TRUIST FINANCIAL CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

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8-K - 8-K - TRUIST FINANCIAL CORP	earningsrelease8kbody1q16.htm
EX-99.1 - EXHIBIT 99.1 - TRUIST FINANCIAL CORP	exhibit991text1q16.htm
EX-99.3 - EXHIBIT 99.3 - TRUIST FINANCIAL CORP	exhibit993slides1q16.htm

Exhibit 99.2

BB&T Corporation

Quarterly Performance Summary

First Quarter 2016



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 - Five Quarter Trend		5
Consolidated Balance Sheets		7
Consolidated Balance Sheets - Five Quarter Trend		8
Average Balance Sheets		9
Average Balance Sheets - Five Quarter Trend		10
Average Balances and Rates - Quarters		11
Credit Quality		14
Credit Quality - Supplemental Information		17
Preliminary Capital Information - Five Quarter Trend		18
Selected Items & Additional Information		19
Non-GAAP Reconciliations		20

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BB&T Corporation
Financial Highlights
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended
	March 31						%
	2016			2015			Change
Summary Income Statement
Interest income	$	1,760		$	1,528		15.2	%
Interest expense	192			181			6.1
Net interest income - taxable equivalent	1,568			1,347			16.4
Less: Taxable-equivalent adjustment	39			35			11.4
Net interest income	1,529			1,312			16.5
Provision for credit losses	184			99			85.9
Net interest income after provision for credit losses	1,345			1,213			10.9
Noninterest income	1,016			997			1.9
Noninterest expense	1,545			1,422			8.6
Income before income taxes	816			788			3.6
Provision for income taxes	246			241			2.1
Net income	570			547			4.2
Noncontrolling interests	6			22			(72.7	)
Preferred stock dividends	37			37			—
Net income available to common shareholders	527			488			8.0
Per Common Share Data
Earnings:
Basic	$	0.67		$	0.68		(1.5	)%
Diluted	0.67			0.67			—
Cash dividends declared	0.27			0.24			12.5
Common equity	32.14			30.48			5.4
Tangible common equity (1)	20.36			20.13			1.1

End of period shares outstanding	782,379			723,159			8.2
Weighted average shares:
Basic	781,193			721,639			8.3
Diluted	790,176			731,511			8.0
Performance Ratios
Return on average assets	1.09		%	1.18		%
Return on average risk-weighted assets	1.38			1.48
Return on average common shareholders' equity	8.45			9.05
Return on average tangible common shareholders' equity (2)	13.87			14.00
Net interest margin - taxable equivalent	3.43			3.33
Fee income ratio-adjusted (3)	40.6			45.8
Efficiency ratio-adjusted (3)	58.3			58.5
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.42		%	0.40		%
Loans and leases plus foreclosed property	0.67			0.64
Net charge-offs as a percentage of average loans and leases	0.46			0.34
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.10			1.22
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	1.89x			2.45x
Average Balances
Total assets	$	210,102		$	187,297		12.2	%
Total securities (4)	44,580			41,133			8.4
Loans and leases	135,628			120,235			12.8
Deposits	149,867			129,531			15.7
Common shareholders' equity	25,076			21,883			14.6
Shareholders' equity	27,826			24,566			13.3
Period-End Balances
Total assets	$	212,405		$	189,228		12.2	%
Total securities (4)	46,480			42,089			10.4
Loans and leases	136,671			122,027			12.0
Deposits	150,500			131,229			14.7
Common shareholders' equity	25,146			22,039			14.1
Shareholders' equity	28,239			24,738			14.2
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.4		%	10.5		%
Tier 1	12.2			12.2
Total	14.6			14.4
Leverage	10.1			10.1
Tangible common equity to tangible assets (1)	7.8			8.0
Applicable ratios are annualized.
(1) Tangible common equity per share and tangible common equity to tangible assets 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 certain items as detailed in the Non-GAAP Reconciliations section of this supplement.
(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.

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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
	2016			2015			2015			2015			2015
Summary Income Statement
Interest income	$	1,760		$	1,733		$	1,687		$	1,525		$	1,528
Interest expense	192			191			186			177			181
Net interest income - taxable equivalent	1,568			1,542			1,501			1,348			1,347
Less: Taxable-equivalent adjustment	39			38			37			36			35
Net interest income	1,529			1,504			1,464			1,312			1,312
Provision for credit losses	184			129			103			97			99
Net interest income after provision for credit losses	1,345			1,375			1,361			1,215			1,213
Noninterest income	1,016			1,015			988			1,019			997
Noninterest expense	1,545			1,597			1,594			1,653			1,422
Income before income taxes	816			793			755			581			788
Provision for income taxes	246			251			222			80			241
Net income	570			542			533			501			547
Noncontrolling interests	6			3			4			10			22
Preferred stock dividends	37			37			37			37			37
Net income available to common shareholders	527			502			492			454			488
Per Common Share Data
Earnings:
Basic	$	0.67		$	0.64		$	0.64		$	0.63		$	0.68
Diluted	0.67			0.64			0.64			0.62			0.67
Cash dividends declared	0.27			0.27			0.27			0.27			0.24
Common equity	32.14			31.66			31.56			30.64			30.48
Tangible common equity (1)	20.36			19.82			19.77			20.21			20.13

End of period shares outstanding	782,379			780,337			780,150			733,481			723,159
Weighted average shares:
Basic	781,193			780,261			764,435			724,880			721,639
Diluted	790,176			790,244			774,023			734,527			731,511
Performance Ratios
Return on average assets	1.09		%	1.03		%	1.04		%	1.06		%	1.18		%
Return on average risk-weighted assets	1.38			1.29			1.32			1.32			1.48
Return on average common shareholders' equity	8.45			8.06			8.14			8.20			9.05
Return on average tangible common shareholders' equity (2)	13.87			13.37			13.23			12.76			14.00
Net interest margin - taxable equivalent	3.43			3.35			3.35			3.27			3.33
Fee income ratio-adjusted (3)	40.6			41.8			42.1			46.3			45.8
Efficiency ratio-adjusted (3)	58.3			58.8			59.2			59.2			58.5
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.42		%	0.34		%	0.36		%	0.38		%	0.40		%
Loans and leases plus foreclosed property	0.67			0.52			0.55			0.60			0.64
Net charge-offs as a percentage of average loans and leases	0.46			0.38			0.32			0.33			0.34
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.10			1.07			1.08			1.19			1.22
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	1.89x			2.53x			2.49x			2.55x			2.45x
Average Balances
Total assets	$	210,102		$	209,217		$	203,531		$	189,033		$	187,297
Total securities (4)	44,580			43,468			43,048			40,727			41,133
Loans and leases	135,628			136,190			132,499			122,056			120,235
Deposits	149,867			148,491			143,837			131,868			129,531
Common shareholders' equity	25,076			24,736			23,957			22,210			21,883
Shareholders' equity	27,826			27,378			26,612			24,888			24,566
Period-End Balances
Total assets	$	212,405		$	209,947		$	208,809		$	191,017		$	189,228
Total securities (4)	46,480			43,827			43,494			40,620			42,089
Loans and leases	136,671			136,986			136,967			124,770			122,027
Deposits	150,500			149,124			147,827			132,783			131,229
Common shareholders' equity	25,146			24,703			24,621			22,477			22,039
Shareholders' equity	28,239			27,340			27,264			25,132			24,738
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.4		%	10.3		%	10.1		%	10.4		%	10.5		%
Tier 1	12.2			11.8			11.7			12.1			12.2
Total	14.6			14.3			14.2			14.2			14.4
Leverage	10.1			9.8			9.9			10.2			10.1
Tangible common equity to tangible assets (1)	7.8			7.7			7.7			8.1			8.0
Applicable ratios are annualized.
(1) Tangible common equity per share and tangible common equity to tangible assets 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 certain items as detailed in the Non-GAAP Reconciliations section of this supplement.
(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.

