Form 8-K BB&T CORP For: Jan 22

January 22, 2015 6:01 AM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________

�

Form 8-K

Current Report

______________

�

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

�

January 22, 2015

Date of Report (Date of earliest event reported)

�

BB&T Corporation

(Exact name of registrant as specified in its charter)

�

Commission file number : 1-10853

______________

�

North Carolina	56-0939887
(State of incorporation)	(I.R.S. Employer Identification No.)

�

200 West Second Street	�
Winston-Salem, North Carolina	27101
(Address of principal executive offices)	(Zip Code)

�

(336) 733-2000

(Registrant's telephone number, including area code)

______________

�

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

�

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)�

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)�

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))�
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

�

ITEM 2.02

Results of Operations and Financial Condition

�

On January 22, 2015, BB&T Corporation issued a press release reporting fourth quarter 2014 results and posted on its website its fourth quarter 2014 Earnings Release, Quarterly Performance Summary and Earnings Release Presentation. The release contains forward-looking statements regarding BB&T and includes a cautionary statement identifying important factors that could cause actual results to differ materially from those anticipated. The Earnings Release, Quarterly Performance Summary and Earnings Release Presentation are furnished as Exhibits 99.1, 99.2 and 99.3, respectively.

�

ITEM 9.01	Financial Statements and Exhibits
�	�
Exhibit No.	Description of Exhibit
�	�
99.1	BB&T Corporation's Earnings Release issued January 22, 2015.
�	�
99.2	BB&T Corporation's Quarterly Performance Summary issued January 22, 2015.
�	�
99.3	BB&T Corporation's Earnings Release Presentation issued January 22, 2015.

�

S I G N A T U R E

�

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

�

�	BB&T CORPORATION
�	(Registrant)
�	�
�	By: /s/ Cynthia B. Powell
�	�
�	Cynthia B. Powell
�	Executive Vice President and Corporate Controller
�	(Principal Accounting Officer)

�

Date: January 22, 2015

�

Exhibit 99.1

�

January 22, 2015

�

FOR IMMEDIATE RELEASE

�

Contacts:	�	�	�	�
ANALYSTS	�		�	MEDIA
Alan Greer	�	Tamera Gjesdal	�	Cynthia A. Williams
Executive Vice President	�	Senior Vice President	�	Senior Executive Vice President
Investor Relations	�	Investor Relations	�	Corporate Communications
(336) 733-3021	�	(336) 733-3058	�	(336) 733-1470

�

BB&T reports record results for 2014

Full year earnings exceed $2.0 billion

�

WINSTON-SALEM, N.C. -- BB&T Corporation (NYSE: BBT) today reported record quarterly earnings for the fourth quarter of 2014. Net income available to common shareholders was $557 million, compared to $537 million earned in the fourth quarter of 2013, an increase of 3.7%. Earnings per diluted common share totaled $0.76 in the quarter compared to $0.75 last year.

�

For the full year, net income available to common shareholders totaled $2.0 billion for 2014, resulting in earnings per diluted share of $2.75, up more than 25% compared to last year.

�

We are pleased to report record net income for the fourth quarter and full year 2014, said Chairman and Chief Executive Officer Kelly S. King. These results were driven by very good expense control and strong performances from our mortgage banking, insurance and investment banking and brokerage businesses, which drove noninterest income to exceed $1 billion for the quarter.

�

We also enjoyed across the board improvement in credit quality with annualized net charge-offs amounting to 0.39% of loans, well below our normalized range of 50 to 70 basis points, said King. Delinquent loans continued to fall as early stage delinquencies declined $23 million and those 90 or more days past due dropped $33 million.

�

During the fourth quarter, we sold approximately $140 million of residential mortgage loans, most of which were nonperforming, at an after-tax gain of $24 million. Overall credit quality is at its best level in seven years.

�

- 1 -

�

In November, we announced an agreement to acquire Susquehanna Bancshares, an exciting opportunity and an attractive extension of our mid-Atlantic footprint into growing and diverse markets. The acquisition will add 245 retail branches with approximately $13.6 billion in deposits and $18.6 billion in assets, said King.

�

Fourth Quarter 2014 Performance Highlights

�

Taxable equivalent revenues were $2.4 billion for the fourth quarter, an annualized increase of 9.2% compared to the third quarter

Net interest margin was 3.36%, down two basis points compared to the prior quarter due to lower rates on new loans and runoff of loans acquired from the FDIC

Insurance income was up $24 million, reflecting continued growth in property and casualty commissions

Mortgage banking income was up $21 million, primarily due to net mortgage servicing rights valuation adjustments

Investment banking and brokerage was up $17 million driven by capital markets activity

�

Noninterest expense was $1.4 billion, down $145 million compared to the third quarter; down $23 million excluding the third quarter loss on early extinguishment of debt

Personnel expense was flat, as approximately 600 fewer FTEs and other decreases in benefits and fringes were offset by incentives, which were higher primarily as a result of increased production

Other expense declined $37 million primarily the result of state franchise taxes and lower insurance-related expenses

Merger-related and restructuring charges were $11 million higher due to increased merger activity

Loan-related expense included a $27 million charge related to a review of mortgage lending processes

The adjusted efficiency ratio improved to 56.7%

�

Average loans and leases held for investment decreased 0.9% on an annualized basis compared to the third quarter of 2014; up 3.2% excluding mortgage

Average C&I loans increased 4.7%

Average CRE income producing properties loans increased 3.2%

Average CRE construction and development loans increased 15.2%

Average direct retail loans increased 8.7%

Average loans in the other lending subsidiaries group increased 4.1%

Average residential mortgage loans decreased 11.8%

�

Average deposits decreased $293 million, or 0.9% annualized, compared to the prior quarter

Average noninterest-bearing deposits increased $1.0 billion, or 10.7%

Average interest-bearing deposit costs were 0.25%, one basis point lower than the prior quarter

- 2 -

�

Deposit mix continued to improve, with average noninterest-bearing deposits representing 30.0% of total deposits, compared to 29.2% in the prior quarter

�

Asset quality continued to improve

Nonperforming assets decreased $157 million, or 16.7%

Delinquent loans decreased $56 million, or 3.8%

The allowance for loan loss coverage ratio was 2.39 times nonperforming loans held for investment in the fourth quarter, versus 1.92 times in the third quarter

�

Capital levels remained strong across the board

Tier 1 common equity to risk-weighted assets was 10.6%

Tier 1 risk-based capital was 12.4%

Total capital was 14.9%

Basel III common equity tier 1 was 10.3%

Leverage capital was 9.9%

Tangible common equity to tangible assets was 8.0%

�

- 3 -

�

EARNINGS HIGHLIGHTS

�

Change

�

Change

(dollars in millions, except per share data)

�

Q4 14 vs.

�

Q4 14 vs.

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

Net income available to common shareholders

�557�

�

�520�

�

�537�

�

�37�

�

�20�

Diluted earnings per common share

�

�0.76�

�

�0.71�

�

�0.75�

�

�0.05�

�

�0.01�

�

Net interest income - taxable equivalent

�1,371�

�

�1,385�

�

�1,397�

�

�(14)

�

�(26)

Noninterest income

�

�1,004�

�

�936�

�

�985�

�

�68�

�

�19�

�

Total revenue

�2,375�

�

�2,321�

�

�2,382�

�

�54�

�

�(7)

�

Return on average assets (%)

�

�1.30�

�

�1.19�

�

�1.30�

�

�0.11�

�

��

Return on average risk-weighted assets (%)

�

�1.70�

�

�1.58�

�

�1.70�

�

�0.12�

�

��

Return on average common shareholders' equity (%)

�

�10.08�

�

�9.60�

�

�10.85�

�

�0.48�

�

�(0.77)

Return on average tangible common shareholders'

�

equity (%)

�

�15.57�

�

�15.04�

�

�17.91�

�

�0.53�

�

�(2.34)

Net interest margin - taxable equivalent (%)

�

�3.36�

�

�3.38�

�

�3.56�

�

�(0.02)

�

�(0.20)

Efficiency ratio (1) (%)

�

�56.7�

�

�59.7�

�

�59.9�

�

�(3.0)

�

�(3.2)

�

(1)

Excludes certain items as detailed in the non-GAAP reconciliations in the Quarterly Performance Summary.

�

Fourth Quarter 2014 compared to Third Quarter 2014

�

Consolidated net income available to common shareholders for the fourth quarter of 2014 was $557 million, an increase of $37 million compared to the third quarter of 2014. On a diluted per common share basis, earnings for the fourth quarter were $0.76, compared to $0.71 earned in the prior quarter. BB&Ts results of operations for the fourth quarter produced an annualized return on average assets of 1.30%, an annualized return on average risk-weighted assets of 1.70% and an annualized return on average common shareholders equity of 10.08%, compared to prior quarter ratios of 1.19%, 1.58% and 9.60%, respectively. BB&Ts return on average tangible common shareholders equity was 15.57% for the fourth quarter of 2014, compared to 15.04% for the prior quarter.

�

Results reflect reserve charges related to an ongoing review of mortgage lending processes totaling $27 million, or $17 million on an after-tax basis. BB&T also recognized a $15 million benefit, or $9 million after taxes, related to anticipated state franchise tax refunds.

�

Total revenues were $2.4 billion for the fourth quarter of 2014, an increase of $54 million compared to the prior quarter, which reflects an increase in noninterest income of $68 million and a decrease in taxable-equivalent net interest income of $14 million.

�

- 4 -

�

The decrease in taxable-equivalent net interest income includes a $24 million decrease in interest income and a $10 million decrease in interest expense. Net interest margin was 3.36% for the fourth quarter, a decrease of two basis points compared to the prior quarter. Average earning assets decreased $320 million, or 0.8% annualized, while average interest-bearing liabilities decreased $1.5 billion, or 5.0% annualized. The annualized yield on the total loan portfolio for the fourth quarter was 4.30%, a seven basis point decrease compared to the prior quarter, which primarily reflects lower yields on new loans and the continued runoff of higher yielding loans acquired from the FDIC. The annualized fully taxable-equivalent (FTE) yield on the average securities portfolio for the fourth quarter was 2.45%, up two basis points compared to the prior quarter.

�

The average annualized cost of interest-bearing deposits was 0.25%, down one basis point from the prior quarter. The average annualized rate paid on long-term debt was 2.22%, a decrease of 14 basis points compared to the prior quarter, which primarily reflects the impact of the early extinguishment of certain higher cost FHLB advances late in the third quarter.

�

The provision for credit losses, excluding loans acquired from the FDIC, for the fourth quarter was $84 million, an increase of $38 million compared to the prior quarter. The current quarter included a $24 million allowance release related to the sale of residential mortgage loans (primarily nonperforming) with a carrying value of approximately $140 million, while the prior quarter included a $42 million allowance release related to the sale of certain mortgage loans. In addition, the provision related to unfunded lending commitments was a benefit of $3 million in the current quarter compared to a benefit of $22 million in the prior quarter. Net charge-offs for the fourth quarter totaled $116 million, a decrease of $26 million compared to the prior quarter. This decline was primarily due to the current and prior quarter loan sales, which resulted in net recoveries of $4 million and net charge-offs of $15 million, respectively.

�

Noninterest expense was $1.4 billion for the fourth quarter, down $145 million compared to the prior quarter. This decrease primarily reflects the $122 million loss on early extinguishment of debt in the prior quarter and a $37 million decline in other expense driven by a $15 million benefit for anticipated franchise tax refunds and lower insurance-related expense, offset by an $11 million increase in merger-related and restructuring charges as merger activity has increased. The current quarter also included a $27 million charge related to an ongoing review of mortgage lending processes.

�

The provision for income taxes was $236 million for the fourth quarter, compared to $134 million for the prior quarter. This produced an effective tax rate for the fourth quarter of 27.9%, compared to 19.3% for the prior quarter. The increase in the effective tax rate primarily reflects a $50 million tax benefit recognized in the prior quarter.

�

- 5 -

�

Fourth Quarter 2014 compared to Fourth Quarter 2013

�

Consolidated net income available to common shareholders for the fourth quarter of 2014 was $557 million, an increase of $20 million compared to the same quarter of 2013. On a diluted per common share basis, earnings for the fourth quarter of 2014 were $0.76, compared to $0.75 for the earlier quarter. BB&Ts results of operations for the fourth quarter of 2014 produced an annualized return on average assets of 1.30%, an annualized return on average risk-weighted assets of 1.70% and an annualized return on average common shareholders equity of 10.08%, compared to prior quarter ratios of 1.30%, 1.70% and 10.85%, respectively. BB&Ts return on average tangible common shareholders equity was 15.57% for the fourth quarter of 2014, compared to 17.91% for the earlier quarter.

�

Total revenues were $2.4 billion for the fourth quarter of 2014, essentially flat compared to the earlier quarter as a decrease in taxable-equivalent net interest income of $26 million was largely offset by a $19 million increase in noninterest income.

�

Net interest margin was 3.36%, down 20 basis points compared to the earlier quarter. Average earning assets increased $6.5 billion, or 4.2%, while average interest-bearing liabilities increased $1.2 billion, or 1.1%. The annualized yield on the total loan portfolio for the fourth quarter was 4.30%, a decrease of 34 basis points compared to the earlier quarter, which primarily reflects lower yields on new loans and continued runoff of higher yielding loans acquired from the FDIC. The annualized FTE yield on the average securities portfolio for the fourth quarter was 2.45%, which was seven basis points lower than the earlier period.

�

The average annualized cost of interest-bearing deposits was 0.25%, a decline of three basis points compared to the earlier quarter. The average annualized rate paid on long-term debt was 2.22%, a decrease of 42 basis points compared to the earlier quarter. This decrease was the result of lower rates on new issues during the last twelve months and the early extinguishment of higher cost FHLB advances in the third quarter of 2014.

�

The $19 million increase in noninterest income was primarily driven by higher insurance and mortgage banking income, which increased $38 million and $28 million, respectively, partially offset by a $51 million decrease in other income.

�

The provision for credit losses increased $23 million compared to the earlier quarter primarily due to the reserve release in the earlier quarter partially offset by the impact of the fourth quarter loan sale. Net charge-offs for the fourth quarter of 2014, excluding loans acquired from the FDIC and the impact of the loan sale, totaled $106 million, down $35 million compared to the earlier quarter. Excluding the reserve for unfunded lending commitments and the impact of the loan sale, the reserve release was $67 million for the fourth quarter of 2013 compared to a provision of $5 million in the current quarter.

�

Noninterest expense was $1.4 billion for the fourth quarter of 2014, a decrease of $45 million compared to the earlier quarter. This decrease reflects the impact of broad cost control measures, including a 1,280 decrease in FTEs, which was partially offset by higher loan-related expense due to the $27 million charge related to an ongoing review of mortgage lending processes.

- 6 -

�

The provision for income taxes was $236 million for the fourth quarter of 2014, compared to $243 million for the earlier quarter. This produced an effective tax rate for the fourth quarter of 2014 of 27.9%, compared to 29.2% for the earlier quarter.

�

REVENUE, NET OF PROVISION, IMPACT OF

�

Change

�

Change

�

ASSETS ACQUIRED FROM THE FDIC (1)

�

Q4 14 vs.

�

Q4 14 vs.

(dollars in millions)

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

Interest income loans

�52�

�

�67�

�

�89�

�

�(15)

�

�(37)

Interest income securities

�

�31�

�

�31�

�

�28�

�

��

�

�3�

�

Total interest income

�

�83�

�

�98�

�

�117�

�

�(15)

�

�(34)

Benefit (provision) for loans acquired from FDIC

�

�1�

�

�12�

�

�11�

�

�(11)

�

�(10)

FDIC loss share income, net

�

�(84)

�

�(87)

�

�(75)

�

�3�

�

�(9)

�

Net revenue after provision

��

�

�23�

�

�53�

�

�(23)

�

�(53)

�

FDIC loss share income, net

�

Offset to provision for covered loans

�(3)

�

�(10)

�

�(9)

�

�7�

�

�6�

�

Accretion due to credit loss improvement

�

�(70)

�

�(67)

�

�(60)

�

�(3)

�

�(10)

�

Accretion for securities

�

�(11)

�

�(10)

�

�(6)

�

�(1)

�

�(5)

�

�(84)

�

�(87)

�

�(75)

�

�3�

�

�(9)

�

(1)

Presents amounts related to loans and securities acquired from the FDIC and the FDIC loss sharing asset recognized in the Colonial acquisition. Excludes all amounts related to other assets acquired and liabilities assumed.

�

Fourth Quarter 2014 compared to Third Quarter 2014

�

Interest income on loans acquired from the FDIC was $15 million lower than the prior quarter. The decline was primarily the result of lower average loan balances. The yield on these loans for the fourth quarter was 15.93% compared to 17.12% in the prior quarter.

�

As of October 1, 2014, the loss sharing provisions of the commercial loss sharing agreement expired. As a result, losses on the assets subject to this agreement (commercial loans, other related assets and certain AFS securities) are no longer shared with the FDIC. However, gains on the disposition of assets subject to this agreement will be shared with the FDIC through September 30, 2017. Any gains realized after September 30, 2017 would not be shared with the FDIC. The carrying values of commercial loans and related other assets that are no longer subject to loss sharing were $561 million and $58 million, respectively, at December 31, 2014. The AFS securities subject to the provisions of the commercial loss sharing agreement are carried at fair value, which totaled $1.2 billion at December 31, 2014.

�

Assets subject to the single family loss sharing agreement are indemnified through August 31, 2019. The carrying values of residential loans and related other assets that are still subject to loss sharing were $654 million and $38 million, respectively, at December 31, 2014.

�

- 7 -

�

The loss sharing coverage related to the acquired AFS securities is based on a contractually-specified value of the securities as of the date of the loss sharing agreement, adjusted to reflect subsequent pay-downs, redemptions or maturities on the underlying securities. The contractually-specified value of these securities totaled approximately $626 million at December 31, 2014. During the period of gain sharing (October 1, 2014 through September 30, 2017), any decline in the fair value of the acquired AFS securities down to the contractually-specified value would reduce BB&Ts liability to the FDIC at the applicable loss sharing percentage. BB&T would not be indemnified for declines in the fair value of the acquired securities below the contractually-specified amount.

�

Fourth Quarter 2014 compared to Fourth Quarter 2013

�

Interest income on loans and securities acquired from the FDIC for the fourth quarter of 2014 decreased $34 million compared to the earlier quarter, primarily resulting from decreased interest income related to loans totaling $37 million. The decline in interest income related to loans primarily reflects lower average loan balances. The yield on these loans for the fourth quarter of 2014 was 15.93% compared to 16.28% in the earlier quarter.

�

NONINTEREST INCOME

�

% Change

�

% Change

(dollars in millions)

�

Q4 14 vs.

�

Q4 14 vs.

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

�

(annualized)

�

Insurance income

�409�

�

�385�

�

�371�

�

�24.7�

�

�10.2�

Service charges on deposits

�

�152�

�

�156�

�

�151�

�

�(10.2)

�

�0.7�

Mortgage banking income

�

�128�

�

�107�

�

�100�

�

�77.9�

�

�28.0�

Investment banking and brokerage fees and

�

commissions

�

�112�

�

�95�

�

�101�

�

�71.0�

�

�10.9�

Bankcard fees and merchant discounts

�

�67�

�

�70�

�

�65�

�

�(17.0)

�

�3.1�

Trust and investment advisory revenues

�

�56�

�

�56�

�

�52�

�

��

�

�7.7�

Checkcard fees

�

�52�

�

�52�

�

�50�

�

��

�

�4.0�

Income from bank-owned life insurance

�

�30�

�

�28�

�

�32�

�

�28.3�

�

�(6.3)

FDIC loss share income, net

�

�(84)

�

�(87)

�

�(75)

�

�(13.7)

�

�12.0�

Securities gains (losses), net

�

��

�

�(5)

�

�5�

�

�(100.0)

Other income

�

�82�

�

�79�

�

�133�

�

�15.1�

�

�(38.3)

�

Total noninterest income

�1,004�

�

�936�

�

�985�

�

�28.8�

�

�1.9�

�

NM - not meaningful.

�

- 8 -

�

Fourth Quarter 2014 compared to Third Quarter 2014

�

Noninterest income was $1.0 billion for the fourth quarter, up $68 million compared to the prior quarter. This increase was driven by higher insurance income, mortgage banking income and investment banking and brokerage fees and commissions. Insurance income was up $24 million compared to the prior quarter, which was primarily due to $21 million in higher property and casualty insurance commissions. Mortgage banking income was $21 million higher than the prior quarter, reflecting $15 million in higher net mortgage servicing rights valuation adjustments. Investment banking and brokerage fees and commissions was up $17 million driven by increased capital markets activity.

�

Fourth Quarter 2014 compared to Fourth Quarter 2013

�

Noninterest income for the fourth quarter of 2014 increased $19 million, or 1.9%, compared to the earlier quarter. This increase was primarily driven by $38 million of higher insurance income, which reflects increased production across nearly all lines of BB&Ts insurance businesses. Mortgage banking income was $28 million higher than the prior quarter, reflecting higher mortgage servicing rights valuation adjustments. Investment banking and brokerage fees and commissions was $11 million higher driven by increased capital markets activity. These increases were partially offset by a $51 million decrease in other income, which is largely attributable to the $31 million gain on sale of a consumer lending subsidiary in the earlier quarter and $17 million of lower income related to assets for certain post-employment benefits, which is offset in personnel expense.

�

NONINTEREST EXPENSE

�

% Change

�

% Change

(dollars in millions)

�

Q4 14 vs.

�

Q4 14 vs.

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

�

(annualized)

�

Personnel expense

�794�

�

�795�

�

�827�

�

�(0.5)

�

�(4.0)

Occupancy and equipment expense

�

�168�

�

�170�

�

�174�

�

�(4.7)

�

�(3.4)

Loan-related expense

�

�89�

�

�84�

�

�64�

�

�23.6�

�

�39.1�

Professional services

�

�38�

�

�34�

�

�46�

�

�46.7�

�

�(17.4)

Software expense

�

�45�

�

�44�

�

�43�

�

�9.0�

�

�4.7�

Regulatory charges

�

�24�

�

�23�

�

�33�

�

�17.2�

�

�(27.3)

Outside IT services

�

�27�

�

�30�

�

�29�

�

�(39.7)

�

�(6.9)

Amortization of intangibles

�

�22�

�

�23�

�

�26�

�

�(17.2)

�

�(15.4)

Foreclosed property expense

�

�10�

�

�11�

�

�11�

�

�(36.1)

�

�(9.1)

Merger-related and restructuring charges, net

�

�18�

�

�7�

�

�10�

�

�80.0�

Loss on early extinguishment of debt

�

��

�

�122�

�

��

�

Other expense

�

�176�

�

�213�

�

�193�

�

�(68.9)

�

�(8.8)

�

Total noninterest expense

�1,411�

�

�1,556�

�

�1,456�

�

�(37.0)

�

�(3.1)

�

NM - not meaningful.

�

- 9 -

�

Fourth Quarter 2014 compared to Third Quarter 2014

�

Noninterest expense was $1.4 billion for the fourth quarter, down $145 million compared to the prior quarter, which was primarily due to the $122 million loss on early extinguishment of FHLB advances in the earlier quarter. Other expense decreased $37 million driven by a $15 million benefit related to anticipated state franchise tax refunds and lower insurance-related costs. These decreases were partially offset by an $11 million increase in merger-related and restructuring charges, which reflects increased activity as a result of recently announced acquisitions of Susquehanna Bancshares and the Bank of Kentucky; both of which are expected to close later in 2015. Loan-related expense was up $5 million as the previously described charge of $27 million was largely offset by higher mortgage foreclosure-related expenses in the prior quarter. Personnel expense was flat as savings resulting from approximately 600 fewer FTEs and other decreases in benefits and fringes were offset by incentives, which were higher primarily as a result of increased production.

�

Fourth Quarter 2014 compared to Fourth Quarter 2013

�

Noninterest expense for the fourth quarter of 2014 was $45 million lower than the same period of 2013. The decrease was primarily driven by lower personnel and other expense, partially offset by higher loan-related expense. The decrease in personnel expense of $33 million reflects a decrease in qualified pension plan expense that was driven by lower amortization of net actuarial losses and 1,280 fewer FTEs, partially offset by increased post-employment benefits expense, which is offset in other income, and higher production-related incentives. Other expense was $17 million lower than the earlier quarter primarily due to the $15 million benefit related to anticipated state franchise tax refunds. The increase in loan-related expense was primarily due to the previously described charges recognized in the current quarter. The other categories of expense were down a combined $20 million, led by lower regulatory charges and professional services and partially offset by higher merger-related charges.

�

LOANS AND LEASES - average balances

�

% Change

�

% Change

(dollars in millions)

�

Q4 14 vs.

�

Q4 14 vs.

