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	form8k-earnings_1q17.htm
EX-99.3 - EXHIBIT 99.3 - TRUIST FINANCIAL CORP	ex993-earningsslides_1q1.htm
EX-99.1 - EXHIBIT 99.1 - TRUIST FINANCIAL CORP	ex991-earningstext_1q17.htm

Exhibit 99.2

BB&T Corporation

Quarterly Performance Summary

First Quarter 2017



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
Segment 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
Credit Quality		12
Credit Quality - Supplemental Information		15
Preliminary Capital Information - Five Quarter Trend		16
Selected Items, Selected Mortgage Banking Information & Additional Information		17
Non-GAAP Reconciliations		18



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BB&T Corporation
Financial Highlights
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended
	March 31						%
	2017			2016			Change
Summary Income Statement
Interest income	$	1,815		$	1,760		3.1	%
Interest expense	166			192			(13.5	)
Net interest income - taxable equivalent	1,649			1,568			5.2
Less: Taxable-equivalent adjustment	40			39			2.6
Net interest income	1,609			1,529			5.2
Provision for credit losses	148			184			(19.6	)
Net interest income after provision for credit losses	1,461			1,345			8.6
Noninterest income	1,171			1,016			15.3
Noninterest expense	2,102			1,545			36.1
Income before income taxes	530			816			(35.0	)
Provision for income taxes	104			246			(57.7	)
Net income	426			570			(25.3	)
Noncontrolling interests	5			6			(16.7	)
Preferred stock dividends	43			37			16.2
Net income available to common shareholders	378			527			(28.3	)
Per Common Share Data
Earnings:
Basic	$	0.47		$	0.67		(29.9	)%
Diluted	0.46			0.67			(31.3	)
Cash dividends declared	0.30			0.27			11.1
Common equity	33.19			32.14			3.3
Tangible common equity (1)	20.33			20.36			(0.1	)

End of period shares outstanding	811,370			782,379			3.7
Weighted average shares:
Basic	809,903			781,193			3.7
Diluted	822,719			790,176			4.1
Performance Ratios
Return on average assets	0.79		%	1.09		%
Return on average risk-weighted assets	0.98			1.37
Return on average common shareholders' equity	5.72			8.45
Return on average tangible common shareholders' equity (2)	9.98			13.87
Net interest margin - taxable equivalent	3.46			3.43
Fee income ratio	42.1			39.9
Efficiency ratio-GAAP	75.6			60.7
Efficiency ratio-adjusted (3)	58.0			58.8
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.36		%	0.42		%
Loans and leases plus foreclosed property	0.56			0.67
Net charge-offs as a percentage of average loans and leases	0.42			0.46
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.04			1.10
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	2.05x			1.89x
Average Balances
Total assets	$	219,961		$	210,102		4.7	%
Total securities (4)	44,607			44,580			0.1
Loans and leases	143,698			135,628			6.0
Deposits	161,383			149,867			7.7
Common shareholders' equity	26,807			25,076			6.9
Shareholders' equity	29,903			27,826			7.5
Period-End Balances
Total assets	$	220,501		$	212,405		3.8	%
Total securities (4)	44,877			46,480			(3.4	)
Loans and leases	143,896			136,671			5.3
Deposits	161,333			150,500			7.2
Common shareholders' equity	26,928			25,146			7.1
Shareholders' equity	30,025			28,239			6.3
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.3		%	10.4		%
Tier 1	12.0			12.2
Total	14.1			14.6
Leverage	10.0			10.1
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 adjusted efficiency ratio is a non-GAAP measure and excludes certain items as detailed in the Non-GAAP Reconciliations section of this supplement. See the calculations and management's reasons for using this measure 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
	2017			2016			2016			2016			2016
Summary Income Statement
Interest income	$	1,815		$	1,786		$	1,835		$	1,845		$	1,760
Interest expense	166			180			185			188			192
Net interest income - taxable equivalent	1,649			1,606			1,650			1,657			1,568
Less: Taxable-equivalent adjustment	40			41			40			40			39
Net interest income	1,609			1,565			1,610			1,617			1,529
Provision for credit losses	148			129			148			111			184
Net interest income after provision for credit losses	1,461			1,436			1,462			1,506			1,345
Noninterest income	1,171			1,162			1,164			1,130			1,016
Noninterest expense	2,102			1,668			1,711			1,797			1,545
Income before income taxes	530			930			915			839			816
Provision for income taxes	104			287			273			252			246
Net income	426			643			642			587			570
Noncontrolling interests	5			7			—			3			6
Preferred stock dividends	43			44			43			43			37
Net income available to common shareholders	378			592			599			541			527
Per Common Share Data
Earnings:
Basic	$	0.47		$	0.73		$	0.74		$	0.67		$	0.67
Diluted	0.46			0.72			0.73			0.66			0.67
Cash dividends declared	0.30			0.30			0.30			0.28			0.27
Common equity	33.19			33.14			33.27			32.72			32.14
Tangible common equity (1)	20.33			20.18			20.31			19.75			20.36

