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

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EX-99.3 - EXHIBIT 99.3 - TRUIST FINANCIAL CORP	ex993-earningsdeck_2q17.htm
EX-99.1 - EXHIBIT 99.1 - TRUIST FINANCIAL CORP	ex991-earningstext_2q17.htm
8-K - 8-K - TRUIST FINANCIAL CORP	form8k-earnings_2q17.htm

Quarterly Performance Summary

BB&T Corporation

Second Quarter 2017



Table of Contents
Quarterly Performance Summary
BB&T Corporation




		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 Ending 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		12
Credit Quality		13
Preliminary Capital Information - Five Quarter Trend		17
Selected Items, Selected Mortgage Banking Information & Additional Information		18
Non-GAAP Reconciliations		19



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Financial Highlights
BB&T Corporation
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended								Year-to-Date
	June 30						%		June 30						%
	2017			2016			Change		2017			2016			Change
Summary Income Statement
Interest income	$	1,864		$	1,845		1.0	%	$	3,679		$	3,605		2.1	%
Interest expense	189			188			0.5		355			380			(6.6	)
Net interest income - taxable equivalent	1,675			1,657			1.1		3,324			3,225			3.1
Less: Taxable-equivalent adjustment	40			40			—		80			79			1.3
Net interest income	1,635			1,617			1.1		3,244			3,146			3.1
Provision for credit losses	135			111			21.6		283			295			(4.1	)
Net interest income after provision for credit losses	1,500			1,506			(0.4	)	2,961			2,851			3.9
Noninterest income	1,220			1,130			8.0		2,391			2,146			11.4
Noninterest expense	1,742			1,797			(3.1	)	3,844			3,342			15.0
Income before income taxes	978			839			16.6		1,508			1,655			(8.9	)
Provision for income taxes	304			252			20.6		408			498			(18.1	)
Net income	674			587			14.8		1,100			1,157			(4.9	)
Noncontrolling interests	(1		)	3			(133.3	)	4			9			(55.6	)
Preferred stock dividends	44			43			2.3		87			80			8.8
Net income available to common shareholders	631			541			16.6		1,009			1,068			(5.5	)
Per Common Share Data
Earnings per share-basic	$	0.78		$	0.67		16.4	%	$	1.25		$	1.34		(6.7	)%
Earnings per share-diluted	0.77			0.66			16.7		1.23			1.32			(6.8	)
Cash dividends declared	0.30			0.28			7.1		0.60			0.55			9.1
Common equity	33.73			32.72			3.1		33.73			32.72			3.1
Tangible common equity (1)	20.86			19.75			5.6		20.86			19.75			5.6

End of period shares outstanding	808,093			814,500			(0.8	)	808,093			814,500			(0.8	)
Weighted average shares outstanding-basic	808,980			814,261			(0.6	)	809,439			797,727			1.5
Weighted average shares outstanding-diluted	819,389			823,682			(0.5	)	821,072			806,839			1.8
Performance Ratios
Return on average assets	1.22		%	1.06		%			1.01		%	1.07		%
Return on average risk-weighted assets	1.53			1.38					1.26			1.38
Return on average common shareholders' equity	9.30			8.21					7.53			8.33
Return on average tangible common shareholders' equity (2)	15.60			14.33					12.85			14.10
Net interest margin - taxable equivalent	3.47			3.41					3.47			3.42
Fee income ratio	42.7			41.2					42.4			40.6
Efficiency ratio-GAAP	61.0			65.4					68.2			63.2
Efficiency ratio-adjusted (3)	58.6			59.6					58.3			59.2
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.31		%	0.40		%			0.31		%	0.40		%
Loans and leases plus foreclosed property	0.48			0.62					0.48			0.62
Net charge-offs as a percentage of average loans and leases	0.37			0.28					0.40			0.37
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.03			1.06					1.03			1.06
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	2.43x			1.90x					2.43x			1.90x
Average Balances
Total assets	$	221,018		$	223,399		(1.1	)%	$	220,493		$	216,751		1.7	%
Total securities (4)	45,410			48,510			(6.4	)	45,010			46,545			(3.3	)
Loans and leases	144,327			143,097			0.9		144,014			139,362			3.3
Deposits	160,263			160,338			—		160,820			155,102			3.7
Common shareholders' equity	27,208			26,519			2.6		27,008			25,798			4.7
Shareholders' equity	30,302			29,610			2.3		30,104			28,718			4.8
Period-End Balances
Total assets	$	221,192		$	221,859		(0.3	)%	$	221,192		$	221,859		(0.3	)%
Total securities (4)	45,283			47,006			(3.7	)	45,283			47,006			(3.7	)
Loans and leases	145,116			144,711			0.3		145,116			144,711			0.3
Deposits	156,968			159,238			(1.4	)	156,968			159,238			(1.4	)
Common shareholders' equity	27,254			26,651			2.3		27,254			26,651			2.3
Shareholders' equity	30,349			29,743			2.0		30,349			29,743			2.0
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.3		%	10.0		%			10.3		%	10.0		%
Tier 1	12.1			11.7					12.1			11.7
Total	14.1			13.9					14.1			13.9
Leverage	10.1			9.6					10.1			9.6
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 Preliminary 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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Financial Highlights - Five Quarter Trend
BB&T Corporation
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
	2017			2017			2016			2016			2016
Summary Income Statement
Interest income	$	1,864		$	1,815		$	1,786		$	1,835		$	1,845
Interest expense	189			166			180			185			188
Net interest income - taxable equivalent	1,675			1,649			1,606			1,650			1,657
Less: Taxable-equivalent adjustment	40			40			41			40			40
Net interest income	1,635			1,609			1,565			1,610			1,617
Provision for credit losses	135			148			129			148			111
Net interest income after provision for credit losses	1,500			1,461			1,436			1,462			1,506
Noninterest income	1,220			1,171			1,162			1,164			1,130
Noninterest expense	1,742			2,102			1,668			1,711			1,797
Income before income taxes	978			530			930			915			839
Provision for income taxes	304			104			287			273			252
Net income	674			426			643			642			587
Noncontrolling interests	(1		)	5			7			—			3
Preferred stock dividends	44			43			44			43			43
Net income available to common shareholders	631			378			592			599			541
Per Common Share Data
Earnings per share-basic	$	0.78		$	0.47		$	0.73		$	0.74		$	0.67
Earnings per share-diluted	0.77			0.46			0.72			0.73			0.66
Cash dividends declared	0.30			0.30			0.30			0.30			0.28
Common equity	33.73			33.19			33.14			33.27			32.72
Tangible common equity (1)	20.86			20.33			20.18			20.31			19.75