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BB&T Corporation
Consolidated Statements of Income
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended
	March 31						Change
	2016			2015			$			%
Interest Income
Interest and fees on loans and leases	$	1,442		$	1,237		$	205		16.6%
Interest and dividends on securities	255			240			15			6.3
Interest on other earning assets	24			16			8			50.0
Total interest income	1,721			1,493			228			15.3
Interest Expense
Interest on deposits	64			55			9			16.4
Interest on short-term borrowings	2			1			1			100.0
Interest on long-term debt	126			125			1			0.8
Total interest expense	192			181			11			6.1
Net Interest Income	1,529			1,312			217			16.5
Provision for credit losses	184			99			85			85.9
Net Interest Income After Provision for Credit Losses	1,345			1,213			132			10.9
Noninterest Income
Insurance income	419			440			(21		)	(4.8)
Service charges on deposits	154			145			9			6.2
Mortgage banking income	91			110			(19		)	(17.3)
Investment banking and brokerage fees and commissions	97			94			3			3.2
Trust and investment advisory revenues	62			56			6			10.7
Bankcard fees and merchant discounts	56			50			6			12.0
Checkcard fees	45			39			6			15.4
Operating lease income	34			29			5			17.2
Income from bank-owned life insurance	31			30			1			3.3
FDIC loss share income, net	(60		)	(79		)	19			(24.1)
Securities gains (losses), net	45			—			45			NM
Other income	42			83			(41		)	(49.4)
Total noninterest income	1,016			997			19			1.9
Noninterest Expense
Personnel expense	915			830			85			10.2
Occupancy and equipment expense	191			167			24			14.4
Software expense	51			44			7			15.9
Loan-related expense	32			38			(6		)	(15.8)
Outside IT services	41			30			11			36.7
Professional services	22			24			(2		)	(8.3)
Amortization of intangibles	32			21			11			52.4
Regulatory charges	30			23			7			30.4
Foreclosed property expense	11			13			(2		)	(15.4)
Merger-related and restructuring charges, net	23			13			10			76.9
Loss (gain) on early extinguishment of debt	(1		)	—			(1		)	NM
Other expense	198			219			(21		)	(9.6)
Total noninterest expense	1,545			1,422			123			8.6
Earnings
Income before income taxes	816			788			28			3.6
Provision for income taxes	246			241			5			2.1
Net income	570			547			23			4.2
Noncontrolling interests	6			22			(16		)	(72.7)
Preferred stock dividends	37			37			—			—
Net income available to common shareholders	$	527		$	488		$	39		8.0%
Earnings Per Common Share
Basic	$	0.67		$	0.68		(0.01		)	(1.5	)%
Diluted	0.67			0.67			—			—
Weighted Average Shares Outstanding
Basic	781,193			721,639			59,554			8.3
Diluted	790,176			731,511			58,665			8.0
NM - not meaningful.

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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
	2016			2015			2015			2015			2015
Interest Income
Interest and fees on loans and leases	$	1,442		$	1,449		$	1,412		$	1,249		$	1,237
Interest and dividends on securities	255			237			232			232			240
Interest on other earning assets	24			9			6			8			16
Total interest income	1,721			1,695			1,650			1,489			1,493
Interest Expense
Interest on deposits	64			62			61			55			55
Interest on short-term borrowings	2			1			1			1			1
Interest on long-term debt	126			128			124			121			125
Total interest expense	192			191			186			177			181
Net Interest Income	1,529			1,504			1,464			1,312			1,312
Provision for credit losses	184			129			103			97			99
Net Interest Income After Provision for Credit Losses	1,345			1,375			1,361			1,215			1,213
Noninterest Income
Insurance income	419			380			354			422			440
Service charges on deposits	154			165			167			154			145
Mortgage banking income	91			104			111			130			110
Investment banking and brokerage fees and commissions	97			91			105			108			94
Trust and investment advisory revenues	62			64			63			57			56
Bankcard fees and merchant discounts	56			56			57			55			50
Checkcard fees	45			47			45			43			39
Operating lease income	34			33			32			30			29
Income from bank-owned life insurance	31			27			29			27			30
FDIC loss share income, net	(60		)	(52		)	(58		)	(64		)	(79		)
Securities gains (losses), net	45			—			(2		)	(1		)	—
Other income	42			100			85			58			83
Total noninterest income	1,016			1,015			988			1,019			997
Noninterest Expense
Personnel expense	915			893			882			864			830
Occupancy and equipment expense	191			192			183			166			167
Software expense	51			52			50			46			44
Loan-related expense	32			37			38			37			38
Outside IT services	41			41			35			29			30
Professional services	22			29			42			35			24
Amortization of intangibles	32			32			29			23			21
Regulatory charges	30			28			25			25			23
Foreclosed property expense	11			11			15			14			13
Merger-related and restructuring charges, net	23			50			77			25			13
Loss (gain) on early extinguishment of debt	(1		)	—			—			172			—
Other expense	198			232			218			217			219
Total noninterest expense	1,545			1,597			1,594			1,653			1,422
Earnings
Income before income taxes	816			793			755			581			788
Provision for income taxes	246			251			222			80			241
Net income	570			542			533			501			547
Noncontrolling interests	6			3			4			10			22
Preferred stock dividends	37			37			37			37			37
Net income available to common shareholders	$	527		$	502		$	492		$	454		$	488
Earnings Per Common Share
Basic	$	0.67		$	0.64		$	0.64		$	0.63		$	0.68
Diluted	0.67			0.64			0.64			0.62			0.67
Weighted Average Shares Outstanding
Basic	781,193			780,261			764,435			724,880			721,639
Diluted	790,176			790,244			774,023			734,527			731,511

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BB&T Corporation
Lines of Business Financial Performance - Preliminary
(Dollars in millions)

	Quarter Ended
Community Banking	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	530		$	493		$	450		$	432		$	426
Net intersegment interest income (expense)	389			362			322			305			283
Segment net interest income	919			855			772			737			709
Allocated provision (benefit) for credit losses	(10		)	39			4			11			13
Noninterest income	288			301			304			290			271
Intersegment net referral fees (expenses)	30			30			35			39			31
Noninterest expense	422			404			382			373			358
Amortization of intangibles	5			5			5			7			6
Allocated corporate expenses	332			309			305			306			305
Income (loss) before income taxes	488			429			415			369			329
Provision (benefit) for income taxes	178			157			152			135			120
Segment net income (loss)	$	310		$	272		$	263		$	234		$	209
Identifiable segment assets (period end)	$	66,504		$	68,245		$	57,494		$	56,911		$	55,277