End of period shares outstanding	811,370			809,475			811,424			814,500			782,379
Weighted average shares:
Basic	809,903			810,593			812,521			814,261			781,193
Diluted	822,719			821,971			823,106			823,682			790,176
Performance Ratios
Return on average assets	0.79		%	1.16		%	1.15		%	1.06		%	1.09		%
Return on average risk-weighted assets	0.98			1.45			1.45			1.38			1.37
Return on average common shareholders' equity	5.72			8.75			8.87			8.21			8.45
Return on average tangible common shareholders' equity (2)	9.98			14.91			15.20			14.33			13.87
Net interest margin - taxable equivalent	3.46			3.32			3.39			3.41			3.43
Fee income ratio	42.1			42.6			41.9			41.2			39.9
Efficiency ratio-GAAP	75.6			61.1			61.7			65.4			60.7
Efficiency ratio-adjusted (3)	58.0			59.5			58.7			59.6			58.8
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.36		%	0.37		%	0.38		%	0.40		%	0.42		%
Loans and leases plus foreclosed property	0.56			0.57			0.59			0.62			0.67
Net charge-offs as a percentage of average loans and leases	0.42			0.42			0.37			0.28			0.46
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.04			1.04			1.06			1.06			1.10
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	2.05x			2.03x			2.00x			1.90x			1.89x
Average Balances
Total assets	$	219,961		$	220,165		$	222,065		$	223,399		$	210,102
Total securities (4)	44,607			44,881			47,152			48,510			44,580
Loans and leases	143,698			144,569			143,689			143,097			135,628
Deposits	161,383			160,118			159,503			160,338			149,867
Common shareholders' equity	26,807			26,962			26,824			26,519			25,076
Shareholders' equity	29,903			30,054			29,916			29,610			27,826
Period-End Balances
Total assets	$	220,501		$	219,276		$	222,622		$	221,859		$	212,405
Total securities (4)	44,877			43,606			47,199			47,006			46,480
Loans and leases	143,896			145,038			145,112			144,711			136,671
Deposits	161,333			160,234			159,915			159,238			150,500
Common shareholders' equity	26,928			26,828			26,999			26,651			25,146
Shareholders' equity	30,025			29,926			30,091			29,743			28,239
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.3		%	10.2		%	10.1		%	10.0		%	10.4		%
Tier 1	12.0			12.0			11.8			11.7			12.2
Total	14.1			14.1			14.0			13.9			14.6
Leverage	10.0			10.0			9.8			9.6			10.1
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 adjusted efficiency ratio is a non-GAAP measure and excludes certain items as detailed in the Non-GAAP Reconciliations section of this supplement. See the calculations and management's reasons for using this measure 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
	2017		2016			$			%
Interest Income
Interest and fees on loans and leases	$	1,501	$	1,442		$	59		4.1	%
Interest and dividends on securities	258		255			3			1.2
Interest on other earning assets	16		24			(8		)	(33.3	)
Total interest income	1,775		1,721			54			3.1
Interest Expense
Interest on deposits	69		64			5			7.8
Interest on short-term borrowings	2		2			—			—
Interest on long-term debt	95		126			(31		)	(24.6	)
Total interest expense	166		192			(26		)	(13.5	)
Net Interest Income	1,609		1,529			80			5.2
Provision for credit losses	148		184			(36		)	(19.6	)
Net Interest Income After Provision for Credit Losses	1,461		1,345			116			8.6
Noninterest Income
Insurance income	458		419			39			9.3
Service charges on deposits	168		154			14			9.1
Mortgage banking income	103		91			12			13.2
Investment banking and brokerage fees and commissions	91		97			(6		)	(6.2	)
Trust and investment advisory revenues	68		62			6			9.7
Bankcard fees and merchant discounts	59		56			3			5.4
Checkcard fees	51		45			6			13.3
Operating lease income	36		34			2			5.9
Income from bank-owned life insurance	29		31			(2		)	(6.5	)
FDIC loss share income, net	—		(60		)	60			(100.0	)
Securities gains (losses), net	—		45			(45		)	(100.0	)
Other income	108		42			66			157.1
Total noninterest income	1,171		1,016			155			15.3
Noninterest Expense
Personnel expense	1,011		915			96			10.5
Occupancy and equipment expense	193		191			2			1.0
Software expense	58		51			7			13.7
Outside IT services	49		41			8			19.5
Amortization of intangibles	38		32			6			18.8
Regulatory charges	39		30			9			30.0
Professional services	22		22			—			—
Loan-related expense	30		32			(2		)	(6.3	)
Merger-related and restructuring charges, net	36		23			13			56.5
Loss (gain) on early extinguishment of debt	392		(1		)	393			NM
Other expense	234		209			25			12.0
Total noninterest expense	2,102		1,545			557			36.1
Earnings
Income before income taxes	530		816			(286		)	(35.0	)
Provision for income taxes	104		246			(142		)	(57.7	)
Net income	426		570			(144		)	(25.3	)
Noncontrolling interests	5		6			(1		)	(16.7	)
Preferred stock dividends	43		37			6			16.2
Net income available to common shareholders	$	378	$	527		$	(149	)	(28.3	)%
Earnings Per Common Share
Basic	$	0.47	$	0.67		$	(0.20	)	(29.9	)
Diluted	0.46		0.67			(0.21		)	(31.3	)
Weighted Average Shares Outstanding
Basic	809,903		781,193			28,710			3.7
Diluted	822,719		790,176			32,543			4.1
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
	2017		2016			2016			2016			2016
Interest Income
Interest and fees on loans and leases	$	1,501	$	1,510		$	1,524		$	1,509		$	1,442
Interest and dividends on securities	258		226			262			286			255
Interest on other earning assets	16		9			9			10			24
Total interest income	1,775		1,745			1,795			1,805			1,721
Interest Expense
Interest on deposits	69		61			62			64			64
Interest on short-term borrowings	2		2			2			3			2
Interest on long-term debt	95		117			121			121			126
Total interest expense	166		180			185			188			192
Net Interest Income	1,609		1,565			1,610			1,617			1,529
Provision for credit losses	148		129			148			111			184
Net Interest Income After Provision for Credit Losses	1,461		1,436			1,462			1,506			1,345
Noninterest Income
Insurance income	458		419			410			465			419
Service charges on deposits	168		172			172			166			154
Mortgage banking income	103		107			154			111			91
Investment banking and brokerage fees and commissions	91		108			101			102			97
Trust and investment advisory revenues	68		69			68			67			62
Bankcard fees and merchant discounts	59		60			61			60			56
Checkcard fees	51		50			50			50			45
Operating lease income	36		34			34			35			34
Income from bank-owned life insurance	29		26			35			31			31
FDIC loss share income, net	—		—			(18		)	(64		)	(60		)
Securities gains (losses), net	—		1			—			—			45
Other income	108		116			97			107			42
Total noninterest income	1,171		1,162			1,164			1,130			1,016
Noninterest Expense
Personnel expense	1,011		1,004			1,006			1,039			915
Occupancy and equipment expense	193		198			203			194			191
Software expense	58		57			63			53			51
Outside IT services	49		50			51			44			41
Amortization of intangibles	38		38			38			42			32
Regulatory charges	39		42			41			32			30
Professional services	22		27			27			26			22
Loan-related expense	30		(6		)	33			36			32
Merger-related and restructuring charges, net	36		13			43			92			23
Loss (gain) on early extinguishment of debt	392		—			—			—			(1		)
Other expense	234		245			206			239			209
Total noninterest expense	2,102		1,668			1,711			1,797			1,545
Earnings
Income before income taxes	530		930			915			839			816
Provision for income taxes	104		287			273			252			246
Net income	426		643			642			587			570
Noncontrolling interests	5		7			—			3			6
Preferred stock dividends	43		44			43			43			37
Net income available to common shareholders	$	378	$	592		$	599		$	541		$	527
Earnings Per Common Share
Basic	$	0.47	$	0.73		$	0.74		$	0.67		$	0.67
Diluted	0.46		0.72			0.73			0.66			0.67
Weighted Average Shares Outstanding
Basic	809,903		810,593			812,521			814,261			781,193
Diluted	822,719		821,971			823,106			823,682			790,176

