deposits			28,853			29,648			(795)		(2.7)
		Foreign office deposits - interest-bearing			―			22			(22)		(100.0)
			Total deposits		131,352			124,157			7,195		5.8
	Fed funds purchased, repos and other borrowings				3,239			3,436			(197)		(5.7)
	Long-term debt				18,316			22,768			(4,452)		(19.6)
	Other liabilities				6,701			6,509			192		2.9
		Total liabilities			159,608			156,870			2,738		1.7
	Shareholders' equity:
		Preferred stock			2,116			―			2,116		NM
		Common stock			3,507			3,492			15		0.4
		Additional paid-in capital			5,975			5,880			95		1.6
		Retained earnings			10,178			9,064			1,114		12.3
		Accumulated other comprehensive loss			(612)			(616)			4		(0.6)
		Noncontrolling interests			65			62			3		4.8
		Total shareholders' equity			21,229			17,882			3,347		18.7
		Total liabilities and shareholders' equity		$	180,837		$	174,752		$	6,085		3.5	%
(1)	Includes covered securities of $1.6 billion and $1.6 billion at March 31, 2013 and 2012, respectively.
(2)	Commercial real estate - residential ADC represents residential acquisition, development and construction loans.
(3)	Includes $273 million and $403 million of covered foreclosed property and covered other assets at March 31, 2013 and 2012, respectively.
NM - not meaningful.

 

BB&T Corporation
Consolidated Balance Sheets - Five Quarter Trend
(Dollars in millions)
				As of
				March 31			Dec. 31			Sept. 30			June 30			March 31
				2013			2012			2012			2012			2012
Assets
	Cash and due from banks			$	1,322		$	1,972		$	1,557		$	1,409		$	1,336
	Interest-bearing deposits with banks				1,588			1,659			1,784			2,246			2,464
	Federal funds sold and securities purchased under
		resale agreements or similar arrangements			302			122			162			212			252
	Segregated cash due from banks				2			36			3			4			20
	Trading securities at fair value				627			497			572			533			589
	Securities available for sale at fair value (1)				24,170			25,137			24,098			25,067			24,380
	Securities held to maturity				13,119			13,594			13,140			12,576			13,485
	Loans and leases:
		Commercial loans and leases:
			Commercial and industrial		38,429			38,295			38,012			36,938			36,156
			Commercial real estate—other		11,425			11,461			10,913			10,457			10,543
			Commercial real estate—residential ADC		1,175			1,261			1,454			1,590			1,823
		Direct retail lending			15,767			15,817			15,710			15,183			14,897
		Sales finance loans			8,114			7,736			7,723			7,794			7,587
		Revolving credit loans			2,284			2,330			2,291			2,206			2,159
		Residential mortgage loans			23,954			24,272			24,293			23,117			21,513
		Other lending subsidiaries			10,043			10,137			10,056			9,835			8,951
			Total loans and leases held for investment (excluding covered loans)		111,191			111,309			110,452			107,120			103,629
		Covered loans			3,005			3,294			3,688			3,955			4,532
			Total loans and leases held for investment		114,196			114,603			114,140			111,075			108,161
		Loans held for sale			3,432			3,761			3,467			2,736			2,525
			Total loans and leases		117,628			118,364			117,607			113,811			110,686
	Allowance for loan and lease losses				(1,975)			(2,018)			(2,051)			(2,126)			(2,181)
	FDIC loss share receivable				368			479			656			831			949
	Premises and equipment				1,880			1,888			1,940			1,816			1,822
	Goodwill				6,823			6,804			6,718			6,428			6,077
	Core deposit and other intangible assets				647			673			718			683			422
	Residential mortgage servicing rights at fair value				735			627			563			578			696
	Other assets (2)				13,601			14,038			14,554			14,461			13,755
		Total assets		$	180,837		$	183,872		$	182,021		$	178,529		$	174,752
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits		$	33,236		$	32,452		$	30,810		$	28,664		$	27,410
		Interest checking			20,175			21,091			20,182			20,228			20,318
		Money market and savings			49,088			47,908			48,099			46,611			46,759
		Certificates and other time deposits			28,853			31,624			30,927			30,556			29,648
		Foreign office deposits - interest-bearing			―			―			―			―			22
			Total deposits		131,352			133,075			130,018			126,059			124,157
	Fed funds purchased, repos and other borrowings				3,239			2,864			3,093			3,196			3,436
	Long-term debt				18,316			19,114			19,221			22,561			22,768
	Other liabilities				6,701			7,596			9,157			7,787			6,509
		Total liabilities			159,608			162,649			161,489			159,603			156,870
	Shareholders' equity:
		Preferred stock			2,116			2,116			1,679			559			―
		Common stock			3,507			3,499			3,498			3,494			3,492
		Additional paid-in capital			5,975			5,973			5,950			5,914			5,880
		Retained earnings			10,178			10,129			9,761			9,433			9,064
		Accumulated other comprehensive loss			(612)			(559)			(409)			(541)			(616)
		Noncontrolling interests			65			65			53			67			62
		Total shareholders' equity			21,229			21,223			20,532			18,926			17,882
		Total liabilities and shareholders' equity		$	180,837		$	183,872		$	182,021		$	178,529		$	174,752
(1)	Includes covered securities of $1.6 billion at each date presented.
(2)	Includes $273 million, $297 million, $327 million, $349 million and $403 million of covered foreclosed property and covered other assets at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.

