Professional Documents
Culture Documents
Page
Financial Highlights 3
Financial Highlights - Five Quarter Trend 4
Consolidated Statements of Income 5
Consolidated Statements of Income - Five Quarter Trend 6
Consolidated Balance Sheets 7
Consolidated Balance Sheets - Five Quarter Trend 8
Average Balance Sheets 9
Average Balance Sheets - Five Quarter Trend 10
Average Balances and Rates - Quarters 11-12
Average Balances and Rates - Year-To-Date 13
Credit Quality 14-16
Credit Quality - Supplemental Schedules
Supplemental Commercial Real Estate Loan Portfolio Information 17
Supplemental Residential Mortgage Portfolio Information 18
Supplemental Troubled Debt Restructurings Information 19
Capital Information - Five Quarter Trend 20
Selected Growth Rates Adjusted for Purchase
Acquisitions and Selected Items 21
Selected Items & Additional Information 22
NON-GAAP Reconciliation Table 23
2
BB&T Corporation
Financial Highlights
(Dollars in millions, except per share data, shares in thousands)
End of period shares outstanding (in thousands) 693,560 687,446 0.9 693,560 687,446 0.9
Weighted average shares (in thousands)
Basic 693,017 665,408 4.1 691,982 609,698 13.5
Diluted 701,535 672,457 4.3 700,551 615,307 13.9
Performance Ratios
Return on average assets .56 % .40 % .53 % .60 %
Return on average common shareholders' equity 4.91 3.90 4.84 5.09
Net interest margin - taxable equivalent 4.09 3.68 4.03 3.61
Fee income ratio (2) 42.3 41.8 40.7 43.4
Efficiency ratio (2) 54.1 52.0 53.4 50.2
Credit Quality (including amounts related to covered loans and
covered foreclosed property)
Nonperforming assets as a percentage of
Total assets 2.81 % 2.48 % 2.81 % 2.48 %
Loans and leases plus foreclosed property 4.11 3.78 4.11 3.78
Net charge-offs as a percentage of average
loans and leases 3.31 1.71 2.55 1.70
Allowance for loan and lease losses as a percentage
of loans and leases held for investment 2.56 2.29 2.56 2.29
Ratio of allowance for loan and lease losses to
nonperforming loans and leases held for investment 1.32 X .93 X 1.32 X .93 X
Average Balances
Total assets $ 155,666 $ 157,451 (1.1) % $ 159,723 $ 151,969 5.1 %
Securities available for sale 23,277 31,511 (26.1) 28,156 30,511 (7.7)
Loans and leases 104,755 103,334 1.4 104,396 100,892 3.5
Deposits 103,505 107,310 (3.5) 107,171 98,592 8.7
Client deposits 99,914 96,349 3.7 102,272 88,848 15.1
Shareholders' equity 17,035 15,537 9.6 16,864 16,206 4.1
Period-End Balances
Total assets $ 157,230 $ 165,328 (4.9) % $ 157,230 $ 165,328 (4.9) %
Securities available for sale 24,497 33,477 (26.8) 24,497 33,477 (26.8)
Loans and leases 106,014 107,027 (0.9) 106,014 107,027 (0.9)
Deposits 106,419 114,510 (7.1) 106,419 114,510 (7.1)
Client deposits 99,399 103,725 (4.2) 99,399 103,725 (4.2)
Shareholders' equity 16,787 16,142 4.0 16,787 16,142 4.0
Capital Ratios (3)
Risk-based
Tier 1 11.7 % 11.1 % 11.7 % 11.1 %
Total 15.7 15.6 15.7 15.6
Leverage 9.3 8.5 9.3 8.5
Tangible common equity (1) 7.0 6.1 7.0 6.1
Tier 1 common equity to risk-weighted assets (1) 9.0 8.4 9.0 8.4
Applicable ratios are annualized.
(1) Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to
calculate these ratios. See the calculations and management's reasons for using these measures on page 20 of this supplement.
(2) Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impacts of FDIC loss
share accounting, and other selected items as detailed on page 22 of this supplement. See Non-GAAP reconciliations.
