TRUIST FINANCIAL CORP - FORM 8-K - EX-99.2 - QUARTERLY PERFORMANCE SUMMARY

Attached files

file	filename
EX-99.3 - EARNINGS RELEASE PRESENTATION - TRUIST FINANCIAL CORP	exhibit993slides3q16.htm
EX-99.1 - EARNINGS RELEASE - TRUIST FINANCIAL CORP	exhibit991text3q16.htm
8-K - 8-K - TRUIST FINANCIAL CORP	earningsrelease8-kbodyx3q16.htm

Exhibit 99.2

BB&T Corporation

Quarterly Performance Summary

Third 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 - Five Quarter Trend		7
Average Balance Sheets		8
Average Balance Sheets - Five Quarter Trend		9
Average Balances and Rates - Quarters		10
Average Balances and Rates - Year-To-Date		11
Credit Quality		13
Credit Quality - Supplemental Information		16
Preliminary Capital Information - Five Quarter Trend		17
Selected Items & Additional Information		18
Non-GAAP Reconciliations		19



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BB&T Corporation
Financial Highlights
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended								Year-to-Date
	September 30						%		September 30						%
	2016			2015			Change		2016			2015			Change
Summary Income Statement
Interest income	$	1,835		$	1,687		8.8	%	$	5,440		$	4,740		14.8	%
Interest expense	185			186			(0.5	)	565			544			3.9
Net interest income - taxable equivalent	1,650			1,501			9.9		4,875			4,196			16.2
Less: Taxable-equivalent adjustment	40			37			8.1		119			108			10.2
Net interest income	1,610			1,464			10.0		4,756			4,088			16.3
Provision for credit losses	148			103			43.7		443			299			48.2
Net interest income after provision for credit losses	1,462			1,361			7.4		4,313			3,789			13.8
Noninterest income	1,164			988			17.8		3,310			3,004			10.2
Noninterest expense	1,711			1,594			7.3		5,053			4,669			8.2
Income before income taxes	915			755			21.2		2,570			2,124			21.0
Provision for income taxes	273			222			23.0		771			543			42.0
Net income	642			533			20.5		1,799			1,581			13.8
Noncontrolling interests	—			4			(100.0	)	9			36			(75.0	)
Preferred stock dividends	43			37			16.2		123			111			10.8
Net income available to common shareholders	599			492			21.7		1,667			1,434			16.2
Per Common Share Data
Earnings:
Basic	$	0.74		$	0.64		15.6	%	$	2.08		$	1.95		6.7	%
Diluted	0.73			0.64			14.1		2.05			1.92			6.8
Cash dividends declared	0.30			0.27			11.1		0.85			0.78			9.0
Common equity	33.27			31.56			5.4		33.27			31.56			5.4
Tangible common equity (1)	20.31			19.77			2.7		20.31			19.77			2.7

End of period shares outstanding	811,424			780,150			4.0		811,424			780,150			4.0
Weighted average shares:
Basic	812,521			764,435			6.3		802,694			737,141			8.9
Diluted	823,106			774,023			6.3		812,407			746,822			8.8
Performance Ratios
Return on average assets	1.15		%	1.04		%			1.10		%	1.09		%
Return on average risk-weighted assets	1.45			1.32					1.40			1.37
Return on average common shareholders' equity	8.87			8.14					8.52			8.45
Return on average tangible common shareholders' equity (2)	15.20			13.23					14.48			13.32
Net interest margin - taxable equivalent	3.39			3.35					3.41			3.31
Fee income ratio-GAAP (3)	41.9			40.3					41.0			42.4
Efficiency ratio-GAAP (3)	61.7			65.0					62.6			65.8
Efficiency ratio-adjusted (4)	58.7			59.8					59.1			59.6
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.38		%	0.36		%			0.38		%	0.36		%
Loans and leases plus foreclosed property	0.59			0.55					0.59			0.55
Net charge-offs as a percentage of average loans and leases	0.37			0.32					0.37			0.33
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.06			1.08					1.06			1.08
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	2.00x			2.49x					2.00x			2.49x
Average Balances
Total assets	$	222,065		$	203,531		9.1	%	$	218,535		$	193,346		13.0	%
Total securities (5)	47,152			43,048			9.5		46,749			41,643			12.3
Loans and leases	143,689			132,499			8.4		140,815			124,975			12.7
Deposits	159,503			143,837			10.9		156,580			135,131			15.9
Common shareholders' equity	26,824			23,957			12.0		26,142			22,690			15.2
Shareholders' equity	29,916			26,612			12.4		29,120			25,363			14.8
Period-End Balances
Total assets	$	222,622		$	208,809		6.6	%	$	222,622		$	208,809		6.6	%
Total securities (5)	47,199			43,494			8.5		47,199			43,494			8.5
Loans and leases	145,112			136,967			5.9		145,112			136,967			5.9
Deposits	159,915			147,827			8.2		159,915			147,827			8.2
Common shareholders' equity	26,999			24,621			9.7		26,999			24,621			9.7
Shareholders' equity	30,091			27,264			10.4		30,091			27,264			10.4
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.1		%	10.1		%			10.1		%	10.1		%
Tier 1	11.8			11.7					11.8			11.7
Total	14.0			14.2					14.0			14.2
Leverage	9.8			9.9					9.8			9.9
Applicable ratios are annualized.
(1) Tangible common equity per share is a non-GAAP measure. See the calculations and management's reasons for using this measure 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) The calculations for the fee income ratio and the efficiency ratio have been revised to use net interest income as reported instead of net interest income on a taxable equivalent basis. Prior periods have been revised to conform to the current presentation.
(4) The adjusted efficiency ratio is a non-GAAP measure and excludes certain items as detailed in the Non-GAAP Reconciliations section of this supplement. During the third quarter of 2016, the calculation was revised and prior periods were adjusted to conform to the current presentation. See the calculations and management's reasons for using this measure in the Non-GAAP reconciliations section of this supplement. The adjusted fee income ratio is no longer presented.
(5) 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
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Summary Income Statement
Interest income	$	1,835		$	1,845		$	1,760		$	1,733		$	1,687
Interest expense	185			188			192			191			186
Net interest income - taxable equivalent	1,650			1,657			1,568			1,542			1,501
Less: Taxable-equivalent adjustment	40			40			39			38			37
Net interest income	1,610			1,617			1,529			1,504			1,464
Provision for credit losses	148			111			184			129			103
Net interest income after provision for credit losses	1,462			1,506			1,345			1,375			1,361
Noninterest income	1,164			1,130			1,016			1,015			988
Noninterest expense	1,711			1,797			1,545			1,597			1,594
Income before income taxes	915			839			816			793			755
Provision for income taxes	273			252			246			251			222
Net income	642			587			570			542			533
Noncontrolling interests	—			3			6			3			4
Preferred stock dividends	43			43			37			37			37
Net income available to common shareholders	599			541			527			502			492
Per Common Share Data
Earnings:
Basic	$	0.74		$	0.67		$	0.67		$	0.64		$	0.64
Diluted	0.73			0.66			0.67			0.64			0.64
Cash dividends declared	0.30			0.28			0.27			0.27			0.27
Common equity	33.27			32.72			32.14			31.66			31.56
Tangible common equity (1)	20.31			19.75			20.36			19.82			19.77