 

BB&T Corporation
Average Balance Sheets
(Dollars in millions)
					Year-to-Date
					March 31						Change
					2013			2012			$			%
Assets
	Securities, at amortized cost (1):
		U.S. government-sponsored entities (GSE)			$	4,522		$	820		$	3,702		NM	%
		Mortgage-backed securities issued by GSE				28,540			31,742			(3,202)		(10.1)
		States and political subdivisions				1,837			1,858			(21)		(1.1)
		Non-agency mortgage-backed securities				300			411			(111)		(27.0)
		Other securities				477			532			(55)		(10.3)
		Covered securities				1,125			1,226			(101)		(8.2)
			Total securities			36,801			36,589			212		0.6
	Other earning assets					2,838			3,502			(664)		(19.0)
	Loans and leases:
		Commercial loans and leases:
			Commercial and industrial			37,916			36,021			1,895		5.3
			Commercial real estate—other			11,422			10,678			744		7.0
			Commercial real estate—residential ADC			1,238			1,989			(751)		(37.8)
		Direct retail lending				15,757			14,712			1,045		7.1
		Sales finance loans				7,838			7,516			322		4.3
		Revolving credit loans				2,279			2,175			104		4.8
		Residential mortgage loans				23,618			21,056			2,562		12.2
		Other lending subsidiaries				9,988			8,668			1,320		15.2
			Total loans and leases held for investment
				(excluding covered loans)		110,056			102,815			7,241		7.0
		Covered loans				3,133			4,672			(1,539)		(32.9)
			Total loans and leases held for investment			113,189			107,487			5,702		5.3
		Loans held for sale				3,792			2,916			876		30.0
			Total loans and leases			116,981			110,403			6,578		6.0
				Total earning assets		156,620			150,494			6,126		4.1
	Nonearning assets					24,738			23,475			1,263		5.4
	Total assets				$	181,358		$	173,969		$	7,389		4.2	%
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits			$	32,518		$	26,173		$	6,345		24.2	%
		Interest checking				20,169			19,712			457		2.3
		Money market and savings				48,431			45,667			2,764		6.1
		Certificates and other time deposits				28,934			32,942			(4,008)		(12.2)
		Foreign office deposits - interest-bearing				385			112			273		NM
			Total deposits			130,437			124,606			5,831		4.7
	Fed funds purchased, repos and other borrowings					4,217			3,452			765		22.2
	Long-term debt					18,690			21,720			(3,030)		(14.0)
	Other liabilities					6,699			6,362			337		5.3
			Total liabilities			160,043			156,140			3,903		2.5
	Shareholders' equity					21,315			17,829			3,486		19.6
	Total liabilities and shareholders' equity				$	181,358		$	173,969		$	7,389		4.2	%
Average balances exclude basis adjustments for fair value hedges.
(1)	Includes securities available for sale and securities held to maturity.
NM - not meaningful.

 

BB&T Corporation
Average Balance Sheets - Five Quarter Trend
(Dollars in millions)
					Quarter Ended
					March 31			Dec. 31			Sept. 30			June 30			March 31
					2013			2012			2012			2012			2012
Assets
	Securities, at amortized cost (1):
		U.S. government-sponsored entities (GSE)			$	4,522		$	3,436		$	1,078		$	1,054		$	820
		Mortgage-backed securities issued by GSE				28,540			29,162			30,338			32,176			31,742
		States and political subdivisions				1,837			1,841			1,848			1,857			1,858
		Non-agency mortgage-backed securities				300			312			325			338			411
		Other securities				477			487			500			498			532
		Covered securities				1,125			1,145			1,171			1,191			1,226
			Total securities			36,801			36,383			35,260			37,114			36,589
	Other earning assets					2,838			3,377			3,049			3,511			3,502
	Loans and leases:
		Commercial loans and leases:
			Commercial and industrial			37,916			38,022			37,516			36,293			36,021
			Commercial real estate—other			11,422			11,032			10,823			10,578			10,678
			Commercial real estate—residential ADC			1,238			1,398			1,534			1,744			1,989
		Direct retail lending				15,757			15,767			15,520			15,071			14,712
		Sales finance loans				7,838			7,724			7,789			7,690			7,516
		Revolving credit loans				2,279			2,280			2,234			2,178			2,175
		Residential mortgage loans				23,618			23,820			23,481			22,114			21,056
		Other lending subsidiaries				9,988			10,051			9,998			9,370			8,668
			Total loans and leases held for investment (excluding covered loans)			110,056			110,094			108,895			105,038			102,815
		Covered loans				3,133			3,477			3,826			4,211			4,672
			Total loans and leases held for investment			113,189			113,571			112,721			109,249			107,487
		Loans held for sale				3,792			3,532			2,888			2,511			2,916
			Total loans and leases			116,981			117,103			115,609			111,760			110,403
				Total earning assets		156,620			156,863			153,918			152,385			150,494
	Nonearning assets					24,738			25,341			25,388			24,485			23,475
	Total assets				$	181,358		$	182,204		$	179,306		$	176,870		$	173,969
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits			$	32,518		$	31,849		$	29,990		$	27,643		$	26,173
		Interest checking				20,169			19,837			20,157			19,911			19,712
		Money market and savings				48,431			47,965			47,500			46,557			45,667
		Certificates and other time deposits				28,934			31,724			30,727			31,205			32,942
		Foreign office deposits - interest-bearing				385			387			321			32			112
			Total deposits			130,437			131,762			128,695			125,348			124,606
	Fed funds purchased, repos and other borrowings					4,217			3,340			3,478			3,362			3,452
	Long-term debt					18,690			18,689			19,682			22,544			21,720
	Other liabilities					6,699			7,225			7,326			6,879			6,362
		Total liabilities				160,043			161,016			159,181			158,133			156,140
	Shareholders' equity					21,315			21,188			20,125			18,737			17,829
	Total liabilities and shareholders' equity				$	181,358		$	182,204		$	179,306		$	176,870		$	173,969
Average balances exclude basis adjustments for fair value hedges.
(1)	Includes securities available for sale and securities held to maturity.