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

�

(annualized)

�

Commercial and industrial

�40,383�

�

�39,906�

�

�38,101�

�

�4.7�

�

�6.0�

CRE - income producing properties

�

�10,681�

�

�10,596�

�

�10,031�

�

�3.2�

�

�6.5�

CRE - construction and development

�

�2,772�

�

�2,670�

�

�2,433�

�

�15.2�

�

�13.9�

Direct retail lending

�

�8,085�

�

�7,912�

�

�15,998�

�

�8.7�

�

�(49.5)

Sales finance

�

�10,247�

�

�10,313�

�

�9,262�

�

�(2.5)

�

�10.6�

Revolving credit

�

�2,427�

�

�2,396�

�

�2,357�

�

�5.1�

�

�3.0�

Residential mortgage

�

�31,046�

�

�32,000�

�

�23,979�

�

�(11.8)

�

�29.5�

Other lending subsidiaries

�

�11,351�

�

�11,234�

�

�10,448�

�

�4.1�

�

�8.6�

Acquired from the FDIC

�

�1,309�

�

�1,537�

�

�2,186�

�

�(58.9)

�

�(40.1)

�

Total loans and leases held for investment

�118,301�

�

�118,564�

�

�114,795�

�

�(0.9)

�

�3.1�

�

- 10 -

�

Average loans held for investment for the fourth quarter of 2014 were $118.3 billion, down $263 million compared to the prior quarter. The decrease in average loans held for investment was primarily due to a decline of $954 million in the residential mortgage portfolio and continued run-off of loans acquired from the FDIC. These declines were partially offset by a $477 million increase in the commercial and industrial portfolio as well as smaller increases in the CRE construction and development, direct retail lending and other lending subsidiaries portfolios.

�

The decrease of $954 million, or 11.8% annualized, in the residential mortgage portfolio reflects the $550 million loan sale that occurred during the third quarter, which had a partial impact on third quarter averages and a full impact on fourth quarter averages. The decrease also reflects lower origination volume and a reduction in fixed rate home equity loans due to continued runoff. The previously described $140 million loan sale occurred late in the fourth quarter and therefore had minimal impact on average balances.

�

Average commercial and industrial loans increased $477 million, or 4.7% annualized, which reflects strong growth from large corporate clients. Growth in this sector has benefited from the expansion of BB&Ts footprint into new markets. CRE construction and development loans were up 15.2% annualized, reflecting a continued strong growth trend in that portfolio.

�

The average direct retail lending portfolio increased $173 million, or 8.7% annualized, while average other lending subsidiaries loans increased $117 million, or 4.1% on an annualized basis.

�

DEPOSITS - average balances

�

% Change

�

% Change

(dollars in millions)

�

Q4 14 vs.

�

Q4 14 vs.

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

�

(annualized)

�

Noninterest-bearing deposits

�39,130�

�

�38,103�

�

�35,347�

�

�10.7�

�

�10.7�

Interest checking

�

�19,308�

�

�18,588�

�

�18,969�

�

�15.4�

�

�1.8�

Money market and savings

�

�51,176�

�

�49,974�

�

�49,298�

�

�9.5�

�

�3.8�

Time deposits and IRAs

�

�20,041�

�

�23,304�

�

�21,580�

�

�(55.6)

�

�(7.1)

Foreign office deposits - interest-bearing

�

�660�

�

�639�

�

�712�

�

�13.0�

�

�(7.3)

�

Total deposits

�130,315�

�

�130,608�

�

�125,906�

�

�(0.9)

�

�3.5�

�

Average deposits for the fourth quarter were $130.3 billion, a decrease of $293 million or 0.9% annualized compared to the prior quarter. The change in average deposits reflects improved mix, with noninterest-bearing deposits up $1.0 billion, or 10.7% annualized, while interest-bearing balances were down $1.3 billion, or 5.7% annualized. Noninterest-bearing deposits represented 30.0% of total average deposits for the fourth quarter, compared to 29.2% for the prior quarter and 28.1% a year ago.

�

The growth in average noninterest-bearing deposits includes an increase in average commercial accounts totaling $678 million and an increase in average public funds accounts totaling $325 million. The decline in interest-bearing accounts was driven by a $3.3 billion decline in time deposits and IRAs, partially offset by a $1.2 billion increase in money market and savings and a $720 million increase in interest checking.

�

- 11 -

�

The cost of interest-bearing deposits was 0.25% for the fourth quarter, a decrease of one basis point compared to the prior quarter.

�

SEGMENT RESULTS

�

Change

�

Change

(dollars in millions)

�

Q4 14 vs.

�

Q4 14 vs.

Segment Net Income

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

Community Banking

�

�254�

�

�231�

�

�254�

�

�23�

�

��

Residential Mortgage Banking

�

�82�

�

�80�

�

�49�

�

�2�

�

�33�

Dealer Financial Services

�

�34�

�

�51�

�

�50�

�

�(17)

�

�(16)

Specialized Lending

�

�64�

�

�71�

�

�70�

�

�(7)

�

�(6)

Insurance Services

�

�65�

�

�36�

�

�54�

�

�29�

�

�11�

Financial Services

�

�80�

�

�71�

�

�87�

�

�9�

�

�(7)

Other, Treasury and Corporate

�

�30�

�

�21�

�

�24�

�

�9�

�

�6�

�

Total net income

�

�609�

�

�561�

�

�588�

�

�48�

�

�21�

�

Fourth Quarter 2014 compared to Third Quarter 2014

�

Community Banking

�

Community Banking serves individual and business clients by offering a variety of loan and deposit products and other financial services. The segment is primarily responsible for acquiring and maintaining client relationships.

�

Community Banking net income was $254 million for the fourth quarter of 2014, an increase of $23 million over the prior quarter. Segment net interest income decreased $3 million, primarily driven by lower rates on new loans, partially offset by growth in average loan balances, primarily commercial real estate and direct retail loans, and deposit transaction account balances. Noninterest income decreased $8 million, primarily due to lower merchant discounts, service charges on deposits, and checkcard fees. The allocated provision for credit losses decreased $32 million as the result of lower commercial loan net charge-offs and improved credit quality. Noninterest expense decreased $16 million driven by lower personnel expense and legal expense, partially offset by higher loan-related expense. Average loans grew $378 million, or 3.0% on an annualized basis, while average transaction account deposits grew $1.6 billion, or 12.3% on an annualized basis.

�

Residential Mortgage Banking

�

Residential Mortgage Banking retains and services mortgage loans originated by BB&T as well as those purchased from various correspondent originators. Mortgage loan products include fixed and adjustable-rate government guaranteed and conventional loans for the purpose of constructing, purchasing, or refinancing residential properties. Substantially all of the properties are owner-occupied.

�

Residential Mortgage Banking net income was $82 million for the fourth quarter of 2014, an increase of $2 million over the prior quarter. Segment net interest income decreased $6 million, primarily the result of lower average loan balances consistent with the current strategy of selling substantially all conforming mortgage loan production. Noninterest income increased $18

- 12 -

�

million driven by an increase in the fair value of net mortgage servicing rights. The allocated provision for credit losses reflected a benefit of $38 million in the fourth quarter of 2014, compared to a benefit of $48 million in the prior quarter, primarily due to the previously described loan sales that occurred in the third and fourth quarters. Noninterest expense was down slightly as reductions in personnel expense and repurchase reserves expense were partially offset by the $27 million charge related to the ongoing review of mortgage lending processes.

�

Dealer Financial Services

�

Dealer Financial Services primarily originates loans to consumers for the purchase of automobiles. These loans are originated on an indirect basis through approved franchised and independent automobile dealers throughout BB&Ts market area through BB&T Dealer Finance, and on a national basis through Regional Acceptance Corporation. Dealer Financial Services also originates loans for the purchase of recreational and marine vehicles and, through the Community Bank, provides financing and servicing to dealers for their inventories.

�

Dealer Financial Services net income was $34 million for the fourth quarter of 2014, a decrease of $17 million compared to the prior quarter. The allocated provision for credit losses increased $27 million primarily due to seasonally higher net charge-offs and higher loss estimates related to the non-prime automobile loan portfolio.

�

Specialized Lending

�

Specialized Lending consists of businesses that provide specialty finance alternatives to commercial and consumer clients including: commercial finance, mortgage warehouse lending, tax-exempt financing for local governments and special-purpose districts, equipment leasing, full-service commercial mortgage banking, commercial and retail insurance premium finance, dealer-based financing of equipment for consumers and small businesses, and direct consumer finance.

�

Specialized Lending net income was $64 million for the fourth quarter of 2014, a decrease of $7 million compared to the prior quarter. Segment net interest income decreased $3 million driven by lower credit spreads on loans, partially offset by growth in the small-ticket consumer finance and commercial mortgage portfolios. Noninterest income increased $6 million driven by higher commercial mortgage and operating lease income. The allocated provision for credit losses increased $9 million as the rate of improvement in loss factors has stabilized. Noninterest expense increased $4 million primarily due to higher depreciation on property held under operating leases.

�

- 13 -

�

Insurance Services

�

BB&Ts insurance agency / brokerage network is the fifth largest in the United States and sixth largest in the world. Insurance Services provides property and casualty, life, and health insurance to business and individual clients. It also provides small business and corporate products, such as workers compensation and professional liability, as well as surety coverage and title insurance. In addition, Insurance Services underwrites a limited amount of property and casualty coverage.

�

Insurance Services net income was $65 million in the fourth quarter of 2014, an increase of $29 million over the prior quarter. Insurance Services noninterest income increased $34 million, which primarily reflects a seasonal increase in property and casualty insurance commissions, higher wholesale life insurance commissions and higher employee benefit commissions. Noninterest expense decreased $16 million, benefiting from a reduction in certain actuarially-determined loss reserves.

�

Financial Services

�

Financial Services provides personal trust administration, estate planning, investment counseling, wealth management, asset management, employee benefits services, corporate banking and corporate trust services to individuals, corporations, institutions, foundations and government entities. In addition, Financial Services offers clients investment alternatives, including discount brokerage services, equities, fixed-rate and variable-rate annuities, mutual funds and governmental and municipal bonds through BB&T Investment Services, Inc. The segment also includes BB&T Securities, a full-service brokerage and investment banking firm, the Corporate Banking Division, which originates and services large corporate relationships, syndicated lending relationships, and client derivatives, and BB&T Capital Partners, which manages the companys SBIC private equity investments.

�

Financial Services net income was $80 million in the fourth quarter of 2014, an increase of $9 million over the prior quarter. Segment net interest income increased $8 million driven by Corporate Banking and BB&T Wealth loan and deposit growth and wider credit spreads in the Corporate Banking loan portfolios. Noninterest income increased $32 million as the result of higher investment banking revenue and income from SBIC private equity investments. The allocated provision for credit losses increased $14 million as the result of loan growth and stabilization in the rate of improvement in credit trends. Noninterest expense increased $17 million compared to the prior quarter, driven by higher incentive expense and operating charge-offs. Financial Services continues to generate significant loan growth, with Corporate Bankings average loan balances increasing $555 million, or an annualized 23.3%, over the prior quarter, while BB&T Wealths average loan balances increased $96 million, or 32.4% on an annualized basis. Corporate Bankings average deposits grew $924 million, or 46.4% over the prior quarter on an annualized basis, while BB&T Wealths average deposits grew $253 million, or 8.2% on an annualized basis.

�

- 14 -

�

Other, Treasury & Corporate

�

Net income in Other, Treasury & Corporate can vary due to the changing needs of the Corporation, including the size of the investment portfolio, the need for wholesale funding, and income received from derivatives used to hedge the balance sheet.

�

In the fourth quarter of 2014, Other, Treasury & Corporate generated net income of $30 million, an increase of $9 million over the prior quarter. The allocated provision for credit losses was $21 million worse primarily due to the provision related to unfunded lending commitments, which was a benefit of $3 million in the current quarter compared to a benefit of $22 million in the prior quarter. Noninterest expense decreased $132 million, primarily due to a $122 million loss on the early extinguishment of FHLB debt in the prior quarter and the $15 million benefit for anticipated state franchise tax refunds, partially offset by higher merger-related charges. The provision for income taxes was $78 million higher than the prior quarter primarily due to a $50 million tax adjustment in the prior quarter.

�

Fourth Quarter 2014 compared to Fourth Quarter 2013

�

Community Banking

�

Community Banking net income was $254 million for the fourth quarter of 2014, flat compared to the earlier quarter. Segment net interest income decreased $20 million, primarily driven by lower rates on new loans, partially offset by growth in commercial real estate, dealer floor plan and direct retail loans and growth in deposit transaction accounts. The allocated provision for credit losses increased $12 million as the rate of improvement in loss factors has stabilized compared to the earlier quarter. The $49 million decrease in noninterest expense was primarily attributable to lower personnel expense, occupancy and equipment expense and legal fees. Allocated corporate expense increased $23 million primarily driven by internal business initiatives supporting Community Banking.

�

Residential Mortgage Banking

�

Residential Mortgage Banking net income was $82 million for the fourth quarter of 2014, an increase of $33 million over the earlier quarter. Segment net interest income decreased $18 million, primarily the result of lower average loan balances and lower credit spreads. Noninterest income increased $24 million driven by an increase in the fair value of net mortgage servicing rights and wider gain on sale margins, partially offset by decreased volume. The allocated provision for credit losses was a benefit of $38 million in the current quarter compared to $18 million of expense in the earlier quarter, which reflects the allowance release related to the sale of residential mortgage loans in the current quarter, lower average loan balances, lower net charge-offs and an improvement in credit trends compared to the earlier quarter. Noninterest expense increased $7 million, primarily due to the $27 million charge previously discussed, partially offset by a reduction in personnel expense.

�

- 15 -

�

Dealer Financial Services

�

Dealer Financial Services net income was $34 million in the fourth quarter of 2014, a decrease of $16 million compared to the earlier quarter, primarily due to an increase in the allocated provision for credit losses. The allocated provision for credit losses increased $23 million primarily due to higher charge-offs in the non-prime automobile loan portfolio and a normalization of credit trends in that portfolio. The provision for income taxes decreased $9 million compared to the earlier quarter primarily due to lower pre-tax income.

�

Specialized Lending

�

Specialized Lending net income was $64 million in the fourth quarter of 2014, a decrease of $6 million compared to the earlier quarter. Segment net interest income decreased $6 million, primarily attributable to the sale of a consumer lending subsidiary in the fourth quarter of 2013 and lower credit spreads on loans, which were partially offset by growth in the mortgage warehouse, small-ticket consumer finance and commercial mortgage portfolios. Noninterest income increased $11 million driven by higher commercial mortgage and operating lease income. The allocated provision for credit losses increased $8 million as the rate of improvement in loss factors has stabilized compared to the earlier quarter.

�

Insurance Services

�

Insurance Services net income was $65 million in the fourth quarter of 2014, an increase of $11 million over the earlier quarter. Noninterest income grew $36 million as Insurance Services continued to generate strong new and renewal business and market conditions improved. Noninterest expense increased $13 million, primarily attributable to higher performance-based incentives, adjustments to certain actuarially determined loss reserves and operating charge-offs.

�

Financial Services

�

Financial Services net income was $80 million in the fourth quarter of 2014, a decrease of $7 million compared to the earlier quarter. Segment net interest income increased $12 million driven by Corporate Banking and BB&T Wealth loan and deposit growth, partially offset by lower funding spreads. Noninterest income increased $13 million, driven by higher investment banking and trust and investment advisory income. The allocated provision for credit losses increased $21 million as the result of loan growth and stabilization in the rate of improvement in credit trends. Noninterest expense increased $14 million compared to the earlier quarter, driven by higher performance-based incentives and operating charge-offs.

�

Other, Treasury & Corporate

�

In the fourth quarter of 2014, Other, Treasury & Corporate generated net income of $30 million, an increase of $6 million over the earlier quarter. Noninterest income decreased $69 million, which primarily reflects the gain on sale of the consumer lending subsidiary during 2013 totaling approximately $31 million, higher income from assets related to certain post-employment benefits, and securities gains on the investment portfolio recorded during the earlier quarter. The

- 16 -

�

allocated provision for credit losses was a benefit of $10 million compared to a benefit of $25 million in the earlier quarter, primarily reflecting changes in provision expense related to loans acquired from the FDIC. Noninterest expense decreased $35 million, primarily due to the $15 million benefit for anticipated state franchise tax refunds and lower fringe benefit expense, partially offset by higher merger-related charges. Allocated corporate expense decreased by $40 million compared to the earlier quarter as the result of higher expense allocations to the other segments related to internal business initiatives and the continued centralization of certain support functions into the respective corporate centers.

�

CAPITAL RATIOS (1)		�	�	�	�	�	�	�	�	�
�		Q4	�	Q3	�	Q2	�	Q1	�	Q4
�		2014�	�	2014�	�	2014�	�	2014�	�	2013�
Risk-based:		�	�	�	�	�	�	�	�	�
�	Tier 1 common equity to risk-weighted assets (%) (2)	�10.6�	�	�10.5�	�	�10.2�	�	�10.2�	�	�9.9�
�	Tier 1 (%)	�12.4�	�	�12.4�	�	�12.1�	�	�12.1�	�	�11.8�
�	Total (%)	�14.9�	�	�15.1�	�	�14.4�	�	�14.6�	�	�14.3�
�	Basel III common equity Tier 1, estimated (%) (2)	�10.3�	�	�10.3�	�	�10.0�	�	�10.0�	�	�9.7�
Leverage (%)		�9.9�	�	�9.7�	�	�9.5�	�	�9.5�	�	�9.3�
Tangible common equity to tangible assets (%) (2)		�8.0�	�	�7.9�	�	�7.7�	�	�7.6�	�	�7.3�

�

(1)

Regulatory capital ratios are preliminary.

(2)

Tier 1 common equity, Basel III common equity Tier 1, tangible common equity and related ratios are non-GAAP measures. See the calculations and management's reasons for using these measures in the Capital Information Five Quarter Trend of the Quarterly Performance Summary.

�

Capital levels remained strong at December 31, 2014. BB&T declared total common dividends of $0.24 during the fourth quarter of 2014, which resulted in a dividend payout ratio of 31.2%. Risk-based capital ratios were generally consistent with the prior quarter as higher levels of capital were offset by increased risk-weighted assets. Risk-weighted assets increased as a result of the expiration of the loss-sharing provisions of the commercial loss-share agreement, as well as growth in funded and unfunded loans.

�

BB&Ts estimated common equity Tier 1 ratio under Basel III, on a fully-phased in basis, was approximately 10.3% at December 31, 2014, based on managements interpretation of the final rules adopted July 2, 2013 by the Federal Reserve Board that established a new comprehensive capital framework for U.S. banking organizations.

�

Based on managements interpretation of proposed rules that became effective January 1, 2015, BB&Ts liquidity coverage ratio was approximately 130% at December 31, 2014, compared to the regulatory minimum of 90%. In addition, the liquid asset buffer, which is defined as high quality unencumbered liquid assets as a percentage of total assets, was 13.6% at December 31, 2014.

�

- 17 -

�

ASSET QUALITY (1)(2)

�

Change

�

Change

(dollars in millions)

�

Q4 14 vs.

�

Q4 14 vs.

�

2014

�

2014

�

2013

�

Q3 14

�

Q4 13

Total nonperforming assets

�782�

�

�939�

�

�1,174�

�

�(157)

�

�(392)

Total loans 90 days past due and still accruing

�

�535�

�

�568�

�

�722�

�

�(33)

�

�(187)

Total loans 30-89 days past due

�

�896�

�

�919�

�

�1,107�

�

�(23)

�

�(211)

Total performing TDRs

�

�1,050�

�

�1,138�

�

�1,705�

�

�(88)

�

�(655)

�

Nonperforming loans and leases as a percentage of

�

loans and leases held for investment (%)

�

�0.51�

�

�0.66�

�

�0.81�

�

�(0.15)

�

�(0.30)

Nonperforming assets as a percentage of total assets (%)

�

�0.42�

�

�0.50�

�

�0.64�

�

�(0.08)

�

�(0.22)

Allowance for loan and lease losses as a percentage of

�

loans and leases held for investment (%)

�

�1.23�

�

�1.27�

�

�1.49�

�

�(0.04)

�

�(0.26)

Net charge-offs as a percentage of average loans and

�

leases (%) annualized

�

�0.39�

�

�0.48�

�

�0.49�

�

�(0.09)

�

�(0.10)

Ratio of allowance for loan and lease losses to net

�

charge-offs (times) annualized

�

�3.21�

�

�2.67�

�

�3.06�

�

�0.54�

�

�0.15�

Ratio of allowance for loan and lease losses to

�

nonperforming loans and leases held for

�

investment (times)

�

�2.39�

�

�1.92�

�

�1.85�

�

�0.47�

�

�0.54�

�

(1)

Excludes amounts related to government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase. See footnotes on the Credit Quality pages of the Quarterly Performance Summary for additional information.

(2)

Includes amounts related to loans acquired from the FDIC, previously called covered, in conjunction with the Colonial acquisition as the commercial loss sharing agreement has expired. Refer to the section titled Revenue, Net of Provision, Impact of Assets Acquired From the FDIC for additional information. Previous earnings releases had excluded these loans.

�

Nonperforming assets decreased $157 million during the quarter ended December 31, 2014, primarily due to the previously described sale of residential mortgage loans during the quarter. At December 31, 2014, nonperforming loans and leases represented 0.51% of loans and leases held for investment, compared to 0.66% at September 30, 2014.

�

Loans 30-89 days past due and still accruing, excluding government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase, totaled $896 million at December 31, 2014, a decrease of $23 million compared to the prior quarter. This decrease reflects a decline of $47 million for residential mortgage, which reflects continued improvement in credit quality, partially offset by a $20 million increase for other lending subsidiaries driven by seasonality.

�

Loans 90 days or more past due and still accruing totaled $535 million at December 31, 2014, a decrease of $33 million compared to the prior quarter. This decline reflects a $41 million decrease in delinquencies on loans acquired from the FDIC, primarily due to continued runoff of those balances. Excluding loans acquired from the FDIC, the ratio of loans 90 days or more past due and still accruing as a percentage of loans and leases was 0.29% at December 31, 2014, flat compared to the prior quarter.

�

- 18 -

�

Total performing TDRs were $1.1 billion at December 31, 2014, a decrease of $88 million compared to September 30, 2014. This decline is primarily due to sales of residential mortgage TDRs.

�

Net charge-offs during the fourth quarter totaled $116 million, a decline of $26 million compared to the prior quarter. This decline is primarily due to the current and prior quarter loan sales, which resulted in net recoveries of $4 million and net charge-offs of $15 million, respectively. As a percentage of average loans and leases, annualized net charge-offs were 0.39%, compared to 0.48% in the prior quarter.

�

The allowance for loan and lease losses was $1.5 billion, a decrease of $30 million compared to the prior quarter, which primarily reflects the impact of the previously described loan sale. As of December 31, 2014, the allowance for loan and lease losses was 1.23% of total loans and leases held for investment, compared to 1.27% at September 30, 2014. The allowance for loan and lease losses was 2.39 times nonperforming loans and leases held for investment, compared to 1.92 times at September 30, 2014. At December 31, 2014, the allowance for loan and lease losses was 3.21 times annualized net charge-offs, compared to 2.67 times at September 30, 2014.

�

Earnings presentation and Quarterly Performance Summary

�

To listen to BB&Ts live fourth quarter 2014 earnings conference call at 8 a.m. (ET) today, please call 1-888-632-5009 and enter the participant code 5184622. A presentation will be used during the earnings conference call and is available on our website at www.bbt.com/earnings. Replays of the conference call will be available for 30 days by dialing 888-203-1112 (access code 4313363).

�

The presentation, including an appendix reconciling non-GAAP disclosures, is available at www.bbt.com/earnings.

�

BB&Ts fourth quarter 2014 Quarterly Performance Summary, which contains detailed financial schedules, is available on BB&Ts website at www.bbt.com/earnings.

�

About BB&T

�

As of December 31, 2014, BB&T is one of the largest financial services holding companies in the U.S. with $186.8 billion in assets and market capitalization of $28.0 billion. Based in Winston-Salem, N.C., the company operates 1,839 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.bbt.com.

�

#-#-#

�

Capital ratios are preliminary. Credit quality data excludes government guaranteed GNMA loans where applicable.

- 19 -

�

This news release contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America (GAAP). BB&Ts management uses these non-GAAP measures in their analysis of the Corporations performance and the efficiency of its operations. Management believes that these non-GAAP 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 in the current period. The company believes that a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. BB&Ts management believes that investors may use these non-GAAP financial measures to analyze financial performance without the impact of unusual items that may obscure trends in the companys underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this news release:

�

Tangible common equity, Tier 1 common equity and related ratios are non-GAAP measures. The return on average risk-weighted assets is a non-GAAP measure. The Basel III common equity Tier I ratio reflects managements interpretation of the regulatory requirements, which is subject to change. 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.

�

The ratio of loans greater than 90 days and still accruing interest as a percentage of loans held for investment has been adjusted to remove the impact of loans that are or were covered by FDIC loss sharing agreements. Management believes that their inclusion may result in distortion of these ratios such that they might not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting.

�

Fee income and efficiency ratios are non-GAAP in that they exclude securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impact of FDIC loss share accounting and other selected items. BB&Ts management uses these measures in their analysis of the Corporations performance. BB&Ts management 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.

�

Return on average tangible common shareholders equity is a non-GAAP measure that calculates the return on average common shareholders equity without the impact of intangible assets and their related amortization. This measure is useful for evaluating the performance of a business consistently, whether acquired or developed internally.

�

Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of interest income and funding costs associated with loans and securities acquired in the Colonial acquisition. BB&Ts management believes that the exclusion of the generally higher yielding assets acquired in the Colonial acquisition from the calculation of net interest margin provides investors with useful information related to the relative performance of the remainder of BB&Ts earning assets.

�

- 20 -

�

A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included in BB&Ts Fourth Quarter 2014 Quarterly Performance Summary, which is available on BB&Ts website at www.bbt.com.