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BB&T Corporation
Segment Financial Performance - Preliminary
(Dollars in millions)

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Community Banking	2017			2016			2016			2016			2016
Net interest income (expense)	$	587		$	577		$	570		$	532		$	529
Net intersegment interest income (expense)	404			407			402			391			389
Segment net interest income	991			984			972			923			918
Allocated provision for credit losses	25			26			(3		)	23			(10		)
Noninterest income	313			317			317			305			288
Intersegment net referral fees (expenses)	38			43			43			42			32
Noninterest expense	435			440			446			434			422
Amortization of intangibles	18			18			19			18			19
Allocated corporate expenses	344			337			338			330			332
Income (loss) before income taxes	520			523			532			465			475
Provision (benefit) for income taxes	186			190			194			169			173
Segment net income (loss)	$	334		$	333		$	338		$	296		$	302
Identifiable segment assets (period end)	$	73,563		$	73,640		$	73,135		$	67,946		$	67,715

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Residential Mortgage Banking	2017			2016			2016			2016			2016
Net interest income (expense)	$	333		$	347		$	359		$	345		$	341
Net intersegment interest income (expense)	(222		)	(224		)	(226		)	(223		)	(227		)
Segment net interest income	111			123			133			122			114
Allocated provision for credit losses	5			14			9			12			10
Noninterest income	76			76			116			83			71
Intersegment net referral fees (expenses)	—			—			1			1			—
Noninterest expense	74			40			12			89			78
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	31			29			28			26			26
Income (loss) before income taxes	77			116			201			79			71
Provision (benefit) for income taxes	29			44			76			30			27
Segment net income (loss)	$	48		$	72		$	125		$	49		$	44
Identifiable segment assets (period end)	$	34,092		$	35,558		$	36,652		$	35,894		$	34,758

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Dealer Financial Services	2017			2016			2016			2016			2016
Net interest income (expense)	$	241		$	246		$	229		$	226		$	229
Net intersegment interest income (expense)	(45		)	(43		)	(39		)	(39		)	(40		)
Segment net interest income	196			203			190			187			189
Allocated provision for credit losses	95			86			76			58			76
Noninterest income	—			—			1			—			1
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	41			39			39			36			35
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	14			12			11			11			11
Income (loss) before income taxes	46			66			65			82			68
Provision (benefit) for income taxes	17			25			25			31			26
Segment net income (loss)	$	29		$	41		$	40		$	51		$	42
Identifiable segment assets (period end)	$	16,191		$	16,556		$	15,090		$	14,463		$	14,692

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Specialized Lending	2017			2016			2016			2016			2016
Net interest income (expense)	$	175		$	177		$	177		$	172		$	168
Net intersegment interest income (expense)	(74		)	(72		)	(71		)	(68		)	(68		)
Segment net interest income	101			105			106			104			100
Allocated provision for credit losses	16			13			18			14			19
Noninterest income	70			73			80			70			62
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	69			87			71			68			62
Amortization of intangibles	3			1			1			1			1
Allocated corporate expenses	20			21			20			18			17
Income (loss) before income taxes	63			56			76			73			63
Provision (benefit) for income taxes	13			10			18			17			13
Segment net income (loss)	$	50		$	46		$	58		$	56		$	50
Identifiable segment assets (period end)	$	17,770		$	17,583		$	17,823		$	17,233		$	16,351

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BB&T Corporation
Segment Financial Performance - Preliminary
(Dollars in millions)

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Insurance Holdings	2017			2016			2016			2016			2016
Net interest income (expense)	$	—		$	1		$	1		$	1		$	—
Net intersegment interest income (expense)	2			1			1			1			1
Segment net interest income	2			2			2			2			1
Allocated provision for credit losses	—			—			—			—			—
Noninterest income	462			428			412			465			421
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	342			331			332			350			299
Amortization of intangibles	16			16			15			18			11
Allocated corporate expenses	31			27			28			28			28
Income (loss) before income taxes	75			56			39			71			84
Provision (benefit) for income taxes	28			22			16			27			31
Segment net income (loss)	$	47		$	34		$	23		$	44		$	53
Identifiable segment assets (period end)	$	3,377		$	3,463		$	3,342		$	3,590		$	2,800

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Financial Services	2017			2016			2016			2016			2016
Net interest income (expense)	$	65		$	64		$	65		$	68		$	63
Net intersegment interest income (expense)	89			88			88			82			79
Segment net interest income	154			152			153			150			142
Allocated provision for credit losses	1			(2		)	32			6			90
Noninterest income	216			258			229			212			199
Intersegment net referral fees (expenses)	5			8			6			5			3
Noninterest expense	183			191			191			189			182
Amortization of intangibles	2			2			1			1			1
Allocated corporate expenses	45			39			38			37			37
Income (loss) before income taxes	144			188			126			134			34
Provision (benefit) for income taxes	53			71			47			50			13
Segment net income (loss)	$	91		$	117		$	79		$	84		$	21
Identifiable segment assets (period end)	$	18,337		$	17,233		$	17,570		$	17,360		$	17,763

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Other, Treasury & Corporate (1)(2)	2017			2016			2016			2016			2016
Net interest income (expense)	$	208		$	153		$	209		$	273		$	199
Net intersegment interest income (expense)	(154		)	(157		)	(155		)	(144		)	(134		)
Segment net interest income	54			(4		)	54			129			65
Allocated provision for credit losses	6			(8		)	16			(2		)	(1		)
Noninterest income	34			10			9			(5		)	(26		)
Intersegment net referral fees (expenses)	(43		)	(51		)	(50		)	(48		)	(35		)
Noninterest expense	920			502			582			589			435
Amortization of intangibles	(1		)	1			2			4			—
Allocated corporate expenses	(485		)	(465		)	(463		)	(450		)	(451		)
Income (loss) before income taxes	(395		)	(75		)	(124		)	(65		)	21
Provision (benefit) for income taxes	(222		)	(75		)	(103		)	(72		)	(37		)
Segment net income (loss)	$	(173	)	$	—		$	(21	)	$	7		$	58
Identifiable segment assets (period end)	$	57,171		$	55,243		$	59,010		$	65,373		$	58,326