End of period shares outstanding	811,424			814,500			782,379			780,337			780,150
Weighted average shares:
Basic	812,521			814,261			781,193			780,261			764,435
Diluted	823,106			823,682			790,176			790,244			774,023
Performance Ratios
Return on average assets	1.15		%	1.06		%	1.09		%	1.03		%	1.04		%
Return on average risk-weighted assets	1.45			1.38			1.37			1.29			1.32
Return on average common shareholders' equity	8.87			8.21			8.45			8.06			8.14
Return on average tangible common shareholders' equity (2)	15.20			14.33			13.87			13.37			13.23
Net interest margin - taxable equivalent	3.39			3.41			3.43			3.35			3.35
Fee income ratio-GAAP (3)	41.9			41.2			39.9			40.3			40.3
Efficiency ratio-GAAP (3)	61.7			65.4			60.7			63.4			65.0
Efficiency ratio-adjusted (4)	58.7			59.6			58.8			59.2			59.8
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.38		%	0.40		%	0.42		%	0.34		%	0.36		%
Loans and leases plus foreclosed property	0.59			0.62			0.67			0.52			0.55
Net charge-offs as a percentage of average loans and leases	0.37			0.28			0.46			0.38			0.32
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.06			1.06			1.10			1.07			1.08
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	2.00x			1.90x			1.89x			2.53x			2.49x
Average Balances
Total assets	$	222,065		$	223,399		$	210,102		$	209,217		$	203,531
Total securities (5)	47,152			48,510			44,580			43,468			43,048
Loans and leases	143,689			143,097			135,628			136,190			132,499
Deposits	159,503			160,338			149,867			148,491			143,837
Common shareholders' equity	26,824			26,519			25,076			24,736			23,957
Shareholders' equity	29,916			29,610			27,826			27,378			26,612
Period-End Balances
Total assets	$	222,622		$	221,859		$	212,405		$	209,947		$	208,809
Total securities (5)	47,199			47,006			46,480			43,827			43,494
Loans and leases	145,112			144,711			136,671			136,986			136,967
Deposits	159,915			159,238			150,500			149,124			147,827
Common shareholders' equity	26,999			26,651			25,146			24,703			24,621
Shareholders' equity	30,091			29,743			28,239			27,340			27,264
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.1		%	10.0		%	10.4		%	10.3		%	10.1		%
Tier 1	11.8			11.7			12.2			11.8			11.7
Total	14.0			13.9			14.6			14.3			14.2
Leverage	9.8			9.6			10.1			9.8			9.9
Applicable ratios are annualized.
(1) Tangible common equity per share is a non-GAAP measure. See the calculations and management's reasons for using this measure 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) The calculations for the fee income ratio and the efficiency ratio have been revised to use net interest income as reported instead of net interest income on a taxable equivalent basis. Prior periods have been revised to conform to the current presentation.
(4) The adjusted efficiency ratio is a non-GAAP measure and excludes certain items as detailed in the Non-GAAP Reconciliations section of this supplement. During the third quarter of 2016, the calculation was revised and prior periods were adjusted to conform to the current presentation. See the calculations and management's reasons for using this measure in the Non-GAAP reconciliations section of this supplement. The adjusted fee income ratio is no longer presented.
(5) 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											Year-to-Date
	Sept. 30						Change					Sept. 30						Change
	2016			2015			$			%		2016			2015			$			%
Interest Income
Interest and fees on loans and leases	$	1,524		$	1,412		$	112		7.9	%	$	4,475		$	3,898		$	577		14.8	%
Interest and dividends on securities	262			232			30			12.9		803			704			99			14.1
Interest on other earning assets	9			6			3			50.0		43			30			13			43.3
Total interest income	1,795			1,650			145			8.8		5,321			4,632			689			14.9
Interest Expense
Interest on deposits	62			61			1			1.6		190			171			19			11.1
Interest on short-term borrowings	2			1			1			100.0		7			3			4			133.3
Interest on long-term debt	121			124			(3		)	(2.4	)	368			370			(2		)	(0.5	)
Total interest expense	185			186			(1		)	(0.5	)	565			544			21			3.9
Net Interest Income	1,610			1,464			146			10.0		4,756			4,088			668			16.3
Provision for credit losses	148			103			45			43.7		443			299			144			48.2
Net Interest Income After Provision for Credit Losses	1,462			1,361			101			7.4		4,313			3,789			524			13.8
Noninterest Income
Insurance income	410			354			56			15.8		1,294			1,216			78			6.4
Service charges on deposits	172			167			5			3.0		492			466			26			5.6
Mortgage banking income	154			111			43			38.7		356			351			5			1.4
Investment banking and brokerage fees and commissions	101			105			(4		)	(3.8	)	300			307			(7		)	(2.3	)
Trust and investment advisory revenues	68			63			5			7.9		197			176			21			11.9
Bankcard fees and merchant discounts	61			57			4			7.0		177			162			15			9.3
Checkcard fees	50			45			5			11.1		145			127			18			14.2
Operating lease income	34			32			2			6.3		103			91			12			13.2
Income from bank-owned life insurance	35			29			6			20.7		97			86			11			12.8
FDIC loss share income, net	(18		)	(58		)	40			(69.0	)	(142		)	(201		)	59			(29.4	)
Securities gains (losses), net	—			(2		)	2			(100.0	)	45			(3		)	48			NM
Other income	97			85			12			14.1		246			226			20			8.8
Total noninterest income	1,164			988			176			17.8		3,310			3,004			306			10.2
Noninterest Expense
Personnel expense	1,006			882			124			14.1		2,960			2,576			384			14.9
Occupancy and equipment expense	203			183			20			10.9		588			516			72			14.0
Software expense	63			50			13			26.0		167			140			27			19.3
Loan-related expense	33			38			(5		)	(13.2	)	101			113			(12		)	(10.6	)
Outside IT services	51			35			16			45.7		136			94			42			44.7
Professional services	27			42			(15		)	(35.7	)	75			101			(26		)	(25.7	)
Amortization of intangibles	38			29			9			31.0		112			73			39			53.4
Regulatory charges	41			25			16			64.0		103			73			30			41.1
Foreclosed property expense	9			15			(6		)	(40.0	)	28			42			(14		)	(33.3	)
Merger-related and restructuring charges, net	43			77			(34		)	(44.2	)	158			115			43			37.4
Loss (gain) on early extinguishment of debt	—			—			—			NM		(1		)	172			(173		)	(100.6	)
Other expense	197			218			(21		)	(9.6	)	626			654			(28		)	(4.3	)
Total noninterest expense	1,711			1,594			117			7.3		5,053			4,669			384			8.2
Earnings
Income before income taxes	915			755			160			21.2		2,570			2,124			446			21.0
Provision for income taxes	273			222			51			23.0		771			543			228			42.0
Net income	642			533			109			20.5		1,799			1,581			218			13.8
Noncontrolling interests	—			4			(4		)	(100.0	)	9			36			(27		)	(75.0	)
Preferred stock dividends	43			37			6			16.2		123			111			12			10.8
Net income available to common shareholders	$	599		$	492		$	107		21.7	%	$	1,667		$	1,434		$	233		16.2	%
Earnings Per Common Share
Basic	$	0.74		$	0.64		$	0.10		15.6	%	$	2.08		$	1.95		$	0.13		6.7	%
Diluted	0.73			0.64			0.09			14.1		2.05			1.92			0.13			6.8
Weighted Average Shares Outstanding
Basic	812,521			764,435			48,086			6.3		802,694			737,141			65,553			8.9
Diluted	823,106			774,023			49,083			6.3		812,407			746,822			65,585			8.8
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
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Interest Income
Interest and fees on loans and leases	$	1,524		$	1,509		$	1,442		$	1,449		$	1,412
Interest and dividends on securities	262			286			255			237			232
Interest on other earning assets	9			10			24			9			6
Total interest income	1,795			1,805			1,721			1,695			1,650
Interest Expense
Interest on deposits	62			64			64			62			61
Interest on short-term borrowings	2			3			2			1			1
Interest on long-term debt	121			121			126			128			124
Total interest expense	185			188			192			191			186
Net Interest Income	1,610			1,617			1,529			1,504			1,464
Provision for credit losses	148			111			184			129			103
Net Interest Income After Provision for Credit Losses	1,462			1,506			1,345			1,375			1,361
Noninterest Income
Insurance income	410			465			419			380			354
Service charges on deposits	172			166			154			165			167
Mortgage banking income	154			111			91			104			111
Investment banking and brokerage fees and commissions	101			102			97			91			105
Trust and investment advisory revenues	68			67			62			64			63
Bankcard fees and merchant discounts	61			60			56			56			57
Checkcard fees	50			50			45			47			45
Operating lease income	34			35			34			33			32
Income from bank-owned life insurance	35			31			31			27			29
FDIC loss share income, net	(18		)	(64		)	(60		)	(52		)	(58		)
Securities gains (losses), net	—			—			45			—			(2		)
Other income	97			107			42			100			85
Total noninterest income	1,164			1,130			1,016			1,015			988
Noninterest Expense
Personnel expense	1,006			1,039			915			893			882
Occupancy and equipment expense	203			194			191			192			183
Software expense	63			53			51			52			50
Loan-related expense	33			36			32			37			38
Outside IT services	51			44			41			41			35
Professional services	27			26			22			29			42
Amortization of intangibles	38			42			32			32			29
Regulatory charges	41			32			30			28			25
Foreclosed property expense	9			8			11			11			15
Merger-related and restructuring charges, net	43			92			23			50			77
Loss (gain) on early extinguishment of debt	—			—			(1		)	—			—
Other expense	197			231			198			232			218
Total noninterest expense	1,711			1,797			1,545			1,597			1,594
Earnings
Income before income taxes	915			839			816			793			755
Provision for income taxes	273			252			246			251			222
Net income	642			587			570			542			533
Noncontrolling interests	—			3			6			3			4
Preferred stock dividends	43			43			37			37			37
Net income available to common shareholders	$	599		$	541		$	527		$	502		$	492
Earnings Per Common Share
Basic	$	0.74		$	0.67		$	0.67		$	0.64		$	0.64
Diluted	0.73			0.66			0.67			0.64			0.64
Weighted Average Shares Outstanding
Basic	812,521			814,261			781,193			780,261			764,435
Diluted	823,106			823,682			790,176			790,244			774,023

