CONFIDENTIAL DRAFT –

1/15/2014        

Exhibit 99.3

Fourth Quarter 2013

Earnings Conference

Call

January 16, 2014

Kelly S. King

Chairman and Chief Executive Officer

Daryl N. Bible

Chief Financial Officer

Non-GAAP Information

Forward-Looking Information

2

This presentation contains forward-looking statements with respect to the financial condition, results of operations and businesses of BB&T. Statements that are not historical or current

facts or statements about beliefs and expectations are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,”

“projects,” “may,” “will,” “should,” and other similar expressions are intended to identify these forward-looking statements. Forward-looking statements involve certain risks and

uncertainties and are based on the beliefs and assumptions of the management of BB&T, and the information available to management at the time that this presentation was prepared.

Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following: (1) 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 or other services; (2) 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 rating agencies and the adverse effects of the ongoing sovereign debt crisis in Europe; (3) changes in the interest rate environment may reduce net interest margins and / or the

volumes and values of loans made or held as well as the value of other financial assets held; (4) competitive pressures among depository and other financial institutions may increase

significantly; (5) legislative, regulatory, or accounting changes, including changes resulting from the adoption and implementation of the Dodd-Frank Wall Street Reform and Consumer

Protection Act of 2010, and changes in accounting standards, may adversely affect the businesses in which BB&T is engaged; (6) local, state or federal taxing authorities may take tax

positions that are adverse to BB&T; (7) reduction in BB&T’s credit ratings; (8) adverse changes may occur in the securities markets; (9) 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; (10) costs or

difficulties related to the integration of the businesses of BB&T and its merger partners may be greater than expected; (11) unpredictable natural or other disasters could have an adverse

effect on BB&T in that such events could materially disrupt BB&T’s operations or the ability or willingness of BB&T’s customers to access the financial services BB&T offers; (12)

expected cost savings associated with completed mergers and acquisitions may not be fully realized or realized within the expected time frames; (13) deposit attrition, customer loss

and/or revenue loss following completed mergers and acquisitions, may be greater than expected; and (14) BB&T faces system failures and cyber-security risks that could adversely

affect BB&T’s business and financial performance.  These and other risk factors are more fully described in BB&T’s Annual Report on Form 10-K for the year ended December 31,

2012 under the section entitled Item 1A. “Risk Factors” and from time to time, in other filings with the Securities and Exchange Commission. You are cautioned not to place undue

reliance on these forward-looking statements, which speak only as of the date of this presentation. Actual results may differ materially from those expressed in or implied by any

forward-looking statements. 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.

This presentation 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&T’s management uses these “non-GAAP” measures in their analysis of the corporation’s 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&T’s 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 company’s 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. In this presentation, these measures are generally marked as “non-GAAP” and are

accompanied with disclosure regarding why BB&T’s management believes such measures are useful to investors.  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 assets is a non-GAAP measure.  The

Basel III common equity Tier I capital ratio reflects management’s interpretation of the regulatory requirements.  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.

Asset quality ratios have been adjusted to remove the impact of acquired loans and foreclosed property covered by FDIC loss sharing agreements from the numerator and

denominator of these ratios.  Management believes that their inclusion may result in distortion of these ratios, such that they may 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&T’s management uses these measures in their analysis of the

Corporation’s performance.  BB&T’s 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 estimated impact of interest income and funding costs associated with loans

and securities acquired in the Colonial acquisition.  BB&T’s management believes that the exclusion of the generally higher yielding assets acquired in the Colonial

transaction from the calculation of net interest margin provides investors with useful information related to the relative performance of the remainder of BB&T’s earning

assets.

A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included on the Investor Relations section of BB&T’s website and as an appendix to this

presentation.

2013

Fourth

Quarter

Performance

Highlights

1

Net

income

totaled

$537

million,

up

6.1%

compared

to

4Q12

Diluted EPS was $0.75, an increase of 5.6% vs. 4Q12

Sales Finance and Revolving Credit grew 11.9% and 8.4%, respectively, vs. 3Q13

Other CRE growth was 5.2% vs. 3Q13

Excluding the sale of a subsidiary and related loan transfer, Other Lending Subsidiaries grew 3.5%

Residential mortgage

loans

increased

9.8%

compared

to

3Q13;

6.0%

excluding

loans

transferred

Average deposits decreased $2.0 billion, or 6.3% vs. 3Q13

Noninterest-bearing deposits increased $1.1 billion, or 12.8% vs. 3Q13

Deposit mix improved and cost declined 3 basis points to 0.28%

Net charge-offs remained unchanged from 3Q13 at 0.49% of average loans and leases

NPLs decreased $95 million, or 9.2% vs. 3Q13

NPAs decreased $109 million, or 9.4% vs. 3Q13

ALLL coverage ratio improved to 1.73x NPLs from 1.66x at 3Q13

Total

revenues

were

$2.4

billion,

up

3.9%

compared

to

3Q13

Results driven by lower deposit costs, seasonally higher insurance revenues, record investment

Fee income ratio increased to 43.5%

4

Noninterest expense decreased 4.0%

vs. 3Q13

Professional services decreased $14 million due to systems and project related enhancements

Efficiency ratio improved and BB&T produced positive operating leverage in 4Q13

Management expects continued improvement in efficiency ratio throughout 2014

1

Linked quarter growth rates are annualized, except credit metrics

2

Available to common shareholders. 