�

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future performance of BB&T that are based on the beliefs and assumptions of the management of BB&T and the information available to management at the time that these disclosures were prepared. Words such as anticipates, believes, estimates, expects, forecasts, intends, plans, projects, may, will, should, could, and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Such factors include, but are not limited to, the following:

�

general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for credit, insurance or other services;

�

disruptions to the credit and financial markets, either nationally or globally, including the impact of a downgrade of U.S. government obligations by one of the credit ratings agencies and the adverse effects of recessionary conditions in Europe;

�

changes in the interest rate environment and cash flow reassessments may reduce NIM and/or the volumes and values of loans made or held as well as the value of other financial assets held;

�

competitive pressures among depository and other financial institutions may increase significantly;

�

legislative, regulatory or accounting changes, including changes resulting from the adoption and implementation of the Dodd-Frank Act may adversely affect the businesses in which BB&T is engaged;

�

local, state or federal taxing authorities may take tax positions that are adverse to BB&T;

�

a reduction may occur in BB&Ts credit ratings;

�

adverse changes may occur in the securities markets;

�

competitors of BB&T may have greater financial resources and develop products that enable them to compete more successfully than BB&T and may be subject to different regulatory standards than BB&T;

�

natural or other disasters could have an adverse effect on BB&T in that such events could materially disrupt BB&Ts operations or the ability or willingness of BB&Ts customers to access the financial services BB&T offers;

�

costs or difficulties related to the integration of the businesses of BB&T and its merger partners may be greater than expected;

�

expected cost savings or revenue growth associated with completed mergers and acquisitions may not be fully realized or realized within the expected time frames;

�

significant litigation could have a material adverse effect on BB&T;

�

deposit attrition, customer loss and/or revenue loss following completed mergers and acquisitions may be greater than expected;

- 21 -

�

cyber-security risks, including denial of service, hacking and identity theft, could adversely affect our business and financial performance, or our reputation; and

�

failure to implement part or all of the Companys new ERP system could result in impairment charges that adversely impact BB&Ts financial condition and results of operations and could result in significant additional costs to BB&T.

�

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Actual results may differ materially from those expressed in or implied by any forward-looking statement. Except to the extent required by applicable law or regulation, BB&T undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

�

�- 22 -

�

Exhibit 99.2

�

BB&T Corporation

Quarterly Performance Summary

Fourth Quarter 2014

�

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 - Five Quarter Trend		5
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
Credit Quality		14
Credit Quality - Supplemental Information		17
Preliminary Capital Information - Five Quarter Trend		18
Selected Items & Additional Information		19
Non-GAAP Reconciliations		20

�

BB&T Corporation

�

Financial Highlights

�

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

�

Quarter Ended

�

Year-to-Date

�

December 31

�

December 31

�

2014

�

2013�

�

Change

�

2014

�

2013�

�

Change

Summary Income Statement

�

Interest income

�1,554�

�

�1,601�

�

�(2.9)

�

�6,286�

�

�6,654�

�

�(5.5)

Interest expense

�

�183�

�

�204�

�

�(10.3)

�

�769�

�

�892�

�

�(13.8)

�

Net interest income - taxable equivalent

�

�1,371�

�

�1,397�

�

�(1.9)

�

�5,517�

�

�5,762�

�

�(4.3)

�

Less:��Taxable-equivalent adjustment

�

�36�

�

�35�

�

�2.9�

�

�143�

�

�146�

�

�(2.1)

�

Net interest income��

�

�1,335�

�

�1,362�

�

�(2.0)

�

�5,374�

�

�5,616�

�

�(4.3)

�

Provision for credit losses

�

�83�

�

�60�

�

�38.3�

�

�251�

�

�592�

�

�(57.6)

�

Net interest income after provision for credit losses

�

�1,252�

�

�1,302�

�

�(3.8)

�

�5,123�

�

�5,024�

�

�2.0�

�

Noninterest income

�

�1,004�

�

�985�

�

�1.9�

�

�3,784�

�

�3,937�

�

�(3.9)

�

Noninterest expense

�

�1,411�

�

�1,456�

�

�(3.1)

�

�5,921�

�

�5,837�

�

�1.4�

�

Income before income taxes

�

�845�

�

�831�

�

�1.7�

�

�2,986�

�

�3,124�

�

�(4.4)

�

Provision for income taxes

�

�236�

�

�243�

�

�(2.9)

�

�760�

�

�1,395�

�

�(45.5)

�

Net income

�

�609�

�

�588�

�

�3.6�

�

�2,226�

�

�1,729�

�

�28.7�

�

Noncontrolling interests

�

�15�

�

�14�

�

�7.1�

�

�75�

�

�50�

�

�50.0�

�

Preferred stock dividends

�

�37�

�

�37�

�

��

�

�148�

�

�117�

�

�26.5�

�

Net income available to common shareholders

�

�557�

�

�537�

�

�3.7�

�

�2,003�

�

�1,562�

�

�28.2�

�

Per Common Share Data

�

Earnings:

�

Basic

�0.77�

�

�0.76�

�

�1.3�

�

�2.79�

�

�2.22�

�

�25.7�

�

Diluted

�

�0.76�

�

�0.75�

�

�1.3�

�

�2.75�

�

�2.19�

�

�25.6�

�

Cash dividends declared

�

�0.24�

�

�0.23�

�

�4.3�

�

�0.95�

�

�0.92�

�

�3.3�

�

Common equity

�

�30.16�

�

�28.52�

�

�5.8�

�

�30.16�

�

�28.52�

�

�5.8�

�

Tangible common equity (1)

�

�19.93�

�

�18.08�

�

�10.2�

�

�19.93�

�

�18.08�

�

�10.2�

�

End of period shares outstanding (in thousands)

�

�720,698�

�

�706,620�

�

�2.0�

�

�720,698�

�

�706,620�

�

�2.0�

�

Weighted average shares (in thousands):

�

Basic

�

�720,418�

�

�705,485�

�

�2.1�

�

�718,140�

�

�703,042�

�

�2.1�

�

Diluted

�

�730,652�

�

�717,671�

�

�1.8�

�

�728,372�

�

�714,363�

�

�2.0�

�

Performance Ratios

�

Return on average assets

�

�1.30�

�

�1.30�

�

�1.20�

�

�0.95�

�

Return on average risk-weighted assets

�

�1.70�

�

�1.70�

�

�1.59�

�

�1.26�

�

Return on average common shareholders' equity

�

�10.08�

�

�10.85�

�

�9.40�

�

�8.06�

�

Return on average tangible common shareholders' equity (2)

�

�15.57�

�

�17.91�

�

�14.79�

�

�13.61�

�

Net interest margin - taxable equivalent

�

�3.36�

�

�3.56�

�

�3.42�

�

�3.68�

�

Fee income ratio (3)

�

�45.8�

�

�43.5�

�

�44.3�

�

�43.2�

�

Efficiency ratio (3)

�

�56.7�

�

�59.9�

�

�58.9�

�

�58.5�

�

Credit Quality

�

Nonperforming assets as a percentage of:

�

Total assets

�

�0.42�

�

�0.64�

�

�0.42�

�

�0.64�

�

Loans and leases plus foreclosed property

�

�0.65�

�

�1.01�

�

�0.65�

�

�1.01�

�

Net charge-offs as a percentage of average

�

loans and leases��

�

�0.39�

�

�0.49�

�

�0.46�

�

�0.69�

�

Allowance for loan and lease losses as a percentage

�

of loans and leases held for investment

�

�1.23�

�

�1.49�

�

�1.23�

�

�1.49�

�

Ratio of allowance for loan and lease losses to

�

nonperforming loans and leases held for investment

�

�2.39�

�

�1.85�

�

�2.39�

�

�1.85�

�

Average Balances

�

Total assets

�186,441�

�

�179,534�

�

�3.8�

�

�185,068�

�

�181,262�

�

�2.1�

Total securities (4)

�

�40,817�

�

�37,022�

�

�10.3�

�

�40,541�

�

�36,772�

�

�10.2�

�

Loans and leases

�

�119,912�

�

�117,001�

�

�2.5�

�

�118,830�

�

�117,527�

�

�1.1�

�

Deposits

�

�130,315�

�

�125,906�

�

�3.5�

�

�129,077�

�

�128,555�

�

�0.4�

�

Common shareholders' equity

�

�21,940�

�

�19,657�

�

�11.6�

�

�21,317�

�

�19,397�

�

�9.9�

�

Shareholders' equity

�

�24,619�

�

�22,305�

�

�10.4�

�

�23,991�

�

�21,890�

�

�9.6�

�

Period-End Balances

�

Total assets

�186,814�

�

�183,010�

�

�2.1�

�

�186,814�

�

�183,010�

�

�2.1�

Total securities (4)

�

�41,147�

�

�40,205�

�

�2.3�

�

�41,147�

�

�40,205�

�

�2.3�

�

Loans and leases

�

�121,307�

�

�117,139�

�

�3.6�

�

�121,307�

�

�117,139�

�

�3.6�

�

Deposits

�

�129,040�

�

�127,475�

�

�1.2�

�

�129,040�

�

�127,475�

�

�1.2�

�

Common shareholders' equity

�

�21,735�

�

�20,156�

�

�7.8�

�

�21,735�

�

�20,156�

�

�7.8�

�

Shareholders' equity

�

�24,426�

�

�22,809�

�

�7.1�

�

�24,426�

�

�22,809�

�

�7.1�

�

Capital Ratios - Preliminary

�

Risk-based:

�

Tier 1 common equity to risk-weighted assets (1)

�

�10.6�

�

�9.9�

�

�10.6�

�

�9.9�

�

Tier 1

�

�12.4�

�

�11.8�

�

�12.4�

�

�11.8�

�

Total

�

�14.9�

�

�14.3�

�

�14.9�

�

�14.3�

�

Basel III common equity Tier 1, estimated (1)

�

10.3�

�

�9.7�

�

10.3�

�

�9.7�

�

Leverage

�

�9.9�

�

�9.3�

�

�9.9�

�

�9.3�

�

Tangible common equity to tangible assets (1)

�

�8.0�

�

�7.3�

�

�8.0�

�

�7.3�

�

Applicable ratios are annualized.

�

(1)

Tangible common equity per share, Tier 1 common equity to risk-weighted assets, Basel III common equity Tier 1 and tangible common equity to tangible assets 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 certain items as detailed in the Non-GAAP Reconciliations section of this supplement.

(4)

Excludes trading securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.

�

Return to Table of Contents

�

BB&T Corporation

�

Financial Highlights - Five Quarter Trend

�

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

�

Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Summary Income Statement

�

Interest income

�1,554�

�

�1,578�

�

�1,572�

�

�1,582�

�

�1,601�

�

Interest expense

�

�183�

�

�193�

�

�194�

�

�199�

�

�204�

�

Net interest income - taxable equivalent

�

�1,371�

�

�1,385�

�

�1,378�

�

�1,383�

�

�1,397�

�

Less:��Taxable-equivalent adjustment

�

�36�

�

�36�

�

�35�

�

�36�

�

�35�

�

Net interest income��

�

�1,335�

�

�1,349�

�

�1,343�

�

�1,347�

�

�1,362�

�

Provision for credit losses

�

�83�

�

�34�

�

�74�

�

�60�

�

�60�

�

Net interest income after provision for credit losses

�

�1,252�

�

�1,315�

�

�1,269�

�

�1,287�

�

�1,302�

�

Noninterest income

�

�1,004�

�

�936�

�

�933�

�

�911�

�

�985�

�

Noninterest expense

�

�1,411�

�

�1,556�

�

�1,551�

�

�1,403�

�

�1,456�

�

Income before income taxes

�

�845�

�

�695�

�

�651�

�

�795�

�

�831�

�

Provision for income taxes

�

�236�

�

�134�

�

�173�

�

�217�

�

�243�

�

Net income

�

�609�

�

�561�

�

�478�

�

�578�

�

�588�

�

Noncontrolling interests

�

�15�

�

�4�

�

�16�

�

�40�

�

�14�

�

Preferred stock dividends

�

�37�

�

�37�

�

�37�

�

�37�

�

�37�

�

Net income available to common shareholders

�

�557�

�

�520�

�

�425�

�

�501�

�

�537�

�

Per Common Share Data

�

Earnings:

�

Basic

�0.77�

�

�0.72�

�

�0.59�

�

�0.70�

�

�0.76�

�

Diluted

�

�0.76�

�

�0.71�

�

�0.58�

�

�0.69�

�

�0.75�

�

Cash dividends declared

�

�0.24�

�

�0.24�

�

�0.24�

�

�0.23�

�

�0.23�

�

Common equity

�

�30.16�

�

�30.04�

�

�29.57�

�

�29.03�

�

�28.52�

�

Tangible common equity (1)

�

�19.93�

�

�19.77�

�

�19.26�

�

�18.77�

�

�18.08�

�

End of period shares outstanding (in thousands)

�

�720,698�

�

�720,298�

�

�719,584�

�

�718,497�

�

�706,620�

�

Weighted average shares (in thousands):

�

Basic

�

�720,418�

�

�720,117�

�

�719,080�

�

�712,842�

�

�705,485�

�

Diluted

�

�730,652�

�

�729,989�

�

�728,452�

�

�724,283�

�

�717,671�

�

Performance Ratios

�

Return on average assets

�

�1.30�

�

�1.19�

�

�1.04�

�

�1.29�

�

�1.30�

Return on average risk-weighted assets

�

�1.70�

�

�1.58�

�

�1.38�

�

�1.71�

�

�1.70�

�

Return on average common shareholders' equity

�

�10.08�

�

�9.60�

�

�8.03�

�

�9.87�

�

�10.85�

�

Return on average tangible common shareholders' equity (2)

�

�15.57�

�

�15.04�

�

�12.74�

�

�15.81�

�

�17.91�

�

Net interest margin - taxable equivalent

�

�3.36�

�

�3.38�

�

�3.43�

�

�3.52�

�

�3.56�

�

Fee income ratio (3)

�

�45.8�

�

�44.0�

�

�44.0�

�

�43.2�

�

�43.5�

�

Efficiency ratio (3)

�

�56.7�

�

�59.7�

�

�59.8�

�

�59.3�

�

�59.9�

�

Credit Quality

�

Nonperforming assets as a percentage of:

�

Total assets

�

�0.42�

�

�0.50�

�

�0.52�

�

�0.59�

�

�0.64�

�

Loans and leases plus foreclosed property

�

�0.65�

�

�0.79�

�

�0.81�

�

�0.93�

�

�1.01�

�

Net charge-offs as a percentage of average

�

loans and leases��

�

�0.39�

�

�0.48�

�

�0.41�

�

�0.56�

�

�0.49�

�

Allowance for loan and lease losses as a percentage

�

of loans and leases held for investment

�

�1.23�

�

�1.27�

�

�1.33�

�

�1.41�

�

�1.49�

�

Ratio of allowance for loan and lease losses to

�

nonperforming loans and leases held for investment

�

�2.39�

�

�1.92�

�

�1.89�

�

�1.82�

�

�1.85�

Average Balances

�

Total assets

�186,441�

�

�186,309�

�

�185,065�

�

�182,397�

�

�179,534�

�

Total securities (4)

�

�40,817�

�

�40,566�

�

�40,656�

�

�40,117�

�

�37,022�

�

Loans and leases

�

�119,912�

�

�120,471�

�

�118,510�

�

�116,372�

�

�117,001�

�

Deposits

�

�130,315�

�

�130,608�

�

�129,599�

�

�125,718�

�

�125,906�

�

Common shareholders' equity

�

�21,940�

�

�21,508�

�

�21,193�

�

�20,610�

�

�19,657�

�

Total shareholders' equity

�

�24,619�

�

�24,187�

�

�23,876�

�

�23,264�

�

�22,305�

�

Period-End Balances

�

Total assets

�186,814�

�

�187,022�

�

�188,012�

�

�184,651�

�

�183,010�

�

Total securities (4)

�

�41,147�

�

�41,891�

�

�41,368�

�

�41,308�

�

�40,205�

�

Loans and leases

�

�121,307�

�

�120,690�

�

�121,215�

�

�117,632�

�

�117,139�

�

Deposits

�

�129,040�

�

�130,895�

�

�131,586�

�

�127,476�

�

�127,475�

�

Common shareholders' equity

�

�21,735�

�

�21,635�

�

�21,277�

�

�20,859�

�

�20,156�

�

Shareholders' equity

�

�24,426�

�

�24,314�

�

�23,965�

�

�23,556�

�

�22,809�

�

Capital Ratios - Preliminary

�

Risk-based:

�

Tier 1 common equity to risk-weighted assets (1)

�

�10.6�

�

�10.5�

�

�10.2�

�

�10.2�

�

�9.9�

�

Tier 1

�

�12.4�

�

�12.4�

�

�12.1�

�

�12.1�

�

�11.8�

�

Total

�

�14.9�

�

�15.1�

�

�14.4�

�

�14.6�

�

�14.3�

�

Basel III common equity Tier 1, estimated (1)

�

10.3�

�

�10.3�

�

�10.0�

�

�10.0�

�

�9.7�

�

Leverage

�

�9.9�

�

�9.7�

�

�9.5�

�

�9.5�

�

�9.3�

�

Tangible common equity to tangible assets (1)

�

�8.0�

�

�7.9�

�

�7.7�

�

�7.6�

�

�7.3�

�

Applicable ratios are annualized.

(1)

(2)

(3)

Excludes certain items as detailed in the Non-GAAP Reconciliations section of this supplement.

(4)

Excludes trading securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.

Return to Table of Contents

�

BB&T Corporation

�

Consolidated Statements of Income

�

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

�

Quarter Ended

�

Year-to-Date

�

Dec. 31

�

Change

�

Dec. 31

�

Change

�

2014�

�

2013�

�

2014�

�

2013�

�

Interest Income

�

Interest and fees on loans and leases

�1,272�

�

�1,341�

�

�(69)

�(5.1)

�

�5,163�

�

�5,603�

�

�(440)

�(7.9)

�

Interest and dividends on securities

�

�237�

�

�220�

�

�17�

�7.7�

�

�939�

�

�871�

�

�68�

�7.8�

�

Interest on other earning assets

�

�9�

�

�5�

�

�4�

�80.0�

�

�40�

�

�33�

�

�7�

�21.2�

�

Total interest income

�

�1,518�

�

�1,566�

�

�(48)

�(3.1)

�

�6,142�

�

�6,507�

�

�(365)

�(5.6)

�

Interest Expense

�

Interest on deposits

�

�58�

�

�65�

�

�(7)

�(10.8)

�

�239�

�

�301�

�

�(62)

�(20.6)

�

Interest on short-term borrowings

�

�1�

�

�1�

�

��

�

�4�

�

�6�

�

�(2)

�(33.3)

�

Interest on long-term debt

�

�124�

�

�138�

�

�(14)

�(10.1)

�

�525�

�

�584�

�

�(59)

�(10.1)

�

Total interest expense

�

�183�

�

�204�

�

�(21)

�(10.3)

�

�768�

�

�891�

�

�(123)

�(13.8)

�

Net interest income

�

�1,335�

�

�1,362�

�

�(27)

�(2.0)

�

�5,374�

�

�5,616�

�

�(242)

�(4.3)

�

Provision for credit losses

�

�83�

�

�60�

�

�23�

�38.3�

�

�251�

�

�592�

�

�(341)

�(57.6)

�

Net interest income after provision for credit losses

�

�1,252�

�

�1,302�

�

�(50)

�(3.8)

�

�5,123�

�

�5,024�

�

�99�

�2.0�

�

Noninterest income

�

Insurance income

�

�409�

�

�371�

�

�38�

�10.2�

�

�1,643�

�

�1,517�

�

�126�

�8.3�

�

Service charges on deposits

�

�152�

�

�151�

�

�1�

�0.7�

�

�600�

�

�584�

�

�16�

�2.7�

�

Mortgage banking income

�

�128�

�

�100�

�

�28�

�28.0�

�

�395�

�

�565�

�

�(170)

�(30.1)

�

Investment banking and brokerage fees and commissions

�

�112�

�

�101�

�

�11�

�10.9�

�

�387�

�

�383�

�

�4�

�1.0�

�

Bankcard fees and merchant discounts

�

�67�

�

�65�

�

�2�

�3.1�

�

�269�

�

�256�

�

�13�

�5.1�

�

Trust and investment advisory revenues

�

�56�

�

�52�

�

�4�

�7.7�

�

�221�

�

�200�

�

�21�

�10.5�

�

Checkcard fees

�

�52�

�

�50�

�

�2�

�4.0�

�

�203�

�

�199�

�

�4�

�2.0�

�

Income from bank-owned life insurance

�

�30�

�

�32�

�

�(2)

�(6.3)

�

�110�

�

�113�

�

�(3)

�(2.7)

�

FDIC loss share income, net

�

�(84)

�

�(75)

�

�(9)

�12.0�

�

�(343)

�

�(293)

�

�(50)

�17.1�

�

Securities gains (losses), net

�

��

�

�5�

�

�(5)

�(100.0)

�

�(3)

�

�51�

�

�(54)

�(105.9)

�

Other income

�

�82�

�

�133�

�

�(51)

�(38.3)

�

�302�

�

�362�

�

�(60)

�(16.6)

�

Total noninterest income

�

�1,004�

�

�985�

�

�19�

�1.9�

�

�3,784�

�

�3,937�

�

�(153)

�(3.9)

�

Noninterest Expense

�

Personnel expense

�

�794�

�

�827�

�

�(33)

�(4.0)

�

�3,180�

�

�3,293�

�

�(113)

�(3.4)

�

Occupancy and equipment expense

�

�168�

�

�174�

�

�(6)

�(3.4)

�

�682�

�

�692�

�

�(10)

�(1.4)

�

Loan-related expense

�

�89�

�

�64�

�

�25�

�39.1�

�

�342�

�

�255�

�

�87�

�34.1�

�

Professional services

�

�38�

�

�46�

�

�(8)

�(17.4)

�

�139�

�

�189�

�

�(50)

�(26.5)

�

Software expense

�

�45�

�

�43�

�

�2�

�4.7�

�

�174�

�

�158�

�

�16�

�10.1�

�

Regulatory charges

�

�24�

�

�33�

�

�(9)

�(27.3)

�

�106�

�

�143�

�

�(37)

�(25.9)

�

Outside IT services

�

�27�

�

�29�

�

�(2)

�(6.9)

�

�115�

�

�89�

�

�26�

�29.2�

�

Amortization of intangibles

�

�22�

�

�26�

�

�(4)

�(15.4)

�

�91�

�

�106�

�

�(15)

�(14.2)

�

Foreclosed property expense

�

�10�

�

�11�

�

�(1)

�(9.1)

�

�40�

�

�55�

�

�(15)

�(27.3)

�

Merger-related and restructuring charges, net

�

�18�

�

�10�

�

�8�

�80.0�

�

�46�

�

�46�

�

��

�

Loss on early extinguishment of debt

�

��

�

��

�

��

�

�122�

�

��

�

�122�

�

Other expense

�

�176�

�

�193�

�

�(17)

�(8.8)

�

�884�

�

�811�

�

�73�

�9.0�

�

Total noninterest expense

�

�1,411�

�

�1,456�

�

�(45)

�(3.1)

�

�5,921�

�

�5,837�

�

�84�

�1.4�

�

Earnings

�

Income before income taxes

�

�845�

�

�831�

�

�14�

�1.7�

�

�2,986�

�

�3,124�

�

�(138)

�(4.4)

�

Provision for income taxes

�

�236�

�

�243�

�

�(7)

�(2.9)

�

�760�

�

�1,395�

�

�(635)

�(45.5)