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

	Quarter Ended
Community Banking	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	570		$	532		$	529		$	492		$	449
Net intersegment interest income (expense)	402			391			389			361			323
Segment net interest income	972			923			918			853			772
Allocated provision for credit losses	(3		)	23			(10		)	39			4
Noninterest income	317			305			288			301			303
Intersegment net referral fees (expenses)	41			40			30			30			35
Noninterest expense	446			434			422			404			379
Amortization of intangibles	16			18			19			14			9
Allocated corporate expenses	338			330			332			309			305
Income (loss) before income taxes	533			463			473			418			413
Provision (benefit) for income taxes	195			168			172			156			153
Segment net income (loss)	$	338		$	295		$	301		$	262		$	260
Identifiable segment assets (period end)	$	71,034		$	66,680		$	66,546		$	67,063		$	57,364

	Quarter Ended
Residential Mortgage Banking	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	344		$	333		$	332		$	336		$	337
Net intersegment interest income (expense)	(225		)	(223		)	(227		)	(225		)	(221		)
Segment net interest income	119			110			105			111			116
Allocated provision for credit losses	9			10			11			8			10
Noninterest income	116			82			71			78			93
Intersegment net referral fees (expenses)	—			1			—			1			1
Noninterest expense	10			87			76			78			85
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	28			25			26			25			22
Income (loss) before income taxes	188			71			63			79			93
Provision (benefit) for income taxes	71			27			24			30			35
Segment net income (loss)	$	117		$	44		$	39		$	49		$	58
Identifiable segment assets (period end)	$	34,266		$	33,606		$	33,208		$	33,364		$	32,973

	Quarter Ended
Dealer Financial Services	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	229		$	226		$	229		$	231		$	221
Net intersegment interest income (expense)	(39		)	(39		)	(40		)	(39		)	(38		)
Segment net interest income	190			187			189			192			183
Allocated provision for credit losses	76			58			76			77			67
Noninterest income	1			—			1			—			—
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	39			36			35			40			38
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	11			11			11			9			10
Income (loss) before income taxes	65			82			68			66			68
Provision (benefit) for income taxes	25			31			26			25			26
Segment net income (loss)	$	40		$	51		$	42		$	41		$	42
Identifiable segment assets (period end)	$	15,090		$	14,463		$	14,692		$	15,130		$	13,794

	Quarter Ended
Specialized Lending	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	194		$	186		$	178		$	178		$	171
Net intersegment interest income (expense)	(72		)	(69		)	(68		)	(65		)	(60		)
Segment net interest income	122			117			110			113			111
Allocated provision for credit losses	23			17			18			12			8
Noninterest income	83			73			65			71			58
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	73			72			65			71			62
Amortization of intangibles	2			1			1			1			1
Allocated corporate expenses	22			19			18			16			17
Income (loss) before income taxes	85			81			73			84			81
Provision (benefit) for income taxes	21			20			17			21			20
Segment net income (loss)	$	64		$	61		$	56		$	63		$	61
Identifiable segment assets (period end)	$	20,418		$	19,739		$	18,155		$	18,243		$	17,669
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	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	1		$	1		$	—		$	—		$	1
Net intersegment interest income (expense)	1			1			1			2			2
Segment net interest income	2			2			1			2			3
Allocated provision for credit losses	—			—			—			—			—
Noninterest income	412			465			421			388			353
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	332			350			299			295			284
Amortization of intangibles	15			18			11			12			12
Allocated corporate expenses	28			28			28			24			25
Income (loss) before income taxes	39			71			84			59			35
Provision (benefit) for income taxes	16			27			31			23			14
Segment net income (loss)	$	23		$	44		$	53		$	36		$	21
Identifiable segment assets (period end)	$	3,343		$	3,590		$	2,800		$	2,804		$	2,668

	Quarter Ended
Financial Services	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	65		$	68		$	63		$	60		$	54
Net intersegment interest income (expense)	96			91			88			85			81
Segment net interest income	161			159			151			145			135
Allocated provision for credit losses	32			6			90			(3		)	22
Noninterest income	226			210			197			210			226
Intersegment net referral fees (expenses)	7			5			3			11			4
Noninterest expense	191			189			182			168			176
Amortization of intangibles	1			1			1			1			1
Allocated corporate expenses	38			37			37			34			34
Income (loss) before income taxes	132			141			41			166			132
Provision (benefit) for income taxes	49			53			15			62			50
Segment net income (loss)	$	83		$	88		$	26		$	104		$	82
Identifiable segment assets (period end)	$	17,760		$	17,569		$	17,977		$	16,646		$	15,680

	Quarter Ended
Other, Treasury & Corporate (1)(2)	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	207		$	271		$	198		$	207		$	231
Net intersegment interest income (expense)	(163		)	(152		)	(143		)	(119		)	(87		)
Segment net interest income	44			119			55			88			144
Allocated provision for credit losses	11			(3		)	(1		)	(4		)	(8		)
Noninterest income	9			(5		)	(27		)	(33		)	(45		)
Intersegment net referral fees (expenses)	(48		)	(46		)	(33		)	(42		)	(40		)
Noninterest expense	582			587			434			509			541
Amortization of intangibles	4			4			—			4			6
Allocated corporate expenses	(465		)	(450		)	(452		)	(417		)	(413		)
Income (loss) before income taxes	(127		)	(70		)	14			(79		)	(67		)
Provision (benefit) for income taxes	(104		)	(74		)	(39		)	(66		)	(76		)
Segment net income (loss)	$	(23	)	$	4		$	53		$	(13	)	$	9
Identifiable segment assets (period end)	$	60,711		$	66,212		$	59,027		$	56,697		$	68,661

	Quarter Ended
Total BB&T Corporation	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Net interest income (expense)	$	1,610		$	1,617		$	1,529		$	1,504		$	1,464
Net intersegment interest income (expense)	—			—			—			—			—
Segment net interest income	1,610			1,617			1,529			1,504			1,464
Allocated provision for credit losses	148			111			184			129			103
Noninterest income	1,164			1,130			1,016			1,015			988
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	1,673			1,755			1,513			1,565			1,565
Amortization of intangibles	38			42			32			32			29
Allocated corporate expenses	—			—			—			—			—
Income (loss) before income taxes	915			839			816			793			755
Provision (benefit) for income taxes	273			252			246			251			222
Segment net income (loss)	$	642		$	587		$	570		$	542		$	533
Identifiable segment assets (period end)	$	222,622		$	221,859		$	212,405		$	209,947		$	208,809
(1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
(2) The financial information related to National Penn's operations was included in the Other, Treasury & Corporate segment for the second quarter of 2016 and is presented in the other segments following the systems conversion date in July 2016.