	Quarter Ended
Residential Mortgage Banking	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	332		$	336		$	337		$	343		$	341
Net intersegment interest income (expense)	(227		)	(225		)	(221		)	(227		)	(232		)
Segment net interest income	105			111			116			116			109
Allocated provision (benefit) for credit losses	11			8			10			3			(12		)
Noninterest income	71			78			93			100			84
Intersegment net referral fees (expenses)	—			1			1			(1		)	1
Noninterest expense	76			78			85			78			80
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	26			25			22			23			23
Income (loss) before income taxes	63			79			93			111			103
Provision (benefit) for income taxes	24			30			35			42			39
Segment net income (loss)	$	39		$	49		$	58		$	69		$	64
Identifiable segment assets (period end)	$	33,208		$	33,407		$	32,973		$	34,218		$	34,323

	Quarter Ended
Dealer Financial Services	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	229		$	231		$	221		$	216		$	213
Net intersegment interest income (expense)	(40		)	(39		)	(38		)	(38		)	(38		)
Segment net interest income	189			192			183			178			175
Allocated provision (benefit) for credit losses	76			77			67			48			61
Noninterest income	1			—			—			—			—
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	35			40			38			41			32
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	11			9			10			10			9
Income (loss) before income taxes	68			66			68			79			73
Provision (benefit) for income taxes	26			25			26			30			28
Segment net income (loss)	$	42		$	41		$	42		$	49		$	45
Identifiable segment assets (period end)	$	14,692		$	15,130		$	13,794		$	13,906		$	14,012

	Quarter Ended
Specialized Lending	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	178		$	178		$	171		$	153		$	146
Net intersegment interest income (expense)	(68		)	(65		)	(62		)	(56		)	(54		)
Segment net interest income	110			113			109			97			92
Allocated provision (benefit) for credit losses	18			12			8			11			12
Noninterest income	65			71			58			71			61
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	65			71			62			64			57
Amortization of intangibles	1			1			1			1			1
Allocated corporate expenses	18			16			17			15			15
Income (loss) before income taxes	73			84			79			77			68
Provision (benefit) for income taxes	17			21			19			19			15
Segment net income (loss)	$	56		$	63		$	60		$	58		$	53
Identifiable segment assets (period end)	$	18,186		$	18,274		$	17,700		$	17,108		$	16,137
Lines of business results are preliminary.

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BB&T Corporation
Lines of Business Financial Performance - Preliminary
(Dollars in millions)

	Quarter Ended
Insurance Holdings	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	—		$	—		$	1		$	—		$	1
Net intersegment interest income (expense)	1			2			2			1			2
Segment net interest income	1			2			3			1			3
Allocated provision (benefit) for credit losses	—			—			—			—			—
Noninterest income	421			388			353			425			442
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	299			295			284			310			302
Amortization of intangibles	11			12			12			11			12
Allocated corporate expenses	28			24			25			25			25
Income (loss) before income taxes	84			59			35			80			106
Provision (benefit) for income taxes	31			23			14			27			34
Segment net income (loss)	$	53		$	36		$	21		$	53		$	72
Identifiable segment assets (period end)	$	2,800		$	2,804		$	2,668		$	2,907		$	2,811

	Quarter Ended
Financial Services	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	62		$	60		$	54		$	53		$	50
Net intersegment interest income (expense)	88			85			81			76			71
Segment net interest income	150			145			135			129			121
Allocated provision (benefit) for credit losses	90			(2		)	21			23			24
Noninterest income	197			210			225			212			202
Intersegment net referral fees (expenses)	3			11			5			3			3
Noninterest expense	181			168			176			177			162
Amortization of intangibles	1			1			1			—			1
Allocated corporate expenses	37			34			34			34			34
Income (loss) before income taxes	41			165			133			110			105
Provision (benefit) for income taxes	15			62			50			42			39
Segment net income (loss)	$	26		$	103		$	83		$	68		$	66
Identifiable segment assets (period end)	$	17,816		$	16,429		$	15,493		$	14,543		$	14,067

	Quarter Ended
Other, Treasury & Corporate (1)	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	198		$	206		$	230		$	115		$	135
Net intersegment interest income (expense)	(143		)	(120		)	(84		)	(61		)	(32		)
Segment net interest income	55			86			146			54			103
Allocated provision (benefit) for credit losses	(1		)	(5		)	(7		)	1			1
Noninterest income	(27		)	(33		)	(45		)	(79		)	(63		)
Intersegment net referral fees (expenses)	(33		)	(42		)	(41		)	(41		)	(35		)
Noninterest expense	435			509			538			587			410
Amortization of intangibles	14			13			10			4			1
Allocated corporate expenses	(452		)	(417		)	(413		)	(413		)	(411		)
Income (loss) before income taxes	(1		)	(89		)	(68		)	(245		)	4
Provision (benefit) for income taxes	(45		)	(67		)	(74		)	(215		)	(34		)
Segment net income (loss)	$	44		$	(22	)	$	6		$	(30	)	$	38
Identifiable segment assets (period end)	$	59,199		$	55,658		$	68,687		$	51,424		$	52,601

	Quarter Ended
Total BB&T Corporation	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Net interest income (expense)	$	1,529		$	1,504		$	1,464		$	1,312		$	1,312
Net intersegment interest income (expense)	—			—			—			—			—
Segment net interest income	1,529			1,504			1,464			1,312			1,312
Allocated provision (benefit) for credit losses	184			129			103			97			99
Noninterest income	1,016			1,015			988			1,019			997
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	1,513			1,565			1,565			1,630			1,401
Amortization of intangibles	32			32			29			23			21
Allocated corporate expenses	—			—			—			—			—
Income (loss) before income taxes	816			793			755			581			788
Provision (benefit) for income taxes	246			251			222			80			241
Segment net income (loss)	$	570		$	542		$	533		$	501		$	547
Identifiable segment assets (period end)	$	212,405		$	209,947		$	208,809		$	191,017		$	189,228
(1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

