Exhibit 99.2

 

 

 

 

 

 

 

 

BB&T Corporation

Quarterly Performance Summary

First Quarter 2014

 

 

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
Preliminary 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,								%
		2014				2013				Change
Summary Income Statement
Interest income		$	1,582			$	1,697			(6.8)	%
Interest expense			199				238			(16.4)
	Net interest income - taxable equivalent		1,383				1,459			(5.2)
Less:  Taxable-equivalent adjustment			36				37			(2.7)
	Net interest income		1,347				1,422			(5.3)
Provision for credit losses			60				272			(77.9)
	Net interest income after provision for credit losses		1,287				1,150			11.9
Noninterest income			911				1,001			(9.0)
Noninterest expense			1,403				1,414			(0.8)
Income before income taxes			795				737			7.9
Provision for income taxes			217				481			(54.9)
	Net income		578				256			125.8
Noncontrolling interests			40				16			150.0
Preferred stock dividends			37				30			23.3
	Net income available to common shareholders		501				210			138.6
Per Common Share Data
Earnings:
	Basic	$	0.70			$	0.30			133.3	%
	Diluted		0.69				0.29			137.9
Cash dividends declared			0.23				0.23			―
Common equity			29.03				27.15			6.9
Tangible common equity (1)			18.77				16.50			13.8
End of period shares outstanding			718,497				701,440			2.4
Weighted average shares:
	Basic		712,842				700,275			1.8
	Diluted		724,283				711,020			1.9
Performance Ratios
Return on average assets			1.29	%			0.57	%
Return on average risk-weighted assets			1.71				0.76
Return on average common shareholders' equity			9.87				4.44
Return on average tangible common shareholders' equity (2)			15.81				7.87
Net interest margin - taxable equivalent			3.52				3.76
Fee income ratio (3)			43.2				42.9
Efficiency ratio (3)			59.3				56.4
Credit Quality (including covered assets)
Nonperforming assets as a percentage of:
	Total assets		0.59	%			0.91	%
	Loans and leases plus foreclosed property		0.92				1.39
Net charge-offs as a percentage of average
	loans and leases		0.56				1.00
Allowance for loan and lease losses as a percentage
	of loans and leases held for investment		1.41				1.73
Ratio of allowance for loan and lease losses to
	nonperforming loans and leases held for investment		1.82	X			1.54	X
Average Balances
Total assets		$	182,397			$	182,013			0.2	%
Total securities (4)			40,117				36,801			9.0
Loans and leases			116,372				116,981			(0.5)
Deposits			125,718				130,437			(3.6)
Common shareholders' equity			20,610				19,138			7.7
Shareholders' equity			23,264				21,315			9.1
Period-End Balances
Total assets		$	184,651			$	181,504			1.7	%
Total securities (4)			41,308				37,289			10.8
Loans and leases			117,632				117,628			―
Deposits			127,476				131,352			(3.0)
Common shareholders' equity			20,859				19,048			9.5
Shareholders' equity			23,556				21,229			11.0
Capital Ratios - Preliminary
Risk-based:
	Tier 1 common equity to risk-weighted assets (1)		10.2	%			9.1	%
	Tier 1		12.1				10.6
	Total		14.6				13.5
	Basel III common equity Tier 1, estimated (1)		10.0				8.8
Leverage			9.5				8.3
Tangible common equity to tangible assets (1)			7.6				6.7
Applicable ratios are annualized.
(1)	Tangible common equity per common share, tangible common equity to tangible assets, Tier 1 common equity to risk-weighted assets and Basel III common equity Tier 1 ratios are non-GAAP measures.  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.
(4)	Excludes trading securities. 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.

 

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
		2014				2013				2013				2013				2013
Summary Income Statement
Interest income		$	1,582			$	1,601			$	1,676			$	1,680			$	1,697
Interest expense			199				204				222				228				238
	Net interest income - taxable equivalent		1,383				1,397				1,454				1,452				1,459
Less:  Taxable-equivalent adjustment			36				35				37				37				37
	Net interest income		1,347				1,362				1,417				1,415				1,422
Provision for credit losses			60				60				92				168				272
	Net interest income after provision for credit losses		1,287				1,302				1,325				1,247				1,150
Noninterest income			911				985				905				1,046				1,001
Noninterest expense			1,403				1,456				1,471				1,496				1,414
Income before income taxes			795				831				759				797				737
Provision for income taxes			217				243				450				221				481
	Net income		578				588				309				576				256
Noncontrolling interests			40				14				4				16				16
Preferred stock dividends			37				37				37				13				30
	Net income available to common shareholders		501				537				268				547				210
Per Common Share Data
Earnings:
	Basic	$	0.70			$	0.76			$	0.38			$	0.78			$	0.30
	Diluted		0.69				0.75				0.37				0.77				0.29
Cash dividends declared			0.23				0.23				0.23				0.23				0.23
Common equity			29.03				28.52				27.59				27.51				27.15
Tangible common equity (1)			18.77				18.08				17.06				16.92				16.50
End of period shares outstanding (in thousands)			718,497				706,620				704,925				702,995				701,440
Weighted average shares (in thousands):
	Basic		712,842				705,485				704,134				702,082				700,275
	Diluted		724,283				717,671				716,101				712,861				711,020
Performance Ratios
Return on average assets			1.29	%			1.30	%			0.68	%			1.27	%			0.57	%
Return on average risk-weighted assets			1.71				1.70				0.89				1.68				0.76
Return on average common shareholders' equity			9.87				10.85				5.44				11.39				4.44
Return on average tangible common shareholders' equity (2)			15.81				17.91				9.33				19.12				7.87
Net interest margin - taxable equivalent			3.52				3.56				3.68				3.70				3.76
Fee income ratio (3)			43.2				43.5				41.6				44.6				42.9
Efficiency ratio (3)			59.3				59.9				60.1				57.6				56.4
Credit Quality (including covered assets)
Nonperforming assets as a percentage of:
	Total assets		0.59	%			0.64	%			0.72	%			0.79	%			0.91	%
	Loans and leases plus foreclosed property		0.92				1.00				1.10				1.23				1.39
Net charge-offs as a percentage of average
	loans and leases		0.56				0.48				0.48				0.74				1.00
Allowance for loan and lease losses as a percentage
	of loans and leases held for investment		1.41				1.49				1.59				1.64				1.73
Ratio of allowance for loan and lease losses to
	nonperforming loans and leases held for investment		1.82	X			1.85	X			1.78	X			1.66	X			1.54	X
Average Balances
Total assets		$	182,397			$	179,534			$	181,021			$	182,508			$	182,013
Total securities (4)			40,117				37,022				36,547				36,719				36,801
Loans and leases			116,372				117,001				118,265				117,852				116,981
Deposits			125,718				125,906				127,948				129,983				130,437
Common shareholders' equity			20,610				19,657				19,491				19,293				19,138
Total shareholders' equity			23,264				22,305				22,139				21,789				21,315
Period-End Balances
Total assets		$	184,651			$	183,010			$	181,708			$	183,392			$	181,504
Total securities (4)			41,308				40,205				36,394				38,228				37,289
Loans and leases			117,632				117,139				118,582				118,282				117,628
Deposits			127,476				127,475				127,484				131,079				131,352
Common shareholders' equity			20,859				20,156				19,446				19,337				19,048
Shareholders' equity			23,556				22,809				22,094				21,996				21,229
Capital Ratios - Preliminary
Risk-based:
	Tier 1 common equity to risk-weighted assets (1)		10.2	%			9.9	%			9.4	%			9.3	%			9.1	%
	Tier 1		12.1				11.8				11.3				11.1				10.6
	Total		14.6				14.3				13.9				13.9				13.5
	Basel III common equity Tier 1, estimated (1)		10.0				9.7				9.2				9.0				8.8
Leverage			9.5				9.3				9.0				8.8				8.3
Tangible common equity to tangible assets (1)			7.6				7.3				6.9				6.8				6.7
Applicable ratios are annualized.
(1)	Tangible common equity per share, tangible common equity to tangible assets, Tier 1 common equity to risk-weighted assets and Basel III common equity Tier 1 ratios are non-GAAP measures.  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, the gain on sale of subsidiary and other selected items as detailed in the Selected Items & Additional Information section of this supplement. See the Non-GAAP Reconciliations section.
(4)	Excludes trading securities. 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.