�

Net Income

�

�609�

�

�588�

�

�21�

�3.6�

�

�2,226�

�

�1,729�

�

�497�

�28.7�

�

Noncontrolling interests

�

�15�

�

�14�

�

�1�

�7.1�

�

�75�

�

�50�

�

�25�

�50.0�

�

Preferred stock dividends

�

�37�

�

�37�

�

��

�

�148�

�

�117�

�

�31�

�26.5�

�

Net income available to common shareholders

�557�

�

�537�

�

�20�

�3.7�

�

�2,003�

�

�1,562�

�

�441�

�28.2�

�

Earnings Per Common Share

�

Basic

�0.77�

�

�0.76�

�

�0.01�

�1.3�

�

�2.79�

�

�2.22�

�

�0.57�

�25.7�

�

Diluted

�

�0.76�

�

�0.75�

�

�0.01�

�1.3�

�

�2.75�

�

�2.19�

�

�0.56�

�25.6�

�

Weighted Average Shares Outstanding

�

Basic

�

�720,418�

�

�705,485�

�

�14,933�

�2.1�

�

�718,140�

�

�703,042�

�

�15,098�

�2.1�

�

Diluted

�

�730,652�

�

�717,671�

�

�12,981�

�1.8�

�

�728,372�

�

�714,363�

�

�14,009�

�2.0�

�

NM - not meaningful.��

�

Return to Table of Contents

�

BB&T Corporation

�

Consolidated Statements of Income - Five Quarter Trend

�

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

�

Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Interest Income

�

Interest and fees on loans and leases

�1,272�

�

�1,301�

�

�1,295�

�

�1,295�

�

�1,341�

�

Interest and dividends on securities

�

�237�

�

�232�

�

�234�

�

�236�

�

�220�

�

Interest on other earning assets

�

�9�

�

�8�

�

�8�

�

�15�

�

�5�

�

Total interest income

�

�1,518�

�

�1,541�

�

�1,537�

�

�1,546�

�

�1,566�

Interest Expense

�

Interest on deposits

�

�58�

�

�61�

�

�60�

�

�60�

�

�65�

�

Interest on short-term borrowings

�

�1�

�

�1�

�

�1�

�

�1�

�

�1�

�

Interest on long-term debt

�

�124�

�

�130�

�

�133�

�

�138�

�

�138�

�

Total interest expense

�

�183�

�

�192�

�

�194�

�

�199�

�

�204�

Net interest income

�

�1,335�

�

�1,349�

�

�1,343�

�

�1,347�

�

�1,362�

�

Provision for credit losses

�

�83�

�

�34�

�

�74�

�

�60�

�

�60�

Net interest income after provision for credit losses

�

�1,252�

�

�1,315�

�

�1,269�

�

�1,287�

�

�1,302�

Noninterest income

�

Insurance income

�

�409�

�

�385�

�

�422�

�

�427�

�

�371�

�

Service charges on deposits

�

�152�

�

�156�

�

�149�

�

�143�

�

�151�

�

Mortgage banking income

�

�128�

�

�107�

�

�86�

�

�74�

�

�100�

�

Investment banking and brokerage fees and commissions

�

�112�

�

�95�

�

�92�

�

�88�

�

�101�

�

Bankcard fees and merchant discounts

�

�67�

�

�70�

�

�70�

�

�62�

�

�65�

�

Trust and investment advisory revenues

�

�56�

�

�56�

�

�55�

�

�54�

�

�52�

�

Checkcard fees

�

�52�

�

�52�

�

�52�

�

�47�

�

�50�

�

Income from bank-owned life insurance

�

�30�

�

�28�

�

�25�

�

�27�

�

�32�

�

FDIC loss share income, net

�

�(84)

�

�(87)

�

�(88)

�

�(84)

�

�(75)

�

Securities gains (losses), net

�

��

�

�(5)

�

��

�

�2�

�

�5�

�

Other income

�

�82�

�

�79�

�

�70�

�

�71�

�

�133�

�

Total noninterest income

�

�1,004�

�

�936�

�

�933�

�

�911�

�

�985�

Noninterest Expense

�

Personnel expense

�

�794�

�

�795�

�

�809�

�

�782�

�

�827�

�

Occupancy and equipment expense

�

�168�

�

�170�

�

�168�

�

�176�

�

�174�

�

Loan-related expense

�

�89�

�

�84�

�

�100�

�

�69�

�

�64�

�

Professional services

�

�38�

�

�34�

�

�34�

�

�33�

�

�46�

�

Software expense

�

�45�

�

�44�

�

�42�

�

�43�

�

�43�

�

Regulatory charges

�

�24�

�

�23�

�

�30�

�

�29�

�

�33�

�

Outside IT services

�

�27�

�

�30�

�

�31�

�

�27�

�

�29�

�

Amortization of intangibles

�

�22�

�

�23�

�

�23�

�

�23�

�

�26�

�

Foreclosed property expense

�

�10�

�

�11�

�

�10�

�

�9�

�

�11�

�

Merger-related and restructuring charges, net

�

�18�

�

�7�

�

�13�

�

�8�

�

�10�

�

Loss on early extinguishment of debt

�

��

�

�122�

�

��

�

��

�

��

�

Other expense

�

�176�

�

�213�

�

�291�

�

�204�

�

�193�

�

Total noninterest expense

�

�1,411�

�

�1,556�

�

�1,551�

�

�1,403�

�

�1,456�

Earnings

�

Income before income taxes

�

�845�

�

�695�

�

�651�

�

�795�

�

�831�

�

Provision for income taxes

�

�236�

�

�134�

�

�173�

�

�217�

�

�243�

�

Net Income

�

�609�

�

�561�

�

�478�

�

�578�

�

�588�

�

Noncontrolling interests

�

�15�

�

�4�

�

�16�

�

�40�

�

�14�

�

Preferred stock dividends

�

�37�

�

�37�

�

�37�

�

�37�

�

�37�

�

Net income available to common shareholders

�557�

�

�520�

�

�425�

�

�501�

�

�537�

�

Earnings Per Common Share

�

Basic

�0.77�

�

�0.72�

�

�0.59�

�

�0.70�

�

�0.76�

�

Diluted

�

�0.76�

�

�0.71�

�

�0.58�

�

�0.69�

�

�0.75�

�

Weighted Average Shares Outstanding

�

Basic

�

�720,418�

�

�720,117�

�

�719,080�

�

�712,842�

�

�705,485�

�

Diluted

�

�730,652�

�

�729,989�

�

�728,452�

�

�724,283�

�

�717,671�

Return to Table of Contents

�

BB&T Corporation

�

Lines of Business Financial Performance - Five Quarter Trend (1)(2)

�

(Dollars in millions)

�

Quarter Ended

Community Banking

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�435�

�

�437�

�

�430�

�

�424�

�

�432�

Net intersegment interest income (expense)

�

�295�

�

�296�

�

�298�

�

�299�

�

�318�

�

Segment net interest income

�

�730�

�

�733�

�

�728�

�

�723�

�

�750�

Allocated provision (benefit) for credit losses

�

�20�

�

�52�

�

�35�

�

�16�

�

�8�

Noninterest income

�

�314�

�

�322�

�

�316�

�

�295�

�

�311�

Intersegment net referral fees (expense)

�

�32�

�

�31�

�

�29�

�

�26�

�

�31�

Noninterest expense

�

�364�

�

�380�

�

�397�

�

�394�

�

�413�

Amortization of intangibles

�

�7�

�

�6�

�

�8�

�

�8�

�

�8�

Allocated corporate expenses

�

�284�

�

�285�

�

�284�

�

�284�

�

�261�

�

Income (loss) before income taxes

�

�401�

�

�363�

�

�349�

�

�342�

�

�402�

�

Provision (benefit) for income taxes

�

�147�

�

�132�

�

�128�

�

�125�

�

�148�

�

Segment net income (loss)

�254�

�

�231�

�

�221�

�

�217�

�

�254�

�

Identifiable assets (period end)

�55,494�

�

�55,114�

�

�54,707�

�

�55,288�

�

�55,666�

�

Quarter Ended

Residential Mortgage Banking

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�357�

�

�372�

�

�375�

�

�378�

�

�388�

Net intersegment interest income (expense)

�

�(237)

�

�(246)

�

�(250)

�

�(251)

�

�(250)

�

Segment net interest income

�

�120�

�

�126�

�

�125�

�

�127�

�

�138�

Allocated provision (benefit) for credit losses

�

�(38)

�

�(48)

�

�(1)

�

�(20)

�

�18�

Noninterest income

�

�100�

�

�82�

�

�68�

�

�60�

�

�76�

Intersegment net referral fees (expense)

�

�1�

�

��

�

��

�

�1�

�

��

Noninterest expense

�

�105�

�

�107�

�

�206�

�

�86�

�

�98�

Amortization of intangibles

�

��

�

��

�

��

�

��

�

��

Allocated corporate expenses

�

�22�

�

�21�

�

�21�

�

�21�

�

�18�

�

Income (loss) before income taxes

�

�132�

�

�128�

�

�(33)

�

�101�

�

�80�

�

Provision (benefit) for income taxes

�

�50�

�

�48�

�

�(12)

�

�38�

�

�31�

�

Segment net income (loss)

�82�

�

�80�

�

�(21)

�

�63�

�

�49�

�

Identifiable assets (period end)

�34,463�

�

�35,778�

�

�36,448�

�

�36,050�

�

�36,083�

�

Quarter Ended

Dealer Financial Services

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�214�

�

�212�

�

�207�

�

�202�

�

�209�

Net intersegment interest income (expense)

�

�(42)

�

�(41)

�

�(39)

�

�(38)

�

�(39)

�

Segment net interest income

�

�172�

�

�171�

�

�168�

�

�164�

�

�170�

Allocated provision (benefit) for credit losses

�

�80�

�

�53�

�

�31�

�

�73�

�

�57�

Noninterest income

�

�1�

�

��

�

��

�

�1�

�

��

Intersegment net referral fees (expense)

�

��

�

��

�

��

�

��

�

��

Noninterest expense

�

�30�

�

�29�

�

�28�

�

�29�

�

�26�

Amortization of intangibles

�

��

�

��

�

��

�

��

�

��

Allocated corporate expenses

�

�8�

�

�7�

�

�7�

�

�7�

�

�7�

�

Income (loss) before income taxes

�

�55�

�

�82�

�

�102�

�

�56�

�

�80�

�

Provision (benefit) for income taxes

�

�21�

�

�31�

�

�39�

�

�21�

�

�30�

�

Segment net income (loss)

�34�

�

�51�

�

�63�

�

�35�

�

�50�

�

Identifiable assets (period end)

�12,823�

�

�12,514�

�

�12,513�

�

�11,823�

�

�11,525�

�

Quarter Ended

Specialized Lending

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�148�

�

�149�

�

�143�

�

�138�

�

�145�

Net intersegment interest income (expense)

�

�(40)

�

�(38)

�

�(34)

�

�(34)

�

�(31)

�

Segment net interest income

�

�108�

�

�111�

�

�109�

�

�104�

�

�114�

Allocated provision (benefit) for credit losses

�

�13�

�

�4�

�

�13�

�

�9�

�

�5�

Noninterest income

�

�69�

�

�63�

�

�51�

�

�49�

�

�58�

Intersegment net referral fees (expense)

�

��

�

��

�

��

�

��

�

��

Noninterest expense

�

�60�

�

�56�

�

�52�

�

�51�

�

�55�

Amortization of intangibles

�

�2�

�

�1�

�

�1�

�

�1�

�

�1�

Allocated corporate expenses

�

�15�

�

�15�

�

�15�

�

�14�

�

�16�

�

Income (loss) before income taxes

�

�87�

�

�98�

�

�79�

�

�78�

�

�95�

�

Provision (benefit) for income taxes

�

�23�

�

�27�

�

�19�

�

�19�

�

�25�

�

Segment net income (loss)

�64�

�

�71�

�

�60�

�

�59�

�

�70�

�

Identifiable assets (period end)

�18,218�

�

�17,536�

�

�17,666�

�

�16,146�

�

�16,564�

(1)

Lines of business results are preliminary.

(2)

During the first quarter of 2014, approximately $8.3 billion of home equity loans were transferred from Community Banking to Residential Mortgage Banking based on a change in how these loans will be managed as a result of new qualified mortgage regulations. Prior period segment data has been reclassified to conform to the current presentation.

Return to Table of Contents

�

BB&T Corporation

�

Lines of Business Financial Performance - Five Quarter Trend (1)(2)

�

(Dollars in millions)

�

Quarter Ended

Insurance Services

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�1�

�

��

�

�1�

�

��

�

�1�

Net intersegment interest income (expense)

�

�2�

�

�1�

�

�2�

�

�1�

�

�1�

�

Segment net interest income

�

�3�

�

�1�

�

�3�

�

�1�

�

�2�

Allocated provision (benefit) for credit losses

�

��

�

��

�

��

�

��

�

��

Noninterest income

�

�421�

�

�387�

�

�424�

�

�431�

�

�385�

Intersegment net referral fees (expense)

�

��

�

��

�

��

�

��

�

��

Noninterest expense

�

�281�

�

�297�

�

�308�

�

�303�

�

�268�

Amortization of intangibles

�

�13�

�

�13�

�

�14�

�

�13�

�

�15�

Allocated corporate expenses

�

�29�

�

�21�

�

�19�

�

�17�

�

�21�

�

Income (loss) before income taxes

�

�101�

�

�57�

�

�86�

�

�99�

�

�83�

�

Provision (benefit) for income taxes

�

�36�

�

�21�

�

�29�

�

�24�

�

�29�

�

Segment net income (loss)

�65�

�

�36�

�

�57�

�

�75�

�

�54�

�

Identifiable assets (period end)

�2,978�

�

�2,736�

�

�3,015�

�

�3,070�

�

�2,990�

�

Quarter Ended

Financial Services

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�50�

�

�46�

�

�45�

�

�42�

�

�39�

Net intersegment interest income (expense)

�

�70�

�

�66�

�

�63�

�

�64�

�

�69�

�

Segment net interest income

�

�120�

�

�112�

�

�108�

�

�106�

�

�108�

Allocated provision (benefit) for credit losses

�

�18�

�

�4�

�

�3�

�

��

�

�(3)

Noninterest income

�

�218�

�

�186�

�

�189�

�

�177�

�

�205�

Intersegment net referral fees (expense)

�

�12�

�

�8�

�

�7�

�

�6�

�

�9�

Noninterest expense

�

�174�

�

�157�

�

�164�

�

�149�

�

�160�

Amortization of intangibles

�

��

�

�1�

�

��

�

�1�

�

�1�

Allocated corporate expenses

�

�29�

�

�30�

�

�30�

�

�30�

�

�24�

�

Income (loss) before income taxes

�

�129�

�

�114�

�

�107�

�

�109�

�

�140�

�

Provision (benefit) for income taxes

�

�49�

�

�43�

�

�40�

�

�41�

�

�53�

�

Segment net income (loss)

�80�

�

�71�

�

�67�

�

�68�

�

�87�

�

Identifiable assets (period end)

�12,849�

�

�12,033�

�

�11,972�

�

�10,883�

�

�10,001�

�

Quarter Ended

Other, Treasury & Corporate (3)

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�130�

�

�133�

�

�142�

�

�163�

�

�148�

Net intersegment interest income (expense)

�

�(48)

�

�(38)

�

�(40)

�

�(41)

�

�(68)

�

Segment net interest income

�

�82�

�

�95�

�

�102�

�

�122�

�

�80�

Allocated provision (benefit) for credit losses

�

�(10)

�

�(31)

�

�(7)

�

�(18)

�

�(25)

Noninterest income

�

�(119)

�

�(104)

�

�(115)

�

�(102)

�

�(50)

Intersegment net referral fees (expense)

�

�(45)

�

�(39)

�

�(36)

�

�(33)

�

�(40)

Noninterest expense

�

�375�

�

�507�

�

�373�

�

�368�

�

�410�

Amortization of intangibles

�

��

�

�2�

�

��

�

��

�

�1�

Allocated corporate expenses

�

�(387)

�

�(379)

�

�(376)

�

�(373)

�

�(347)

�

Income (loss) before income taxes

�

�(60)

�

�(147)

�

�(39)

�

�10�

�

�(49)

�

Provision (benefit) for income taxes

�

�(90)

�

�(168)

�

�(70)

�

�(51)

�

�(73)

�

Segment net income (loss)

�30�

�

�21�

�

�31�

�

�61�

�

�24�

�

Identifiable assets (period end)

�49,989�

�

�51,311�

�

�51,691�

�

�51,391�

�

�50,181�

�

Quarter Ended

Total BB&T Corporation

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net interest income (expense)

�1,335�

�

�1,349�

�

�1,343�

�

�1,347�

�

�1,362�

Net intersegment interest income (expense)

�

��

�

��

�

��

�

��

�

��

�

Segment net interest income

�

�1,335�

�

�1,349�

�

�1,343�

�

�1,347�

�

�1,362�

Allocated provision (benefit) for credit losses

�

�83�

�

�34�

�

�74�

�

�60�

�

�60�

Noninterest income

�

�1,004�

�

�936�

�

�933�

�

�911�

�

�985�

Intersegment net referral fees (expense)

�

��

�

��

�

��

�

��

�

��

Noninterest expense

�

�1,389�

�

�1,533�

�

�1,528�

�

�1,380�

�

�1,430�

Amortization of intangibles

�

�22�

�

�23�

�

�23�

�

�23�

�

�26�

Allocated corporate expenses

�

��

�

��

�

��

�

��

�

��

�

Income (loss) before income taxes

�

�845�

�

�695�

�

�651�

�

�795�

�

�831�

�

Provision (benefit) for income taxes

�

�236�

�

�134�

�

�173�

�

�217�

�

�243�

�

Segment net income (loss)

�609�

�

�561�

�

�478�

�

�578�

�

�588�

�

Identifiable assets (period end)

�186,814�

�

�187,022�

�

�188,012�

�

�184,651�

�

�183,010�

(1)

Lines of business results are preliminary.

(2)

(3)

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

Return to Table of Contents

�

BB&T Corporation

�

Consolidated Balance Sheets

�

(Dollars in millions)

�

As of December 31

�

Change

�

2014�

�

2013�

�

Assets

�

Cash and due from banks

�1,639�

�

�1,565�

�

�74�

�

�4.7�

�

Interest-bearing deposits with banks

�

�529�

�

�452�

�

�77�

�

�17.0�

�

Federal funds sold and securities purchased under

�

resale agreements or similar arrangements

�

�157�

�

�148�

�

�9�

�

�6.1�

�

Restricted cash

�

�374�

�

�422�

�

�(48)

�

�(11.4)

�

Securities available for sale at fair value (1)

�

�20,907�

�

�22,104�

�

�(1,197)

�

�(5.4)

�

Securities held to maturity

�

�20,240�

�

�18,101�

�

�2,139�

�

�11.8�

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�41,454�

�

�38,508�

�

�2,946�

�

�7.7�

�

Commercial real estateincome producing properties

�

�10,722�

�

�10,228�

�

�494�

�

�4.8�

�

Commercial real estateconstruction and development

�

�2,735�

�

�2,382�

�

�353�

�

�14.8�

�

Direct retail lending (2)

�

�8,146�

�

�15,869�

�

�(7,723)

�

�(48.7)

�

Sales finance

�

�10,600�

�

�9,382�

�

�1,218�

�

�13.0�

�

Revolving credit

�

�2,460�

�

�2,403�

�

�57�

�

�2.4�

�

Residential mortgage (2)

�

�31,090�

�

�24,648�

�

�6,442�

�

�26.1�

�

Other lending subsidiaries

�

�11,462�

�

�10,462�

�

�1,000�

�

�9.6�

�

Total loans and leases held for investment (excluding acquired from FDIC)

�

�118,669�

�

�113,882�

�

�4,787�

�

�4.2�

�

Acquired from FDIC

�

�1,215�

�

�2,035�

�

�(820)

�

�(40.3)

�

Total loans and leases held for investment

�

�119,884�

�

�115,917�

�

�3,967�

�

�3.4�

�

Loans held for sale

�

�1,423�

�

�1,222�

�

�201�

�

�16.4�

�

Total loans and leases

�

�121,307�

�

�117,139�

�

�4,168�

�

�3.6�

�

Allowance for loan and lease losses

�

�(1,474)

�

�(1,732)

�

�258�

�

�(14.9)

�

Premises and equipment

�

�1,827�

�

�1,869�

�

�(42)

�

�(2.2)

�

Goodwill

�

�6,869�

�

�6,814�

�

�55�

�

�0.8�

�

Core deposit and other intangible assets

�

�505�

�

�569�

�

�(64)

�

�(11.2)

�

Residential mortgage servicing rights at fair value

�

�844�

�

�1,047�

�

�(203)

�

�(19.4)

�

Other assets (3)

�

�13,090�

�

�14,512�

�

�(1,422)

�

�(9.8)

�

Total assets

�186,814�

�

�183,010�

�

�3,804�

�

�2.1�

Liabilities and Shareholders' Equity

�

Deposits:

�

Noninterest-bearing deposits

�38,786�

�

�34,972�

�

�3,814�

�

�10.9�

�

Interest checking

�

�20,262�

�

�18,861�

�

�1,401�

�

�7.4�

�

Money market and savings

�

�50,604�

�

�48,687�

�

�1,917�

�

�3.9�

�

Time deposits and IRAs

�

�19,388�

�

�24,955�

�

�(5,567)

�

�(22.3)

�

Total deposits

�

�129,040�

�

�127,475�

�

�1,565�

�

�1.2�

�

Short-term borrowings

�

�3,717�

�

�4,138�

�

�(421)

�

�(10.2)

�

Long-term debt

�

�23,312�

�

�21,493�

�

�1,819�

�

�8.5�

�

Other liabilities

�

�6,319�

�

�7,095�

�

�(776)

�

�(10.9)

�

Total liabilities

�

�162,388�

�

�160,201�

�

�2,187�

�

�1.4�

�

Shareholders' equity:

�

Preferred stock

�

�2,603�

�

�2,603�

�

��

�

��

�

Common stock

�

�3,603�

�

�3,533�

�

�70�

�

�2.0�

�

Additional paid-in capital

�

�6,517�

�

�6,172�

�

�345�

�

�5.6�

�

Retained earnings

�

�12,366�

�

�11,044�

�

�1,322�

�

�12.0�

�

Accumulated other comprehensive loss

�

�(751)

�

�(593)

�

�(158)

�

�26.6�

�

Noncontrolling interests

�

�88�

�

�50�

�

�38�

�

�76.0�

�

Total shareholders' equity

�

�24,426�

�

�22,809�

�

�1,617�

�

�7.1�

�

Total liabilities and shareholders' equity

�186,814�

�

�183,010�

�

�3,804�

�

�2.1�

(1)

Includes securities acquired from the FDIC totaling $1.2 billion and $1.4 billion at December 31, 2014 and 2013, respectively.

(2)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

(3)

Includes $96 million and $163 million of foreclosed property and other assets acquired from the FDIC at December 31, 2014 and 2013, respectively.

Return to Table of Contents

�

BB&T Corporation

�

Consolidated Balance Sheets - Five Quarter Trend

�

(Dollars in millions)

�

As of

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Assets

�

Cash and due from banks

�1,639�

�

�1,439�

�

�1,718�

�

�1,722�

�

�1,565�

�

Interest-bearing deposits with banks

�

�529�

�

�437�

�

�589�

�

�354�

�

�452�

�

Federal funds sold and securities purchased under

�

resale agreements or similar arrangements

�

�157�

�

�141�

�

�141�

�

�144�

�

�148�

�

Restricted cash

�

�374�

�

�292�

�

�292�

�

�363�

�

�422�

�

Securities available for sale at fair value (1)

�

�20,907�

�

�21,174�

�

�20,936�

�

�20,496�

�

�22,104�

�

Securities held to maturity

�

�20,240�

�

�20,717�

�

�20,432�

�

�20,812�

�

�18,101�

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�41,454�

�

�40,048�

�

�40,318�

�

�39,119�

�

�38,508�

�

Commercial real estateincome producing properties

�

�10,722�

�

�10,662�

�

�10,438�

�

�10,411�

�

�10,228�

�

Commercial real estateconstruction and development

�

�2,735�

�

�2,733�

�

�2,634�

�

�2,478�

�

�2,382�

�

Direct retail lending (2)

�

�8,146�

�

�8,042�

�

�7,797�

�

�7,519�

�

�15,869�

�

Sales finance

�

�10,600�

�

�10,269�

�

�10,405�

�

�9,759�

�

�9,382�

�

Revolving credit

�

�2,460�

�

�2,414�

�

�2,391�

�

�2,340�

�

�2,403�

�

Residential mortgage (2)

�

�31,090�

�

�31,813�

�

�32,800�

�

�32,897�

�

�24,648�

�

Other lending subsidiaries

�

�11,462�

�

�11,283�

�

�11,087�

�

�10,186�

�

�10,462�

�

Total loans and leases held for investment (excluding acquired from FDIC)

�

�118,669�

�

�117,264�

�

�117,870�

�

�114,709�

�

�113,882�

�

Acquired from FDIC

�

�1,215�

�

�1,425�

�

�1,653�

�

�1,819�

�

�2,035�

�

Total loans and leases held for investment

�

�119,884�

�

�118,689�

�

�119,523�

�

�116,528�

�

�115,917�

�

Loans held for sale

�

�1,423�

�

�2,001�

�

�1,692�

�

�1,104�

�

�1,222�

�

Total loans and leases

�

�121,307�

�

�120,690�

�

�121,215�

�

�117,632�

�

�117,139�

�

Allowance for loan and lease losses

�

�(1,474)

�

�(1,504)

�

�(1,590)

�

�(1,642)

�

�(1,732)

�

Premises and equipment

�

�1,827�

�

�1,842�

�

�1,857�

�

�1,854�

�

�1,869�

�

Goodwill

�

�6,869�

�

�6,869�

�

�6,868�

�

�6,824�

�

�6,814�

�

Core deposit and other intangible assets

�

�505�

�

�527�

�

�552�

�

�546�

�

�569�

�

Residential mortgage servicing rights at fair value

�

�844�

�

�943�

�

�954�

�

�1,008�

�

�1,047�

�

Other assets (3)

�

�13,090�

�

�13,455�

�

�14,048�

�

�14,538�

�

�14,512�

�

Total assets

�186,814�

�

�187,022�

�

�188,012�

�

�184,651�

�

�183,010�

Liabilities and Shareholders' Equity

�

Deposits:

�

Noninterest-bearing deposits

�38,786�

�

�38,576�

�

�37,398�

�

�36,322�

�

�34,972�

�

Interest checking

�

�20,262�

�

�18,640�

�

�18,557�

�

�18,416�

�

�18,861�

�

Money market and savings

�

�50,604�

�

�50,845�

�

�49,191�

�

�49,072�

�

�48,687�

�

Time deposits and IRAs

�

�19,388�

�

�22,834�

�

�26,440�

�

�23,666�

�

�24,955�

�

Total deposits

�

�129,040�

�

�130,895�

�

�131,586�

�

�127,476�

�

�127,475�

�

Short-term borrowings

�

�3,717�

�

�3,385�

�

�3,979�

�

�3,285�

�

�4,138�

�

Long-term debt

�

�23,312�

�

�22,355�

�

�21,927�

�

�23,384�

�

�21,493�

�

Other liabilities

�

�6,319�

�

�6,073�

�

�6,555�

�

�6,950�

�

�7,095�

�

Total liabilities

�

�162,388�

�

�162,708�

�

�164,047�

�

�161,095�

�

�160,201�

�

Shareholders' equity:

�

Preferred stock

�

�2,603�

�

�2,603�

�

�2,603�

�

�2,603�

�

�2,603�

�

Common stock

�

�3,603�

�

�3,601�

�

�3,598�

�

�3,592�

�

�3,533�

�

Additional paid-in capital

�

�6,517�

�

�6,494�

�

�6,451�

�

�6,385�

�

�6,172�

�

Retained earnings

�

�12,366�

�

�11,982�

�

�11,634�

�

�11,382�

�

�11,044�

�

Accumulated other comprehensive loss

�

�(751)

�

�(442)

�

�(406)

�

�(500)

�

�(593)

�

Noncontrolling interests

�

�88�

�

�76�

�

�85�

�

�94�

�

�50�

�

Total shareholders' equity

�

�24,426�

�

�24,314�

�

�23,965�

�

�23,556�

�

�22,809�

�

Total liabilities and shareholders' equity

�186,814�

�

�187,022�

�

�188,012�

�

�184,651�

�

�183,010�

(1)

Includes securities acquired from the FDIC totaling $1.2 billion, $1.3 billion, $1.3 billion, $1.4 billion and $1.4 billion at December 31, 2014, September 30, 2014, June 30, 2014, March 31, 2014 and December 31, 2013, respectively.

