Quarterly Performance Summary

BB&T Corporation

Second Quarter 2019

Table of Contents
Quarterly Performance Summary
BB&T Corporation
	Page
Financial Highlights	1
Financial Highlights - Five Quarter Trend	2
Consolidated Statements of Income	3
Consolidated Statements of Income - Five Quarter Trend	4
Segment Financial Performance - Five Quarter Trend	5
Consolidated Ending Balance Sheets - Five Quarter Trend	6
Average Balance Sheets	7
Average Balance Sheets - Five Quarter Trend	8
Average Balances and Rates - Quarters	9
Average Balances and Rates - Year-To-Date	11
Credit Quality	12
Capital Information - Five Quarter Trend	15
Selected Items, Selected Mortgage Banking Information & Additional Information	16
Non-GAAP Reconciliations	17

Financial Highlights
	Quarter Ended								Year-to-Date
	June 30						%		June 30						%
(Dollars in millions, except per share data, shares in thousands)	2019			2018			Change		2019			2018			Change
Summary Income Statement
Interest income	$	2,230		$	2,016		10.6	%	$	4,427		$	3,960		11.8	%
Interest expense	516			337			53.1		993			625			58.9
Net interest income - taxable equivalent	1,714			1,679			2.1		3,434			3,335			3.0
Less: Taxable-equivalent adjustment	24			22			9.1		48			45			6.7
Net interest income	1,690			1,657			2.0		3,386			3,290			2.9
Provision for credit losses	172			135			27.4		327			285			14.7
Net interest income after provision for credit losses	1,518			1,522			(0.3	)	3,059			3,005			1.8
Noninterest income	1,352			1,222			10.6		2,554			2,402			6.3
Noninterest expense	1,751			1,720			1.8		3,519			3,406			3.3
Income before income taxes	1,119			1,024			9.3		2,094			2,001			4.6
Provision for income taxes	234			202			15.8		411			388			5.9
Net income	885			822			7.7		1,683			1,613			4.3
Noncontrolling interests	(1		)	3			(133.3	)	5			6			(16.7	)
Preferred stock dividends	44			44			—		87			87			—
Net income available to common shareholders	842			775			8.6		1,591			1,520			4.7
Per Common Share Data
Earnings per share-basic	$	1.10		$	1.00		10.0	%	$	2.08		$	1.95		6.7	%
Earnings per share-diluted	1.09			0.99			10.1		2.06			1.93			6.7
Cash dividends declared	0.405			0.375			8.0		0.810			0.750			8.0
Common equity	37.40			34.51			8.4		37.40			34.51			8.4
Tangible common equity (1)	23.93			21.53			11.1		23.93			21.53			11.1
End of period shares outstanding	766,010			774,447			(1.1	)	766,010			774,447			(1.1	)
Weighted average shares outstanding-basic	765,958			775,836			(1.3	)	765,052			777,716			(1.6	)
Weighted average shares outstanding-diluted	774,603			785,750			(1.4	)	774,329			788,362			(1.8	)
Performance Ratios
Return on average assets	1.55		%	1.49		%			1.49		%	1.47		%
Return on average risk-weighted assets	1.91			1.85					1.85			1.83
Return on average common shareholders' equity	11.98			11.74					11.54			11.59
Return on average tangible common shareholders' equity (2)	19.45			19.52					18.92			19.32
Net interest margin - taxable equivalent	3.42			3.45					3.47			3.45
Fee income ratio	44.4			42.5					43.0			42.2
Efficiency ratio-GAAP	57.6			59.7					59.3			59.8
Efficiency ratio-adjusted (2)	55.1			57.4					55.8			57.4
Credit Quality
Nonperforming assets as a percentage of:
Assets	0.23		%	0.28		%			0.23		%	0.28		%
Loans and leases plus foreclosed property	0.34			0.43					0.34			0.43
Net charge-offs as a percentage of average loans and leases	0.38			0.30					0.39			0.36
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.05			1.05					1.05			1.05
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	3.46x			2.74x					3.46x			2.74x
Average Balances
Assets	$	229,249		$	221,344		3.6	%	$	227,421		$	221,381		2.7	%
Securities (3)	46,115			47,145			(2.2	)	46,423			47,756			(2.8	)
Loans and leases	151,557			145,752			4.0		150,181			144,834			3.7
Deposits	159,891			157,676			1.4		159,968			157,409			1.6
Common shareholders' equity	28,188			26,483			6.4		27,812			26,455			5.1
Shareholders' equity	31,301			29,585			5.8		30,923			29,556			4.6
Period-End Balances
Assets	$	230,872		$	222,681		3.7	%	$	230,872		$	222,681		3.7	%
Securities (3)	45,289			45,668			(0.8	)	45,289			45,668			(0.8	)
Loans and leases	153,823			147,798			4.1		153,823			147,798			4.1
Deposits	159,521			159,475			—		159,521			159,475			—
Common shareholders' equity	28,650			26,727			7.2		28,650			26,727			7.2
Shareholders' equity	31,764			29,832			6.5		31,764			29,832			6.5
Capital Ratios (current quarter is preliminary)
Risk-based:
Common equity Tier 1	10.3		%	10.2		%			10.3		%	10.2		%
Tier 1	12.0			11.9					12.0			11.9
Total	14.2			13.9					14.2			13.9
Leverage	10.2			10.0					10.2			10.0
Applicable ratios are annualized.
(1) Represents a non-GAAP measure. See the calculations and management's reasons for using this measure in the Preliminary Capital Information - Five Quarter Trend section of this supplement.
(2) Represents 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) Includes AFS and HTM 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.