 

BB&T Corporation
Consolidated Statements of Income
(Dollars in millions, except per share data, shares in thousands)
				Year-to-Date
				March 31						Change
				2014			2013			$		%
Interest Income
	Interest and fees on loans and leases			$	1,295		$	1,433		$	(138)	(9.6)	%
	Interest and dividends on securities				236			215			21	9.8
	Interest on other earning assets				15			11			4	36.4
		Total interest income			1,546			1,659			(113)	(6.8)
Interest Expense
	Interest on deposits				60			86			(26)	(30.2)
	Interest on short-term borrowings				1			1			―	―
	Interest on long-term debt				138			150			(12)	(8.0)
		Total interest expense			199			237			(38)	(16.0)
Net interest income					1,347			1,422			(75)	(5.3)
	Provision for credit losses				60			272			(212)	(77.9)
Net interest income after provision for credit losses					1,287			1,150			137	11.9
Noninterest income
	Insurance income				427			365			62	17.0
	Service charges on deposits				143			138			5	3.6
	Mortgage banking income				74			180			(106)	(58.9)
	Investment banking and brokerage fees and commissions				88			94			(6)	(6.4)
	Bankcard fees and merchant discounts				62			59			3	5.1
	Trust and investment advisory revenues				54			48			6	12.5
	Checkcard fees				47			47			―	―
	Income from bank-owned life insurance				27			28			(1)	(3.6)
	FDIC loss share income, net				(84)			(59)			(25)	42.4
	Securities gains (losses), net				2			23			(21)	(91.3)
	Other income				71			78			(7)	(9.0)
		Total noninterest income			911			1,001			(90)	(9.0)
Noninterest Expense
	Personnel expense				782			817			(35)	(4.3)
	Occupancy and equipment expense				176			171			5	2.9
	Loan-related expense				69			58			11	19.0
	Professional services				33			36			(3)	(8.3)
	Software expense				43			38			5	13.2
	Regulatory charges				29			35			(6)	(17.1)
	Amortization of intangibles				23			27			(4)	(14.8)
	Foreclosed property expense				9			18			(9)	(50.0)
	Merger-related and restructuring charges, net				8			5			3	60.0
	Other expense				231			209			22	10.5
		Total noninterest expense			1,403			1,414			(11)	(0.8)
Earnings
	Income before income taxes				795			737			58	7.9
	Provision for income taxes				217			481			(264)	(54.9)
		Net Income			578			256			322	125.8
	Noncontrolling interests				40			16			24	150.0
	Preferred stock dividends				37			30			7	23.3
		Net income available to common shareholders		$	501		$	210		$	291	138.6	%
Earnings Per Common Share
		Basic		$	0.70		$	0.30		$	0.40	133.3	%
		Diluted			0.69			0.29			0.40	137.9
Weighted Average Shares Outstanding
		Basic			712,842			700,275			12,567	1.8
		Diluted			724,283			711,020			13,263	1.9

 

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
			2014			2013			2013			2013			2013
Interest Income
	Interest and fees on loans and leases		$	1,295		$	1,341		$	1,411		$	1,418		$	1,433
	Interest and dividends on securities			236			220			221			215			215
	Interest on other earning assets			15			5			7			10			11
		Total interest income		1,546			1,566			1,639			1,643			1,659
Interest Expense
	Interest on deposits			60			65			72			78			86
	Interest on short-term borrowings			1			1			1			3			1
	Interest on long-term debt			138			138			149			147			150
		Total interest expense		199			204			222			228			237
Net interest income				1,347			1,362			1,417			1,415			1,422
	Provision for credit losses			60			60			92			168			272
Net interest income after provision for credit losses				1,287			1,302			1,325			1,247			1,150
Noninterest income
	Insurance income			427			371			355			426			365
	Service charges on deposits			143			151			152			143			138
	Mortgage banking income			74			100			117			168			180
	Investment banking and brokerage fees and commissions			88			101			89			99			94
	Bankcard fees and merchant discounts			62			65			67			65			59
	Trust and investment advisory revenues			54			52			51			49			48
	Checkcard fees			47			50			51			51			47
	Income from bank-owned life insurance			27			32			27			26			28
	FDIC loss share income, net			(84)			(75)			(74)			(85)			(59)
	Securities gains (losses), net			2			5			―			23			23
	Other income			71			133			70			81			78
		Total noninterest income		911			985			905			1,046			1,001
Noninterest Expense
	Personnel expense			782			827			805			844			817
	Occupancy and equipment expense			176			174			177			170			171
	Loan-related expense			69			64			70			63			58
	Professional services			33			46			60			47			36
	Software expense			43			43			39			38			38
	Regulatory charges			29			33			40			35			35
	Amortization of intangibles			23			26			26			27			27
	Foreclosed property expense			9			11			14			12			18
	Merger-related and restructuring charges, net			8			10			4			27			5
	Other expense			231			222			236			233			209
		Total noninterest expense		1,403			1,456			1,471			1,496			1,414
Earnings
	Income before income taxes			795			831			759			797			737
	Provision for income taxes			217			243			450			221			481
		Net Income		578			588			309			576			256
	Noncontrolling interests			40			14			4			16			16
	Preferred stock dividends			37			37			37			13			30
		Net income available to common shareholders	$	501		$	537		$	268		$	547		$	210
Earnings Per Common Share
		Basic	$	0.70		$	0.76		$	0.38		$	0.78		$	0.30
		Diluted		0.69			0.75			0.37			0.77			0.29
Weighted Average Shares Outstanding
		Basic		712,842			705,485			704,134			702,082			700,275
		Diluted		724,283			717,671			716,101			712,861			711,020

 