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BB&T Corporation
Consolidated Balance Sheets
(Dollars in millions)
	As of March 31						Change
	2016			2015			$			%
Assets
Cash and due from banks	$	1,825		$	1,452		$	373		25.7	%
Interest-bearing deposits with banks	786			325			461			141.8
Federal funds sold and similar arrangements	167			222			(55		)	(24.8	)
Restricted cash	666			513			153			29.8
Securities available for sale at fair value	27,129			21,674			5,455			25.2
Securities held to maturity at amortized cost	19,351			20,415			(1,064		)	(5.2	)
Loans and leases:
Commercial:
Commercial and industrial	48,727			42,294			6,433			15.2
Commercial real estate-income producing properties	13,728			10,719			3,009			28.1
Commercial real estate-construction and development	3,416			2,655			761			28.7
Dealer floor plan	1,266			1,008			258			25.6
Direct retail lending	11,085			8,288			2,797			33.7
Sales finance	9,784			9,605			179			1.9
Revolving credit	2,449			2,390			59			2.5
Residential mortgage	29,998			30,533			(535		)	(1.8	)
Other lending subsidiaries	13,587			11,304			2,283			20.2
Acquired from FDIC and PCI	1,056			1,110			(54		)	(4.9	)
Total loans and leases held for investment	135,096			119,906			15,190			12.7
Loans held for sale	1,575			2,121			(546		)	(25.7	)
Total loans and leases	136,671			122,027			14,644			12.0
Allowance for loan and lease losses	(1,488		)	(1,464		)	(24		)	1.6
Premises and equipment	2,001			1,879			122			6.5
Goodwill	8,559			6,950			1,609			23.2
Core deposit and other intangible assets	656			530			126			23.8
Mortgage servicing rights at fair value	860			764			96			12.6
Other assets	15,222			13,941			1,281			9.2
Total assets	$	212,405		$	189,228		$	23,177		12.2	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	47,258			41,414			5,844			14.1	%
Interest checking	25,915			21,070			4,845			23.0
Money market and savings	60,349			53,198			7,151			13.4
Time deposits	16,978			15,547			1,431			9.2
Total deposits	150,500			131,229			19,271			14.7
Short-term borrowings	4,130			3,130			1,000			31.9
Long-term debt	22,823			23,437			(614		)	(2.6	)
Accounts payable and other liabilities	6,713			6,694			19			0.3
Total liabilities	184,166			164,490			19,676			12.0
Shareholders' equity:
Preferred stock	3,054			2,603			451			17.3
Common stock	3,912			3,616			296			8.2
Additional paid-in capital	8,360			6,524			1,836			28.1
Retained earnings	13,791			12,632			1,159			9.2
Accumulated other comprehensive loss	(917		)	(733		)	(184		)	25.1
Noncontrolling interests	39			96			(57		)	(59.4	)
Total shareholders' equity	28,239			24,738			3,501			14.2
Total liabilities and shareholders' equity	$	212,405		$	189,228		$	23,177		12.2	%

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BB&T Corporation
Consolidated Balance Sheets - Five Quarter Trend
(Dollars in millions)
	As of
	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Assets
Cash and due from banks	$	1,825		$	2,123		$	1,538		$	1,607		$	1,452
Interest-bearing deposits with banks	786			1,435			1,115			824			325
Federal funds sold and similar arrangements	167			153			127			190			222
Restricted cash	666			456			578			379			513
Securities available for sale at fair value	27,129			25,297			24,249			21,183			21,674
Securities held to maturity at amortized cost	19,351			18,530			19,245			19,437			20,415
Loans and leases:
Commercial:
Commercial and industrial	48,727			48,430			48,095			43,607			42,294
Commercial real estate-income producing properties	13,728			13,421			13,313			11,132			10,719
Commercial real estate-construction and development	3,416			3,732			3,807			2,874			2,655
Dealer floor plan	1,266			1,215			1,093			1,066			1,008
Direct retail lending	11,085			11,140			10,626			8,675			8,288
Sales finance	9,784			10,327			10,772			9,427			9,605
Revolving credit	2,449			2,510			2,429			2,407			2,390
Residential mortgage	29,998			30,533			31,070			30,054			30,533
Other lending subsidiaries	13,587			13,521			13,235			12,067			11,304
Acquired from FDIC and PCI	1,056			1,122			1,075			992			1,110
Total loans and leases held for investment	135,096			135,951			135,515			122,301			119,906
Loans held for sale	1,575			1,035			1,452			2,469			2,121
Total loans and leases	136,671			136,986			136,967			124,770			122,027
Allowance for loan and lease losses	(1,488		)	(1,460		)	(1,458		)	(1,457		)	(1,464		)
Premises and equipment	2,001			2,007			2,038			1,900			1,879
Goodwill	8,559			8,548			8,498			7,141			6,950
Core deposit and other intangible assets	656			686			700			514			530
Mortgage servicing rights at fair value	860			880			848			912			764
Other assets	15,222			14,306			14,364			13,617			13,941
Total assets	$	212,405		$	209,947		$	208,809		$	191,017		$	189,228
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	47,258		$	45,695		$	44,700		$	42,234		$	41,414
Interest checking	25,915			25,410			23,574			20,843			21,070
Money market and savings	60,349			60,461			61,689			55,269			53,198
Time deposits	16,978			17,558			17,864			14,437			15,547
Total deposits	150,500			149,124			147,827			132,783			131,229
Short-term borrowings	4,130			3,593			2,581			3,883			3,130
Long-term debt	22,823			23,769			24,883			23,271			23,437
Accounts payable and other liabilities	6,713			6,121			6,254			5,948			6,694
Total liabilities	184,166			182,607			181,545			165,885			164,490
Shareholders' equity:
Preferred stock	3,054			2,603			2,603			2,603			2,603
Common stock	3,912			3,902			3,901			3,667			3,616
Additional paid-in capital	8,360			8,365			8,344			6,667			6,524
Retained earnings	13,791			13,464			13,172			12,891			12,632
Accumulated other comprehensive loss	(917		)	(1,028		)	(796		)	(748		)	(733		)
Noncontrolling interests	39			34			40			52			96
Total shareholders' equity	28,239			27,340			27,264			25,132			24,738
Total liabilities and shareholders' equity	$	212,405		$	209,947		$	208,809		$	191,017		$	189,228

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BB&T Corporation
Average Balance Sheets
(Dollars in millions)
	Quarter Ended
	March 31				Change
	2016		2015		$			%
Assets
Securities at amortized cost (1):
U.S. Treasury	$	2,777	$	2,497	$	280		11.2	%
U.S. government-sponsored entities (GSE)	5,065		5,394		(329		)	(6.1	)
Mortgage-backed securities issued by GSE	33,774		29,679		4,095			13.8
States and political subdivisions	1,989		1,823		166			9.1
Non-agency mortgage-backed	166		228		(62		)	(27.2	)
Other	62		643		(581		)	(90.4	)
Acquired from FDIC	747		869		(122		)	(14.0	)
Total securities	44,580		41,133		3,447			8.4
Other earning assets	3,404		1,999		1,405			70.3
Loans and leases:
Commercial:
Commercial and industrial	48,013		41,448		6,565			15.8
CRE-income producing properties	13,490		10,680		2,810			26.3
CRE-construction and development	3,619		2,734		885			32.4
Dealer floor plan	1,239		1,040		199			19.1
Direct retail lending	11,107		8,191		2,916			35.6
Sales finance	10,049		9,458		591			6.2
Revolving credit	2,463		2,385		78			3.3
Residential mortgage	29,864		30,427		(563		)	(1.9	)
Other lending subsidiaries	13,439		11,318		2,121			18.7
Acquired from FDIC and PCI	1,098		1,156		(58		)	(5.0	)
Total loans and leases held for investment	134,381		118,837		15,544			13.1
Loans held for sale	1,247		1,398		(151		)	(10.8	)
Total loans and leases	135,628		120,235		15,393			12.8
Total earning assets	183,612		163,367		20,245			12.4
Nonearning assets	26,490		23,930		2,560			10.7
Total assets	$	210,102	$	187,297	$	22,805		12.2	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	46,203	$	39,701	$	6,502		16.4	%
Interest checking	25,604		20,623		4,981			24.2
Money market and savings	60,424		51,644		8,780			17.0
Time deposits	16,884		17,000		(116		)	(0.7	)
Foreign office deposits - interest-bearing	752		563		189			33.6
Total deposits	149,867		129,531		20,336			15.7
Short-term borrowings	2,771		3,539		(768		)	(21.7	)
Long-term debt	22,907		23,043		(136		)	(0.6	)
Accounts payable and other liabilities	6,731		6,618		113			1.7
Total liabilities	182,276		162,731		19,545			12.0
Shareholders' equity	27,826		24,566		3,260			13.3
Total liabilities and shareholders' equity	$	210,102	$	187,297	$	22,805		12.2	%
Average balances exclude basis adjustments for fair value hedges.
(1) Excludes trading securities.