 

BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
					Quarter Ended
					March 31, 2013								December 31, 2012
					(1)			Interest		(2)			(1)			Interest		(2)
					Average			Income/		Yields/			Average			Income/		Yields/
					Balances			Expense		Rates			Balances			Expense		Rates
Assets
	Securities, at amortized cost (3):
		U.S. government-sponsored entities (GSE)			$	4,522		$	21	1.87	%		$	3,436		$	15	1.79	%
		Mortgage-backed securities issued by GSE				28,540			137	1.92				29,162			139	1.90
		States and political subdivisions				1,837			27	5.80				1,841			27	5.82
		Non-agency mortgage-backed securities				300			4	5.58				312			4	5.67
		Other securities				477			2	1.41				487			2	1.59
		Covered securities				1,125			37	13.18				1,145			48	16.53
			Total securities			36,801			228	2.48				36,383			235	2.58
	Other earning assets					2,838			12	1.64				3,377			10	1.16
	Loans and leases:
		Commercial loans and leases:
			Commercial and industrial			37,916			353	3.76				38,022			369	3.87
			Commercial real estate—other			11,422			107	3.81				11,032			106	3.82
			Commercial real estate—residential ADC			1,238			13	4.15				1,398			15	4.14
		Direct retail lending				15,757			184	4.73				15,767			191	4.80
		Sales finance loans				7,838			68	3.52				7,724			73	3.72
		Revolving credit loans				2,279			48	8.51				2,280			48	8.40
		Residential mortgage loans				23,618			251	4.26				23,820			251	4.23
		Other lending subsidiaries				9,988			267	10.84				10,051			271	10.73
			Total loans and leases held for investment
				(excluding covered loans)		110,056			1,291	4.74				110,094			1,324	4.79
		Covered loans				3,133			135	17.49				3,477			166	18.98
			Total loans and leases held for investment			113,189			1,426	5.09				113,571			1,490	5.22
		Loans held for sale				3,792			31	3.28				3,532			28	3.27
			Total loans and leases			116,981			1,457	5.03				117,103			1,518	5.16
				Total earning assets		156,620			1,697	4.37				156,863			1,763	4.48
	Nonearning assets					24,738								25,341
	Total assets				$	181,358							$	182,204
Liabilities and Shareholders' Equity
	Interest-bearing deposits:
		Interest checking			$	20,169			5	0.09			$	19,837			6	0.12
		Money market and savings				48,431			18	0.15				47,965			19	0.15
		Certificates and other time deposits				28,934			63	0.89				31,724			71	0.90
		Foreign office deposits - interest-bearing				385			―	0.12				387			―	0.13
			Total interest-bearing deposits			97,919			86	0.36				99,913			96	0.38
	Fed funds purchased, repos and other borrowings					4,217			2	0.18				3,340			2	0.27
	Long-term debt					18,690			150	3.23				18,689			152	3.24
		Total interest-bearing liabilities				120,826			238	0.79				121,942			250	0.82
	Noninterest-bearing deposits					32,518								31,849
	Other liabilities					6,699								7,225
	Shareholders' equity					21,315								21,188
	Total liabilities and shareholders' equity				$	181,358							$	182,204
	Average interest-rate spread									3.58								3.66
	Net interest income/ net interest margin							$	1,459	3.76	%					$	1,513	3.84	%
	Taxable-equivalent adjustment							$	37							$	37
Applicable ratios are annualized.
(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.
(3)	Includes securities available for sale and securities held to maturity.

 

BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
					Quarter Ended
					September 30, 2012								June 30, 2012								March 31, 2012
					(1)			Interest		(2)			(1)			Interest		(2)			(1)			Interest		(2)
					Average			Income/		Yields/			Average			Income/		Yields/			Average			Income/		Yields/
					Balances			Expense		Rates			Balances			Expense		Rates			Balances			Expense		Rates
Assets
	Securities, at amortized cost (3):
		U.S. government-sponsored entities (GSE)			$	1,078		$	4	1.42	%		$	1,054		$	4	1.45	%		$	820		$	3	1.54	%
		Mortgage-backed securities issued by GSE				30,338			151	2.00				32,176			160	1.98				31,742			174	2.20
		States and political subdivisions				1,848			27	5.83				1,857			27	5.85				1,858			27	5.84
		Non-agency mortgage-backed securities				325			5	5.55				338			5	5.76				411			6	5.98
		Other securities				500			2	1.65				498			2	1.70				532			2	1.64
		Covered securities				1,171			44	15.12				1,191			46	15.62				1,226			34	11.02
			Total securities			35,260			233	2.64				37,114			244	2.62				36,589			246	2.70
	Other earning assets					3,049			8	1.07				3,511			6	0.69				3,502			7	0.76
	Loans and leases:
		Commercial loans and leases:
			Commercial and industrial			37,516			367	3.89				36,293			366	4.06				36,021			362	4.04
			Commercial real estate—other			10,823			104	3.83				10,578			100	3.79				10,678			101	3.81
			Commercial real estate—residential ADC			1,534			14	3.78				1,744			16	3.67				1,989			18	3.58
		Direct retail lending				15,520			187	4.81				15,071			184	4.90				14,712			182	4.98
		Sales finance loans				7,789			75	3.85				7,690			77	4.03				7,516			80	4.27
		Revolving credit loans				2,234			47	8.39				2,178			45	8.35				2,175			46	8.51
		Residential mortgage loans				23,481			252	4.28				22,114			247	4.47				21,056			239	4.54
		Other lending subsidiaries				9,998			271	10.80				9,370			260	11.17				8,668			249	11.53
			Total loans and leases held for investment
				(excluding covered loans)		108,895			1,317	4.82				105,038			1,295	4.95				102,815			1,277	4.99
		Covered loans				3,826			175	18.21				4,211			200	19.01				4,672			224	19.32
			Total loans and leases held for investment			112,721			1,492	5.27				109,249			1,495	5.50				107,487			1,501	5.61
		Loans held for sale				2,888			25	3.35				2,511			22	3.51				2,916			26	3.62
			Total loans and leases			115,609			1,517	5.23				111,760			1,517	5.45				110,403			1,527	5.56
				Total earning assets		153,918			1,758	4.55				152,385			1,767	4.65				150,494			1,780	4.75
	Nonearning assets					25,388								24,485								23,475
	Total assets				$	179,306							$	176,870							$	173,969
Liabilities and Shareholders' Equity
	Interest-bearing deposits:
		Interest checking			$	20,157			7	0.12			$	19,911			6	0.12			$	19,712			6	0.13
		Money market and savings				47,500			22	0.19				46,557			22	0.19				45,667			22	0.19
		Certificates and other time deposits				30,727			76	0.99				31,205			79	1.02				32,942			93	1.13
		Foreign office deposits - interest-bearing				321			―	0.12				32			―	0.06				112			―	0.03
			Total interest-bearing deposits			98,705			105	0.42				97,705			107	0.44				98,433			121	0.49
	Fed funds purchased, repos and other borrowings					3,478			3	0.25				3,362			3	0.31				3,452			1	0.23
	Long-term debt					19,682			130	2.64				22,544			157	2.79				21,720			185	3.41
		Total interest-bearing liabilities				121,865			238	0.78				123,611			267	0.87				123,605			307	1.00
	Noninterest-bearing deposits					29,990								27,643								26,173
	Other liabilities					7,326								6,879								6,362
	Shareholders' equity					20,125								18,737								17,829
	Total liabilities and shareholders' equity				$	179,306							$	176,870							$	173,969
	Average interest-rate spread									3.77								3.78								3.75
	Net interest income/ net interest margin							$	1,520	3.94	%					$	1,500	3.95	%					$	1,473	3.93	%
	Taxable-equivalent adjustment							$	37							$	38							$	37
Applicable ratios are annualized.
(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.
(3)	Includes securities available for sale and securities held to maturity.

 