BB&T Corporation
Lines of Business Financial Performance (1)(2)
Quarter Ended March 31, 2014 and 2013
(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
				2014			2013			Change			2014			2013			Change			2014			2013			Change			2014			2013			Change
Net interest income (expense)				$	424		$	422		0.5	%		$	378		$	401		(5.7)	%		$	202		$	205		(1.5)	%		$	138		$	174		(20.7)	%
Net intersegment interest income
	(expense)				299			353		(15.3)				(251)			(254)		(1.2)				(38)			(41)		(7.3)				(34)			(32)		6.3
Segment net interest income					723			775		(6.7)				127			147		(13.6)				164			164		―				104			142		(26.8)
Allocated provision for credit
	losses				16			117		(86.3)				(20)			(7)		185.7				73			67		9.0				9			51		(82.4)
Noninterest income					295			287		2.8				60			161		(62.7)				1			1		―				49			52		(5.8)
Intersegment net referral fees
	(expense)				26			54		(51.9)				1			―		NM				―			―		―				―			―		―
Noninterest expense					394			425		(7.3)				86			78		10.3				29			26		11.5				51			64		(20.3)
Amortization of intangibles					8			10		(20.0)				―			―		―				―			―		―				1			1		―
Allocated corporate expenses					284			260		9.2				21			16		31.3				7			7		―				14			16		(12.5)
Income (loss) before income taxes					342			304		12.5				101			221		(54.3)				56			65		(13.8)				78			62		25.8
Provision (benefit) for income
	taxes				125			111		12.6				38			84		(54.8)				21			25		(16.0)				19			12		58.3
Segment net income (loss)				$	217		$	193		12.4			$	63		$	137		(54.0)			$	35		$	40		(12.5)			$	59		$	50		18.0
Identifiable assets (period end)				$	55,288		$	55,690		(0.7)			$	36,050		$	36,965		(2.5)			$	11,823		$	10,566		11.9			$	16,146		$	16,653		(3.0)
																						Other, Treasury									Total BB&T
				Insurance Services									Financial Services									& Corporate (3)									Corporation
				March 31			March 31			Percent			March 31			March 31			Percent			March 31			March 31			Percent			March 31			March 31			Percent
				2014			2013			Change			2014			2013			Change			2014			2013			Change			2014			2013			Change
Net interest income (expense)				$	―		$	1		(100.0)	%		$	40		$	35		14.3	%		$	165		$	184		(10.3)	%		$	1,347		$	1,422		(5.3)	%
Net intersegment interest income
	(expense)				1			1		―				66			80		(17.5)				(43)			(107)		(59.8)				―			―		―
Segment net interest income					1			2		(50.0)				106			115		(7.8)				122			77		58.4				1,347			1,422		(5.3)
Allocated provision for credit
	losses				―			―		―				―			9		(100.0)				(18)			35		(151.4)				60			272		(77.9)
Noninterest income					431			366		17.8				177			176		0.6				(102)			(42)		142.9				911			1,001		(9.0)
Intersegment net referral fees
	(expense)				―			―		―				6			8		(25.0)				(33)			(62)		(46.8)				―			―		―
Noninterest expense					303			288		5.2				149			152		(2.0)				368			354		4.0				1,380			1,387		(0.5)
Amortization of intangibles					13			15		(13.3)				1			1		―				―			―		―				23			27		(14.8)
Allocated corporate expenses					17			15		13.3				30			24		25.0				(373)			(338)		10.4				―			―		―
Income (loss) before income taxes					99			50		98.0				109			113		(3.5)				10			(78)		(112.8)				795			737		7.9
Provision (benefit) for income
	taxes				24			15		60.0				41			42		(2.4)				(51)			192		(126.6)				217			481		(54.9)
Segment net income (loss)				$	75		$	35		114.3			$	68		$	71		(4.2)			$	61		$	(270)		(122.6)			$	578		$	256		125.8
Identifiable assets (period end)				$	3,070		$	3,160		(2.8)			$	10,883		$	9,834		10.7			$	51,391		$	48,636		5.7			$	184,651		$	181,504		1.7
(1)	Lines of business results are preliminary.
(2)	During the first quarter of 2014, approximately $8.3 billion of home equity loans were transferred from Community Banking to Residential Mortgage Banking based on a change in how these loans will be managed as a result of new qualified mortgage regulations. Prior period segment data has been reclassified to conform to the current presentation.
(3)	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)(2)
(Dollars in millions)
			Quarter Ended
Community Banking			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	424		$	432		$	431		$	427		$	422
Net intersegment interest income (expense)				299			318			326			339			353
	Segment net interest income			723			750			757			766			775
Allocated provision for credit losses				16			8			46			108			117
Noninterest income				295			311			321			310			287
Intersegment net referral fees (expense)				26			31			42			51			54
Noninterest expense				394			413			409			445			425
Amortization of intangibles				8			8			9			9			10
Allocated corporate expenses				284			261			260			260			260
	Income (loss) before income taxes			342			402			396			305			304
	Provision (benefit) for income taxes			125			148			146			111			111
		Segment net income (loss)	$	217		$	254		$	250		$	194		$	193
Identifiable assets (period end)			$	55,288		$	55,666		$	55,190		$	55,789		$	55,690
			Quarter Ended
Residential Mortgage Banking			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	378		$	388		$	397		$	398		$	401
Net intersegment interest income (expense)				(251)			(250)			(247)			(248)			(254)
	Segment net interest income			127			138			150			150			147
Allocated provision for credit losses				(20)			18			(29)			30			(7)
Noninterest income				60			76			96			151			161
Intersegment net referral fees (expense)				1			―			(1)			―			―
Noninterest expense				86			98			96			98			78
Amortization of intangibles				―			―			―			―			―
Allocated corporate expenses				21			18			17			17			16
	Income (loss) before income taxes			101			80			161			156			221
	Provision (benefit) for income taxes			38			31			61			59			84
		Segment net income (loss)	$	63		$	49		$	100		$	97		$	137
Identifiable assets (period end)			$	36,050		$	36,083		$	37,436		$	36,912		$	36,965
			Quarter Ended
Dealer Financial Services			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	202		$	209		$	210		$	210		$	205
Net intersegment interest income (expense)				(38)			(39)			(40)			(39)			(41)
	Segment net interest income			164			170			170			171			164
Allocated provision for credit losses				73			58			47			42			67
Noninterest income				1			―			1			2			1
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				29			26			28			28			26
Amortization of intangibles				―			―			―			―			―
Allocated corporate expenses				7			7			7			8			7
	Income (loss) before income taxes			56			79			89			95			65
	Provision (benefit) for income taxes			21			30			34			36			25
		Segment net income (loss)	$	35		$	49		$	55		$	59		$	40
Identifiable assets (period end)			$	11,823		$	11,525		$	11,503		$	11,188		$	10,566
			Quarter Ended
Specialized Lending			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	138		$	145		$	181		$	178		$	174
Net intersegment interest income (expense)				(34)			(31)			(33)			(30)			(32)
	Segment net interest income			104			114			148			148			142
Allocated provision for credit losses				9			5			1			28			51
Noninterest income				49			58			58			54			52
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				51			55			72			64			64
Amortization of intangibles				1			1			1			2			1
Allocated corporate expenses				14			16			17			16			16
	Income (loss) before income taxes			78			95			115			92			62
	Provision (benefit) for income taxes			19			25			33			24			12
		Segment net income (loss)	$	59		$	70		$	82		$	68		$	50
Identifiable assets (period end)			$	16,146		$	16,564		$	17,076		$	17,439		$	16,653
(1)	Lines of business results are preliminary.
(2)	During the first quarter of 2014, approximately $8.3 billion of home equity loans were transferred from Community Banking to Residential Mortgage Banking based on a change in how these loans will be managed as a result of new qualified mortgage regulations. Prior period segment data has been reclassified to conform to the current presentation.

 

 

 

 

BB&T Corporation
Lines of Business Financial Performance - Five Quarter Trend (1)(2)
(Dollars in millions)
			Quarter Ended
Insurance Services			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	―		$	1		$	―		$	1		$	1
Net intersegment interest income (expense)				1			1			2			2			1
	Segment net interest income			1			2			2			3			2
Allocated provision for credit losses				―			―			―			―			―
Noninterest income				431			385			357			427			366
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				303			269			286			292			288
Amortization of intangibles				13			15			16			15			15
Allocated corporate expenses				17			20			14			14			15
	Income (loss) before income taxes			99			83			43			109			50
	Provision (benefit) for income taxes			24			29			16			37			15
		Segment net income (loss)	$	75		$	54		$	27		$	72		$	35
Identifiable assets (period end)			$	3,070		$	2,990		$	2,876		$	3,164		$	3,160
			Quarter Ended
Financial Services			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	40		$	39		$	39		$	40		$	35
Net intersegment interest income (expense)				66			71			72			75			80
	Segment net interest income			106			110			111			115			115
Allocated provision for credit losses				―			(3)			(1)			13			9
Noninterest income				177			205			179			184			176
Intersegment net referral fees (expense)				6			9			9			10			8
Noninterest expense				149			161			149			156			152
Amortization of intangibles				1			1			1			―			1
Allocated corporate expenses				30			24			25			26			24
	Income (loss) before income taxes			109			141			125			114			113
	Provision (benefit) for income taxes			41			53			47			43			42
		Segment net income (loss)	$	68		$	88		$	78		$	71		$	71
Identifiable assets (period end)			$	10,883		$	10,001		$	11,051		$	10,024		$	9,834
			Quarter Ended
Other, Treasury & Corporate (3)			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	165		$	148		$	159		$	161		$	184
Net intersegment interest income (expense)				(43)			(70)			(80)			(99)			(107)
	Segment net interest income			122			78			79			62			77
Allocated provision for credit losses				(18)			(26)			28			(53)			35
Noninterest income				(102)			(50)			(107)			(82)			(42)
Intersegment net referral fees (expense)				(33)			(40)			(50)			(61)			(62)
Noninterest expense				368			408			405			386			354
Amortization of intangibles				―			1			(1)			1			―
Allocated corporate expenses				(373)			(346)			(340)			(341)			(338)
	Income (loss) before income taxes			10			(49)			(170)			(74)			(78)
	Provision (benefit) for income taxes			(51)			(73)			113			(89)			192
		Segment net income (loss)	$	61		$	24		$	(283)		$	15		$	(270)
Identifiable assets (period end)			$	51,391		$	50,181		$	46,576		$	48,876		$	48,636
			Quarter Ended
Total BB&T Corporation			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
Net interest income (expense)			$	1,347		$	1,362		$	1,417		$	1,415		$	1,422
Net intersegment interest income (expense)				―			―			―			―			―
	Segment net interest income			1,347			1,362			1,417			1,415			1,422
Allocated provision for credit losses				60			60			92			168			272
Noninterest income				911			985			905			1,046			1,001
Intersegment net referral fees (expense)				―			―			―			―			―
Noninterest expense				1,380			1,430			1,445			1,469			1,387
Amortization of intangibles				23			26			26			27			27
Allocated corporate expenses				―			―			―			―			―
	Income (loss) before income taxes			795			831			759			797			737
	Provision (benefit) for income taxes			217			243			450			221			481
		Segment net income (loss)	$	578		$	588		$	309		$	576		$	256
Identifiable assets (period end)			$	184,651		$	183,010		$	181,708		$	183,392		$	181,504
(1)	Lines of business results are preliminary.
(2)	During the first quarter of 2014, approximately $8.3 billion of home equity loans were transferred from Community Banking to Residential Mortgage Banking based on a change in how these loans will be managed as a result of new qualified mortgage regulations. Prior period segment data has been reclassified to conform to the current presentation.
(3)	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
				2014			2013			$			%
Assets
	Cash and due from banks			$	1,722		$	1,322		$	400		30.3	%
	Interest-bearing deposits with banks				354			944			(590)		(62.5)
	Federal funds sold and securities purchased under
		resale agreements or similar arrangements			144			302			(158)		(52.3)
	Restricted cash				363			646			(283)		(43.8)
	Trading securities at fair value				525			627			(102)		(16.3)
	Securities available for sale at fair value (1)				20,496			24,170			(3,674)		(15.2)
	Securities held to maturity				20,812			13,119			7,693		58.6
	Loans and leases:
		Commercial:
			Commercial and industrial		39,119			38,429			690		1.8
			Commercial real estate—income producing properties		10,411			9,870			541		5.5
			Commercial real estate—construction and development		2,478			2,730			(252)		(9.2)
		Direct retail lending (2)			7,519			15,767			(8,248)		(52.3)
		Sales finance			9,759			8,114			1,645		20.3
		Revolving credit			2,340			2,284			56		2.5
		Residential mortgage (2)			32,897			23,954			8,943		37.3
		Other lending subsidiaries			10,186			10,043			143		1.4
			Total loans and leases held for investment (excluding covered loans)		114,709			111,191			3,518		3.2
		Covered loans			1,819			3,005			(1,186)		(39.5)
			Total loans and leases held for investment		116,528			114,196			2,332		2.0
		Loans held for sale			1,104			3,432			(2,328)		(67.8)
			Total loans and leases		117,632			117,628			4		0.0
	Allowance for loan and lease losses				(1,642)			(1,975)			333		(16.9)
	Premises and equipment				1,854			1,880			(26)		(1.4)
	Goodwill				6,824			6,823			1		0.0
	Core deposit and other intangible assets				546			647			(101)		(15.6)
	Residential mortgage servicing rights at fair value				1,008			735			273		37.1
	Other assets (3)				14,013			14,636			(623)		(4.3)
		Total assets		$	184,651		$	181,504		$	3,147		1.7	%
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits		$	36,322		$	33,236		$	3,086		9.3	%
		Interest checking			18,416			20,175			(1,759)		(8.7)
		Money market and savings			49,072			49,088			(16)		(0.0)
		Certificates and other time deposits			23,666			28,853			(5,187)		(18.0)
			Total deposits		127,476			131,352			(3,876)		(3.0)
	Short-term borrowings				3,285			3,239			46		1.4
	Long-term debt				23,384			18,316			5,068		27.7
	Other liabilities				6,950			7,368			(418)		(5.7)
		Total liabilities			161,095			160,275			820		0.5
	Shareholders' equity:
		Preferred stock			2,603			2,116			487		23.0
		Common stock			3,592			3,507			85		2.4
		Additional paid-in capital			6,385			5,975			410		6.9
		Retained earnings			11,382			10,178			1,204		11.8
		Accumulated other comprehensive loss			(500)			(612)			112		(18.3)
		Noncontrolling interests			94			65			29		44.6
		Total shareholders' equity			23,556			21,229			2,327		11.0
		Total liabilities and shareholders' equity		$	184,651		$	181,504		$	3,147		1.7	%
(1)	Includes covered securities of $1.4 billion and $1.6 billion at March 31, 2014 and 2013, respectively.
(2)	During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.
(3)	Includes $138 million and $273 million of covered foreclosed property and covered other assets at March 31, 2014 and 2013, respectively.