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Total BB&T Corporation	2017			2016			2016			2016			2016
Net interest income (expense)	$	1,609		$	1,565		$	1,610		$	1,617		$	1,529
Net intersegment interest income (expense)	—			—			—			—			—
Segment net interest income	1,609			1,565			1,610			1,617			1,529
Allocated provision for credit losses	148			129			148			111			184
Noninterest income	1,171			1,162			1,164			1,130			1,016
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	2,064			1,630			1,673			1,755			1,513
Amortization of intangibles	38			38			38			42			32
Allocated corporate expenses	—			—			—			—			—
Income (loss) before income taxes	530			930			915			839			816
Provision (benefit) for income taxes	104			287			273			252			246
Segment net income (loss)	$	426		$	643		$	642		$	587		$	570
Identifiable segment assets (period end)	$	220,501		$	219,276		$	222,622		$	221,859		$	212,405
Effective January 2017, several business activities were realigned within the segments. Results for prior periods have been revised to reflect the new structure.
(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
	March 31			Dec. 31			Sept. 30			June 30			March 31
	2017			2016			2016			2016			2016
Assets
Cash and due from banks	$	1,739		$	1,897		$	1,850		$	1,958		$	1,825
Interest-bearing deposits with banks	2,056			1,895			930			510			786
Federal funds sold and securities purchased under resale agreements or similar arrangements	238			144			192			145			167
Restricted cash	447			488			654			846			666
Securities available for sale at fair value	26,668			26,926			29,449			28,244			27,129
Securities held to maturity at amortized cost	18,209			16,680			17,750			18,762			19,351
Loans and leases:
Commercial:
Commercial and industrial	51,607			51,719			51,779			52,103			48,727
CRE-income producing properties	14,781			14,538			14,624			14,872			13,728
CRE-construction and development	3,850			3,819			3,864			3,690			3,416
Dealer floor plan	1,467			1,413			1,288			1,308			1,266
Direct retail lending	11,977			12,092			12,022			12,025			11,085
Sales finance	10,565			11,267			9,964			9,429			9,784
Revolving credit	2,574			2,655			2,561			2,512			2,449
Residential mortgage	29,651			29,921			30,369			30,650			29,998
Other lending subsidiaries	15,273			14,988			14,945			14,528			13,587
PCI	860			910			1,007			1,109			1,056
Total loans and leases held for investment	142,605			143,322			142,423			142,226			135,096
Loans held for sale	1,291			1,716			2,689			2,485			1,575
Total loans and leases	143,896			145,038			145,112			144,711			136,671
Allowance for loan and lease losses	(1,487		)	(1,489		)	(1,511		)	(1,507		)	(1,488		)
Premises and equipment	2,104			2,107			2,059			2,088			2,001
Goodwill	9,618			9,638			9,627			9,621			8,559
Core deposit and other intangible assets	818			854			892			946			656
Mortgage servicing rights at fair value	1,088			1,052			828			785			860
Other assets	15,107			14,046			14,790			14,750			15,222
Total assets	$	220,501		$	219,276		$	222,622		$	221,859		$	212,405
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	53,262		$	50,697		$	51,000		$	49,180		$	47,258
Interest checking	29,472			30,263			27,709			28,528			25,915
Money market and savings	64,860			64,883			64,090			64,064			60,349
Time deposits	13,739			14,391			17,116			17,466			16,978
Total deposits	161,333			160,234			159,915			159,238			150,500
Short-term borrowings	2,019			1,406			4,064			1,472			4,130
Long-term debt	21,635			21,965			22,776			24,435			22,823
Accounts payable and other liabilities	5,489			5,745			5,776			6,971			6,713
Total liabilities	190,476			189,350			192,531			192,116			184,166
Shareholders' equity:
Preferred stock	3,053			3,053			3,053			3,053			3,054
Common stock	4,057			4,047			4,057			4,073			3,912
Additional paid-in capital	9,063			9,104			9,233			9,311			8,360
Retained earnings	14,933			14,809			14,459			14,104			13,791
Accumulated other comprehensive loss	(1,125		)	(1,132		)	(750		)	(837		)	(917		)
Noncontrolling interests	44			45			39			39			39
Total shareholders' equity	30,025			29,926			30,091			29,743			28,239
Total liabilities and shareholders' equity	$	220,501		$	219,276		$	222,622		$	221,859		$	212,405