BB&T Corporation
Credit Quality
(Dollars in millions)
				As of
				March 31			Dec. 31			Sept. 30			June 30			March 31
				2013			2012			2012			2012			2012
Nonperforming assets (1)
	Nonaccrual loans and leases:
		Commercial loans and leases:
			Commercial and industrial	$	533		$	546		$	597		$	620		$	685
			Commercial real estate—other		188			212			259			301			312
			Commercial real estate—residential ADC		94			128			204			241			312
		Direct retail lending			127			132			134			133			139
		Sales finance loans			6			7			7			13			15
		Residential mortgage loans			255			269			266			263			320
		Other lending subsidiaries			80			86			73			76			60
			Total nonaccrual loans and leases held for investment		1,283			1,380			1,540			1,647			1,843
	Foreclosed real estate (2)				88			107			139			221			378
	Other foreclosed property				42			49			39			29			35
			Total nonperforming assets (excluding covered assets) (2)	$	1,413		$	1,536		$	1,718		$	1,897		$	2,256
Performing troubled debt restructurings (TDRs) (3)
		Commercial loans and leases:
			Commercial and industrial	$	54		$	77		$	66		$	62		$	76
			Commercial real estate—other		67			67			75			78			82
			Commercial real estate—residential ADC		24			21			25			28			30
		Direct retail lending			193			197			120			114			117
		Sales finance loans			19			19			7			7			7
		Revolving credit loans			55			56			58			58			61
		Residential mortgage loans (4)			715			769			646			636			589
		Other lending subsidiaries			162			121			77			69			53
			Total performing TDRs (4)(5)	$	1,289		$	1,327		$	1,074		$	1,052		$	1,015
Loans 90 days or more past due and still accruing
		Commercial loans and leases:
			Commercial and industrial	$	―		$	1		$	1		$	2		$	2
			Commercial real estate—other		―			―			―			―			1
		Direct retail lending			34			38			41			39			49
		Sales finance loans			7			10			11			11			13
		Revolving credit loans			14			16			14			13			14
		Residential mortgage loans (6)(7)			77			92			80			78			72
		Other lending subsidiaries			6			10			5			4			6
			Total loans 90 days past due and still accruing (excluding covered loans) (6)(7)(8)	$	138		$	167		$	152		$	147		$	157
Loans 30-89 days past due
		Commercial loans and leases:
			Commercial and industrial	$	34		$	42		$	41		$	53		$	62
			Commercial real estate—other		10			12			9			16			26
			Commercial real estate—residential ADC		2			2			8			9			8
		Direct retail lending			136			145			136			119			135
		Sales finance loans			42			56			53			49			50
		Revolving credit loans			20			23			21			20			20
		Residential mortgage loans (9)(10)			529			498			501			423			397
		Other lending subsidiaries			183			290			259			218			172
			Total loans 30-89 days past due (excluding covered loans) (9)(10)(11)	$	956		$	1,068		$	1,028		$	907		$	870
(1)	Covered loans are considered to be performing due to the application of the accretion method. Covered loans that are contractually past due are noted in the footnotes below.
(2)	Excludes covered foreclosed real estate totaling $232 million, $254 million, $289 million, $310 million and $364 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.
(3)	Excludes TDRs that are nonperforming totaling $222 million, $231 million, $225 million, $219 million and $263 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively. These amounts are included in total nonperforming assets.
(4)	Excludes mortgage TDRs that are government guaranteed totaling $338 million, $315 million, $275 million, $266 million and $242 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively. Includes mortgage TDRs held for sale.
(5)	During the fourth quarter of 2012, $226 million of performing loans were classified as TDRs in connection with recent regulatory guidance related to loans discharged in bankruptcy not reaffirmed by the borrower.
(6)	Excludes mortgage loans past due 90 days or more that are government guaranteed totaling $251 million, $254 million, $233 million, $217 million and $218 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively. Includes past due mortgage loans held for sale.
(7)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase that are past due 90 days or more totaling $514 million, $517 million, $499 million, $453 million and $439 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.
(8)	Excludes covered loans past due 90 days or more totaling $371 million, $442 million, $476 million, $613 million and $677 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.
(9)	Excludes mortgage loans past due 30-89 days that are government guaranteed totaling $95 million, $96 million, $95 million, $94 million and $82 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively. Includes past due mortgage loans held for sale.
(10)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase that are past due 30-89 days totaling $5 million, $5 million, $6 million, $5 million and $5 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.
(11)	Excludes covered loans past due 30-89 days totaling $120 million, $135 million, $173 million, $199 million and $258 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.

 

BB&T Corporation
Credit Quality
(Dollars in millions)
				As of/For the Quarter Ended
				March 31			Dec. 31			Sept. 30			June 30			March 31
				2013			2012			2012			2012			2012
Allowance for credit losses
	Beginning balance			$	2,048		$	2,096		$	2,157		$	2,221		$	2,285
	Provision for credit losses (excluding covered loans)				247			256			244			259			285
	Provision for covered loans				25			(4)			―			14			3
	Charge-offs:
		Commercial loans and leases:
			Commercial and industrial		(91)			(98)			(84)			(92)			(63)
			Commercial real estate—other		(36)			(41)			(40)			(51)			(73)
			Commercial real estate—residential ADC		(20)			(27)			(35)			(74)			(54)
		Direct retail lending			(42)			(54)			(57)			(56)			(57)
		Sales finance loans			(6)			(7)			(5)			(7)			(7)
		Revolving credit loans			(21)			(19)			(20)			(20)			(22)
		Residential mortgage loans			(33)			(29)			(35)			(30)			(42)
		Other lending subsidiaries			(68)			(60)			(58)			(47)			(60)
		Covered loans			(14)			(5)			(2)			(12)			(15)
			Total charge-offs		(331)			(340)			(336)			(389)			(393)
	Recoveries:
		Commercial loans and leases:
			Commercial and industrial		7			5			4			4			4
			Commercial real estate—other		4			4			3			3			3
			Commercial real estate—residential ADC		6			8			2			23			8
		Direct retail lending			8			9			9			8			10
		Sales finance loans			2			3			2			2			3
		Revolving credit loans			5			4			5			4			5
		Residential mortgage loans			1			1			―			1			1
		Other lending subsidiaries			9			6			6			7			7
			Total recoveries		42			40			31			52			41
	Net charge-offs				(289)			(300)			(305)			(337)			(352)
	Ending balance			$	2,031		$	2,048		$	2,096		$	2,157		$	2,221
Allowance for credit losses
	Allowance for loan and lease losses (excluding covered loans)			$	1,836		$	1,890		$	1,914		$	1,987		$	2,044
	Allowance for covered loans				139			128			137			139			137
	Reserve for unfunded lending commitments				56			30			45			31			40
		Total		$	2,031		$	2,048		$	2,096		$	2,157		$	2,221

 