 

BB&T Corporation
Consolidated Balance Sheets - Five Quarter Trend
(Dollars in millions)
				As of
				March 31			Dec. 31			Sept. 30			June 30			March 31
				2014			2013			2013			2013			2013
Assets
	Cash and due from banks			$	1,722		$	1,565		$	1,811		$	1,444		$	1,322
	Interest-bearing deposits with banks				354			452			498			740			944
	Federal funds sold and securities purchased under
		resale agreements or similar arrangements			144			148			160			195			302
	Restricted cash				363			422			516			585			646
	Trading securities at fair value				525			381			521			537			627
	Securities available for sale at fair value (1)				20,496			22,104			22,865			24,477			24,170
	Securities held to maturity				20,812			18,101			13,529			13,751			13,119
	Loans and leases:
		Commercial:
			Commercial and industrial		39,119			38,508			38,256			38,701			38,429
			Commercial real estate—income producing properties		10,411			10,228			9,860			9,971			9,870
			Commercial real estate—construction and development		2,478			2,382			2,453			2,527			2,730
		Direct retail lending (2)			7,519			15,869			16,128			16,069			15,767
		Sales finance			9,759			9,382			9,132			8,821			8,114
		Revolving credit			2,340			2,403			2,333			2,325			2,284
		Residential mortgage (2)			32,897			24,648			24,037			23,795			23,954
		Other lending subsidiaries			10,186			10,462			11,102			10,836			10,043
			Total loans and leases held for investment (excluding covered loans)		114,709			113,882			113,301			113,045			111,191
		Covered loans			1,819			2,035			2,324			2,749			3,005
			Total loans and leases held for investment		116,528			115,917			115,625			115,794			114,196
		Loans held for sale			1,104			1,222			2,957			2,488			3,432
			Total loans and leases		117,632			117,139			118,582			118,282			117,628
	Allowance for loan and lease losses				(1,642)			(1,732)			(1,838)			(1,901)			(1,975)
	Premises and equipment				1,854			1,869			1,876			1,893			1,880
	Goodwill				6,824			6,814			6,823			6,824			6,823
	Core deposit and other intangible assets				546			569			595			620			647
	Residential mortgage servicing rights at fair value				1,008			1,047			956			892			735
	Other assets (3)				14,013			14,131			14,814			15,053			14,636
		Total assets		$	184,651		$	183,010		$	181,708		$	183,392		$	181,504
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits		$	36,322		$	34,972		$	34,486		$	33,760		$	33,236
		Interest checking			18,416			18,861			18,837			19,053			20,175
		Money market and savings			49,072			48,687			49,000			48,529			49,088
		Certificates and other time deposits			23,666			24,955			25,161			29,737			28,853
			Total deposits		127,476			127,475			127,484			131,079			131,352
	Short-term borrowings				3,285			4,138			4,813			3,192			3,239
	Long-term debt				23,384			21,493			20,402			19,362			18,316
	Other liabilities				6,950			7,095			6,915			7,763			7,368
		Total liabilities			161,095			160,201			159,614			161,396			160,275
	Shareholders' equity:
		Preferred stock			2,603			2,603			2,603			2,603			2,116
		Common stock			3,592			3,533			3,525			3,515			3,507
		Additional paid-in capital			6,385			6,172			6,112			6,042			5,975
		Retained earnings			11,382			11,044			10,669			10,564			10,178
		Accumulated other comprehensive loss			(500)			(593)			(860)			(784)			(612)
		Noncontrolling interests			94			50			45			56			65
		Total shareholders' equity			23,556			22,809			22,094			21,996			21,229
		Total liabilities and shareholders' equity		$	184,651		$	183,010		$	181,708		$	183,392		$	181,504
(1)	Includes covered securities of $1.4 billion, $1.4 billion, $1.4 billion, $1.5 billion and $1.6 billion at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively.
(2)	During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.
(3)	Includes $138 million, $163 million, $186 million, $221 million and $273 million of covered foreclosed property and covered other assets at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively.

 