(2)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

(3)

Includes $96 million, $92 million, $98 million, $138 million and $163 million of foreclosed property and other assets acquired from the FDIC at December 31, 2014, September 30, 2014, June 30, 2014, March 31, 2014 and December 31, 2013, respectively.

Return to Table of Contents

�

BB&T Corporation

�

Average Balance Sheets

�

(Dollars in millions)

�

Quarter Ended

�

Year-to-Date

�

December 31

�

Change

�

December 31

�

Change

�

2014�

�

2013�

�

2014�

�

2013�

�

Assets

�

Securities, at amortized cost (1):

�

U.S. Treasury

�2,118�

�

�824�

�

�1,294�

�

�157.0�

�

�1,969�

�

�486�

�

�1,483�

�

U.S. government-sponsored entities (GSE)

�

�5,394�

�

�5,596�

�

�(202)

�

�(3.6)

�

�5,516�

�

�5,032�

�

�484�

�

�9.6�

�

Mortgage-backed securities issued by GSE

�

�29,706�

�

�27,020�

�

�2,686�

�

�9.9�

�

�29,504�

�

�27,598�

�

�1,906�

�

�6.9�

�

States and political subdivisions

�

�1,818�

�

�1,834�

�

�(16)

�

�(0.9)

�

�1,827�

�

�1,836�

�

�(9)

�

�(0.5)

�

Non-agency mortgage-backed

�

�235�

�

�268�

�

�(33)

�

�(12.3)

�

�246�

�

�283�

�

�(37)

�

�(13.1)

�

Other

�

�654�

�

�475�

�

�179�

�

�37.7�

�

�547�

�

�470�

�

�77�

�

�16.4�

�

Acquired from FDIC

�

�892�

�

�1,005�

�

�(113)

�

�(11.2)

�

�932�

�

�1,067�

�

�(135)

�

�(12.7)

�

Total securities

�

�40,817�

�

�37,022�

�

�3,795�

�

�10.3�

�

�40,541�

�

�36,772�

�

�3,769�

�

�10.2�

�

Other earning assets

�

�1,830�

�

�2,022�

�

�(192)

�

�(9.5)

�

�1,881�

�

�2,412�

�

�(531)

�

�(22.0)

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�40,383�

�

�38,101�

�

�2,282�

�

�6.0�

�

�39,537�

�

�38,206�

�

�1,331�

�

�3.5�

�

CREincome producing properties

�

�10,681�

�

�10,031�

�

�650�

�

�6.5�

�

�10,489�

�

�9,916�

�

�573�

�

�5.8�

�

CREconstruction and development

�

�2,772�

�

�2,433�

�

�339�

�

�13.9�

�

�2,616�

�

�2,589�

�

�27�

�

�1.0�

�

Direct retail lending (2)

�

�8,085�

�

�15,998�

�

�(7,913)

�

�(49.5)

�

�8,249�

�

�15,952�

�

�(7,703)

�

�(48.3)

�

Sales finance

�

�10,247�

�

�9,262�

�

�985�

�

�10.6�

�

�10,007�

�

�8,658�

�

�1,349�

�

�15.6�

�

Revolving credit

�

�2,427�

�

�2,357�

�

�70�

�

�3.0�

�

�2,385�

�

�2,303�

�

�82�

�

�3.6�

�

Residential mortgage (2)

�

�31,046�

�

�23,979�

�

�7,067�

�

�29.5�

�

�31,528�

�

�23,598�

�

�7,930�

�

�33.6�

�

Other lending subsidiaries

�

�11,351�

�

�10,448�

�

�903�

�

�8.6�

�

�10,848�

�

�10,468�

�

�380�

�

�3.6�

�

Total loans and leases held for investment

�

(excluding acquired from FDIC)

�

�116,992�

�

�112,609�

�

�4,383�

�

�3.9�

�

�115,659�

�

�111,690�

�

�3,969�

�

�3.6�

�

Acquired from FDIC

�

�1,309�

�

�2,186�

�

�(877)

�

�(40.1)

�

�1,613�

�

�2,667�

�

�(1,054)

�

�(39.5)

�

Total loans and leases held for investment

�

�118,301�

�

�114,795�

�

�3,506�

�

�3.1�

�

�117,272�

�

�114,357�

�

�2,915�

�

�2.5�

�

Loans held for sale

�

�1,611�

�

�2,206�

�

�(595)

�

�(27.0)

�

�1,558�

�

�3,170�

�

�(1,612)

�

�(50.9)

�

Total loans and leases

�

�119,912�

�

�117,001�

�

�2,911�

�

�2.5�

�

�118,830�

�

�117,527�

�

�1,303�

�

�1.1�

�

Total earning assets

�

�162,559�

�

�156,045�

�

�6,514�

�

�4.2�

�

�161,252�

�

�156,711�

�

�4,541�

�

�2.9�

�

Nonearning assets

�

�23,882�

�

�23,489�

�

�393�

�

�1.7�

�

�23,816�

�

�24,551�

�

�(735)

�

�(3.0)

�

Total assets

�186,441�

�

�179,534�

�

�6,907�

�

�3.8�

�

�185,068�

�

�181,262�

�

�3,806�

�

�2.1�

Liabilities and Shareholders' Equity

�

Deposits:

�

Noninterest-bearing deposits

�39,130�

�

�35,347�

�

�3,783�

�

�10.7�

�

�37,327�

�

�33,932�

�

�3,395�

�

�10.0�

�

Interest checking

�

�19,308�

�

�18,969�

�

�339�

�

�1.8�

�

�18,731�

�

�19,305�

�

�(574)

�

�(3.0)

�

Money market and savings

�

�51,176�

�

�49,298�

�

�1,878�

�

�3.8�

�

�49,728�

�

�48,640�

�

�1,088�

�

�2.2�

�

Time deposits and IRAs

�

�20,041�

�

�21,580�

�

�(1,539)

�

�(7.1)

�

�22,569�

�

�26,006�

�

�(3,437)

�

�(13.2)

�

Foreign office deposits - interest-bearing

�

�660�

�

�712�

�

�(52)

�

�(7.3)

�

�722�

�

�672�

�

�50�

�

�7.4�

�

Total deposits

�

�130,315�

�

�125,906�

�

�4,409�

�

�3.5�

�

�129,077�

�

�128,555�

�

�522�

�

�0.4�

�

Short-term borrowings

�

�3,095�

�

�3,865�

�

�(770)

�

�(19.9)

�

�3,421�

�

�4,459�

�

�(1,038)

�

�(23.3)

�

Long-term debt

�

�22,139�

�

�20,756�

�

�1,383�

�

�6.7�

�

�22,210�

�

�19,301�

�

�2,909�

�

�15.1�

�

Other liabilities

�

�6,273�

�

�6,702�

�

�(429)

�

�(6.4)

�

�6,369�

�

�7,057�

�

�(688)

�

�(9.7)

�

Total liabilities

�

�161,822�

�

�157,229�

�

�4,593�

�

�2.9�

�

�161,077�

�

�159,372�

�

�1,705�

�

�1.1�

�

Shareholders' equity

�

�24,619�

�

�22,305�

�

�2,314�

�

�10.4�

�

�23,991�

�

�21,890�

�

�2,101�

�

�9.6�

�

Total liabilities and shareholders' equity

�186,441�

�

�179,534�

�

�6,907�

�

�3.8�

�

�185,068�

�

�181,262�

�

�3,806�

�

�2.1�

Average balances exclude basis adjustments for fair value hedges.

(1)

Excludes trading securities.

(2)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

NM - not meaningful.��

Return to Table of Contents

�

BB&T Corporation

�

Average Balance Sheets - Five Quarter Trend

�

(Dollars in millions)

�

Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Assets

�

Securities, at amortized cost (1):

�

U.S. Treasury

�2,118�

�

�2,183�

�

�1,932�

�

�1,634�

�

�824�

�

U.S. government-sponsored entities (GSE)

�

�5,394�

�

�5,465�

�

�5,604�

�

�5,603�

�

�5,596�

�

Mortgage-backed securities issued by GSE

�

�29,706�

�

�29,340�

�

�29,627�

�

�29,339�

�

�27,020�

�

States and political subdivisions

�

�1,818�

�

�1,825�

�

�1,831�

�

�1,833�

�

�1,834�

�

Non-agency mortgage-backed

�

�235�

�

�242�

�

�250�

�

�259�

�

�268�

�

Other

�

�654�

�

�592�

�

�464�

�

�477�

�

�475�

�

Acquired from FDIC

�

�892�

�

�919�

�

�948�

�

�972�

�

�1,005�

�

Total securities

�

�40,817�

�

�40,566�

�

�40,656�

�

�40,117�

�

�37,022�

�

Other earning assets

�

�1,830�

�

�1,842�

�

�1,977�

�

�1,875�

�

�2,022�

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�40,383�

�

�39,906�

�

�39,397�

�

�38,435�

�

�38,101�

�

Commercial real estateincome producing properties

�

�10,681�

�

�10,596�

�

�10,382�

�

�10,293�

�

�10,031�

�

Commercial real estateconstruction and development

�

�2,772�

�

�2,670�

�

�2,566�

�

�2,454�

�

�2,433�

�

Direct retail lending (2)

�

�8,085�

�

�7,912�

�

�7,666�

�

�9,349�

�

�15,998�

�

Sales finance

�

�10,247�

�

�10,313�

�

�10,028�

�

�9,428�

�

�9,262�

�

Revolving credit

�

�2,427�

�

�2,396�

�

�2,362�

�

�2,357�

�

�2,357�

�

Residential mortgage (2)

�

�31,046�

�

�32,000�

�

�32,421�

�

�30,635�

�

�23,979�

�

Other lending subsidiaries

�

�11,351�

�

�11,234�

�

�10,553�

�

�10,236�

�

�10,448�

�

Total loans and leases held for investment (excluding acquired from FDIC)

�

�116,992�

�

�117,027�

�

�115,375�

�

�113,187�

�

�112,609�

�

Acquired from FDIC

�

�1,309�

�

�1,537�

�

�1,739�

�

�1,874�

�

�2,186�

�

Total loans and leases held for investment

�

�118,301�

�

�118,564�

�

�117,114�

�

�115,061�

�

�114,795�

�

Loans held for sale

�

�1,611�

�

�1,907�

�

�1,396�

�

�1,311�

�

�2,206�

�

Total loans and leases

�

�119,912�

�

�120,471�

�

�118,510�

�

�116,372�

�

�117,001�

�

Total earning assets

�

�162,559�

�

�162,879�

�

�161,143�

�

�158,364�

�

�156,045�

�

Nonearning assets

�

�23,882�

�

�23,430�

�

�23,922�

�

�24,033�

�

�23,489�

�

Total assets

�186,441�

�

�186,309�

�

�185,065�

�

�182,397�

�

�179,534�

Liabilities and Shareholders' Equity

�

Deposits:

�

Noninterest-bearing deposits

�39,130�

�

�38,103�

�

�36,634�

�

�35,392�

�

�35,347�

�

Interest checking

�

�19,308�

�

�18,588�

�

�18,406�

�

�18,615�

�

�18,969�

�

Money market and savings

�

�51,176�

�

�49,974�

�

�48,965�

�

�48,767�

�

�49,298�

�

Time deposits and IRAs

�

�20,041�

�

�23,304�

�

�25,010�

�

�21,935�

�

�21,580�

�

Foreign office deposits - interest-bearing

�

�660�

�

�639�

�

�584�

�

�1,009�

�

�712�

�

Total deposits

�

�130,315�

�

�130,608�

�

�129,599�

�

�125,718�

�

�125,906�

�

Short-term borrowings

�

�3,095�

�

�3,321�

�

�2,962�

�

�4,321�

�

�3,865�

�

Long-term debt

�

�22,139�

�

�22,069�

�

�22,206�

�

�22,432�

�

�20,756�

�

Other liabilities

�

�6,273�

�

�6,124�

�

�6,422�

�

�6,662�

�

�6,702�

�

Total liabilities

�

�161,822�

�

�162,122�

�

�161,189�

�

�159,133�

�

�157,229�

�

Shareholders' equity

�

�24,619�

�

�24,187�

�

�23,876�

�

�23,264�

�

�22,305�

�

Total liabilities and shareholders' equity

�186,441�

�

�186,309�

�

�185,065�

�

�182,397�

�

�179,534�

Average balances exclude basis adjustments for fair value hedges.

(1)

Excludes trading securities.

(2)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

Return to Table of Contents

�

BB&T Corporation

�

Average Balances and Rates - Quarters

�

(Dollars in millions)

�

Quarter Ended

�

December 31, 2014

�

September 30, 2014

�

(1)

�

Interest

(2)

�

(1)

�

Interest

(2)

�

Average

�

Income/

Yields/

�

Average

�

Income/

Yields/

�

Balances

�

Expense

Rates

�

Balances

�

Expense

Rates

Assets

�

Securities, at amortized cost (3):

�

U.S. Treasury

�2,118�

�

�9�

�1.54�

�

�2,183�

�

�8�

�1.48�

�

U.S. government-sponsored entities (GSE)

�

�5,394�

�

�29�

�2.13�

�

�5,465�

�

�29�

�2.12�

�

Mortgage-backed securities issued by GSE

�

�29,706�

�

�148�

�2.01�

�

�29,340�

�

�145�

�1.98�

�

States and political subdivisions

�

�1,818�

�

�27�

�5.81�

�

�1,825�

�

�26�

�5.78�

�

Non-agency mortgage-backed

�

�235�

�

�5�

�7.81�

�

�242�

�

�5�

�7.77�

�

Other

�

�654�

�

�2�

�1.42�

�

�592�

�

�2�

�1.33�

�

Acquired from FDIC

�

�892�

�

�31�

�13.77�

�

�919�

�

�31�

�13.24�

�

Total securities

�

�40,817�

�

�251�

�2.45�

�

�40,566�

�

�246�

�2.43�

�

Other earning assets

�

�1,830�

�

�9�

�1.92�

�

�1,842�

�

�8�

�1.71�

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�40,383�

�

�332�

�3.27�

�

�39,906�

�

�336�

�3.35�

�

Commercial real estateincome producing properties

�

�10,681�

�

�93�

�3.43�

�

�10,596�

�

�92�

�3.44�

�

Commercial real estateconstruction and development

�

�2,772�

�

�24�

�3.38�

�

�2,670�

�

�23�

�3.46�

�

Direct retail lending

�

�8,085�

�

�78�

�3.89�

�

�7,912�

�

�81�

�3.98�

�

Sales finance

�

�10,247�

�

�69�

�2.67�

�

�10,313�

�

�69�

�2.67�

�

Revolving credit

�

�2,427�

�

�54�

�8.72�

�

�2,396�

�

�52�

�8.67�

�

Residential mortgage

�

�31,046�

�

�324�

�4.17�

�

�32,000�

�

�334�

�4.16�

�

Other lending subsidiaries

�

�11,351�

�

�252�

�8.81�

�

�11,234�

�

�251�

�8.88�

�

Total loans and leases held for investment

�

(excluding acquired from FDIC)

�

�116,992�

�

�1,226�

�4.17�

�

�117,027�

�

�1,238�

�4.20�

�

Acquired from FDIC

�

�1,309�

�

�52�

�15.93�

�

�1,537�

�

�67�

�17.12�

�

Total loans and leases held for investment

�

�118,301�

�

�1,278�

�4.30�

�

�118,564�

�

�1,305�

�4.37�

�

Loans held for sale

�

�1,611�

�

�16�

�3.91�

�

�1,907�

�

�19�

�4.23�

�

Total loans and leases

�

�119,912�

�

�1,294�

�4.29�

�

�120,471�

�

�1,324�

�4.37�

�

Total earning assets

�

�162,559�

�

�1,554�

�3.80�

�

�162,879�

�

�1,578�

�3.85�

�

Nonearning assets

�

�23,882�

�

�23,430�

�

Total assets

�186,441�

�

�186,309�

�

Liabilities and Shareholders' Equity

�

Interest-bearing deposits:

�

Interest checking

�19,308�

�

�4�

�0.07�

�

�18,588�

�

�3�

�0.07�

�

Money market and savings

�

�51,176�

�

�21�

�0.17�

�

�49,974�

�

�20�

�0.16�

�

Time deposits and IRAs

�

�20,041�

�

�32�

�0.66�

�

�23,304�

�

�38�

�0.64�

�

Foreign office deposits - interest-bearing

�

�660�

�

�1�

�0.08�

�

�639�

�

��

�0.07�

�

Total interest-bearing deposits

�

�91,185�

�

�58�

�0.25�

�

�92,505�

�

�61�

�0.26�

�

Short-term borrowings

�

�3,095�

�

�1�

�0.14�

�

�3,321�

�

�2�

�0.14�

�

Long-term debt

�

�22,139�

�

�124�

�2.22�

�

�22,069�

�

�130�

�2.36�

�

Total interest-bearing liabilities

�

�116,419�

�

�183�

�0.62�

�

�117,895�

�

�193�

�0.65�

�

Noninterest-bearing deposits

�

�39,130�

�

�38,103�

�

Other liabilities

�

�6,273�

�

�6,124�

�

Shareholders' equity

�

�24,619�

�

�24,187�

�

Total liabilities and shareholders' equity

�186,441�

�

�186,309�

�

Average interest-rate spread

�

�3.18�

�

�3.20�

�

Net interest income/ net interest margin

�

�1,371�

�3.36�

�

�1,385�

�3.38�

�

Taxable-equivalent adjustment

�

�36�

�

�36�

�

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.

Return to Table of Contents

�

BB&T Corporation

�

Average Balances and Rates - Quarters

�

(Dollars in millions)

�

Quarter Ended

�

June 30, 2014

�

March 31, 2014

�

December 31, 2013

�

(1)

�

Interest

(2)

�

(1)

�

Interest

(2)

�

(1)

�

Interest

(2)

�

Average

�

Income/

Yields/

�

Average

�

Income/

Yields/

�

Average

�

Income/

Yields/

�

Balances

�

Expense

Rates

�

Balances

�

Expense

Rates

�

Balances

�

Expense

Rates

Assets

�

Securities, at amortized cost (3):

�

U.S. Treasury

�1,932�

�

�7�

�1.50�

�

�1,634�

�

�6�

�1.50�

�

�824�

�

�2�

�0.70�

�

U.S. government-sponsored entities (GSE)

�

�5,604�

�

�29�

�2.08�

�

�5,603�

�

�29�

�2.09�

�

�5,596�

�

�29�

�2.10�

�

Mortgage-backed securities issued by GSE

�

�29,627�

�

�146�

�1.97�

�

�29,339�

�

�150�

�2.04�

�

�27,020�

�

�142�

�2.11�

�

States and political subdivisions

�

�1,831�

�

�27�

�5.78�

�

�1,833�

�

�26�

�5.77�

�

�1,834�

�

�27�

�5.82�

�

Non-agency mortgage-backed

�

�250�

�

�4�

�7.65�

�

�259�

�

�5�

�6.99�

�

�268�

�

�4�

�5.87�

�

Other

�

�464�

�

�2�

�1.46�

�

�477�

�

�2�

�1.57�

�

�475�

�

�2�

�1.42�

�

Acquired from FDIC

�

�948�

�

�32�

�13.56�

�

�972�

�

�31�

�12.86�

�

�1,005�

�

�28�

�11.17�

�

Total securities

�

�40,656�

�

�247�

�2.43�

�

�40,117�

�

�249�

�2.48�

�

�37,022�

�

�234�

�2.52�

�

Other earning assets

�

�1,977�

�

�8�

�1.60�

�

�1,875�

�

�15�

�3.30�

�

�2,022�

�

�5�

�0.91�

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�39,397�

�

�332�

�3.38�

�

�38,435�

�

�325�

�3.43�

�

�38,101�

�

�336�

�3.50�

�

CREincome producing properties

�

�10,382�

�

�90�

�3.50�

�

�10,293�

�

�91�

�3.57�

�

�10,031�

�

�91�

�3.60�

�

CREconstruction and development

�

�2,566�

�

�23�

�3.57�

�

�2,454�

�

�22�

�3.64�

�

�2,433�

�

�23�

�3.84�

�

Direct retail lending (4)

�

�7,666�

�

�80�

�4.24�

�

�9,349�

�

�99�

�4.28�

�

�15,998�

�

�183�

�4.50�

�

Sales finance

�

�10,028�

�

�67�

�2.67�

�

�9,428�

�

�66�

�2.84�

�

�9,262�

�

�69�

�2.95�

�

Revolving credit

�

�2,362�

�

�51�

�8.64�

�

�2,357�

�

�51�

�8.78�

�

�2,357�

�

�51�

�8.64�

�

Residential mortgage (4)

�

�32,421�

�

�342�

�4.22�

�

�30,635�

�

�325�

�4.26�

�

�23,979�

�

�250�

�4.18�

�

Other lending subsidiaries

�

�10,553�

�

�244�

�9.26�

�

�10,236�

�

�238�

�9.42�

�

�10,448�

�

�247�

�9.40�

�

Total loans and leases held for investment

�

(excluding acquired from FDIC)

�

�115,375�

�

�1,229�

�4.27�

�

�113,187�

�

�1,217�

�4.34�

�

�112,609�

�

�1,250�

�4.41�

�

Acquired from FDIC

�

�1,739�

�

�73�

�16.77�

�

�1,874�

�

�86�

�18.65�

�

�2,186�

�

�89�

�16.28�

�

Total loans and leases held for investment

�

�117,114�

�

�1,302�

�4.46�

�

�115,061�

�

�1,303�

�4.58�

�

�114,795�

�

�1,339�

�4.64�

�

Loans held for sale

�

�1,396�

�

�15�

�4.21�

�

�1,311�

�

�15�

�4.46�

�

�2,206�

�

�23�

�4.19�

�

Total loans and leases

�

�118,510�

�

�1,317�

�4.45�

�

�116,372�

�

�1,318�

�4.58�

�

�117,001�

�

�1,362�

�4.63�

�

Total earning assets

�

�161,143�

�

�1,572�

�3.91�

�

�158,364�

�

�1,582�

�4.03�

�

�156,045�

�

�1,601�

�4.08�

�

Nonearning assets

�

�23,922�

�

�24,033�

�

�23,489�

�

Total assets

�185,065�

�

�182,397�

�

�179,534�

�

Liabilities and Shareholders' Equity

�

Interest-bearing deposits:

�

Interest checking

�18,406�

�

�3�

�0.06�

�

�18,615�

�

�3�

�0.07�

�

�18,969�

�

�3�

�0.07�

�

Money market and savings

�

�48,965�

�

�18�

�0.14�

�

�48,767�

�

�15�

�0.13�

�

�49,298�

�

�16�

�0.12�

�

Time deposits and IRAs

�

�25,010�

�

�39�

�0.64�

�

�21,935�

�

�42�

�0.75�

�

�21,580�

�

�45�

�0.83�

�

Foreign office deposits - interest-bearing

�

�584�

�

��

�0.08�

�

�1,009�

�

��

�0.06�

�

�712�

�

�1�

�0.06�

�

Total interest-bearing deposits

�

�92,965�

�

�60�

�0.26�

�

�90,326�

�

�60�

�0.27�

�

�90,559�

�

�65�

�0.28�

�

Short-term borrowings

�

�2,962�

�

�1�

�0.16�

�

�4,321�

�

�1�

�0.11�

�

�3,865�

�

�1�

�0.14�

�

Long-term debt

�

�22,206�

�

�133�

�2.38�

�

�22,432�

�

�138�

�2.49�

�

�20,756�

�

�138�

�2.64�

�

Total interest-bearing liabilities

�

�118,133�

�

�194�

�0.66�

�

�117,079�

�

�199�

�0.69�

�

�115,180�

�

�204�

�0.70�

�

Noninterest-bearing deposits

�

�36,634�

�

�35,392�

�

�35,347�

�

Other liabilities

�

�6,422�

�

�6,662�

�

�6,702�

�

Shareholders' equity

�

�23,876�

�

�23,264�

�

�22,305�

�

Total liabilities and shareholders' equity

�185,065�

�

�182,397�

�

�179,534�

�

Average interest-rate spread

�

�3.25�

�

�3.34�

�

�3.38�

�

Net interest income/ net interest margin

�

�1,378�

�3.43�

�

�1,383�

�3.52�

�

�1,397�

�3.56�

�

Taxable-equivalent adjustment

�

�35�

�

�36�

�

�35�

�

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.