BB&T Corporation
Credit Quality
			As of/For the Quarter Ended
			March 31			Dec. 31			Sept. 30			June 30			March 31
			2013			2012			2012			2012			2012
Asset Quality Ratios (including covered assets)
	Loans 30-89 days past due and still accruing as a
		percentage of total loans and leases (1)(2)	0.91	%		1.02	%		1.02	%		0.97	%		1.02	%
	Loans 90 days or more past due and still accruing
		as a percentage of total loans and leases (1)(2)	0.43			0.52			0.53			0.67			0.75
	Nonperforming loans and leases as a
		percentage of total loans and leases	1.09			1.17			1.31			1.45			1.67
	Nonperforming assets as a percentage of:
		Total assets	0.91			0.97			1.10			1.24			1.50
		Loans and leases plus foreclosed property	1.39			1.51			1.70			1.93			2.35
	Net charge-offs as a percentage of average loans and leases		1.00			1.02			1.05			1.21			1.28
	Allowance for loan and lease losses as a percentage of
		loans and leases held for investment	1.73			1.76			1.80			1.91			2.02
	Ratio of allowance for loan and lease losses to:
		Net charge-offs	1.69	X		1.69	X		1.69	X		1.57	X		1.54	X
		Nonperforming loans and leases held for investment	1.54			1.46			1.33			1.29			1.18
Asset Quality Ratios (excluding covered assets) (3)
	Loans 30-89 days past due and still accruing as a
		percentage of total loans and leases (1)(2)	0.83	%		0.93	%		0.90	%		0.83	%		0.82	%
	Loans 90 days or more past due and still accruing
		as a percentage of total loans and leases (1)(2)	0.12			0.15			0.13			0.13			0.15
	Nonperforming loans and leases as a
		percentage of total loans and leases	1.12			1.20			1.35			1.50			1.74
	Nonperforming assets as a percentage of:
		Total assets	0.80			0.85			0.97			1.09			1.33
		Loans and leases plus foreclosed property	1.23			1.33			1.51			1.72			2.12
	Net charge-offs as a percentage of average loans and leases		0.98			1.04			1.08			1.22			1.28
	Allowance for loan and lease losses as a percentage of
		loans and leases held for investment	1.65			1.70			1.73			1.86			1.97
	Ratio of allowance for loan and lease losses to:
		Net charge-offs	1.65	X		1.60	X		1.59	X		1.52	X		1.51	X
		Nonperforming loans and leases held for investment	1.43			1.37			1.24			1.21			1.11
Applicable ratios are annualized.
(1)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase. Refer to the footnotes in the Credit Quality section of this supplement for amounts related to these loans.
(2)	Excludes mortgage loans guaranteed by the government. Refer to the footnotes in the Credit Quality section of this supplement for amounts related to these loans.
(3)	These asset quality ratios have been adjusted to remove the impact of covered loans and covered foreclosed property.  Appropriate adjustments to the numerator and denominator have been reflected in the calculation of these ratios.  Management believes the inclusion of covered loans in certain asset quality ratios that include nonperforming assets, past due loans or net charge-offs in the numerator or denominator results in distortion of these ratios and they may not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting.

 

BB&T Corporation
Credit Quality - Supplemental Information
(Dollars in millions)
				As of March 31, 2013
												Past Due 30-89							Past Due 90+
				Current Status								Days							Days									Total
Performing TDRs: (1)
	Commercial loans:
		Commercial and industrial		$	53		98.1		%			$	1		1.9		%		$		―		―		%			$	54
		Commercial real estate—other			67		100.0						―		―						―		―						67
		Commercial real estate—residential ADC			24		100.0						―		―						―		―						24
	Direct retail lending				178		92.2						12		6.2						3		1.6						193
	Sales finance loans				17		89.4						1		5.3						1		5.3						19
	Revolving credit loans				45		81.8						5		9.1						5		9.1						55
	Residential mortgage loans (2)				599		83.8						102		14.3						14		1.9						715
	Other lending subsidiaries				145		89.5						17		10.5						―		―						162
		Total performing TDRs			1,128		87.5						138		10.7						23		1.8						1,289
Nonperforming TDRs (3)					53		23.9						31		14.0						138		62.1						222
		Total TDRs (2)		$	1,181		78.1		%			$	169		11.2		%		$		161		10.7		%			$	1,511
						Quarter Ended
						March 31				Dec. 31						Sept. 30						June 30				March 31
						2013				2012						2012						2012				2012
Net charge-offs as a percentage of average loans and leases:
	Commercial loans and leases:
		Commercial and industrial				0.89		%		0.97				%		0.85				%		0.97		%		0.66				%
		Commercial real estate—other				1.16				1.37						1.37						1.84				2.64
		Commercial real estate—residential ADC				4.40				5.36						8.40						11.74				9.37
	Direct retail lending					0.87				1.13						1.24						1.27				1.28
	Sales finance loans					0.20				0.20						0.16						0.24				0.23
	Revolving credit loans					2.93				2.65						2.63						3.05				3.12
	Residential mortgage loans					0.55				0.47						0.59						0.53				0.78
	Other lending subsidiaries					2.42				2.16						2.04						1.74				2.45
	Covered loans					1.77				0.50						0.28						1.11				1.29
		Total loans and leases (4)				1.00				1.02						1.05						1.21				1.28
		Total loans and leases, excluding covered loans (4)				0.98				1.04						1.08						1.22				1.28
Applicable ratios are annualized.
(1)	Past due performing TDRs are included in past due disclosures.
(2)	Excludes mortgage TDRs that are government guaranteed totaling $338 million.
(3)	Nonperforming TDRs are included in nonaccrual loan disclosures.
(4)	Total loans and leases includes loans held for sale.

