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

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EX-99.3 - EX-99.3 - TRUIST FINANCIAL CORP	d658845dex993.htm
EX-99.1 - EX-99.1 - TRUIST FINANCIAL CORP	d658845dex991.htm
8-K - FORM 8-K - TRUIST FINANCIAL CORP	d658845d8k.htm

Exhibit 99.2

LOGO

BB&T Corporation

Quarterly Performance Summary

Fourth Quarter 2013

BB&T Corporation

Quarterly Performance Summary

Table of Contents


			Page

Financial Highlights			1
Financial Highlights - Five Quarter Trend			2
Consolidated Statements of Income			3
Consolidated Statements of Income - Five Quarter Trend			4
Lines of Business Financial Performance			5
Lines of Business Financial Performance - Five Quarter Trend			7
Consolidated Balance Sheets			9
Consolidated Balance Sheets - Five Quarter Trend			10
Average Balance Sheets			11
Average Balance Sheets - Five Quarter Trend			12
Average Balances and Rates - Quarters			13
Average Balances and Rates - Year-To-Date			15
Credit Quality			16
Credit Quality - Supplemental Information			19
Preliminary Capital Information - Five Quarter Trend			20
Selected Items & Additional Information			21
Non-GAAP Reconciliations			22


BB&T Corporation

Financial Highlights

(Dollars in millions, except per share data, shares in thousands)


	Quarter Ended December 31						%			Year-to-Date December 31						%
	2013			2012			Change			2013			2012			Change
Summary Income Statement
Interest income	$	1,601		$	1,763			(9.2	)%	$	6,654		$	7,068			(5.9	)%
Interest expense		204			250			(18.4	)		892			1,062			(16.0	)
Net interest income - taxable equivalent		1,397			1,513			(7.7	)		5,762			6,006			(4.1	)
Less: Taxable-equivalent adjustment		35			37			(5.4	)		146			149			(2.0	)
Net interest income		1,362			1,476			(7.7	)		5,616			5,857			(4.1	)
Provision for credit losses		60			252			(76.2	)		592			1,057			(44.0	)
Net interest income after provision for credit losses		1,302			1,224			6.4			5,024			4,800			4.7
Noninterest income		985			1,020			(3.4	)		3,937			3,820			3.1
Noninterest expense		1,456			1,488			(2.2	)		5,837			5,828			0.2
Income before income taxes		831			756			9.9			3,124			2,792			11.9
Provision for income taxes		243			207			17.4			1,395			764			82.6
Net income		588			549			7.1			1,729			2,028			(14.7	)
Noncontrolling interests		14			13			7.7			50			49			2.0
Preferred stock dividends		37			30			23.3			117			63			85.7
Net income available to common shareholders		537			506			6.1			1,562			1,916			(18.5	)
Per Common Share Data
Earnings:
Basic	$	0.76		$	0.72			5.6	%	$	2.22		$	2.74			(19.0	)%
Diluted		0.75			0.71			5.6			2.19			2.70			(18.9	)
Cash dividends declared		0.23			0.20			15.0			0.92			0.80			15.0
Book value		28.52			27.21			4.8			28.52			27.21			4.8
Tangible book value (1)		18.08			16.53			9.4			18.08			16.53			9.4

End of period shares outstanding (in thousands)		706,620			699,728			1.0			706,620			699,728			1.0
Weighted average shares (in thousands):
Basic		705,485			699,586			0.8			703,042			698,739			0.6
Diluted		717,671			710,190			1.1			714,363			708,877			0.8
Performance Ratios
Return on average assets		1.31	%		1.20	%					0.96	%		1.14	%
Return on average risk-weighted assets		1.70			1.61						1.26			1.54
Return on average common shareholders’ equity		10.85			10.51						8.06			10.35
Return on average tangible common shareholders’ equity (2)		17.91			17.80						13.61			17.39
Net interest margin - taxable equivalent		3.56			3.84						3.68			3.91
Fee income ratio (3)		43.5			44.1						43.2			42.5
Efficiency ratio (3)		59.9			55.3						58.5			54.3
Credit Quality (including covered assets)
Nonperforming assets as a percentage of:
Total assets		0.64	%		0.97	%					0.64	%		0.97	%
Loans and leases plus foreclosed property		1.00			1.51						1.00			1.51
Net charge-offs as a percentage of average loans and leases		0.48			1.02						0.67			1.14
Allowance for loan and lease losses as a percentage of loans and leases held for investment		1.49			1.76						1.49			1.76
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment		1.85	X		1.46	X					1.85	X		1.46	X
Average Balances
Total assets	$	178,870		$	182,204			(1.8	)%	$	180,599		$	178,102			1.4	%
Total securities (4)		37,022			36,383			1.8			36,772			36,334			1.2
Loans and leases		117,001			117,103			(0.1	)		117,527			113,733			3.3
Deposits		125,906			131,762			(4.4	)		128,555			127,617			0.7
Common shareholders’ equity		19,657			19,160			2.6			19,397			18,501			4.8
Shareholders’ equity		22,305			21,188			5.3			21,890			19,477			12.4
Period-End Balances
Total assets	$	182,341		$	183,872			(0.8	)%	$	182,341		$	183,872			(0.8	)%
Total securities (4)		40,205			38,731			3.8			40,205			38,731			3.8
Loans and leases		117,139			118,364			(1.0	)		117,139			118,364			(1.0	)
Deposits		127,475			133,075			(4.2	)		127,475			133,075			(4.2	)
Common shareholders’ equity		20,156			19,042			5.9			20,156			19,042			5.9
Shareholders’ equity		22,809			21,223			7.5			22,809			21,223			7.5
Capital Ratios - Preliminary
Risk-based:
Tier 1		11.8	%		10.5	%					11.8	%		10.5	%
Total		14.3			13.4						14.3			13.4
Leverage		9.3			8.2						9.3			8.2
Tangible common equity to tangible assets (1)		7.3			6.6						7.3			6.6
Tier 1 common equity to risk-weighted assets (1)		9.9			9.0						9.9			9.0

Applicable ratios are annualized.

(1)	Tangible book value per common share, tangible common equity to tangible assets and Tier 1 common equity ratios are non-GAAP measures. See the calculations and management’s reasons for using these measures in the Capital Information - Five Quarter Trend section of this supplement.

(2)	Return on average tangible common shareholders’ equity is a non-GAAP measure. See the calculation and management’s reasons for using this measure in the Non-GAAP Reconciliations section of this supplement.

(3)

Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impacts of FDIC loss share accounting, the gain on sale of subsidiary and other selected items as detailed in the Selected Items & Additional Information section of this supplement. See the Non-GAAP Reconciliations section of this supplement for further detail.

(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.


BB&T Corporation

Financial Highlights - Five Quarter Trend

(Dollars in millions, except per share data, shares in thousands)


	Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012
Summary Income Statement
Interest income	$	1,601		$	1,676		$	1,680		$	1,697		$	1,763
Interest expense		204			222			228			238			250
Net interest income - taxable equivalent		1,397			1,454			1,452			1,459			1,513
Less: Taxable-equivalent adjustment		35			37			37			37			37
Net interest income		1,362			1,417			1,415			1,422			1,476
Provision for credit losses		60			92			168			272			252
Net interest income after provision for credit losses		1,302			1,325			1,247			1,150			1,224
Noninterest income		985			905			1,046			1,001			1,020
Noninterest expense		1,456			1,471			1,496			1,414			1,488
Income before income taxes		831			759			797			737			756
Provision for income taxes		243			450			221			481			207
Net income		588			309			576			256			549
Noncontrolling interests		14			4			16			16			13
Preferred stock dividends		37			37			13			30			30
Net income available to common shareholders		537			268			547			210			506
Per Common Share Data
Earnings:
Basic	$	0.76		$	0.38		$	0.78		$	0.30		$	0.72
Diluted		0.75			0.37			0.77			0.29			0.71
Cash dividends declared		0.23			0.23			0.23			0.23			0.20
Book value		28.52			27.59			27.51			27.15			27.21
Tangible book value (1)		18.08			17.06			16.92			16.50			16.53

End of period shares outstanding (in thousands)		706,620			704,925			702,995			701,440			699,728
Weighted average shares (in thousands):
Basic		705,485			704,134			702,082			700,275			699,586
Diluted		717,671			716,101			712,861			711,020			710,190
Performance Ratios
Return on average assets		1.31	%		0.68	%		1.27	%		0.57	%		1.20	%
Return on average risk-weighted assets		1.70			0.89			1.68			0.76			1.61
Return on average common shareholders’ equity		10.85			5.44			11.39			4.44			10.51
Return on average tangible common shareholders’ equity (2)		17.91			9.33			19.12			7.87			17.80
Net interest margin - taxable equivalent		3.56			3.68			3.70			3.76			3.84
Fee income ratio (3)		43.5			41.6			44.6			42.9			44.1
Efficiency ratio (3)		59.9			60.1			57.6			56.4			55.3
Credit Quality (including covered assets)
Nonperforming assets as a percentage of:
Total assets		0.64	%		0.72	%		0.80	%		0.91	%		0.97	%
Loans and leases plus foreclosed property		1.00			1.10			1.23			1.39			1.51
Net charge-offs as a percentage of average loans and leases		0.48			0.48			0.74			1.00			1.02
Allowance for loan and lease losses as a percentage of loans and leases held for investment		1.49			1.59			1.64			1.73			1.76
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment		1.85	X		1.78	X		1.66	X		1.54	X		1.46	X
Average Balances
Total assets	$	178,870		$	180,363		$	181,834		$	181,358		$	182,204
Total securities (4)		37,022			36,547			36,719			36,801			36,383
Loans and leases		117,001			118,265			117,852			116,981			117,103
Deposits		125,906			127,948			129,983			130,437			131,762
Common shareholders’ equity		19,657			19,491			19,293			19,138			19,160
Total shareholders’ equity		22,305			22,139			21,789			21,315			21,188
Period-End Balances
Total assets	$	182,341		$	181,050		$	182,735		$	180,837		$	183,872
Total securities (4)		40,205			36,394			38,228			37,289			38,731
Loans and leases		117,139			118,582			118,282			117,628			118,364
Deposits		127,475			127,484			131,079			131,352			133,075
Common shareholders’ equity		20,156			19,446			19,337			19,048			19,042
Shareholders’ equity		22,809			22,094			21,996			21,229			21,223
Capital Ratios - Preliminary
Risk-based:
Tier 1		11.8	%		11.3	%		11.1	%		10.6	%		10.5	%
Total		14.3			13.9			13.9			13.5			13.4
Leverage		9.3			9.0			8.8			8.3			8.2
Tangible common equity to tangible assets (1)		7.3			6.9			6.8			6.7			6.6
Tier 1 common equity to risk-weighted assets (1)		9.9			9.4			9.3			9.1			9.0

Applicable ratios are annualized.