BB&T Corporation
Average Balance Sheets
(Dollars in millions)
						Year-to-Date
						March 31						Change
						2014			2013			$			%
Assets
	Securities, at amortized cost (1):
		U.S. Treasury				$	1,634		$	302		$	1,332		NM	%
		U.S. government-sponsored entities (GSE)					5,603			4,220			1,383		32.8
		Mortgage-backed securities issued by GSE					29,339			28,540			799		2.8
		States and political subdivisions					1,833			1,837			(4)		(0.2)
		Non-agency mortgage-backed					259			300			(41)		(13.7)
		Other					477			477			―		―
		Covered					972			1,125			(153)		(13.6)
			Total securities				40,117			36,801			3,316		9.0
	Other earning assets						1,875			2,838			(963)		(33.9)
	Loans and leases:
		Commercial:
			Commercial and industrial				38,435			37,916			519		1.4
			Commercial real estate—income producing properties				10,293			9,862			431		4.4
			Commercial real estate—construction and development				2,454			2,798			(344)		(12.3)
		Direct retail lending (2)					9,349			15,757			(6,408)		(40.7)
		Sales finance					9,428			7,838			1,590		20.3
		Revolving credit					2,357			2,279			78		3.4
		Residential mortgage (2)					30,635			23,618			7,017		29.7
		Other lending subsidiaries					10,236			9,988			248		2.5
			Total loans and leases held for investment
				(excluding covered loans)			113,187			110,056			3,131		2.8
		Covered loans					1,874			3,133			(1,259)		(40.2)
			Total loans and leases held for investment				115,061			113,189			1,872		1.7
		Loans held for sale					1,311			3,792			(2,481)		(65.4)
			Total loans and leases				116,372			116,981			(609)		(0.5)
				Total earning assets			158,364			156,620			1,744		1.1
	Nonearning assets						24,033			25,393			(1,360)		(5.4)
	Total assets					$	182,397		$	182,013		$	384		0.2	%
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits				$	35,392		$	32,518		$	2,874		8.8	%
		Interest checking					18,615			20,169			(1,554)		(7.7)
		Money market and savings					48,767			48,431			336		0.7
		Certificates and other time deposits					21,935			28,934			(6,999)		(24.2)
		Foreign office deposits - interest-bearing					1,009			385			624		162.1
			Total deposits				125,718			130,437			(4,719)		(3.6)
	Short-term borrowings						4,321			4,217			104		2.5
	Long-term debt						22,432			18,690			3,742		20.0
	Other liabilities						6,662			7,354			(692)		(9.4)
			Total liabilities				159,133			160,698			(1,565)		(1.0)
	Shareholders' equity						23,264			21,315			1,949		9.1
	Total liabilities and shareholders' equity					$	182,397		$	182,013		$	384		0.2	%
Average balances exclude basis adjustments for fair value hedges.
(1)	Excludes trading securities.
(2)	During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.
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
					2014			2013			2013			2013			2013
Assets
	Securities, at amortized cost (1):
		U.S. Treasury			$	1,634		$	824		$	518		$	360		$	302
		U.S. government-sponsored entities (GSE)				5,603			5,596			5,358			4,872			4,220
		Mortgage-backed securities issued by GSE				29,339			27,020			27,050			27,803			28,540
		States and political subdivisions				1,833			1,834			1,835			1,836			1,837
		Non-agency mortgage-backed				259			268			277			289			300
		Other				477			475			463			466			477
		Covered				972			1,005			1,046			1,093			1,125
			Total securities			40,117			37,022			36,547			36,719			36,801
	Other earning assets					1,875			2,022			2,173			2,626			2,838
	Loans and leases:
		Commercial:
			Commercial and industrial			38,435			38,101			38,446			38,359			37,916
			Commercial real estate—income producing properties			10,293			10,031			9,907			9,864			9,862
			Commercial real estate—construction and development			2,454			2,433			2,459			2,668			2,798
		Direct retail lending (2)				9,349			15,998			16,112			15,936			15,757
		Sales finance				9,428			9,262			8,992			8,520			7,838
		Revolving credit				2,357			2,357			2,308			2,268			2,279
		Residential mortgage (2)				30,635			23,979			23,403			23,391			23,618
		Other lending subsidiaries				10,236			10,448			11,018			10,407			9,988
			Total loans and leases held for investment (excluding covered loans)			113,187			112,609			112,645			111,413			110,056
		Covered loans				1,874			2,186			2,502			2,858			3,133
			Total loans and leases held for investment			115,061			114,795			115,147			114,271			113,189
		Loans held for sale				1,311			2,206			3,118			3,581			3,792
			Total loans and leases			116,372			117,001			118,265			117,852			116,981
				Total earning assets		158,364			156,045			156,985			157,197			156,620
	Nonearning assets					24,033			23,489			24,036			25,311			25,393
	Total assets				$	182,397		$	179,534		$	181,021		$	182,508		$	182,013
Liabilities and Shareholders' Equity
	Deposits:
		Noninterest-bearing deposits			$	35,392		$	35,347		$	34,244		$	33,586		$	32,518
		Interest checking				18,615			18,969			18,826			19,276			20,169
		Money market and savings				48,767			49,298			48,676			48,140			48,431
		Certificates and other time deposits				21,935			21,580			25,562			28,034			28,934
		Foreign office deposits - interest-bearing				1,009			712			640			947			385
			Total deposits			125,718			125,906			127,948			129,983			130,437
	Short-term borrowings					4,321			3,865			4,637			5,118			4,217
	Long-term debt					22,432			20,756			19,447			18,287			18,690
	Other liabilities					6,662			6,702			6,850			7,331			7,354
		Total liabilities				159,133			157,229			158,882			160,719			160,698
	Shareholders' equity					23,264			22,305			22,139			21,789			21,315
	Total liabilities and shareholders' equity				$	182,397		$	179,534		$	181,021		$	182,508		$	182,013
Average balances exclude basis adjustments for fair value hedges.
(1)	Excludes trading securities.
(2)	During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

 

BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
					Quarter Ended
					March 31, 2014								December 31, 2013
					(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. Treasury			$	1,634		$	6	1.50	%		$	824		$	2	0.70	%
		U.S. government-sponsored entities (GSE)				5,603			29	2.09				5,596			29	2.10
		Mortgage-backed securities issued by GSE				29,339			150	2.04				27,020			142	2.11
		States and political subdivisions				1,833			26	5.77				1,834			27	5.82
		Non-agency mortgage-backed				259			5	6.99				268			4	5.87
		Other				477			2	1.57				475			2	1.42
		Covered				972			31	12.86				1,005			28	11.17
			Total securities			40,117			249	2.48				37,022			234	2.52
	Other earning assets					1,875			15	3.30				2,022			5	0.91
	Loans and leases:
		Commercial:
			Commercial and industrial			38,435			325	3.43				38,101			336	3.50
			Commercial real estate—income producing properties			10,293			91	3.57				10,031			91	3.60
			Commercial real estate—construction and development			2,454			22	3.64				2,433			23	3.84
		Direct retail lending (4)				9,349			99	4.28				15,998			183	4.50
		Sales finance				9,428			66	2.84				9,262			69	2.95
		Revolving credit				2,357			51	8.78				2,357			51	8.64
		Residential mortgage (4)				30,635			325	4.26				23,979			250	4.18
		Other lending subsidiaries				10,236			238	9.42				10,448			247	9.40
			Total loans and leases held for investment
				(excluding covered loans)		113,187			1,217	4.34				112,609			1,250	4.41
		Covered loans				1,874			86	18.65				2,186			89	16.28
			Total loans and leases held for investment			115,061			1,303	4.58				114,795			1,339	4.64
		Loans held for sale				1,311			15	4.46				2,206			23	4.19
			Total loans and leases			116,372			1,318	4.58				117,001			1,362	4.63
				Total earning assets		158,364			1,582	4.03				156,045			1,601	4.08
	Nonearning assets					24,033								23,489
	Total assets				$	182,397							$	179,534
Liabilities and Shareholders' Equity
	Interest-bearing deposits:
		Interest checking			$	18,615			3	0.07			$	18,969			3	0.07
		Money market and savings				48,767			15	0.13				49,298			16	0.12
		Certificates and other time deposits				21,935			42	0.75				21,580			45	0.83
		Foreign office deposits - interest-bearing				1,009			―	0.06				712			1	0.06
			Total interest-bearing deposits			90,326			60	0.27				90,559			65	0.28
	Short-term borrowings					4,321			1	0.11				3,865			1	0.14
	Long-term debt					22,432			138	2.49				20,756			138	2.64
		Total interest-bearing liabilities				117,079			199	0.69				115,180			204	0.70
	Noninterest-bearing deposits					35,392								35,347
	Other liabilities					6,662								6,702
	Shareholders' equity					23,264								22,305
	Total liabilities and shareholders' equity				$	182,397							$	179,534
	Average interest-rate spread									3.34								3.38
	Net interest income/ net interest margin							$	1,383	3.52	%					$	1,397	3.56	%
	Taxable-equivalent adjustment							$	36							$	35
Applicable ratios are annualized.
(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.
(3)	Excludes trading securities.
(4)	During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

 

 

BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
					Quarter Ended
					September 30, 2013								June 30, 2013								March 31, 2013
					(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. Treasury			$	518		$	―	0.23	%		$	360		$	―	0.23	%		$	302		$	―	0.24	%
		U.S. government-sponsored entities (GSE)				5,358			28	2.06				4,872			25	2.01				4,220			21	1.99
		Mortgage-backed securities issued by GSE				27,050			135	2.01				27,803			138	1.97				28,540			137	1.92
		States and political subdivisions				1,835			27	5.79				1,836			26	5.81				1,837			27	5.80
		Non-agency mortgage-backed				277			4	5.75				289			4	5.57				300			4	5.58
		Other				463			2	1.44				466			1	1.51				477			2	1.41
		Covered				1,046			38	14.37				1,093			34	12.48				1,125			37	13.18
			Total securities			36,547			234	2.56				36,719			228	2.49				36,801			228	2.48
	Other earning assets					2,173			8	1.49				2,626			9	1.40				2,838			12	1.64
	Loans and leases:
		Commercial:
			Commercial and industrial			38,446			346	3.58				38,359			351	3.67				37,916			353	3.76
			CRE—income producing properties			9,907			92	3.68				9,864			92	3.75				9,862			93	3.84
			CRE—construction and development			2,459			24	3.92				2,668			26	3.82				2,798			27	3.89
		Direct retail lending				16,112			188	4.67				15,936			186	4.67				15,757			184	4.73
		Sales finance				8,992			69	3.06				8,520			69	3.25				7,838			68	3.52
		Revolving credit				2,308			50	8.60				2,268			48	8.48				2,279			48	8.51
		Residential mortgage				23,403			249	4.24				23,391			246	4.21				23,618			251	4.26
		Other lending subsidiaries				11,018			280	10.09				10,407			274	10.54				9,988			267	10.84
			Total loans and leases held for investment
				(excluding covered loans)		112,645			1,298	4.59				111,413			1,292	4.64				110,056			1,291	4.74
		Covered loans				2,502			106	16.78				2,858			121	16.95				3,133			135	17.49
			Total loans and leases held for investment			115,147			1,404	4.85				114,271			1,413	4.95				113,189			1,426	5.09
		Loans held for sale				3,118			30	3.73				3,581			30	3.42				3,792			31	3.28
			Total loans and leases			118,265			1,434	4.82				117,852			1,443	4.90				116,981			1,457	5.03
				Total earning assets		156,985			1,676	4.25				157,197			1,680	4.28				156,620			1,697	4.37
	Nonearning assets					24,036								25,311								25,393
	Total assets				$	181,021							$	182,508							$	182,013
Liabilities and Shareholders' Equity
	Interest-bearing deposits:
		Interest checking			$	18,826			4	0.07			$	19,276			3	0.08			$	20,169			5	0.09
		Money market and savings				48,676			15	0.12				48,140			15	0.13				48,431			18	0.15
		Certificates and other time deposits				25,562			53	0.83				28,034			60	0.84				28,934			63	0.89
		Foreign office deposits - interest-bearing				640			―	0.06				947			―	0.09				385			―	0.12
			Total interest-bearing deposits			93,704			72	0.31				96,397			78	0.32				97,919			86	0.36
	Short-term borrowings					4,637			2	0.13				5,118			2	0.18				4,217			2	0.18
	Long-term debt					19,447			148	3.05				18,287			148	3.23				18,690			150	3.23
		Total interest-bearing liabilities				117,788			222	0.75				119,802			228	0.76				120,826			238	0.79
	Noninterest-bearing deposits					34,244								33,586								32,518
	Other liabilities					6,850								7,331								7,354
	Shareholders' equity					22,139								21,789								21,315
	Total liabilities and shareholders' equity				$	181,021							$	182,508							$	182,013
	Average interest-rate spread									3.50								3.52								3.58
	Net interest income/ net interest margin							$	1,454	3.68	%					$	1,452	3.70	%					$	1,459	3.76	%
	Taxable-equivalent adjustment							$	37							$	37							$	37
Applicable ratios are annualized.
(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.
(3)	Excludes trading securities.

 

BB&T Corporation
Credit Quality
(Dollars in millions)
				As of
				March 31			Dec. 31			Sept. 30			June 30			March 31
				2014			2013			2013			2013			2013
Nonperforming assets (1)
	Nonaccrual loans and leases:
		Commercial:
			Commercial and industrial	$	334		$	363		$	415		$	457		$	533
			Commercial real estate—income producing properties		98			113			127			146			146
			Commercial real estate—construction and development		49			51			66			100			136
		Direct retail lending (2)			52			109			110			119			127
		Sales finance			4			5			5			5			6
		Residential mortgage (2)(3)			319			243			238			254			255
		Other lending subsidiaries (3)(4)			47			51			69			68			80
			Total nonaccrual loans and leases held for investment (4)		903			935			1,030			1,149			1,283
	Foreclosed real estate (5)				59			71			85			89			88
	Other foreclosed property				24			47			47			38			42
			Total nonperforming assets (excluding covered assets) (4)(5)	$	986		$	1,053		$	1,162		$	1,276		$	1,413
Performing troubled debt restructurings (TDRs) (6)
		Commercial:
			Commercial and industrial	$	76		$	77		$	74		$	59		$	54
			Commercial real estate—income producing properties		42			50			50			44			54
			Commercial real estate—construction and development		32			39			44			43			37
		Direct retail lending (2)			93			187			185			188			193
		Sales finance			19			17			18			17			19
		Revolving credit			47			48			51			53			55
		Residential mortgage (2)(3)(7)			836			785			720			726			715
		Other lending subsidiaries (3)(4)			132			126			200			183			162
			Total performing TDRs (4)(7)	$	1,277		$	1,329		$	1,342		$	1,313		$	1,289
Loans 90 days or more past due and still accruing
		Commercial:
			Commercial and industrial	$	―		$	―		$	―		$	3		$	―
		Direct retail lending (2)			10			33			34			30			34
		Sales finance			4			5			5			5			7
		Revolving credit			9			10			11			13			14
		Residential mortgage (2)(8)(9)			78			69			68			68			77
		Other lending subsidiaries			4			5			4			4			6
			Total loans 90 days past due and still accruing (excluding covered loans) (8)(9)(10)	$	105		$	122		$	122		$	123		$	138
Loans 30-89 days past due
		Commercial:
			Commercial and industrial	$	26		$	35		$	27		$	32		$	34
			Commercial real estate—income producing properties		14			8			13			9			5
			Commercial real estate—construction and development		3			2			2			3			7
		Direct retail lending (2)			50			132			121			123			136
		Sales finance			45			56			46			47			42
		Revolving credit			21			23			22			20			20
		Residential mortgage (2)(3)(11)(12)			516			463			424			465			529
		Other lending subsidiaries (3)(4)			133			221			268			241			183
			Total loans 30-89 days past due (excluding covered loans) (4)(11)(12)(13)	$	808		$	940		$	923		$	940		$	956
(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 below.
(2)	During the first quarter of 2014, approximately $55 million of nonaccrual loans, $94 million of performing TDRs, $22 million of loans 90 days or more past due and $83 million of loans 30-89 days past due were transferred from direct retail lending to residential mortgage.
(3)	During the fourth quarter of 2013, approximately $16 million of nonaccrual loans, $66 million of performing TDRs and $40 million of loans 30-89 days past due were transferred from other lending subsidiaries to residential mortgage.
(4)	During the fourth quarter of 2013, approximately $9 million of nonaccrual loans, $24 million of performing TDRs and $26 million of loans 30-89 days past due were sold in connection with the sale of a consumer lending subsidiary.
(5)	Excludes covered foreclosed real estate totaling $98 million, $121 million, $148 million, $181 million and $232 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively.
(6)	Excludes TDRs that are nonperforming totaling $213 million, $193 million, $191 million, $211 million, and $222 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively. These amounts are included in total nonperforming assets.
(7)	Excludes mortgage TDRs that are government guaranteed totaling $391 million, $379 million, $383 million, $367 million and $338 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively. Includes mortgage TDRs held for sale.
(8)	Excludes mortgage loans past due 90 days or more that are government guaranteed totaling $307 million, $297 million, $268 million, $246 million and $251 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively. Includes past due mortgage loans held for sale.
(9)	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 $486 million, $511 million, $497 million, $492 million and $514 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively.
(10)	Excludes covered loans past due 90 days or more totaling $258 million, $304 million, $364 million, $401 million and $371 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively.
(11)	Excludes mortgage loans past due 30-89 days that are government guaranteed totaling $75 million, $96 million, $107 million, $103 million and $95 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively. Includes past due mortgage loans held for sale.
(12)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase that are past due 30-89 days totaling $2 million, $4 million, $5 million, $5 million and $5 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, respectively.
(13)	Excludes covered loans past due 30-89 days totaling $85 million, $88 million, $104 million, $102 million and $120 million at March 31, 2014, December 31, 2013, September 30, 2013, June 30, 2013 and March 31, 2013, 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
				2014			2013			2013			2013			2013
Allowance for credit losses
	Beginning balance			$	1,821		$	1,930		$	1,982		$	2,031		$	2,048
	Provision for credit losses (excluding covered loans)				67			71			90			179			247
	Provision for covered loans				(7)			(11)			2			(11)			25
	Charge-offs:
		Commercial:
			Commercial and industrial		(33)			(45)			(42)			(70)			(91)
			Commercial real estate—income producing properties		(8)			(6)			(10)			(24)			(34)
			Commercial real estate—construction and development		(4)			(4)			(7)			(25)			(22)
		Direct retail lending (1)			(19)			(29)			(35)			(42)			(42)
		Sales finance			(7)			(7)			(5)			(5)			(6)
		Revolving credit			(18)			(22)			(22)			(20)			(21)
		Residential mortgage (1)			(21)			(17)			(15)			(16)			(33)
		Other lending subsidiaries			(85)			(60)			(66)			(61)			(68)
		Covered			(3)			(1)			(2)			(2)			(14)
			Total charge-offs		(198)			(191)			(204)			(265)			(331)
	Recoveries:
		Commercial:
			Commercial and industrial		9			13			17			10			7
			Commercial real estate—income producing properties		2			5			7			6			3
			Commercial real estate—construction and development		3			8			11			4			7
		Direct retail lending (1)			8			9			11			10			8
		Sales finance			3			2			3			2			2
		Revolving credit			5			4			3			5			5
		Residential mortgage (1)			1			1			―			1			1
		Other lending subsidiaries			8			7			8			10			9
			Total recoveries		39			49			60			48			42
	Net charge-offs				(159)			(142)			(144)			(217)			(289)
	Sale of subsidiary				―			(27)			―			―			―
	Ending balance			$	1,722		$	1,821		$	1,930		$	1,982		$	2,031
Allowance for credit losses
	Allowance for loan and lease losses (excluding covered loans)			$	1,538		$	1,618		$	1,712		$	1,775		$	1,836
	Allowance for covered loans				104			114			126			126			139
	Reserve for unfunded lending commitments				80			89			92			81			56
		Total		$	1,722		$	1,821		$	1,930		$	1,982		$	2,031
(1)	During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