 

BB&T Corporation
Capital Information - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)
				As of / Quarter Ended
			March 31				Dec. 31				Sept. 30				June 30				March 31
			2013				2012				2012				2012				2012
Selected Capital Information (1)
	Risk-based capital (2):
		Tier 1	$	14,432			$	14,373			$	13,593			$	12,383			$	15,207
		Total		18,300				18,243				17,638				16,527				19,438
	Risk-weighted assets (2)(3)			134,218				134,451				133,545				129,661				126,954
	Average quarterly tangible assets			174,214				175,015				172,100				170,042				167,771
	Risk-based capital ratios:
		Tier 1		10.8	%			10.7	%			10.2	%			9.6	%			12.0	%
		Total		13.6				13.6				13.2				12.7				15.3
	Leverage capital ratio			8.3				8.2				7.9				7.3				9.1
	Equity as a percentage of total assets			11.7				11.5				11.3				10.6				10.2
	Book value per common share		$	27.15			$	27.21			$	26.88			$	26.19			$	25.51
Selected non-GAAP Capital Information (4)
	Tangible common equity as a percentage of tangible assets			7.1	%			6.9	%			6.8	%			6.9	%			7.1	%
	Tier 1 common equity as a percentage of risk-weighted assets			9.2				9.1				8.9				9.1				9.4
	Tangible book value per common share		$	17.56			$	17.52			$	17.02			$	16.92			$	17.12
Calculations of Tier 1 common equity and tangible assets and related measures:
Tier 1 equity			$	14,432			$	14,373			$	13,593			$	12,383			$	15,207
Less:
	Preferred stock			2,116				2,116				1,679				559				―
	Qualifying restricted core capital elements			―				―				5				―				3,250
Tier 1 common equity			$	12,316			$	12,257			$	11,909			$	11,824			$	11,957
Total assets			$	180,837			$	183,872			$	182,021			$	178,529			$	174,752
Less:
	Intangible assets, net of deferred taxes			7,264				7,273				7,239				6,950				6,402
Plus:
	Regulatory adjustments, net of deferred taxes			275				212				81				239				327
Tangible assets			$	173,848			$	176,811			$	174,863			$	171,818			$	168,677
Total risk-weighted assets (2)(3)			$	134,218			$	134,451			$	133,545			$	129,661			$	126,954
Tangible common equity as a percentage of tangible assets				7.1	%			6.9	%			6.8	%			6.9	%			7.1	%
Tier 1 common equity as a percentage of risk-weighted assets				9.2				9.1				8.9				9.1				9.4
Tier 1 common equity			$	12,316			$	12,257			$	11,909			$	11,824			$	11,957
Outstanding shares at end of period				701,440				699,728				699,541				698,795				698,454
Tangible book value per common share			$	17.56			$	17.52			$	17.02			$	16.92			$	17.12
(1)	Regulatory capital information is preliminary.
(2)	In the first quarter of 2013, BB&T revised its calculation of risk-weighted assets and has adjusted the amounts and affected ratios previously presented.
(3)	Risk-weighted assets are determined based on regulatory capital requirements.  Under the regulatory framework for determining risk-weighted assets each asset class is assigned a risk-weighting of 0%, 20%, 50% or 100% based on the underlying risk of the specific asset class.  In addition, off-balance sheet exposures are first converted to a balance sheet equivalent amount and subsequently assigned to one of the four risk-weightings.
(4)	Tangible common equity and Tier 1 common equity ratios are non-GAAP measures.  BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios.  BB&T's management uses these measures to assess the quality of capital and believes that investors may find them useful in their analysis of the Corporation.  These capital measures are not necessarily comparable to similar capital measures that may be presented by other companies.

 

BB&T Corporation
Selected Items & Additional Information
(Dollars in millions, except per share data)
																Favorable (Unfavorable)
Selected Items																Pre-Tax				After-Tax
First Quarter 2013
	Income tax adjustment			Provision for income taxes													N/A			$	(281)
Fourth Quarter 2012
	None																N/A				N/A
Third Quarter 2012
	Mortgage repurchase expense adjustments (1)			Loan-related expense												$	(28)				(17)
Second Quarter 2012
	Leveraged lease tax benefit			Provision for income taxes													N/A				12
First Quarter 2012
	Tax related items, net (2)			Other noninterest income													(42)				(50)
	Leveraged lease write-downs			Other noninterest expense													(15)				(10)
				As of / Quarter Ended
				March 31				Dec. 31				Sept. 30				June 30				March 31
				2013				2012				2012				2012				2012
Selected Mortgage Banking Information
	Income statement impact of mortgage servicing rights valuation:
		MSRs fair value increase (decrease)		$	56			$	35			$	(29)			$	(132)			$	93
		MSRs hedge gains (losses)			(46)				(20)				49				152				(53)
			Net	$	10			$	15			$	20			$	20			$	40
	Residential mortgage loan originations			$	8,665			$	8,570			$	8,234			$	8,045			$	8,250
	Residential mortgage servicing portfolio (3):
		Loans serviced for others			76,830				73,769				72,343				71,389				70,318
		Bank-owned loans serviced			26,877				27,501				27,194				26,171				24,308
			Total servicing portfolio		103,707				101,270				99,537				97,560				94,626
	Weighted-average coupon rate				4.45	%			4.59	%			4.71	%			4.81	%			4.89	%
	Weighted-average servicing fee				0.312				0.319				0.322				0.327				0.332
Selected Miscellaneous Information
	Derivatives notional amount			$	75,702			$	72,796			$	81,049			$	76,592			$	68,805
	Fair value of derivatives				(85)				13				(47)				(52)				(78)
	Accumulated comprehensive income related to securities,
		net of tax (4)			255				329				357				216				134
	Common stock prices:
		High			31.78				33.89				34.37				32.74				31.94
		Low			29.83				26.86				30.41				27.40				25.26
		End of period			31.39				29.11				33.16				30.85				31.39
	Banking offices				1,842				1,832				1,851				1,774				1,773
	ATMs				2,851				2,826				2,750				2,511				2,436
	FTEs				33,952				33,981				34,006				32,998				31,185
(1)	Related to better identification of unrecoverable costs associated with investor-owned loans.
(2)	Includes write-downs of investments in affordable housing and other tax adjustments.
(3)	Amounts reported are unpaid principal balance.
(4)	Includes the impact of the FDIC loss sharing agreements on the covered securities.