(1)	Tangible book value per common share, tangible common equity to tangible assets and Tier 1 common equity ratios are non-GAAP measures. See the calculations and management’s reasons for using these measures in the Capital Information - Five Quarter Trend section of this supplement.

(2)	Return on average tangible common shareholders’ equity is a non-GAAP measure. See the calculation and management’s reasons for using this measure in the Non-GAAP Reconciliations section of this supplement.

(3)

(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.


BB&T Corporation

Consolidated Statements of Income

(Dollars in millions, except per share data, shares in thousands)


	Quarter Ended Dec. 31						Change						Year-to-Date Dec. 31						Change
	2013			2012			$			%			2013			2012			$			%
Interest Income
Interest and fees on loans and leases	$	1,341		$	1,494		$	(153	)		(10.2	)%	$	5,603		$	5,980		$	(377	)		(6.3	)%
Interest and dividends on securities		220			222			(2	)		(0.9	)		871			907			(36	)		(4.0	)
Interest on other earning assets		5			10			(5	)		(50.0	)		33			30			3			10.0
Total interest income		1,566			1,726			(160	)		(9.3	)		6,507			6,917			(410	)		(5.9	)
Interest Expense
Interest on deposits		65			96			(31	)		(32.3	)		301			429			(128	)		(29.8	)
Interest on short-term borrowings		1			2			(1	)		(50.0	)		6			7			(1	)		(14.3	)
Interest on long-term debt		138			152			(14	)		(9.2	)		584			624			(40	)		(6.4	)
Total interest expense		204			250			(46	)		(18.4	)		891			1,060			(169	)		(15.9	)
Net interest income		1,362			1,476			(114	)		(7.7	)		5,616			5,857			(241	)		(4.1	)
Provision for credit losses		60			252			(192	)		(76.2	)		592			1,057			(465	)		(44.0	)
Net interest income after provision for credit losses		1,302			1,224			78			6.4			5,024			4,800			224			4.7
Noninterest income
Insurance income		371			362			9			2.5			1,517			1,359			158			11.6
Mortgage banking income		100			231			(131	)		(56.7	)		565			840			(275	)		(32.7	)
Service charges on deposits		151			149			2			1.3			584			566			18			3.2
Investment banking and brokerage fees and commissions		101			98			3			3.1			383			365			18			4.9
Bankcard fees and merchant discounts		65			61			4			6.6			256			236			20			8.5
Checkcard fees		50			49			1			2.0			199			185			14			7.6
Trust and investment advisory revenues		52			47			5			10.6			200			184			16			8.7
Income from bank-owned life insurance		32			29			3			10.3			113			116			(3	)		(2.6	)
FDIC loss share income, net		(75	)		(97	)		22			(22.7	)		(293	)		(318	)		25			(7.9	)
Securities gains (losses), net		5			—			5			NM			51			(12	)		63			NM
Other income		133			91			42			46.2			362			299			63			21.1
Total noninterest income		985			1,020			(35	)		(3.4	)		3,937			3,820			117			3.1
Noninterest Expense
Personnel expense		827			823			4			0.5			3,293			3,125			168			5.4
Occupancy and equipment expense		174			172			2			1.2			692			650			42			6.5
Loan-related expense		64			73			(9	)		(12.3	)		255			283			(28	)		(9.9	)
Foreclosed property expense		11			48			(37	)		(77.1	)		55			266			(211	)		(79.3	)
Regulatory charges		33			35			(2	)		(5.7	)		143			159			(16	)		(10.1	)
Professional services		46			46			—			—			189			156			33			21.2
Software expense		43			38			5			13.2			158			138			20			14.5
Amortization of intangibles		26			28			(2	)		(7.1	)		106			110			(4	)		(3.6	)
Merger-related and restructuring charges, net		10			11			(1	)		(9.1	)		46			68			(22	)		(32.4	)
Other expense		222			214			8			3.7			900			873			27			3.1
Total noninterest expense		1,456			1,488			(32	)		(2.2	)		5,837			5,828			9			0.2
Earnings
Income before income taxes		831			756			75			9.9			3,124			2,792			332			11.9
Provision for income taxes		243			207			36			17.4			1,395			764			631			82.6
Net Income		588			549			39			7.1			1,729			2,028			(299	)		(14.7	)
Noncontrolling interests		14			13			1			7.7			50			49			1			2.0
Preferred stock dividends		37			30			7			23.3			117			63			54			85.7
Net income available to common shareholders	$	537		$	506		$	31			6.1	%	$	1,562		$	1,916		$	(354	)		(18.5	)%

Earnings Per Common Share
Basic	$	0.76		$	0.72		$	0.04			5.6	%	$	2.22		$	2.74		$	(0.52	)		(19.0	)%
Diluted		0.75			0.71			0.04			5.6			2.19			2.70			(0.51	)		(18.9	)

Weighted Average Shares Outstanding
Basic		705,485			699,586			5,899			0.8			703,042			698,739			4,303			0.6
Diluted		717,671			710,190			7,481			1.1			714,363			708,877			5,486			0.8

NM - not meaningful.


BB&T Corporation

Consolidated Statements of Income - Five Quarter Trend

(Dollars in millions, except per share data, shares in thousands)


	Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012
Interest Income
Interest and fees on loans and leases	$	1,341		$	1,411		$	1,418		$	1,433		$	1,494
Interest and dividends on securities		220			221			215			215			222
Interest on other earning assets		5			7			10			11			10
Total interest income		1,566			1,639			1,643			1,659			1,726
Interest Expense
Interest on deposits		65			72			78			86			96
Interest on short-term borrowings		1			1			3			1			2
Interest on long-term debt		138			149			147			150			152
Total interest expense		204			222			228			237			250
Net interest income		1,362			1,417			1,415			1,422			1,476
Provision for credit losses		60			92			168			272			252
Net interest income after provision for credit losses		1,302			1,325			1,247			1,150			1,224
Noninterest income
Insurance income		371			355			426			365			362
Mortgage banking income		100			117			168			180			231
Service charges on deposits		151			152			143			138			149
Investment banking and brokerage fees and commissions		101			89			99			94			98
Bankcard fees and merchant discounts		65			67			65			59			61
Checkcard fees		50			51			51			47			49
Trust and investment advisory revenues		52			51			49			48			47
Income from bank-owned life insurance		32			27			26			28			29
FDIC loss share income, net		(75	)		(74	)		(85	)		(59	)		(97	)
Securities gains (losses), net		5			—			23			23			—
Other income		133			70			81			78			91
Total noninterest income		985			905			1,046			1,001			1,020
Noninterest Expense
Personnel expense		827			805			844			817			823
Occupancy and equipment expense		174			177			170			171			172
Loan-related expense		64			70			63			58			73
Foreclosed property expense		11			14			12			18			48
Regulatory charges		33			40			35			35			35
Professional services		46			60			47			36			46
Software expense		43			39			38			38			38
Amortization of intangibles		26			26			27			27			28
Merger-related and restructuring charges, net		10			4			27			5			11
Other expense		222			236			233			209			214
Total noninterest expense		1,456			1,471			1,496			1,414			1,488
Earnings
Income before income taxes		831			759			797			737			756
Provision for income taxes		243			450			221			481			207
Net Income		588			309			576			256			549
Noncontrolling interests		14			4			16			16			13
Preferred stock dividends		37			37			13			30			30
Net income available to common shareholders	$	537		$	268		$	547		$	210		$	506

Earnings Per Common Share
Basic	$	0.76		$	0.38		$	0.78		$	0.30		$	0.72
Diluted		0.75			0.37			0.77			0.29			0.71

Weighted Average Shares Outstanding
Basic		705,485			704,134			702,082			700,275			699,586
Diluted		717,671			716,101			712,861			711,020			710,190


BB&T Corporation

Lines of Business Financial Performance (1)

Quarter Ended December 31, 2013 and 2012

(Dollars in millions)


	Community Banking							Residential Mortgage Banking									Dealer Financial Services									Specialized Lending
	Dec. 31 2013		Dec. 31 2012		Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change
Net interest income (expense)	$	536	$	536		—	%	$	284		$	299			(5.0	)%	$	209		$	210			(0.5	)%	$	145		$	180			(19.4	)%
Net intersegment interest income (expense)		256		311		(17.7	)		(187	)		(198	)		(5.6	)		(39	)		(44	)		(11.4	)		(30	)		(31	)		(3.2	)
Segment net interest income		792		847		(6.5	)		97			101			(4.0	)		170			166			2.4			115			149			(22.8	)
Allocated provision for loan and lease losses		9		130		(93.1	)		16			56			(71.4	)		58			67			(13.4	)		6			24			(75.0	)
Noninterest income		304		301		1.0			76			207			(63.3	)		—			2			(100.0	)		61			65			(6.2	)
Intersegment net referral fees (expense)		29		49		(40.8	)		(1	)		—			NM			—			—			—			—			—			—
Noninterest expense		411		465		(11.6	)		95			100			(5.0	)		26			27			(3.7	)		55			69			(20.3	)
Amortization of intangibles		8		10		(20.0	)		—			—			—			—			—			—			1			1			—
Allocated corporate expenses		261		257		1.6			18			14			28.6			7			9			(22.2	)		17			21			(19.0	)
Income (loss) before income taxes		436		335		30.1			43			138			(68.8	)		79			65			21.5			97			99			(2.0	)
Provision (benefit) for income taxes		161		123		30.9			16			53			(69.8	)		30			25			20.0			26			26			—
Segment net income (loss)	$	275	$	212		29.7		$	27		$	85			(68.2	)	$	49		$	40			22.5		$	71		$	73			(2.7	)


Identifiable segment assets (period end)	$	63,145	$	62,821		0.5		$	27,664		$	29,503			(6.2	)	$	11,526		$	10,264			12.3		$	17,629		$	18,907			(6.8	)

	Insurance Services							Financial Services									Other, Treasury & Corporate (2)									Total BB&T Corporation
	Dec. 31 2013		Dec. 31 2012		Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change
Net interest income (expense)	$	1	$	1		—	%	$	38		$	33			15.2	%	$	149		$	217			(31.3	)%	$	1,362		$	1,476			(7.7	)%
Net intersegment interest income (expense)		1		1		—			70			84			(16.7	)		(71	)		(123	)		(42.3	)		—			—			—
Segment net interest income		2		2		—			108			117			(7.7	)		78			94			(17.0	)		1,362			1,476			(7.7	)
Allocated provision for loan and lease losses		—		—		—			(2	)		(8	)		(75.0	)		(27	)		(17	)		58.8			60			252			(76.2	)
Noninterest income		385		368		4.6			205			193			6.2			(46	)		(116	)		(60.3	)		985			1,020			(3.4	)
Intersegment net referral fees (expense)		—		—		—			9			15			(40.0	)		(37	)		(64	)		(42.2	)		—			—			—
Noninterest expense		269		272		(1.1	)		160			163			(1.8	)		414			364			13.7			1,430			1,460			(2.1	)
Amortization of intangibles		15		16		(6.3	)		1			1			—			1			—			NM			26			28			(7.1	)
Allocated corporate expenses		28		23		21.7			24			23			4.3			(355	)		(347	)		2.3			—			—			—
Income (loss) before income taxes		75		59		27.1			139			146			(4.8	)		(38	)		(86	)		(55.8	)		831			756			9.9
Provision (benefit) for income taxes		26		21		23.8			52			55			(5.5	)		(68	)		(96	)		(29.2	)		243			207			17.4
Segment net income (loss)	$	49	$	38		28.9		$	87		$	91			(4.4	)	$	30		$	10			200.0		$	588		$	549			7.1


Identifiable segment assets (period end)	$	2,990	$	3,297		(9.3	)	$	10,434		$	9,283			12.4		$	48,953		$	49,797			(1.7	)	$	182,341		$	183,872			(0.8	)

(1)	Lines of business results are preliminary.