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BB&T Corporation
Consolidated Balance Sheets - Five Quarter Trend
(Dollars in millions)
	As of
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Assets
Cash and due from banks	$	1,850		$	1,958		$	1,825		$	2,123		$	1,538
Interest-bearing deposits with banks	930			510			786			1,435			1,115
Federal funds sold and securities purchased under resale agreements or similar arrangements	192			145			167			153			127
Restricted cash	654			846			666			456			578
Securities available for sale at fair value	29,449			28,244			27,129			25,297			24,249
Securities held to maturity at amortized cost	17,750			18,762			19,351			18,530			19,245
Loans and leases:
Commercial:
Commercial and industrial	51,779			52,103			48,727			48,430			48,095
CRE-income producing properties	14,624			14,872			13,728			13,421			13,313
CRE-construction and development	3,864			3,690			3,416			3,732			3,807
Dealer floor plan	1,288			1,308			1,266			1,215			1,093
Direct retail lending	12,022			12,025			11,085			11,140			10,626
Sales finance	9,964			9,429			9,784			10,327			10,772
Revolving credit	2,561			2,512			2,449			2,510			2,429
Residential mortgage	30,369			30,650			29,998			30,533			31,070
Other lending subsidiaries	14,945			14,528			13,587			13,521			13,235
Acquired from FDIC and PCI	1,007			1,109			1,056			1,122			1,075
Total loans and leases held for investment	142,423			142,226			135,096			135,951			135,515
Loans held for sale	2,689			2,485			1,575			1,035			1,452
Total loans and leases	145,112			144,711			136,671			136,986			136,967
Allowance for loan and lease losses	(1,511		)	(1,507		)	(1,488		)	(1,460		)	(1,458		)
Premises and equipment	2,059			2,088			2,001			2,007			2,038
Goodwill	9,627			9,621			8,559			8,548			8,498
Core deposit and other intangible assets	892			946			656			686			700
Mortgage servicing rights at fair value	828			785			860			880			848
Other assets	14,790			14,750			15,222			14,306			14,364
Total assets	$	222,622		$	221,859		$	212,405		$	209,947		$	208,809
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	51,000		$	49,180		$	47,258		$	45,695		$	44,700
Interest checking	27,709			28,528			25,915			25,410			23,574
Money market and savings	64,090			64,064			60,349			60,461			61,689
Time deposits	17,116			17,466			16,978			17,558			17,864
Total deposits	159,915			159,238			150,500			149,124			147,827
Short-term borrowings	4,064			1,472			4,130			3,593			2,581
Long-term debt	22,776			24,435			22,823			23,769			24,883
Accounts payable and other liabilities	5,776			6,971			6,713			6,121			6,254
Total liabilities	192,531			192,116			184,166			182,607			181,545
Shareholders' equity:
Preferred stock	3,053			3,053			3,054			2,603			2,603
Common stock	4,057			4,073			3,912			3,902			3,901
Additional paid-in capital	9,233			9,311			8,360			8,365			8,344
Retained earnings	14,459			14,104			13,791			13,464			13,172
Accumulated other comprehensive loss	(750		)	(837		)	(917		)	(1,028		)	(796		)
Noncontrolling interests	39			39			39			34			40
Total shareholders' equity	30,091			29,743			28,239			27,340			27,264
Total liabilities and shareholders' equity	$	222,622		$	221,859		$	212,405		$	209,947		$	208,809