 

 

BB&T Corporation
Credit Quality
			As of/For the Quarter Ended
			March 31			Dec. 31			Sept. 30			June 30			March 31
			2014			2013			2013			2013			2013
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)	0.76	%		0.88	%		0.87	%		0.88	%		0.91	%
	Loans 90 days or more past due and still accruing
		as a percentage of total loans and leases (1)(2)	0.31			0.36			0.41			0.44			0.43
	Nonperforming loans and leases as a
		percentage of total loans and leases	0.77			0.80			0.87			0.97			1.09
	Nonperforming assets as a percentage of:
		Total assets	0.59			0.64			0.72			0.79			0.91
		Loans and leases plus foreclosed property	0.92			1.00			1.10			1.23			1.39
	Net charge-offs as a percentage of average loans and leases		0.56			0.48			0.48			0.74			1.00
	Allowance for loan and lease losses as a percentage of
		loans and leases held for investment	1.41			1.49			1.59			1.64			1.73
	Ratio of allowance for loan and lease losses to:
		Net charge-offs	2.54	X		3.06	X		3.22	X		2.18	X		1.69	X
		Nonperforming loans and leases held for investment	1.82			1.85			1.78			1.66			1.54
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)	0.70	%		0.82	%		0.79	%		0.81	%		0.83	%
	Loans 90 days or more past due and still accruing
		as a percentage of total loans and leases (1)(2)	0.09			0.11			0.10			0.11			0.12
	Nonperforming loans and leases as a
		percentage of total loans and leases	0.78			0.81			0.89			0.99			1.12
	Nonperforming assets as a percentage of:
		Total assets	0.54			0.58			0.65			0.71			0.79
		Loans and leases plus foreclosed property	0.85			0.91			1.00			1.10			1.23
	Net charge-offs as a percentage of average loans and leases		0.55			0.49			0.49			0.75			0.98
	Allowance for loan and lease losses as a percentage of
		loans and leases held for investment	1.34			1.42			1.51			1.57			1.65
	Ratio of allowance for loan and lease losses to:
		Net charge-offs	2.42	X		2.88	X		3.03	X		2.07	X		1.65	X
		Nonperforming loans and leases held for investment	1.70			1.73			1.66			1.55			1.43
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 loss share accounting.

 

BB&T Corporation
Credit Quality - Supplemental Information
(Dollars in millions)
				As of March 31, 2014
												Past Due 30-89							Past Due 90+
				Current Status								Days							Days									Total
Performing TDRs: (1)
	Commercial:
		Commercial and industrial		$	76		100.0		%			$	―		―		%		$		―		―		%			$	76
		Commercial real estate—income producing properties			41		97.6						1		2.4						―		―						42
		Commercial real estate—construction and development			32		100.0						―		―						―		―						32
	Direct retail lending				88		94.6						5		5.4						―		―						93
	Sales finance				17		89.5						1		5.3						1		5.2						19
	Revolving credit				40		85.1						5		10.6						2		4.3						47
	Residential mortgage (2)				713		85.3						109		13.0						14		1.7						836
	Other lending subsidiaries				119		90.2						13		9.8						―		―						132
		Total performing TDRs			1,126		88.2						134		10.5						17		1.3						1,277
Nonperforming TDRs (3)					68		31.9						28		13.2						117		54.9						213
		Total TDRs (2)		$	1,194		80.1					$	162		10.9				$		134		9.0					$	1,490
						Quarter Ended
						March 31				Dec. 31						Sept. 30						June 30				March 31
						2014				2013						2013						2013				2013
Net charge-offs as a percentage of average loans and leases:
	Commercial:
		Commercial and industrial				0.26		%		0.33				%		0.26				%		0.63		%		0.89				%
		Commercial real estate—income producing properties				0.22				0.06						0.19						0.70				1.29
		Commercial real estate—construction and development				0.09				(0.49)						(0.75)						3.11				2.13
	Direct retail lending					0.49				0.50						0.61						0.79				0.87
	Sales finance					0.17				0.20						0.15						0.10				0.20
	Revolving credit					2.30				3.00						3.05						2.64				2.93
	Residential mortgage					0.27				0.27						0.24						0.27				0.55
	Other lending subsidiaries					3.04				2.01						2.05						1.98				2.42
	Covered					0.67				0.16						0.25						0.41				1.77
		Total loans and leases (4)				0.56				0.48						0.48						0.74				1.00
		Total loans and leases, excluding covered loans (4)				0.55				0.49						0.49						0.75				0.98
Applicable ratios are annualized.
(1)	Past due performing TDRs are included in past due disclosures.
(2)	Excludes mortgage TDRs that are government guaranteed totaling $391 million.
(3)	Nonperforming TDRs are included in nonaccrual loan disclosures.
(4)	Total loans and leases includes loans held for sale.

 

BB&T Corporation
Preliminary 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
			2014				2013				2013				2013				2013
Selected Capital Information
	Risk-based capital:
		Tier 1	$	16,699			$	16,074			$	15,606			$	15,397			$	14,432
		Total		20,154				19,514				19,255				19,193				18,321
	Risk-weighted assets (1)			138,375				136,489				138,302				138,265				135,914
	Average quarterly tangible assets			175,424				172,425				173,787				174,865				174,214
	Risk-based capital ratios:
		Tier 1		12.1	%			11.8	%			11.3	%			11.1	%			10.6	%
		Total		14.6				14.3				13.9				13.9				13.5
	Leverage capital ratio			9.5				9.3				9.0				8.8				8.3
	Equity as a percentage of total assets			12.8				12.5				12.2				12.0				11.7
	Common equity per common share		$	29.03			$	28.52			$	27.59			$	27.51			$	27.15
Selected non-GAAP Capital Information (2)
	Tangible common equity as a percentage of tangible assets (3)			7.6	%			7.3	%			6.9	%			6.8	%			6.7	%
	Tier 1 common equity as a percentage of risk-weighted assets			10.2				9.9				9.4				9.3				9.1
	Tangible common equity per common share (3)		$	18.77			$	18.08			$	17.06			$	16.92			$	16.50
Calculations of tangible common equity, Tier 1 common equity, tangible assets and related measures: (2)
Total shareholders' equity			$	23,556			$	22,809			$	22,094			$	21,996			$	21,229
Less:
	Preferred stock			2,603				2,603				2,603				2,603				2,116
	Noncontrolling interests			94				50				45				56				65
	Intangible assets			7,370				7,383				7,418				7,444				7,470
Tangible common equity			$	13,489			$	12,773			$	12,028			$	11,893			$	11,578
Add:
	Regulatory adjustments			607				698				975				901				738
Tier 1 common equity (Basel I)			$	14,096			$	13,471			$	13,003			$	12,794			$	12,316
Total assets			$	184,651			$	183,010			$	181,708			$	183,392			$	181,504
Less:
	Intangible assets			7,370				7,383				7,418				7,444				7,470
Tangible assets (3)			$	177,281			$	175,627			$	174,290			$	175,948			$	174,034
Risk-weighted assets (1)			$	138,375			$	136,489			$	138,302			$	138,265			$	135,914
Tangible common equity as a percentage of tangible assets (3)				7.6	%			7.3	%			6.9	%			6.8	%			6.7	%
Tier 1 common equity as a percentage of risk-weighted assets				10.2				9.9				9.4				9.3				9.1
Tangible common equity			$	13,489			$	12,773			$	12,028			$	11,893			$	11,578
Outstanding shares at end of period (in thousands)				718,497				706,620				704,925				702,995				701,440
Tangible common equity per common share (3)			$	18.77			$	18.08			$	17.06			$	16.92			$	16.50
(1)	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.
(2)	Tangible common equity, Tier 1 common equity and related ratios are non-GAAP measures.  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.
(3)	At September 30, 2013, the calculation of tangible common equity per common share was revised to be based upon tangible common equity whereas this calculation was previously based upon Tier 1 common equity.  In addition, the calculation of tangible assets was revised to no longer include deferred taxes on intangible assets.  Previously presented information has been revised to conform to the current presentation.

