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Bbt Corp (BBT) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Bbt Corp

CIK: 92230 Ticker: BBT


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."

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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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Inside Bbt Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Aoci
Aoci (Details)
Aoci (Tables)
Basis Of Presentation
Basis Of Presentation (Policy)
Basis Of Presentation (Tables)
Basis Of Presentation -Narrative (Details)
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Narrative (Details)
Benefit Plans - Summary Of The Components Of Net Periodic Benefit Cost (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Pledged Assets (Details)
Commitments And Contingencies - Summary (Details)
Computation Of Eps
Computation Of Eps (Details)
Computation Of Eps (Tables)
Deposits
Deposits (Details)
Deposits (Tables)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Amounts Related To Cash Flow Hedges (Details)
Derivative Financial Instruments - Amounts Related To Derivative Instruments Not Designated As Hedges (Details)
Derivative Financial Instruments - Amounts Related To Fair Value Hedges (Details)
Derivative Financial Instruments - Cash Flow And Fair Value Hedges (Details)
Derivative Financial Instruments - Classifications And Hedging Relationships (Details)
Derivative Financial Instruments - Dealer Counterparties And Central Clearing Parties (Details)
Derivative Financial Instruments - Fair Value Hedges Basis Adjusments (Details)
Fair Value Disclosures
Fair Value Disclosures (Tables)
Fair Value Disclosures - Assets And Liabilities Measured On A Recurring Basis (Details)
Fair Value Disclosures - Financial Assets And Liabilities Not Recorded At Fair Value (Details)
Fair Value Disclosures - Loans Held For Sale (Details)
Fair Value Disclosures - Measured On A Nonrecurring Basis (Details)
Fair Value Disclosures - Narrative (Details)
Fair Value Disclosures - Off-Balance Sheet Financial Instruments (Details)
Fair Value Disclosures - Rollforward Of Level 3 Assets And Liabilities (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Identifiable Intangible Assets (Details)
Goodwill And Other Intangible Assets - Narrative (Details)
Income Taxes
Income Taxes - Narrative (Details)
Loan Servicing
Loan Servicing (Tables)
Loan Servicing - Analysis Of Activity In Residential Msrs (Details)
Loan Servicing - Commercial Mortgage Banking Activities (Details)
Loan Servicing - Residential Mortgage Banking Activities (Details)
Loan Servicing - Residential Msr Sensitivity (Details)
Loans And Acl
Loans And Acl (Tables)
Loans And Acl - Aging Analysis Of Loans And Leases (Details)
Loans And Acl - Allowance For Credit Losses (Details)
Loans And Acl - Collectively Evaluated For Impairment (Details)
Loans And Acl - Individually Evaluated For Impairment (Details)
Loans And Acl - Narrative (Details)
Loans And Acl - Risk Rating (Details)
Loans And Acl - Summary Of Tdrs (Details)
Loans And Acl - Types Of Modifications And Impact To Allowance (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Long Term Debt, Interest Rates And Maturity Dates (Details)
Operating Segments
Operating Segments (Details)
Operating Segments (Tables)
Operating Segments - Narrative (Details)
Securities
Securities (Tables)
Securities - Amortized Cost And Estimated Fair Value By Contractual Maturity (Details)
Securities - Amortized Cost, Gross Unrealized Gains And Losses, And Fair Value (Details)
Securities - Gross Unrealized Losses And Fair Values Of Investments In Continuous Unrealized Loss Positions (Details)
Securities - Narrative (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Narrative (Details)
Shareholders' Equity - Rollforward Of Rsus, Psus And Restricted Shares (Details)
Shareholders' Equity - Summary Of Preferred Stock (Details)
Ticker: BBT
CIK: 92230
Form Type: 10-Q Quarterly Report
Accession Number: 0000092230-18-000078
Submitted to the SEC: Fri Oct 26 2018 12:24:41 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: National Commercial Banks

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