BB&T Corporation 1

Financial Highlights - Five Quarter Trend
	Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
(Dollars in millions, except per share data, shares in thousands)	2019			2019			2018			2018			2018
Summary Income Statement
Interest income	$	2,230		$	2,197		$	2,160		$	2,096		$	2,016
Interest expense	516			477			431			382			337
Net interest income - taxable equivalent	1,714			1,720			1,729			1,714			1,679
Less: Taxable-equivalent adjustment	24			24			24			27			22
Net interest income	1,690			1,696			1,705			1,687			1,657
Provision for credit losses	172			155			146			135			135
Net interest income after provision for credit losses	1,518			1,541			1,559			1,552			1,522
Noninterest income	1,352			1,202			1,235			1,239			1,222
Noninterest expense	1,751			1,768			1,784			1,742			1,720
Income before income taxes	1,119			975			1,010			1,049			1,024
Provision for income taxes	234			177			205			210			202
Net income	885			798			805			839			822
Noncontrolling interests	(1		)	6			7			7			3
Preferred stock dividends	44			43			44			43			44
Net income available to common shareholders	842			749			754			789			775
Per Common Share Data
Earnings per share-basic	$	1.10		$	0.98		$	0.99		$	1.02		$	1.00
Earnings per share-diluted	1.09			0.97			0.97			1.01			0.99
Cash dividends declared	0.405			0.405			0.405			0.405			0.375
Common equity	37.40			36.26			35.46			34.90			34.51
Tangible common equity (1)	23.93			22.78			21.89			21.40			21.53
End of period shares outstanding	766,010			765,920			763,326			770,620			774,447
Weighted average shares outstanding-basic	765,958			764,135			765,013			771,562			775,836
Weighted average shares outstanding-diluted	774,603			774,071			775,402			781,867			785,750
Performance Ratios
Return on average assets	1.55		%	1.43		%	1.43		%	1.49		%	1.49		%
Return on average risk-weighted assets	1.91			1.78			1.77			1.85			1.85
Return on average common shareholders' equity	11.98			11.08			11.14			11.69			11.74
Return on average tangible common shareholders' equity (2)	19.45			18.36			18.77			19.74			19.52
Net interest margin - taxable equivalent	3.42			3.51			3.49			3.47			3.45
Fee income ratio	44.4			41.5			42.0			42.3			42.5
Efficiency ratio-GAAP	57.6			61.0			60.7			59.5			59.7
Efficiency ratio-adjusted (2)	55.1			56.6			56.5			57.3			57.4
Credit Quality
Nonperforming assets as a percentage of:
Assets	0.23		%	0.26		%	0.26		%	0.27		%	0.28		%
Loans and leases plus foreclosed property	0.34			0.39			0.39			0.41			0.43
Net charge-offs as a percentage of average loans and leases	0.38			0.40			0.38			0.35			0.30
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.05			1.05			1.05			1.05			1.05
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	3.46x			2.97x			2.99x			2.86x			2.74x
Average Balances
Assets	$	229,249		$	225,573		$	223,625		$	222,674		$	221,344
Securities (3)	46,115			46,734			46,610			46,299			47,145
Loans and leases	151,557			148,790			148,457			147,489			145,752
Deposits	159,891			160,045			157,842			157,271			157,676
Common shareholders' equity	28,188			27,432			26,860			26,782			26,483
Shareholders' equity	31,301			30,541			29,965			29,887			29,585
Period-End Balances
Assets	$	230,872		$	227,683		$	225,697		$	222,885		$	222,681
Securities (3)	45,289			46,410			45,590			45,368			45,668
Loans and leases	153,823			149,891			150,001			147,712			147,798
Deposits	159,521			159,766			161,199			154,556			159,475
Common shareholders' equity	28,650			27,770			27,069			26,895			26,727
Shareholders' equity	31,764			30,883			30,178			30,007			29,832
Capital Ratios (current quarter is preliminary)
Risk-based:
Common equity Tier 1	10.3		%	10.3		%	10.2		%	10.2		%	10.2		%
Tier 1	12.0			12.0			11.8			11.9			11.9
Total	14.2			14.2			13.8			13.9			13.9
Leverage	10.2			10.1			9.9			10.0			10.0
Applicable ratios are annualized.
(1) Represents a non-GAAP measure. See the calculations and management's reasons for using this measure in the Preliminary Capital Information - Five Quarter Trend section of this supplement.
(2) Represents 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) Includes AFS and HTM 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.

2 BB&T Corporation

Consolidated Statements of Income
	Quarter Ended										Year-to-Date
	June 30					Change					June 30				Change
(Dollars in millions, except per share data, shares in thousands)	2019			2018		$			%		2019		2018		$			%
Interest Income
Interest and fees on loans and leases	$	1,886		$	1,687	$	199		11.8	%	$	3,725	$	3,292	$	433		13.2	%
Interest and dividends on securities	300			294		6			2.0		602		585		17			2.9
Interest on other earning assets	20			13		7			53.8		52		38		14			36.8
Total interest income	2,206			1,994		212			10.6		4,379		3,915		464			11.9
Interest Expense
Interest on deposits	273			148		125			84.5		526		266		260			97.7
Interest on short-term borrowings	50			23		27			117.4		82		43		39			90.7
Interest on long-term debt	193			166		27			16.3		385		316		69			21.8
Total interest expense	516			337		179			53.1		993		625		368			58.9
Net Interest Income	1,690			1,657		33			2.0		3,386		3,290		96			2.9
Provision for credit losses	172			135		37			27.4		327		285		42			14.7
Net Interest Income After Provision for Credit Losses	1,518			1,522		(4		)	(0.3	)	3,059		3,005		54			1.8
Noninterest Income
Insurance income	566			481		85			17.7		1,076		917		159			17.3
Service charges on deposits	181			179		2			1.1		352		344		8			2.3
Investment banking and brokerage fees and commissions	131			109		22			20.2		242		222		20			9.0
Mortgage banking income	113			94		19			20.2		176		193		(17		)	(8.8	)
Trust and investment advisory revenues	70			72		(2		)	(2.8	)	138		144		(6		)	(4.2	)
Bankcard fees and merchant discounts	77			72		5			6.9		147		141		6			4.3
Checkcard fees	59			57		2			3.5		114		109		5			4.6
Operating lease income	35			36		(1		)	(2.8	)	70		73		(3		)	(4.1	)
Income from bank-owned life insurance	34			30		4			13.3		62		61		1			1.6
Securities gains (losses), net	—			1		(1		)	NM		—		1		(1		)	NM
Other income	86			91		(5		)	(5.5	)	177		197		(20		)	(10.2	)
Total noninterest income	1,352			1,222		130			10.6		2,554		2,402		152			6.3
Noninterest Expense
Personnel expense	1,120			1,074		46			4.3		2,207		2,113		94			4.4
Occupancy and equipment expense	184			187		(3		)	(1.6	)	371		381		(10		)	(2.6	)
Software expense	71			67		4			6.0		143		132		11			8.3
Outside IT services	29			32		(3		)	(9.4	)	59		64		(5		)	(7.8	)
Regulatory charges	19			39		(20		)	(51.3	)	37		79		(42		)	(53.2	)
Amortization of intangibles	32			31		1			3.2		64		64		—			—
Loan-related expense	30			26		4			15.4		55		55		—			—
Professional services	31			32		(1		)	(3.1	)	62		62		—			—
Merger-related and restructuring charges, net	23			24		(1		)	(4.2	)	103		52		51			98.1
Other expense	212			208		4			1.9		418		404		14			3.5
Total noninterest expense	1,751			1,720		31			1.8		3,519		3,406		113			3.3
Earnings
Income before income taxes	1,119			1,024		95			9.3		2,094		2,001		93			4.6
Provision for income taxes	234			202		32			15.8		411		388		23			5.9
Net income	885			822		63			7.7		1,683		1,613		70			4.3
Noncontrolling interests	(1		)	3		(4		)	(133.3	)	5		6		(1		)	(16.7	)
Preferred stock dividends	44			44		—			—		87		87		—			—
Net income available to common shareholders	$	842		$	775	$	67		8.6	%	$	1,591	$	1,520	$	71		4.7	%
Earnings Per Common Share
Basic	$	1.10		$	1.00	$	0.10		10.0	%	$	2.08	$	1.95	$	0.13		6.7	%
Diluted	1.09			0.99		0.10			10.1		2.06		1.93		0.13			6.7
Weighted Average Shares Outstanding
Basic	765,958			775,836		(9,878		)	(1.3	)	765,052		777,716		(12,664)			(1.6	)
Diluted	774,603			785,750		(11,147		)	(1.4	)	774,329		788,362		(14,033)			(1.8	)
NM - not meaningful