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BB&T Corporation
Average Balance Sheets
(Dollars in millions)
	Quarter Ended									Year-to-Date
	September 30				Change					September 30				Change
	2016		2015		$			%		2016		2015		$			%
Assets
Securities at amortized cost (1):
U.S. Treasury	$	3,460	$	2,745	$	715		26.0	%	$	2,832	$	2,602	$	230		8.8	%
U.S. government-sponsored entities (GSE)	2,786		5,395		(2,609		)	(48.4	)	4,012		5,396		(1,384		)	(25.6	)
Mortgage-backed securities issued by GSE	37,987		31,329		6,658			21.3		36,895		30,090		6,805			22.6
States and political subdivisions	2,356		2,264		92			4.1		2,392		2,170		222			10.2
Non-agency mortgage-backed	502		736		(234		)	(31.8	)	555		770		(215		)	(27.9	)
Other	61		579		(518		)	(89.5	)	63		615		(552		)	(89.8	)
Total securities	47,152		43,048		4,104			9.5		46,749		41,643		5,106			12.3
Other earning assets	3,068		2,917		151			5.2		3,229		2,524		705			27.9
Loans and leases:
Commercial:
Commercial and industrial	51,508		46,462		5,046			10.9		50,393		43,502		6,891			15.8
CRE-income producing properties	14,667		12,514		2,153			17.2		14,316		11,315		3,001			26.5
CRE-construction and development	3,802		3,502		300			8.6		3,697		3,003		694			23.1
Dealer floor plan	1,268		1,056		212			20.1		1,270		1,035		235			22.7
Direct retail lending	11,994		9,926		2,068			20.8		11,712		8,862		2,850			32.2
Sales finance	9,339		10,386		(1,047		)	(10.1	)	9,685		9,788		(103		)	(1.1	)
Revolving credit	2,537		2,421		116			4.8		2,492		2,390		102			4.3
Residential mortgage	30,357		30,384		(27		)	(0.1	)	30,231		30,224		7			—
Other lending subsidiaries	14,742		12,837		1,905			14.8		14,050		11,958		2,092			17.5
Acquired from FDIC and PCI	1,052		1,052		—			—		1,093		1,087		6			0.6
Total loans and leases held for investment	141,266		130,540		10,726			8.2		138,939		123,164		15,775			12.8
Loans held for sale	2,423		1,959		464			23.7		1,876		1,811		65			3.6
Total loans and leases	143,689		132,499		11,190			8.4		140,815		124,975		15,840			12.7
Total earning assets	193,909		178,464		15,445			8.7		190,793		169,142		21,651			12.8
Nonearning assets	28,156		25,067		3,089			12.3		27,742		24,204		3,538			14.6
Total assets	$	222,065	$	203,531	$	18,534		9.1	%	$	218,535	$	193,346	$	25,189		13.0	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	50,559	$	44,153	$	6,406		14.5	%	$	48,528	$	41,802	$	6,726		16.1	%
Interest checking	27,754		22,593		5,161			22.8		27,246		21,396		5,850			27.3
Money market and savings	64,335		59,306		5,029			8.5		62,658		54,962		7,696			14.0
Time deposits	15,818		16,837		(1,019		)	(6.1	)	16,931		16,212		719			4.4
Foreign office deposits - interest-bearing	1,037		948		89			9.4		1,217		759		458			60.3
Total deposits	159,503		143,837		15,666			10.9		156,580		135,131		21,449			15.9
Short-term borrowings	2,128		3,572		(1,444		)	(40.4	)	2,615		3,397		(782		)	(23.0	)
Long-term debt	23,428		23,394		34			0.1		23,203		23,019		184			0.8
Accounts payable and other liabilities	7,090		6,116		974			15.9		7,017		6,436		581			9.0
Total liabilities	192,149		176,919		15,230			8.6		189,415		167,983		21,432			12.8
Shareholders' equity	29,916		26,612		3,304			12.4		29,120		25,363		3,757			14.8
Total liabilities and shareholders' equity	$	222,065	$	203,531	$	18,534		9.1	%	$	218,535	$	193,346	$	25,189		13.0	%
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
	Sept. 30		June 30		March 31		Dec. 31		Sept. 30
	2016		2016		2016		2015		2015
Assets
Securities at amortized cost (1):
U.S. Treasury	$	3,460	$	2,252	$	2,777	$	2,794	$	2,745
U.S. government-sponsored entities (GSE)	2,786		4,199		5,065		5,165		5,395
Mortgage-backed securities issued by GSE	37,987		38,911		33,774		32,442		31,329
States and political subdivisions	2,356		2,555		2,266		2,306		2,264
Non-agency mortgage-backed	502		526		636		697		736
Other	61		67		62		64		579
Total securities	47,152		48,510		44,580		43,468		43,048
Other earning assets	3,068		3,215		3,404		3,493		2,917
Loans and leases:
Commercial:
Commercial and industrial	51,508		51,646		48,013		48,047		46,462
CRE-income producing properties	14,667		14,786		13,490		13,264		12,514
CRE-construction and development	3,802		3,669		3,619		3,766		3,502
Dealer floor plan	1,268		1,305		1,239		1,164		1,056
Direct retail lending	11,994		12,031		11,107		10,896		9,926
Sales finance	9,339		9,670		10,049		10,533		10,386
Revolving credit	2,537		2,477		2,463		2,458		2,421
Residential mortgage	30,357		30,471		29,864		30,334		30,384
Other lending subsidiaries	14,742		13,961		13,439		13,281		12,837
Acquired from FDIC and PCI	1,052		1,130		1,098		1,070		1,052
Total loans and leases held for investment	141,266		141,146		134,381		134,813		130,540
Loans held for sale	2,423		1,951		1,247		1,377		1,959
Total loans and leases	143,689		143,097		135,628		136,190		132,499
Total earning assets	193,909		194,822		183,612		183,151		178,464
Nonearning assets	28,156		28,577		26,490		26,066		25,067
Total assets	$	222,065	$	223,399	$	210,102	$	209,217	$	203,531
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	50,559	$	48,801	$	46,203	$	45,824	$	44,153
Interest checking	27,754		28,376		25,604		24,157		22,593
Money market and savings	64,335		63,195		60,424		61,431		59,306
Time deposits	15,818		18,101		16,884		16,981		16,837
Foreign office deposits - interest-bearing	1,037		1,865		752		98		948
Total deposits	159,503		160,338		149,867		148,491		143,837
Short-term borrowings	2,128		2,951		2,771		2,698		3,572
Long-term debt	23,428		23,272		22,907		24,306		23,394
Accounts payable and other liabilities	7,090		7,228		6,731		6,344		6,116
Total liabilities	192,149		193,789		182,276		181,839		176,919
Shareholders' equity	29,916		29,610		27,826		27,378		26,612
Total liabilities and shareholders' equity	$	222,065	$	223,399	$	210,102	$	209,217	$	203,531
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
	September 30, 2016						June 30, 2016
	(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	$	3,460	$	14	1.63	%	$	2,252	$	10	1.76	%
U.S. government-sponsored entities (GSE)	2,786		16		2.18		4,199		21		2.06
Mortgage-backed securities issued by GSE	37,987		195		2.05		38,911		203		2.09
States and political subdivisions	2,356		30		5.16		2,555		34		5.24
Non-agency mortgage-backed	502		19		14.81		526		31		23.81
Other	61		—		1.67		67		1		1.91
Total securities	47,152		274		2.32		48,510		300		2.47
Other earning assets	3,068		9		1.17		3,215		9		1.22
Loans and leases:
Commercial:
Commercial and industrial	51,508		436		3.37		51,646		433		3.37
CRE-income producing properties	14,667		138		3.75		14,786		139		3.79
CRE-construction and development	3,802		36		3.74		3,669		34		3.74
Dealer floor plan	1,268		7		2.09		1,305		7		2.04
Direct retail lending	11,994		130		4.30		12,031		127		4.33
Sales finance	9,339		71		3.04		9,670		74		3.05
Revolving credit	2,537		56		8.80		2,477		54		8.73
Residential mortgage	30,357		308		4.06		30,471		312		4.09
Other lending subsidiaries	14,742		298		8.05		13,961		292		8.39
Acquired from FDIC and PCI	1,052		52		19.68		1,130		48		16.91
Total loans and leases held for investment	141,266		1,532		4.32		141,146		1,520		4.32
Loans held for sale	2,423		20		3.25		1,951		16		3.43
Total loans and leases	143,689		1,552		4.30		143,097		1,536		4.31
Total earning assets	193,909		1,835		3.77		194,822		1,845		3.80
Nonearning assets	28,156						28,577
Total assets	$	222,065					$	223,399
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	27,754	10		0.15		$	28,376	11		0.15
Money market and savings	64,335		31		0.19		63,195		29		0.19
Time deposits	15,818		20		0.50		18,101		23		0.51
Foreign office deposits - interest-bearing	1,037		1		0.38		1,865		1		0.38
Total interest-bearing deposits	108,944		62		0.23		111,537		64		0.23
Short-term borrowings	2,128		2		0.34		2,951		3		0.34
Long-term debt	23,428		121		2.05		23,272		121		2.10
Total interest-bearing liabilities	134,500		185		0.55		137,760		188		0.55
Noninterest-bearing deposits	50,559						48,801
Accounts payable and other liabilities	7,090						7,228
Shareholders' equity	29,916						29,610
Total liabilities and shareholders' equity	$	222,065					$	223,399
Average interest-rate spread					3.22						3.25

Net interest income/ net interest margin			$	1,650	3.39	%			$	1,657	3.41	%
Taxable-equivalent adjustment			$	40					$	40
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis.
(3) 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						September 30, 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	$	2,777	$	12	1.70	%	$	2,794	$	12	1.67	%	$	2,745	$	11	1.60	%
U.S. government-sponsored entities (GSE)	5,065		27		2.11		5,165		27		2.12		5,395		29		2.13
Mortgage-backed securities issued by GSE	33,774		167		1.98		32,442		156		1.94		31,329		147		1.89
States and political subdivisions	2,266		30		5.37		2,306		32		5.48		2,264		31		5.54
Non-agency mortgage-backed	636		31		19.81		697		23		12.76		736		24		12.91
Other	62		—		1.57		64		—		1.25		579		3		1.42
Total securities	44,580		267		2.40		43,468		250		2.30		43,048		245		2.27
Other earning assets	3,404		25		2.87		3,493		8		0.90		2,917		7		0.97
Loans and leases:
Commercial:
Commercial and industrial	48,013		392		3.29		48,047		387		3.20		46,462		386		3.30
CRE-income producing properties	13,490		127		3.77		13,264		135		4.02		12,514		118		3.74
CRE-construction and development	3,619		34		3.75		3,766		36		3.80		3,502		33		3.73
Dealer floor plan	1,239		6		2.02		1,164		6		1.89		1,056		4		1.91
Direct retail lending	11,107		118		4.23		10,896		108		3.97		9,926		105		4.18
Sales finance	10,049		75		3.01		10,533		76		2.86		10,386		83		3.14
Revolving credit	2,463		54		8.82		2,458		55		8.81		2,421		53		8.70
Residential mortgage	29,864		305		4.10		30,334		316		4.17		30,384		319		4.18
Other lending subsidiaries	13,439		286		8.56		13,281		287		8.57		12,837		276		8.56
Acquired from FDIC and PCI	1,098		59		21.69		1,070		56		20.85		1,052		40		14.87
Total loans and leases held for investment	134,381		1,456		4.35		134,813		1,462		4.31		130,540		1,417		4.31
Loans held for sale	1,247		12		3.77		1,377		13		3.73		1,959		18		3.75
Total loans and leases	135,628		1,468		4.35		136,190		1,475		4.31		132,499		1,435		4.31
Total earning assets	183,612		1,760		3.85		183,151		1,733		3.77		178,464		1,687		3.76
Nonearning assets	26,490						26,066						25,067
Total assets	$	210,102					$	209,217					$	203,531
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	25,604	8		0.13		$	24,157	6		0.09		$	22,593	4		0.08
Money market and savings	60,424		32		0.21		61,431		32		0.21		59,306		30		0.20
Time deposits	16,884		23		0.55		16,981		24		0.58		16,837		26		0.61
Foreign office deposits - interest-bearing	752		1		0.36		98		—		0.34		948		1		0.13
Total interest-bearing deposits	103,664		64		0.25		102,667		62		0.24		99,684		61		0.24
Short-term borrowings	2,771		2		0.36		2,698		1		0.17		3,572		2		0.15
Long-term debt	22,907		126		2.19		24,306		128		2.11		23,394		123		2.12
Total interest-bearing liabilities	129,342		192		0.60		129,671		191		0.59		126,650		186		0.59
Noninterest-bearing deposits	46,203						45,824						44,153
Accounts payable and other liabilities	6,731						6,344						6,116
Shareholders' equity	27,826						27,378						26,612
Total liabilities and shareholders' equity	$	210,102					$	209,217					$	203,531
Average interest-rate spread					3.25						3.18						3.17