(2)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

NM	- not meaningful.


BB&T Corporation

Lines of Business Financial Performance (1)

Year-To-Date December 31, 2013 and 2012

(Dollars in millions)


	Community Banking							Residential Mortgage Banking									Dealer Financial Services									Specialized Lending
	Dec. 31 2013		Dec. 31 2012		Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change
Net interest income (expense)	$	2,129	$	2,084		2.2	%	$	1,168		$	1,149			1.7	%	$	834		$	844			(1.2	)%	$	678		$	701			(3.3	)%
Net intersegment interest income (expense)		1,085		1,293		(16.1	)		(747	)		(772	)		(3.2	)		(159	)		(196	)		(18.9	)		(126	)		(139	)		(9.4	)
Segment net interest income		3,214		3,377		(4.8	)		421			377			11.7			675			648			4.2			552			562			(1.8	)
Allocated provision for loan and lease losses		246		665		(63.0	)		34			95			(64.2	)		214			164			30.5			85			135			(37.0	)
Noninterest income		1,202		1,136		5.8			484			754			(35.8	)		4			7			(42.9	)		231			229			0.9
Intersegment net referral fees (expense)		160		178		(10.1	)		(1	)		—			NM			—			—			—			—			—			—
Noninterest expense		1,701		1,827		(6.9	)		344			389			(11.6	)		108			101			6.9			255			259			(1.5	)
Amortization of intangibles		36		37		(2.7	)		—			—			—			—			1			(100.0	)		5			5			—
Allocated corporate expenses		1,040		1,026		1.4			68			55			23.6			29			36			(19.4	)		66			79			(16.5	)
Income (loss) before income taxes		1,553		1,136		36.7			458			592			(22.6	)		328			353			(7.1	)		372			313			18.8
Provision (benefit) for income taxes		571		414		37.9			174			225			(22.7	)		125			135			(7.4	)		97			69			40.6
Segment net income (loss)	$	982	$	722		36.0		$	284		$	367			(22.6	)	$	203		$	218			(6.9	)	$	275		$	244			12.7


Identifiable segment assets (period end)	$	63,145	$	62,821		0.5		$	27,664		$	29,503			(6.2	)	$	11,526		$	10,264			12.3		$	17,629		$	18,907			(6.8	)


	Insurance Services							Financial Services									Other, Treasury & Corporate (2)									Total BB&T Corporation
	Dec. 31 2013		Dec. 31 2012		Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change			Dec. 31 2013			Dec. 31 2012			Percent Change
Net interest income (expense)	$	3	$	3		—	%	$	150		$	123			22.0	%	$	654		$	953			(31.4	)%	$	5,616		$	5,857			(4.1	)%
Net intersegment interest income (expense)		6		4		50.0			297			326			(8.9	)		(356	)		(516	)		(31.0	)		—			—			—
Segment net interest income		9		7		28.6			447			449			(0.4	)		298			437			(31.8	)		5,616			5,857			(4.1	)
Allocated provision for loan and lease losses		—		—		—			19			13			46.2			(6	)		(15	)		(60.0	)		592			1,057			(44.0	)
Noninterest income		1,535		1,365		12.5			743			719			3.3			(262	)		(390	)		(32.8	)		3,937			3,820			3.1
Intersegment net referral fees (expense)		—		—		—			36			39			(7.7	)		(195	)		(217	)		(10.1	)		—			—			—
Noninterest expense		1,135		1,016		11.7			617			643			(4.0	)		1,571			1,483			5.9			5,731			5,718			0.2
Amortization of intangibles		61		61		—			3			3			—			1			3			(66.7	)		106			110			(3.6	)
Allocated corporate expenses		96		82		17.1			99			93			6.5			(1,398	)		(1,371	)		2.0			—			—			—
Income (loss) before income taxes		252		213		18.3			488			455			7.3			(327	)		(270	)		21.1			3,124			2,792			11.9
Provision (benefit) for income taxes		85		70		21.4			183			171			7.0			160			(320	)		(150.0	)		1,395			764			82.6
Segment net income (loss)	$	167	$	143		16.8		$	305		$	284			7.4		$	(487	)	$	50			NM		$	1,729		$	2,028			(14.7	)


Identifiable segment assets (period end)	$	2,990	$	3,297		(9.3	)	$	10,434		$	9,283			12.4		$	48,953		$	49,797			(1.7	)	$	182,341		$	183,872			(0.8	)

(1)	Lines of business results are preliminary.

(2)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

NM	- not meaningful.


BB&T Corporation

Lines of Business Financial Performance - Five Quarter Trend (1)

(Dollars in millions)


	Quarter Ended
Community Banking	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	536		$	537		$	532		$	524		$	536
Net intersegment interest income (expense)		256			262			277			290			311
Segment net interest income		792			799			809			814			847

Allocated provision for loan and lease losses		9			45			110			82			130
Noninterest income		304			315			302			281			301
Intersegment net referral fees (expense)		29			37			45			49			49
Noninterest expense		411			412			448			430			465
Amortization of intangibles		8			9			9			10			10
Allocated corporate expenses		261			259			260			260			257

Income (loss) before income taxes		436			426			329			362			335
Provision (benefit) for income taxes		161			157			120			133			123
Segment net income (loss)	$	275		$	269		$	209		$	229		$	212

Identifiable segment assets (period end)	$	63,145		$	62,904		$	62,998		$	62,397		$	62,821


	Quarter Ended
Residential Mortgage Banking	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	284		$	291		$	294		$	299		$	299
Net intersegment interest income (expense)		(187	)		(184	)		(185	)		(191	)		(198	)
Segment net interest income		97			107			109			108			101

Allocated provision for loan and lease losses		16			(28	)		29			17			56
Noninterest income		76			96			151			161			207
Intersegment net referral fees (expense)		(1	)		1			(1	)		—			—
Noninterest expense		95			90			89			70			100
Amortization of intangibles		—			—			—			—			—
Allocated corporate expenses		18			17			17			16			14

Income (loss) before income taxes		43			125			124			166			138
Provision (benefit) for income taxes		16			48			47			63			53
Segment net income (loss)	$	27		$	77		$	77		$	103		$	85

Identifiable segment assets (period end)	$	27,664		$	28,766		$	28,347		$	28,675		$	29,503


	Quarter Ended
Dealer Financial Services	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	209		$	210		$	210		$	205		$	210
Net intersegment interest income (expense)		(39	)		(40	)		(38	)		(42	)		(44	)
Segment net interest income		170			170			172			163			166

Allocated provision for loan and lease losses		58			47			42			67			67
Noninterest income		—			1			1			2			2
Intersegment net referral fees (expense)		—			—			—			—			—
Noninterest expense		26			28			28			26			27
Amortization of intangibles		—			—			—			—			—
Allocated corporate expenses		7			7			8			7			9

Income (loss) before income taxes		79			89			95			65			65
Provision (benefit) for income taxes		30			34			36			25			25
Segment net income (loss)	$	49		$	55		$	59		$	40		$	40

Identifiable segment assets (period end)	$	11,526		$	11,503		$	11,188		$	10,566		$	10,264


	Quarter Ended
Specialized Lending	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	145		$	181		$	178		$	174		$	180
Net intersegment interest income (expense)		(30	)		(34	)		(31	)		(31	)		(31	)
Segment net interest income		115			147			147			143			149

Allocated provision for loan and lease losses		6			1			27			51			24
Noninterest income		61			60			56			54			65
Intersegment net referral fees (expense)		—			—			—			—			—
Noninterest expense		55			72			65			63			69
Amortization of intangibles		1			1			2			1			1
Allocated corporate expenses		17			17			16			16			21

Income (loss) before income taxes		97			116			93			66			99
Provision (benefit) for income taxes		26			33			25			13			26
Segment net income (loss)	$	71		$	83		$	68		$	53		$	73

Identifiablesegment assets (period end)	$	17,629		$	18,143		$	18,892		$	18,311		$	18,907

(1)	Lines of business results are preliminary.


BB&T Corporation

Lines of Business Financial Performance - Five Quarter Trend (1)

(Dollars in millions)


	Quarter Ended
Insurance Services	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	1		$	—		$	1		$	1		$	1
Net intersegment interest income (expense)		1			2			2			1			1
Segment net interest income		2			2			3			2			2

Allocated provision for loan and lease losses		—			—			—			—			—
Noninterest income		385			357			427			366			368
Intersegment net referral fees (expense)		—			—			—			—			—
Noninterest expense		269			286			292			288			272
Amortization of intangibles		15			15			16			15			16
Allocated corporate expenses		28			23			22			23			23

Income (loss) before income taxes		75			35			100			42			59
Provision (benefit) for income taxes		26			13			34			12			21
Segment net income (loss)	$	49		$	22		$	66		$	30		$	38


Identifiable segment assets (period end)	$	2,990		$	2,876		$	3,164		$	3,160		$	3,297


	Quarter Ended
Financial Services	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	38		$	38		$	40		$	34		$	33
Net intersegment interest income (expense)		70			73			74			80			84
Segment net interest income		108			111			114			114			117

Allocated provision for loan and lease losses		(2	)		(2	)		14			9			(8	)
Noninterest income		205			179			183			176			193
Intersegment net referral fees (expense)		9			8			11			8			15
Noninterest expense		160			150			155			152			163
Amortization of intangibles		1			1			—			1			1
Allocated corporate expenses		24			25			26			24			23

Income (loss) before income taxes		139			124			113			112			146
Provision (benefit) for income taxes		52			47			42			42			55
Segment net income (loss)	$	87		$	77		$	71		$	70		$	91


Identifiable segment assets (period end)	$	10,434		$	11,486		$	10,425		$	10,213		$	9,283


	Quarter Ended
Other, Treasury & Corporate (2)	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	149		$	160		$	160		$	185		$	217
Net intersegment interest income (expense)		(71	)		(79	)		(99	)		(107	)		(123	)
Segment net interest income		78			81			61			78			94