End of period shares outstanding	808,093			811,370			809,475			811,424			814,500
Weighted average shares outstanding-basic	808,980			809,903			810,593			812,521			814,261
Weighted average shares outstanding-diluted	819,389			822,719			821,971			823,106			823,682
Performance Ratios
Return on average assets	1.22		%	0.79		%	1.16		%	1.15		%	1.06		%
Return on average risk-weighted assets	1.53			0.98			1.45			1.45			1.38
Return on average common shareholders' equity	9.30			5.72			8.75			8.87			8.21
Return on average tangible common shareholders' equity (2)	15.60			9.98			14.91			15.20			14.33
Net interest margin - taxable equivalent	3.47			3.46			3.32			3.39			3.41
Fee income ratio	42.7			42.1			42.6			41.9			41.2
Efficiency ratio-GAAP	61.0			75.6			61.1			61.7			65.4
Efficiency ratio-adjusted (3)	58.6			58.0			59.5			58.7			59.6
Credit Quality
Nonperforming assets as a percentage of:
Total assets	0.31		%	0.36		%	0.37		%	0.38		%	0.40		%
Loans and leases plus foreclosed property	0.48			0.56			0.57			0.59			0.62
Net charge-offs as a percentage of average loans and leases	0.37			0.42			0.42			0.37			0.28
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.03			1.04			1.04			1.06			1.06
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	2.43x			2.05x			2.03x			2.00x			1.90x
Average Balances
Total assets	$	221,018		$	219,961		$	220,165		$	222,065		$	223,399
Total securities (4)	45,410			44,607			44,881			47,152			48,510
Loans and leases	144,327			143,698			144,569			143,689			143,097
Deposits	160,263			161,383			160,118			159,503			160,338
Common shareholders' equity	27,208			26,807			26,962			26,824			26,519
Shareholders' equity	30,302			29,903			30,054			29,916			29,610
Period-End Balances
Total assets	$	221,192		$	220,501		$	219,276		$	222,622		$	221,859
Total securities (4)	45,283			44,877			43,606			47,199			47,006
Loans and leases	145,116			143,896			145,038			145,112			144,711
Deposits	156,968			161,333			160,234			159,915			159,238
Common shareholders' equity	27,254			26,928			26,828			26,999			26,651
Shareholders' equity	30,349			30,025			29,926			30,091			29,743
Capital Ratios - Preliminary
Risk-based:
Common equity Tier 1	10.3		%	10.3		%	10.2		%	10.1		%	10.0		%
Tier 1	12.1			12.0			12.0			11.8			11.7
Total	14.1			14.1			14.1			14.0			13.9
Leverage	10.1			10.0			10.0			9.8			9.6
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 Preliminary 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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Consolidated Statements of Income
BB&T Corporation
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended											Year-to-Date
	June 30						Change					June 30					Change
	2017			2016			$			%		2017		2016			$			%
Interest Income
Interest and fees on loans and leases	$	1,540		$	1,509		$	31		2.1	%	$	3,041	$	2,951		$	90		3.0	%
Interest and dividends on securities	272			286			(14		)	(4.9	)	530		541			(11		)	(2.0	)
Interest on other earning assets	12			10			2			20.0		28		34			(6		)	(17.6	)
Total interest income	1,824			1,805			19			1.1		3,599		3,526			73			2.1
Interest Expense
Interest on deposits	80			64			16			25.0		149		128			21			16.4
Interest on short-term borrowings	5			3			2			66.7		7		5			2			40.0
Interest on long-term debt	104			121			(17		)	(14.0	)	199		247			(48		)	(19.4	)
Total interest expense	189			188			1			0.5		355		380			(25		)	(6.6	)
Net Interest Income	1,635			1,617			18			1.1		3,244		3,146			98			3.1
Provision for credit losses	135			111			24			21.6		283		295			(12		)	(4.1	)
Net Interest Income After Provision for Credit Losses	1,500			1,506			(6		)	(0.4	)	2,961		2,851			110			3.9
Noninterest Income
Insurance income	481			465			16			3.4		939		884			55			6.2
Service charges on deposits	176			166			10			6.0		344		320			24			7.5
Mortgage banking income	94			111			(17		)	(15.3	)	197		202			(5		)	(2.5	)
Investment banking and brokerage fees and commissions	105			102			3			2.9		196		199			(3		)	(1.5	)
Trust and investment advisory revenues	70			67			3			4.5		138		129			9			7.0
Bankcard fees and merchant discounts	75			60			15			25.0		134		116			18			15.5
Checkcard fees	54			50			4			8.0		105		95			10			10.5
Operating lease income	37			35			2			5.7		73		69			4			5.8
Income from bank-owned life insurance	32			31			1			3.2		61		62			(1		)	(1.6	)
FDIC loss share income, net	—			(64		)	64			(100.0	)	—		(124		)	124			(100.0	)
Securities gains (losses), net	—			—			—			—		—		45			(45		)	(100.0	)
Other income	96			107			(11		)	(10.3	)	204		149			55			36.9
Total noninterest income	1,220			1,130			90			8.0		2,391		2,146			245			11.4
Noninterest Expense
Personnel expense	1,042			1,039			3			0.3		2,053		1,954			99			5.1
Occupancy and equipment expense	198			194			4			2.1		391		385			6			1.6
Software expense	57			53			4			7.5		115		104			11			10.6
Outside IT services	39			44			(5		)	(11.4	)	88		85			3			3.5
Amortization of intangibles	36			42			(6		)	(14.3	)	74		74			—			—
Regulatory charges	36			32			4			12.5		75		62			13			21.0
Professional services	38			26			12			46.2		60		48			12			25.0
Loan-related expense	36			36			—			—		66		68			(2		)	(2.9	)
Merger-related and restructuring charges, net	10			92			(82		)	(89.1	)	46		115			(69		)	(60.0	)
Loss (gain) on early extinguishment of debt	—			—			—			—		392		(1		)	393			NM
Other expense	250			239			11			4.6		484		448			36			8.0
Total noninterest expense	1,742			1,797			(55		)	(3.1	)	3,844		3,342			502			15.0
Earnings
Income before income taxes	978			839			139			16.6		1,508		1,655			(147		)	(8.9	)
Provision for income taxes	304			252			52			20.6		408		498			(90		)	(18.1	)
Net income	674			587			87			14.8		1,100		1,157			(57		)	(4.9	)
Noncontrolling interests	(1		)	3			(4		)	(133.3	)	4		9			(5		)	(55.6	)
Preferred stock dividends	44			43			1			2.3		87		80			7			8.8
Net income available to common shareholders	$	631		$	541		$	90		16.6	%	$	1,009	$	1,068		$	(59	)	(5.5	)%
Earnings Per Common Share
Basic	$	0.78		$	0.67		$	0.11		16.4	%	$	1.25	$	1.34		$	(0.09	)	(6.7	)%
Diluted	0.77			0.66			0.11			16.7		1.23		1.32			(0.09		)	(6.8	)
Weighted Average Shares Outstanding
Basic	808,980			814,261			(5,281		)	(0.6	)	809,439		797,727			11,712			1.5
Diluted	819,389			823,682			(4,293		)	(0.5	)	821,072		806,839			14,233			1.8
NM - not meaningful

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Consolidated Statements of Income - Five Quarter Trend
BB&T Corporation
(Dollars in millions, except per share data, shares in thousands)
	Quarter Ended
	June 30			March 31		Dec. 31			Sept. 30			June 30
	2017			2017		2016			2016			2016
Interest Income
Interest and fees on loans and leases	$	1,540		$	1,501	$	1,510		$	1,524		$	1,509
Interest and dividends on securities	272			258		226			262			286
Interest on other earning assets	12			16		9			9			10
Total interest income	1,824			1,775		1,745			1,795			1,805
Interest Expense
Interest on deposits	80			69		61			62			64
Interest on short-term borrowings	5			2		2			2			3
Interest on long-term debt	104			95		117			121			121
Total interest expense	189			166		180			185			188
Net Interest Income	1,635			1,609		1,565			1,610			1,617
Provision for credit losses	135			148		129			148			111
Net Interest Income After Provision for Credit Losses	1,500			1,461		1,436			1,462			1,506
Noninterest Income
Insurance income	481			458		419			410			465
Service charges on deposits	176			168		172			172			166
Mortgage banking income	94			103		107			154			111
Investment banking and brokerage fees and commissions	105			91		108			101			102
Trust and investment advisory revenues	70			68		69			68			67
Bankcard fees and merchant discounts	75			59		60			61			60
Checkcard fees	54			51		50			50			50
Operating lease income	37			36		34			34			35
Income from bank-owned life insurance	32			29		26			35			31
FDIC loss share income, net	—			—		—			(18		)	(64		)
Securities gains (losses), net	—			—		1			—			—
Other income	96			108		116			97			107
Total noninterest income	1,220			1,171		1,162			1,164			1,130
Noninterest Expense
Personnel expense	1,042			1,011		1,004			1,006			1,039
Occupancy and equipment expense	198			193		198			203			194
Software expense	57			58		57			63			53
Outside IT services	39			49		50			51			44
Amortization of intangibles	36			38		38			38			42
Regulatory charges	36			39		42			41			32
Professional services	38			22		27			27			26
Loan-related expense	36			30		(6		)	33			36
Merger-related and restructuring charges, net	10			36		13			43			92
Loss (gain) on early extinguishment of debt	—			392		—			—			—
Other expense	250			234		245			206			239
Total noninterest expense	1,742			2,102		1,668			1,711			1,797
Earnings
Income before income taxes	978			530		930			915			839
Provision for income taxes	304			104		287			273			252
Net income	674			426		643			642			587
Noncontrolling interests	(1		)	5		7			—			3
Preferred stock dividends	44			43		44			43			43
Net income available to common shareholders	$	631		$	378	$	592		$	599		$	541
Earnings Per Common Share
Basic	$	0.78		$	0.47	$	0.73		$	0.74		$	0.67
Diluted	0.77			0.46		0.72			0.73			0.66
Weighted Average Shares Outstanding
Basic	808,980			809,903		810,593			812,521			814,261
Diluted	819,389			822,719		821,971			823,106			823,682