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BB&T Corporation
Average Balance Sheets - Five Quarter Trend
(Dollars in millions)
	Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
	2016		2015		2015		2015		2015
Assets
Securities at amortized cost (1):
U.S. Treasury	$	2,777	$	2,794	$	2,745	$	2,561	$	2,497
U.S. government-sponsored entities (GSE)	5,065		5,165		5,395		5,400		5,394
Mortgage-backed securities issued by GSE	33,774		32,442		31,329		29,245		29,679
States and political subdivisions	1,989		2,019		1,975		1,834		1,823
Non-agency mortgage-backed	166		201		211		220		228
Other	62		64		579		623		643
Acquired from FDIC	747		783		814		844		869
Total securities	44,580		43,468		43,048		40,727		41,133
Other earning assets	3,404		3,493		2,917		2,645		1,999
Loans and leases:
Commercial:
Commercial and industrial	48,013		48,047		46,462		42,541		41,448
CRE-income producing properties	13,490		13,264		12,514		10,730		10,680
CRE-construction and development	3,619		3,766		3,502		2,767		2,734
Dealer floor plan	1,239		1,164		1,056		1,010		1,040
Direct retail lending	11,107		10,896		9,926		8,449		8,191
Sales finance	10,049		10,533		10,386		9,507		9,458
Revolving credit	2,463		2,458		2,421		2,365		2,385
Residential mortgage	29,864		30,334		30,384		29,862		30,427
Other lending subsidiaries	13,439		13,281		12,837		11,701		11,318
Acquired from FDIC and PCI	1,098		1,070		1,052		1,055		1,156
Total loans and leases held for investment	134,381		134,813		130,540		119,987		118,837
Loans held for sale	1,247		1,377		1,959		2,069		1,398
Total loans and leases	135,628		136,190		132,499		122,056		120,235
Total earning assets	183,612		183,151		178,464		165,428		163,367
Nonearning assets	26,490		26,066		25,067		23,605		23,930
Total assets	$	210,102	$	209,217	$	203,531	$	189,033	$	187,297
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	46,203	$	45,824	$	44,153	$	41,502	$	39,701
Interest checking	25,604		24,157		22,593		20,950		20,623
Money market and savings	60,424		61,431		59,306		53,852		51,644
Time deposits	16,884		16,981		16,837		14,800		17,000
Foreign office deposits - interest-bearing	752		98		948		764		563
Total deposits	149,867		148,491		143,837		131,868		129,531
Short-term borrowings	2,771		2,698		3,572		3,080		3,539
Long-term debt	22,907		24,306		23,394		22,616		23,043
Accounts payable and other liabilities	6,731		6,344		6,116		6,581		6,618
Total liabilities	182,276		181,839		176,919		164,145		162,731
Shareholders' equity	27,826		27,378		26,612		24,888		24,566
Total liabilities and shareholders' equity	$	210,102	$	209,217	$	203,531	$	189,033	$	187,297
Average balances exclude basis adjustments for fair value hedges.
(1) Excludes trading securities.

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BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
	Quarter Ended
	March 31, 2016						December 31, 2015
	(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	$	2,777	$	12	1.70	%	$	2,794	$	12	1.67	%
U.S. government-sponsored entities (GSE)	5,065		27		2.11		5,165		27		2.12
Mortgage-backed securities issued by GSE	33,774		167		1.98		32,442		156		1.94
States and political subdivisions	1,989		26		5.30		2,019		28		5.42
Non-agency mortgage-backed	166		3		8.27		201		5		8.53
Other	62		—		1.57		64		—		1.25
Acquired from FDIC	747		32		17.20		783		22		11.34
Total securities	44,580		267		2.40		43,468		250		2.30
Other earning assets	3,404		25		2.87		3,493		8		0.90
Loans and leases:
Commercial:
Commercial and industrial	48,013		392		3.29		48,047		387		3.20
CRE-income producing properties	13,490		127		3.77		13,264		135		4.02
CRE-construction and development	3,619		34		3.75		3,766		36		3.80
Dealer floor plan	1,239		6		2.02		1,164		6		1.89
Direct retail lending	11,107		118		4.23		10,896		108		3.97
Sales finance	10,049		75		3.01		10,533		76		2.86
Revolving credit	2,463		54		8.82		2,458		55		8.81
Residential mortgage	29,864		305		4.10		30,334		316		4.17
Other lending subsidiaries	13,439		286		8.56		13,281		287		8.57
Acquired from FDIC and PCI	1,098		59		21.69		1,070		56		20.85
Total loans and leases held for investment	134,381		1,456		4.35		134,813		1,462		4.31
Loans held for sale	1,247		12		3.77		1,377		13		3.73
Total loans and leases	135,628		1,468		4.35		136,190		1,475		4.31
Total earning assets	183,612		1,760		3.85		183,151		1,733		3.77
Nonearning assets	26,490						26,066
Total assets	$	210,102					$	209,217
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	25,604	8		0.13		$	24,157	6		0.09
Money market and savings	60,424		32		0.21		61,431		32		0.21
Time deposits	16,884		23		0.55		16,981		24		0.58
Foreign office deposits - interest-bearing	752		1		0.36		98		—		0.34
Total interest-bearing deposits	103,664		64		0.25		102,667		62		0.24
Short-term borrowings	2,771		2		0.36		2,698		1		0.17
Long-term debt	22,907		126		2.19		24,306		128		2.11
Total interest-bearing liabilities	129,342		192		0.60		129,671		191		0.59
Noninterest-bearing deposits	46,203						45,824
Accounts payable and other liabilities	6,731						6,344
Shareholders' equity	27,826						27,378
Total liabilities and shareholders' equity	$	210,102					$	209,217
Average interest-rate spread					3.25						3.18

Net interest income/ net interest margin			$	1,568	3.43	%			$	1,542	3.35	%
Taxable-equivalent adjustment			$	39					$	38
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.