(3) Current quarter regulatory capital information is preliminary.
NM - not meaningful.
3
BB&T Corporation
Financial Highlights - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)
Quarter Ended
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
2010 2010 2010 2009 2009
Summary Income Statement
Interest income $ 1,796 $ 1,852 $ 1,813 $ 1,853 $ 1,776
Interest expense 449 460 466 498 509
Net interest income - taxable equivalent 1,347 1,392 1,347 1,355 1,267
Less: Taxable-equivalent adjustment 33 32 33 32 30
Net interest income 1,314 1,360 1,314 1,323 1,237
Provision for credit losses 770 650 575 725 709
Net interest income after provision for credit losses 544 710 739 598 528
Noninterest income 1,110 1,039 844 970 940
Noninterest expense 1,408 1,500 1,341 1,361 1,320
Income before income taxes 246 249 242 207 148
Provision for income taxes 27 25 48 13 (9)
Net income 219 224 194 194 157
Noncontrolling interest 9 14 6 9 5
Net income available to common shareholders 210 210 188 185 152
Per Common Share Data
Earnings
Basic $ .30 $ .30 $ .27 $ .27 $ .23
Diluted .30 .30 .27 .27 .23
Cash dividends declared .15 .15 .15 .15 .15
Book value 24.11 24.07 23.80 23.47 23.41
Tangible book value (1) 15.25 14.93 14.67 14.44 14.10
End of period shares outstanding (in thousands) 693,560 692,777 691,869 689,750 687,446
Weighted average shares (in thousands)
Basic 693,017 692,113 690,792 688,590 665,408
Diluted 701,535 701,322 698,675 696,038 672,457
Performance Ratios
Return on average assets .56 % .56 % .48 % .47 % .40 %
Return on average common shareholders' equity 4.91 5.01 4.59 4.52 3.90
Net interest margin - taxable equivalent 4.09 4.12 3.88 3.80 3.68
Fee income ratio (2) 42.3 40.8 39.0 41.2 41.8
Efficiency ratio (2) 54.1 53.7 52.4 51.4 52.0
Credit Quality (including amounts related to covered
loans and covered foreclosed property)
Nonperforming assets as a percentage of
Total assets 2.81 % 2.90 % 2.84 % 2.65 % 2.48 %
Loans and leases plus foreclosed property 4.11 4.24 4.38 4.07 3.78
Net charge-offs as a percentage of average
loans and leases 3.31 2.48 1.84 1.83 1.71
Allowance for loan and lease losses as a percentage
of loans and leases held for investment 2.56 2.66 2.65 2.51 2.29
Ratio of allowance for loan and lease losses to
nonperforming loans and leases held for investment 1.32 X .98 X .94 X .96 X .93 X
Average Balances
Total assets $ 155,666 $ 159,786 $ 163,807 $ 164,719 $ 157,451
Securities available for sale 23,277 28,309 32,989 33,351 31,511
Loans and leases 104,755 103,964 104,468 105,869 103,334
Deposits 103,505 107,060 111,031 113,622 107,310
Client deposits 99,914 102,203 104,754 105,426 96,349
Shareholders' equity 17,035 16,925 16,627 16,336 15,537
Period-End Balances
Total assets $ 157,230 $ 155,083 $ 163,700 $ 165,764 $ 165,328
Securities available for sale 24,497 23,662 32,654 33,253 33,477
Loans and leases 106,014 104,719 104,401 106,207 107,027
Deposits 106,419 104,451 113,723 114,965 114,510
Client deposits 99,399 101,115 104,109 106,760 103,725
Shareholders' equity 16,787 16,740 16,528 16,241 16,142
Capital Ratios (3)
Risk-based
Tier 1 11.7 % 11.7 % 11.6 % 11.5 % 11.1 %
Total 15.7 15.8 15.9 15.8 15.6
Leverage 9.3 8.9 8.7 8.5 8.5
Tangible common equity (1) 7.0 7.0 6.4 6.2 6.1
Tier 1 common equity to risk-weighted assets (1) 9.0 8.9 8.6 8.5 8.4
Applicable ratios are annualized.