Net interest income/ net interest margin			$	1,568	3.43	%			$	1,542	3.35	%			$	1,501	3.35	%
Taxable-equivalent adjustment			$	39					$	38					$	37
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis.
(3) Excludes trading securities.

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BB&T Corporation
Average Balances and Rates - Year-To-Date
(Dollars in millions)
	Year-to-Date
	September 30, 2016						September 30, 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	$	2,832	$	36	1.69	%	$	2,602	$	30	1.55	%
U.S. government-sponsored entities (GSE)	4,012		64		2.11		5,396		86		2.13
Mortgage-backed securities issued by GSE	36,895		565		2.04		30,090		449		1.99
States and political subdivisions	2,392		94		5.25		2,170		93		5.72
Non-agency mortgage-backed	555		81		19.57		770		79		13.73
Other	63		1		1.72		615		7		1.30
Total securities	46,749		841		2.40		41,643		744		2.38
Other earning assets	3,229		43		1.78		2,524		30		1.61
Loans and leases:
Commercial:
Commercial and industrial	50,393		1,261		3.34		43,502		1,047		3.22
CRE-income producing properties	14,316		404		3.77		11,315		297		3.51
CRE-construction and development	3,697		104		3.75		3,003		78		3.48
Dealer floor plan	1,270		20		2.05		1,035		14		1.84
Direct retail lending	11,712		375		4.29		8,862		273		4.11
Sales finance	9,685		220		3.03		9,788		210		2.86
Revolving credit	2,492		164		8.79		2,390		156		8.74
Residential mortgage	30,231		925		4.08		30,224		939		4.14
Other lending subsidiaries	14,050		876		8.32		11,958		780		8.72
Acquired from FDIC and PCI	1,093		159		19.40		1,087		123		15.15
Total loans and leases held for investment	138,939		4,508		4.33		123,164		3,917		4.25
Loans held for sale	1,876		48		3.42		1,811		49		3.61
Total loans and leases	140,815		4,556		4.32		124,975		3,966		4.24
Total earning assets	190,793		5,440		3.81		169,142		4,740		3.74
Nonearning assets	27,742						24,204
Total assets	$	218,535					$	193,346
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	27,246	29		0.14		$	21,396	12		0.08
Money market and savings	62,658		92		0.20		54,962		75		0.18
Time deposits	16,931		66		0.52		16,212		83		0.68
Foreign office deposits - interest-bearing	1,217		3		0.37		759		1		0.11
Total interest-bearing deposits	108,052		190		0.24		93,329		171		0.24
Short-term borrowings	2,615		7		0.35		3,397		4		0.14
Long-term debt	23,203		368		2.12		23,019		369		2.14
Total interest-bearing liabilities	133,870		565		0.56		119,745		544		0.61
Noninterest-bearing deposits	48,528						41,802
Accounts payable and other liabilities	7,017						6,436
Shareholders' equity	29,120						25,363
Total liabilities and shareholders' equity	$	218,535					$	193,346
Average interest-rate spread					3.25						3.13

Net interest income/ net interest margin			$	4,875	3.41	%			$	4,196	3.31	%
Taxable-equivalent adjustment			$	119					$	108
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis.
(3) Excludes trading securities.

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BB&T Corporation
Credit Quality
(Dollars in millions)
	As of
	Sept. 30		June 30		March 31		Dec. 31		Sept. 30
	2016		2016		2016		2015		2015
Nonperforming Assets (1)
Nonaccrual loans and leases:
Commercial:
Commercial and industrial	$	413	$	452	$	442	$	237	$	211
CRE-income producing properties	38		36		48		38		45
CRE-construction and development	12		14		11		13		24
Dealer floor plan	—		—		—		—		7
Direct retail lending	55		52		51		43		39
Sales finance	6		5		7		7		6
Residential mortgage-nonguaranteed	167		171		163		173		196
Residential mortgage-government guaranteed	—		1		—		—		—
Other lending subsidiaries	66		62		64		65		57
Total nonaccrual loans and leases held for investment (1)(2)	757		793		786		576		585
Foreclosed real estate	41		53		66		82		85
Foreclosed real estate-acquired from FDIC and PCI	17		17		23		26		45
Other foreclosed property	28		23		28		28		29
Total nonperforming assets (1)(2)	$	843	$	886	$	903	$	712	$	744
Performing Troubled Debt Restructurings (TDRs) (3)
Commercial:
Commercial and industrial	$	46	$	39	$	52	$	49	$	54
CRE-income producing properties	14		16		18		13		12
CRE-construction and development	8		10		13		16		14
Direct retail lending	69		69		70		72		75
Sales finance	16		16		17		17		18
Revolving credit	30		31		32		33		34
Residential mortgage-nonguaranteed	287		276		281		288		275
Residential mortgage-government guaranteed (4)	393		348		317		316		321
Other lending subsidiaries	209		198		181		178		173
Total performing TDRs (3)(4)	$	1,072	$	1,003	$	981	$	982	$	976
Loans 90 Days or More Past Due and Still Accruing
Direct retail lending	$	7	$	5	$	6	$	7	$	12
Sales finance	4		4		4		5		4
Revolving credit	9		8		10		10		9
Residential mortgage-nonguaranteed	66		56		55		55		61
Residential mortgage-government guaranteed (5)	414		415		434		486		481
Acquired from FDIC and PCI	92		122		100		114		167
Total loans 90 days past due and still accruing (5)	$	592	$	610	$	609	$	677	$	734
Loans 30-89 Days Past Due
Commercial:
Commercial and industrial	$	34	$	20	$	27	$	36	$	26
CRE-income producing properties	3		8		7		13		6
CRE-construction and development	2		2		6		9		2
Direct retail lending	62		53		48		58		46
Sales finance	60		61		53		72		63
Revolving credit	20		19		18		22		20
Residential mortgage-nonguaranteed	354		361		350		397		368
Residential mortgage-government guaranteed (6)	112		81		66		78		76
Other lending subsidiaries	288		261		207		304		274
Acquired from FDIC and PCI	45		48		43		42		28
Total loans 30-89 days past due (6)	$	980	$	914	$	825	$	1,031	$	909
Excludes loans held for sale.
(1) Loans acquired from the FDIC and PCI are accounted for using the accretion method.
(2) During the third quarter of 2016, approximately $25 million of nonaccrual commercial and industrial loans were transferred to held for sale. During the second quarter of 2016, approximately $46 million of nonaccrual commercial and industrial loans were sold. 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 $134 million, $146 million, $172 million, $146 million and $154 million at September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015 and September 30, 2015, respectively. These amounts are included in total nonperforming assets. Trial modifications are excluded because the specific types and amounts of concessions offered to borrowers frequently change between the trial modification and the permanent modification.
(4) During the second quarter of 2016, BB&T began repurchasing certain delinquent government guaranteed GNMA mortgage loans, including certain loans that were considered troubled debt restructurings.
(5) Includes 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 $46 million, $49 million, $323 million, $365 million and $353 million at September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015 and September 30, 2015, respectively.
(6) Includes 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, $2 million, $2 million and $3 million at September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015 and September 30, 2015, respectively.