BB&T Corporation 3

Consolidated Statements of Income - Five Quarter Trend
	Quarter Ended
	June 30			March 31		Dec. 31		Sept. 30		June 30
(Dollars in millions, except per share data, shares in thousands)	2019			2019		2018		2018		2018
Interest Income
Interest and fees on loans and leases	$	1,886		$	1,839	$	1,830	$	1,772	$	1,687
Interest and dividends on securities	300			302		292		283		294
Interest on other earning assets	20			32		14		14		13
Total interest income	2,206			2,173		2,136		2,069		1,994
Interest Expense
Interest on deposits	273			253		206		172		148
Interest on short-term borrowings	50			32		39		29		23
Interest on long-term debt	193			192		186		181		166
Total interest expense	516			477		431		382		337
Net Interest Income	1,690			1,696		1,705		1,687		1,657
Provision for credit losses	172			155		146		135		135
Net Interest Income After Provision for Credit Losses	1,518			1,541		1,559		1,552		1,522
Noninterest Income
Insurance income	566			510		487		448		481
Service charges on deposits	181			171		185		183		179
Investment banking and brokerage fees and commissions	131			111		139		116		109
Mortgage banking income	113			63		86		79		94
Trust and investment advisory revenues	70			68		70		71		72
Bankcard fees and merchant discounts	77			70		74		72		72
Checkcard fees	59			55		56		56		57
Operating lease income	35			35		35		37		36
Income from bank-owned life insurance	34			28		28		27		30
Securities gains (losses), net	—			—		2		—		1
Other income	86			91		73		150		91
Total noninterest income	1,352			1,202		1,235		1,239		1,222
Noninterest Expense
Personnel expense	1,120			1,087		1,096		1,104		1,074
Occupancy and equipment expense	184			187		188		189		187
Software expense	71			72		70		70		67
Outside IT services	29			30		35		33		32
Regulatory charges	19			18		18		37		39
Amortization of intangibles	32			32		34		33		31
Loan-related expense	30			25		25		28		26
Professional services	31			31		43		33		32
Merger-related and restructuring charges, net	23			80		76		18		24
Other expense	212			206		199		197		208
Total noninterest expense	1,751			1,768		1,784		1,742		1,720
Earnings
Income before income taxes	1,119			975		1,010		1,049		1,024
Provision for income taxes	234			177		205		210		202
Net income	885			798		805		839		822
Noncontrolling interests	(1		)	6		7		7		3
Preferred stock dividends	44			43		44		43		44
Net income available to common shareholders	$	842		$	749	$	754	$	789	$	775
Earnings Per Common Share
Basic	$	1.10		$	0.98	$	0.99	$	1.02	$	1.00
Diluted	1.09			0.97		0.97		1.01		0.99
Weighted Average Shares Outstanding
Basic	765,958			764,135		765,013		771,562		775,836
Diluted	774,603			774,071		775,402		781,867		785,750

4 BB&T Corporation

Segment Financial Performance - Preliminary
	Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
(Dollars in millions)	2019			2019			2018			2018			2018
Community Banking Retail and Consumer Finance
Net interest income (expense)	$	850		$	843		$	881		$	880		$	853
Net intersegment interest income (expense)	126			109			87			76			69
Segment net interest income	976			952			968			956			922
Allocated provision for credit losses	123			130			151			121			110
Noninterest income	387			322			352			347			355
Noninterest expense	654			645			658			657			659
Income (loss) before income taxes	586			499			511			525			508
Provision (benefit) for income taxes	141			120			124			129			125
Segment net income (loss)	$	445		$	379		$	387		$	396		$	383
Community Banking Commercial
Net interest income (expense)	$	541		$	536		$	532		$	513		$	491
Net intersegment interest income (expense)	47			44			59			58			54
Segment net interest income	588			580			591			571			545
Allocated provision for credit losses	39			19			14			18			43
Noninterest income	114			109			112			110			110
Noninterest expense	255			251			267			262			254
Income (loss) before income taxes	408			419			422			401			358
Provision (benefit) for income taxes	89			91			93			90			80
Segment net income (loss)	$	319		$	328		$	329		$	311		$	278
Financial Services and Commercial Finance
Net interest income (expense)	$	197		$	189		$	190		$	171		$	169
Net intersegment interest income (expense)	13			21			21			26			19
Segment net interest income	210			210			211			197			188
Allocated provision for credit losses	14			1			5			5			(4		)
Noninterest income	329			284			323			308			303
Noninterest expense	311			297			334			312			312
Income (loss) before income taxes	214			196			195			188			183
Provision (benefit) for income taxes	45			40			40			39			38
Segment net income (loss)	$	169		$	156		$	155		$	149		$	145
Insurance Holdings
Net interest income (expense)	$	35		$	34		$	32		$	32		$	29
Net intersegment interest income (expense)	(10		)	(11		)	(10		)	(9		)	(7		)
Segment net interest income	25			23			22			23			22
Allocated provision for credit losses	2			3			—			1			—
Noninterest income	570			515			496			452			484
Noninterest expense	444			417			415			416			408
Income (loss) before income taxes	149			118			103			58			98
Provision (benefit) for income taxes	38			30			26			15			25
Segment net income (loss)	$	111		$	88		$	77		$	43		$	73
Other, Treasury & Corporate (1)
Net interest income (expense)	$	67		$	94		$	70		$	91		$	115
Net intersegment interest income (expense)	(176		)	(163		)	(157		)	(151		)	(135		)
Segment net interest income	(109		)	(69		)	(87		)	(60		)	(20		)
Allocated provision for credit losses	(6		)	2			(24		)	(10		)	(14		)
Noninterest income	(48		)	(28		)	(48		)	22			(30		)
Noninterest expense	87			158			110			95			87
Income (loss) before income taxes	(238		)	(257		)	(221		)	(123		)	(123		)
Provision (benefit) for income taxes	(79		)	(104		)	(78		)	(63		)	(66		)
Segment net income (loss)	$	(159	)	$	(153	)	$	(143	)	$	(60	)	$	(57	)
Total BB&T Corporation
Net interest income (expense)	$	1,690		$	1,696		$	1,705		$	1,687		$	1,657
Net intersegment interest income (expense)	—			—			—			—			—
Segment net interest income	1,690			1,696			1,705			1,687			1,657
Allocated provision for credit losses	172			155			146			135			135
Noninterest income	1,352			1,202			1,235			1,239			1,222
Noninterest expense	1,751			1,768			1,784			1,742			1,720
Income (loss) before income taxes	1,119			975			1,010			1,049			1,024
Provision (benefit) for income taxes	234			177			205			210			202
Net income	$	885		$	798		$	805		$	839		$	822
(1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