(1) Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used
in the SCAP assessment to calculate these ratios. See the calculations and management's reasons for using these measures on
page 20 of this supplement.
(2) Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring
charges, the impacts of FDIC loss share accounting, and other selected items as detailed on page 22 of this supplement.
See Non-GAAP reconciliations.
(3) Current quarter regulatory capital information is preliminary.
4
BB&T Corporation
Consolidated Statements of Income
(Dollars in millions, except per share data, shares in thousands)
Interest Income
Interest and fees on loans and leases $ 1,549 $ 1,414 $ 135 9.5 % $ 4,514 $ 4,072 $ 442 10.9 %
Interest and dividends on securities 207 327 (120) (36.7) 834 978 (144) (14.7)
Interest on other earning assets 6 4 2 50.0 12 14 (2) (14.3)
Total interest income 1,762 1,745 17 1.0 5,360 5,064 296 5.8
Interest Expense
Interest on deposits 225 311 (86) (27.7) 725 977 (252) (25.8)
Interest on federal funds purchased, securities sold under
repurchase agreements and short-term borrowed funds 5 11 (6) (54.5) 16 51 (35) (68.6)
Interest on long-term debt 218 186 32 17.2 631 515 116 22.5
Total interest expense 448 508 (60) (11.8) 1,372 1,543 (171) (11.1)
Net interest income 1,314 1,237 77 6.2 3,988 3,521 467 13.3
Provision for credit losses 770 709 61 8.6 1,995 2,086 (91) (4.4)
Net interest income after provision for credit losses 544 528 16 3.0 1,993 1,435 558 38.9
Noninterest income
Insurance income 252 254 (2) (0.8) 792 787 5 .6
Service charges on deposits 147 180 (33) (18.3) 475 504 (29) (5.8)
Mortgage banking income 184 144 40 27.8 383 516 (133) (25.8)
Investment banking and brokerage fees and commissions 85 89 (4) (4.5) 255 263 (8) (3.0)
Other nondeposit fees and commissions 74 59 15 25.4 202 165 37 22.4
Checkcard fees 70 59 11 18.6 201 165 36 21.8
Bankcard fees and merchant discounts 45 41 4 9.8 130 115 15 13.0
Trust and investment advisory revenues 40 36 4 11.1 117 101 16 15.8
Income from bank-owned life insurance 30 24 6 25.0 92 72 20 27.8
FDIC loss share income, net (43) 3 (46) NM (116) 3 (119) NM
Securities gains, net 239 31 208 NM 455 200 255 127.5
Other income (13) 20 (33) (165.0) 7 73 (66) (90.4)
Total noninterest income 1,110 940 170 18.1 2,993 2,964 29 1.0
Noninterest Expense
Personnel expense 642 644 (2) (0.3) 1,937 1,867 70 3.7
Foreclosed property expense 167 118 49 41.5 585 214 371 173.4
Occupancy and equipment expense 157 149 8 5.4 453 406 47 11.6
Professional services 84 68 16 23.5 242 185 57 30.8
Regulatory charges 61 44 17 38.6 152 183 (31) (16.9)
Loan processing expenses 53 38 15 39.5 135 101 34 33.7
Amortization of intangibles 30 29 1 3.4 94 78 16 20.5
Merger-related and restructuring charges, net 10 18 (8) (44.4) 65 29 36 124.1
Other expenses 204 212 (8) (3.8) 586 507 79 15.6
Total noninterest expense 1,408 1,320 88 6.7 4,249 3,570 679 19.0
Earnings
Income before income taxes 246 148 98 66.2 737 829 (92) (11.1)
Provision for income taxes 27 (9) 36 NM 100 146 (46) (31.5)
Net Income 219 157 62 39.5 637 683 (46) (6.7)
5
BB&T Corporation
Consolidated Statements of Income - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)
Quarter Ended
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
2010 2010 2010 2009 2009
Interest Income
Interest and fees on loans and leases $ 1,549 $ 1,525 $ 1,440 $ 1,475 $ 1,414