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BB&T Corporation
Average Balance Sheets
(Dollars in millions)
	Quarter Ended
	March 31				Change
	2017		2016		$			%
Assets
Securities at amortized cost (1):
U.S. Treasury	$	4,730	$	2,777	$	1,953		70.3	%
U.S. government-sponsored entities (GSE)	2,386		5,065		(2,679		)	(52.9	)
Mortgage-backed securities issued by GSE	34,909		33,774		1,135			3.4
States and political subdivisions	2,091		2,266		(175		)	(7.7	)
Non-agency mortgage-backed	432		636		(204		)	(32.1	)
Other	59		62		(3		)	(4.8	)
Total securities	44,607		44,580		27			0.1
Other earning assets	4,259		3,404		855			25.1
Loans and leases:
Commercial:
Commercial and industrial	51,119		48,013		3,106			6.5
CRE-income producing properties	14,602		13,490		1,112			8.2
CRE-construction and development	3,844		3,619		225			6.2
Dealer floor plan	1,427		1,239		188			15.2
Direct retail lending	12,014		11,107		907			8.2
Sales finance	10,896		10,049		847			8.4
Revolving credit	2,607		2,463		144			5.8
Residential mortgage	29,701		29,864		(163		)	(0.5	)
Other lending subsidiaries	14,919		13,439		1,480			11.0
PCI	883		1,098		(215		)	(19.6	)
Total loans and leases held for investment	142,012		134,381		7,631			5.7
Loans held for sale	1,686		1,247		439			35.2
Total loans and leases	143,698		135,628		8,070			6.0
Total earning assets	192,564		183,612		8,952			4.9
Nonearning assets	27,397		26,490		907			3.4
Total assets	$	219,961	$	210,102	$	9,859		4.7	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	51,095	$	46,203	$	4,892		10.6	%
Interest checking	29,578		25,604		3,974			15.5
Money market and savings	64,857		60,424		4,433			7.3
Time deposits	14,924		16,884		(1,960		)	(11.6	)
Foreign office deposits - interest-bearing	929		752		177			23.5
Total deposits	161,383		149,867		11,516			7.7
Short-term borrowings	2,105		2,771		(666		)	(24.0	)
Long-term debt	20,757		22,907		(2,150		)	(9.4	)
Accounts payable and other liabilities	5,813		6,731		(918		)	(13.6	)
Total liabilities	190,058		182,276		7,782			4.3
Shareholders' equity	29,903		27,826		2,077			7.5
Total liabilities and shareholders' equity	$	219,961	$	210,102	$	9,859		4.7	%
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
	2017		2016		2016		2016		2016
Assets
Securities at amortized cost (1):
U.S. Treasury	$	4,730	$	3,744	$	3,460	$	2,252	$	2,777
U.S. government-sponsored entities (GSE)	2,386		2,378		2,786		4,199		5,065
Mortgage-backed securities issued by GSE	34,909		35,954		37,987		38,911		33,774
States and political subdivisions	2,091		2,269		2,356		2,555		2,266
Non-agency mortgage-backed	432		474		502		526		636
Other	59		62		61		67		62
Total securities	44,607		44,881		47,152		48,510		44,580
Other earning assets	4,259		3,124		3,068		3,215		3,404
Loans and leases:
Commercial:
Commercial and industrial	51,119		51,306		51,508		51,646		48,013
CRE-income producing properties	14,602		14,566		14,667		14,786		13,490
CRE-construction and development	3,844		3,874		3,802		3,669		3,619
Dealer floor plan	1,427		1,367		1,268		1,305		1,239
Direct retail lending	12,014		12,046		11,994		12,031		11,107
Sales finance	10,896		10,599		9,339		9,670		10,049
Revolving credit	2,607		2,608		2,537		2,477		2,463
Residential mortgage	29,701		30,044		30,357		30,471		29,864
Other lending subsidiaries	14,919		14,955		14,742		13,961		13,439
PCI	883		974		1,052		1,130		1,098
Total loans and leases held for investment	142,012		142,339		141,266		141,146		134,381
Loans held for sale	1,686		2,230		2,423		1,951		1,247
Total loans and leases	143,698		144,569		143,689		143,097		135,628
Total earning assets	192,564		192,574		193,909		194,822		183,612
Nonearning assets	27,397		27,591		28,156		28,577		26,490
Total assets	$	219,961	$	220,165	$	222,065	$	223,399	$	210,102
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	51,095	$	51,421	$	50,559	$	48,801	$	46,203
Interest checking	29,578		28,634		27,754		28,376		25,604
Money market and savings	64,857		63,884		64,335		63,195		60,424
Time deposits	14,924		15,693		15,818		18,101		16,884
Foreign office deposits - interest-bearing	929		486		1,037		1,865		752
Total deposits	161,383		160,118		159,503		160,338		149,867
Short-term borrowings	2,105		2,373		2,128		2,951		2,771
Long-term debt	20,757		21,563		23,428		23,272		22,907
Accounts payable and other liabilities	5,813		6,057		7,090		7,228		6,731
Total liabilities	190,058		190,111		192,149		193,789		182,276
Shareholders' equity	29,903		30,054		29,916		29,610		27,826
Total liabilities and shareholders' equity	$	219,961	$	220,165	$	222,065	$	223,399	$	210,102
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, 2017						December 31, 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	$	4,730	$	20	1.72	%	$	3,744	$	15		1.62	%
U.S. government-sponsored entities (GSE)	2,386		13		2.22		2,378		13			2.23
Mortgage-backed securities issued by GSE	34,909		189		2.16		35,954		185			2.06
States and political subdivisions	2,091		27		5.13		2,269		29			5.01
Non-agency mortgage-backed	432		20		18.85		474		(3		)	(3.06	)
Other	59		—		1.89		62		(1		)	2.31
Total securities	44,607		269		2.42		44,881		238			2.13
Other earning assets	4,259		16		1.49		3,124		10			1.21
Loans and leases:
Commercial:
Commercial and industrial	51,119		433		3.43		51,306		426			3.30
CRE-income producing properties	14,602		133		3.71		14,566		132			3.60
CRE-construction and development	3,844		35		3.69		3,874		35			3.61
Dealer floor plan	1,427		8		2.32		1,367		7			2.16
Direct retail lending	12,014		129		4.33		12,046		128			4.22
Sales finance	10,896		86		3.19		10,599		90			3.36
Revolving credit	2,607		57		8.79		2,608		57			8.71
Residential mortgage	29,701		297		4.01		30,044		299			3.97
Other lending subsidiaries	14,919		294		7.99		14,955		297			7.92
PCI	883		43		19.72		974		49			20.07
Total loans and leases held for investment	142,012		1,515		4.31		142,339		1,520			4.25
Loans held for sale	1,686		15		3.49		2,230		18			3.12
Total loans and leases	143,698		1,530		4.30		144,569		1,538			4.24
Total earning assets	192,564		1,815		3.80		192,574		1,786			3.70
Nonearning assets	27,397						27,591
Total assets	$	219,961					$	220,165
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	29,578	13		0.18		$	28,634	10			0.14
Money market and savings	64,857		37		0.23		63,884		31			0.20
Time deposits	14,924		17		0.48		15,693		19			0.48
Foreign office deposits - interest-bearing	929		2		0.67		486		1			0.38
Total interest-bearing deposits	110,288		69		0.26		108,697		61			0.22
Short-term borrowings	2,105		2		0.43		2,373		2			0.34
Long-term debt	20,757		95		1.83		21,563		117			2.16
Total interest-bearing liabilities	133,150		166		0.50		132,633		180			0.54
Noninterest-bearing deposits	51,095						51,421
Accounts payable and other liabilities	5,813						6,057
Shareholders' equity	29,903						30,054
Total liabilities and shareholders' equity	$	219,961					$	220,165
Average interest-rate spread					3.30							3.16