BB&T Corporation 5

Consolidated Ending Balance Sheets - Five Quarter Trend
	June 30			March 31			Dec. 31			Sept. 30			June 30
(Dollars in millions)	2019			2019			2018			2018			2018
Assets
Cash and due from banks	$	1,831		$	1,873		$	2,753		$	2,123		$	2,046
Interest-bearing deposits with banks	707			751			984			748			662
Cash equivalents	148			252			143			135			213
Restricted cash	15			96			107			147			132
Securities available for sale at fair value	25,802			26,315			25,038			24,286			23,919
Securities held to maturity at amortized cost	19,487			20,095			20,552			21,082			21,749
Loans and leases:
Commercial:
Commercial and industrial	63,693			61,978			61,935			59,722			60,474
CRE	20,722			20,829			21,060			21,466			21,610
Lease financing	2,203			2,098			2,018			2,028			1,924
Retail:
Residential mortgage	32,607			31,572			31,393			30,821			29,965
Direct	11,492			11,464			11,584			11,618			11,661
Indirect	18,209			17,523			17,425			17,468			17,140
Revolving credit	3,239			3,152			3,132			3,070			2,876
PCI	421			441			466			497			533
Total loans and leases held for investment	152,586			149,057			149,013			146,690			146,183
Loans held for sale	1,237			834			988			1,022			1,615
Total loans and leases	153,823			149,891			150,001			147,712			147,798
Allowance for loan and lease losses	(1,595		)	(1,561		)	(1,558		)	(1,538		)	(1,530		)
Premises and equipment	2,029			2,078			2,118			2,154			2,154
Goodwill	9,830			9,818			9,818			9,832			9,617
Core deposit and other intangible assets	712			726			758			789			647
Mortgage servicing rights at fair value	970			1,036			1,108			1,179			1,143
Other assets	17,113			16,313			13,875			14,236			14,131
Total assets	$	230,872		$	227,683		$	225,697		$	222,885		$	222,681
Liabilities
Deposits:
Noninterest-bearing deposits	$	52,458		$	53,021		$	53,025		$	53,646		$	54,270
Interest checking	28,021			28,028			28,130			26,590			27,257
Money market and savings	63,972			63,739			63,467			61,597			63,167
Time deposits	15,070			14,978			16,577			12,723			14,781
Total deposits	159,521			159,766			161,199			154,556			159,475
Short-term borrowings	10,344			6,305			5,178			9,652			3,576
Long-term debt	22,640			24,729			23,709			23,236			24,081
Accounts payable and other liabilities	6,603			6,000			5,433			5,434			5,717
Total liabilities	199,108			196,800			195,519			192,878			192,849
Shareholders' Equity:
Preferred stock	3,053			3,053			3,053			3,053			3,053
Common stock	3,830			3,830			3,817			3,853			3,872
Additional paid-in capital	6,889			6,843			6,849			7,221			7,364
Retained earnings	19,050			18,518			18,118			17,673			17,197
Accumulated other comprehensive loss	(1,119		)	(1,421		)	(1,715		)	(1,852		)	(1,706		)
Noncontrolling interests	61			60			56			59			52
Total shareholders' equity	31,764			30,883			30,178			30,007			29,832
Total liabilities and shareholders' equity	$	230,872		$	227,683		$	225,697		$	222,885		$	222,681
New lease accounting guidance was adopted prospectively in 1Q19 that requires lessees to recognize assets and liabilities related to certain operating leases on the balance sheet.

6 BB&T Corporation

Average Balance Sheets
	Quarter Ended									Year-to-Date
	June 30				Change					June 30				Change
(Dollars in millions)	2019		2018		$			%		2019		2018		$			%
Assets
Securities at amortized cost (1):
U.S. Treasury	$	2,662	$	3,537	$	(875	)	(24.7	)%	$	2,980	$	3,538	$	(558	)	(15.8	)%
U.S. government-sponsored entities (GSE)	2,440		2,384		56			2.3		2,429		2,384		45			1.9
Mortgage-backed securities issued by GSE	40,112		39,777		335			0.8		40,078		40,292		(214		)	(0.5	)
States and political subdivisions	566		1,051		(485		)	(46.1	)	593		1,133		(540		)	(47.7	)
Non-agency mortgage-backed	302		354		(52		)	(14.7	)	308		364		(56		)	(15.4	)
Other	33		42		(9		)	(21.4	)	35		45		(10		)	(22.2	)
Total securities	46,115		47,145		(1,030		)	(2.2	)	46,423		47,756		(1,333		)	(2.8	)
Other earning assets	3,167		2,197		970			44.2		2,684		2,223		461			20.7
Loans and leases:
Commercial:
Commercial and industrial	62,563		59,548		3,015			5.1		61,970		59,090		2,880			4.9
CRE	20,748		21,546		(798		)	(3.7	)	20,826		21,472		(646		)	(3.0	)
Lease financing	2,122		1,862		260			14.0		2,071		1,867		204			10.9
Retail:
Residential mortgage	32,066		29,272		2,794			9.5		31,720		29,049		2,671			9.2
Direct	11,506		11,680		(174		)	(1.5	)	11,500		11,735		(235		)	(2.0	)
Indirect	17,879		16,804		1,075			6.4		17,609		16,859		750			4.4
Revolving credit	3,151		2,831		320			11.3		3,131		2,815		316			11.2
PCI	432		559		(127		)	(22.7	)	444		595		(151		)	(25.4	)
Total loans and leases held for investment	150,467		144,102		6,365			4.4		149,271		143,482		5,789			4.0
Loans held for sale	1,090		1,650		(560		)	(33.9	)	910		1,352		(442		)	(32.7	)
Total loans and leases	151,557		145,752		5,805			4.0		150,181		144,834		5,347			3.7
Total earning assets	200,839		195,094		5,745			2.9		199,288		194,813		4,475			2.3
Nonearning assets	28,410		26,250		2,160			8.2		28,133		26,568		1,565			5.9
Total assets	$	229,249	$	221,344	$	7,905		3.6	%	$	227,421	$	221,381	$	6,040		2.7	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	52,680	$	53,963	$	(1,283	)	(2.4	)%	$	52,484	$	53,681	$	(1,197	)	(2.2	)%
Interest checking	27,708		26,969		739			2.7		27,665		27,119		546			2.0
Money market and savings	63,394		62,105		1,289			2.1		63,360		61,899		1,461			2.4
Time deposits	15,730		13,966		1,764			12.6		16,059		13,907		2,152			15.5
Foreign office deposits - interest-bearing	379		673		(294		)	(43.7	)	400		803		(403		)	(50.2	)
Total deposits	159,891		157,676		2,215			1.4		159,968		157,409		2,559			1.6
Short-term borrowings	8,367		5,323		3,044			57.2		7,003		5,399		1,604			29.7
Long-term debt	23,233		23,639		(406		)	(1.7	)	23,240		23,658		(418		)	(1.8	)
Accounts payable and other liabilities	6,457		5,121		1,336			26.1		6,287		5,359		928			17.3
Total liabilities	197,948		191,759		6,189			3.2		196,498		191,825		4,673			2.4
Shareholders' equity	31,301		29,585		1,716			5.8		30,923		29,556		1,367			4.6
Total liabilities and shareholders' equity	$	229,249	$	221,344	$	7,905		3.6	%	$	227,421	$	221,381	$	6,040		2.7	%
New lease accounting guidance was adopted prospectively in 1Q19 that requires lessees to recognize assets and liabilities related to certain operating leases on the balance sheet.
Average balances exclude basis adjustments for fair value hedges.
(1) Includes AFS and HTM securities.

BB&T Corporation 7

Average Balance Sheets - Five Quarter Trend
	Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
(Dollars in millions)	2019		2019		2018		2018		2018
Assets
Securities at amortized cost (1):
U.S. Treasury	$	2,662	$	3,302	$	4,555	$	3,561	$	3,537
U.S. government-sponsored entities (GSE)	2,440		2,418		2,408		2,399		2,384
Mortgage-backed securities issued by GSE	40,112		40,044		38,566		39,111		39,777
States and political subdivisions	566		620		725		849		1,051
Non-agency mortgage-backed	302		315		326		340		354
Other	33		35		30		39		42
Total securities	46,115		46,734		46,610		46,299		47,145
Other earning assets	3,167		2,197		2,146		2,412		2,197
Loans and leases:
Commercial:
Commercial and industrial	62,563		61,370		60,553		59,900		59,548
CRE	20,748		20,905		21,301		21,496		21,546
Lease financing	2,122		2,021		1,990		1,941		1,862
Retail:
Residential mortgage	32,066		31,370		31,103		30,500		29,272
Direct	11,506		11,493		11,600		11,613		11,680
Indirect	17,879		17,337		17,436		17,282		16,804
Revolving credit	3,151		3,110		3,070		2,947		2,831
PCI	432		455		486		518		559
Total loans and leases held for investment	150,467		148,061		147,539		146,197		144,102
Loans held for sale	1,090		729		918		1,292		1,650
Total loans and leases	151,557		148,790		148,457		147,489		145,752
Total earning assets	200,839		197,721		197,213		196,200		195,094
Nonearning assets	28,410		27,852		26,412		26,474		26,250
Total assets	$	229,249	$	225,573	$	223,625	$	222,674	$	221,344
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	52,680	$	52,283	$	53,732	$	54,174	$	53,963
Interest checking	27,708		27,622		26,921		26,655		26,969
Money market and savings	63,394		63,325		62,261		62,957		62,105
Time deposits	15,730		16,393		14,682		13,353		13,966
Foreign office deposits - interest-bearing	379		422		246		132		673
Total deposits	159,891		160,045		157,842		157,271		157,676
Short-term borrowings	8,367		5,624		6,979		6,023		5,323
Long-term debt	23,233		23,247		23,488		24,211		23,639
Accounts payable and other liabilities	6,457		6,116		5,351		5,282		5,121
Total liabilities	197,948		195,032		193,660		192,787		191,759
Shareholders' equity	31,301		30,541		29,965		29,887		29,585
Total liabilities and shareholders' equity	$	229,249	$	225,573	$	223,625	$	222,674	$	221,344
New lease accounting guidance was adopted prospectively in 1Q19 that requires lessees to recognize assets and liabilities related to certain operating leases on the balance sheet.
Average balances exclude basis adjustments for fair value hedges.
(1) Includes AFS and HTM securities.

