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Barclays Global Financial Services Conference
Kelly S. King, Chief Executive Officer
September 12, 2017
Forward-Looking Information
This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future
performance of BB&T. Forward-looking statements are not based on historical facts but instead represent management's expectations and assumptions regarding BB&T's business, the economy and other future
conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances difficult to predict. BB&T's actual results may differ materially from those
contemplated by the forward-looking statements. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," "could," and other similar expressions are
intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. While there is no assurance any list of risks and
uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation, as well as the risks and
uncertainties more fully discussed under Item 1A-Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2016 and in any of BB&T’s subsequent filings with the Securities and Exchange
Commission:
• general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for credit,
insurance or other services;
• disruptions to the national or global financial markets, including the impact of a downgrade of U.S. government obligations by one of the credit ratings agencies, the economic instability and recessionary conditions in
Europe, the potential exit of the United Kingdom from the European Union and the economic slowdown in China;
• changes in the interest rate environment, including interest rate changes made by the Federal Reserve, as well as cash flow reassessments may reduce net interest margin and/or the volumes and values of loans
made or held as well as the value of other financial assets held;
• competitive pressures among depository and other financial institutions may increase significantly;
• legislative, regulatory or accounting changes, including changes resulting from the adoption and implementation of the Dodd-Frank Act may adversely affect the businesses in which BB&T is engaged;
• local, state or federal taxing authorities may take tax positions that are adverse to BB&T;
• a reduction may occur in BB&T's credit ratings;
• adverse changes may occur in the securities markets;
• competitors of BB&T may have greater financial resources or develop products that enable them to compete more successfully than BB&T and may be subject to different regulatory standards than BB&T;
• cybersecurity risks, including "denial of service," "hacking" and "identity theft," could adversely affect BB&T's business and financial performance or reputation, and BB&T could be liable for financial losses incurred by
third parties due to breaches of data shared between financial institutions;
• natural or other disasters, including acts of terrorism, could have an adverse effect on BB&T, materially disrupting BB&T's operations or the ability or willingness of customers to access BB&T's products and services;
• costs related to the integration of the businesses of BB&T and its merger partners may be greater than expected;
• failure to execute on strategic or operational plans, including the ability to successfully complete and/or integrate mergers and acquisitions or fully achieve expected cost savings or revenue growth associated with
mergers and acquisitions within the expected time frames could adversely impact financial condition and results of operations;
• significant litigation and regulatory proceedings could have a material adverse effect on BB&T;
• unfavorable resolution of legal proceedings or other claims and regulatory and other governmental investigations or other inquiries could result in negative publicity, protests, fines, penalties, restrictions on BB&T's
operations or ability to expand its business and other negative consequences, all of which could cause reputational damage and adversely impact BB&T's financial conditions and results of operations;
• risks resulting from the extensive use of models;
• risk management measures may not be fully effective;
• deposit attrition, customer loss and/or revenue loss following completed mergers/acquisitions may exceed expectations;
• higher-than-expected costs related to information technology infrastructure or a failure to successfully implement future system enhancements could adversely impact BB&T's financial condition and results of
operations and could result in significant additional costs to BB&T; and
• widespread system outages, caused by the failure of critical internal systems or critical services provided by third parties, could adversely impact BB&T's financial condition and results of operations.
Non-GAAP Information
This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). BB&T's
management uses these "non-GAAP" measures in their analysis of the Corporation's performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of
ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. The company believes a meaningful analysis of its financial performance requires
an understanding of the factors underlying that performance. BB&T's management believes investors may find these non-GAAP financial measures useful. These disclosures should not be viewed as a substitute for financial
measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures
used in this presentation:
• Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets and their related amortization. These measures are useful for evaluating the performance of a
business consistently, whether acquired or developed internally. BB&T's management uses these measures to assess the quality of capital and returns relative to balance sheet risk and believes investors may find them
useful in their analysis of the Corporation.
• The adjusted efficiency ratios are non-GAAP in that they exclude securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. BB&T's management
uses these measures in their analysis of the Corporation's performance. BB&T's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with
prior periods, as well as demonstrates the effects of significant gains and charges.
• Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of interest income and estimated funding costs associated with loans and securities acquired in the Colonial
acquisition and PCI loans acquired from Susquehanna and National Penn. Core net interest margin is also adjusted to remove the purchase accounting marks and related amortization for non-PCI loans, deposits and
long-term debt acquired from Susquehanna and National Penn. BB&T's management believes the adjustments to the calculation of net interest margin for certain assets and deposits acquired provide investors with
useful information related to the performance of BB&T's earning assets.
A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included in the attached Appendix and BB&T's Second Quarter 2017 Quarterly Performance Summary, which is available at BBT.com.
3
To make the world a better place to live by:
Helping our CLIENTS achieve economic success and
financial security;
Creating a place where our ASSOCIATES can learn,
grow and be fulfilled in their work;
Making the COMMUNITIES in which we work better
places to be; and thereby:
Optimizing the long‐term return to our
SHAREHOLDERS, while providing a safe and sound
investment.
Our Mission
3
Agenda
Diversification drives revenue and productivity
Above average risk-adjusted returns
▪ Long-term performance advantages
▪ Reconceptualizing our business
▪ Enhancing our digital platform
▪ Committed to the Perfect Client Experience
▪ Making the world a better place to live
4
State # of Branches
Deposits1
($bn)
Deposit
Rank1
North Carolina2 351 $28.7
Virginia 344 22.6
Florida 318 17.5
Pennsylvania 259 14.8
Georgia 155 12.4
Maryland 165 10.1
South Carolina 110 7.9
Kentucky 108 6.3
Texas 122 5.8
West Virginia 73 5.0
Alabama 84 4.0
New Jersey 33 2.5
Tennessee 48 2.4
District of Columbia 13 1.2
Ohio 3 NM
Indiana 2 NM
Total # of
Branches3 2,188
BB&T Corporation: A Growing Franchise
8th Largest U.S. Financial Institution1
2
4
7
4
5
6
3
2
15
1
5
15
7
9
NM
NM
NJ
(15)
NC
(2)
SC
(3)
MD
(6)
D.C.
(9)
GA
(5)
FL
(7)
IN
(NM)
OH
(NM)
PA
(4)
TN
(7)
KY
(2)
WV
(1)
VA
(4)
AL
(5)
TX
(15)
1 Deposit market share data as of 12/31/2016
2 Excludes home office deposits
3 As of 06/30/2017
Source: FactSet, FDIC, SNL DataSource
5
Community
Banking 49%
Residential
Mortgage
Banking 7%
Dealer
Financial
Services 7%
Specialized
Lending 6%
Financial
Services
14%
Insurance
Holdings
17%
Revenue Diversification by Segment1
PPNR 10-year average
2007-20162
2.0%
1.7% 1.6%
Superior Performance…
Diversification Drives Revenue and Productivity
PPNR 10-year standard deviation
2007-20162
0.3%
0.4%
0.6%
…With Less Volatility3
BB&T National
Peers
Largest 4
Banks
Largest 4
Banks
National
Peers
BB&T
1 Based on segment revenues, excluding other, treasury and corporate for quarter ending 06/30/2017
2 Data per S&P Global as of 12/31/2016
3 Volatility measured as standard deviation of PPNR/Average Asset ratios
National peer group: CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Largest 4 BHCs: BAC, C, JPM, WFC 6
Premier Model for Community Banking…
26
Banking Regions
Local
decision-making
Centralized
support system
Foundation
for our relationship
management
culture model
… and Diverse Non-Bank Businesses
7
Better Profitability with Less Risk
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source Morgan Stanley Research and SNL Financial; data as of 06/30/2017
BB&T operates with a combination of strong profitability levels and asset quality
– Risk vs. return positioning is best in the group
Problem Loans / Gross Loans (%)
N
e
t
I
n
c
o
m
e
/
T
a
n
g
i
b
l
e
A
s
s
e
t
s
(
%
)
• Stronger profitability
• Stronger credit quality
• Weaker profitability
• Stronger credit quality
• Stronger profitability
• Weaker credit quality
• Weaker profitability
• Weaker credit quality
Median = 1.1%
Median = 1.5%
BBT
Peer 6
Peer 3
Peer 4
Peer 11
Peer 7
Peer 9
Peer 1
Peer 12
Peer 2
Peer 10Peer 5
Peer 8
0.8
0.9
1.0
1.1
1.2
1.3
1.4
0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8