Allocated provision for loan and lease losses		(27	)		29			(54	)		46			(17	)
Noninterest income		(46	)		(103	)		(74	)		(39	)		(116	)
Intersegment net referral fees (expense)		(37	)		(46	)		(55	)		(57	)		(64	)
Noninterest expense		414			407			392			358			364
Amortization of intangibles		1			—			—			—			—
Allocated corporate expenses		(355	)		(348	)		(349	)		(346	)		(347	)

Income (loss) before income taxes		(38	)		(156	)		(57	)		(76	)		(86	)
Provision (benefit) for income taxes		(68	)		118			(83	)		193			(96	)
Segment net income (loss)	$	30		$	(274	)	$	26		$	(269	)	$	10


Identifiable segment assets (period end)	$	48,953		$	45,372		$	47,721		$	47,515		$	49,797


	Quarter Ended
Total BB&T Corporation	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net interest income (expense)	$	1,362		$	1,417		$	1,415		$	1,422		$	1,476
Net intersegment interest income (expense)		—			—			—			—			—
Segment net interest income		1,362			1,417			1,415			1,422			1,476

Allocated provision for loan and lease losses		60			92			168			272			252
Noninterest income		985			905			1,046			1,001			1,020
Intersegment net referral fees (expense)		—			—			—			—			—
Noninterest expense		1,430			1,445			1,469			1,387			1,460
Amortization of intangibles		26			26			27			27			28
Allocated corporate expenses		—			—			—			—			—
Income (loss) before income taxes		831			759			797			737			756
Provision (benefit) for income taxes		243			450			221			481			207
Segment net income (loss)	$	588		$	309		$	576		$	256		$	549


Identifiable segment assets (period end)	$	182,341		$	181,050		$	182,735		$	180,837		$	183,872

(1)	Lines of business results are preliminary.

(2)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.


BB&T Corporation

Consolidated Balance Sheets

(Dollars in millions)


	As of December 31						Change
	2013			2012			$			%
Assets
Cash and due from banks	$	1,565		$	1,975		$	(410	)		(20.8	)%
Interest-bearing deposits with banks		452			942			(490	)		(52.0	)
Federal funds sold and securities purchased under resale agreements or similar arrangements		148			122			26			21.3
Restricted cash		422			750			(328	)		(43.7	)
Trading securities at fair value		381			497			(116	)		(23.3	)
Securities available for sale at fair value (1)		22,104			25,137			(3,033	)		(12.1	)
Securities held to maturity		18,101			13,594			4,507			33.2
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,508			38,295			213			0.6
Commercial real estate—other		11,672			11,461			211			1.8
Commercial real estate—residential ADC (2)		938			1,261			(323	)		(25.6	)
Direct retail lending		15,869			15,817			52			0.3
Sales finance loans		9,382			7,736			1,646			21.3
Revolving credit loans		2,403			2,330			73			3.1
Residential mortgage loans		24,648			24,272			376			1.5
Other lending subsidiaries		10,462			10,137			325			3.2
Total loans and leases held for investment (excluding covered loans)		113,882			111,309			2,573			2.3
Covered loans		2,035			3,294			(1,259	)		(38.2	)
Total loans and leases held for investment		115,917			114,603			1,314			1.1
Loans held for sale		1,222			3,761			(2,539	)		(67.5	)
Total loans and leases		117,139			118,364			(1,225	)		(1.0	)
Allowance for loan and lease losses		(1,732	)		(2,018	)		286			(14.2	)
FDIC loss share receivable		174			479			(305	)		(63.7	)
Premises and equipment		1,869			1,888			(19	)		(1.0	)
Goodwill		6,814			6,804			10			0.1
Core deposit and other intangible assets		569			673			(104	)		(15.5	)
Residential mortgage servicing rights at fair value		1,047			627			420			67.0
Other assets (3)		13,288			14,038			(750	)		(5.3	)
Total assets	$	182,341		$	183,872		$	(1,531	)		(0.8	)%

Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing deposits	$	34,972		$	32,452		$	2,520			7.8	%
Interest checking		18,861			21,091			(2,230	)		(10.6	)
Money market and savings		48,687			47,908			779			1.6
Certificates and other time deposits		24,955			31,624			(6,669	)		(21.1	)
Total deposits		127,475			133,075			(5,600	)		(4.2	)
Short-term borrowings		4,138			2,864			1,274			44.5
Long-term debt		21,493			19,114			2,379			12.4
Other liabilities		6,426			7,596			(1,170	)		(15.4	)
Total liabilities		159,532			162,649			(3,117	)		(1.9	)
Shareholders’ equity:
Preferred stock		2,603			2,116			487			23.0
Common stock		3,533			3,499			34			1.0
Additional paid-in capital		6,172			5,973			199			3.3
Retained earnings		11,044			10,129			915			9.0
Accumulated other comprehensive loss		(593	)		(559	)		(34	)		6.1
Noncontrolling interests		50			65			(15	)		(23.1	)
Total shareholders’ equity		22,809			21,223			1,586			7.5
Total liabilities and shareholders’ equity	$	182,341		$	183,872		$	(1,531	)		(0.8	)%

(1)	Includes covered securities of $1.4 billion and $1.6 billion at December 31, 2013 and 2012, respectively.

(2)	Commercial real estate - residential ADC represents residential acquisition, development and construction loans.

(3)	Includes $163 million and $297 million of covered foreclosed property and covered other assets at December 31, 2013 and 2012, respectively.

NM - not meaningful.


BB&T Corporation

Consolidated Balance Sheets - Five Quarter Trend

(Dollars in millions)


	As of
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012
Assets
Cash and due from banks	$	1,565		$	1,811		$	1,444		$	1,322		$	1,975
Interest-bearing deposits with banks		452			498			740			944			942
Federal funds sold and securities purchased under resale agreements or similar arrangements		148			160			195			302			122
Restricted cash		422			516			585			646			750
Trading securities at fair value		381			521			537			627			497
Securities available for sale at fair value (1)		22,104			22,865			24,477			24,170			25,137
Securities held to maturity		18,101			13,529			13,751			13,119			13,594
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,508			38,256			38,701			38,429			38,295
Commercial real estate—other		11,672			11,331			11,440			11,425			11,461
Commercial real estate—residential ADC		938			982			1,058			1,175			1,261
Direct retail lending		15,869			16,128			16,069			15,767			15,817
Sales finance loans		9,382			9,132			8,821			8,114			7,736
Revolving credit loans		2,403			2,333			2,325			2,284			2,330
Residential mortgage loans		24,648			24,037			23,795			23,954			24,272
Other lending subsidiaries		10,462			11,102			10,836			10,043			10,137
Total loans and leases held for investment (excluding covered loans)		113,882			113,301			113,045			111,191			111,309
Covered loans		2,035			2,324			2,749			3,005			3,294
Total loans and leases held for investment		115,917			115,625			115,794			114,196			114,603
Loans held for sale		1,222			2,957			2,488			3,432			3,761
Total loans and leases		117,139			118,582			118,282			117,628			118,364
Allowance for loan and lease losses		(1,732	)		(1,838	)		(1,901	)		(1,975	)		(2,018	)
FDIC loss share receivable		174			245			299			368			479
Premises and equipment		1,869			1,876			1,893			1,880			1,888
Goodwill		6,814			6,823			6,824			6,823			6,804
Core deposit and other intangible assets		569			595			620			647			673
Residential mortgage servicing rights at fair value		1,047			956			892			735			627
Other assets (2)		13,288			13,911			14,097			13,601			14,038
Total assets	$	182,341		$	181,050		$	182,735		$	180,837		$	183,872

Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing deposits	$	34,972		$	34,486		$	33,760		$	33,236		$	32,452
Interest checking		18,861			18,837			19,053			20,175			21,091
Money market and savings		48,687			49,000			48,529			49,088			47,908
Certificates and other time deposits		24,955			25,161			29,737			28,853			31,624
Total deposits		127,475			127,484			131,079			131,352			133,075
Short-term borrowings		4,138			4,813			3,192			3,239			2,864
Long-term debt		21,493			20,402			19,362			18,316			19,114
Other liabilities		6,426			6,257			7,106			6,701			7,596
Total liabilities		159,532			158,956			160,739			159,608			162,649
Shareholders’ equity:
Preferred stock		2,603			2,603			2,603			2,116			2,116
Common stock		3,533			3,525			3,515			3,507			3,499
Additional paid-in capital		6,172			6,112			6,042			5,975			5,973
Retained earnings		11,044			10,669			10,564			10,178			10,129
Accumulated other comprehensive loss		(593	)		(860	)		(784	)		(612	)		(559	)
Noncontrolling interests		50			45			56			65			65
Total shareholders’ equity		22,809			22,094			21,996			21,229			21,223
Total liabilities and shareholders’ equity	$	182,341		$	181,050		$	182,735		$	180,837		$	183,872

(1)	Includes covered securities of $1.4 billion, $1.4 billion, $1.5 billion, $1.6 billion and $1.6 billion at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

(2)	Includes $163 million, $186 million, $221 million, $273 million and $297 million of covered foreclosed property and covered other assets at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.


BB&T Corporation

Average Balance Sheets

(Dollars in millions)


	Quarter Ended December 31				Change						Year-to-Date December 31				Change
	2013		2012		$			%			2013		2012		$			%
Assets
Securities, at amortized cost (1):
U.S. Treasury securities	$	824	$	289	$	535			185.1	%	$	502	$	272	$	230			84.6	%
U.S. government-sponsored entities (GSE)		5,596		3,147		2,449			77.8			5,016		1,329		3,687			NM
Mortgage-backed securities issued by GSE		27,020		29,162		(2,142	)		(7.3	)		27,598		30,848		(3,250	)		(10.5	)
States and political subdivisions		1,834		1,841		(7	)		(0.4	)		1,836		1,851		(15	)		(0.8	)
Non-agency mortgage-backed securities		268		312		(44	)		(14.1	)		283		346		(63	)		(18.2	)
Other securities		475		487		(12	)		(2.5	)		470		505		(35	)		(6.9	)
Covered securities		1,005		1,145		(140	)		(12.2	)		1,067		1,183		(116	)		(9.8	)
Total securities		37,022		36,383		639			1.8			36,772		36,334		438			1.2
Other earning assets		2,022		3,377		(1,355	)		(40.1	)		2,412		3,359		(947	)		(28.2	)
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,101		38,022		79			0.2			38,206		36,966		1,240			3.4
Commercial real estate—other		11,494		11,032		462			4.2			11,418		10,779		639			5.9
Commercial real estate—residential ADC		970		1,398		(428	)		(30.6	)		1,087		1,665		(578	)		(34.7	)
Direct retail lending		15,998		15,767		231			1.5			15,952		15,270		682			4.5
Sales finance loans		9,262		7,724		1,538			19.9			8,658		7,680		978			12.7
Revolving credit loans		2,357		2,280		77			3.4			2,303		2,217		86			3.9
Residential mortgage loans		23,979		23,820		159			0.7			23,598		22,623		975			4.3
Other lending subsidiaries		10,448		10,051		397			3.9			10,468		9,525		943			9.9
Total loans and leases held for investment (excluding covered loans)		112,609		110,094		2,515			2.3			111,690		106,725		4,965			4.7
Covered loans		2,186		3,477		(1,291	)		(37.1	)		2,667		4,045		(1,378	)		(34.1	)
Total loans and leases held for investment		114,795		113,571		1,224			1.1			114,357		110,770		3,587			3.2
Loans held for sale		2,206		3,532		(1,326	)		(37.5	)		3,170		2,963		207			7.0
Total loans and leases		117,001		117,103		(102	)		(0.1	)		117,527		113,733		3,794			3.3
Total earning assets		156,045		156,863		(818	)		(0.5	)		156,711		153,426		3,285			2.1
Nonearning assets		22,825		25,341		(2,516	)		(9.9	)		23,888		24,676		(788	)		(3.2	)
Total assets	$	178,870	$	182,204	$	(3,334	)		(1.8	)%	$	180,599	$	178,102	$	2,497			1.4	%

Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing deposits	$	35,347	$	31,849	$	3,498			11.0	%	$	33,932	$	28,925	$	5,007			17.3	%
Interest checking		18,969		19,837		(868	)		(4.4	)		19,305		19,904		(599	)		(3.0	)
Money market and savings		49,298		47,965		1,333			2.8			48,640		46,927		1,713			3.7
Certificates and other time deposits		21,580		31,724		(10,144	)		(32.0	)		26,006		31,647		(5,641	)		(17.8	)
Foreign office deposits - interest-bearing		712		387		325			84.0			672		214		458			NM
Total deposits		125,906		131,762		(5,856	)		(4.4	)		128,555		127,617		938			0.7
Short-term borrowings		3,865		3,340		525			15.7			4,459		3,408		1,051			30.8
Long-term debt		20,756		18,689		2,067			11.1			19,301		20,651		(1,350	)		(6.5	)
Other liabilities		6,038		7,225		(1,187	)		(16.4	)		6,394		6,949		(555	)		(8.0	)
Total liabilities		156,565		161,016		(4,451	)		(2.8	)		158,709		158,625		84			0.1
Shareholders’ equity		22,305		21,188		1,117			5.3			21,890		19,477		2,413			12.4
Total liabilities and shareholders’ equity	$	178,870	$	182,204	$	(3,334	)		(1.8	)%	$	180,599	$	178,102	$	2,497			1.4	%

Average balances exclude basis adjustments for fair value hedges.

(1)	Excludes trading securities.

NM - not meaningful.


BB&T Corporation

Average Balance Sheets - Five Quarter Trend

(Dollars in millions)


	Quarter Ended
	Dec. 31 2013		Sept. 30 2013		June 30 2013		March 31 2013		Dec. 31 2012
Assets
Securities, at amortized cost (1):
U.S. Treasury securities	$	824	$	518	$	360	$	302	$	289
U.S. government-sponsored entities (GSE)		5,596		5,358		4,872		4,220		3,147
Mortgage-backed securities issued by GSE		27,020		27,050		27,803		28,540		29,162
States and political subdivisions		1,834		1,835		1,836		1,837		1,841
Non-agency mortgage-backed securities		268		277		289		300		312
Other securities		475		463		466		477		487
Covered securities		1,005		1,046		1,093		1,125		1,145
Total securities		37,022		36,547		36,719		36,801		36,383
Other earning assets		2,022		2,173		2,626		2,838		3,377
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,101		38,446		38,359		37,916		38,022
Commercial real estate—other		11,494		11,344		11,411		11,422		11,032
Commercial real estate—residential ADC		970		1,022		1,121		1,238		1,398
Direct retail lending		15,998		16,112		15,936		15,757		15,767
Sales finance loans		9,262		8,992		8,520		7,838		7,724
Revolving credit loans		2,357		2,308		2,268		2,279		2,280
Residential mortgage loans		23,979		23,403		23,391		23,618		23,820
Other lending subsidiaries		10,448		11,018		10,407		9,988		10,051
Total loans and leases held for investment (excluding covered loans)		112,609		112,645		111,413		110,056		110,094
Covered loans		2,186		2,502		2,858		3,133		3,477
Total loans and leases held for investment		114,795		115,147		114,271		113,189		113,571
Loans held for sale		2,206		3,118		3,581		3,792		3,532
Total loans and leases		117,001		118,265		117,852		116,981		117,103
Total earning assets		156,045		156,985		157,197		156,620		156,863
Nonearning assets		22,825		23,378		24,637		24,738		25,341
Total assets	$	178,870	$	180,363	$	181,834	$	181,358	$	182,204

Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing deposits	$	35,347	$	34,244	$	33,586	$	32,518	$	31,849
Interest checking		18,969		18,826		19,276		20,169		19,837
Money market and savings		49,298		48,676		48,140		48,431		47,965
Certificates and other time deposits		21,580		25,562		28,034		28,934		31,724
Foreign office deposits - interest-bearing		712		640		947		385		387
Total deposits		125,906		127,948		129,983		130,437		131,762
Short-term borrowings		3,865		4,637		5,118		4,217		3,340
Long-term debt		20,756		19,447		18,287		18,690		18,689
Other liabilities		6,038		6,192		6,657		6,699		7,225
Total liabilities		156,565		158,224		160,045		160,043		161,016
Shareholders’ equity		22,305		22,139		21,789		21,315		21,188
Total liabilities and shareholders’ equity	$	178,870	$	180,363	$	181,834	$	181,358	$	182,204

Average balances exclude basis adjustments for fair value hedges.

(1)	Excludes trading securities.


BB&T Corporation

Average Balances and Rates - Quarters

(Dollars in millions)


	Quarter Ended
	December 31, 2013							September 30, 2013
	(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates			(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates

Assets
Securities, at amortized cost (3):
U.S. Treasury securities	$	824	$	2		0.70	%	$	518	$	—		0.23	%
U.S. government-sponsored entities (GSE)		5,596		29		2.10			5,358		28		2.06
Mortgage-backed securities issued by GSE		27,020		142		2.11			27,050		135		2.01
States and political subdivisions		1,834		27		5.82			1,835		27		5.79
Non-agency mortgage-backed securities		268		4		5.87			277		4		5.75
Other securities		475		2		1.42			463		2		1.44
Covered securities		1,005		28		11.17			1,046		38		14.37

Total securities		37,022		234		2.52			36,547		234		2.56

Other earning assets		2,022		5		0.91			2,173		8		1.49
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,101		336		3.50			38,446		346		3.58
Commercial real estate—other		11,494		103		3.58			11,344		105		3.66
Commercial real estate—residential ADC		970		11		4.50			1,022		11		4.44
Direct retail lending		15,998		183		4.50			16,112		188		4.67
Sales finance loans		9,262		69		2.95			8,992		69		3.06
Revolving credit loans		2,357		51		8.64			2,308		50		8.60
Residential mortgage loans		23,979		250		4.18			23,403		249		4.24
Other lending subsidiaries		10,448		247		9.40			11,018		280		10.09

Total loans and leases held for investment (excluding covered loans)		112,609		1,250		4.41			112,645		1,298		4.59
Covered loans		2,186		89		16.28			2,502		106		16.78

Total loans and leases held for investment		114,795		1,339		4.64			115,147		1,404		4.85
Loans held for sale		2,206		23		4.19			3,118		30		3.73

Total loans and leases		117,001		1,362		4.63			118,265		1,434		4.82

Total earning assets		156,045		1,601		4.08			156,985		1,676		4.25

Nonearning assets		22,825							23,378

Total assets	$	178,870						$	180,363

Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking	$	18,969		3		0.07		$	18,826		4		0.07
Money market and savings		49,298		16		0.12			48,676		15		0.12
Certificates and other time deposits		21,580		45		0.83			25,562		53		0.83
Foreign office deposits - interest-bearing		712		1		0.06			640		—		0.06

Total interest-bearing deposits		90,559		65		0.28			93,704		72		0.31

Short-term borrowings		3,865		1		0.14			4,637		2		0.13
Long-term debt		20,756		138		2.64			19,447		148		3.05

Total interest-bearing liabilities		115,180		204		0.70			117,788		222		0.75

Noninterest-bearing deposits		35,347							34,244
Other liabilities		6,038							6,192
Shareholders’ equity		22,305							22,139

Total liabilities and shareholders’ equity	$	178,870						$	180,363


Average interest-rate spread						3.38							3.50

Net interest income/ net interest margin			$	1,397		3.56	%			$	1,454		3.68	%


Taxable-equivalent adjustment			$	35						$	37

Applicable ratios are annualized.

(1)	Excludes basis adjustments for fair value hedges.

(2)	Yields are on a fully taxable-equivalent basis.

(3)	Excludes trading securities.


BB&T Corporation

Average Balances and Rates - Quarters

(Dollars in millions)


	Quarter Ended
	June 30, 2013							March 31, 2013							December 31, 2012
	(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates			(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates			(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates
Assets
Securities, at amortized cost (3):
U.S. Treasury securities	$	360	$	—		0.23	%	$	302	$	—		0.24	%	$	289	$	—		0.24	%
U.S. government-sponsored entities (GSE)		4,872		25		2.01			4,220		21		1.99			3,147		15		1.94
Mortgage-backed securities issued by GSE		27,803		138		1.97			28,540		137		1.92			29,162		139		1.90
States and political subdivisions		1,836		26		5.81			1,837		27		5.80			1,841		27		5.82
Non-agency mortgage-backed securities		289		4		5.57			300		4		5.58			312		4		5.67
Other securities		466		1		1.51			477		2		1.41			487		2		1.59
Covered securities		1,093		34		12.48			1,125		37		13.18			1,145		48		16.53
Total securities		36,719		228		2.49			36,801		228		2.48			36,383		235		2.58
Other earning assets		2,626		9		1.40			2,838		12		1.64			3,377		10		1.16
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,359		351		3.67			37,916		353		3.76			38,022		369		3.87
Commercial real estate—other		11,411		106		3.71			11,422		107		3.81			11,032		106		3.82
Commercial real estate—residential ADC		1,121		12		4.30			1,238		13		4.15			1,398		15		4.14
Direct retail lending		15,936		186		4.67			15,757		184		4.73			15,767		191		4.80
Sales finance loans		8,520		69		3.25			7,838		68		3.52			7,724		73		3.72
Revolving credit loans		2,268		48		8.48			2,279		48		8.51			2,280		48		8.40
Residential mortgage loans		23,391		246		4.21			23,618		251		4.26			23,820		251		4.23
Other lending subsidiaries		10,407		274		10.54			9,988		267		10.84			10,051		271		10.73
Total loans and leases held for investment (excluding covered loans)		111,413		1,292		4.64			110,056		1,291		4.74			110,094		1,324		4.79
Covered loans		2,858		121		16.95			3,133		135		17.49			3,477		166		18.98
Total loans and leases held for investment		114,271		1,413		4.95			113,189		1,426		5.09			113,571		1,490		5.22
Loans held for sale		3,581		30		3.42			3,792		31		3.28			3,532		28		3.27
Total loans and leases		117,852		1,443		4.90			116,981		1,457		5.03			117,103		1,518		5.16
Total earning assets		157,197		1,680		4.28			156,620		1,697		4.37			156,863		1,763		4.48
Nonearning assets		24,637							24,738							25,341
Total assets	$	181,834						$	181,358						$	182,204

Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking	$	19,276		3		0.08		$	20,169		5		0.09		$	19,837		6		0.12
Money market and savings		48,140		15		0.13			48,431		18		0.15			47,965		19		0.15
Certificates and other time deposits		28,034		60		0.84			28,934		63		0.89			31,724		71		0.90
Foreign office deposits - interest-bearing		947		—		0.09			385		—		0.12			387		—		0.13
Total interest-bearing deposits		96,397		78		0.32			97,919		86		0.36			99,913		96		0.38
Short-term borrowings		5,118		2		0.18			4,217		2		0.18			3,340		2		0.27
Long-term debt		18,287		148		3.23			18,690		150		3.23			18,689		152		3.24
Total interest-bearing liabilities		119,802		228		0.76			120,826		238		0.79			121,942		250		0.82
Noninterest-bearing deposits		33,586							32,518							31,849
Other liabilities		6,657							6,699							7,225
Shareholders’ equity		21,789							21,315							21,188
Total liabilities and shareholders’ equity	$	181,834						$	181,358						$	182,204


Average interest-rate spread						3.52							3.58							3.66

Net interest income/ net interest margin			$	1,452		3.70	%			$	1,459		3.76	%			$	1,513		3.84	%


Taxable-equivalent adjustment			$	37						$	37						$	37

Applicable ratios are annualized.

(1)	Excludes basis adjustments for fair value hedges.

(2)	Yields are on a fully taxable-equivalent basis.

(3)	Excludes trading securities.


BB&T Corporation

Average Balances and Rates - Year-To-Date

(Dollars in millions)


	Year-to-Date
	December 31, 2013							December 31, 2012
	(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates			(1) Average Balances		Interest Income/ Expense		(2) Yields/ Rates
Assets
Securities, at amortized cost (3):
U.S. Treasury securities	$	502	$	2		0.42	%	$	272	$	1		0.22	%
U.S. government-sponsored entities (GSE)		5,016		103		2.04			1,329		25		1.92
Mortgage-backed securities issued by GSE		27,598		552		2.00			30,848		624		2.02
States and political subdivisions		1,836		107		5.80			1,851		108		5.83
Non-agency mortgage-backed securities		283		16		5.69			346		20		5.76
Other securities		470		7		1.45			505		8		1.65
Covered securities		1,067		137		12.82			1,183		172		14.53
Total securities		36,772		924		2.51			36,334		958		2.64
Other earning assets		2,412		34		1.39			3,359		31		0.91
Loans and leases:
Commercial loans and leases:
Commercial and industrial		38,206		1,386		3.63			36,966		1,464		3.96
Commercial real estate—other		11,418		421		3.69			10,779		411		3.81
Commercial real estate—residential ADC		1,087		47		4.34			1,665		63		3.76
Direct retail lending		15,952		741		4.64			15,270		744		4.87
Sales finance loans		8,658		275		3.18			7,680		305		3.97
Revolving credit loans		2,303		197		8.56			2,217		186		8.41
Residential mortgage loans		23,598		996		4.22			22,623		989		4.37
Other lending subsidiaries		10,468		1,068		10.20			9,525		1,051		11.04
Total loans and leases held for investment (excluding covered loans)		111,690		5,131		4.59			106,725		5,213		4.88
Covered loans		2,667		451		16.93			4,045		765		18.91
Total loans and leases held for investment		114,357		5,582		4.88			110,770		5,978		5.40
Loans held for sale		3,170		114		3.59			2,963		101		3.42
Total loans and leases		117,527		5,696		4.85			113,733		6,079		5.35
Total earning assets		156,711		6,654		4.25			153,426		7,068		4.61
Nonearning assets		23,888							24,676
Total assets	$	180,599						$	178,102

Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking	$	19,305		15		0.08		$	19,904		25		0.12
Money market and savings		48,640		64		0.13			46,927		85		0.18
Certificates and other time deposits		26,006		221		0.85			31,647		319		1.01
Foreign office deposits - interest-bearing		672		1		0.08			214		—		0.11
Total interest-bearing deposits		94,623		301		0.32			98,692		429		0.43
Short-term borrowings		4,459		7		0.16			3,408		9		0.26
Long-term debt		19,301		584		3.03			20,651		624		3.02
Total interest-bearing liabilities		118,383		892		0.75			122,751		1,062		0.86
Noninterest-bearing deposits		33,932							28,925
Other liabilities		6,394							6,949
Shareholders’ equity		21,890							19,477
Total liabilities and shareholders’ equity	$	180,599						$	178,102


Average interest-rate spread						3.50							3.75

Net interest income/ net interest margin			$	5,762		3.68	%			$	6,006		3.91	%


Taxable-equivalent adjustment			$	146						$	149

Applicable ratios are annualized.

(1)	Excludes basis adjustments for fair value hedges.

(2)	Yields are on a fully taxable-equivalent basis.

(3)	Excludes trading securities.


BB&T Corporation

Credit Quality

(Dollars in millions)


	As of
	Dec. 31 2013		Sept. 30 2013		June 30 2013		March 31 2013		Dec. 31 2012

Nonperforming assets (1)
Nonaccrual loans and leases:
Commercial loans and leases:
Commercial and industrial	$	363	$	415	$	457	$	533	$	546
Commercial real estate—other		129		151		181		188		212
Commercial real estate—residential ADC		35		42		65		94		128
Direct retail lending		109		110		119		127		132
Sales finance loans		5		5		5		6		7
Residential mortgage loans (2)		243		238		254		255		269
Other lending subsidiaries (2)(3)		51		69		68		80		86

Total nonaccrual loans and leases held for investment (3)		935		1,030		1,149		1,283		1,380
Foreclosed real estate (4)		71		85		89		88		107
Other foreclosed property		47		47		38		42		49

Total nonperforming assets (excluding covered assets) (3)(4)	$	1,053	$	1,162	$	1,276	$	1,413	$	1,536

Performing troubled debt restructurings (TDRs) (5)
Commercial loans and leases:
Commercial and industrial	$	77	$	74	$	59	$	54	$	77
Commercial real estate—other		70		69		61		67		67
Commercial real estate—residential ADC		19		25		26		24		21
Direct retail lending		187		185		188		193		197
Sales finance loans		17		18		17		19		19
Revolving credit loans		48		51		53		55		56
Residential mortgage loans (2)(6)		785		720		726		715		769
Other lending subsidiaries (2)(3)		126		200		183		162		121

Total performing TDRs (3)(6)(7)	$	1,329	$	1,342	$	1,313	$	1,289	$	1,327

Loans 90 days or more past due and still accruing
Commercial loans and leases:
Commercial and industrial	$	—	$	—	$	3	$	—	$	1
Direct retail lending		33		34		30		34		38
Sales finance loans		5		5		5		7		10
Revolving credit loans		10		11		13		14		16
Residential mortgage loans (8)(9)		69		68		68		77		92
Other lending subsidiaries		5		4		4		6		10

Total loans 90 days past due and still accruing (excluding covered loans) (8)(9)(10)	$	122	$	122	$	123	$	138	$	167

Loans 30-89 days past due
Commercial loans and leases:
Commercial and industrial	$	35	$	27	$	32	$	34	$	42
Commercial real estate—other		8		13		10		10		12
Commercial real estate—residential ADC		2		2		2		2		2
Direct retail lending		132		121		123		136		145
Sales finance loans		56		46		47		42		56
Revolving credit loans		23		22		20		20		23
Residential mortgage loans (2)(11)(12)		463		424		465		529		498
Other lending subsidiaries (2)(3)		221		268		241		183		290

Total loans 30-89 days past due (excluding covered loans) (3)(11)(12)(13)	$	940	$	923	$	940	$	956	$	1,068

(1)	Covered loans are considered to be performing due to the application of the accretion method. Covered loans that are contractually past due are noted below.

(2)	During the fourth quarter of 2013, approximately $16 million of nonaccrual loans, $66 million of performing TDRs and $40 million of loans 30-89 days past due were transferred from other lending subsidiaries to residential mortgage loans.

(3)	During the fourth quarter of 2013, approximately $9 million of nonaccrual loans, $24 million of performing TDRs and $26 million of loans 30-89 days past due were sold in connection with the sale of a consumer lending subsidiary.

(4)	Excludes covered foreclosed real estate totaling $121 million, $148 million, $181 million, $232 million and $254 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

(5)	Excludes TDRs that are nonperforming totaling $193 million, $191 million, $211 million, $222 million, and $231 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. These amounts are included in total nonperforming assets.

(6)	Excludes mortgage TDRs that are government guaranteed totaling $379 million, $383 million, $367 million, $338 million and $315 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. Includes mortgage TDRs held for sale.

(7)	During the fourth quarter of 2012, $226 million of performing loans were classified as TDRs in connection with recent regulatory guidance related to loans discharged in bankruptcy not reaffirmed by the borrower.

(8)

Excludes mortgage loans past due 90 days or more that are government guaranteed totaling $297 million, $268 million, $246 million, $251 million and $254 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. Includes past due mortgage loans held for sale.

(9)

Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase that are past due 90 days or more totaling $511 million, $497 million, $492 million, $514 million and $517 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

(10)	Excludes covered loans past due 90 days or more totaling $304 million, $364 million, $401 million, $371 million and $442 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

(11)

Excludes mortgage loans past due 30-89 days that are government guaranteed totaling $96 million, $107 million, $103 million, $95 million and $96 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively. Includes past due mortgage loans held for sale.

(12)

Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase that are past due 30-89 days totaling $4 million, $5 million, $5 million, $5 million and $5 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.

(13)	Excludes covered loans past due 30-89 days totaling $88 million, $104 million, $102 million, $120 million and $135 million at December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013 and December 31, 2012, respectively.