Interest and dividends on securities 207 291 336 341 327
Interest on other earning assets 6 3 3 4 4
Total interest income 1,762 1,819 1,779 1,820 1,745
Interest Expense
Interest on deposits 225 241 259 294 311
Interest on federal funds purchased, securities sold under
repurchase agreements and short-term borrowed funds 5 6 5 7 11
Interest on long-term debt 218 212 201 196 186
Total interest expense 448 459 465 497 508
Noninterest income
Insurance income 252 287 253 260 254
Service charges on deposits 147 164 164 186 180
Mortgage banking income 184 110 89 142 144
Investment banking and brokerage fees and commissions 85 91 79 83 89
Other nondeposit fees and commissions 74 63 65 64 59
Checkcard fees 70 70 61 62 59
Bankcard fees and merchant discounts 45 45 40 41 41
Trust and investment advisory revenues 40 39 38 38 36
Income from bank-owned life insurance 30 31 31 25 24
FDIC loss share income, net (43) (78) 5 11 3
Securities gains (losses), net 239 219 (3) (1) 31
Other income (13) (2) 22 59 20
Total noninterest income 1,110 1,039 844 970 940
Noninterest Expense
Personnel expense 642 649 646 650 644
Foreclosed property expense 167 240 178 142 118
Occupancy and equipment expense 157 158 138 173 149
Professional services 84 86 72 77 68
Regulatory charges 61 46 45 47 44
Loan processing expenses 53 47 35 34 38
Amortization of intangibles 30 32 32 36 29
Merger-related and restructuring charges, net 10 38 17 9 18
Other expenses 204 204 178 193 212
Total noninterest expense 1,408 1,500 1,341 1,361 1,320
Earnings
Income before income taxes 246 249 242 207 148
Provision for income taxes 27 25 48 13 (9)
Net Income 219 224 194 194 157
Noncontrolling interest 9 14 6 9 5
Net income available to common shareholders $ 210 $ 210 $ 188 $ 185 $ 152
6
BB&T Corporation
Consolidated Balance Sheets
(Dollars in millions)
Assets
Cash and due from banks $ 1,225 $ 1,292 $ (67) (5.2) %
Interest-bearing deposits with banks 944 579 365 63.0
Federal funds sold and securities purchased under
resale agreements or similar arrangements 285 520 (235) (45.2)
Segregated cash due from banks 269 286 (17) (5.9)
Trading securities at fair value 568 686 (118) (17.2)
Securities available for sale at fair value (1) 24,497 33,477 (8,980) (26.8)
Loans and leases:
Commercial loans and leases 48,131 49,591 (1,460) (2.9)
Direct retail loans 13,828 14,482 (654) (4.5)
Sales finance loans 6,972 6,493 479 7.4
Revolving credit loans 2,065 1,929 136 7.1
Mortgage loans 16,316 15,463 853 5.5
Specialized lending 8,047 7,497 550 7.3
Other acquired loans 69 141 (72) (51.1)
Total loans and leases held for investment (excluding
covered loans) 95,428 95,596 (168) (0.2)
Covered loans 6,753 8,305 (1,552) (18.7)
Total loans and leases held for investment 102,181 103,901 (1,720) (1.7)
7
BB&T Corporation
Consolidated Balance Sheets - Five Quarter Trend
(Dollars in millions)
As of
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
2010 2010 2010 2009 2009
Assets
Cash and due from banks $ 1,225 $ 1,270 $ 1,265 $ 1,584 $ 1,292
Interest-bearing deposits with banks 944 931 574 667 579
Federal funds sold and securities purchased under
resale agreements or similar arrangements 285 308 399 398 520
Segregated cash due from banks 269 255 269 270 286
Trading securities at fair value 568 587 651 636 686
Securities available for sale at fair value (1) 24,497 23,662 32,654 33,253 33,477
Loans and leases:
Commercial loans and leases 48,131 49,054 49,304 49,820 49,591
Direct retail loans 13,828 13,939 14,055 14,283 14,482
Sales finance loans 6,972 6,863 6,555 6,290 6,493
Revolving credit loans 2,065 2,024 1,981 2,016 1,929
Mortgage loans 16,316 15,452 15,498 15,435 15,463
Specialized lending 8,047 7,954 7,394 7,670 7,497
Other acquired loans 69 85 99 123 141
Total loans and leases held for investment (excluding
covered loans) 95,428 95,371 94,886 95,637 95,596
Covered loans 6,753 7,177 7,458 8,019 8,305
Total loans and leases held for investment 102,181 102,548 102,344 103,656 103,901
8
BB&T Corporation
Average Balance Sheets
(Dollars in millions)
Other earning assets 2,951 2,331 620 26.6 2,913 2,169 744 34.3
Loans and leases
Commercial loans and leases 48,620 49,916 (1,296) (2.6) 49,024 50,294 (1,270) (2.5)
Direct retail loans 13,867 14,507 (640) (4.4) 14,008 14,849 (841) (5.7)
Sales finance loans 6,906 6,528 378 5.8 6,682 6,391 291 4.6
Revolving credit loans 2,048 1,886 162 8.6 2,013 1,819 194 10.7
Mortgage loans 15,828 15,515 313 2.0 15,625 16,088 (463) (2.9)
Specialized lending 8,046 7,542 504 6.7 7,725 7,009 716 10.2
Other acquired loans 73 75 (2) (2.7) 93 25 68 NM
Total loans and leases held for investment (excluding
covered loans) 95,388 95,969 (581) (0.6) 95,170 96,475 (1,305) (1.4)
Covered loans 6,957 4,380 2,577 58.8 7,251 1,476 5,775 NM
Total loans and leases held for investment 102,345 100,349 1,996 2.0 102,421 97,951 4,470 4.6
Loans held for sale 2,410 2,985 (575) (19.3) 1,975 2,941 (966) (32.8)
Total loans and leases 104,755 103,334 1,421 1.4 104,396 100,892 3,504 3.5
Total earning assets 130,983 137,176 (6,193) (4.5) 135,465 133,572 1,893 1.4
Non-earning assets 24,683 20,275 4,408 21.7 24,258 18,397 5,861 31.9
Total assets $ 155,666 $ 157,451 $ (1,785) (1.1) % $ 159,723 $ 151,969 $ 7,754 5.1 %
Fed funds purchased, repos and other borrowings 7,355 9,964 (2,609) (26.2) 8,879 13,808 (4,929) (35.7)
Long-term debt 21,833 19,867 1,966 9.9 21,573 18,362 3,211 17.5
Other liabilities 5,938 4,773 1,165 24.4 5,236 5,001 235 4.7
Total liabilities 138,631 141,914 (3,283) (2.3) 142,859 135,763 7,096 5.2
Shareholders' equity 17,035 15,537 1,498 9.6 16,864 16,206 658 4.1
Total liabilities and shareholders' equity $ 155,666 $ 157,451 $ (1,785) (1.1) % $ 159,723 $ 151,969 $ 7,754 5.1 %
Average balances exclude basis adjustments for fair value hedges.
NM - not meaningful.
9
BB&T Corporation
Average Balance Sheets - Five Quarter Trend
(Dollars in millions)
Quarter Ended
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
2010 2010 2010 2009 2009
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE) $ 54 $ 554 $ 1,636 $ 2,162 $ 1,180
Mortgage-backed securities issued by GSE 18,636 23,080 26,558 26,332 25,892
States and political subdivisions 2,019 2,077 2,107 2,141 2,190
Non-agency mortgage-backed securities 1,152 1,214 1,311 1,361 1,411
Other securities 209 192 202 194 252
Covered securities 1,207 1,192 1,175 1,161 586
Total securities 23,277 28,309 32,989 33,351 31,511
Fed funds purchased, repos and other borrowings 7,355 9,105 10,207 8,584 9,964
Long-term debt 21,833 21,660 21,221 21,232 19,867
Other liabilities 5,938 5,036 4,721 4,945 4,773
Total liabilities 138,631 142,861 147,180 148,383 141,914
Total liabilities and shareholders' equity $ 155,666 $ 159,786 $ 163,807 $ 164,719 $ 157,451
Average balances exclude basis adjustments for fair value hedges.
