bbt_3q18.jpg
 
BB&T Corporation
 
 
Corporate Communications
2400 Reynolda Road
Winston-Salem, NC 27106-4606
October 18, 2018
 
News Release
 
 
 
 
FOR IMMEDIATE RELEASE
 
 
 
 
 
 
Contacts:
ANALYSTS
Alan Greer
Executive Vice President
Investor Relations
(336) 733-3021
Richard Baytosh
Senior Vice President
Investor Relations
(336) 733-0732
 

MEDIA
Brian Davis
Senior Vice President
Corporate Communications
Media@BBT.com

BB&T reports record quarterly earnings of $1.01 per diluted share
Up $0.27, or 36.5 percent, compared to third quarter 2017

WINSTON-SALEM, N.C. — BB&T Corporation (NYSE: BBT) today reported record earnings for the third quarter of 2018. Net income available to common shareholders was $789 million. Earnings per diluted common share were $1.01 for the third quarter of 2018, up from $0.99 last quarter. Results for the third quarter produced an annualized return on average assets of 1.49 percent and an annualized return on average common shareholders' equity of 11.69 percent.

Excluding pre-tax merger-related and restructuring charges of $18 million ($13 million after-tax), net income available to common shareholders was $802 million, or $1.03 per diluted share.

Net income available to common shareholders was $775 million ($0.99 per diluted share) for the second quarter of 2018 and $597 million ($0.74 per diluted share) for the third quarter of 2017.

"We are pleased to report record earnings driven by strong revenues, broad-based loan growth and solid expense control," said Chairman and Chief Executive Officer Kelly S. King. "Revenue exceeded $2.9 billion as we achieved records in both net interest income and noninterest income.

"We continue to execute on numerous strategies creating more diversified and resilient profitability while investing substantially in our digital platform creating outstanding client experiences.

"Net interest income was driven by loan growth of 5.8 percent, King said. "Noninterest income was led by insurance income, which benefited from the Regions Insurance acquisition as well as organic growth.

"Asset quality remains excellent and improved further during the third quarter. Nonperforming assets and loans 90 days or more past due declined from already very low levels," King said.

"We are proud of our associates who continue to work closely with our clients and communities that have been impacted by the recent hurricanes," King said. "We are partnering with the American Red Cross, Samaritan's Purse and many other local charities to aid ongoing relief efforts."

- 1 -

The following information was filed by Bbt Corp (BBT) on Thursday, October 18, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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