8 BB&T Corporation

Average Balances and Rates - Quarters
	Quarter Ended
	June 30, 2019						March 31, 2019
	(1)		Interest		(2)		(1)		Interest		(2)
	Average		Income/		Yields/		Average		Income/		Yields/
(Dollars in millions)	Balances		Expense		Rates		Balances		Expense		Rates
Assets
Securities at amortized cost (3):
U.S. Treasury	$	2,662	$	14	2.04	%	$	3,302	$	16	2.01	%
U.S. government-sponsored entities (GSE)	2,440		13		2.25		2,418		14		2.24
Mortgage-backed securities issued by GSE	40,112		258		2.57		40,044		258		2.58
States and political subdivisions	566		6		4.37		620		6		3.73
Non-agency mortgage-backed	302		10		13.28		315		10		12.51
Other	33		1		3.85		35		—		3.96
Total securities	46,115		302		2.62		46,734		304		2.60
Other earning assets	3,167		20		2.59		2,197		33		6.01
Loans and leases:
Commercial:
Commercial and industrial	62,563		679		4.35		61,370		656		4.33
CRE	20,748		260		5.03		20,905		261		5.06
Lease financing	2,122		17		3.29		2,021		17		3.33
Retail:
Residential mortgage	32,066		321		4.00		31,370		324		4.13
Direct	11,506		166		5.80		11,493		163		5.75
Indirect	17,879		356		7.99		17,337		338		7.91
Revolving credit	3,151		74		9.39		3,110		73		9.49
PCI	432		24		21.63		455		20		17.99
Total loans and leases held for investment	150,467		1,897		5.05		148,061		1,852		5.06
Loans held for sale	1,090		11		4.17		729		8		4.38
Total loans and leases	151,557		1,908		5.05		148,790		1,860		5.06
Total earning assets	200,839		2,230		4.45		197,721		2,197		4.49
Nonearning assets	28,410						27,852
Total assets	$	229,249					$	225,573
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	27,708	45		0.65		$	27,622	40		0.59
Money market and savings	63,394		163		1.03		63,325		150		0.96
Time deposits	15,730		63		1.58		16,393		60		1.50
Foreign office deposits - interest-bearing	379		2		2.43		422		3		2.43
Total interest-bearing deposits	107,211		273		1.02		107,762		253		0.95
Short-term borrowings	8,367		50		2.40		5,624		32		2.32
Long-term debt	23,233		193		3.33		23,247		192		3.30
Total interest-bearing liabilities	138,811		516		1.49		136,633		477		1.41
Noninterest-bearing deposits	52,680						52,283
Accounts payable and other liabilities	6,457						6,116
Shareholders' equity	31,301						30,541
Total liabilities and shareholders' equity	$	229,249					$	225,573
Average interest-rate spread					2.96						3.08
Net interest income/ net interest margin			$	1,714	3.42	%			$	1,720	3.51	%
Taxable-equivalent adjustment			$	24					$	24
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis utilizing the marginal income tax rates for the periods presented.
(3) Includes AFS and HTM securities.

BB&T Corporation 9

Average Balances and Rates - Quarters
	Quarter Ended
	December 31, 2018						September 30, 2018						June 30, 2018
	(1)		Interest		(2)		(1)		Interest		(2)		(1)		Interest		(2)
	Average		Income/		Yields/		Average		Income/		Yields/		Average		Income/		Yields/
(Dollars in millions)	Balances		Expense		Rates		Balances		Expense		Rates		Balances		Expense		Rates
Assets
Securities at amortized cost (3):
U.S. Treasury	$	4,555	$	25	2.11	%	$	3,561	$	15	1.80	%	$	3,537	$	17	1.80	%
U.S. government-sponsored entities (GSE)	2,408		14		2.24		2,399		13		2.23		2,384		14		2.23
Mortgage-backed securities issued by GSE	38,566		241		2.50		39,111		239		2.45		39,777		241		2.44
States and political subdivisions	725		6		3.53		849		10		3.50		1,051		8		3.79
Non-agency mortgage-backed	326		10		11.50		340		8		11.32		354		17		17.35
Other	30		—		4.51		39		1		3.79		42		—		3.26
Total securities	46,610		296		2.53		46,299		286		2.47		47,145		297		2.53
Other earning assets	2,146		14		2.54		2,412		15		2.52		2,197		13		2.24
Loans and leases:
Commercial:
Commercial and industrial	60,553		645		4.23		59,900		612		4.04		59,548		580		3.92
CRE	21,301		261		4.88		21,496		260		4.80		21,546		252		4.64
Lease financing	1,990		18		3.64		1,941		17		3.04		1,862		12		3.05
Retail:
Residential mortgage	31,103		319		4.10		30,500		313		4.08		29,272		291		4.01
Direct	11,600		164		5.56		11,613		155		5.34		11,680		150		5.10
Indirect	17,436		335		7.69		17,282		335		7.56		16,804		311		7.46
Revolving credit	3,070		72		9.39		2,947		63		9.47		2,831		67		9.16
PCI	486		26		20.49		518		26		20.14		559		26		18.92
Total loans and leases held for investment	147,539		1,840		4.96		146,197		1,781		4.83		144,102		1,689		4.70
Loans held for sale	918		10		4.66		1,292		14		4.28		1,650		17		4.02
Total loans and leases	148,457		1,850		4.96		147,489		1,795		4.83		145,752		1,706		4.70
Total earning assets	197,213		2,160		4.36		196,200		2,096		4.24		195,094		2,016		4.14
Nonearning assets	26,412						26,474						26,250
Total assets	$	223,625					$	222,674					$	221,344
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	26,921	34		0.49		$	26,655	28		0.45		$	26,969	29		0.42
Money market and savings	62,261		125		0.80		62,957		109		0.68		62,105		86		0.56
Time deposits	14,682		45		1.22		13,353		34		0.98		13,966		30		0.86
Foreign office deposits - interest-bearing	246		2		2.22		132		1		1.93		673		3		1.77
Total interest-bearing deposits	104,110		206		0.78		103,097		172		0.66		103,713		148		0.57
Short-term borrowings	6,979		39		2.18		6,023		29		1.94		5,323		23		1.77
Long-term debt	23,488		186		3.19		24,211		181		2.99		23,639		166		2.81
Total interest-bearing liabilities	134,577		431		1.28		133,331		382		1.14		132,675		337		1.02
Noninterest-bearing deposits	53,732						54,174						53,963
Accounts payable and other liabilities	5,351						5,282						5,121
Shareholders' equity	29,965						29,887						29,585
Total liabilities and shareholders' equity	$	223,625					$	222,674					$	221,344
Average interest-rate spread					3.08						3.10						3.12
Net interest income/ net interest margin			$	1,729	3.49	%			$	1,714	3.47	%			$	1,679	3.45	%
Taxable-equivalent adjustment			$	24					$	27					$	22
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis utilizing the marginal income tax rates for the periods presented.
(3) Includes AFS and HTM securities.