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BB&T Corporation
Credit Quality
(Dollars in millions)
	As of/For the Quarter Ended
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Allowance for Credit Losses
Beginning balance	$	1,603		$	1,580		$	1,550		$	1,551		$	1,535
Provision for credit losses (excluding loans acquired from FDIC and PCI)	150			109			182			128			100
Provision (benefit) for loans acquired from FDIC and PCI	(2		)	2			2			1			3
Charge-offs:
Commercial:
Commercial and industrial	(23		)	(26		)	(56		)	(19		)	(16		)
CRE-income producing properties	(5		)	—			(2		)	(3		)	(4		)
CRE-construction and development	(1		)	—			—			(1		)	(1		)
Dealer floor plan	—			—			—			—			—
Direct retail lending	(12		)	(12		)	(13		)	(14		)	(15		)
Sales finance	(7		)	(6		)	(8		)	(10		)	(5		)
Revolving credit	(18		)	(16		)	(19		)	(16		)	(17		)
Residential mortgage-nonguaranteed	(11		)	(8		)	(7		)	(14		)	(7		)
Residential mortgage-government guaranteed	(2		)	(1		)	(1		)	(2		)	(3		)
Other lending subsidiaries	(91		)	(73		)	(92		)	(85		)	(77		)
Acquired from FDIC and PCI	—			—			—			—			—
Total charge-offs	(170		)	(142		)	(198		)	(164		)	(145		)
Recoveries:
Commercial:
Commercial and industrial	6			12			12			8			8
CRE-income producing properties	3			1			3			1			3
CRE-construction and development	3			5			1			2			3
Dealer floor plan	—			—			—			—			—
Direct retail lending	7			6			7			6			8
Sales finance	3			3			3			2			2
Revolving credit	5			5			5			5			5
Residential mortgage-nonguaranteed	1			1			1			1			1
Residential mortgage-government guaranteed	—			—			—			—			—
Other lending subsidiaries	12			12			12			9			8
Total recoveries	40			45			44			34			38
Net charge-offs	(130		)	(97		)	(154		)	(130		)	(107		)
Other	—			9			—			—			20
Ending balance	$	1,621		$	1,603		$	1,580		$	1,550		$	1,551
Allowance for Credit Losses
Allowance for loan and lease losses (excluding loans acquired from the FDIC and PCI)	$	1,448		$	1,442		$	1,425		$	1,399		$	1,398
Allowance for loans acquired from the FDIC and PCI	63			65			63			61			60
Reserve for unfunded lending commitments	110			96			92			90			93
Total	$	1,621		$	1,603		$	1,580		$	1,550		$	1,551

										As of/For the
										Nine Months Ended
										September 30
										2016			2015
Allowance for credit losses
Beginning balance										$	1,550		$	1,534
Provision for credit losses (excluding loans acquired from FDIC and PCI)										441			302
Provision (benefit) for loans acquired from FDIC and PCI										2			(3		)
Charge-offs:
Commercial:
Commercial and industrial										(105		)	(62		)
CRE-income producing properties										(7		)	(17		)
CRE-construction and development										(1		)	(3		)
Dealer floor plan										—			—
Direct retail lending										(37		)	(40		)
Sales finance										(21		)	(16		)
Revolving credit										(53		)	(54		)
Residential mortgage-nonguaranteed										(26		)	(26		)
Residential mortgage-government guaranteed										(4		)	(4		)
Other lending subsidiaries										(256		)	(201		)
Acquired from FDIC and PCI										—			(1		)
Total charge-offs										(510		)	(424		)
Recoveries:
Commercial:
Commercial and industrial										30			29
CRE-income producing properties										7			6
CRE-construction and development										9			9
Dealer floor plan										—			—
Direct retail lending										20			23
Sales finance										9			7
Revolving credit										15			15
Residential mortgage-nonguaranteed										3			2
Residential mortgage-government guaranteed										—			—
Other lending subsidiaries										36			27
Total recoveries										129			118
Net charge-offs										(381		)	(306		)
Other										9			24
Ending balance										$	1,621		$	1,551

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BB&T Corporation
Credit Quality
	As of/For the Quarter Ended
	Sept. 30		June 30		March 31		Dec. 31		Sept. 30
	2016		2016		2016		2015		2015
Asset Quality Ratios
Loans 30-89 days past due and still accruing as a percentage of loans and leases	0.69	%	0.64	%	0.61	%	0.76	%	0.67	%
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.42		0.43		0.45		0.50		0.54
Nonperforming loans and leases as a percentage of loans and leases	0.53		0.56		0.58		0.42		0.43
Nonperforming assets as a percentage of:
Total assets	0.38		0.40		0.42		0.34		0.36
Loans and leases plus foreclosed property	0.59		0.62		0.67		0.52		0.55
Net charge-offs as a percentage of average loans and leases	0.37		0.28		0.46		0.38		0.32
Allowance for loan and lease losses as a percentage of loans and leases	1.06		1.06		1.10		1.07		1.08
Ratio of allowance for loan and lease losses to:
Net charge-offs	2.91X		3.88X		2.40X		2.83X		3.44X
Nonperforming loans and leases	2.00X		1.90X		1.89X		2.53X		2.49X
Asset Quality Ratios (Excluding Government Guaranteed and Acquired From FDIC and PCI) (1)
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.06	%	0.05	%	0.06	%	0.06	%	0.06	%

							As of/For the
							Year Ended
							Sept. 30
							2016		2015
Asset Quality Ratios
Net charge-offs as a percentage of average loans and leases							0.37	%	0.33	%
Ratio of allowance for loan and lease losses to net charge-offs							2.97 X		3.58 X
Applicable ratios are annualized. Loans and leases exclude loans held for sale.
(1) The ratio of loans greater than 90 days and still accruing interest as a percentage of loans held for investment has been adjusted to remove the impact of loans that were covered by FDIC loss sharing agreements and purchased credit impaired ("PCI") loans as well as government guaranteed loans. Management believes that their inclusion may result in distortion of these ratios such that they might not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting or reflective of asset collectibility.

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BB&T Corporation
Credit Quality - Supplemental Information
(Dollars in millions)
	As of September 30, 2016
					Past Due 30-89					Past Due 90+
Troubled Debt Restructurings	Current Status				Days					Days					Total
Performing TDRs: (1)
Commercial:
Commercial and industrial	$	46	100.0	%	$	—		—	%	$	—		—	%	$	46
Commercial real estate—income producing properties	14		100.0		—			—		—			—		14
Commercial real estate—construction and development	8		100.0		—			—		—			—		8
Direct retail lending	66		95.7		3			4.3		—			—		69
Sales finance	15		93.7		1			6.3		—			—		16
Revolving credit	26		86.7		3			10.0		1			3.3		30
Residential mortgage—nonguaranteed	237		82.6		42			14.6		8			2.8		287
Residential mortgage—government guaranteed	188		47.8		67			17.1		138			35.1		393
Other lending subsidiaries	176		84.2		33			15.8		—			—		209
Total performing TDRs (1)	776		72.4		149			13.9		147			13.7		1,072
Nonperforming TDRs (2)	66		49.3		11			8.2		57			42.5		134
Total TDRs (1)(2)	$	842	69.8	%	$	160		13.3	%	$	204		16.9	%	$	1,206