BB&T Corporation

Credit Quality

(Dollars in millions)


	As of/For the Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Allowance for credit losses
Beginning balance	$	1,930		$	1,982		$	2,031		$	2,048		$	2,096
Provision for credit losses (excluding covered loans)		71			90			179			247			256
Provision for covered loans		(11	)		2			(11	)		25			(4	)
Charge-offs:
Commercial loans and leases:
Commercial and industrial		(45	)		(42	)		(70	)		(91	)		(98	)
Commercial real estate—other		(7	)		(11	)		(30	)		(36	)		(41	)
Commercial real estate—residential ADC		(3	)		(6	)		(19	)		(20	)		(27	)
Direct retail lending		(29	)		(35	)		(42	)		(42	)		(54	)
Sales finance loans		(7	)		(5	)		(5	)		(6	)		(7	)
Revolving credit loans		(22	)		(22	)		(20	)		(21	)		(19	)
Residential mortgage loans		(17	)		(15	)		(16	)		(33	)		(29	)
Other lending subsidiaries		(60	)		(66	)		(61	)		(68	)		(60	)
Covered loans		(1	)		(2	)		(2	)		(14	)		(5	)

Total charge-offs		(191	)		(204	)		(265	)		(331	)		(340	)

Recoveries:
Commercial loans and leases:
Commercial and industrial		13			17			10			7			5
Commercial real estate—other		7			10			7			4			4
Commercial real estate—residential ADC		6			8			3			6			8
Direct retail lending		9			11			10			8			9
Sales finance loans		2			3			2			2			3
Revolving credit loans		4			3			5			5			4
Residential mortgage loans		1			—			1			1			1
Other lending subsidiaries		7			8			10			9			6

Total recoveries		49			60			48			42			40

Net charge-offs		(142	)		(144	)		(217	)		(289	)		(300	)

Sale of subsidiary		(27	)		—			—			—			—

Ending balance	$	1,821		$	1,930		$	1,982		$	2,031		$	2,048

Allowance for credit losses
Allowance for loan and lease losses (excluding covered loans)	$	1,618		$	1,712		$	1,775		$	1,836		$	1,890
Allowance for covered loans		114			126			126			139			128
Reserve for unfunded lending commitments		89			92			81			56			30

Total	$	1,821		$	1,930		$	1,982		$	2,031		$	2,048


										As of/For the Twelve Months Ended December 31
										2013			2012

Allowance for credit losses
Beginning balance										$	2,048		$	2,285
Provision for credit losses (excluding covered loans)											587			1,044
Provision for covered loans											5			13
Charge-offs
Commercial loans and leases
Commercial and industrial											(248	)		(337	)
Commercial real estate—other											(84	)		(205	)
Commercial real estate—residential ADC											(48	)		(190	)
Direct retail lending											(148	)		(224	)
Sales finance loans											(23	)		(26	)
Revolving credit loans											(85	)		(81	)
Residential mortgage loans											(81	)		(136	)
Other lending subsidiaries											(255	)		(225	)
Covered loans											(19	)		(34	)

Total charge-offs											(991	)		(1,458	)

Recoveries
Commercial loans and leases
Commercial and industrial											47			17
Commercial real estate—other											28			13
Commercial real estate—residential ADC											23			41
Direct retail lending											38			36
Sales finance loans											9			10
Revolving credit loans											17			18
Residential mortgage loans											3			3
Other lending subsidiaries											34			26

Total recoveries											199			164

Net charge-offs											(792	)		(1,294	)

Sale of subsidiary											(27	)		—

Ending balance										$	1,821		$	2,048


BB&T Corporation

Credit Quality


	As of/For the Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Asset Quality Ratios (including covered assets)
Loans 30-89 days past due and still accruing as a percentage of total loans and leases (1)(2)		0.88	%		0.87	%		0.88	%		0.91	%		1.02	%
Loans 90 days or more past due and still accruing as a percentage of total loans and leases (1)(2)		0.36			0.41			0.44			0.43			0.52
Nonperforming loans and leases as a percentage of total loans and leases		0.80			0.87			0.97			1.09			1.17
Nonperforming assets as a percentage of:
Total assets		0.64			0.72			0.80			0.91			0.97
Loans and leases plus foreclosed property		1.00			1.10			1.23			1.39			1.51
Net charge-offs as a percentage of average loans and leases		0.48			0.48			0.74			1.00			1.02
Allowance for loan and lease losses as a percentage of loans and leases held for investment		1.49			1.59			1.64			1.73			1.76
Ratio of allowance for loan and lease losses to:
Net charge-offs		3.06	X		3.22	X		2.18	X		1.69	X		1.69	X
Nonperforming loans and leases held for investment		1.85			1.78			1.66			1.54			1.46

Asset Quality Ratios (excluding covered assets) (3)
Loans 30-89 days past due and still accruing as a percentage of total loans and leases (1)(2)		0.82	%		0.79	%		0.81	%		0.83	%		0.93	%
Loans 90 days or more past due and still accruing as a percentage of total loans and leases (1)(2)		0.11			0.10			0.11			0.12			0.15
Nonperforming loans and leases as a percentage of total loans and leases		0.81			0.89			0.99			1.12			1.20
Nonperforming assets as a percentage of:
Total assets		0.58			0.65			0.71			0.80			0.85
Loans and leases plus foreclosed property		0.91			1.00			1.10			1.23			1.33
Net charge-offs as a percentage of average loans and leases		0.49			0.49			0.75			0.98			1.04
Allowance for loan and lease losses as a percentage of loans and leases held for investment		1.42			1.51			1.57			1.65			1.70
Ratio of allowance for loan and lease losses to:
Net charge-offs		2.88	X		3.03	X		2.07	X		1.65	X		1.60	X
Nonperforming loans and leases held for investment		1.73			1.66			1.55			1.43			1.37

										As of/For the Twelve Months Ended December 31
										2013			2012

Asset Quality Ratios
Including covered loans:
Net charge-offs as a percentage of average loans and leases											0.67	%		1.14	%
Ratio of allowance for loan and lease losses to net charge-offs											2.19	X		1.56	X
Excluding covered loans: (3)
Net charge-offs as a percentage of average loans and leases											0.67	%		1.15	%
Ratio of allowance for loan and lease losses to net charge-offs											2.09	X		1.50	X

Applicable ratios are annualized.

(1)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase. Refer to the footnotes in the Credit Quality section of this supplement for amounts related to these loans.

(2)	Excludes mortgage loans guaranteed by the government. Refer to the footnotes in the Credit Quality section of this supplement for amounts related to these loans.

(3)

These asset quality ratios have been adjusted to remove the impact of covered loans and covered foreclosed property. Appropriate adjustments to the numerator and denominator have been reflected in the calculation of these ratios. Management believes the inclusion of covered loans in certain asset quality ratios that include nonperforming assets, past due loans or net charge-offs in the numerator or denominator results in distortion of these ratios and they may not be comparable to other periods presented or to other portfolios that were not impacted by loss share accounting.


BB&T Corporation

Credit Quality - Supplemental Information

(Dollars in millions)


	As of December 31, 2013
	Current Status				Past Due 30-89 Days				Past Due 90+ Days				Total

Performing TDRs: (1)
Commercial loans:
Commercial and industrial	$	77	100.0	%	$	—	—	%	$	—	—	%	$	77
Commercial real estate—other		70	100.0			—	—			—	—			70
Commercial real estate—residential ADC		19	100.0			—	—			—	—			19
Direct retail lending		173	92.5			12	6.4			2	1.1			187
Sales finance loans		16	94.1			1	5.9			—	—			17
Revolving credit loans		40	83.3			5	10.4			3	6.3			48
Residential mortgage loans (2)		659	83.9			109	13.9			17	2.2			785
Other lending subsidiaries		109	86.5			17	13.5			—	—			126

Total performing TDRs		1,163	87.5			144	10.8			22	1.7			1,329
Nonperforming TDRs (3)		76	39.4			16	8.3			101	52.3			193

Total TDRs (2)	$	1,239	81.4	%	$	160	10.5	%	$	123	8.1	%	$	1,522


	Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net charge-offs as a percentage of average loans and leases:
Commercial loans and leases:
Commercial and industrial		0.33	%		0.26	%		0.63	%		0.89	%		0.97	%
Commercial real estate—other		—			0.07			0.78			1.16			1.37
Commercial real estate—residential ADC		(0.67	)		(0.72	)		5.66			4.40			5.36
Direct retail lending		0.50			0.61			0.79			0.87			1.13
Sales finance loans		0.20			0.15			0.10			0.20			0.20
Revolving credit loans		3.00			3.05			2.64			2.93			2.65
Residential mortgage loans		0.27			0.24			0.27			0.55			0.47
Other lending subsidiaries		2.01			2.05			1.98			2.42			2.16
Covered loans		0.16			0.25			0.41			1.77			0.50
Total loans and leases (4)		0.48			0.48			0.74			1.00			1.02

Total loans and leases, excluding covered loans (4)		0.49			0.49			0.75			0.98			1.04


										Year-to-date
										Dec. 31 2013			Dec. 31 2012

Net charge-offs as a percentage of average loans and leases:
Commercial loans and leases:
Commercial and industrial											0.52	%		0.87	%
Commercial real estate—other											0.50			1.80
Commercial real estate—residential ADC											2.37			8.92
Direct retail lending											0.69			1.23
Sales finance loans											0.16			0.21
Revolving credit loans											2.91			2.86
Residential mortgage loans											0.33			0.59
Other lending subsidiaries											2.11			2.09
Covered loans											0.71			0.83
Total loans and leases (4)											0.67			1.14

Total loans and leases, excluding covered loans (4)											0.67			1.15

Applicable ratios are annualized.

(1)	Past due performing TDRs are included in past due disclosures.

(2)	Excludes mortgage TDRs that are government guaranteed totaling $379 million.

(3)	Nonperforming TDRs are included in nonaccrual loan disclosures.

(4)	Total loans and leases includes loans held for sale.