10 BB&T Corporation

Average Balances and Rates - Year-To-Date
	Year-to-Date
	June 30, 2019						June 30, 2018
	(1)		Interest		(2)		(1)		Interest		(2)
	Average		Income/		Yields/		Average		Income/		Yields/
(Dollars in millions)	Balances		Expense		Rates		Balances		Expense		Rates
Assets
Securities at amortized cost (3):
U.S. Treasury	$	2,980	$	30	2.02	%	$	3,538	$	32	1.79	%
U.S. government-sponsored entities (GSE)	2,429		27		2.24		2,384		27		2.23
Mortgage-backed securities issued by GSE	40,078		516		2.58		40,292		489		2.43
States and political subdivisions	593		12		4.04		1,133		19		3.78
Non-agency mortgage-backed	308		20		12.89		364		24		12.41
Other	35		1		3.90		45		—		2.73
Total securities	46,423		606		2.61		47,756		591		2.48
Other earning assets	2,684		53		3.98		2,223		38		3.40
Loans and leases:
Commercial:
Commercial and industrial	61,970		1,335		4.34		59,090		1,117		3.82
CRE	20,826		521		5.05		21,472		486		4.56
Lease financing	2,071		34		3.31		1,867		26		3.03
Retail:
Residential mortgage	31,720		645		4.07		29,049		580		4.01
Direct	11,500		329		5.77		11,735		291		5.00
Indirect	17,609		694		7.95		16,859		615		7.39
Revolving credit	3,131		147		9.44		2,815		134		9.05
PCI	444		44		19.77		595		56		19.07
Total loans and leases held for investment	149,271		3,749		5.06		143,482		3,305		4.64
Loans held for sale	910		19		4.25		1,352		26		3.87
Total loans and leases	150,181		3,768		5.05		144,834		3,331		4.63
Total earning assets	199,288		4,427		4.47		194,813		3,960		4.09
Nonearning assets	28,133						26,568
Total assets	$	227,421					$	221,381
Liabilities and Shareholders' Equity
Interest-bearing deposits:
Interest checking	$	27,665	85		0.62		$	27,119	54		0.39
Money market and savings	63,360		313		0.99		61,899		153		0.50
Time deposits	16,059		123		1.54		13,907		53		0.77
Foreign office deposits - interest-bearing	400		5		2.43		803		6		1.57
Total interest-bearing deposits	107,484		526		0.99		103,728		266		0.52
Short-term borrowings	7,003		82		2.37		5,399		43		1.60
Long-term debt	23,240		385		3.31		23,658		316		2.67
Total interest-bearing liabilities	137,727		993		1.45		132,785		625		0.94
Noninterest-bearing deposits	52,484						53,681
Accounts payable and other liabilities	6,287						5,359
Shareholders' equity	30,923						29,556
Total liabilities and shareholders' equity	$	227,421					$	221,381
Average interest-rate spread					3.02						3.15
Net interest income/ net interest margin			$	3,434	3.47	%			$	3,335	3.45	%
Taxable-equivalent adjustment			$	48					$	45
Applicable ratios are annualized.
(1) Excludes basis adjustments for fair value hedges.
(2) Yields are on a taxable-equivalent basis utilizing the marginal income tax rates for the periods presented.
(3) Includes AFS and HTM securities.

BB&T Corporation 11

Credit Quality
	June 30		March 31		Dec. 31		Sept. 30		June 30
(Dollars in millions)	2019		2019		2018		2018		2018
Nonperforming Assets
Nonaccrual loans and leases:
Commercial:
Commercial and industrial	$	193	$	196	$	200	$	238	$	243
CRE	33		75		65		46		61
Lease financing	2		1		3		6		9
Retail:
Residential mortgage	104		121		119		120		119
Direct	54		53		53		55		58
Indirect	75		80		82		72		68
Total nonaccrual loans and leases held for investment (1)	461		526		522		537		558
Foreclosed real estate	36		33		35		39		43
Other foreclosed property	26		25		28		25		23
Total nonperforming assets(1)	$	523	$	584	$	585	$	601	$	624
Performing Troubled Debt Restructurings (TDRs) (2)
Commercial:
Commercial and industrial	$	84	$	63	$	65	$	56	$	44
CRE	8		9		10		12		11
Retail:
Residential mortgage	581		669		656		643		647
Direct	53		54		55		56		58
Indirect	315		306		305		295		284
Revolving credit	29		29		28		28		29
Total performing TDRs (2)(3)	$	1,070	$	1,130	$	1,119	$	1,090	$	1,073
Loans 90 Days or More Past Due and Still Accruing
Retail:
Residential mortgage	$	350	$	377	$	405	$	367	$	374
Direct	10		7		7		6		4
Indirect	7		5		6		6		4
Revolving credit	14		14		14		12		10
PCI	26		28		30		40		43
Total loans 90 days past due and still accruing	$	407	$	431	$	462	$	431	$	435
Loans 30-89 Days Past Due
Commercial:
Commercial and industrial	$	32	$	36	$	34	$	35	$	26
CRE	3		3		5		4		4
Lease financing	5		3		1		1		2
Retail:
Residential mortgage	480		478		456		510		441
Direct	58		67		61		59		52
Indirect	393		316		436		418		337
Revolving credit	28		27		28		27		21
PCI	17		18		23		21		22
Total loans 30-89 days past due	$	1,016	$	948	$	1,044	$	1,075	$	905
Excludes loans held for sale.
(1) Sales of nonperforming loans totaled $48 million, $30 million, $30 million, $20 million and $12 million for the quarter ended June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively.
(2) Excludes TDRs that are nonperforming totaling $135 million, $178 million, $176 million, $176 million and $191 million at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively. These amounts are included in total nonperforming assets.
(3) Sales of performing TDRs, which were primarily residential mortgage loans, totaled $120 million, $33 million, $15 million, $34 million and $17 million for the quarter ended June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively.