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Segment Financial Performance - Preliminary
BB&T Corporation
(Dollars in millions)
	Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
Community Banking	2017			2017			2016			2016			2016
Net interest income (expense)	$	618		$	587		$	577		$	570		$	532
Net intersegment interest income (expense)	414			413			417			411			401
Segment net interest income	1,032			1,000			994			981			933
Allocated provision for credit losses	63			25			26			(3		)	23
Noninterest income	338			310			315			315			304
Intersegment net referral fees (expenses)	43			40			45			45			43
Noninterest expense	454			432			437			444			432
Amortization of intangibles	17			18			18			19			18
Allocated corporate expenses	343			346			340			340			332
Income (loss) before income taxes	536			529			533			541			475
Provision (benefit) for income taxes	191			189			194			197			173
Segment net income (loss)	$	345		$	340		$	339		$	344		$	302
Identifiable segment assets (period end)	$	74,549		$	73,554		$	73,631		$	73,125		$	67,896

Residential Mortgage Banking
Net interest income (expense)	$	331		$	333		$	347		$	359		$	345
Net intersegment interest income (expense)	(211		)	(213		)	(213		)	(215		)	(214		)
Segment net interest income	120			120			134			144			131
Allocated provision for credit losses	10			5			14			9			12
Noninterest income	72			76			76			116			83
Intersegment net referral fees (expenses)	—			—			—			1			1
Noninterest expense	79			74			40			12			89
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	30			31			29			28			26
Income (loss) before income taxes	73			86			127			212			88
Provision (benefit) for income taxes	27			32			48			80			33
Segment net income (loss)	$	46		$	54		$	79		$	132		$	55
Identifiable segment assets (period end)	$	34,098		$	34,092		$	35,558		$	36,652		$	35,894

Dealer Financial Services
Net interest income (expense)	$	244		$	241		$	246		$	229		$	226
Net intersegment interest income (expense)	(46		)	(45		)	(43		)	(39		)	(39		)
Segment net interest income	198			196			203			190			187
Allocated provision for credit losses	81			95			86			76			58
Noninterest income	—			—			—			1			—
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	43			41			39			39			36
Amortization of intangibles	—			—			—			—			—
Allocated corporate expenses	14			14			12			11			11
Income (loss) before income taxes	60			46			66			65			82
Provision (benefit) for income taxes	22			17			25			25			31
Segment net income (loss)	$	38		$	29		$	41		$	40		$	51
Identifiable segment assets (period end)	$	15,745		$	16,191		$	16,556		$	15,090		$	14,463

Specialized Lending
Net interest income (expense)	$	181		$	175		$	177		$	177		$	172
Net intersegment interest income (expense)	(77		)	(72		)	(70		)	(68		)	(67		)
Segment net interest income	104			103			107			109			105
Allocated provision for credit losses	12			16			13			18			14
Noninterest income	69			70			73			80			70
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	71			69			87			71			68
Amortization of intangibles	1			3			1			1			1
Allocated corporate expenses	20			20			21			20			18
Income (loss) before income taxes	69			65			58			79			74
Provision (benefit) for income taxes	15			14			11			19			17
Segment net income (loss)	$	54		$	51		$	47		$	60		$	57
Identifiable segment assets (period end)	$	18,826		$	17,770		$	17,583		$	17,823		$	17,233
During the second quarter of 2017, a change was made in the method for allocation of capital to the operating segments impacting both the allocated balances and funding credit. Results for prior periods have been revised to reflect the new allocations.

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Segment Financial Performance - Preliminary (continued)
BB&T Corporation
(Dollars in millions)
	Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
Insurance Holdings	2017			2017			2016			2016			2016
Net interest income (expense)	$	1		$	—		$	1		$	1		$	1
Net intersegment interest income (expense)	—			1			(1		)	(1		)	(2		)
Segment net interest income	1			1			—			—			(1		)
Allocated provision for credit losses	—			—			—			—			—
Noninterest income	483			462			428			412			465
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	349			342			331			332			350
Amortization of intangibles	16			16			16			15			18
Allocated corporate expenses	31			31			27			28			28
Income (loss) before income taxes	88			74			54			37			68
Provision (benefit) for income taxes	33			28			22			16			26
Segment net income (loss)	$	55		$	46		$	32		$	21		$	42
Identifiable segment assets (period end)	$	3,596		$	3,377		$	3,463		$	3,342		$	3,590

Financial Services
Net interest income (expense)	$	76		$	65		$	64		$	65		$	68
Net intersegment interest income (expense)	92			91			90			91			84
Segment net interest income	168			156			154			156			152
Allocated provision for credit losses	(17		)	1			(2		)	32			6
Noninterest income	230			216			258			229			212
Intersegment net referral fees (expenses)	9			5			8			6			5
Noninterest expense	195			183			191			191			189
Amortization of intangibles	2			2			2			1			1
Allocated corporate expenses	45			45			39			38			37
Income (loss) before income taxes	182			146			190			129			136
Provision (benefit) for income taxes	67			54			71			48			51
Segment net income (loss)	$	115		$	92		$	119		$	81		$	85
Identifiable segment assets (period end)	$	18,836		$	18,337		$	17,233		$	17,570		$	17,360

Other, Treasury & Corporate (1)(2)
Net interest income (expense)	$	184		$	208		$	153		$	209		$	273
Net intersegment interest income (expense)	(172		)	(175		)	(180		)	(179		)	(163		)
Segment net interest income	12			33			(27		)	30			110
Allocated provision for credit losses	(14		)	6			(8		)	16			(2		)
Noninterest income	28			37			12			11			(4		)
Intersegment net referral fees (expenses)	(52		)	(45		)	(53		)	(52		)	(49		)
Noninterest expense	515			923			505			584			591
Amortization of intangibles	—			(1		)	1			2			4
Allocated corporate expenses	(483		)	(487		)	(468		)	(465		)	(452		)
Income (loss) before income taxes	(30		)	(416		)	(98		)	(148		)	(84		)
Provision (benefit) for income taxes	(51		)	(230		)	(84		)	(112		)	(79		)
Segment net income (loss)	$	21		$	(186	)	$	(14	)	$	(36	)	$	(5	)
Identifiable segment assets (period end)	$	55,542		$	57,180		$	55,252		$	59,020		$	65,423