Net interest income/ net interest margin			$	1,649	3.46	%			$	1,606		3.32	%
Taxable-equivalent adjustment			$	40					$	41
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis utilizing the marginal income tax rates for the periods presented.
(3) 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						March 31, 2016
	(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	$	3,460	$	14	1.63	%	$	2,252	$	10	1.76	%	$	2,777	$	12	1.70	%
U.S. government-sponsored entities (GSE)	2,786		16		2.18		4,199		21		2.06		5,065		27		2.11
Mortgage-backed securities issued by GSE	37,987		195		2.05		38,911		203		2.09		33,774		167		1.98
States and political subdivisions	2,356		30		5.16		2,555		34		5.24		2,266		30		5.37
Non-agency mortgage-backed	502		19		14.81		526		31		23.81		636		31		19.81
Other	61		—		1.67		67		1		1.91		62		—		1.57
Total securities	47,152		274		2.32		48,510		300		2.47		44,580		267		2.40
Other earning assets	3,068		9		1.17		3,215		9		1.22		3,404		25		2.87
Loans and leases:
Commercial:
Commercial and industrial	51,508		436		3.37		51,646		433		3.37		48,013		392		3.29
CRE-income producing properties	14,667		138		3.75		14,786		139		3.79		13,490		127		3.77
CRE-construction and development	3,802		36		3.74		3,669		34		3.74		3,619		34		3.75
Dealer floor plan	1,268		7		2.09		1,305		7		2.04		1,239		6		2.02
Direct retail lending	11,994		130		4.30		12,031		127		4.33		11,107		118		4.23
Sales finance	9,339		71		3.04		9,670		74		3.05		10,049		75		3.01
Revolving credit	2,537		56		8.80		2,477		54		8.73		2,463		54		8.82
Residential mortgage	30,357		308		4.06		30,471		312		4.09		29,864		305		4.10
Other lending subsidiaries	14,742		298		8.05		13,961		292		8.39		13,439		286		8.56
PCI	1,052		52		19.68		1,130		48		16.91		1,098		59		21.69
Total loans and leases held for investment	141,266		1,532		4.32		141,146		1,520		4.32		134,381		1,456		4.35
Loans held for sale	2,423		20		3.25		1,951		16		3.43		1,247		12		3.77
Total loans and leases	143,689		1,552		4.30		143,097		1,536		4.31		135,628		1,468		4.35
Total earning assets	193,909		1,835		3.77		194,822		1,845		3.80		183,612		1,760		3.85
Nonearning assets	28,156						28,577						26,490
Total assets	$	222,065					$	223,399					$	210,102
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	27,754	10		0.15		$	28,376	11		0.15		$	25,604	8		0.13
Money market and savings	64,335		31		0.19		63,195		29		0.19		60,424		32		0.21
Time deposits	15,818		20		0.50		18,101		23		0.51		16,884		23		0.55
Foreign office deposits - interest-bearing	1,037		1		0.38		1,865		1		0.38		752		1		0.36
Total interest-bearing deposits	108,944		62		0.23		111,537		64		0.23		103,664		64		0.25
Short-term borrowings	2,128		2		0.34		2,951		3		0.34		2,771		2		0.36
Long-term debt	23,428		121		2.05		23,272		121		2.10		22,907		126		2.19
Total interest-bearing liabilities	134,500		185		0.55		137,760		188		0.55		129,342		192		0.60
Noninterest-bearing deposits	50,559						48,801						46,203
Accounts payable and other liabilities	7,090						7,228						6,731
Shareholders' equity	29,916						29,610						27,826
Total liabilities and shareholders' equity	$	222,065					$	223,399					$	210,102
Average interest-rate spread					3.22						3.25						3.25

Net interest income/ net interest margin			$	1,650	3.39	%			$	1,657	3.41	%			$	1,568	3.43	%
Taxable-equivalent adjustment			$	40					$	40					$	39
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis utilizing the marginal income tax rates for the periods presented.
(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
	2017		2016		2016		2016		2016
Nonperforming Assets (1)
Nonaccrual loans and leases:
Commercial:
Commercial and industrial	$	344	$	363	$	413	$	452	$	442
CRE-income producing properties	43		40		38		36		48
CRE-construction and development	17		17		12		14		11
Dealer floor plan	7		—		—		—		—
Direct retail lending	66		63		55		52		51
Sales finance	6		6		6		5		7
Residential mortgage-nonguaranteed	167		172		167		171		163
Residential mortgage-government guaranteed	5		—		—		1		—
Other lending subsidiaries	68		75		66		62		64
Total nonaccrual loans and leases held for investment (1)(2)	723		736		757		793		786
Foreclosed real estate	49		50		58		70		89
Other foreclosed property	29		27		28		23		28
Total nonperforming assets (1)(2)	$	801	$	813	$	843	$	886	$	903
Performing Troubled Debt Restructurings (TDRs) (3)
Commercial:
Commercial and industrial	$	48	$	55	$	46	$	39	$	52
CRE-income producing properties	14		16		14		16		18
CRE-construction and development	11		9		8		10		13
Direct retail lending	65		67		69		69		70
Sales finance	15		16		16		16		17
Revolving credit	29		29		30		31		32
Residential mortgage-nonguaranteed	327		332		287		276		281
Residential mortgage-government guaranteed (4)	412		420		393		348		317
Other lending subsidiaries	232		226		209		198		181
Total performing TDRs (3)(4)	$	1,153	$	1,170	$	1,072	$	1,003	$	981
Loans 90 Days or More Past Due and Still Accruing
Direct retail lending	$	7	$	6	$	7	$	5	$	6
Sales finance	5		6		4		4		4
Revolving credit	10		12		9		8		10
Residential mortgage-nonguaranteed	64		79		66		56		55
Residential mortgage-government guaranteed (5)	374		443		414		415		434
PCI	82		90		92		122		100
Total loans 90 days past due and still accruing (5)	$	542	$	636	$	592	$	610	$	609
Loans 30-89 Days Past Due
Commercial:
Commercial and industrial	$	22	$	27	$	34	$	20	$	27
CRE-income producing properties	11		6		3		8		7
CRE-construction and development	1		2		2		2		6
Direct retail lending	55		60		62		53		48
Sales finance	51		76		60		61		53
Revolving credit	20		23		20		19		18
Residential mortgage-nonguaranteed	272		393		354		361		350
Residential mortgage-government guaranteed (6)	129		132		112		81		66
Other lending subsidiaries	215		322		288		261		207
PCI	29		36		45		48		43
Total loans 30-89 days past due (6)	$	805	$	1,077	$	980	$	914	$	825
Excludes loans held for sale.
(1) PCI loans are accounted for using the accretion method.
(2) Sales of nonperforming loans totaled approximately $74 million, $130 million, $63 million, $64 million and $45 million for the quarter ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.
(3) Excludes TDRs that are nonperforming totaling $214 million, $183 million, $134 million, $146 million and $172 million at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, 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 $29 million, $48 million, $46 million, $49 million and $323 million at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, 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, $3 million, $2 million, $2 million and $2 million at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, 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
	2017			2016			2016			2016			2016
Allowance for Credit Losses
Beginning balance	$	1,599		$	1,621		$	1,603		$	1,580		$	1,550
Provision for credit losses (excluding PCI loans)	146			133			150			109			182
Provision (benefit) for PCI loans	2			(4		)	(2		)	2			2
Charge-offs:
Commercial:
Commercial and industrial	(29		)	(23		)	(23		)	(26		)	(56		)
CRE-income producing properties	(1		)	(1		)	(5		)	—			(2		)
CRE-construction and development	—			—			(1		)	—			—
Dealer floor plan	—			—			—			—			—
Direct retail lending	(14		)	(16		)	(12		)	(12		)	(13		)
Sales finance	(9		)	(8		)	(7		)	(6		)	(8		)
Revolving credit	(21		)	(16		)	(18		)	(16		)	(19		)
Residential mortgage-nonguaranteed	(11		)	(9		)	(11		)	(8		)	(7		)
Residential mortgage-government guaranteed	(1		)	(1		)	(2		)	(1		)	(1		)
Other lending subsidiaries	(103		)	(102		)	(91		)	(73		)	(92		)
PCI	—			(15		)	—			—			—
Total charge-offs	(189		)	(191		)	(170		)	(142		)	(198		)
Recoveries:
Commercial:
Commercial and industrial	6			10			6			12			12
CRE-income producing properties	4			1			3			1			3
CRE-construction and development	2			2			3			5			1
Dealer floor plan	—			—			—			—			—
Direct retail lending	6			6			7			6			7
Sales finance	4			3			3			3			3
Revolving credit	5			5			5			5			5
Residential mortgage-nonguaranteed	—			—			1			1			1
Residential mortgage-government guaranteed	—			—			—			—			—
Other lending subsidiaries	14			13			12			12			12
Total recoveries	41			40			40			45			44
Net charge-offs	(148		)	(151		)	(130		)	(97		)	(154		)
Other	—			—			—			9			—
Ending balance	$	1,599		$	1,599		$	1,621		$	1,603		$	1,580
Allowance for Credit Losses
Allowance for loan and lease losses (excluding PCI loans)	$	1,441		$	1,445		$	1,448		$	1,442		$	1,425
Allowance for PCI loans	46			44			63			65			63
Reserve for unfunded lending commitments	112			110			110			96			92
Total	$	1,599		$	1,599		$	1,621		$	1,603		$	1,580