10
BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
Quarter Ended
September 30, 2010 June 30, 2010
Interest Interest
Average Income/ Yields/ Average Income/ Yields/
Balances (1) Expense Rates (2) Balances (1) Expense Rates (2)
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE) $ 54 $ - 4.65 % $ 554 $ 5 3.68 %
Mortgage-backed securities issued by GSE 18,636 150 3.22 23,080 217 3.77
States and political subdivisions 2,019 29 5.55 2,077 28 5.45
Non-agency mortgage-backed securities 1,152 17 5.90 1,214 18 5.84
Other securities 209 1 2.74 192 1 2.43
Covered securities 1,207 23 7.61 1,192 35 11.65
Total securities 23,277 220 3.78 28,309 304 4.30
Fed funds purchased, repos and other borrowings 7,355 6 .32 9,105 7 .31
Long-term debt 21,833 218 3.98 21,660 212 3.92
Total interest-bearing liabilities 112,594 449 1.58 118,479 460 1.56
Net interest income/ net interest margin $ 1,347 4.09 % $ 1,392 4.12 %
Taxable-equivalent adjustment $ 33 $ 32
11
BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)
Quarter Ended
March 31, 2010 December 31, 2009 September 30, 2009
Interest Interest Interest
Average Income/ Yields/ Average Income/ Yields/ Average Income/ Yields/
Balances (1) Expense Rates (2) Balances (1) Expense Rates (2) Balances (1) Expense Rates (2)
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE) $ 1,636 $ 15 3.61 % $ 2,162 $ 19 3.59 % $ 1,180 $ 12 3.75 %
Mortgage-backed securities issued by GSE 26,558 254 3.82 26,332 255 3.87 25,892 256 3.97
States and political subdivisions 2,107 28 5.38 2,141 29 5.42 2,190 31 5.52
Non-agency mortgage-backed securities 1,311 19 5.80 1,361 20 5.81 1,411 20 5.81
Other securities 202 1 2.13 194 2 3.73 252 2 2.75
Covered securities 1,175 34 11.60 1,161 33 11.43 586 17 11.46
Total securities 32,989 351 4.26 33,351 358 4.29 31,511 338 4.28
Total earning assets 140,138 1,813 5.22 141,875 1,853 5.20 137,176 1,776 5.15
Fed funds purchased, repos and other borrowings 10,207 6 .23 8,584 8 .34 9,964 12 .48
Long-term debt 21,221 201 3.82 21,232 196 3.70 19,867 186 3.73
Total interest-bearing liabilities 123,995 466 1.52 124,616 498 1.59 119,752 509 1.69
Net interest income/ net interest margin (3) $ 1,347 3.88 % $ 1,355 3.80 % $ 1,267 3.68 %
Taxable-equivalent adjustment $ 33 $ 32 $ 30
12
BB&T Corporation
Average Balances and Rates - Year-To-Date
(Dollars in millions)
Year-to-Date
September 30, 2010 September 30, 2009
Interest Interest
Average Income/ Yields/ Average Income/ Yields/
Balances (1) Expense Rates (2) Balances (1) Expense Rates (2)
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE) $ 742 $ 20 3.65 % $ 1,144 $ 35 4.02 %
Mortgage-backed securities issued by GSE 22,729 621 3.64 25,111 797 4.23
States and political subdivisions 2,067 85 5.46 2,243 97 5.75
Non-agency mortgage-backed securities 1,225 54 5.85 1,477 64 5.82
Other securities 201 3 2.44 339 10 3.93
Covered securities 1,192 92 10.27 197 17 11.33
Total securities 28,156 875 4.14 30,511 1,020 4.46
Fed funds purchased, repos and other borrowings 8,879 19 .28 13,808 55 .54
Long-term debt 21,573 631 3.91 18,362 515 3.74
Total interest-bearing liabilities 118,314 1,375 1.55 115,196 1,547 1.79
Net interest income/ net interest margin $ 4,086 4.03 $ 3,608 3.61
Taxable-equivalent adjustment $ 98 $ 87
13
BB&T Corporation
Credit Quality
(Dollars in millions)
Total loans 30-89 days past due (excluding covered loans) (6) $ 1,712 $ 1,530 $ 1,601 $ 1,686 $ 1,692
(1) Covered and other acquired loans are considered to be performing due to the application of the accretion method. Covered loans
that are contractually past due are noted in the footnotes below.