12 BB&T Corporation

Credit Quality
	As of/For the Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
(Dollars in millions)	2019			2019			2018			2018			2018
Allowance for Credit Losses
Beginning balance	$	1,659		$	1,651		$	1,648		$	1,640		$	1,614
Provision for credit losses (excluding PCI loans)	172			156			147			141			142
Provision (benefit) for PCI loans	—			(1		)	(1		)	(6		)	(7		)
Charge-offs:
Commercial:
Commercial and industrial	(22		)	(17		)	(18		)	(28		)	(23		)
CRE	(18		)	(8		)	(5		)	—			(2		)
Lease financing	—			(1		)	(1		)	(1		)	(1		)
Retail:
Residential mortgage	(5		)	(5		)	(8		)	(4		)	(5		)
Direct	(22		)	(18		)	(18		)	(17		)	(17		)
Indirect	(91		)	(109		)	(108		)	(94		)	(82		)
Revolving credit	(25		)	(26		)	(22		)	(20		)	(21		)
PCI	—			—			—			(2		)	—
Total charge-offs	(183		)	(184		)	(180		)	(166		)	(151		)
Recoveries:
Commercial:
Commercial and industrial	8			6			7			13			11
CRE	3			1			4			1			1
Lease financing	—			—			—			—			1
Retail:
Residential mortgage	—			1			1			—			1
Direct	7			6			5			6			6
Indirect	19			17			15			15			17
Revolving credit	4			6			5			4			5
Total recoveries	41			37			37			39			42
Net charge-offs	(142		)	(147		)	(143		)	(127		)	(109		)
Ending balance	$	1,689		$	1,659		$	1,651		$	1,648		$	1,640
Allowance for Credit Losses:
Allowance for loan and lease losses (excluding PCI loans)	$	1,587		$	1,553		$	1,549		$	1,528		$	1,512
Allowance for PCI loans	8			8			9			10			18
Reserve for unfunded lending commitments	94			98			93			110			110
Total	$	1,689		$	1,659		$	1,651		$	1,648		$	1,640
										As of/For the Year-to-Date
										Period Ended June 30
(Dollars in millions)										2019			2018
Allowance for Credit Losses
Beginning balance										$	1,651		$	1,609
Provision for credit losses (excluding PCI loans)										328			295
Provision (benefit) for PCI loans										(1		)	(10		)
Charge-offs:
Commercial:
Commercial and industrial										(39		)	(46		)
CRE										(26		)	(8		)
Lease financing										(1		)	(2		)
Retail:
Residential mortgage										(10		)	(9		)
Direct										(40		)	(36		)
Indirect										(200		)	(189		)
Revolving credit										(51		)	(42		)
PCI										—			—
Total charge-offs										(367		)	(332		)
Recoveries:
Commercial:
Commercial and industrial										14			19
CRE										4			3
Lease financing										—			1
Retail:
Residential mortgage										1			1
Direct										13			12
Indirect										36			32
Revolving credit										10			10
[not used]										—			—
Total recoveries										78			78
Net charge-offs										(289		)	(254		)
Other										—			—
Ending balance										$	1,689		$	1,640

BB&T Corporation 13

Credit Quality
	As of/For the Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2019		2019		2018		2018		2018
Asset Quality Ratios
Loans 30-89 days past due and still accruing as a percentage of loans and leases	0.67	%	0.64	%	0.70	%	0.73	%	0.62	%
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.27		0.29		0.31		0.29		0.30
Nonperforming loans and leases as a percentage of loans and leases	0.30		0.35		0.35		0.37		0.38
Nonperforming assets as a percentage of:
Total assets	0.23		0.26		0.26		0.27		0.28
Loans and leases plus foreclosed property	0.34		0.39		0.39		0.41		0.43
Net charge-offs as a percentage of average loans and leases	0.38		0.40		0.38		0.35		0.30
Allowance for loan and lease losses as a percentage of loans and leases	1.05		1.05		1.05		1.05		1.05
Ratio of allowance for loan and lease losses to:
Net charge-offs	2.80X		2.62X		2.76X		3.05X		3.49X
Nonperforming loans and leases	3.46X		2.97X		2.99X		2.86X		2.74X
Asset Quality Ratios (Excluding Government Guaranteed and PCI)
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.04	%	0.04	%	0.04	%	0.04	%	0.04	%
							As of/For the Year-to-Date
							Period Ended June 30
							2019		2018
Asset Quality Ratios
Net charge-offs as a percentage of average loans and leases							0.39	%	0.36	%
Ratio of allowance for loan and lease losses to net charge-offs							2.74X		2.99X
Applicable ratios are annualized. Loans and leases exclude loans held for sale.

	June 30, 2019
					Past Due 30-89					Past Due 90+
(Dollars in millions)	Current Status				Days					Days					Total
Troubled Debt Restructurings
Performing TDRs: (1)
Commercial:
Commercial and industrial	$	84	100.0	%	$	—		—	%	$	—		—	%	$	84
CRE	8		100.0		—			—		—			—		8
Retail:
Residential mortgage	315		54.2		107			18.4		159			27.4		581
Direct	51		96.2		2			3.8		—			—		53
Indirect	260		82.5		55			17.5		—			—		315
Revolving credit	25		86.3		3			10.3		1			3.4		29
Total performing TDRs (1)	743		69.4		167			15.6		160			15.0		1,070
Nonperforming TDRs (2)	58		43.0		15			11.1		62			45.9		135
Total TDRs (1)(2)	$	801	66.5	%	$	182		15.1	%	$	222		18.4	%	$	1,205
					Quarter Ended
					June 30			March 31		Dec. 31			Sept. 30		June 30
					2019			2019		2018			2018		2018
Net Charge-offs as a Percentage of Average Loans and Leases:
Commercial:
Commercial and industrial					0.09		%	0.07	%	0.06		%	0.11	%	0.08		%
CRE					0.30			0.13		0.02			(0.02	)	0.01
Lease financing					0.03			0.10		0.17			0.16		0.12
Retail:
Residential mortgage					0.06			0.05		0.10			0.05		0.05
Direct					0.53			0.42		0.43			0.38		0.40
Indirect					1.63			2.15		2.14			1.79		1.56
Revolving credit					2.56			2.64		2.25			2.11		2.21
PCI					—			—		—			1.53		—
Total loans and leases					0.38			0.40		0.38			0.35		0.30
Applicable ratios are annualized.
(1) Past due performing TDRs are included in past due disclosures.
(2) Nonperforming TDRs are included in nonaccrual loan disclosures.

14 BB&T Corporation

Capital Information - Five Quarter Trend
	As of/For the Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
(Dollars in millions, except per share data, shares in thousands)	2019			2019			2018			2018			2018
Selected Capital Information	(preliminary)
Risk-based capital:
Common equity tier 1	$	19,435		$	18,848		$	18,405		$	18,325		$	18,364
Tier 1	22,487			21,899			21,456			21,376			21,415
Total	26,698			26,078			24,963			24,979			25,011
Risk-weighted assets	187,942			183,060			181,260			179,195			179,892
Average quarterly tangible assets	220,511			217,247			215,872			214,498			213,523
Risk-based capital ratios:
Common equity tier 1	10.3		%	10.3		%	10.2		%	10.2		%	10.2		%
Tier 1	12.0			12.0			11.8			11.9			11.9
Total	14.2			14.2			13.8			13.9			13.9
Leverage capital ratio	10.2			10.1			9.9			10.0			10.0
Equity as a percentage of total assets	13.8			13.6			13.4			13.5			13.4
Common equity per common share	$	37.40		$	36.26		$	35.46		$	34.90		$	34.51
Calculations of Tangible Common Equity and Related Measures: (1)
Total shareholders' equity	$	31,764		$	30,883		$	30,178		$	30,007		$	29,832
Less:
Preferred stock	3,053			3,053			3,053			3,053			3,053
Noncontrolling interests	61			60			56			59			52
Intangible assets, net of deferred taxes	10,317			10,326			10,360			10,407			10,052
Tangible common equity	$	18,333		$	17,444		$	16,709		$	16,488		$	16,675
Outstanding shares at end of period (in thousands)	766,010			765,920			763,326			770,620			774,447
Tangible Common Equity Per Common Share	$	23.93		$	22.78		$	21.89		$	21.40		$	21.53

(1) Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. BB&T's management uses these measures to assess the quality of capital and returns relative to balance sheet risk and believes investors may find them useful in their analysis of the Corporation. These measures are not necessarily comparable to similar measures that may be presented by other companies.