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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
	2017		2016		2016		2016		2016
Asset Quality Ratios
Loans 30-89 days past due and still accruing as a percentage of loans and leases	0.56	%	0.75	%	0.69	%	0.64	%	0.61	%
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.38		0.44		0.42		0.43		0.45
Nonperforming loans and leases as a percentage of loans and leases	0.51		0.51		0.53		0.56		0.58
Nonperforming assets as a percentage of:
Total assets	0.36		0.37		0.38		0.40		0.42
Loans and leases plus foreclosed property	0.56		0.57		0.59		0.62		0.67
Net charge-offs as a percentage of average loans and leases	0.42		0.42		0.37		0.28		0.46
Allowance for loan and lease losses as a percentage of loans and leases	1.04		1.04		1.06		1.06		1.10
Ratio of allowance for loan and lease losses to:
Net charge-offs	2.49X		2.47X		2.91X		3.88X		2.40X
Nonperforming loans and leases	2.05X		2.03X		2.00X		1.90X		1.89X
Asset Quality Ratios (Excluding Government Guaranteed and PCI)
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.06	%	0.07	%	0.06	%	0.05	%	0.06	%
Applicable ratios are annualized. Loans and leases exclude loans held for sale.

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BB&T Corporation
Credit Quality - Supplemental Information
(Dollars in millions)
	As of March 31, 2017
					Past Due 30-89					Past Due 90+
Troubled Debt Restructurings	Current Status				Days					Days					Total
Performing TDRs: (1)
Commercial:
Commercial and industrial	$	48	100.0	%	$	—		—	%	$	—		—	%	$	48
CRE-income producing properties	14		100.0		—			—		—			—		14
CRE-construction and development	11		100.0		—			—		—			—		11
Direct retail lending	63		96.9		2			3.1		—			—		65
Sales finance	14		93.3		1			6.7		—			—		15
Revolving credit	25		86.2		3			10.3		1			3.5		29
Residential mortgage—nonguaranteed	270		82.5		44			13.5		13			4.0		327
Residential mortgage—government guaranteed	182		44.2		67			16.3		163			39.5		412
Other lending subsidiaries	202		87.1		30			12.9		—			—		232
Total performing TDRs (1)	829		71.9		147			12.7		177			15.4		1,153
Nonperforming TDRs (2)	124		57.9		23			10.8		67			31.3		214
Total TDRs (1)(2)	$	953	69.7	%	$	170		12.4	%	$	244		17.9	%	$	1,367

					Quarter Ended
					March 31			Dec. 31		Sept. 30			June 30		March 31
					2017			2016		2016			2016		2016
Net charge-offs as a percentage of average loans and leases:
Commercial:
Commercial and industrial					0.18		%	0.10	%	0.13		%	0.11	%	0.37		%
CRE-income producing properties					(0.07		)	—		0.06			(0.02	)	(0.02		)
CRE-construction and development					(0.18		)	(0.16	)	(0.26		)	(0.48	)	(0.12		)
Direct retail lending					0.27			0.34		0.17			0.17		0.24
Sales finance					0.19			0.20		0.18			0.13		0.21
Revolving credit					2.50			1.80		1.97			1.86		2.19
Residential mortgage					0.15			0.13		0.16			0.11		0.09
Other lending subsidiaries					2.41			2.35		2.15			1.74		2.39
PCI					—			5.83		—			0.04		—
Total loans and leases					0.42			0.42		0.37			0.28		0.46
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
	2017			2016			2016			2016			2016
Selected Capital Information
Risk-based capital:
Common equity tier 1	$	18,063		$	18,050		$	17,824		$	17,568		$	17,320
Tier 1	21,115			21,102			20,876			20,620			20,373
Total	24,772			24,872			24,793			24,525			24,355
Risk-weighted assets	175,849			176,138			176,739			176,021			166,781
Average quarterly tangible assets	211,495			211,512			212,816			214,235			202,200
Risk-based capital ratios:
Common equity tier 1	10.3		%	10.2		%	10.1		%	10.0		%	10.4		%
Tier 1	12.0			12.0			11.8			11.7			12.2
Total	14.1			14.1			14.0			13.9			14.6
Leverage capital ratio	10.0			10.0			9.8			9.6			10.1
Equity as a percentage of total assets	13.6			13.6			13.5			13.4			13.3
Common equity per common share	$	33.19		$	33.14		$	33.27		$	32.72		$	32.14