 

BB&T Corporation
Non-GAAP Reconciliations
(Dollars in millions, except per share data, shares in thousands)
		Quarter Ended
		March 31			Dec. 31			Sept. 30			June 30			March 31
Efficiency and Fee Income Ratios (1)		2013			2012			2012			2012			2012
Efficiency ratio - GAAP		57.5	%		58.8	%		61.6	%		57.9	%		59.0	%
	Effect of securities gains (losses), net	0.5			―			―			―			(0.2)
	Effect of merger-related and restructuring charges, net	(0.2)			(0.5)			(1.7)			(0.1)			(0.5)
	Effect of mortgage repurchase expense adjustments	―			―			(1.1)			―			―
	Effect of FDIC loss share accounting	0.5			(0.1)			―			0.2			0.1
	Effect of affordable housing investments write-down	―			―			―			―			(1.0)
	Effect of foreclosed property expense	(0.8)			(1.9)			(2.2)			(2.9)			(3.9)
	Effect of leveraged lease sale/write-downs	―			―			―			―			(0.6)
	Effect of amortization of intangibles	(1.1)			(1.0)			(1.4)			(1.2)			(0.9)
Efficiency ratio - reported		56.4			55.3			55.2			53.9			52.0
Fee income ratio - GAAP		40.7	%		40.3	%		38.8	%		39.2	%		37.1	%
	Effect of securities gains (losses), net	(0.5)			―			―			―			0.2
	Effect of affordable housing investments write-down	―			―			―			―			1.1
	Effect of FDIC loss share accounting	2.7			3.8			3.6			3.2			2.6
Fee income ratio - reported		42.9			44.1			42.4			42.4			41.0

 

				Quarter Ended
			March 31				Dec. 31				Sept. 30				June 30				March 31
Return on Average Tangible Common Shareholders' Equity (2)			2013				2012				2012				2012				2012
Net income available to common shareholders			$	210			$	506			$	469			$	510			$	431
Plus:
	Amortization of intangibles, net of tax			17				17				19				18				14
Tangible net income available to common shareholders			$	227			$	523			$	488			$	528			$	445
Average common shareholders' equity			$	19,138			$	19,160			$	18,757			$	18,302			$	17,772
Less:
	Average intangible assets			7,464				7,463				7,341				7,031				6,510
Average tangible common shareholders' equity			$	11,674			$	11,697			$	11,416			$	11,271			$	11,262
Return on average tangible common shareholders' equity				7.87	%			17.80	%			17.01	%			18.85	%			15.88	%

 

  

 

 

											Quarter Ended March 31, 2013
Certain Performance Measures (1)											As Reported				Tax Adjustment Impact				Excluding Tax Adjustment
Net income available to common shareholders											$	210			$	281			$	491
Weighted average number of diluted common shares												711,020				―				711,020
Diluted EPS											$	0.29							$	0.69
Net income											$	256			$	281			$	537
Average assets												181,358				100				181,458
Return on average assets												0.57	%							1.20	%
Net income available to common shareholders											$	210			$	281			$	491
Average common shareholders' equity												19,138				100				19,238
Return on average common shareholders' equity												4.44	%							10.34	%
Tangible net income available to common shareholders											$	227			$	281			$	508
Average tangible common shareholders' equity												11,674				100				11,774
Return on average tangible common shareholders' equity												7.87	%							17.48	%
															March 31				Dec. 31
Basel III Estimates Based on Proposed U.S. Rules (3)															2013				2012
Tier 1 common equity under Basel 1															$	12,316			$	12,257
Adjustments:
	Other comprehensive income related to AFS securities and defined benefit pension and other OPEB plans															(445)				(385)
	Other adjustments															(67)				(9)
Estimated Tier 1 common equity under Basel III definition															$	11,804			$	11,863
Estimated risk-weighted assets under Basel III definition															$	150,719			$	151,526
Estimated Tier 1 common equity as a percentage of risk-weighted assets under Basel III definition																7.8	%			7.8	%
(1)	BB&T's management uses these measures in their analysis of the Corporation's performance.  BB&T's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.
(2)	BB&T's management believes investors use this measure to evaluate the return on average common shareholders' equity without the impact of intangible assets and their related amortization.
(3)	Regulatory capital information is preliminary.  During the first quarter of 2013, BB&T revised its calculation of risk-weighted assets and has adjusted the amounts and ratios previously presented.

 

 

 

 

 

 

 

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