Total BB&T Corporation
Net interest income (expense)	$	1,635		$	1,609		$	1,565		$	1,610		$	1,617
Net intersegment interest income (expense)	—			—			—			—			—
Segment net interest income	1,635			1,609			1,565			1,610			1,617
Allocated provision for credit losses	135			148			129			148			111
Noninterest income	1,220			1,171			1,162			1,164			1,130
Intersegment net referral fees (expenses)	—			—			—			—			—
Noninterest expense	1,706			2,064			1,630			1,673			1,755
Amortization of intangibles	36			38			38			38			42
Allocated corporate expenses	—			—			—			—			—
Income (loss) before income taxes	978			530			930			915			839
Provision (benefit) for income taxes	304			104			287			273			252
Segment net income (loss)	$	674		$	426		$	643		$	642		$	587
Identifiable segment assets (period end)	$	221,192		$	220,501		$	219,276		$	222,622		$	221,859
During the second quarter of 2017, a change was made in the method for allocation of capital to the operating segments impacting both the allocated balances and funding credit. Results for prior periods have been revised to reflect the new allocations.
(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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Consolidated Ending Balance Sheets - Five Quarter Trend
BB&T Corporation
(Dollars in millions)

	June 30			March 31			Dec. 31			Sept. 30			June 30
	2017			2017			2016			2016			2016
Assets
Cash and due from banks	$	2,201		$	1,739		$	1,897		$	1,850		$	1,958
Interest-bearing deposits with banks	671			2,056			1,895			930			510
Federal funds sold and securities purchased under resale agreements or similar arrangements	137			238			144			192			145
Restricted cash	419			447			488			654			846
Securities available for sale at fair value	26,899			26,668			26,926			29,449			28,244
Securities held to maturity at amortized cost	18,384			18,209			16,680			17,750			18,762
Loans and leases:
Commercial:
Commercial and industrial	52,579			51,607			51,719			51,779			52,103
CRE-income producing properties	14,851			14,781			14,538			14,624			14,872
CRE-construction and development	3,876			3,850			3,819			3,864			3,690
Dealer floor plan	1,522			1,467			1,413			1,288			1,308
Direct retail lending	12,001			11,977			12,092			12,022			12,025
Sales finance	10,090			10,565			11,267			9,964			9,429
Revolving credit	2,630			2,574			2,655			2,561			2,512
Residential mortgage	29,217			29,651			29,921			30,369			30,650
Other lending subsidiaries	16,099			15,273			14,988			14,945			14,528
PCI	780			860			910			1,007			1,109
Total loans and leases held for investment	143,645			142,605			143,322			142,423			142,226
Loans held for sale	1,471			1,291			1,716			2,689			2,485
Total loans and leases	145,116			143,896			145,038			145,112			144,711
Allowance for loan and lease losses	(1,485		)	(1,487		)	(1,489		)	(1,511		)	(1,507		)
Premises and equipment	2,084			2,104			2,107			2,059			2,088
Goodwill	9,618			9,618			9,638			9,627			9,621
Core deposit and other intangible assets	782			818			854			892			946
Mortgage servicing rights at fair value	1,052			1,088			1,052			828			785
Other assets	15,314			15,107			14,046			14,790			14,750
Total assets	$	221,192		$	220,501		$	219,276		$	222,622		$	221,859
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	53,343		$	53,262		$	50,697		$	51,000		$	49,180
Interest checking	27,966			29,472			30,263			27,709			28,528
Money market and savings	61,671			64,860			64,883			64,090			64,064
Time deposits	13,988			13,739			14,391			17,116			17,466
Total deposits	156,968			161,333			160,234			159,915			159,238
Short-term borrowings	6,142			2,019			1,406			4,064			1,472
Long-term debt	21,738			21,635			21,965			22,776			24,435
Accounts payable and other liabilities	5,995			5,489			5,745			5,776			6,971
Total liabilities	190,843			190,476			189,350			192,531			192,116
Shareholders' equity:
Preferred stock	3,053			3,053			3,053			3,053			3,053
Common stock	4,040			4,057			4,047			4,057			4,073
Additional paid-in capital	8,966			9,063			9,104			9,233			9,311
Retained earnings	15,321			14,933			14,809			14,459			14,104
Accumulated other comprehensive loss	(1,073		)	(1,125		)	(1,132		)	(750		)	(837		)
Noncontrolling interests	42			44			45			39			39
Total shareholders' equity	30,349			30,025			29,926			30,091			29,743
Total liabilities and shareholders' equity	$	221,192		$	220,501		$	219,276		$	222,622		$	221,859

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Average Balance Sheets
BB&T Corporation
(Dollars in millions)
	Quarter Ended									Year-to-Date
	June 30				Change					June 30				Change
	2017		2016		$			%		2017		2016		$			%
Assets
Securities at amortized cost (1):
U.S. Treasury	$	4,761	$	2,252	$	2,509		111.4	%	$	4,746	$	2,514	$	2,232		88.8	%
U.S. government-sponsored entities (GSE)	2,386		4,199		(1,813		)	(43.2	)	2,385		4,632		(2,247		)	(48.5	)
Mortgage-backed securities issued by GSE	35,911		38,911		(3,000		)	(7.7	)	35,412		36,343		(931		)	(2.6	)
States and political subdivisions	1,879		2,555		(676		)	(26.5	)	1,985		2,410		(425		)	(17.6	)
Non-agency mortgage-backed	416		526		(110		)	(20.9	)	424		582		(158		)	(27.1	)
Other	57		67		(10		)	(14.9	)	58		64		(6		)	(9.4	)
Total securities	45,410		48,510		(3,100		)	(6.4	)	45,010		46,545		(1,535		)	(3.3	)
Other earning assets	3,649		3,215		434			13.5		3,953		3,310		643			19.4
Loans and leases:
Commercial:
Commercial and industrial	51,900		51,646		254			0.5		51,511		49,830		1,681			3.4
CRE-income producing properties	14,864		14,786		78			0.5		14,734		14,138		596			4.2
CRE-construction and development	3,905		3,669		236			6.4		3,875		3,644		231			6.3
Dealer floor plan	1,490		1,305		185			14.2		1,458		1,272		186			14.6
Direct retail lending	12,000		12,031		(31		)	(0.3	)	12,007		11,569		438			3.8
Sales finance	10,450		9,670		780			8.1		10,672		9,859		813			8.2
Revolving credit	2,612		2,477		135			5.5		2,610		2,470		140			5.7
Residential mortgage	29,392		30,471		(1,079		)	(3.5	)	29,546		30,167		(621		)	(2.1	)
Other lending subsidiaries	15,636		13,961		1,675			12.0		15,279		13,700		1,579			11.5
PCI	825		1,130		(305		)	(27.0	)	854		1,114		(260		)	(23.3	)
Total loans and leases held for investment	143,074		141,146		1,928			1.4		142,546		137,763		4,783			3.5
Loans held for sale	1,253		1,951		(698		)	(35.8	)	1,468		1,599		(131		)	(8.2	)
Total loans and leases	144,327		143,097		1,230			0.9		144,014		139,362		4,652			3.3
Total earning assets	193,386		194,822		(1,436		)	(0.7	)	192,977		189,217		3,760			2.0
Nonearning assets	27,632		28,577		(945		)	(3.3	)	27,516		27,534		(18		)	(0.1	)
Total assets	$	221,018	$	223,399	$	(2,381	)	(1.1	)%	$	220,493	$	216,751	$	3,742		1.7	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	52,573	$	48,801	$	3,772		7.7	%	$	51,838	$	47,502	$	4,336		9.1	%
Interest checking	28,849		28,376		473			1.7		29,211		26,990		2,221			8.2
Money market and savings	64,294		63,195		1,099			1.7		64,574		61,809		2,765			4.5
Time deposits	14,088		18,101		(4,013		)	(22.2	)	14,504		17,493		(2,989		)	(17.1	)
Foreign office deposits - interest-bearing	459		1,865		(1,406		)	(75.4	)	693		1,308		(615		)	(47.0	)
Total deposits	160,263		160,338		(75		)	—		160,820		155,102		5,718			3.7
Short-term borrowings	2,748		2,951		(203		)	(6.9	)	2,428		2,861		(433		)	(15.1	)
Long-term debt	21,767		23,272		(1,505		)	(6.5	)	21,264		23,090		(1,826		)	(7.9	)
Accounts payable and other liabilities	5,938		7,228		(1,290		)	(17.8	)	5,877		6,980		(1,103		)	(15.8	)
Total liabilities	190,716		193,789		(3,073		)	(1.6	)	190,389		188,033		2,356			1.3
Shareholders' equity	30,302		29,610		692			2.3		30,104		28,718		1,386			4.8
Total liabilities and shareholders' equity	$	221,018	$	223,399	$	(2,381	)	(1.1	)%	$	220,493	$	216,751	$	3,742		1.7	%
Average balances exclude basis adjustments for fair value hedges.
(1) Excludes trading securities.