(4)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

Return to Table of Contents

�

BB&T Corporation

�

Average Balances and Rates - Year-To-Date

�

(Dollars in millions)

�

Year-to-Date

�

December 31, 2014

�

December 31, 2013

�

(1)

�

Interest

(2)

�

(1)

�

Interest

(2)

�

Average

�

Income/

Yields/

�

Average

�

Income/

Yields/

�

Balances

�

Expense

Rates

�

Balances

�

Expense

Rates

Assets

�

Securities, at amortized cost (3):

�

U.S. Treasury

�1,969�

�

�30�

�1.51�

�

�486�

�

�2�

�0.42�

�

U.S. government-sponsored entities (GSE)

�

�5,516�

�

�116�

�2.10�

�

�5,032�

�

�103�

�2.04�

�

Mortgage-backed securities issued by GSE

�

�29,504�

�

�589�

�2.00�

�

�27,598�

�

�552�

�2.00�

�

States and political subdivisions

�

�1,827�

�

�106�

�5.78�

�

�1,836�

�

�107�

�5.80�

�

Non-agency mortgage-backed

�

�246�

�

�19�

�7.55�

�

�283�

�

�16�

�5.69�

�

Other

�

�547�

�

�8�

�1.43�

�

�470�

�

�7�

�1.45�

�

Acquired from FDIC

�

�932�

�

�125�

�13.35�

�

�1,067�

�

�137�

�12.82�

�

Total securities

�

�40,541�

�

�993�

�2.45�

�

�36,772�

�

�924�

�2.51�

�

Other earning assets

�

�1,881�

�

�40�

�2.13�

�

�2,412�

�

�34�

�1.39�

�

Loans and leases:

�

Commercial:

�

Commercial and industrial

�

�39,537�

�

�1,325�

�3.35�

�

�38,206�

�

�1,386�

�3.63�

�

Commercial real estateincome producing properties

�

�10,489�

�

�366�

�3.49�

�

�9,916�

�

�368�

�3.72�

�

Commercial real estateconstruction and development

�

�2,616�

�

�92�

�3.51�

�

�2,589�

�

�100�

�3.86�

�

Direct retail lending (4)

�

�8,249�

�

�338�

�4.10�

�

�15,952�

�

�741�

�4.64�

�

Sales finance

�

�10,007�

�

�271�

�2.71�

�

�8,658�

�

�275�

�3.18�

�

Revolving credit

�

�2,385�

�

�208�

�8.70�

�

�2,303�

�

�197�

�8.56�

�

Residential mortgage (4)

�

�31,528�

�

�1,325�

�4.20�

�

�23,598�

�

�996�

�4.22�

�

Other lending subsidiaries

�

�10,848�

�

�985�

�9.08�

�

�10,468�

�

�1,068�

�10.20�

�

Total loans and leases held for investment

�

(excluding acquired from FDIC)

�

�115,659�

�

�4,910�

�4.25�

�

�111,690�

�

�5,131�

�4.59�

�

Acquired from FDIC

�

�1,613�

�

�278�

�17.22�

�

�2,667�

�

�451�

�16.93�

�

Total loans and leases held for investment

�

�117,272�

�

�5,188�

�4.42�

�

�114,357�

�

�5,582�

�4.88�

�

Loans held for sale

�

�1,558�

�

�65�

�4.19�

�

�3,170�

�

�114�

�3.59�

�

Total loans and leases

�

�118,830�

�

�5,253�

�4.42�

�

�117,527�

�

�5,696�

�4.85�

�

Total earning assets

�

�161,252�

�

�6,286�

�3.90�

�

�156,711�

�

�6,654�

�4.25�

�

Nonearning assets

�

�23,816�

�

�24,551�

�

Total assets

�185,068�

�

�181,262�

�

Liabilities and Shareholders' Equity

�

Interest-bearing deposits:

�

Interest checking

�18,731�

�

�13�

�0.07�

�

�19,305�

�

�15�

�0.08�

�

Money market and savings

�

�49,728�

�

�74�

�0.15�

�

�48,640�

�

�64�

�0.13�

�

Time deposits and IRAs

�

�22,569�

�

�151�

�0.67�

�

�26,006�

�

�221�

�0.85�

�

Foreign office deposits - interest-bearing

�

�722�

�

�1�

�0.07�

�

�672�

�

�1�

�0.08�

�

Total interest-bearing deposits

�

�91,750�

�

�239�

�0.26�

�

�94,623�

�

�301�

�0.32�

�

Short-term borrowings

�

�3,421�

�

�5�

�0.13�

�

�4,459�

�

�7�

�0.16�

�

Long-term debt

�

�22,210�

�

�525�

�2.36�

�

�19,301�

�

�584�

�3.03�

�

Total interest-bearing liabilities

�

�117,381�

�

�769�

�0.65�

�

�118,383�

�

�892�

�0.75�

�

Noninterest-bearing deposits

�

�37,327�

�

�33,932�

�

Other liabilities

�

�6,369�

�

�7,057�

�

Shareholders' equity

�

�23,991�

�

�21,890�

�

Total liabilities and shareholders' equity

�185,068�

�

�181,262�

�

Average interest-rate spread

�

�3.25�

�

�3.50�

�

Net interest income/ net interest margin

�

�5,517�

�3.42�

�

�5,762�

�3.68�

�

Taxable-equivalent adjustment

�

�143�

�

�146�

�

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.

(4)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

Return to Table of Contents

�

BB&T Corporation

�

Credit Quality

�

(Dollars in millions)

�

As of

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Nonperforming assets (1)

�

Nonaccrual loans and leases:

�

Commercial:

�

Commercial and industrial

�239�

�

�259�

�

�298�

�

�334�

�

�363�

�

Commercial real estateincome producing properties

�

�74�

�

�81�

�

�84�

�

�98�

�

�113�

�

Commercial real estateconstruction and development

�

�26�

�

�37�

�

�38�

�

�49�

�

�51�

�

Direct retail lending (2)

�

�48�

�

�50�

�

�49�

�

�52�

�

�109�

�

Sales finance

�

�5�

�

�5�

�

�5�

�

�4�

�

�5�

�

Residential mortgage (2)(3)

�

�166�

�

�298�

�

�320�

�

�319�

�

�243�

�

Other lending subsidiaries

�

�58�

�

�54�

�

�47�

�

�47�

�

�51�

�

Total nonaccrual loans and leases held for investment (3)

�

�616�

�

�784�

�

�841�

�

�903�

�

�935�

�

Foreclosed real estate

�

�87�

�

�75�

�

�56�

�

�59�

�

�71�

�

Foreclosed real estate-acquired from FDIC

�

�56�

�

�56�

�

�56�

�

�98�

�

�121�

�

Other foreclosed property

�

�23�

�

�24�

�

�19�

�

�24�

�

�47�

�

Total nonperforming assets (3)

�782�

�

�939�

�

�972�

�

�1,084�

�

�1,174�

Performing troubled debt restructurings (TDRs) (4)

�

Commercial:

�

Commercial and industrial

�64�

�

�90�

�

�86�

�

�76�

�

�77�

�

Commercial real estateincome producing properties

�

�27�

�

�25�

�

�27�

�

�42�

�

�50�

�

Commercial real estateconstruction and development

�

�30�

�

�28�

�

�30�

�

�32�

�

�39�

�

Direct retail lending (2)

�

�84�

�

�89�

�

�91�

�

�93�

�

�187�

�

Sales finance

�

�19�

�

�20�

�

�18�

�

�19�

�

�17�

�

Revolving credit

�

�41�

�

�44�

�

�46�

�

�47�

�

�48�

�

Residential mortgagenonguaranteed (2)(5)

�

�261�

�

�254�

�

�814�

�

�836�

�

�785�

�

Residential mortgagegovernment guaranteed

�

�360�

�

�437�

�

�433�

�

�387�

�

�376�

�

Other lending subsidiaries

�

�164�

�

�151�

�

�141�

�

�132�

�

�126�

�

Total performing TDRs (5)

�1,050�

�

�1,138�

�

�1,686�

�

�1,664�

�

�1,705�

Loans 90 days or more past due and still accruing

�

Direct retail lending (2)

�12�

�

�13�

�

�11�

�

�10�

�

�33�

�

Sales finance

�

�5�

�

�5�

�

�3�

�

�4�

�

�5�

�

Revolving credit

�

�9�

�

�10�

�

�8�

�

�9�

�

�10�

�

Residential mortgagenonguaranteed (2)

�

�83�

�

�79�

�

�80�

�

�76�

�

�69�

�

Residential mortgagegovernment guaranteed (6)

�

�238�

�

�232�

�

�254�

�

�305�

�

�296�

�

Other lending subsidiaries

�

��

�

��

�

��

�

�4�

�

�5�

�

Acquired from FDIC

�

�188�

�

�229�

�

�249�

�

�258�

�

�304�

�

Total loans 90 days past due and still accruing (6)

�535�

�

�568�

�

�605�

�

�666�

�

�722�

Loans 30-89 days past due

�

Commercial:

�

Commercial and industrial

�23�

�

�19�

�

�21�

�

�26�

�

�35�

�

Commercial real estateincome producing properties

�

�4�

�

�5�

�

�7�

�

�14�

�

�8�

�

Commercial real estateconstruction and development

�

�1�

�

�1�

�

�2�

�

�3�

�

�2�

�

Direct retail lending (2)

�

�41�

�

�40�

�

�41�

�

�50�

�

�132�

�

Sales finance

�

�62�

�

�55�

�

�49�

�

�45�

�

�56�

�

Revolving credit

�

�23�

�

�22�

�

�20�

�

�21�

�

�23�

�

Residential mortgagenonguaranteed (2)

�

�392�

�

�424�

�

�513�

�

�485�

�

�454�

�

Residential mortgagegovernment guaranteed (7)

�

�80�

�

�95�

�

�87�

�

�73�

�

�88�

�

Other lending subsidiaries

�

�237�

�

�217�

�

�197�

�

�133�

�

�221�

�

Acquired from FDIC

�

�33�

�

�41�

�

�84�

�

�85�

�

�88�

�

Total loans 30-89 days past due (7)

�896�

�

�919�

�

�1,021�

�

�935�

�

�1,107�

Excludes loans held for sale.

(1)

Loans acquired from the FDIC are considered to be performing due to the application of the accretion method.

(2)

During the first quarter of 2014, approximately $55 million of nonaccrual loans, $94 million of performing TDRs, $22 million of loans 90 days or more past due and $83 million of loans 30-89 days past due were transferred from direct retail lending to residential mortgage.

(3)

During the fourth quarter of 2014, approximately $121 million of nonaccrual residential mortgage loans were sold.

(4)

Excludes TDRs that are nonperforming totaling $126 million, $207 million, $192 million, $213 million, and $193 million at December 31, 2014, September 30, 2014, June 30, 2014, March 31, 2014 and December 31, 2013, respectively. These amounts are included in total nonperforming assets.

(5)

During the third quarter of 2014, approximately $540 million of performing residential mortgage TDRs were sold.

(6)

Excludes government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase that are past due 90 days or more totaling $410 million, $395 million, $423 million, $486 million and $511 million at December 31, 2014, September 30, 2014, June 30, 2014, March 31, 2014 and December 31, 2013, respectively.

(7)

Excludes government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase that are past due 30-89 days totaling $2 million, $4 million, $3 million, $2 million and $4 million at December 31, 2014, September 30, 2014, June 30, 2014, March 31, 2014 and December 31, 2013, respectively.

Return to Table of Contents

�

BB&T Corporation

�

Credit Quality

�

(Dollars in millions)

�

As of/For the Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Allowance for credit losses

�

Beginning balance

�1,567�

�

�1,675�

�

�1,722�

�

�1,821�

�

�1,930�

�

Provision for credit losses (excluding loans acquired from the FDIC)

�

�84�

�

�46�

�

�83�

�

�67�

�

�71�

�

Provision (benefit) for loans acquired from the FDIC

�

�(1)

�

�(12)

�

�(9)

�

�(7)

�

�(11)

�

Charge-offs:

�

Commercial:

�

Commercial and industrial

�

�(27)

�

�(31)

�

�(40)

�

�(33)

�

�(45)

�

Commercial real estateincome producing properties

�

�(4)

�

�(8)

�

�(11)

�

�(8)

�

�(6)

�

Commercial real estateconstruction and development

�

�(2)

�

�(2)

�

�(3)

�

�(4)

�

�(4)

�

Direct retail lending (1)

�

�(14)

�

�(17)

�

�(19)

�

�(19)

�

�(29)

�

Sales finance

�

�(7)

�

�(5)

�

�(4)

�

�(7)

�

�(7)

�

Revolving credit

�

�(18)

�

�(17)

�

�(18)

�

�(18)

�

�(22)

�

Residential mortgage-nonguaranteed (1)

�

�(10)

�

�(31)

�

�(20)

�

�(21)

�

�(16)

�

Residential mortgage-government guaranteed

�

��

�

�(1)

�

�(1)

�

��

�

�(1)

�

Other lending subsidiaries

�

�(71)

�

�(66)

�

�(47)

�

�(85)

�

�(60)

�

Acquired from FDIC

�

�(14)

�

��

�

�(4)

�

�(3)

�

�(1)

�

Total charge-offs

�

�(167)

�

�(178)

�

�(167)

�

�(198)

�

�(191)

�

Recoveries:

�

Commercial:

�

Commercial and industrial

�

�13�

�

�10�

�

�10�

�

�9�

�

�13�

�

Commercial real estateincome producing properties

�

�7�

�

�2�

�

�3�

�

�2�

�

�5�

�

Commercial real estateconstruction and development

�

�4�

�

�2�

�

�10�

�

�3�

�

�8�

�

Direct retail lending (1)

�

�7�

�

�7�

�

�7�

�

�8�

�

�9�

�

Sales finance

�

�2�

�

�2�

�

�2�

�

�3�

�

�2�

�

Revolving credit

�

�5�

�

�4�

�

�5�

�

�5�

�

�4�

�

Residential mortgage-nonguaranteed (1)

�

�5�

�

�1�

�

��

�

�1�

�

�1�

�

Other lending subsidiaries

�

�8�

�

�8�

�

�9�

�

�8�

�

�7�

�

Total recoveries

�

�51�

�

�36�

�

�46�

�

�39�

�

�49�

�

Net charge-offs

�

�(116)

�

�(142)

�

�(121)

�

�(159)

�

�(142)

�

Sale of subsidiary

�

��

�

��

�

��

�

��

�

�(27)

�

Ending balance

�1,534�

�

�1,567�

�

�1,675�

�

�1,722�

�

�1,821�

Allowance for credit losses

�

Allowance for loan and lease losses (excluding loans acquired from the FDIC)

�1,410�

�

�1,425�

�

�1,499�

�

�1,538�

�

�1,618�

�

Allowance for loans acquired from the FDIC

�

�64�

�

�79�

�

�91�

�

�104�

�

�114�

�

Reserve for unfunded lending commitments

�

�60�

�

�63�

�

�85�

�

�80�

�

�89�

�

Total

�1,534�

�

�1,567�

�

�1,675�

�

�1,722�

�

�1,821�

�

As of/For the

�

Twelve Months Ended

�

December 31

�

2014�

�

2013�

Allowance for credit losses

�

Beginning balance

�

�1,821�

�

�2,048�

�

Provision for credit losses (excluding loans acquired from the FDIC)

�

�280�

�

�587�

�

Provision (benefit) for loans acquired from the FDIC

�

�(29)

�

�5�

�

Charge-offs

�

Commercial

�

Commercial and industrial

�

�(131)

�

�(248)

�

Commercial real estateincome producing properties

�

�(31)

�

�(74)

�

Commercial real estateconstruction and development

�

�(11)

�

�(58)

�

Direct retail lending (1)

�

�(69)

�

�(148)

�

Sales finance

�

�(23)

�

�(23)

�

Revolving credit

�

�(71)

�

�(85)

�

Residential mortgage-nonguaranteed (1)

�

�(82)

�

�(79)

�

Residential mortgage-government guaranteed

�

�(2)

�

��(2)

�

Other lending subsidiaries

�

�(269)

�

�(255)

�

Acquired from FDIC

�

�(21)

�

�(19)

�

Total charge-offs

�

�(710)

�

�(991)

�

Recoveries

�

Commercial

�

Commercial and industrial

�

�42�

�

�47�

�

Commercial real estateincome producing properties

�

�14�

�

�20�

�

Commercial real estateconstruction and development

�

�19�

�

�31�

�

Direct retail lending (1)

�

�29�

�

�38�

�

Sales finance

�

�9�

�

�9�

�

Revolving credit

�

�19�

�

�17�

�

Residential mortgage-nonguaranteed (1)

�

�7�

�

�3�

�

Other lending subsidiaries

�

�33�

�

�34�

�

Total recoveries

�

�172�

�

�199�

�

Net charge-offs

�

�(538)

�

�(792)

�

Sale of subsidiary

�

��

�

�(27)

�

Ending balance

�

�1,534�

�

�1,821�

(1)

During the first quarter of 2014, $8.3 billion of loans were transferred from direct retail lending to residential mortgage.

Return to Table of Contents

�

BB&T Corporation

�

Credit Quality

�

As of/For the Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Asset Quality Ratios (including acquired from FDIC)

�

Loans 30-89 days past due and still accruing as a

�

percentage of loans and leases (1)

�0.75�

�

�0.77�

�

�0.85�

�

�0.80�

�

�0.95�

�

Loans 90 days or more past due and still accruing

�

as a percentage of loans and leases (1)

�0.45�

�

�0.48�

�

�0.51�

�

�0.57�

�

�0.62�

�

Nonperforming loans and leases as a

�

percentage of loans and leases

�0.51�

�

�0.66�

�

�0.70�

�

�0.78�

�

�0.81�

�

Nonperforming assets as a percentage of:

�

Total assets

�0.42�

�

�0.50�

�

�0.52�

�

�0.59�

�

�0.64�

�

Loans and leases plus foreclosed property

�0.65�

�

�0.79�

�

�0.81�

�

�0.93�

�

�1.01�

�

Net charge-offs as a percentage of average loans and leases

�0.39�

�

�0.48�

�

�0.41�

�

�0.56�

�

�0.49�

�

Allowance for loan and lease losses as a percentage of

�

loans and leases

�1.23�

�

�1.27�

�

�1.33�

�

�1.41�

�

�1.49�

�

Ratio of allowance for loan and lease losses to:

�

Net charge-offs

�3.21�

�

�2.67�

�

�3.28�

�

�2.54�

�

�3.06�

�

Nonperforming loans and leases

�2.39�

�

�1.92�

�

�1.89�

�

�1.82�

�

�1.85�

�

Asset Quality Ratios (excluding acquired from FDIC) (2)

�

Loans 90 days or more past due and still accruing

�

as a percentage of loans and leases (1)

�0.29�

�

�0.29�

�

�0.30�

�

�0.36�

�

�0.37�

�

As of/For the

�

Twelve Months Ended

�

December 31

�

2014�

�

2013�

Asset Quality Ratios

�

Including acquired from FDIC:

�

Net charge-offs as a percentage of average loans and leases

�

�0.46�

�

�0.69�

�

Ratio of allowance for loan and lease losses to net charge-offs

�

�2.74�

�

�2.19�

Applicable ratios are annualized and exclude loans held for sale except as noted.

(1)

Excludes government guaranteed GNMA mortgage loans that BB&T has the right but not the obligation to repurchase. Refer to the footnotes in the Credit Quality section of this supplement for amounts related to these loans. The prior quarters have been revised to include government guaranteed mortgage loans consistent with the current presentation.

(2)

These asset quality ratios have been adjusted to remove the impact of assets acquired from the FDIC.��Appropriate adjustments to the numerator and denominator have been reflected in the calculation of these ratios.��Management believes the inclusion of assets acquired from the FDIC 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.

Return to Table of Contents

�

BB&T Corporation

�

Credit Quality - Supplemental Information

�

(Dollars in millions)

�

As of December 31, 2014

�

Past Due 30-89

�

Past Due 90+

�

Current Status

�

Days

�

Days

�

Total

Performing TDRs: (1)

�

Commercial:

�

Commercial and industrial

�64�

�100.0�

�

��

�

��

�

�64�

�

Commercial real estateincome producing properties

�

�27�

�100.0�

�

��

�

��

�

�27�

�

Commercial real estateconstruction and development

�

�30�

�100.0�

�

��

�

��

�

�30�

�

Direct retail lending

�

�82�

�97.6�

�

�2�

�2.4�

�

��

�

�84�

�

Sales finance

�

�18�

�94.7�

�

�1�

�5.3�

�

��

�

�19�

�

Revolving credit

�

�35�

�85.4�

�

�5�

�12.2�

�

�1�

�2.4�

�

�41�

�

Residential mortgagenonguaranteed

�

�199�

�76.3�

�

�52�

�19.9�

�

�10�

�3.8�

�

�261�

�

Residential mortgagegovernment guaranteed

�

�162�

�45.0�

�

�68�

�18.9�

�

�130�

�36.1�

�

�360�

�

Other lending subsidiaries

�

�141�

�86.0�

�

�23�

�14.0�

�

��

�

�164�

�

Total performing TDRs

�

�758�

�72.2�

�

�151�

�14.4�

�

�141�

�13.4�

�

�1,050�

Nonperforming TDRs (2)

�

�50�

�39.7�

�

�8�

�6.3�

�

�68�

�54.0�

�

�126�

�

Total TDRs

�808�

�68.7�

�

�159�

�13.5�

�

�209�

�17.8�

�

�1,176�

�

Quarter Ended

�

Dec. 31

Sept. 30

June 30

March 31

Dec. 31

�

2014�

2013�

Net charge-offs as a percentage of average loans and leases:

�

Commercial:

�

Commercial and industrial

�0.13�

�0.20�

�0.30�

�0.26�

�0.33�

�

Commercial real estateincome producing properties

�(0.13)

�

�0.24�

�

�0.34�

�

�0.22�

�

�0.06�

�

Commercial real estateconstruction and development

�(0.18)

�

�(0.07)

�

�(0.96)

�

�0.09�

�

�(0.49)

�

Direct retail lending

�0.36�

�

�0.49�

�

�0.61�

�

�0.49�

�

�0.50�

�

Sales finance

�0.19�

�

�0.12�

�

�0.09�

�

�0.17�

�

�0.20�

�

Revolving credit

�2.27�

�

�1.94�

�

�2.28�

�

�2.30�

�

�3.00�

�

Residential mortgage

�0.06�

�

�0.39�

�

�0.24�

�

�0.27�

�

�0.27�

�

Other lending subsidiaries

�2.20�

�

�2.08�

�

�1.43�

�

�3.04�

�

�2.01�

�

Acquired from FDIC

�4.19�

�

�0.13�

�

�0.92�

�

�0.67�

�

�0.16�

�

Total loans and leases

�0.39�

�

�0.48�

�

�0.41�

�

�0.56�

�

�0.49�

�

Year-to-date

�

Dec. 31

�

2014�

2013�

Net charge-offs as a percentage of average loans and leases:

�

Commercial:

�

Commercial and industrial

�

�0.22�

�0.52�

�

Commercial real estateincome producing properties

�

�0.16�

�

�0.55�

�

Commercial real estateconstruction and development

�

�(0.28)

�

�1.07�

�

Direct retail lending

�

�0.49�

�

�0.69�

�

Sales finance

�

�0.14�

�

�0.16�

�

Revolving credit

�

�2.20�

�

�2.91�

�

Residential mortgage

�

�0.24�

�

�0.33�

�

Other lending subsidiaries

�

�2.18�

�

�2.11�

�

Acquired from FDIC

�

�1.33�

�

�0.71�

�

Total loans and leases

�

�0.46�

�

�0.69�

�

Applicable ratios are annualized.

�

(1)

Past due performing TDRs are included in past due disclosures.

(2)

Nonperforming TDRs are included in nonaccrual loan disclosures.