 

BB&T Corporation
Selected Items & Additional Information
(Dollars in millions, except per share data)
																Favorable (Unfavorable)
Selected Items																Pre-Tax				After-Tax
First Quarter 2014
	Reallocation of partnership profit rights			Noncontrolling interests												$	N/A			$	(16)
Fourth Quarter 2013
	Gain on sale of subsidiary			Other income													31				19
Third Quarter 2013
	Income tax adjustment			Provision for income taxes													N/A				(235)
	Owned real estate and related adjustments			Other expense													(11)				(7)
Second Quarter 2013
	None																N/A				N/A
First Quarter 2013
	Income tax adjustment			Provision for income taxes													N/A				(281)
				As of / Quarter Ended
				March 31				Dec. 31				Sept. 30				June 30				March 31
				2014				2013				2013				2013				2013
Selected Mortgage Banking Information
	Income statement impact of mortgage servicing rights valuation:
		MSRs fair value increase (decrease)		$	(43)			$	52			$	22			$	101			$	56
		MSRs hedge gains (losses)			45				(48)				(17)				(86)				(46)
			Net	$	2			$	4			$	5			$	15			$	10
	Residential mortgage loan originations			$	3,804			$	5,344			$	8,327			$	9,260			$	8,665
	Residential mortgage servicing portfolio (1):
		Loans serviced for others			88,239				87,434				84,025				80,846				76,830
		Bank-owned loans serviced			33,703				25,401				26,782				26,211				26,962
			Total servicing portfolio		121,942				112,835				110,807				107,057				103,792
	Weighted-average coupon rate				4.23	%			4.24	%			4.24	%			4.32	%			4.45	%
	Weighted-average servicing fee				0.297				0.298				0.301				0.306				0.312
Selected Miscellaneous Information
	Derivatives notional amount			$	63,115			$	59,318			$	62,771			$	64,111			$	75,702
	Fair value of derivatives				(67)				(106)				(160)				(21)				(85)
	Accumulated comprehensive income related to securities,
		net of tax (2)			(204)				(289)				(163)				(81)				255
	Common stock prices:
		High			41.04				37.42				36.59				34.37				31.78
		Low			36.28				32.65				33.30				29.18				29.83
		End of period			40.17				37.32				33.75				33.88				31.39
	Banking offices				1,824				1,825				1,824				1,851				1,842
	ATMs				2,946				2,935				2,941				2,885				2,851
	FTEs				33,765				33,696				33,677				33,869				33,952
(1)	Amounts reported are unpaid principal balance.
(2)	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)			2014				2013				2013				2013				2013
Efficiency ratio - GAAP			61.2	%			61.1	%			62.4	%			59.9	%			57.5	%
	Effect of securities gains (losses), net		―				0.1				―				0.5				0.5
	Effect of merger-related and restructuring charges, net		(0.3)				(0.4)				(0.2)				(1.1)				(0.2)
	Effect of gain on sale of subsidiary		―				0.8				―				―				―
	Effect of FDIC loss share accounting		(0.1)				(0.2)				―				(0.2)				0.5
	Effect of foreclosed property expense		(0.4)				(0.5)				(0.6)				(0.5)				(0.8)
	Effect of owned real estate adjustments		―				―				(0.5)				―				―
	Effect of amortization of intangibles		(1.1)				(1.0)				(1.0)				(1.0)				(1.1)
Efficiency ratio - reported			59.3				59.9				60.1				57.6				56.4
Fee income ratio - GAAP			39.7	%			41.4	%			38.4	%			41.9	%			40.7	%
	Effect of securities gains (losses), net		―				(0.1)				―				(0.5)				(0.5)
	Effect of gain on sale of subsidiary		―				(0.8)				―				―				―
	Effect of FDIC loss share accounting		3.5				3.0				3.2				3.2				2.7
Fee income ratio - reported			43.2				43.5				41.6				44.6				42.9

 

								Quarter Ended
							March 31				Dec. 31				Sept. 30				June 30				March 31
Return on Average Tangible Common Shareholders' Equity (2)							2014				2013				2013				2013				2013
Net income available to common shareholders							$	501			$	537			$	268			$	547			$	210
Plus: Amortization of intangibles, net of tax								14				16				16				17				17
Tangible net income available to common shareholders							$	515			$	553			$	284			$	564			$	227
Average common shareholders' equity							$	20,610			$	19,657			$	19,491			$	19,293			$	19,138
Less: Average intangible assets								7,379				7,397				7,431				7,456				7,464
Average tangible common shareholders' equity							$	13,231			$	12,260			$	12,060			$	11,837			$	11,674
Return on average tangible common shareholders' equity								15.81	%			17.91	%			9.33	%			19.12	%			7.87	%

 

			March 31				Dec. 31				Sept. 30				June 30				March 31
Basel III Common Equity Tier 1 Ratio - Preliminary			2014				2013				2013				2013				2013
Tier 1 common equity under Basel 1			$	14,096			$	13,471			$	13,003			$	12,794			$	12,316
Adjustments				96				98				64				62				48
Common equity Tier 1 under Basel III definition			$	14,192			$	13,569			$	13,067			$	12,856			$	12,364
Estimated risk-weighted assets under Basel III definition			$	142,258			$	140,670			$	142,003			$	142,822			$	140,800
Basel III common equity Tier 1 ratio				10.0	%			9.7	%			9.2	%			9.0	%			8.8	%
																				March 31
Net Charge-offs Excluding Impact of Nonprime Automobile Lending Process Change (Excluding Covered)																				2014
Net charge-offs																			$	156
Less: Impact of nonprime automobile lending process change																				(23)
Net charge-offs, as adjusted																			$	134
Average loans and leases																			$	114,498
Net charge-offs as a percentage of average loans and leases, as adjusted (excluding covered)																				0.47	%

 

			Quarter Ended March 31, 2013												Quarter Ended September 30, 2013
Certain Performance Measures (1)			GAAP				Tax Adj.				Adjusted				GAAP				Tax Adj.				Adjusted
Net income available to common shareholders			$	210			$	281			$	491			$	268			$	235			$	503
Weighted average number of diluted common shares				711,020				―				711,020				716,101				―				716,101
Diluted EPS			$	0.29							$	0.69			$	0.37							$	0.70
Net income			$	256			$	281			$	537			$	309			$	235			$	544
Average assets				182,013				100				182,113				181,021				3				181,024
Return on average assets				0.57	%							1.20	%			0.68	%							1.19	%
Net income			$	256			$	281			$	537			$	309			$	235			$	544
Average risk-weighted assets				136,141				100				136,241				138,276				3				138,279
Return on average risk-weighted  assets				0.76	%							1.60	%			0.89	%							1.56	%
Net income available to common shareholders			$	210			$	281			$	491			$	268			$	235			$	503
Average common shareholders' equity				19,138				100				19,238				19,491				3				19,494
Return on average common shareholders' equity				4.44	%							10.34	%			5.44	%							10.22	%
Tangible net income available to common shareholders			$	227			$	281			$	508			$	284			$	235			$	519
Average tangible common shareholders' equity				11,674				100				11,774				12,060				3				12,063
Return on average tangible common shareholders' equity				7.87	%							17.48	%			9.33	%							17.05	%

(1)	BB&T's management uses these measures in their analysis of the Corporation's performance and 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.

 

  

 

 

 

 

 

 

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