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BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
	Quarter Ended
	September 30, 2015						June 30, 2015						March 31, 2015
	(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	$	2,745	$	11	1.60	%	$	2,561	$	10	1.56	%	$	2,497	$	9	1.49	%
U.S. government-sponsored entities (GSE)	5,395		29		2.13		5,400		28		2.13		5,394		29		2.13
Mortgage-backed securities issued by GSE	31,329		147		1.89		29,245		149		2.05		29,679		153		2.04
States and political subdivisions	1,975		27		5.49		1,834		27		5.80		1,823		26		5.80
Non-agency mortgage-backed	211		4		8.45		220		5		7.88		228		4		7.87
Other	579		3		1.42		623		2		1.11		643		2		1.39
Acquired from FDIC	814		24		11.57		844		24		11.36		869		31		14.46
Total securities	43,048		245		2.27		40,727		245		2.41		41,133		254		2.47
Other earning assets	2,917		7		0.97		2,645		7		1.19		1,999		16		3.13
Loans and leases:
Commercial:
Commercial and industrial	46,462		386		3.30		42,541		335		3.15		41,448		326		3.19
CRE-income producing properties	12,514		118		3.74		10,730		90		3.37		10,680		89		3.39
CRE-construction and development	3,502		33		3.73		2,767		23		3.31		2,734		22		3.32
Dealer floor plan	1,056		4		1.91		1,010		5		1.81		1,040		5		1.80
Direct retail lending	9,926		105		4.18		8,449		86		4.04		8,191		82		4.08
Sales finance	10,386		83		3.14		9,507		64		2.70		9,458		63		2.72
Revolving credit	2,421		53		8.70		2,365		51		8.68		2,385		52		8.85
Residential mortgage	30,384		319		4.18		29,862		308		4.14		30,427		312		4.11
Other lending subsidiaries	12,837		276		8.56		11,701		255		8.72		11,318		249		8.92
Acquired from FDIC and PCI	1,052		40		14.87		1,055		38		14.66		1,156		45		15.85
Total loans and leases held for investment	130,540		1,417		4.31		119,987		1,255		4.19		118,837		1,245		4.24
Loans held for sale	1,959		18		3.75		2,069		18		3.48		1,398		13		3.61
Total loans and leases	132,499		1,435		4.31		122,056		1,273		4.18		120,235		1,258		4.23
Total earning assets	178,464		1,687		3.76		165,428		1,525		3.69		163,367		1,528		3.77
Nonearning assets	25,067						23,605						23,930
Total assets	$	203,531					$	189,033					$	187,297
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	22,593	4		0.08		$	20,950	4		0.08		$	20,623	4		0.07
Money market and savings	59,306		30		0.20		53,852		23		0.18		51,644		22		0.17
Time deposits	16,837		26		0.61		14,800		28		0.72		17,000		29		0.71
Foreign office deposits - interest-bearing	948		1		0.13		764		—		0.09		563		—		0.08
Total interest-bearing deposits	99,684		61		0.24		90,366		55		0.24		89,830		55		0.25
Short-term borrowings	3,572		2		0.15		3,080		1		0.16		3,539		1		0.11
Long-term debt	23,394		123		2.12		22,616		121		2.14		23,043		125		2.18
Total interest-bearing liabilities	126,650		186		0.59		116,062		177		0.61		116,412		181		0.63
Noninterest-bearing deposits	44,153						41,502						39,701
Accounts payable and other liabilities	6,116						6,581						6,618
Shareholders' equity	26,612						24,888						24,566
Total liabilities and shareholders' equity	$	203,531					$	189,033					$	187,297
Average interest-rate spread					3.17						3.08						3.14

Net interest income/ net interest margin			$	1,501	3.35	%			$	1,348	3.27	%			$	1,347	3.33	%
Taxable-equivalent adjustment			$	37					$	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.

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BB&T Corporation
Credit Quality
(Dollars in millions)
	As of
	March 31		Dec. 31		Sept. 30		June 30		March 31
	2016		2015		2015		2015		2015
Nonperforming Assets (1)
Nonaccrual loans and leases:
Commercial:
Commercial and industrial	$	442	$	237	$	211	$	198	$	230
CRE-income producing properties	48		38		45		59		63
CRE-construction and development	11		13		24		16		18
Dealer floor plan	—		—		7		7		—
Direct retail lending	51		43		39		41		47
Sales finance	7		7		6		6		7
Residential mortgage (2)	163		173		196		188		183
Other lending subsidiaries	64		65		57		57		51
Total nonaccrual loans and leases held for investment (2)	786		576		585		572		599
Foreclosed real estate	66		82		85		86		90
Foreclosed real estate-acquired from FDIC and PCI	23		26		45		47		53
Other foreclosed property	28		28		29		24		23
Total nonperforming assets (1)(2)	$	903	$	712	$	744	$	729	$	765
Performing Troubled Debt Restructurings (TDRs) (3)
Commercial:
Commercial and industrial	$	52	$	49	$	54	$	75	$	54
CRE-income producing properties	18		13		12		21		15
CRE-construction and development	13		16		14		23		25
Direct retail lending	70		72		75		81		84
Sales finance	17		17		18		18		18
Revolving credit	32		33		34		36		38
Residential mortgage-nonguaranteed	281		288		275		273		269
Residential mortgage-government guaranteed	317		316		321		328		325
Other lending subsidiaries	181		178		173		172		168
Total performing TDRs (3)	$	981	$	982	$	976	$	1,027	$	996
Loans 90 Days or More Past Due and Still Accruing
Direct retail lending	$	6	$	7	$	12	$	10	$	9
Sales finance	4		5		4		4		3
Revolving credit	10		10		9		9		10
Residential mortgage-nonguaranteed	55		55		61		60		59
Residential mortgage-government guaranteed (4)	111		121		128		154		157
Acquired from FDIC and PCI	100		114		167		124		154
Total loans 90 days past due and still accruing (4)	$	286	$	312	$	381	$	361	$	392
Loans 30-89 Days Past Due
Commercial:
Commercial and industrial	$	27	$	36	$	26	$	16	$	20
CRE-income producing properties	7		13		6		4		7
CRE-construction and development	6		9		2		3		2
Direct retail lending	48		58		46		41		40
Sales finance	53		72		63		53		49
Revolving credit	18		22		20		19		19
Residential mortgage-nonguaranteed	350		397		368		362		356
Residential mortgage-government guaranteed (5)	64		75		73		74		68
Other lending subsidiaries	207		304		274		230		151
Acquired from FDIC and PCI	43		42		28		31		47
Total loans 30-89 days past due (5)	$	823	$	1,028	$	906	$	833	$	759
Excludes loans held for sale.
(1) Loans acquired from the FDIC and PCI are accounted for using the accretion method.
(2) During the first quarter of 2016, approximately $32 million of nonaccrual residential mortgage loans were sold. During the fourth quarter of 2015, approximately $50 million of nonaccrual residential mortgage loans were sold.
(3) Excludes TDRs that are nonperforming totaling $172 million, $146 million, $154 million, $127 million, and $127 million at March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively. These amounts are included in total nonperforming assets.
(4) Excludes government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase that are past due 90 days or more totaling $323 million, $365 million, $353 million, $338 million and $361 million at March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.
(5) Excludes government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase that are past due 30-89 days totaling $2 million, $2 million, $3 million, $3 million and $2 million at March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.