�

Return to Table of Contents

�

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

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Selected Capital Information

�

Risk-based capital:

�

Tier 1

�17,840�

�

�17,402�

�

�16,984�

�

�16,699�

�

�16,074�

�

Total

�

�21,381�

�

�21,281�

�

�20,270�

�

�20,154�

�

�19,514�

�

Risk-weighted assets (1)

�

�143,745�

�

�140,499�

�

�140,829�

�

�137,947�

�

�136,489�

�

Average quarterly tangible assets

�

�179,785�

�

�179,268�

�

�177,983�

�

�175,424�

�

�172,425�

�

Risk-based capital ratios:

�

Tier 1

�

�12.4�

�

�12.4�

�

�12.1�

�

�12.1�

�

�11.8�

�

Total

�

�14.9�

�

�15.1�

�

�14.4�

�

�14.6�

�

�14.3�

�

Leverage capital ratio

�

�9.9�

�

�9.7�

�

�9.5�

�

�9.5�

�

�9.3�

�

Equity as a percentage of total assets

�

�13.1�

�

�13.0�

�

�12.7�

�

�12.8�

�

�12.5�

�

Common equity per common share

�30.16�

�

�30.04�

�

�29.57�

�

�29.03�

�

�28.52�

�

Selected non-GAAP Capital Information (2)

�

Tangible common equity as a percentage of tangible assets

�

�8.0�

�

�7.9�

�

�7.7�

�

�7.6�

�

�7.3�

�

Tier 1 common equity as a percentage of risk-weighted assets

�

�10.6�

�

�10.5�

�

�10.2�

�

�10.2�

�

�9.9�

�

Tangible common equity per common share

�19.93�

�

�19.77�

�

�19.26�

�

�18.77�

�

�18.08�

�

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

�

Total shareholders' equity

�24,426�

�

�24,314�

�

�23,965�

�

�23,556�

�

�22,809�

�

Less:

�

Preferred stock

�

�2,603�

�

�2,603�

�

�2,603�

�

�2,603�

�

�2,603�

�

Noncontrolling interests

�

�88�

�

�76�

�

�85�

�

�94�

�

�50�

�

Intangible assets

�

�7,374�

�

�7,396�

�

�7,420�

�

�7,370�

�

�7,383�

�

Tangible common equity

�14,361�

�

�14,239�

�

�13,857�

�

�13,489�

�

�12,773�

�

Add:

�

Regulatory adjustments

�

�876�

�

�560�

�

�524�

�

�607�

�

�698�

�

Tier 1 common equity (Basel I)

�15,237�

�

�14,799�

�

�14,381�

�

�14,096�

�

�13,471�

�

Total assets

�186,814�

�

�187,022�

�

�188,012�

�

�184,651�

�

�183,010�

�

Less:

�

Intangible assets

�

�7,374�

�

�7,396�

�

�7,420�

�

�7,370�

�

�7,383�

�

Tangible assets

�179,440�

�

�179,626�

�

�180,592�

�

�177,281�

�

�175,627�

�

Risk-weighted assets (1)

�143,745�

�

�140,499�

�

�140,829�

�

�137,947�

�

�136,489�

�

Tangible common equity as a percentage of tangible assets

�

�8.0�

�

�7.9�

�

�7.7�

�

�7.6�

�

�7.3�

Tier 1 common equity as a percentage of risk-weighted assets

�

�10.6�

�

�10.5�

�

�10.2�

�

�10.2�

�

�9.9�

�

Tangible common equity

�14,361�

�

�14,239�

�

�13,857�

�

�13,489�

�

�12,773�

�

Outstanding shares at end of period (in thousands)

�

�720,698�

�

�720,298�

�

�719,584�

�

�718,497�

�

�706,620�

�

Tangible common equity per common share

�19.93�

�

�19.77�

�

�19.26�

�

�18.77�

�

�18.08�

�

(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.

Return to Table of Contents

�

BB&T Corporation

�

Selected Items & Additional Information

�

(Dollars in millions, except per share data)

�

Favorable (Unfavorable)

Selected Items

�

Pre-Tax

�

After-Tax

�

Fourth Quarter 2014

�

Mortgage reserve adjustments

Loan-related expense

�

�(27)

�

�(17)

�

Franchise tax adjustment

Other expense

�

�15�

�

�9�

�

Allowance release related to loan sale

Provision for credit losses

�

�24�

�

�15�

�

Third Quarter 2014

�

Loss on early extinguishment of debt

Debt extinguishment charges

�

�(122)

�

�(76)

�

Allowance release related to loan sale

Provision for credit losses

�

�42�

�

�26�

�

Income tax adjustment

Provision for income taxes

�

N/A

�

�50�

�

Second Quarter 2014

�

FHA-insured mortgage loan reserve adjustment

Other expense

�

�(85)

�

�(53)

�

Mortgage loan indemnification reserve adjustment

Loan-related expense

�

�(33)

�

�(21)

�

Income tax adjustment

Provision for income taxes

�

N/A

�

�(14)

�

First Quarter 2014

�

Reallocation of partnership profit rights

Noncontrolling interests

�

N/A

�

�(16)

�

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)

�

As of / Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

�

Selected Mortgage Banking Information

�

Income statement impact of mortgage servicing rights valuation:

�

MSRs fair value increase (decrease)

�(105)

�

�(20)

�

�(56)

�

�(43)

�

�52�

�

MSRs hedge gains (losses)

�

�123�

�

�23�

�

�60�

�

�45�

�

�(48)

�

Net

�18�

�

�3�

�

�4�

�

�2�

�

�4�

�

Residential mortgage loan originations

�3,888�

�

�4,999�

�

�4,710�

�

�3,804�

�

�5,344�

�

Residential mortgage servicing portfolio (1):

�

Loans serviced for others

�

�90,230�

�

�89,936�

�

�88,595�

�

�88,239�

�

�87,434�

�

Bank-owned loans serviced

�

�32,027�

�

�33,490�

�

�34,154�

�

�33,703�

�

�33,722�

�

Total servicing portfolio

�

�122,257�

�

�123,426�

�

�122,749�

�

�121,942�

�

�121,156�

�

Weighted-average coupon rate

�

�4.20�

�

�4.21�

�

�4.23�

�

�4.23�

�

�4.24�

�

Weighted-average servicing fee

�

�0.292�

�

�0.293�

�

�0.295�

�

�0.297�

�

�0.298�

�

Selected Miscellaneous Information

�

Derivatives notional amount

�72,321�

�

�63,467�

�

�61,504�

�

�63,115�

�

�59,318�

�

Fair value of derivatives, net

�

�109�

�

�56�

�

�55�

�

�(67)

�

�(106)

�

Accumulated other comprehensive income related to securities,

�

net of tax (2)

�

�(99)

�

�(220)

�

�(179)

�

�(204)

�

�(289)

�

Common stock prices:

�

High

�

�39.69�

�

�40.21�

�

�40.95�

�

�41.04�

�

�37.42�

�

Low

�

�34.50�

�

�35.86�

�

�36.38�

�

�36.28�

�

�32.65�

�

End of period

�

�38.89�

�

�37.21�

�

�39.43�

�

�40.17�

�

�37.32�

�

Banking offices

�

�1,839�

�

�1,842�

�

�1,844�

�

�1,824�

�

�1,825�

�

ATMs

�

�2,977�

�

�2,980�

�

�2,992�

�

�2,946�

�

�2,935�

�

FTEs

�

�32,264�

�

�32,866�

�

�33,637�

�

�33,704�

�

�33,544�

�

(1)

Amounts reported are unpaid principal balance.

(2)

Includes the impact of the FDIC loss sharing agreements on the acquired securities.

Return to Table of Contents

�

BB&T Corporation

�

Non-GAAP Reconciliations

�

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

�

Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

Efficiency and Fee Income Ratios (1)

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Efficiency ratio - GAAP

�

�59.4�

�

�67.1�

�

�67.1�

�

�61.2�

�

�61.1�

�

Effect of securities gains (losses), net

�

��

�

�(0.1)

�

��

�

��

�

�0.1�

�

Effect of merger-related and restructuring charges, net

�

�(0.7)

�

�(0.3)

�

�(0.6)

�

�(0.3)

�

�(0.4)

�

Effect of mortgage loan indemnification reserves

�

��

�

��

�

�(1.4)

�

��

�

��

�

Effect of gain on sale of subsidiary

�

��

�

��

�

��

�

��

�

�0.8�

�

Effect of mortgage reserve adjustments

�

�(1.1)

�

��

�

��

�

��

�

��

�

Effect of loss on early extinguishment of debt

�

��

�

�(5.2)

�

��

�

��

�

��

�

Effect of franchise tax adjustment

�

�0.6�

�

��

�

��

�

��

�

��

�

Effect of FDIC loss share accounting

�

�(0.1)

�

�(0.3)

�

�(0.2)

�

�(0.1)

�

�(0.2)

�

Effect of foreclosed property expense

�

�(0.4)

�

�(0.5)

�

�(0.4)

�

�(0.4)

�

�(0.5)

�

Effect of FHA-insured mortgage loan reserve adjustment

�

��

�

��

�

�(3.7)

�

��

�

��

�

Effect of amortization of intangibles

�

�(1.0)

�

�(1.0)

�

�(1.0)

�

�(1.1)

�

�(1.0)

�

Efficiency ratio - reported

�

�56.7�

�

�59.7�

�

�59.8�

�

�59.3�

�

�59.9�

�

Fee income ratio - GAAP

�

�42.3�

�

�40.3�

�

�40.4�

�

�39.7�

�

�41.4�

�

Effect of securities gains (losses), net

�

��

�

�0.1�

�

��

�

��

�

�(0.1)

�

Effect of gain on sale of subsidiary

�

��

�

��

�

��

�

��

�

�(0.8)

�

Effect of FDIC loss share accounting

�

�3.5�

�

�3.6�

�

�3.6�

�

�3.5�

�

�3.0�

�

Fee income ratio - reported

�

�45.8�

�

�44.0�

�

�44.0�

�

�43.2�

�

�43.5�

�

Year-to-Date Dec. 31

�

2014�

�

2013�

Efficiency ratio - GAAP

�

�63.7�

�

�60.2�

�

Effect of securities gains (losses), net

�

��

�

�0.3�

�

Effect of merger-related and restructuring charges, net

�

�(0.5)

�

�(0.5)

�

Effect of mortgage loan indemnification reserves

�

�(0.4)

�

��

�

Effect of gain on sale of subsidiary

�

��

�

�0.2�

�

Effect of mortgage reserve adjustments

�

�(0.3)

�

��

�

Effect of loss on early extinguishment of debt

�

�(1.3)

�

��

�

Effect of franchise tax adjustment

�

�0.2�

�

��

�

Effect of FDIC loss share accounting

�

�(0.2)

�

��

�

Effect of foreclosed property expense

�

�(0.4)

�

�(0.6)

�

Effect of FHA-insured mortgage loan reserve adjustment

�

�(0.9)

�

��

�

Effect of owned real estate adjustments

�

��

�

�(0.1)

�

Effect of amortization of intangibles

�

�(1.0)

�

�(1.0)

�

Efficiency ratio - reported

�

�58.9�

�

�58.5�

�

Fee income ratio - GAAP

�

�40.7�

�

�40.6�

�

Effect of securities gains (losses), net

�

��

�

�(0.3)

�

Effect of gain on sale of subsidiary

�

��

�

�(0.2)

�

Effect of FDIC loss share accounting

�

�3.6�

�

�3.1�

�

Fee income ratio - reported

�

�44.3�

�

�43.2�

�

(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.

Return to Table of Contents

�

BB&T Corporation

�

Non-GAAP Reconciliations

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

�

Quarter Ended

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

Return on Average Tangible Common Shareholders' Equity (1)

�

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Net income available to common shareholders

�

�557�

�

�520�

�

�425�

�

�501�

�

�537�

�

Plus: Amortization of intangibles, net of tax

�

�14�

�

�14�

�

�15�

�

�14�

�

�16�

�

Tangible net income available to common shareholders

�

�571�

�

�534�

�

�440�

�

�515�

�

�553�

�

Average common shareholders' equity

�

�21,940�

�

�21,508�

�

�21,193�

�

�20,610�

�

�19,657�

�

Less: Average intangible assets

�

�7,385�

�

�7,409�

�

�7,378�

�

�7,379�

�

�7,397�

�

Average tangible common shareholders' equity

�

�14,555�

�

�14,099�

�

�13,815�

�

�13,231�

�

�12,260�

�

Return on average tangible common shareholders' equity

�

�15.57�

�

�15.04�

�

�12.74�

�

�15.81�

�

�17.91�

�

Year-to-Date Dec. 31,

�

2014�

�

2013�

Net income available to common shareholders

�

�2,003�

�

�1,562�

�

Plus:

�

Amortization of intangibles, net of tax

�

�57�

�

�66�

�

Tangible net income available to common shareholders

�

�2,060�

�

�1,628�

�

Average common shareholders' equity

�

�21,317�

�

�19,397�

�

Less:

�

Average intangible assets

�

�7,388�

�

�7,437�

�

Average tangible common shareholders' equity

�

�13,929�

�

�11,960�

�

Return on average tangible common shareholders' equity

�

�14.79�

�

�13.61�

�

Dec. 31

�

Sept. 30

�

June 30

�

March 31

�

Dec. 31

Basel III Common Equity Tier 1 Ratio - Preliminary (2)

2014�

�

2014�

�

2014�

�

2014�

�

2013�

Tier 1 common equity under Basel 1

�15,237�

�

�14,799�

�

�14,381�

�

�14,096�

�

�13,471�

�

Adjustments

�

86�

�

�91�

�

�92�

�

�96�

�

�98�

�

Common equity Tier 1 under Basel III definition

15,323�

�

�14,707�

�

�14,473�

�

�14,192�

�

�13,569�

�

Estimated risk-weighted assets under Basel III definition

149,316�

�

�144,965�

�

�145,062�

�

�141,972�

�

�140,670�

�

Basel III common equity Tier 1 ratio

�

10.3�

�

�10.3�

�

�10.0�

�

�10.0�

�

�9.7�

(1)

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.

(2)

Basel III capital information is preliminary and subject to change. The Basel III amounts are based upon management's interpretation of the rules adopted by the FRB, which became effective on January 1, 2015.

�

Exhibit 99.3

�

Forward - Looking Information This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 19 95, regarding the financial condition, results of operations, business plans and the future performance of BB&T that are based on the beliefs and assumptions of the management of BB&T and the information available to management at the time th at these disclosures were prepared. Words such as anticipates, believes, estimates, expects, forecasts, intends, plans, projects, may, will, should, could, and other similar expressions are intended to identify thes e f orward - looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Such factors include, but are not limited to, the following: � general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, amo ng other things, a deterioration in credit quality and/or a reduced demand for credit, insurance or other services; � disruptions to the credit and financial markets, either nationally or globally, including the impact of a downgrade of U.S. g ove rnment obligations by one of the credit ratings agencies and the adverse effects of recessionary conditions in Europe; � changes in the interest rate environment and cash flow reassessments may reduce NIM and/or the volumes and values of loans ma de or held as well as the value of other financial assets held; � competitive pressures among depository and other financial institutions may increase significantly; � legislative, regulatory or accounting changes, including changes resulting from the adoption and implementation of the Dodd - Fran k Act may adversely affect the businesses in which BB&T is engaged; � local, state or federal taxing authorities may take tax positions that are adverse to BB&T; � a reduction may occur in BB&Ts credit ratings; � adverse changes may occur in the securities markets; � competitors of BB&T may have greater financial resources and develop products that enable them to compete more successfully t han BB&T and may be subject to different regulatory standards than BB&T; � natural or other disasters could have an adverse effect on BB&T in that such events could materially disrupt BB&Ts operation s o r the ability or willingness of BB&Ts customers to access the financial services BB&T offers; � costs or difficulties related to the integration of the businesses of BB&T and its merger partners may be greater than expect ed; � expected cost savings or revenue growth associated with completed mergers and acquisitions may not be fully realized or reali zed within the expected time frames; � significant litigation could have a material adverse effect on BB&T; � deposit attrition, customer loss and/or revenue loss following completed mergers and acquisitions may be greater than expecte d ; � cyber - security risks, including denial of service, hacking and identity theft, could adversely affect our business and fin ancial performance, or our reputation; and, � failure to implement part or all of the Companys new ERP system could result in impairment charges that adversely impact BB& Ts financial condition and results of operations and could result in significant additional costs to BB&T. Readers are cautioned not to place undue reliance on these forward - looking statements, which speak only as of the date of this r eport. Actual results may differ materially from those expressed in or implied by any forward - looking statement. Except to the extent required by applicable law or regulation, BB&T undertakes no obligation to revise or update publicly any forwar d - l ooking statements for any reason. Non - GAAP Information This presentation contains financial information and performance measures determined by methods other than in accordance with ac counting principles generally accepted in the United States of America (GAAP). BB&Ts management uses these non - GAAP measures in their analysis of the Corporations performance and the efficiency of its operations. Management believes that these non - GAAP 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 in the current period. The c omp any believes that a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. BB&Ts management believes that investors may use these non - GAAP financial measures to analyze financial performanc e without the impact of unusual items that may obscure trends in the companys underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they nece ssa rily comparable to non - GAAP performance measures that may be presented by other companies. Below is a listing of the types of non - GAAP measures used in this presentation: � Tangible common equity, Tier 1 common equity and related ratios are non - GAAP measures. The return on average risk - weighted asset s is a non - GAAP measure. The Basel III common equity Tier I ratio reflects managements interpretation of the regulatory requirements, which is subject to change. BB&T's management uses these measures to assess th e q uality of capital and believes that investors may find them useful in their analysis of the Corporation. � Fee income and efficiency ratios are non - GAAP in that they exclude securities gains (losses), foreclosed property expense, amortizat ion of intangible assets, merger - related and restructuring charges, the impact of FDIC loss share accounting and other selected items. BB&Ts management uses these measures in their analysis of the Corporations perfo rma nce. � Adjusted non - interest expenses exclude loss on early extinguishment of debt, FHA - insured mortgage loan reserve adjustment, mortg age loan indemnification reserve adjustment and owned real estate and related adjustments and is a Non - GAAP measure. BB&Ts management 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. � Return on average tangible common shareholders equity is a non - GAAP measure that calculates the return on average common shareholders equity without the impact of intangible assets and their related amortization . This measure is useful for evaluating the performance of a business consistently, whether acquired or developed internally. � Core net interest margin is a non - GAAP measure that adjusts net interest margin to exclude the impact of interest income and fun ding costs associated with loans and securities acquired in the Colonial acquisition. BB&Ts management believes that the exclusion of the generally higher yielding assets acquired in the Colonial acquisition from the cal culation of net interest margin provides investors with useful information related to the relative performance of the remainder of BB&Ts earning assets. � Adjusted net charge - offs, the adjusted ratio of net charge - offs to average loans and the allowance to adjusted net charge - offs ratio are non - GAAP measures that adjust net charge - offs to exclude the impact of a process change that resulted in accelerated recognition of charge - offs in the non - prime automobile lending portfolio during the quarter ended March 31, 2014 and net charge - offs associated with certain loan sales during the quarter ended September 30, 2014. BB&Ts management believes these adjustments increase comparability of period - to - period results and believes that investors may find them useful in their analysis of the Corporation . A reconciliation of these non - GAAP measures to the most directly comparable GAAP measure is included in BB&Ts Fourth Quarter 2014 Quarterly Performance Summary, which is available on BB&Ts website at www.bbt.com.

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3 3 2014 Fourth Quarter Performance Highlights 1 � Record earnings for full year 2014 and 4Q14 � 2014 net income 2 totaled $2.0 billion, up 28% vs. 2013 3 � 4Q14 earnings totaled $557 million, up 3.7% vs. 4Q13 � Driven by strong results in insurance, investment banking and brokerage fees and commissions. � Diluted EPS totaled $0.76 for 4Q14, up 1.3% vs. 4Q13 � Diluted EPS was $2.75 for the full year 2014 vs. $2.19 full year 2013, up 25.6% 3 � ROA was 1.30% for 4Q14 � Revenue totaled $2.4 billion for 4Q14, up 9.2% vs. 3Q14 Record Performance Loans � Average loans, excluding residential mortgage, grew 3.2% vs. 3Q14 � Growth led by C&I, CRE, Direct retail, and Other lending subsidiaries Expense Management 4 Strategic Announcement � Adjusted noninterest expense was $1.38 billion, down 12.8% vs. 3Q14 � Efficiency ratio was 56.7% 1 Linked quarter growth rates are annualized, except credit metrics 2 Available to common shareholders 3 Growth rates reflect $516 million in tax adjustments during 2013 4 Please refer to appendix for non - GAAP reconciliations � Announced agreement to acquire Susquehanna Bancshares, Inc.

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4 4 Pre - Tax After Tax Diluted EPS Impact Mortgage reserve adjustments $ (27) $ (17) $ (0.02) Franchise tax adjustment $ 15 $ 9 $ 0.01 Allowance release related to loan sale $ 24 $ 15 $ 0.02 Merger - related and restructuring charges $ (18) $ (13) $ (0.02) Selected Items Affecting Earnings ($ in millions, except per share impact)

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5 5 Broad - based Loan Growth 1 � Excluding Residential mortgage, loans grew 3.2% annualized � Experienced broad - based loan growth vs. 3Q14 � 5.0% annualized growth in total commercial led by 23.3% growth in Corporate Banking � Mortgage balances declined due to a 2Q14 management decision to sell all conforming loan production and the impact of the loan sales 1 Excludes loans held for sale 2 Other l ending s ubsidiaries consist of AFCO/CAFO/Prime Rate, BB&T Equipment Finance, Grandbridge Real Estate Capital, Sheffield Financial and Regional Acceptance $114.8 $115.1 $117.1 $118.6 $118.3 $110.0 $112.0 $114.0 $116.0 $118.0 $120.0 4Q13 1Q14 2Q14 3Q14 4Q14 Average Loans Held for Investment ($ in billions) C&I $ 40,383 $ 477 4.7% CRE income producing properties 10,681 85 3.2 CRE construction & development 2,772 102 15.2 Direct retail 8,085 173 8.7 Sales finance 10,247 (66) (2.5) Revolving credit 2,427 31 5.1 Residential mortgage 31,046 (954) (11.8) Other lending subsidiaries 2 11,351 117 4.1 Subtotal $ 116,992 $ (35) (0.1)% Acquired from FDIC 1,309 (228) (58.9) Total $ 118,301 $ (263) (0.9)% 4Q14 Average Balance 4 Q14 v. 3Q14 $ Increase (Decrease) 4 Q14 v. 3Q14 Annualized % Increase (Decrease) Average Loans Held for Investment ($ in millions) � $1.4 billion oil and gas portfolio � 78% upstream (89% reserve - based) � 17% midstream � 5% service & supply � Expect loan growth of 2% - 4% (5% - 7% excluding mortgage) on a linked quarter basis in 1Q15

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6 6 Improved Deposit Mix and Cost $125.9 $125.7 $129.6 $130.6 $130.3 0.28% 0.27% 0.26% 0.26% 0.25% 0.20% 0.25% 0.30% 0.35% 0.40% $100.0 $110.0 $120.0 $130.0 $140.0 4Q13 1Q14 2Q14 3Q14 4Q14 Total Interest-Bearing Deposit Cost � Overall Noninterest Bearing DDA growth vs. 4Q13 was 10.7% � Personal, business and public funds DDA growth totaled 11.8%, 12.3% and 16.0% respectively vs. 4Q13 � Average noninterest - bearing deposit mix was 30.0% in 4Q14 vs. 28.1% in 4Q13 � Cost of Total Deposits was 0.25% in 4Q14 vs. 0.28 % in 4Q13 Average Total Deposits ($ in billions) $35.3 $35.4 $36.6 $38.1 $39.1 $30.0 $32.0 $34.0 $36.0 $38.0 $40.0 4Q13 1Q14 2Q14 3Q14 4Q14 Average Noninterest - Bearing Deposits ($ in billions) Noninterest - bearing deposits $ 39,130 $ 1,027 10.7% Interest checking 19,308 720 15.4 Money market & savings 51,176 1,202 9.5 Subtotal $ 109,614 $ 2,949 11.0% Time deposits and IRAs 20,041 (3,263) (55.6) Foreign office deposits Interest - bearing 660 21 13.0 Total deposits $ 130,315 $ (293) (0.9)% 4Q14 Average Balance 4Q14 v. 3Q14 $ Increase (Decrease) 4Q14 v. 3Q14 Annualized % Increase (Decrease) Average Deposits ($ in millions)

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7 7 Credit Quality Improved Across the Board 1 0.49% 0.47% 2 0.41% 0.43% 3 0.39% 0.56% 0.48% 0.00% 0.20% 0.40% 0.60% 0.80% 4Q13 1Q14 2Q14 3Q14 4Q14 Core Charge-offs Other Charge-offs � NPAs declined 16.7% vs. 3Q14 � Delinquent loans declined 3.8% � Net charge - offs decreased 18.3%, including impact of loan sales � Performing TDRs decreased 7.7% � Management expects 1Q15 net charge - offs to be 40 - 45 bps 0.64% 0.59% 0.52% 0.50% 0.42% 0.00% 0.20% 0.40% 0.60% 0.80% 4Q13 1Q14 2Q14 3Q14 4Q14 Total Nonperforming Assets as a Percentage of Total Assets Annualized Net Charge - offs / Average Loans 1 Includes acquired from FDIC; excludes loans held for sale 2 Excludes the impact of $23 million process change that resulted in accelerated recognition of charge - offs in the non - prime auto mobile lending portfolio 3 Excludes $15 million of net charge - offs related to sale of loans consisting primarily of TDRs

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8 8 Allowance Coverage Ratios Remain Strong 3.06x 2.54x 3.28x 2.67 3.21x 1.85x 1.82x 1.89x 1.92x 2.39x 0.00 1.00 2.00 3.00 4.00 5.00 4Q13 1Q14 2Q14 3Q14 4Q14 ALLL to Net Charge-offs ALLL to NPLs HFI � Coverage ratios remain strong at 3.21x and 2.39x for the allowance to net charge - offs and NPLs, respectively � Excluding the loan sale, BB&T did not record a reserve release this quarter: 1 � Management continues to anticipate no ALLL releases in future quarters ALLL Coverage Ratios 1 Excludes loans acquired from FDIC Provision for credit losses $84 million Provision impact of loan sale $24 million Adjusted provision for credit losses $108 million Net charge - offs $102 million