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Average Balance Sheets - Five Quarter Trend
BB&T Corporation
(Dollars in millions)
	Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2017		2017		2016		2016		2016
Assets
Securities at amortized cost (1):
U.S. Treasury	$	4,761	$	4,730	$	3,744	$	3,460	$	2,252
U.S. government-sponsored entities (GSE)	2,386		2,386		2,378		2,786		4,199
Mortgage-backed securities issued by GSE	35,911		34,909		35,954		37,987		38,911
States and political subdivisions	1,879		2,091		2,269		2,356		2,555
Non-agency mortgage-backed	416		432		474		502		526
Other	57		59		62		61		67
Total securities	45,410		44,607		44,881		47,152		48,510
Other earning assets	3,649		4,259		3,124		3,068		3,215
Loans and leases:
Commercial:
Commercial and industrial	51,900		51,119		51,306		51,508		51,646
CRE-income producing properties	14,864		14,602		14,566		14,667		14,786
CRE-construction and development	3,905		3,844		3,874		3,802		3,669
Dealer floor plan	1,490		1,427		1,367		1,268		1,305
Direct retail lending	12,000		12,014		12,046		11,994		12,031
Sales finance	10,450		10,896		10,599		9,339		9,670
Revolving credit	2,612		2,607		2,608		2,537		2,477
Residential mortgage	29,392		29,701		30,044		30,357		30,471
Other lending subsidiaries	15,636		14,919		14,955		14,742		13,961
PCI	825		883		974		1,052		1,130
Total loans and leases held for investment	143,074		142,012		142,339		141,266		141,146
Loans held for sale	1,253		1,686		2,230		2,423		1,951
Total loans and leases	144,327		143,698		144,569		143,689		143,097
Total earning assets	193,386		192,564		192,574		193,909		194,822
Nonearning assets	27,632		27,397		27,591		28,156		28,577
Total assets	$	221,018	$	219,961	$	220,165	$	222,065	$	223,399
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	52,573	$	51,095	$	51,421	$	50,559	$	48,801
Interest checking	28,849		29,578		28,634		27,754		28,376
Money market and savings	64,294		64,857		63,884		64,335		63,195
Time deposits	14,088		14,924		15,693		15,818		18,101
Foreign office deposits - interest-bearing	459		929		486		1,037		1,865
Total deposits	160,263		161,383		160,118		159,503		160,338
Short-term borrowings	2,748		2,105		2,373		2,128		2,951
Long-term debt	21,767		20,757		21,563		23,428		23,272
Accounts payable and other liabilities	5,938		5,813		6,057		7,090		7,228
Total liabilities	190,716		190,058		190,111		192,149		193,789
Shareholders' equity	30,302		29,903		30,054		29,916		29,610
Total liabilities and shareholders' equity	$	221,018	$	219,961	$	220,165	$	222,065	$	223,399
Average balances exclude basis adjustments for fair value hedges.
(1) Excludes trading securities.

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Average Balances and Rates - Quarters
BB&T Corporation
(Dollars in millions)
	Quarter Ended
	June 30, 2017						March 31, 2017
	(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	$	4,761	$	21	1.73	%	$	4,730	$	20	1.72	%
U.S. government-sponsored entities (GSE)	2,386		14		2.22		2,386		13		2.22
Mortgage-backed securities issued by GSE	35,911		198		2.21		34,909		189		2.16
States and political subdivisions	1,879		25		5.29		2,091		27		5.13
Non-agency mortgage-backed	416		25		24.16		432		20		18.85
Other	57		—		2.22		59		—		1.89
Total securities	45,410		283		2.49		44,607		269		2.42
Other earning assets	3,649		11		1.36		4,259		16		1.49
Loans and leases:
Commercial:
Commercial and industrial	51,900		456		3.52		51,119		433		3.43
CRE-income producing properties	14,864		143		3.86		14,602		133		3.71
CRE-construction and development	3,905		37		3.81		3,844		35		3.69
Dealer floor plan	1,490		10		2.55		1,427		8		2.32
Direct retail lending	12,000		135		4.55		12,014		129		4.33
Sales finance	10,450		83		3.19		10,896		86		3.19
Revolving credit	2,612		57		8.78		2,607		57		8.79
Residential mortgage	29,392		295		4.01		29,701		297		4.01
Other lending subsidiaries	15,636		306		7.84		14,919		294		7.99
PCI	825		37		17.94		883		43		19.72
Total loans and leases held for investment	143,074		1,559		4.37		142,012		1,515		4.31
Loans held for sale	1,253		11		3.65		1,686		15		3.49
Total loans and leases	144,327		1,570		4.36		143,698		1,530		4.30
Total earning assets	193,386		1,864		3.87		192,564		1,815		3.80
Nonearning assets	27,632						27,397
Total assets	$	221,018					$	219,961
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	28,849	15		0.22		$	29,578	13		0.18
Money market and savings	64,294		47		0.29		64,857		37		0.23
Time deposits	14,088		17		0.48		14,924		17		0.48
Foreign office deposits - interest-bearing	459		1		1.03		929		2		0.67
Total interest-bearing deposits	107,690		80		0.30		110,288		69		0.26
Short-term borrowings	2,748		5		0.70		2,105		2		0.43
Long-term debt	21,767		104		1.91		20,757		95		1.83
Total interest-bearing liabilities	132,205		189		0.57		133,150		166		0.50
Noninterest-bearing deposits	52,573						51,095
Accounts payable and other liabilities	5,938						5,813
Shareholders' equity	30,302						29,903
Total liabilities and shareholders' equity	$	221,018					$	219,961
Average interest-rate spread					3.30						3.30

Net interest income/ net interest margin			$	1,675	3.47	%			$	1,649	3.46	%
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 utilizing the marginal income tax rates for the periods presented.
(3) Excludes trading securities.