8
Long-term Performance Advantage
3.52%
3.58%
3.66%
4.03% 4.06%
3.91%
3.68%
3.42%
3.32%
3.39%
3.47%
3.55%
3.37%
3.28%
3.54%
3.49%
3.43%
3.28%
3.09%
2.95% 2.98%
3.10%
2.50%
3.00%
3.50%
4.00%
4.50%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1H17
BBT Peers
Net Interest Margin
Reflects fully taxable-equivalent
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source: S&P Global
9
Long-term Performance Advantage
51.6%
50.9%
50.4%
53.9%
55.2%
54.3%
58.5%
57.7%
58.9% 59.2%
58.3%
56.4%
60.2%
59.0%
61.1%
62.8% 62.9% 62.8% 63.1% 62.5%
61.6%
60.5%
45.0%
50.0%
55.0%
60.0%
65.0%
70.0%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1H17
BBT Peers
Efficiency Ratio
Beginning in 2016, the calculation of the adjusted efficiency ratio was revised to no longer adjust
for foreclosed property expense or the impact of FDIC loss share
See non-GAAP reconciliations included in the attached Appendix
Reflects
investments in
new systems
and technology
10
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source: S&P Global and company reports
27.14%
20.21%
8.10% 8.74%
12.60%18.19%
-1.05%
-10.81%
4.04%
9.82%
17.39%
13.61%
14.79%
13.34%
14.59%
12.85%
12.68%
11.62% 11.53%
11.07% 10.97%
12.37%
8.00%
11.00%
14.00%
17.00%
20.00%
-15.00%
-5.00%
5.00%
15.00%
25.00%
35.00%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1H17
BBT Peers
Long-term Performance Advantage
1 Excludes $246 million in after-tax loss on early extinguishment of debt
See non-GAAP reconciliations included in the attached Appendix 11
Return on Tangible Common Equity
15.61%1
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source: S&P Global and company reports
Among Leaders in Key Performance Measures – 2Q17
1 Total loans includes owned real estate and foreclosed property
2 Reflects fully taxable-equivalent
As of quarter ended 06/30/2017
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
ROTCE excludes PNC
Source: SNL Financial and company reports
B
B
T
P
e
e
r
1
P
e
e
r
2
P
e
e
r
3
P
e
e
r
4
P
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r
5
P
e
e
r
6
P
e
e
r
7
P
e
e
r
8
P
e
e
r
9
P
e
e
r
1
0
P
e
e
r
1
1
P
e
e
r
1
2
NPAs / Total Loans1
P
e
e
r
1
B
B
T
P
e
e
r
2
P
e
e
r
3
P
e
e
r
4
P
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e
r
5
P
e
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r
6
P
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r
7
P
e
e
r
8
P
e
e
r
9
P
e
e
r
1
0
P
e
e
r
1
1
P
e
e
r
1
2
Net Interest Margin2
P
e
e
r
1
P
e
e
r
2
B
B
T
P
e
e
r
3
P
e
e
r
4
P
e
e
r
5
P
e
e
r
6
P
e
e
r
7
P
e
e
r
8
P
e
e
r
9
P
e
e
r
1
0
P
e
e
r
1
1
P
e
e
r
1
2
Adjusted Efficiency Ratio
P
e
e
r
1
B
B
T
P
e
e
r
2
P
e
e
r
3
P
e
e
r
4
P
e
e
r
5
P
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e
r
6
P
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r
7
P
e
e
r
8
P
e
e
r
9
P
e
e
r
1
0
P
e
e
r
1
1
Return on Tangible Common Equity
12
Among Leaders in Dividend Yield and Payout
3.15%
3.06% 3.00%
2.71%
2.60% 2.55%
2.47%
2.40%
2.29%
2.19%
2.08%
1.85%
1.15%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
Peer 1 Peer 2 BBT Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12
Dividend Yield
As of 09/08/2017 stock price and 3Q17 dividend annualized
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source: S&P Global
13
Significantly Improved Deposit Mix
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source: SNL Financial; data as of 06/30/2017
▪ Continued focus on DDA growth has moved BB&T up to peer average levels
▪ BB&T’s total cost of deposits benefits from this trend
10%
20%
30%
40%
50%
60%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1H17
BBT Peer High Peer Avg Peer Low
Noninterest-bearing Deposit Mix
Regional Banks Noninterest-Bearing Deposit Mix
Bank
2007 1H17 Change
NIB Mix % NIB Mix % Non-Int Bearing Mix %
BBT 16% 32% 16%
Peer High 27% 53% 26%
Peer Avg 22% 33% 12%
Peer Low 14% 25% 1%
14
Deposit Betas Remain Well-Controlled
Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION
Source: SNL Financial; data as of 06/30/2017
▪ BB&T’s beta is lower and more stable over the Fed rate-hike cycle
▪ BB&T has experienced modest rate increases in the corporate deposits segment
0
20
40
60
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17
BBT Peer High Peer Avg Peer Low
Interest-bearing Deposit Costs (bps)
Regional Banks Interest-Bearing Deposit Costs and Betas
Bank
3Q15 2Q17 Cumulative Beta
IBD Cost (bps) IBD Cost (bps) +1.00% FF Move
BBT 24 30 6
Peer High 34 49 18
Peer Avg 21 31 11
Peer Low 11 15 1
15
99%
100%
101%
102%
103%
3
/
2
9
4
/
5
4
/
1
2
4
/
1
9
4
/
2
6
5
/
3
5
/
1
0
5
/
1
7
5
/
2
4
5
/
3
1
6
/
7
6
/
1
4
6
/
2
1
6
/
2
8
7
/
5
7
/
1
2
7
/
1
9
7
/
2
6
8
/
2
8
/
9
8
/
1
6
8
/
2
3
2Q17 3Q17 to-date
2Q17 and 3Q17 Loan Growth Trends
▪ Total loan and lease growth, measured using
Fed H.8 data, shows 3Q17 Large
Commercial Bank balances down slightly
through late August
▪ BB&T’s total loan and lease growth impacted
by optimizing portfolios (prime auto and
residential mortgage loans)
– Strong growth in 2Q17 carried into July before
slowing in August
▪ Commercial 3Q17 growth slightly ahead of
Large Commercial Bank aggregate
▪ Loan growth strategies
– Growing more profitable loans with better risk
profile
– Continue to price prime auto loans at a level
which improves profitability and returns
– Continue to sell all conforming residential
mortgages while serving our clients
Prime auto and residential mortgage loans
expected to stabilize in 2018
H.8 Growth Report as of 08/23/2017
(03/29/2017 = 100)
16
Based on Fed H.8 data
H.8 reporting only includes bank loans booked in domestic offices; for BB&T, excludes Regional Acceptance and CAFO
Total Loans and Leases (Incl. HFS)
BB&T
BB&T excl. optimizing portfolios
Large commercial banks (Top 25 by Assets)
99%
100%
101%
102%
103%
3
/
2
9
4
/
5
4
/
1
2
4
/
1
9
4
/
2
6
5
/
3
5
/
1
0
5
/
1
7
5
/
2
4
5
/
3
1
6
/
7
6
/
1
4
6
/
2
1
6
/
2
8
7
/
5
7
/
1
2
7
/
1
9
7
/
2
6
8
/
2
8
/
9
8
/
1
6
8
/
2
3
3Q17 to-date2Q17
Total Commercial
3Q17 Outlook
1 Taxable-equivalent
2 Excludes merger-related and restructuring charges
Category Guidance
Loans
Total slightly down vs. 2Q17
Core up 2% – 4% annualized vs. 2Q17
Credit quality
NCOs expected to be 35 – 45 bps
NPAs expected to be in a similar range vs. 2Q17
Net interest margin
GAAP margin stable vs. 2Q17
Core margin stable compared with 2Q17
Net interest income1 Stable compared with 2Q17
Noninterest income Slightly down vs. 3Q16
Expenses2 Up 0% – 2% vs. 3Q16
17
Reconceptualizing Our Business
▪ 5 focus areas for 2017
– Accelerate loan growth in the Community Bank as Main Street improves; improve efficiency of
branch network
• Expect to close approximately 140 branches in 2017
– Accelerate Corporate Banking loan growth
– Accelerate growth in our Wealth business
– Optimize consumer portfolios
• Continue to price prime auto loans at a level which improves profitability and returns
• Continue to sell all conforming residential mortgages while serving our clients
– Accelerate digital transformation
• Continue to enhance the U platform
• Increase branding and digital marketing
• Redeploy cost savings to digital transformation
• Incorporate artificial intelligence and robotics into internal processes
▪ BB&T Leadership Institute
– State-of-the-art facility that will provide excellent opportunities to help our clients achieve financial
success, train our associates and improve our communities by developing leaders in education
18
2017 Digital Focus
19
FinTech Incubation & Acceleration
Spring 2017
- 12 startups
- 31 BB&T advisors
Fall 2017
- 5 startups
- 3 BB&T advisors
Collaborative
effort between
local business
and banks
APIs
Chatbots Digital
Signature
Digital Factory
New Technologies & Emerging Business Models
Innovative Digital
Platforms
RPA
Payments Innovation
Awards & Accolades
BB&T is one of the top five in the 2017 S&P
Global Market Intelligence mobile bank app
ranking
-
BB&T ranked third overall among the 15 largest