BB&T Corporation

Preliminary Capital Information - Five Quarter Trend

(Dollars in millions, except per share data, shares in thousands)


	As of / Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Selected Capital Information
Risk-based capital:
Tier 1	$	16,074		$	15,606		$	15,397		$	14,432		$	14,373
Total		19,512			19,255			19,193			18,321			18,267
Risk-weighted assets (1)		136,366			138,303			138,265			135,914			136,367
Average quarterly tangible assets		172,142			173,787			174,865			174,214			175,015
Risk-based capital ratios:
Tier 1		11.8	%		11.3	%		11.1	%		10.6	%		10.5	%
Total		14.3			13.9			13.9			13.5			13.4
Leverage capital ratio		9.3			9.0			8.8			8.3			8.2
Equity as a percentage of total assets		12.5			12.2			12.0			11.7			11.5
Book value per common share	$	28.52		$	27.59		$	27.51		$	27.15		$	27.21

Selected non-GAAP Capital Information (2)
Tangible common equity as a percentage of tangible assets (3)		7.3	%		6.9	%		6.8	%		6.7	%		6.6	%
Tier 1 common equity as a percentage of risk-weighted assets		9.9			9.4			9.3			9.1			9.0

Tangible book value per common share (3)	$	18.08		$	17.06		$	16.92		$	16.50		$	16.53


Calculations of tangible common equity, Tier 1 common equity, tangible assets and related measures: (2)

Total shareholders’ equity	$	22,809		$	22,094		$	21,996		$	21,229		$	21,223
Less:
Preferred stock		2,603			2,603			2,603			2,116			2,116
Noncontrolling interests		50			45			56			65			65
Intangible assets		7,383			7,418			7,444			7,470			7,477

Tangible common equity	$	12,773		$	12,028		$	11,893		$	11,578		$	11,565


Add:
Regulatory adjustments		698			975			901			738			692

Tier 1 common equity (Basel I)	$	13,471		$	13,003		$	12,794		$	12,316		$	12,257


Total assets	$	182,341		$	181,050		$	182,735		$	180,837		$	183,872
Less:
Intangible assets		7,383			7,418			7,444			7,470			7,477

Tangible assets (3)	$	174,958		$	173,632		$	175,291		$	173,367		$	176,395


Total risk-weighted assets (1)	$	136,366		$	138,303		$	138,265		$	135,914		$	136,367

Tangible common equity as a percentage of tangible assets		7.3	%		6.9	%		6.8	%		6.7	%		6.6	%
Tier 1 common equity as a percentage of risk-weighted assets		9.9			9.4			9.3			9.1			9.0


Tangible common equity	$	12,773		$	12,028		$	11,893		$	11,578		$	11,565

Outstanding shares at end of period (in thousands)		706,620			704,925			702,995			701,440			699,728

Tangible book value per common share (3)	$	18.08		$	17.06		$	16.92		$	16.50		$	16.53

(1)

Risk-weighted assets are determined based on regulatory capital requirements. Under the regulatory framework for determining risk-weighted assets each asset class is assigned a risk-weighting of 0%, 20%, 50% or 100% based on the underlying risk of the specific asset class. In addition, off-balance sheet exposures are first converted to a balance sheet equivalent amount and subsequently assigned to one of the four risk-weightings.

(2)

Tangible common equity, Tier 1 common equity and related ratios are non-GAAP measures. BB&T’s management uses these measures to assess the quality of capital and believes that investors may find them useful in their analysis of the Corporation. These capital measures are not necessarily comparable to similar capital measures that may be presented by other companies.

(3)

At September 30, 2013, the calculation of tangible book value per common share was revised to be based upon tangible common equity whereas this calculation was previously based upon Tier 1 common equity. In addition, the calculation of tangible assets was revised to no longer include deferred taxes on intangible assets. Previously presented information has been revised to conform to the current presentation.


BB&T Corporation

Selected Items & Additional Information

(Dollars in millions, except per share data)


		Favorable (Unfavorable)
Selected Items		Pre-Tax			After-Tax

Fourth Quarter 2013
Gain on sale of subsidiary	Other income	$	31		$	19

Third Quarter 2013
Income tax adjustment	Provision for income taxes		N/A			(235	)
Owned real estate and related adjustments	Other expense		(11	)		(7	)

Second Quarter 2013
None			N/A			N/A

First Quarter 2013
Income tax adjustment	Provision for income taxes		N/A			(281	)

Fourth Quarter 2012
None			N/A			N/A

Third Quarter 2012
Mortgage repurchase expense adjustments (1)	Loan-related expense		(28	)		(17	)

Second Quarter 2012
Leveraged lease tax benefit	Provision for income taxes		N/A			12

First Quarter 2012
Tax related items, net (2)	Other income		(42	)		(50	)
Leveraged lease write-downs	Other expense		(15	)		(10	)


	As of / Quarter Ended
	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Selected Mortgage Banking Information
Income statement impact of mortgage servicing rights valuation:
MSRs fair value increase (decrease)	$	52		$	22		$	101		$	56		$	35
MSRs hedge gains (losses)		(48	)		(17	)		(86	)		(46	)		(20	)

Net	$	4		$	5		$	15		$	10		$	15

Residential mortgage loan originations	$	5,344		$	8,327		$	9,260		$	8,665		$	8,570

Residential mortgage servicing portfolio (3):
Loans serviced for others		87,434			84,025			80,846			76,830			73,769
Bank-owned loans serviced		25,401			26,782			26,211			26,962			27,593
Total servicing portfolio		112,835			110,807			107,057			103,792			101,362

Weighted-average coupon rate		4.24	%		4.24	%		4.32	%		4.45	%		4.59	%
Weighted-average servicing fee		0.298			0.301			0.306			0.312			0.319

Selected Miscellaneous Information
Derivatives notional amount	$	59,318		$	62,771		$	64,111		$	75,702		$	72,796
Fair value of derivatives		(106	)		(160	)		(21	)		(85	)		13
Accumulated comprehensive income related to securities, net of tax (4)		(289	)		(163	)		(81	)		255			329

Common stock prices:
High		37.42			36.59			34.37			31.78			33.89
Low		32.65			33.30			29.18			29.83			26.86
End of period		37.32			33.75			33.88			31.39			29.11

Banking offices		1,825			1,824			1,851			1,842			1,832
ATMs		2,935			2,941			2,885			2,851			2,826
FTEs		33,696			33,677			33,869			33,952			33,981

(1)	Related to better identification of unrecoverable costs associated with investor-owned loans.

(2)	Includes write-downs of investments in affordable housing and other tax adjustments.

(3)	Amounts reported are unpaid principal balance.

(4)	Includes the impact of the FDIC loss sharing agreements on the covered securities.


BB&T Corporation

Non-GAAP Reconciliations

(Dollars in millions, except per share data, shares in thousands)


	Quarter Ended
Efficiency and Fee Income Ratios (1)	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Efficiency ratio - GAAP		61.1	%		62.4	%		59.9	%		57.5	%		58.8	%
Effect of securities gains (losses), net		0.1			—			0.5			0.5			—
Effect of merger-related and restructuring charges, net		(0.4	)		(0.2	)		(1.1	)		(0.2	)		(0.5	)
Effect of gain on sale of subsidiary		0.8			—			—			—			—
Effect of FDIC loss share accounting		(0.2	)		—			(0.2	)		0.5			(0.1	)
Effect of foreclosed property expense		(0.5	)		(0.6	)		(0.5	)		(0.8	)		(1.9	)
Effect of owned real estate adjustments		—			(0.5	)		—			—			—
Effect of amortization of intangibles		(1.0	)		(1.0	)		(1.0	)		(1.1	)		(1.0	)
Efficiency ratio - reported		59.9			60.1			57.6			56.4			55.3

Fee income ratio - GAAP		41.4	%		38.4	%		41.9	%		40.7	%		40.3	%
Effect of securities gains (losses), net		(0.1	)		—			(0.5	)		(0.5	)		—
Effect of gain on sale of subsidiary		(0.8	)		—			—			—			—
Effect of FDIC loss share accounting		3.0			3.2			3.2			2.7			3.8
Fee income ratio - reported		43.5			41.6			44.6			42.9			44.1


										Year-to-Date Dec. 31
										2013			2012

Efficiency ratio - GAAP											60.2	%		59.3	%
Effect of securities gains (losses), net											0.3			(0.1	)
Effect of merger-related and restructuring charges, net											(0.5	)		(0.7	)
Effect of gain on sale of subsidiary											0.2			—
Effect of mortgage repurchase expense adjustments											—			(0.1	)
Effect of FDIC loss share accounting											—			0.1
Effect of affordable housing investments write-down											—			(0.2	)
Effect of foreclosed property expense											(0.6	)		(2.7	)
Effect of leveraged lease sale/write-downs											—			(0.2	)
Effect of owned real estate adjustments											(0.1	)		—
Effect of amortization of intangibles											(1.0	)		(1.1	)
Efficiency ratio - reported											58.5			54.3

Fee income ratio - GAAP											40.6	%		38.9	%
Effect of securities gains (losses), net											(0.3	)		0.1
Effect of gain on sale of subsidiary											(0.2	)		—
Effect of affordable housing investments write-down											—			0.2
Effect of FDIC loss share accounting											3.1			3.3
Fee income ratio - reported											43.2			42.5


	Quarter Ended
Return on Average Tangible Common Shareholders’ Equity (2)	Dec. 31 2013			Sept. 30 2013			June 30 2013			March 31 2013			Dec. 31 2012

Net income available to common shareholders	$	537		$	268		$	547		$	210		$	506
Plus: Amortization of intangibles, net of tax		16			16			17			17			17

Tangible net income available to common shareholders	$	553		$	284		$	564		$	227		$	523


Average common shareholders’ equity	$	19,657		$	19,491		$	19,293		$	19,138		$	19,160
Less: Average intangible assets		7,397			7,431			7,456			7,464			7,463

Average tangible common shareholders’ equity	$	12,260		$	12,060		$	11,837		$	11,674		$	11,697

Return on average tangible common shareholders’ equity		17.91	%		9.33	%		19.12	%		7.87	%		17.80	%


Basel III Common Equity Tier 1 Ratio - Preliminary													Dec. 31 2013

Tier 1 common equity under Basel 1													$	13,471
Adjustments														98

Common equity Tier 1 under Basel III definition													$	13,569

Estimated risk-weighted assets under Basel III definition													$	142,077

Basel III common equity Tier 1 ratio														9.6	%

(1)	BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.

(2)	BB&T’s management believes investors use this measure to evaluate the return on average common shareholders’ equity without the impact of intangible assets and their related amortization.


BB&T Corporation

Non-GAAP Reconciliations

(Dollars in millions, except per share data, shares in thousands)


	Quarter Ended March 31, 2013								Quarter Ended September 30, 2013
Certain Performance Measures (1)	GAAP			Tax Adj.		Adjusted			GAAP			Tax Adj.		Adjusted

Net income available to common shareholders	$	210		$	281	$	491		$	268		$	235	$	503
Weighted average number of diluted common shares		711,020			—		711,020			716,101			—		716,101
Diluted EPS	$	0.29				$	0.69		$	0.37				$	0.70

Net income	$	256		$	281	$	537		$	309		$	235	$	544
Average assets		181,358			100		181,458			180,363			3		180,366
Return on average assets		0.57	%				1.20	%		0.68	%				1.20	%

Net income	$	256		$	281	$	537		$	309		$	235	$	544
Average risk-weighted assets		136,141			100		136,241			138,276			3		138,279
Return on average risk-weighted assets		0.76	%				1.60	%		0.89	%				1.56	%

Net income available to common shareholders	$	210		$	281	$	491		$	268		$	235	$	503
Average common shareholders’ equity		19,138			100		19,238			19,491			3		19,494
Return on average common shareholders’ equity		4.44	%				10.34	%		5.44	%				10.22	%

Tangible net income available to common shareholders	$	227		$	281	$	508		$	284		$	235	$	519
Average tangible common shareholders’ equity		11,674			100		11,774			12,060			3		12,063
Return on average tangible common shareholders’ equity		7.87	%				17.48	%		9.33	%				17.05	%

(1)	BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.

TRUIST FINANCIAL CORP - FORM 8-K - EX-99.2 - January 15, 2014

Attached files

TRUIST FINANCIAL CORP Reports