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Average Balances and Rates - Quarters
BB&T Corporation
(Dollars in millions)
	Quarter Ended
	December 31, 2016							September 30, 2016						June 30, 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	$	3,744	$	15		1.62	%	$	3,460	$	14	1.63	%	$	2,252	$	10	1.76	%
U.S. government-sponsored entities (GSE)	2,378		13			2.23		2,786		16		2.18		4,199		21		2.06
Mortgage-backed securities issued by GSE	35,954		185			2.06		37,987		195		2.05		38,911		203		2.09
States and political subdivisions	2,269		29			5.01		2,356		30		5.16		2,555		34		5.24
Non-agency mortgage-backed	474		(3		)	(3.06	)	502		19		14.81		526		31		23.81
Other	62		(1		)	2.31		61		—		1.67		67		1		1.91
Total securities	44,881		238			2.13		47,152		274		2.32		48,510		300		2.47
Other earning assets	3,124		10			1.21		3,068		9		1.17		3,215		9		1.22
Loans and leases:
Commercial:
Commercial and industrial	51,306		426			3.30		51,508		436		3.37		51,646		433		3.37
CRE-income producing properties	14,566		132			3.60		14,667		138		3.75		14,786		139		3.79
CRE-construction and development	3,874		35			3.61		3,802		36		3.74		3,669		34		3.74
Dealer floor plan	1,367		7			2.16		1,268		7		2.09		1,305		7		2.04
Direct retail lending	12,046		128			4.22		11,994		130		4.30		12,031		127		4.33
Sales finance	10,599		90			3.36		9,339		71		3.04		9,670		74		3.05
Revolving credit	2,608		57			8.71		2,537		56		8.80		2,477		54		8.73
Residential mortgage	30,044		299			3.97		30,357		308		4.06		30,471		312		4.09
Other lending subsidiaries	14,955		297			7.92		14,742		298		8.05		13,961		292		8.39
PCI	974		49			20.07		1,052		52		19.68		1,130		48		16.91
Total loans and leases held for investment	142,339		1,520			4.25		141,266		1,532		4.32		141,146		1,520		4.32
Loans held for sale	2,230		18			3.12		2,423		20		3.25		1,951		16		3.43
Total loans and leases	144,569		1,538			4.24		143,689		1,552		4.30		143,097		1,536		4.31
Total earning assets	192,574		1,786			3.70		193,909		1,835		3.77		194,822		1,845		3.80
Nonearning assets	27,591							28,156						28,577
Total assets	$	220,165						$	222,065					$	223,399
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	28,634	10			0.14		$	27,754	10		0.15		$	28,376	11		0.15
Money market and savings	63,884		31			0.20		64,335		31		0.19		63,195		29		0.19
Time deposits	15,693		19			0.48		15,818		20		0.50		18,101		23		0.51
Foreign office deposits - interest-bearing	486		1			0.38		1,037		1		0.38		1,865		1		0.38
Total interest-bearing deposits	108,697		61			0.22		108,944		62		0.23		111,537		64		0.23
Short-term borrowings	2,373		2			0.34		2,128		2		0.34		2,951		3		0.34
Long-term debt	21,563		117			2.16		23,428		121		2.05		23,272		121		2.10
Total interest-bearing liabilities	132,633		180			0.54		134,500		185		0.55		137,760		188		0.55
Noninterest-bearing deposits	51,421							50,559						48,801
Accounts payable and other liabilities	6,057							7,090						7,228
Shareholders' equity	30,054							29,916						29,610
Total liabilities and shareholders' equity	$	220,165						$	222,065					$	223,399
Average interest-rate spread						3.16						3.22						3.25

Net interest income/ net interest margin			$	1,606		3.32	%			$	1,650	3.39	%			$	1,657	3.41	%
Taxable-equivalent adjustment			$	41						$	40					$	40
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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Average Balances and Rates - Year-To-Date
BB&T Corporation
(Dollars in millions)
	Year-to-Date
	June 30, 2017						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	$	4,746	$	41	1.72	%	$	2,514	$	22	1.73	%
U.S. government-sponsored entities (GSE)	2,385		27		2.22		4,632		48		2.09
Mortgage-backed securities issued by GSE	35,412		387		2.19		36,343		370		2.04
States and political subdivisions	1,985		52		5.20		2,410		64		5.30
Non-agency mortgage-backed	424		45		21.45		582		62		21.62
Other	58		—		2.05		64		1		1.75
Total securities	45,010		552		2.45		46,545		567		2.44
Other earning assets	3,953		27		1.43		3,310		34		2.07
Loans and leases:
Commercial:
Commercial and industrial	51,511		889		3.48		49,830		825		3.33
CRE-income producing properties	14,734		276		3.78		14,138		266		3.78
CRE-construction and development	3,875		72		3.75		3,644		68		3.75
Dealer floor plan	1,458		18		2.44		1,272		13		2.03
Direct retail lending	12,007		264		4.44		11,569		245		4.29
Sales finance	10,672		169		3.19		9,859		149		3.03
Revolving credit	2,610		114		8.79		2,470		108		8.78
Residential mortgage	29,546		592		4.01		30,167		617		4.09
Other lending subsidiaries	15,279		600		7.91		13,700		578		8.47
PCI	854		80		18.86		1,114		107		19.27
Total loans and leases held for investment	142,546		3,074		4.34		137,763		2,976		4.34
Loans held for sale	1,468		26		3.56		1,599		28		3.56
Total loans and leases	144,014		3,100		4.33		139,362		3,004		4.33
Total earning assets	192,977		3,679		3.84		189,217		3,605		3.82
Nonearning assets	27,516						27,534
Total assets	$	220,493					$	216,751
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	29,211	28		0.20		$	26,990	19		0.14
Money market and savings	64,574		84		0.26		61,809		61		0.20
Time deposits	14,504		34		0.48		17,493		46		0.53
Foreign office deposits - interest-bearing	693		3		0.79		1,308		2		0.37
Total interest-bearing deposits	108,982		149		0.28		107,600		128		0.24
Short-term borrowings	2,428		7		0.58		2,861		5		0.35
Long-term debt	21,264		199		1.87		23,090		247		2.15
Total interest-bearing liabilities	132,674		355		0.54		133,551		380		0.57
Noninterest-bearing deposits	51,838						47,502
Accounts payable and other liabilities	5,877						6,980
Shareholders' equity	30,104						28,718
Total liabilities and shareholders' equity	$	220,493					$	216,751
Average interest-rate spread					3.30						3.25

Net interest income/ net interest margin			$	3,324	3.47	%			$	3,225	3.42	%
Taxable-equivalent adjustment			$	80					$	79
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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Credit Quality
BB&T Corporation
(Dollars in millions)
	As of
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2017		2017		2016		2016		2016
Nonperforming Assets (1)
Nonaccrual loans and leases:
Commercial:
Commercial and industrial	$	295	$	344	$	363	$	413	$	452
CRE-income producing properties	35		43		40		38		36
CRE-construction and development	15		17		17		12		14
Dealer floor plan	—		7		—		—		—
Direct retail lending	65		66		63		55		52
Sales finance	5		6		6		6		5
Residential mortgage-nonguaranteed	125		167		172		167		171
Residential mortgage-government guaranteed	6		5		—		—		1
Other lending subsidiaries	66		68		75		66		62
Total nonaccrual loans and leases held for investment (1)(2)	612		723		736		757		793
Foreclosed real estate	48		49		50		58		70
Other foreclosed property	30		29		27		28		23
Total nonperforming assets (1)(2)	$	690	$	801	$	813	$	843	$	886
Performing Troubled Debt Restructurings (TDRs) (3)
Commercial:
Commercial and industrial	$	48	$	48	$	55	$	46	$	39
CRE-income producing properties	15		14		16		14		16
CRE-construction and development	9		11		9		8		10
Direct retail lending	63		65		67		69		69
Sales finance	14		15		16		16		16
Revolving credit	29		29		29		30		31
Residential mortgage-nonguaranteed	199		327		332		287		276
Residential mortgage-government guaranteed	386		412		420		393		348
Other lending subsidiaries	232		232		226		209		198
Total performing TDRs (3)(4)	$	995	$	1,153	$	1,170	$	1,072	$	1,003
Loans 90 Days or More Past Due and Still Accruing
Direct retail lending	$	7	$	7	$	6	$	7	$	5
Sales finance	4		5		6		4		4
Revolving credit	10		10		12		9		8
Residential mortgage-nonguaranteed	51		64		79		66		56
Residential mortgage-government guaranteed (5)	350		374		443		414		415
PCI	71		82		90		92		122
Total loans 90 days past due and still accruing (5)	$	493	$	542	$	636	$	592	$	610
Loans 30-89 Days Past Due
Commercial:
Commercial and industrial	$	18	$	22	$	27	$	34	$	20
CRE-income producing properties	1		11		6		3		8
CRE-construction and development	2		1		2		2		2
Direct retail lending	54		55		60		62		53
Sales finance	57		51		76		60		61
Revolving credit	20		20		23		20		19
Residential mortgage-nonguaranteed	265		272		393		354		361
Residential mortgage-government guaranteed (6)	128		129		132		112		81
Other lending subsidiaries	300		215		322		288		261
PCI	29		29		36		45		48
Total loans 30-89 days past due (6)	$	874	$	805	$	1,077	$	980	$	914
Excludes loans held for sale.
(1) PCI loans are accounted for using the accretion method.
(2) Sales of nonperforming loans totaled $75 million, $74 million, $130 million, $63 million and $64 million for the quarter ended June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016, respectively.
(3) Excludes TDRs that are nonperforming totaling $211 million, $214 million, $183 million, $134 million and $146 million at June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 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) Sales of performing TDRs, which were primarily residential mortgage loans, totaled $203 million, $48 million, $36 million, $30 million and $23 million for the quarter ended June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016, respectively.
(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 $32 million, $29 million, $48 million, $46 million and $49 million at June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 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, $2 million, $3 million, $2 million and $2 million at June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016, respectively.