(2) Excludes foreclosed real estate totaling $276 million, $176 million, $181 million, $160 million and $151 million at September 30, 2010,
June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively, that are covered by FDIC loss sharing
agreements.
(3) Excludes TDRs that are nonperforming totaling $489 million, $480 million, $333 million, $248 million and $108 million at September 30,
2010, June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively. These amounts are included
in total nonperforming assets. Amounts also exclude restructured covered and other acquired loans accounted for under the
accretion method.
(4) Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.
(5) Excludes loans past due 90 days or more that are covered by FDIC loss sharing agreements totaling $1.3 billion at September 30, 2010,
$1.5 billion at June 30, 2010, $1.4 billion at March 31, 2010 and December 31, 2009 and $945 million at September 30, 2009.
(6) Excludes loans totaling $329 million, $429 million, $356 million, $391 million and $564 million past due 30-89 days at September 30, 2010,
June 30,2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively, that are covered by FDIC loss sharing agreements.
(7) Includes a $207 million reduction from loans sold during the third quarter of 2010 in connection with BB&T's NPA disposition strategy.
Includes a $419 million reduction from loans sold during the second quarter of 2010 in connection with BB&T's NPA disposition strategy.
(8) BB&T revised its nonaccrual policy related to FHA/VA guaranteed mortgage loans during the second quarter of 2010. The change in
policy resulted in a decrease in nonaccrual mortgage loans and an increase in mortgage loans 90 days past due and still accruing
of approximately $79 million. During the fourth quarter of 2009, BB&T revised its policy related to the reclassification of mortgage
loans from nonaccrual to accrual status resulting in an increase of approximately $120 million in nonaccrual mortgage loans.
(9) Includes mortgage loans past due 90 days or more that are government guaranteed totaling $119 million, $82 million, $7 million, $8 million
and $8 million at September 30, 2010, June 30,2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively.
Includes mortgage loans past due 30-89 days that are government guaranteed totaling $74 million, $42 million, $24 million, $23 million,
and $20 million at September 30, 2010, June 30,2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively.
Past due mortgage loans held for sale are also included in these categories.
14
BB&T Corporation
Credit Quality
(Dollars in millions)
Recoveries
Commercial loans and leases (1) 19 8 7 9 5
Direct retail loans 7 6 12 7 4
Sales finance loans 2 2 3 2 3
Revolving credit loans 4 4 4 3 3
Mortgage loans (2) 1 1 1 2 2
Specialized lending 6 8 7 6 5
Total recoveries 39 29 34 29 22
Net charge-offs (873) (642) (475) (488) (446)
Other changes - (14) (13) (43) 70
Ending balance $ 2,650 $ 2,753 $ 2,759 $ 2,672 $ 2,478
As of/For the
Nine Months Ended
September 30,
2010 2009
Recoveries
Commercial loans and leases (1) 34 12
Direct retail loans 25 12
Sales finance loans 7 7
Revolving credit loans 12 9
Mortgage loans (2) 3 3
Specialized lending 21 17
Total recoveries 102 60
Net charge-offs (1,990) (1,285)
Other changes (27) 70
Ending balance $ 2,650 $ 2,478
(1) Includes net charge-offs of $431 million and $7 million in commercial loans and leases during the third and second quarters of 2010, respectively,
in connection with BB&T's NPA disposition strategy.
(2) Includes net charge-offs of $1 million and $141 million in mortgage loans during the third and second quarters of 2010, respectively, in connection
with BB&T's NPA disposition strategy.