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BB&T Corporation
Credit Quality
(Dollars in millions)
	As of/For the Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Allowance for Credit Losses
Beginning balance	$	1,550		$	1,551		$	1,535		$	1,532		$	1,534
Provision for credit losses (excluding loans acquired from FDIC and PCI)	182			128			100			97			105
Provision (benefit) for loans acquired from FDIC and PCI	2			1			3			—			(6		)
Charge-offs:
Commercial:
Commercial and industrial	(56		)	(19		)	(16		)	(32		)	(14		)
CRE—income producing properties	(2		)	(3		)	(4		)	(4		)	(9		)
CRE—construction and development	—			(1		)	(1		)	—			(2		)
Direct retail lending	(13		)	(14		)	(15		)	(13		)	(12		)
Sales finance	(8		)	(10		)	(5		)	(5		)	(6		)
Revolving credit	(19		)	(16		)	(17		)	(19		)	(18		)
Residential mortgage-nonguaranteed	(7		)	(14		)	(7		)	(8		)	(11		)
Residential mortgage-government guaranteed	(1		)	(2		)	(3		)	(1		)	—
Other lending subsidiaries	(92		)	(85		)	(77		)	(57		)	(67		)
Acquired from FDIC and PCI	—			—			—			—			(1		)
Total charge-offs	(198		)	(164		)	(145		)	(139		)	(140		)
Recoveries:
Commercial:
Commercial and industrial	12			8			8			13			8
CRE—income producing properties	3			1			3			1			2
CRE—construction and development	1			2			3			2			4
Direct retail lending	7			6			8			7			8
Sales finance	3			2			2			2			3
Revolving credit	5			5			5			5			5
Residential mortgage-nonguaranteed	1			1			1			1			—
Other lending subsidiaries	12			9			8			10			9
Total recoveries	44			34			38			41			39
Net charge-offs	(154		)	(130		)	(107		)	(98		)	(101		)
Other	—			—			20			4			—
Ending balance	$	1,580		$	1,550		$	1,551		$	1,535		$	1,532
Allowance for Credit Losses
Allowance for loan and lease losses (excluding loans acquired from the FDIC and PCI)	$	1,425		$	1,399		$	1,398		$	1,400		$	1,407
Allowance for loans acquired from the FDIC and PCI	63			61			60			57			57
Reserve for unfunded lending commitments	92			90			93			78			68
Total	$	1,580		$	1,550		$	1,551		$	1,535		$	1,532

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BB&T Corporation
Credit Quality
	As of/For the Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
	2016		2015		2015		2015		2015
Asset Quality Ratios (Including Acquired From FDIC and PCI)
Loans 30-89 days past due and still accruing as a percentage of loans and leases (1)	0.61	%	0.76	%	0.67	%	0.68	%	0.63	%
Loans 90 days or more past due and still accruing as a percentage of loans and leases (1)	0.21		0.23		0.28		0.29		0.33
Nonperforming loans and leases as a percentage of loans and leases	0.58		0.42		0.43		0.47		0.50
Nonperforming assets as a percentage of:
Total assets	0.42		0.34		0.36		0.38		0.40
Loans and leases plus foreclosed property	0.67		0.52		0.55		0.60		0.64
Net charge-offs as a percentage of average loans and leases	0.46		0.38		0.32		0.33		0.34
Allowance for loan and lease losses as a percentage of loans and leases	1.10		1.07		1.08		1.19		1.22
Ratio of allowance for loan and lease losses to:
Net charge-offs	2.40 X		2.83 X		3.44 X		3.71 X		3.60 X
Nonperforming loans and leases	1.89 X		2.53 X		2.49 X		2.55 X		2.45 X
Asset Quality Ratios (Excluding Acquired From FDIC and PCI) (2)
Loans 90 days or more past due and still accruing as a percentage of loans and leases (1)	0.14	%	0.15	%	0.16	%	0.19	%	0.20	%
Applicable ratios are annualized. Loans and leases exclude loans held for sale.
(1) Excludes government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase. Refer to the footnotes in the Credit Quality section of this supplement for amounts related to these loans. The prior quarters have been revised to include government guaranteed mortgage loans consistent with the current presentation.
(2) These asset quality ratios have been adjusted to remove the impact of assets acquired from the FDIC and PCI. Appropriate adjustments to the numerator and denominator have been reflected in the calculation of these ratios. Management believes the inclusion of assets acquired from the FDIC and PCI in certain asset quality ratios results in distortion of these ratios and they may not be comparable to other periods presented or to other portfolios that were subject to different accounting requirements.

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BB&T Corporation
Credit Quality - Supplemental Information
(Dollars in millions)
	As of March 31, 2016
					Past Due 30-89					Past Due 90+
	Current Status				Days					Days					Total
Performing TDRs: (1)
Commercial:
Commercial and industrial	$	51	98.1	%	$	1		1.9	%	$	—		—	%	$	52
CRE—income producing properties	18		100.0		—			—		—			—		18
CRE—construction and development	13		100.0		—			—		—			—		13
Direct retail lending	68		97.1		2			2.9		—			—		70
Sales finance	16		94.1		1			5.9		—			—		17
Revolving credit	28		87.5		3			9.4		1			3.1		32
Residential mortgage—nonguaranteed	236		84.0		40			14.2		5			1.8		281
Residential mortgage—government guaranteed	188		59.3		56			17.7		73			23.0		317
Other lending subsidiaries	159		87.8		22			12.2		—			—		181
Total performing TDRs	777		79.2		125			12.7		79			8.1		981
Nonperforming TDRs (2)	96		55.8		19			11.1		57			33.1		172
Total TDRs	$	873	75.7		$	144		12.5		$	136		11.8		$	1,153

					Quarter Ended
					March 31			Dec. 31		Sept. 30			June 30		March 31
					2016			2015		2015			2015		2015
Net charge-offs as a percentage of average loans and leases:
Commercial:
Commercial and industrial					0.37		%	0.09	%	0.07		%	0.18	%	0.06		%
CRE—income producing properties					(0.02		)	0.05		0.03			0.11		0.28
CRE—construction and development					(0.12		)	(0.10	)	(0.25		)	(0.20	)	(0.36		)
Direct retail lending					0.24			0.30		0.29			0.29		0.18
Sales finance					0.21			0.28		0.12			0.11		0.14
Revolving credit					2.19			1.85		1.88			2.24		2.32
Residential mortgage					0.09			0.19		0.11			0.12		0.15
Other lending subsidiaries					2.39			2.30		2.12			1.60		2.07
Acquired from FDIC and PCI					—			0.14		0.19			—		0.10
Total loans and leases					0.46			0.38		0.32			0.33		0.34
Applicable ratios are annualized.
(1) Past due performing TDRs are included in past due disclosures.
(2) Nonperforming TDRs are included in nonaccrual loan disclosures.