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Credit Quality
BB&T Corporation
(Dollars in millions)
	As of/For the Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
	2017			2017			2016			2016			2016
Allowance for Credit Losses
Beginning balance	$	1,599		$	1,599		$	1,621		$	1,603		$	1,580
Provision for credit losses (excluding PCI loans)	151			146			133			150			109
Provision (benefit) for PCI loans	(16		)	2			(4		)	(2		)	2
Charge-offs:
Commercial:
Commercial and industrial	(21		)	(29		)	(23		)	(23		)	(26		)
CRE-income producing properties	(3		)	(1		)	(1		)	(5		)	—
CRE-construction and development	—			—			—			(1		)	—
Dealer floor plan	(1		)	—			—			—			—
Direct retail lending	(16		)	(14		)	(16		)	(12		)	(12		)
Sales finance	(6		)	(9		)	(8		)	(7		)	(6		)
Revolving credit	(19		)	(21		)	(16		)	(18		)	(16		)
Residential mortgage-nonguaranteed	(19		)	(11		)	(9		)	(11		)	(8		)
Residential mortgage-government guaranteed	(1		)	(1		)	(1		)	(2		)	(1		)
Other lending subsidiaries	(87		)	(103		)	(102		)	(91		)	(73		)
PCI	—			—			(15		)	—			—
Total charge-offs	(173		)	(189		)	(191		)	(170		)	(142		)
Recoveries:
Commercial:
Commercial and industrial	8			6			10			6			12
CRE-income producing properties	—			4			1			3			1
CRE-construction and development	3			2			2			3			5
Direct retail lending	7			6			6			7			6
Sales finance	3			4			3			3			3
Revolving credit	5			5			5			5			5
Residential mortgage-nonguaranteed	1			—			—			1			1
Other lending subsidiaries	14			14			13			12			12
Total recoveries	41			41			40			40			45
Net charge-offs	(132		)	(148		)	(151		)	(130		)	(97		)
Other	—			—			—			—			9
Ending balance	$	1,602		$	1,599		$	1,599		$	1,621		$	1,603
Allowance for Credit Losses
Allowance for loan and lease losses (excluding PCI loans)	$	1,455		$	1,441		$	1,445		$	1,448		$	1,442
Allowance for PCI loans	30			46			44			63			65
Reserve for unfunded lending commitments	117			112			110			110			96
Total	$	1,602		$	1,599		$	1,599		$	1,621		$	1,603

										As of/For the
										Six Months Ended
										June 30
										2017			2016
Allowance for Credit Losses
Beginning balance										$	1,599		$	1,550
Provision for credit losses (excluding PCI loans)										297			291
Provision (benefit) for PCI loans										(14		)	4
Charge-offs:
Commercial:
Commercial and industrial										(50		)	(82		)
CRE-income producing properties										(4		)	(2		)
CRE-construction and development										—			—
Dealer floor plan										(1		)	—
Direct retail lending										(30		)	(25		)
Sales finance										(15		)	(14		)
Revolving credit										(40		)	(35		)
Residential mortgage-nonguaranteed										(30		)	(15		)
Residential mortgage-government guaranteed										(2		)	(2		)
Other lending subsidiaries										(190		)	(165		)
PCI										—			—
Total charge-offs										(362		)	(340		)
Recoveries:
Commercial:
Commercial and industrial										14			24
CRE-income producing properties										4			4
CRE-construction and development										5			6
Direct retail lending										13			13
Sales finance										7			6
Revolving credit										10			10
Residential mortgage-nonguaranteed										1			2
Other lending subsidiaries										28			24
Total recoveries										82			89
Net charge-offs										(280		)	(251		)
Other										—			9
Ending balance										$	1,602		$	1,603

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Credit Quality
BB&T Corporation
	As of/For the Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2017		2017		2016		2016		2016
Asset Quality Ratios
Loans 30-89 days past due and still accruing as a percentage of loans and leases	0.61	%	0.56	%	0.75	%	0.69	%	0.64	%
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.34		0.38		0.44		0.42		0.43
Nonperforming loans and leases as a percentage of loans and leases	0.43		0.51		0.51		0.53		0.56
Nonperforming assets as a percentage of:
Total assets	0.31		0.36		0.37		0.38		0.40
Loans and leases plus foreclosed property	0.48		0.56		0.57		0.59		0.62
Net charge-offs as a percentage of average loans and leases	0.37		0.42		0.42		0.37		0.28
Allowance for loan and lease losses as a percentage of loans and leases	1.03		1.04		1.04		1.06		1.06
Ratio of allowance for loan and lease losses to:
Net charge-offs	2.80X		2.49X		2.47X		2.91X		3.88X
Nonperforming loans and leases	2.43X		2.05X		2.03X		2.00X		1.90X
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	0.05	%	0.06	%	0.07	%	0.06	%	0.05	%

							As of/For the
							Year Ended
							June 30
							2017		2016
Asset Quality Ratios
Net charge-offs as a percentage of average loans and leases							0.40	%	0.37	%
Ratio of allowance for loan and lease losses to net charge-offs							2.63 X		2.99 X
Applicable ratios are annualized. Loans and leases exclude loans held for sale.

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Credit Quality
BB&T Corporation
(Dollars in millions)
	As of June 30, 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	15		100.0		—			—		—			—		15
CRE-construction and development	9		100.0		—			—		—			—		9
Direct retail lending	62		98.4		1			1.6		—			—		63
Sales finance	13		92.9		1			7.1		—			—		14
Revolving credit	25		86.2		3			10.3		1			3.5		29
Residential mortgage—nonguaranteed	171		85.9		25			12.6		3			1.5		199
Residential mortgage—government guaranteed	168		43.5		67			17.4		151			39.1		386
Other lending subsidiaries	191		82.3		41			17.7		—			—		232
Total performing TDRs (1)	702		70.6		138			13.9		155			15.5		995
Nonperforming TDRs (2)	132		62.5		17			8.1		62			29.4		211
Total TDRs (1)(2)	$	834	69.1	%	$	155		12.9	%	$	217		18.0	%	$	1,206

