Operating Segments

6 Months Ended

Jun. 30, 2014

Operating Segments

Operating Segments

NOTE 15. Operating Segments

During January 2014, approximately $8.3 billion of closed-end, first and second lien position residential mortgage loanswere transferred from Community Banking to Residential Mortgage Banking based on a change in how these loans are managed as a result of new qualified mortgage regulations. In connection with this transfer, $319 million of goodwill was transferred from Community Banking to Residential Mortgage Banking.The following tables have been revised to give retrospective effect to the transfer:

BB&T Corporation
Reportable Segments
Three Months Ended June 30, 2014 and 2013
		Community				Residential				Dealer				Specialized
		Banking				Mortgage Banking				Financial Services				Lending
		2014		2013		2014		2013		2014		2013		2014		2013
		(Dollars in millions)
Net interest income (expense)		$	430	$	427	$	375	$	398	$	207	$	210	$	143	$	178
Net intersegment interest income (expense)			299		339		(250)		(248)		(39)		(39)		(34)		(30)
Segment net interest income			729		766		125		150		168		171		109		148
Allocated provision for loan and lease losses			35		108		(1)		30		31		41		13		28
Noninterest income			316		310		68		151		―		1		51		54
Intersegment net referral fees (expense)			29		51		―		―		―		―		―		―
Noninterest expense			397		445		206		98		28		27		52		64
Amortization of intangibles			8		9		―		―		―		―		1		2
Allocated corporate expenses			284		260		21		17		7		8		15		16
Income (loss) before income taxes			350		305		(33)		156		102		96		79		92
Provision (benefit) for income taxes			128		111		(12)		59		39		37		19		24
Segment net income (loss)		$	222	$	194	$	(21)	$	97	$	63	$	59	$	60	$	68
Identifiable assets (period end)		$	54,707	$	55,789	$	36,448	$	36,912	$	12,513	$	11,188	$	17,666	$	17,439
										Other, Treasury				Total BB&T
		Insurance Services				Financial Services				and Corporate (1)				Corporation
		2014		2013		2014		2013		2014		2013		2014		2013
		(Dollars in millions)
Net interest income (expense)		$	1	$	―	$	42	$	40	$	145	$	162	$	1,343	$	1,415
Net intersegment interest income (expense)			2		2		68		75		(46)		(99)		―		―
Segment net interest income			3		2		110		115		99		63		1,343		1,415
Allocated provision for loan and lease losses			―		―		3		13		(7)		(52)		74		168
Noninterest income			424		427		189		184		(115)		(81)		933		1,046
Intersegment net referral fees (expense)			―		―		7		10		(36)		(61)		―		―
Noninterest expense			309		292		164		156		372		387		1,528		1,469
Amortization of intangibles			14		15		―		―		―		1		23		27
Allocated corporate expenses			17		14		30		26		(374)		(341)		―		―
Income (loss) before income taxes			87		108		109		114		(43)		(74)		651		797
Provision (benefit) for income taxes			29		37		41		43		(71)		(90)		173		221
Segment net income (loss)		$	58	$	71	$	68	$	71	$	28	$	16	$	478	$	576
Identifiable assets (period end)		$	3,015	$	3,164	$	11,972	$	10,024	$	51,691	$	48,876	$	188,012	$	183,392
(1)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

BB&T Corporation
Reportable Segments
Six Months Ended June 30, 2014 and 2013
		Community				Residential				Dealer				Specialized
		Banking				Mortgage Banking				Financial Services				Lending
		2014		2013		2014		2013		2014		2013		2014		2013
			(Dollars in millions)
Net interest income (expense)		$	854	$	849	$	753	$	799	$	409	$	415	$	281	$	352
Net intersegment interest income (expense)			598		692		(501)		(502)		(77)		(79)		(68)		(62)
Segment net interest income			1,452		1,541		252		297		332		336		213		290
Allocated provision for loan and lease losses			51		225		(21)		23		104		109		22		79
Noninterest income			611		597		128		312		1		3		100		106
Intersegment net referral fees (expense)			55		105		1		―		―		―		―		―
Noninterest expense			791		870		292		176		57		54		103		128
Amortization of intangibles			16		19		―		―		―		―		2		3
Allocated corporate expenses			568		520		42		33		14		15		29		32
Income (loss) before income taxes			692		609		68		377		158		161		157		154
Provision (benefit) for income taxes			253		222		26		143		60		62		38		36
Segment net income (loss)		$	439	$	387	$	42	$	234	$	98	$	99	$	119	$	118
Identifiable assets (period end)		$	54,707	$	55,789	$	36,448	$	36,912	$	12,513	$	11,188	$	17,666	$	17,439
										Other, Treasury				Total BB&T
		Insurance Services				Financial Services				and Corporate (1)				Corporation
		2014		2013		2014		2013		2014		2013		2014		2013
		(Dollars in millions)
Net interest income (expense)		$	1	$	1	$	82	$	75	$	310	$	346	$	2,690	$	2,837
Net intersegment interest income (expense)			3		3		134		155		(89)		(207)		―		―
Segment net interest income			4		4		216		230		221		139		2,690		2,837
Allocated provision for loan and lease losses			―		―		3		22		(25)		(18)		134		440
Noninterest income			855		793		366		360		(217)		(124)		1,844		2,047
Intersegment net referral fees (expense)			―		―		13		18		(69)		(123)		―		―
Noninterest expense			612		580		313		308		740		740		2,908		2,856
Amortization of intangibles			27		30		1		1		―		1		46		54
Allocated corporate expenses			34		29		60		50		(747)		(679)		―		―
Income (loss) before income taxes			186		158		218		227		(33)		(152)		1,446		1,534
Provision (benefit) for income taxes			53		52		82		85		(122)		102		390		702
Segment net income (loss)		$	133	$	106	$	136	$	142	$	89	$	(254)	$	1,056	$	832
Identifiable assets (period end)		$	3,015	$	3,164	$	11,972	$	10,024	$	51,691	$	48,876	$	188,012	$	183,392
(1)	Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.