BB&T Corporation 15

Selected Items, Selected Mortgage Banking Information & Additional Information
										Favorable (Unfavorable)
													After-Tax at
(Dollars in millions)										Pre-Tax			Marginal Rate
Selected Items
Second Quarter 2019
Incremental operating expenses related to the merger (1)										9			7
First Quarter 2019
Incremental operating expenses related to the merger (1)										2			1
Fourth Quarter 2018
None										N/A			N/A
Third Quarter 2018
None										N/A			N/A
Second Quarter 2018
None										N/A			N/A
First Quarter 2018
None										N/A			N/A
(1) Includes costs not classified as merger-related and restructuring charges that are excluded from adjusted disclosures.
	As of/For the Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
(Dollars in millions, except per share data)	2019			2019			2018			2018			2018
Mortgage Banking Income
Residential mortgage production revenue	$	37		$	20		$	22		$	29		$	42
Residential mortgage servicing revenue	62			61			65			63			63
Realization of expected residential MSR cash flows	(38		)	(33		)	(37		)	(35		)	(38		)
Commercial mortgage production revenue	20			11			28			20			23
Commercial mortgage servicing revenue	9			10			9			10			10
Realization of expected commercial MSR cash flows	(7		)	(7		)	(7		)	(7		)	(8		)
Mortgage banking income before MSR valuation	83			62			80			80			92
Income statement impact of mortgage servicing rights valuation:
MSRs fair value increase (decrease)	(52		)	(54		)	(55		)	35			25
MSRs hedge gains (losses)	82			55			61			(36		)	(23		)
Net MSRs valuation	30			1			6			(1		)	2
Total mortgage banking income	$	113		$	63		$	86		$	79		$	94
Other Mortgage Banking Information
Residential mortgage loan originations	$	4,735		$	2,383		$	2,735		$	4,265		$	4,411
Residential mortgage servicing portfolio (1):
Loans serviced for others	85,060			86,119			87,270			88,323			88,492
Bank-owned loans serviced	32,852			31,861			31,335			31,137			30,261
Total servicing portfolio	117,912			117,980			118,605			119,460			118,753
Weighted-average coupon rate on mortgage loans serviced for others	4.07		%	4.06		%	4.04		%	4.03		%	4.01		%
Weighted-average servicing fee on mortgage loans serviced for others	0.279			0.278			0.277			0.277			0.277
Additional Information
Derivatives notional amount	$	64,967		$	72,998		$	67,738		$	68,400		$	71,427
Fair value of derivatives, net	489			158			(1		)	(253		)	(203		)
Common stock prices:
High	51.76			52.45			52.11			53.08			56.03
Low	46.53			42.79			40.68			48.41			50.13
End of period	49.13			46.53			43.32			48.54			50.44
Banking offices	1,787			1,871			1,879			1,958			1,967
ATMs	2,376			2,503			2,573			2,764			2,768
FTEs	34,771			35,334			35,852			36,233			35,782
(1) Amounts reported are unpaid principal balance.

16 BB&T Corporation

Non-GAAP Reconciliations
	Quarter Ended															Year-to-Date
	June 30			March 31			Dec. 31			Sept. 30			June 30			June 30			June 30
(Dollars in millions)	2019			2019			2018			2018			2018			2019			2018
Efficiency Ratio (1)
Efficiency Ratio Numerator - Noninterest Expense - GAAP	$	1,751		$	1,768		$	1,784		$	1,742		$	1,720		$	3,519		$	3,406
Amortization of intangibles	(32		)	(32		)	(34		)	(33		)	(31		)	(64		)	(64		)
Merger-related and restructuring charges, net	(23		)	(80		)	(76		)	(18		)	(24		)	(103		)	(52		)
Incremental operating expenses related to the merger	(9		)	(2		)	—			—			—			(11		)	—
Efficiency Ratio Numerator - Adjusted	$	1,687		$	1,654		$	1,674		$	1,691		$	1,665		$	3,341		$	3,290
Efficiency Ratio Denominator - Revenue (2) - GAAP	$	3,042		$	2,898		$	2,940		$	2,926		$	2,879		$	5,940		$	5,692
Taxable equivalent adjustment	24			24			24			27			22			48			45
Securities (gains) losses, net	—			—			(2		)	—			(1		)	—			(1		)
Efficiency Ratio Denominator - Adjusted	$	3,066		$	2,922		$	2,962		$	2,953		$	2,900		$	5,988		$	5,736
Efficiency Ratio - GAAP	57.6		%	61.0		%	60.7		%	59.5		%	59.7		%	59.3		%	59.8		%
Efficiency Ratio - Adjusted	55.1			56.6			56.5			57.3			57.4			55.8			57.4

(1) The adjusted efficiency ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. BB&T's management uses this measure in their analysis of the Corporation's performance. BB&T's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by other companies.

(2) Revenue is defined as net interest income plus noninterest income.

	Quarter Ended															Year-to-Date
	June 30			March 31			Dec. 31			Sept. 30			June 30			June 30			June 30
(Dollars in millions)	2019			2019			2018			2018			2018			2019			2018
Return on Average Tangible Common Shareholders' Equity (1)
Net income available to common shareholders	$	842		$	749		$	754		$	789		$	775		$	1,591		$	1,520
Plus: Amortization of intangibles, net of tax	24			25			25			26			24			49			48
Tangible net income available to common shareholders	$	866		$	774		$	779		$	815		$	799		$	1,640		$	1,568
Average common shareholders' equity	$	28,188		$	27,432		$	26,860		$	26,782		$	26,483		$	27,812		$	26,455
Less: Average intangible assets, net of deferred taxes	10,326			10,343			10,391			10,409			10,068			10,334			10,084
Average tangible common shareholders' equity	$	17,862		$	17,089		$	16,469		$	16,373		$	16,415		$	17,478		$	16,371
Return on average common shareholders' equity	11.98		%	11.08		%	11.14		%	11.69		%	11.74		%	11.54		%	11.59		%
Return on average tangible common shareholders' equity	19.45			18.36			18.77			19.74			19.52			18.92			19.32

(1) Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. BB&T's management uses these measures to assess the quality of capital and returns relative to balance sheet risk and believes investors may find them useful in their analysis of the Corporation. These measures are not necessarily comparable to similar measures that may be presented by other companies.

	Quarter Ended												Year-to-Date
	June 30		March 31		Dec. 31			Sept. 30		June 30			June 30		June 30
(Dollars in millions, except per share data)	2019		2019		2018			2018		2018			2019		2018
Diluted EPS (1)
Net income available to common shareholders - GAAP	$	842	$	749	$	754		$	789	$	775		$	1,591	$	1,520
Merger-related and restructuring charges	19		64		59			13		17			83		39
Incremental operating expenses related to the merger	7		1		—			—		—			8		—
Securities gains (losses), net	—		—		(1		)	—		(1		)	—		(1		)
Net income available to common shareholders - adjusted	$	868	$	814	$	812		$	802	$	791		$	1,682	$	1,558
Weighted average shares outstanding - diluted	774,603		774,071		775,402			781,867		785,750			774,329		788,362
Diluted EPS - GAAP	$	1.09	$	0.97	$	0.97		$	1.01	$	0.99		$	2.06	$	1.93
Diluted EPS - adjusted	1.12		1.05		1.05			1.03		1.01			2.17		1.98

(1) The adjusted diluted earnings per share is non-GAAP in that it excludes merger-related and restructuring charges and other selected items, net of tax. BB&T's management uses this measure in their analysis of the Corporation's performance. BB&T's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges.

BB&T Corporation 17