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9 9 Net Interest Margin Stable in 4Q14 3.56% 3.52% 3.43% 3.38% 3.36% 3.34% 3.29% 3.22% 3.20% 3.20% 2.75% 3.25% 3.75% 4.25% 4Q13 1Q14 2Q14 3Q14 4Q14 Reported NIM Core NIM � 4 Q14 NIM declined 2 bps vs. 3Q14 as a result of: � Lower yields on new loans � Run off of assets acquired from the FDIC Partially offset by: � Improved funding mix changes and stronger interest recoveries � Expect NIM to decrease up to mid single digits in 1Q15 assuming current rate environment � Net interest income is expected to decline modestly in 1Q15 vs. 4Q14 � Remain slightly asset sensitive Net Interest Margin 1 0.32% 0.72% 1.50% 2.24% 0.33% 0.74% 1.46% 2.06% 0.00% 1.00% 2.00% 3.00% Down 25 Up 50 Up 100 Up 200 Sensitivities as of 09/30/14 Sensitivities as of 12/31/14 Rate Sensitivities 1 Excludes assets acquired from the FDIC. See non - GAAP reconciliations included in the attached Appendix

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10 10 Strong Fee Income Drives Revenue Growth � Insurance income was up $24 million vs. 3Q14 primarily due to $21 million in higher property and casualty insurance commissions � Mortgage banking income was up $21 million vs. 3Q14, reflecting $15 million in higher net mortgage servicing rights valuation adjustments � Investment banking and brokerage fees and commissions were up $17 million driven by increased capital markets activity 43.5% 43.2% 44.0% 44.0% 45.8% 40.0% 45.0% 50.0% 4Q13 1Q14 2Q14 3Q14 4Q14 Fee Income Ratio 1 4Q14 4Q14 v. 3Q14 2 Increase (Decrease) 4Q14 v. 4Q13 Increase (Decrease) Insurance income $ 409 24.7 % 10.2 % Service charges on deposits 152 (10.2) 0.7 Mortgage banking income 128 77.9 28.0 Investment banking and brokerage fees and commissions 112 71.0 10.9 Bankcard fees and merchant discounts 67 (17.0) 3.1 Trust and investment advisory revenues 56 - 7.7 Checkcard fees 52 - 4.0 Income from bank - owned life insurance 30 28.3 (6.3) FDIC loss share income, net (84) (13.7) 12.0 Securities gains (losses), net - NM (100.0) Other income 82 15.1 (38.3) Total noninterest income $ 1,004 28.8 % 1.9 % Noninterest Income ($ in millions) 1 Excludes securities gains (losses), the impact of FDIC loss share accounting and other selected items. See non - GAAP reconcilia tions included in the attached Appendix 2 Linked quarter percentages are annualized

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11 11 Noninterest Expense Declines 13% 1,2 vs. 3Q14 � Other expense decreased $37 million driven by the $15 million benefit related to franchise taxes and lower insurance - related costs � 4Q14 effective tax rate was 27.9%; expecting 30% effective tax rate for 1Q15 � Achieved positive operating leverage in the quarter � Estimated pension impact in 2015 is $72 million � Expect seasonally higher fringe benefit expenses for 1Q15 $1,446 $1,395 $1,420 $1,427 $1,381 59.9% 59.3% 59.8% 59.7% 56.7% 54.0% 58.0% 62.0% 66.0% $1,200 $1,300 $1,400 $1,500 4Q13 1Q14 2Q14 3Q14 4Q14 Adjusted Noninterest Expense 1 and Efficiency Ratio 1 ($ in millions) 4Q14 4Q14 v. 3Q14 3 Increase (Decrease) 4Q14 v. 4Q13 Increase (Decrease) Personnel expense $ 794 (0.5) % (4.0) % Occupancy and equipment expense 168 (4.7) (3.4) Loan - related expense 89 23.6 39.1 Professional services 38 46.7 (17.4) Software expense 45 9.0 4.7 Regulatory charges 24 17.2 (27.3) Outside IT services 27 (39.7) (6.9) Amortization of intangibles 22 (17.2) (15.4) Foreclosed property expense 10 (36.1) (9.1) Merger - related and restructuring charges, net 18 NM 80.0 Loss on early extinguishment of debt - NM NM Other expense 176 (68.9) (8.8) Total noninterest expense $ 1,411 (37.0) % (3.1) % Noninterest Expense ($ in millions) 1 Excludes certain items as detailed in non - GAAP Reconciliation section 2 Linked quarter percentages are annualized

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12 12 Capital and Liquidity Strength 1 11.8% 12.1% 12.1% 12.4% 12.4% 9.9% 10.2% 10.2% 10.5% 10.6% 9.5% 10.5% 11.5% 12.5% 13.5% 4Q13 1Q14 2Q14 3Q14 4Q14 Tier 1 Tier 1 common � Common equity Tier 1 ratio under Basel III was approximately 10.3% at December 31, 2014 2 and September 30, 2014 primarily due to expiration of commercial loss sharing and loan growth � BB&Ts 4Q14 LCR is 130% vs. the minimum requirement of 90% by January 1, 2016 � BB&Ts 4Q14 liquid asset buffer is 13.6% (high quality liquid assets as a percentage of total assets) 1 Regulatory capital information is preliminary. Risk - weighted assets are determined based on regulatory capital requirements. Un der 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 e xpo sures are first converted to a balance sheet equivalent amount and subsequently assigned to one of the four risk - weightings. Tier 1 common equity ratio is a non - GAAP measure. BB&T uses the Tier 1 common equity definition used in the SC AP assessment to calculate these ratios. 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 meas ure s are not necessarily comparable to similar capital measures that may be presented by other companies. 2 The Basel III common equity Tier I ratio reflects managements interpretation of the regulatory requirements. Basel I Capital Ratios

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13 13 ($ in millions) Inc/(Dec) vs 3Q14 Inc/(Dec) 4Q13 4Q14 Comments 3 Net Interest Income Noninterest Income 1 Provision for Credit Losses Noninterest Expense 2 Income Tax Expense Segment Net Income Highlighted Metrics $ 730 346 20 655 147 $ 254 $ (3) (7) (32) (16) 15 $ 23 $ (20) 4 12 (27) (1) $ - ($ in billions) 1 Noninterest Income includes intersegment net referral fees 2 Noninterest Expense includes amortization of intangibles and allocated corporate expense 3 Linked quarter growth rates annualized except for production 4 Administered by Maritz scale of 10 4 Q14 Like Noninterest - bearing Deposits Noninterest - bearing / Total Deposits CRE Loans Retail Loans Dealer Floor Plan $34.8 32.8% $13.4 $8.0 $1.1 11.6% 3.4% 7.7% 8.4% 32.8% Link 3 14.1 % 3.2% 4.9% 8.9% 20.8% Change Community Banking Segment � C&I loan production increased $64.0 million, or 2.8%, compared to 4Q13 � Direct Retail Lending production increased $91.6 million, or 14.4%, compared to 4Q13 � Bankcard production increased $86.0 million, or 46.9% compared to 4Q13 � Noninterest expense declined, largely driven by reduced personnel expense � Maintained Overall Branch Satisfaction scores above 9.3 / 10 4 throughout 2014 while rightsizing staffing levels � Announced the acquisition of Susquehanna Bancshares in 4Q14, expected to close in mid 2015: � Three new banking regions; 245 banking offices - Entry into Pennsylvania and New Jersey � $18.6 billion in assets � $13.6 billion in deposits

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14 14 Retains and services mortgage loans originated by the Residential Mortgage Lending Division and through its referral relation shi p with the Community Bank and referral partners as well as those purchased from various correspondent originators ($ in millions) Inc /(Dec) vs 3Q14 Inc/(Dec) 4Q13 4Q14 Comments 4 Net Interest Income Noninterest Income 1 Provision for Credit Losses Noninterest Expense 2 Income Tax Expense Segment Net Income Highlighted Metrics 3 $ 120 101 (38) 127 50 $ 82 $ (6) 19 10 (1) 2 $ 2 $ (18) 25 (56) 11 19 $ 33 ($ in billions) 1 Noninterest Income includes intersegment net referral fees 2 Noninterest Expense includes amortization of intangibles and allocated corporate expense 3 Highlighted Metrics do not include operating statistics for loans transferred from Community Banking in 1Q14 4 Linked quarter growth rates annualized except for production and sales Change 4Q14 Link 4 Like Retail Originations $1.9 (8.2%) (0.8%) Correspondent Purchases 2.0 (31.8%) (41.6%) Total Production $3.9 (22.2%) (27.2%) Loan Sales $3.7 (0.4%) (36.6%) Loans Serviced for others (EOP) $90.2 1.3% 3.2% Residential Mortgage Banking Segment � Gain on sale margins increased from 1.10% in 3Q14 to 1.18% in 4Q14 due to stronger retail mix � The 4Q14 production mix was 61% purchase / 39% refinance vs. 71% / 29% in 3Q14 � Net servicing income grew $ 14.6 million vs. 3Q14 and $ 13.3 million vs. 4Q13 due to increase in the fair value of net mortgage servicing rights � Credit quality remained strong with: � 30+ day delinquency of 3.12% � Non - accruals of 0.53% � Net charge - offs of 0.06% of Loans HFI � Approximately $ 140 million of predominately non - performing loans were sold in 4Q14 with an allowance release of $24 million

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15 15 Primarily originates indirect loans to consumers on a prime and nonprime basis for the purchase of automobiles and other vehi cle s through approved dealers both in BB&Ts market and nationally (through Regional Acceptance Corporation) Comments 4 ($ in millions) Inc /(Dec) vs 3Q14 Inc /(Dec) 4Q13 4Q14 Net Interest Income Noninterest Income 1 Provision for Credit Losses Noninterest Expense 2 Income Tax Expense Segment Net Income Highlighted Metrics 4Q14 Like $ 172 1 80 38 21 $ 34 $ 1 1 27 2 (10) $ (17) $ 2 1 23 5 (9) $ (16) Loan Originations Loan Yield Operating Margin 3 Net Charge - offs $ 1.1 6.94% 78.0% 1.91% (10.7%) (0.42%) (2.6%) 0.14% 1 Noninterest Income includes intersegment net referral fees 2 Noninterest Expense includes amortization of intangibles and allocated corporate expense 3 Operating Margin excludes Provision for Credit Losses 4 Linked quarter growth rates annualized except for production and sales ($ in billions) Link 4 (17.9%) 0.05% (0.9%) 0.21% Change Dealer Financial Services Segment � C ontinued to generate strong loan growth: � Average loans were up 8.5% for Dealer Finance and 8.8% for Regional Acceptance vs. 4Q13 � Regional Acceptance experienced record origination volume for 4Q14, $344 million, up 26.9% from $271 million in 4Q13 � Dealer Finance asset quality indicators continue to exhibit strong performance compared to industry norms � Regional Acceptance asset quality indicators continue to perform within managements risk appetite � Regional Acceptance continued expansion during 4Q14, opening a new office in Nashville, TN

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16 16 Provides specialty lending including: commercial finance, mortgage warehouse lending, tax - exempt governmental finance, equipment leasing, commercial mortgage banking, insurance premium finance, dealer - based equipment financing, and direct consumer finance Comments 4 ($ in millions) Inc/(Dec) vs 3Q14 Inc /(Dec) 4Q13 4Q14 Net Interest Income Noninterest Income 1 Provision for Credit Losses Noninterest Expense 2 Income Tax Expense Segment Net Income Highlighted Metrics 4Q14 Like $ 108 69 13 77 23 $ 64 $ (3) 6 9 5 (4) $ (7) $ (6) 11 8 5 (2) $ (6) ($ in billions) Loan Originations Loan Yield Operating Margin 3 Net Charge - offs $ 4.4 4.39% 56.5% 0.21% 2.8% (0.39%) (1.6%) 0.03% 1 Noninterest Income includes intersegment net referral fees 2 Noninterest Expense includes amortization of intangibles and allocated corporate expense 3 Operating Margin excludes Provision for Credit Losses 4 Linked quarter growth rates annualized except for production and sales 1.6% (0.06%) (2.1%) (0.01%) Link 4 Change Specialized Lending Segment � Grandbridges average LHFI increased 77.3% vs . 3Q14 and 60.0% vs. 4Q13 � A new portfolio product introduced in 2014 has generated $392 million in originations since April � Strong ABL activity in 4Q14, including transfers and increased commitments � Production in 4Q14 was up 18.5% compared to 4Q13 � Production for 2014 was up 33.7% compared to 2013 � Amid increased competition, Sheffield Financials loan growth continues to be solid: � 4Q14 production increased 12.0% compared to 4Q13 � Average loans increased 4.3% vs . 3Q14 and 13.1% vs. 4Q13

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17 17 Comments ($ in millions) Inc/(Dec) vs 3Q14 Inc/(Dec) 4Q13 4Q14 Net Interest Income Noninterest Income 1 Provision for Credit Losses Noninterest Expense 2 Income Tax Expense Segment Net Income Highlighted Metrics Noninterest Income Number of Stores 4 EBITDA Margin 4Q14 Like Provides property and casualty, life, and health insurance to business and individual clients. It also provides workers comp ens ation and professional liability, as well as surety coverage and title insurance $ 3 421 - 323 36 $ 65 $ 2 34 - (8) 15 $ 29 $ 1 36 - 19 7 $ 11 $ 421 198 27.3% 9.4% 2 1.6% Change 34.9% 0 8.9% Link 6 ($ in millions ) Insurance Services Segment � BB&T Insurance generated strong insurance revenue growth vs. 4Q13 of: � 8.8% for Retail 5 � 12.0% for Wholesale � 10.4% for total Insurance 5 � Same store sales growth increased 9.5% vs 4Q13 � BB&T Insurance produced strong new business growth vs 4Q13: � 20.1% for Retail � 19.9% for Wholesale 7 � Higher noninterest income vs 3Q14 was driven by: � Seasonality in property and casualty commissions � Seasonality in employee benefits commissions � Strong new business and solid retail retention � BB&T Insurance moved from 6 th largest to 5 th largest broker in the US in 2014 1 Noninterest Income includes intersegment net referral fees 2 Noninterest Expense includes amortization of intangibles and allocated corporate expense 3 Not meaningful due to seasonality 4 U.S . Locations 5 Adjusted for an improved process used to estimate commission income beginning in 1Q14 6 Linked quarter growth rates annualized except for production and sales 7 Excludes American Coastal & Crump Life

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18 18 Provides trust services, wealth management, investment counseling, asset management, estate planning, employee benefits, corporate banking, and capital market services to individuals, corporations, governments, and other organizations Comments 4 ($ in millions) Inc/(Dec) vs 3Q14 Inc/(Dec) 4Q13 4Q14 Net Interest Income Noninterest Income 1 Provision for Credit Losses Noninterest Expense 2 Income Tax Expense Segment Net Income Highlighted Metrics Average Loan Balances Average Deposits Total Invested Assets Invested Assets Noninterest Income ($ in millions ) Operating Margin 3 4Q14 Like $ 120 230 18 203 49 $ 80 $ 8 36 14 15 6 $ 9 $ 12 16 21 18 (4) $ (7) $ 11.4 $ 26.8 $ 119.0 $ 123.8 42.0% 1 Noninterest Income includes intersegment net referral fees 2 Noninterest Expense includes amortization of intangibles and allocated corporate expense 3 Operating Margin excludes Provision for Credit Losses 4 Linked quarter growth rates annualized except for production and sales ($ in billions) Link 4 23.9% 22.1% 7.6% (4.5%) 3.4% Change 27.3% 10.7% 7.0% 7.7% (0.5%) Financial Services Segment � Average loan and deposit growth was driven by : � Corporate Banking, which generated - 23.3% loan growth vs. 3Q14 - 27.2% loan growth vs. 4Q13 � BB&T Wealth, which generated - 32.4% loan growth and 23.7% transaction deposit growth vs. 3Q14 - 32.4% loan growth and 22.5% transaction deposit growth vs. 4Q13 � Retirement and Institutional Services received 33 Best in Class Awards in the annual PlanSponso r survey � Increase in noninterest income vs. 3Q14 was driven by higher SBIC partnership income and Equity Capital Markets investment banking income � Wealth Lending production increased 80.6% YTD December 2014 vs. YTD December 2013 � BB&T Scott & Stringfellow opened a retail office in Lexington, KY

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As of / Quarter Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 2014 2014 2014 2014 2013 Selected Capital Information Risk - based capital: Tier 1 $ 17,840 $ 17,402 $ 16,984 $ 16,699 $ 16,074 Total 21,381 21,281 20,270 20,154 19,514 Risk - weighted assets (2) 143,745 140,499 140,829 137,947 136,489 Average quarterly tangible assets 179,785 179,268 177,983 175,424 172,425 Risk - based capital ratios: Tier 1 12.4 % 12.4 % 12.1 % 12.1 % 11.8 % Total 14.9 15.1 14.4 14.6 14.3 Leverage capital ratio 9.9 9.7 9.5 9.5 9.3 Equity as a percentage of total assets 13.1 13.0 12.7 12.8 12.5 Common equity per common share $ 30.16 $ 30.04 $ 29.57 $ 29.03 $ 28.52 Selected non - GAAP Capital Information (3) Tangible common equity as a percentage of tangible assets 8.0 % 7.9 % 7.7 % 7.6 % 7.3 % Tier 1 common equity as a percentage of risk - weighted assets 10.6 10.5 10.2 10.2 9.9 Tangible common equity per common share $ 19.93 $ 19.77 $ 19.26 $ 18.77 $ 18.08 Capital Measures 1 (Dollars in millions, except per share data) 1 2 Regulatory capital is preliminary Risk - weighted assets are determined based on regulatory capital requirements. Under the regulatory framework for determining risk - weighted as sets 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. 3 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 ma y b e presented by other companies. 21

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Basel III Common Equity Tier 1 Ratio 1 22 (Dollars in millions) Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Basel III Common Equity Tier 1 Ratio - Preliminary (2)(3) 2014 2014 2014 2014 2013 Tier 1 common equity under Basel 1 $ 15,237 $ 14,799 $ 14,381 $ 14,096 $ 13,471 Adjustments 86 91 92 96 98 Common equity Tier 1 under Basel III definition $ 15,323 $ 14,890 $ 14,473 $ 14,192 $ 13,569 Estimated risk - weighted assets under Basel III definition $ 149,316 $ 144,707 $ 145,062 $ 141,972 $ 140,670 Basel III common equity Tier 1 ratio 10.3 % 10.3 % 10.0 % 10.0 % 9.7 % 1 BB&T's management believes investors use this measure to evaluate the return on average common shareholders' equity without the impa ct of intangible assets and their related amortization . 2 Basel III capital information is preliminary and subject to change. The Basel III amounts are based upon management's preliminary i nte rpretation of the rules adopted by the FRB, which became effective on January 1, 2015. 3 BB&T's management uses these measures in their analysis of the Corporation's performance and believes these measures provide a great er understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.

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Non - GAAP Reconciliations 1 As of / Quarter Ended Dec. 31 2014 Sept. 30 2014 June 30 2014 March 31 2014 Dec. 31 2013 Calculations of tangible common equity, Tier 1 common equity, tangible assets and related measures (3): Total shareholders equity $ 24,426 $ 24,314 $ 23,965 $ 23,556 $ 22,809 Less: Preferred stock 2,603 2,603 2,603 2,603 2,603 Noncontrolling interests 88 76 85 94 50 Intangible assets 7,374 7,396 7,420 7,370 7,383 Tangible common equity $14,361 $14,239 $13,857 $13,489 $12,773 Add: Regulatory adjustments 876 560 524 607 698 Tier 1 common equity (Basel I ) $15,237 $14,799 $14,381 $14,096 $13,471 Total assets $186,814 $187,022 $188,012 $184,651 $183,010 Less: Intangible assets 7,374 7,396 7,420 7,370 7,383 Tangible assets $179,440 $179,626 $180,592 $177,281 $175,627 Risk - weighted assets (2) $143,745 $140,499 $140,829 $137,947 $136,489 Tangible common equity as a percentage of tangible assets 8.0% 7.9% 7.7% 7.6% 7.3% Tier 1 common equity as a percentage of risk - weighted assets 10.6 10.5 10.2 10.2 9.9 Tangible common equity $14,361 $14,239 $13,857 $13,489 $12,773 Outstanding shares at end of period (in thousands) 720,698 720,298 719,584 718,497 706,620 Tangible common equity per common share $19.93 $19.77 $19.26 $18.77 $18.08 23 (Dollars in millions, except per share data) 1 2 Regulatory capital is preliminary Risk - weighted assets are determined based on regulatory capital requirements. Under the regulatory framework for determining risk - weighted as sets 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. 3 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 measur es that may be presented by other companies.

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Non - GAAP Reconciliations 1 24 1 BB&Ts management uses these measures in their analysis of the Corporations 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. Quarter Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Efficiency and Fee Income Ratios (1) 2014 2014 2014 2014 2013 Efficiency ratio - GAAP 59.4 % 67.1 % 67.1 % 61.2 % 61.1 % Effect of securities gains (losses), net - (0.1) - - 0.1 Effect of merger - related and restructuring charges, net (0.7) (0.3) (0.6) (0.3) (0.4) Effect of mortgage loan indemnification reserves - - (1.4) - - Effect of gain on sale of subsidiary - - - - 0.8 Effect of mortgage reserve adjustments (1.1) - - - - Effect of loss on early extinguishment of debt - (5.2) - - - Effect of franchise tax adjustment 0.6 - - - - Effect of FDIC loss share accounting (0.1) (0.3) (0.2) (0.1) (0.2) Effect of foreclosed property expense (0.4) (0.5) (0.4) (0.4) (0.5) Effect of FHA - insured mortgage loan reserve adjustment - - (3.7) - - Effect of amortization of intangibles (1.0) (1.0) (1.0) (1.1) (1.0) Efficiency ratio - reported 56.7 59.7 59.8 59.3 59.9 Fee income ratio - GAAP 42.3 % 40.3 % 40.4 % 39.7 % 41.4 % Effect of securities gains (losses), net - 0.1 - - (0.1) Effect of gain on sale of subsidiary - - - - (0.8) Effect of FDIC loss share accounting 3.5 3.6 3.6 3.5 3.0 Fee income ratio - reported 45.8 44.0 44.0 43.2 43.5

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Quarter Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Return on Average Tangible Common Shareholders' Equity 2014 2014 2014 2014 2013 Net income available to common shareholders $ 557 $ 520 $ 425 $ 501 $ 537 Plus: Amortization of intangibles, net of tax 14 14 15 14 16 Tangible net income available to common shareholders $ 571 $ 534 $ 440 $ 515 $ 553 Average common shareholders' equity $ 21,940 $ 21,508 $ 21,193 $ 20,610 $ 19,657 Less: Average intangible assets 7,385 7,409 7,378 7,379 7,397 Average tangible common shareholders' equity $ 14,555 $ 14,099 $ 13,815 $ 13,231 $ 12,260 Return on average tangible common shareholders' equity 15.57 % 15.04 % 12.74 % 15.81 % 17.91 % 25 1 BB&Ts management believes investors use this measure to evaluate the return on average common shareholders equity without t he impact of intangible assets and their related amortization. Non - GAAP Reconciliations 1 (Dollars in millions)

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Non - GAAP Reconciliations 1 Quarter Ended Reported net interest margin vs. core net interest margin Dec. 31 2014 Sept. 30 2014 June 30 2014 March 31 2014 Dec. 31 2013 Reported net interest margin - GAAP 3.36% 3.38% 3.43% 3.52% 3.56% Adjustments to interest income for assets acquired from FDIC: Effect of securities acquired from FDIC (0.06) (0.06) (0.06) (0.06) (0.05) Effect of loans acquired from FDIC (0.11) (0.13) (0.16) (0.18) (0.19) Adjustments to interest expense: Effect of interest expense on assets acquired from FDIC 0.01 0.01 0.01 0.01 0.02 Core net interest margin 3.20% 3.20% 3.22% 3.29% 3.34% 26 1 BB&T management uses this measure to evaluate net interest margin, excluding the impact of assets acquired from FDIC and beli ev es this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

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Non - GAAP Reconciliations 27 1 Amount differs from noninterest expense used to calculate efficiency, which also excludes amortization of intangibles and for ecl osed property expense to remain consistent with SNL Financial definition. Quarter Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Adjusted Noninterest Expense 2014 2014 2014 2014 2013 Noninterest expense (GAAP) $ 1 , 411 $ 1 , 556 $ 1 , 551 $ 1 , 403 $ 1 , 456 Less: Mortgage reserve adjustments 27 - - - - Franchise tax adjustments (15) - - - - Loss on early extinguishment of debt - 122 - - - FHA - insured mortgage loan reserve adjustment - - 85 - - Mortgage loan indemnification reserve adjustment - - 33 - - Merger - related and restructuring charges 18 7 13 8 10 Adjusted Noninterest Expense 1 $ 1 , 381 $ 1 , 427 $ 1 , 420 $ 1 , 395 $ 1 , 446 (Dollars in millions)

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