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BB&T Corporation
Credit Quality
As of/For the
Nine Months Ended
September 30,
2010 2009
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BB&T Corporation
Credit Quality - Supplemental Schedules
(Dollars in millions, except average loan and average client size)
Nonaccrual loans and leases as a percentage of category 19.73 % 19.76 % 14.63 % 19.47 %
Gross charge-offs as a percentage of category:
Year-to-Date 7.70 17.75 9.70 14.47
Quarter-to-Date 10.57 30.04 18.97 24.11
Nonaccrual loans and leases as a percentage of category 2.17 % 15.48 % 3.76 % 5.20 %
Gross charge-offs as a percentage of category:
Year-to-Date 2.35 9.61 2.80 3.79
Quarter-to-Date 4.38 21.15 6.12 8.11
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BB&T Corporation
Credit Quality - Supplemental Schedules
(Dollars in millions, except average loan size)
Nonaccrual loans and leases as a percentage of category 1.77 4.98 8.64 7.60 2.62
Gross charge-offs as a percentage of category:
Year-to-Date 1.99 5.37 5.29 8.85 2.89
Quarter-to-Date .98 2.17 4.49 3.11 1.34
SUPPLEMENTAL DIRECT RETAIL 1-4 FAMILY AND LOT/LAND REAL ESTATE PORTFOLIO INFORMATION (4)
Nonaccrual loans and leases as a percentage of category 6.74 1.48 .47 1.64
Gross charge-offs as a percentage of category:
Year-to-Date 7.75 1.56 1.49 2.28
Quarter-to-Date 8.19 1.47 1.45 2.24
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BB&T Corporation
Credit Quality - Supplemental Schedules
(Dollars in millions)
(1) Excludes restructured covered and other acquired loans accounted for under the accretion method.
(2) Past due performing restructurings are included in past due disclosures.
(3) Nonperforming restructurings are included in nonaccrual loan disclosures.
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BB&T Corporation
Capital Information - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)
As of / Quarter Ended
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
2010 2010 2010 2009 2009
Tangible book value per common share $ 15.25 $ 14.93 $ 14.67 $ 14.44 $ 14.10
Calculations of Tier 1 common equity and tangible assets and related measures:
Tangible common equity as a percentage of tangible assets 7.0 % 7.0 % 6.4 % 6.2 % 6.1 %
Tier 1 common equity as a percentage of risk-weighted assets 9.0 8.9 8.6 8.5 8.4
Outstanding shares at end of period (in thousands) 693,560 692,777 691,869 689,750 687,446
Tangible book value per common share $ 15.25 $ 14.93 $ 14.67 $ 14.44 $ 14.10
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BB&T Corporation
Selected Growth Rates Adjusted for Purchase Acquisitions and Selected Items
Average Balances
Noninterest income
Insurance income (2.3) (48.4) (1.2)
Service charges on deposits (21.4) (41.1) (12.5)
Investment banking and brokerage fees (4.5) (26.2) (3.8)
Mortgage banking income 15.9 192.6 (26.0)
Checkcard fees 14.8 - 14.9
Other nondeposit fees and commissions 23.3 69.3 18.1
Trust and investment advisory revenues 11.1 10.2 15.8
Bankcard fees and merchant discounts 9.8 - 13.0
Other income (12.0) 102.0 (13.0)
Noninterest expense
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BB&T Corporation
Selected Items & Additional Information
(Dollars in millions, except per share data)
Favorable (Unfavorable)
Selected Items Pre-Tax After-Tax
As of / Quarter Ended
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
2010 2010 2010 2009 2009
(1) Amounts recorded in fourth quarter 2009 that relate to third quarter 2009.
(2) Includes a $1 million and $2 million decrease due to a valuation adjustment for MSRs carried at the lower of cost or market at September 30,2010
and June 30, 2010, respectively.
(3) Includes the impact of the FDIC loss sharing agreements on the covered securities.
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BB&T Corporation
NON-GAAP Reconciliation Table
Quarter Ended
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
NON-GAAP Reconciliation Table 2010 2010 2010 2009 2009
Year-to-Date
September 30,
NON-GAAP Reconciliation Table 2010 2009
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