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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
	2016			2015			2015			2015			2015
Selected Capital Information
Risk-based capital:
Common equity tier 1	$	17,320		$	17,081		$	16,822		$	16,031		$	15,755
Tier 1	20,372			19,682			19,422			18,633			18,320
Total	24,353			23,753			23,612			21,896			21,654
Risk-weighted assets	166,575			166,611			165,990			154,493			150,092
Average quarterly tangible assets	202,199			201,541			195,623			182,444			180,790
Risk-based capital ratios:
Common equity tier 1	10.4		%	10.3		%	10.1		%	10.4		%	10.5		%
Tier 1	12.2			11.8			11.7			12.1			12.2
Total	14.6			14.3			14.2			14.2			14.4
Leverage capital ratio	10.1			9.8			9.9			10.2			10.1
Equity as a percentage of total assets	13.3			13.0			13.1			13.2			13.1
Common equity per common share	$	32.14		$	31.66		$	31.56		$	30.64		$	30.48

Selected Non-GAAP Capital Information (1)
Tangible common equity as a percentage of tangible assets	7.8		%	7.7		%	7.7		%	8.1		%	8.0		%
Tangible common equity per common share	$	20.36		$	19.82		$	19.77		$	20.21		$	20.13

Calculations of Tangible Common Equity, Tangible Assets and Related Measures: (1)
Total shareholders' equity	$	28,239		$	27,340		$	27,264		$	25,132		$	24,738
Less:
Preferred stock	3,054			2,603			2,603			2,603			2,603
Noncontrolling interests	39			34			40			52			96
Intangible assets	9,215			9,234			9,198			7,655			7,480
Tangible common equity	$	15,931		$	15,469		$	15,423		$	14,822		$	14,559
Total assets	$	212,405		$	209,947		$	208,809		$	191,017		$	189,228
Less:
Intangible assets	9,215			9,234			9,198			7,655			7,480
Tangible assets	$	203,190		$	200,713		$	199,611		$	183,362		$	181,748
Tangible Common Equity as a Percentage of Tangible Assets	7.8		%	7.7		%	7.7		%	8.1		%	8.0		%
Tangible common equity	$	15,931		$	15,469		$	15,423		$	14,822		$	14,559

Outstanding shares at end of period (in thousands)	782,379			780,337			780,150			733,481			723,159

Tangible Common Equity Per Common Share	$	20.36		$	19.82		$	19.77		$	20.21		$	20.13
(1) Tangible 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.

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BB&T Corporation
Selected Items & Additional Information
(Dollars in millions, except per share data)
										Favorable (Unfavorable)
Selected Items										Pre-Tax			After-Tax
First Quarter 2016
Energy-related provision in excess of charge-offs	Provision for credit losses									$	(28	)	$	(17	)

Fourth Quarter 2015
None										N/A			N/A

Third Quarter 2015
None										N/A			N/A

Second Quarter 2015
Gain on sale of American Coastal, excluding goodwill										23			15
Allocation of non-deductible goodwill to American Coastal										(49		)	(49		)
Net loss on sale of American Coastal	Other income									(26		)	(34		)

Loss on early extinguishment of debt	Debt extinguishment charges									(172		)	(107		)
Income tax adjustment	Provision for income taxes									N/A			107

First Quarter 2015
None										N/A			N/A


	As of / Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
	2016			2015			2015			2015			2015
Selected Mortgage Banking Information
Income statement impact of mortgage servicing rights valuation:
MSRs fair value increase (decrease)	$	(134	)	$	31		$	(89	)	$	142		$	(71	)
MSRs hedge gains (losses)	143			(24		)	94			(119		)	81
Net	$	9		$	7		$	5		$	23		$	10
Residential mortgage loan originations	$	3,602		$	3,535		$	5,039		$	5,498		$	4,035

Residential mortgage servicing portfolio (1):
Loans serviced for others	90,541			91,132			90,446			89,235			89,192
Bank-owned loans serviced	30,962			31,037			32,134			31,927			31,887
Total servicing portfolio	121,503			122,169			122,580			121,162			121,079

Weighted-average coupon rate	4.11		%	4.12		%	4.13		%	4.15		%	4.18		%
Weighted-average servicing fee	0.285			0.286			0.287			0.289			0.291
Selected Miscellaneous Information
Derivatives notional amount	$	70,658		$	67,525		$	72,978		$	76,205		$	77,592
Fair value of derivatives, net	224			178			286			177			185
AOCI related to securities, net of tax (2)	12			(330		)	(51)			(148		)	8

Common stock prices:
High	37.03			39.47			41.90			41.70			40.17
Low	29.95			34.24			34.73			37.33			34.95
End of period	33.27			37.81			35.60			40.31			38.99

Banking offices	2,137			2,139			2,150			1,903			1,875
ATMs	3,185			3,181			3,361			3,077			3,026
FTEs (3)	35,748			36,059			35,002			32,598			32,109
(1) Amounts reported are unpaid principal balance.
(2) Includes the impact of the FDIC loss sharing agreements on the acquired securities.
(3) Represents a quarterly average.

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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)	2016		2015		2015		2015		2015
Efficiency Ratio - GAAP	59.8	%	62.4	%	64.1	%	69.8	%	60.7	%
Effect of securities gains (losses), net	1.1		—		—		—		—
Effect of merger-related and restructuring charges, net	(0.9	)	(1.9	)	(3.1	)	(1.1	)	(0.5	)
Effect of loss on sale of American Coastal	—		—		—		(0.8	)	—
Effect of loss on early extinguishment of debt	—		—		—		(7.1	)	—
Effect of FDIC loss share accounting	—		—		—		(0.1	)	(0.1	)
Effect of foreclosed property expense	(0.4	)	(0.4	)	(0.6	)	(0.6	)	(0.6	)
Effect of amortization of intangibles	(1.3	)	(1.3	)	(1.2	)	(0.9	)	(1.0	)
Efficiency Ratio - Reported	58.3		58.8		59.2		59.2		58.5
Fee Income Ratio - GAAP	39.3	%	39.7	%	39.7	%	43.0	%	42.5	%
Effect of securities gains (losses), net	(1.1	)	—		—		—		—
Effect of loss on sale of American Coastal	—		—		—		0.6		—
Effect of FDIC loss share accounting	2.4		2.1		2.4		2.7		3.3
Fee Income Ratio - Reported	40.6		41.8		42.1		46.3		45.8



	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Return on Average Tangible Common Shareholders' Equity (2)	2016			2015			2015			2015			2015
Net income available to common shareholders	$	527		$	502		$	492		$	454		$	488
Plus: Amortization of intangibles, net of tax	20			21			18			14			13
Tangible net income available to common shareholders	$	547		$	523		$	510		$	468		$	501

Average common shareholders' equity	$	25,076		$	24,736		$	23,957		$	22,210		$	21,883
Less: Average intangible assets	9,226			9,224			8,666			7,496			7,366
Average tangible common shareholders' equity	$	15,850		$	15,512		$	15,291		$	14,714		$	14,517
Return on average tangible common shareholders' equity	13.87		%	13.37		%	13.23		%	12.76		%	14.00		%
(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.

TRUIST FINANCIAL CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - April 20, 2016

Attached files

TRUIST FINANCIAL CORP Reports