U.S. regional and national banks for mobile
banking according to the Dynatrace Mobile
Banker Scorecard for Q1 2017
- Dynatrace
BB&T launches new brand campaign
Brand campaign scheduled to launch September 18th
Incorporates significant research with clients and prospects, consumer and business
Captures their feedback, reflects BB&T’s culture
Airing in key markets throughout footprint
Training and related efforts to support campaign are under way
New tagline. . . . . . . . . . . . . . . . . . . .
20
BB&T has been ranked
the top American bank,
in The Barron’s 500, at
No. 103
BB&T has been named
one of the 2017 Best
Banks in America by
Forbes
Industry Leading Recognition
BB&T was named on
the FORTUNE “World’s
Most Admired
Companies®” list in the
superregional bank
category in 2017
BB&T received 14
Greenwich Excellence
Awards in Small Business
and Middle Market Banking
from Greenwich Associates
for our overall satisfaction
and outstanding client
service in 2016. Greenwich
Associates provides global
market intelligence and
advisory services to the
financial services industry.
BB&T was recognized as a
2016 Javelin Mobile
Banking Leader in the
Functionality category
among the nation’s top 30
financial institutions by
Javelin Strategy &
Research.
BB&T achieved the highest
possible score of 100 on the
Human Rights Campaign
Foundation’s Corporate
Equality Index.
This score reflects BB&T’s
adherence to policies and
practices that increase
inclusion for lesbian, gay,
bisexual and transgender
employees.
22
Corporate Social Responsibility
Committed To Our Communities – Lighthouse Project
The BB&T Lighthouse Project provides associates with an opportunity to make a difference in
their communities through company supported and funded service projects.
The purpose of the Lighthouse Project is to be involved in positive change. It’s about seeing a
need and then working with a local nonprofit to address the need. It’s about living out our mission
to make the communities we serve a better place to live and work.
Since we began the BB&T Lighthouse Project in 2009, we have completed more than 10,000
community service projects, provided more than 550,000 volunteer hours, and helped change the
lives of more than 15 million people!
24
The BB&T Leadership Institute
The BB&T Leadership Institute provides organizations with a leadership development partner that helps create
dynamic and effective leaders, increase employee retention and improve the bottom line. Beginning with each
client's specific goals and challenges, the institute’s consultants identify the best approaches to address a company's
needs and tailor offerings to individual executives, teams or both.
Visit us online at www.bbtleadershipinstitute.com or email leadershipinstitute@bbandt.com 25
Services include
– Leadership development
– Talent services
– Engagement
– Team optimization
– Change management
All we see is you
Appendix
Non-GAAP reconciliations
Period Ended
Efficiency Ratio 1H17 2016 2015 2014
Efficiency ratio – GAAP 68.2 % 62.3 % 64.2 % 62.4 %
Effect of taxable-equivalent adjustment (0.9) (0.9) - -
Effect of securities gains (losses), net - 0.3 - -
Effect of merger-related and restructuring charges, net (0.8) (1.6) (1.7) (0.5)
Effect of mortgage loan indemnification reserves - - - (0.4)
Effect of loss on sale of American Coastal - - (0.2) -
Effect of mortgage reserve adjustments - 0.3 - (0.3)
Effect of loss on early extinguishment of debt (7.0) - (1.8) (1.3)
Effect of franchise tax adj - - - 0.2
Effect of FDIC loss share accounting - - - (0.2)
Effect of foreclosed property expense - - (0.5) (0.4)
Effect of FHA-insured mortgage loan reserve adj (1.2) 0.7 - (0.9)
Effect of amortization of intangibles - (1.4) (1.1) (0.9)
Effect of charitable contribution - (0.5) - -
Efficiency ratio – reported 58.3 % 59.2 % 58.9 % 57.7 %
BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability
of results with prior periods, as well as demonstrating the effects of significant gains and charges.