					Quarter Ended
					June 30			March 31		Dec. 31			Sept. 30		June 30
					2017			2017		2016			2016		2016
Net Charge-offs as a Percentage of Average Loans and Leases:
Commercial:
Commercial and industrial					0.11		%	0.18	%	0.10		%	0.13	%	0.11		%
CRE-income producing properties					0.08			(0.07	)	—			0.06		(0.02		)
CRE-construction and development					(0.36		)	(0.18	)	(0.16		)	(0.26	)	(0.48		)
Direct retail lending					0.27			0.27		0.34			0.17		0.17
Sales finance					0.12			0.19		0.20			0.18		0.13
Revolving credit					2.06			2.50		1.80			1.97		1.86
Residential mortgage					0.28			0.15		0.13			0.16		0.11
Other lending subsidiaries					1.88			2.41		2.35			2.15		1.74
PCI					—			—		5.83			—		0.04
Total loans and leases					0.37			0.42		0.42			0.37		0.28
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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Preliminary Capital Information - Five Quarter Trend
BB&T Corporation
(Dollars in millions, except per share data, shares in thousands)
	As of / Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
	2017			2017			2016			2016			2016
Selected Capital Information
Risk-based capital:
Common equity tier 1	$	18,370		$	18,063		$	18,050		$	17,824		$	17,568
Tier 1	21,421			21,115			21,102			20,876			20,620
Total	25,042			24,726			24,872			24,793			24,525
Risk-weighted assets	177,571			175,684			176,138			176,739			176,021
Average quarterly tangible assets	212,394			211,495			211,512			212,816			214,235
Risk-based capital ratios:
Common equity tier 1	10.3		%	10.3		%	10.2		%	10.1		%	10.0		%
Tier 1	12.1			12.0			12.0			11.8			11.7
Total	14.1			14.1			14.1			14.0			13.9
Leverage capital ratio	10.1			10.0			10.0			9.8			9.6
Equity as a percentage of total assets	13.7			13.6			13.6			13.5			13.4
Common equity per common share	$	33.73		$	33.19		$	33.14		$	33.27		$	32.72

Calculations of Tangible Common Equity and Related Measures: (1)
Total shareholders' equity	$	30,349		$	30,025		$	29,926		$	30,091		$	29,743
Less:
Preferred stock	3,053			3,053			3,053			3,053			3,053
Noncontrolling interests	42			44			45			39			39
Intangible assets	10,400			10,436			10,492			10,519			10,567
Tangible common equity	$	16,854		$	16,492		$	16,336		$	16,480		$	16,084

Outstanding shares at end of period (in thousands)	808,093			811,370			809,475			811,424			814,500

Tangible Common Equity Per Common Share	$	20.86		$	20.33		$	20.18		$	20.31		$	19.75
(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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Selected Items, Selected Mortgage Banking Information & Additional Information
BB&T Corporation
(Dollars in millions, except per share data)
										Favorable (Unfavorable)
													After-Tax at
Selected Items										Pre-Tax			Marginal Rate
Second Quarter 2017
None										N/A			N/A

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
	June 30			March 31			Dec. 31			Sept. 30			June 30
Selected Mortgage Banking Information	2017			2017			2016			2016			2016
Mortgage Banking Income
Residential mortgage production revenue	$	39		$	36		$	41		$	50		$	41
Residential mortgage servicing revenue	65			68			66			68			68
Realization of expected residential MSR cash flows	(36		)	(34		)	(33		)	(35		)	(35		)
Commercial mortgage production revenue	23			21			28			37			23
Commercial mortgage servicing revenue	10			10			9			10			9
Realization of expected commercial MSR cash flows	(8		)	(6		)	(7		)	(9		)	(5		)
Mortgage banking income before MSR valuation	93			95			104			121			101
Income statement impact of mortgage servicing rights valuation:
MSRs fair value increase (decrease)	(22		)	28			204			30			(76		)
MSRs hedge gains (losses)	23			(20		)	(201		)	3			86
Net MSRs valuation	1			8			3			33			10
Total mortgage banking income	$	94		$	103		$	107		$	154		$	111
Other Mortgage Banking Information
Residential mortgage loan originations	$	3,524		$	3,993		$	5,198		$	6,264		$	5,605
Residential mortgage servicing portfolio (1):
Loans serviced for others	90,106			90,855			90,325			90,157			89,970
Bank-owned loans serviced	30,067			30,396			31,314			32,303			32,647
Total servicing portfolio	120,173			121,251			121,639			122,460			122,617
Weighted-average coupon rate on mortgage loans serviced for others	4.00		%	4.01		%	4.03		%	4.06		%	4.09		%
Weighted-average servicing fee on mortgage loans serviced for others	0.279			0.280			0.281			0.282			0.284

	As of / Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
Additional Information	2017			2017			2016			2016			2016
Derivatives notional amount	$	78,909		$	76,208		$	75,251		$	74,548		$	79,068
Fair value of derivatives, net	(187		)	(230		)	(181		)	80			180

Common stock prices:
High	46.50			49.88			47.85			38.81			37.02
Low	41.17			42.73			37.40			33.72			32.22
End of period	45.41			44.70			47.02			37.72			35.61

Banking offices	2,188			2,193			2,196			2,220			2,249
ATMs	2,950			3,117			3,126			3,183			3,321
FTEs	37,374			37,383			37,480			37,662			37,644
(1) Amounts reported are unpaid principal balance.

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Non-GAAP Reconciliations
BB&T Corporation
(Dollars in millions)
	Quarter Ended															Year-to-Date
	June 30			March 31			Dec. 31			Sept. 30			June 30			June 30			June 30
Efficiency Ratio (1)	2017			2017			2016			2016			2016			2017			2016
Efficiency Ratio Numerator - Noninterest Expense - GAAP	$	1,742		$	2,102		$	1,668		$	1,711		$	1,797		$	3,844		$	3,342
Amortization of intangibles	(36		)	(38		)	(38		)	(38		)	(42		)	(74		)	(74		)
Merger-related and restructuring charges, net	(10		)	(36		)	(13		)	(43		)	(92		)	(46		)	(115		)
Gain (loss) on early extinguishment of debt	—			(392		)	—			—			—			(392		)	1
Mortgage reserve adjustments	—			—			31			—			—			—			—
Charitable contribution	—			—			—			(50		)	—			—			—
Settlement of FHA-insured loan matters and related recovery	—			—			—			73			—			—			—
Efficiency Ratio Numerator - Adjusted	$	1,696		$	1,636		$	1,648		$	1,653		$	1,663		$	3,332		$	3,154

Efficiency Ratio Denominator - Revenue (2) - GAAP	$	2,855		$	2,780		$	2,727		$	2,774		$	2,747		$	5,635		$	5,292
Taxable equivalent adjustment	40			40			41			40			40			80			79
Securities (gains) losses, net	—			—			(1		)	—			—			—			(45		)
Efficiency Ratio Denominator - Adjusted	$	2,895		$	2,820		$	2,767		$	2,814		$	2,787		$	5,715		$	5,326

Efficiency Ratio - GAAP	61.0		%	75.6		%	61.1		%	61.7		%	65.4		%	68.2		%	63.2		%
Efficiency Ratio - Adjusted	58.6			58.0			59.5			58.7			59.6			58.3			59.2
(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															Year-to-Date
	June 30			March 31			Dec. 31			Sept. 30			June 30			June 30
Return on Average Tangible Common Shareholders' Equity (1)	2017			2017			2016			2016			2016			2017			2016
Net income available to common shareholders	$	631		$	378		$	592		$	599		$	541		$	1,009		$	1,068
Plus: Amortization of intangibles, net of tax	22			24			24			24			26			46			46
Tangible net income available to common shareholders	$	653		$	402		$	616		$	623		$	567		$	1,055		$	1,114

Average common shareholders' equity	$	27,208		$	26,807		$	26,962		$	26,824		$	26,519		$	27,008		$	25,798
Less: Average intangible assets	10,418			10,464			10,508			10,545			10,574			10,440			9,900
Average tangible common shareholders' equity	$	16,790		$	16,343		$	16,454		$	16,279		$	15,945		$	16,568		$	15,898
Return on average tangible common shareholders' equity	15.60		%	9.98		%	14.91		%	15.20		%	14.33		%	12.85		%	14.10		%
(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 - July 19, 2017

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