Calculations of Tangible Common Equity and Related Measures: (1)
Total shareholders' equity	$	30,025		$	29,926		$	30,091		$	29,743		$	28,239
Less:
Preferred stock	3,053			3,053			3,053			3,053			3,054
Noncontrolling interests	44			45			39			39			39
Intangible assets	10,436			10,492			10,519			10,567			9,215
Tangible common equity	$	16,492		$	16,336		$	16,480		$	16,084		$	15,931

Outstanding shares at end of period (in thousands)	811,370			809,475			811,424			814,500			782,379

Tangible Common Equity Per Common Share	$	20.33		$	20.18		$	20.31		$	19.75		$	20.36
(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, Selected Mortgage Banking Information & Additional Information
(Dollars in millions, except per share data)
										Favorable (Unfavorable)
													After-Tax at
Selected Items										Pre-Tax			Marginal Rate
First Quarter 2017
Income tax benefit on equity-based awards	Provision for income taxes									N/A			$	35

Fourth Quarter 2016
Mortgage reserve adjustments	Loan-related expense									$	31		19

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		)

	As of / Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Selected Mortgage Banking Information	2017			2016			2016			2016			2016
Mortgage Banking Income
Residential mortgage production revenue	$	36		$	41		$	50		$	41		$	28
Residential mortgage servicing revenue	68			66			68			68			67
Realization of expected residential MSR cash flows	(34		)	(33		)	(35		)	(35		)	(32		)
Commercial mortgage production revenue	21			28			37			23			16
Commercial mortgage servicing revenue	10			9			10			9			9
Realization of expected commercial MSR cash flows	(6		)	(7		)	(9		)	(5		)	(6		)
Mortgage banking income before MSR valuation	95			104			121			101			82
Income statement impact of mortgage servicing rights valuation:
MSRs fair value increase (decrease)	28			204			30			(76		)	(134		)
MSRs hedge gains (losses)	(20		)	(201		)	3			86			143
Net MSRs valuation	8			3			33			10			9
Total mortgage banking income	$	103		$	107		$	154		$	111		$	91
Other Mortgage Banking Information
Residential mortgage loan originations	$	3,993		$	5,198		$	6,264		$	5,605		$	3,602
Residential mortgage servicing portfolio (1):
Loans serviced for others	90,855			90,325			90,157			89,970			90,541
Bank-owned loans serviced	30,396			31,314			32,303			32,647			30,962
Total servicing portfolio	121,251			121,639			122,460			122,617			121,503
Weighted-average coupon rate on mortgage loans serviced for others	4.01		%	4.03		%	4.06		%	4.09		%	4.11		%
Weighted-average servicing fee on mortgage loans serviced for others	0.280			0.281			0.282			0.284			0.285

	As of / Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Additional Information	2017			2016			2016			2016			2016
Derivatives notional amount	$	76,208		$	75,251		$	74,548		$	79,068		$	70,658
Fair value of derivatives, net	(230		)	(181		)	80			180			224

Common stock prices:
High	49.88			47.85			38.81			37.02			37.03
Low	42.73			37.40			33.72			32.22			29.95
End of period	44.70			47.02			37.72			35.61			33.27

Banking offices	2,193			2,196			2,220			2,249			2,137
ATMs	3,117			3,126			3,183			3,321			3,185
FTEs	37,383			37,480			37,662			37,644			35,748
(1) Amounts reported are unpaid principal balance.

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BB&T Corporation
Non-GAAP Reconciliations
(Dollars in millions)
	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Efficiency Ratio (1)	2017			2016			2016			2016			2016
Efficiency Ratio Numerator - Noninterest Expense - GAAP	$	2,102		$	1,668		$	1,711		$	1,797		$	1,545
Amortization of intangibles	(38		)	(38		)	(38		)	(42		)	(32		)
Merger-related and restructuring charges, net	(36		)	(13		)	(43		)	(92		)	(23		)
Gain (loss) on early extinguishment of debt	(392		)	—			—			—			1
Mortgage reserve adjustments	—			31			—			—			—
Charitable contribution	—			—			(50		)	—			—
Settlement of FHA-insured loan matters and related recovery	—			—			73			—			—
Efficiency Ratio Numerator - Adjusted	$	1,636		$	1,648		$	1,653		$	1,663		$	1,491

Efficiency Ratio Denominator - Revenue (2) - GAAP	$	2,780		$	2,727		$	2,774		$	2,747		$	2,545
Taxable equivalent adjustment	40			41			40			40			39
Securities (gains) losses, net	—			(1		)	—			—			(45		)
Efficiency Ratio Denominator - Adjusted	$	2,820		$	2,767		$	2,814		$	2,787		$	2,539

Efficiency Ratio - GAAP	75.6		%	61.1		%	61.7		%	65.4		%	60.7		%
Efficiency Ratio - Adjusted	58.0			59.5			58.7			59.6			58.8
(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.
(2) Revenue is defined as net interest income plus noninterest income.



	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
Return on Average Tangible Common Shareholders' Equity (1)	2017			2016			2016			2016			2016
Net income available to common shareholders	$	378		$	592		$	599		$	541		$	527
Plus: Amortization of intangibles, net of tax	24			24			24			26			20
Tangible net income available to common shareholders	$	402		$	616		$	623		$	567		$	547

Average common shareholders' equity	$	26,807		$	26,962		$	26,824		$	26,519		$	25,076
Less: Average intangible assets	10,464			10,508			10,545			10,574			9,226
Average tangible common shareholders' equity	$	16,343		$	16,454		$	16,279		$	15,945		$	15,850
Return on average tangible common shareholders' equity	9.98		%	14.91		%	15.20		%	14.33		%	13.87		%
(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 - EXHIBIT 99.2 - April 19, 2017

Attached files

TRUIST FINANCIAL CORP Reports