A-1
Non-GAAP reconciliations
Period Ended
Efficiency Ratio 2013 2012 2011 2010
Efficiency ratio – GAAP 60.2 % 59.3 % 66.2 % 60.2 %
Effect of securities gains (losses), net 0.3 (0.1) 0.4 3.3
Effect of merger-related and restructuring charges, net (0.5) (0.7) (0.2) (0.7)
Effect of contingency reserve - - - 0.2
Effect of gain on sale of subsidiary 0.2 - - -
Effect of mortgage repurchase expense adj - (0.1) - -
Effect of losses/write-downs on NPL disposition loans - - (1.0) (0.5)
Effect of Colonial premises and equipment adj - - - 0.1
Effect of FDIC loss share accounting - 0.1 0.3 0.7
Effect of affordable housing investments write-down - (0.2) - -
Effect of foreclosed property expense (0.6) (2.7) (9.1) (8.1)
Effect of leveraged lease sale/write-downs - (0.2) (0.2) -
Effect of VISA indemnification - - (0.1) -
Effect of owned real estate adjustments (0.1) - - -
Effect of amortization of intangibles (1.0) (1.1) (1.1) (1.3)
Efficiency ratio – reported 58.5 % 54.3 % 55.2 % 53.9 %
A-2
BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability
of results with prior periods, as well as demonstrating the effects of significant gains and charges.
Non-GAAP reconciliations
Period Ended
Efficiency Ratio 2009 2008 2007
Efficiency ratio – GAAP 55.4 % 52.0 % 53.7 %
Effect of securities gains (losses), net 1.2 0.7 -
Effect of merger-related and restructuring charges, net (0.4) (0.2) (0.3)
Effect of contingency reserve (0.3) - -
Effect of FDIC special assessment (0.8) - -
Effect of gain on extinguishment of debt 0.5 0.5 -
Effect of leveraged lease settlement - (0.4) -
Effect of payroll services gain 0.2 - -
Effect of bank-owned life insurance valuation - (0.1) -
Effect of Visa ownership gains - 0.6 -
Effect of fair value accounting implementation - 0.1 -
Effect of foreclosed property expense (4.1) (1.0) -
Effect of amortization of intangibles (1.3) (1.3) (1.5)
Effect of other, net - - (0.3)
Efficiency ratio – reported 50.4 % 50.9 % 51.6 %
A-3
BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability
of results with prior periods, as well as demonstrating the effects of significant gains and charges.
Non-GAAP reconciliations
Return on Tangible Common Equity 1H17 2016 2015 2014 2013 2012
Return on Common Equity 7.53 % 8.57 % 8.34 % 9.40 % 8.06 % 10.35 %
Effect of intangible assets and their amortization 5.32 6.02 5.00 5.39 5.55 7.04
Effect of loss on early extinguishment of debt 2.76 - - - - -
Return on Tangible Common Equity 15.61 % 14.59 % 13.34 % 14.79 % 13.61 % 17.39 %
Period Ended
A-4
BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability
of results with prior periods, as well as demonstrating the effects of significant gains and charges.
Information is based on originally reported amounts and does not reflect the subsequent adoption of accounting principles
Non-GAAP reconciliations
Return on Tangible Common Equity 2011 2010 2009 2008 2007
Return on Common Equity 7.49 % 4.85 % 4.93 % 11.44 % 14.25 %
Effect of intangible assets and their amortization 5.11 3.89 3.17 8.77 12.89
Return on Tangible Common Equity 12.60 % 8.74 % 8.10 % 20.21 % 27.14 %
Period Ended
A-5
BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability
of results with prior periods, as well as demonstrating the effects of significant gains and charges.
Information is based on originally reported amounts and does not reflect the subsequent adoption of accounting principles