					Quarter Ended
					Sept. 30			June 30		March 31			Dec. 31		Sept. 30
					2016			2016		2016			2015		2015
Net charge-offs as a percentage of average loans and leases:
Commercial:
Commercial and industrial					0.13		%	0.11	%	0.37		%	0.09	%	0.07		%
CRE—income producing properties					0.06			(0.02	)	(0.02		)	0.05		0.03
CRE—construction and development					(0.26		)	(0.48	)	(0.12		)	(0.10	)	(0.25		)
Direct retail lending					0.17			0.17		0.24			0.30		0.29
Sales finance					0.18			0.13		0.21			0.28		0.12
Revolving credit					1.97			1.86		2.19			1.85		1.88
Residential mortgage					0.16			0.11		0.09			0.19		0.11
Other lending subsidiaries					2.15			1.74		2.39			2.30		2.12
Acquired from FDIC and PCI					—			0.04		—			0.11		0.17
Total loans and leases					0.37			0.28		0.46			0.38		0.32
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
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Selected Capital Information
Risk-based capital:
Common equity tier 1	$	17,824		$	17,568		$	17,320		$	17,081		$	16,822
Tier 1	20,876			20,620			20,373			19,682			19,422
Total	24,795			24,525			24,355			23,753			23,612
Risk-weighted assets	177,149			176,021			166,781			166,611			165,990
Average quarterly tangible assets	212,825			214,235			202,200			201,541			195,623
Risk-based capital ratios:
Common equity tier 1	10.1		%	10.0		%	10.4		%	10.3		%	10.1		%
Tier 1	11.8			11.7			12.2			11.8			11.7
Total	14.0			13.9			14.6			14.3			14.2
Leverage capital ratio	9.8			9.6			10.1			9.8			9.9
Equity as a percentage of total assets	13.5			13.4			13.3			13.0			13.1
Common equity per common share	$	33.27		$	32.72		$	32.14		$	31.66		$	31.56

Calculations of Tangible Common Equity and Related Measures: (1)
Total shareholders' equity	$	30,091		$	29,743		$	28,239		$	27,340		$	27,264
Less:
Preferred stock	3,053			3,053			3,054			2,603			2,603
Noncontrolling interests	39			39			39			34			40
Intangible assets	10,519			10,567			9,215			9,234			9,198
Tangible common equity	$	16,480		$	16,084		$	15,931		$	15,469		$	15,423

Outstanding shares at end of period (in thousands)	811,424			814,500			782,379			780,337			780,150

Tangible Common Equity Per Common Share	$	20.31		$	19.75		$	20.36		$	19.82		$	19.77
(1) Tangible common equity and related measures 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)
													After-Tax at
Selected Items										Pre-Tax			Marginal Rate
Third Quarter 2016
Settlement of FHA-insured loans matters and related recovery	Other expense									$	73		$	46

Charitable contribution	Other expense									(50		)	(31		)

Second Quarter 2016
Income tax adjustment	Provision for income taxes									N/A			13

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
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
	2016			2016			2016			2015			2015
Selected Mortgage Banking Information
Income statement impact of mortgage servicing rights valuation:
MSRs fair value increase (decrease)	$	30		$	(76	)	$	(134	)	$	31		$	(89	)
MSRs hedge gains (losses)	3			86			143			(24		)	94
Net	$	33		$	10		$	9		$	7		$	5

Residential mortgage loan originations	$	6,264		$	5,605		$	3,602		$	3,535		$	5,039

Residential mortgage servicing portfolio (1):
Loans serviced for others	90,157			89,970			90,541			91,132			90,446
Bank-owned loans serviced	32,303			32,647			30,962			31,037			32,134
Total servicing portfolio	122,460			122,617			121,503			122,169			122,580

Weighted-average coupon rate	4.06		%	4.09		%	4.11		%	4.12		%	4.13		%
Weighted-average servicing fee	0.282			0.284			0.285			0.286			0.287
Selected Miscellaneous Information
Derivatives notional amount	$	74,548		$	79,068		$	70,658		$	67,525		$	72,978
Fair value of derivatives, net	80			180			224			178			286

Common stock prices:
High	38.81			37.02			37.03			39.47			41.90
Low	33.72			32.22			29.95			34.24			34.73
End of period	37.72			35.61			33.27			37.81			35.60

Banking offices	2,220			2,249			2,137			2,139			2,150
ATMs	3,183			3,321			3,185			3,181			3,361
FTEs	37,662			37,644			35,748			36,059			35,002
(1) Amounts reported are unpaid principal balance.

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BB&T Corporation
Non-GAAP Reconciliations
(Dollars in millions)
	Quarter Ended															Year-to-Date
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30			Sept. 30			Sept. 30
Efficiency Ratio (1)	2016			2016			2016			2015			2015			2016			2015
Efficiency Ratio Numerator - Noninterest Expense - GAAP	$	1,711		$	1,797		$	1,545		$	1,597		$	1,594		$	5,053		$	4,669
Amortization of intangibles	(38		)	(42		)	(32		)	(32		)	(29		)	(112		)	(73		)
Merger-related and restructuring charges, net	(43		)	(92		)	(23		)	(50		)	(77		)	(158		)	(115		)
Gain (loss) on early extinguishment of debt	—			—			1			—			—			1			(172		)
Charitable contribution	(50		)	—			—			—			—			(50		)	—
Settlement of FHA-insured loan matters and related recovery	73			—			—			—			—			73			—
Efficiency Ratio Numerator - Adjusted	$	1,653		$	1,663		$	1,491		$	1,515		$	1,488		$	4,807		$	4,309

Efficiency Ratio Denominator - Revenue - GAAP	$	2,774		$	2,747		$	2,545		$	2,519		$	2,452		$	8,066		$	7,092
Taxable equivalent adjustment	40			40			39			38			37			119			108
Securities (gains) losses, net	—			—			(45		)	—			2			(45		)	3
Loss on sale of American Coastal	—			—			—			—			—			—			26
Efficiency Ratio Denominator - Adjusted	$	2,814		$	2,787		$	2,539		$	2,557		$	2,491		$	8,140		$	7,229

Efficiency Ratio - GAAP	61.7		%	65.4		%	60.7		%	63.4		%	65.0		%	62.6		%	65.8		%
Efficiency Ratio - Adjusted	58.7			59.6			58.8			59.2			59.8			59.1			59.6
(1) BB&T's management uses this measure in their analysis of the Corporation's performance and believes it provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.



	Quarter Ended
	Sept. 30			June 30			March 31			Dec. 31			Sept. 30
Return on Average Tangible Common Shareholders' Equity (1)	2016			2016			2016			2015			2015
Net income available to common shareholders	$	599		$	541		$	527		$	502		$	492
Plus: Amortization of intangibles, net of tax	24			26			20			21			18
Tangible net income available to common shareholders	$	623		$	567		$	547		$	523		$	510

Average common shareholders' equity	$	26,824		$	26,519		$	25,076		$	24,736		$	23,957
Less: Average intangible assets	10,545			10,574			9,226			9,224			8,666
Average tangible common shareholders' equity	$	16,279		$	15,945		$	15,850		$	15,512		$	15,291
Return on average tangible common shareholders' equity	15.20		%	14.33		%	13.87		%	13.37		%	13.23		%

										Year-to-Date Sept. 30,
										2016			2015
Net income available to common shareholders										$	1,667		$	1,434
Plus: Amortization of intangibles, net of tax										70			45
Tangible net income available to common shareholders										$	1,737		$	1,479

Average common shareholders' equity										$	26,142		$	22,690
Less: Average intangible assets										10,117			7,847
Average tangible common shareholders' equity										$	16,025		$	14,843
Return on average tangible common shareholders' equity										14.48		%	13.32		%
(1) BB&T's management uses this measure to evaluate the return on average common shareholders' equity without the impact of intangible assets and their related amortization and believes that investors may find the information useful in their analysis of the company.

TRUIST FINANCIAL CORP - FORM 8-K - EX-99.2 - QUARTERLY PERFORMANCE SUMMARY - October 18, 2016

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TRUIST FINANCIAL CORP Reports