3

Fully taxable equivalent

.

4

Excludes securities gains (losses), the impact of FDIC loss share accounting and other selected items.  See non-GAAP reconciliations included in the attached Appendix

5

Excludes covered assets

3

5

vs. 3Q13

banking and brokerage revenues and record trust and investment advisory income

2

3

Earnings

Highlights

Revenues

Loans

Deposits

Credit 

Quality

Expenses

Pretax

After Tax

EPS

Impact

Gain on sale of subsidiary

$ 31

$ 19

$ 0.03

Merger-related and restructuring charges, net

$ 10

$  6

$ (0.01)

4

Unusual Items Affecting Earnings

$ in millions, except per share impact

Loan Demand Improving

1

C&I flat excluding mortgage warehouse lending

CRE

–

Other

experienced

solid

growth

at

5.2%

Experienced strong retail annualized loan growth

11.9% growth in Sales Finance

8.4% growth in Revolving Credit

9.8% increase in Residential Mortgage; 6.0%

excluding loans transferred

Excluding the sale of a subsidiary and related loan

transfer, loans in Other Lending Subsidiaries increased

3.5%, led by:

Sheffield, up 11.8%

Equipment Finance, up 17.5%

Grandbridge, up 7.4%, and

Regional Acceptance, up 5.4%

1

Excludes loans held for sale.

2

Other

Lending

Subsidiaries

consist

of

AFCO/CAFO/Prime

Rate,

BB&T

Equipment

Finance,

Grandbridge

Real

Estate

Capital,

Sheffield

Financial

and

Regional

Acceptance.

C&I

$  38,101

$(345)

(3.6%)

CRE-Other

11,494

150

5.2

CRE-ADC

970

(52)

(20.2)

Direct Retail

15,998

(114)

(2.8)

Sales Finance

9,262

270

11.9

Revolving Credit

2,357

49

8.4

Residential Mortgage

23,979

576

9.8

Other

Lending

Subsidiaries

²

10,448

(570)

(20.5)

Subtotal

$ 112,609

$   (36)

(0.1)

Covered loans

2,186

(316)

(50.1)

Total

$ 114,795

$ (352)

(1.2)

4Q13 v. 3Q13

Annualized %

Increase 

(Decrease)

Average Loans

($ in millions)

4Q13 v. 3Q13

$

Increase

(Decrease)

4Q13

Average

Balance

5

Average total loan growth for 1Q14 is expected to be

approximately

2%

-

3%

Driven by C&I, CRE, Mortgage and Sales Finance

Growth in Other Lending Subsidiaries expected to

remain seasonally slower due to premium finance in

1Q14 before accelerating in 2Q14

Improved Deposit Mix and Cost

Strong organic growth in noninterest-bearing deposits,

up 12.8% annualized vs. 3Q13

Successfully reduced interest-bearing deposit cost to

28 bps during 4Q13

Management currently expects continued growth in all

client deposit balances during 2014

Noninterest-bearing deposits

$ 35,347

$ 1,103

12.8%

Interest checking

18,969

143

3.0

Money market & savings

49,298

622

5.1

Subtotal

$ 103,614

$1,868

7.3

Certificates and other time

deposits

21,580

(3,982)

(61.8)

Foreign office deposits –

Interest-bearing

712

72

44.6

Total deposits

$ 125,906

$(2,042)

(6.3)

Average Deposits

($ in millions)

4Q13 v. 3Q13

Annualized %

Increase 

(Decrease)

4Q13 v. 3Q13

$

Increase

(Decrease)

4Q13

Average

Balance

6

Credit Quality Continues to Improve

1

4Q13 net charge-offs were $141 million,

relatively flat vs. 3Q13

Lowest charge-off rate in 6 years

Management expects net charge-offs to

remain modestly below our normalized

range of 50-70 basis points (revised

lower) for the foreseeable future

9.4% reduction to $109 million in NPAs

and a 9.2% reduction to $95 million in   

NPLs vs. 3Q13

Commercial NPLs down 13.3%

Lowest NPAs as a % of total

assets in 6 years

Management expects NPAs to decline

modestly in 1Q14

1

Excludes covered assets.

7

NCOs Down

52.2% vs.

4Q12

NPAs Down

31.4% vs.

4Q12

Commercial and total NPA inflows

decreased significantly in 4Q13,

driving loan loss improvement and a

lower provision

Delinquencies reflected modest

seasonality in the 4

th

quarter:

30-89 days at 0.82% of total loans

and leases

90 days and greater at 0.11%

Total commercial watchlist down

8.9%

Commercial NPA Inflows

Decline vs. 3Q13

1

1

Excludes covered assets and government guaranteed loans

The reserve release was $70

million for 4Q13 vs. $52 million

last quarter (including reserve for

unfunded commitments)

8

$274

$271

$194

$150

$101

$80

$130

$180

$230

$280

$330

4Q12

1Q13

2Q13

3Q13

4Q13

Commercial NPA Inflows

($ in millions)

1.60x

1.65x

2.07x

3.03x

2.88x

1.37x

1.43x

1.55x

1.66x

1.73x

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4Q12

1Q13

2Q13

3Q13

4Q13

ALLL Coverage Ratios

ALLL to Net Charge-offs

ALLL to NPLs HFI

Core Margin Stabilizing

4Q13 NIM declined 12 bps vs. 3Q13.  The

decline was a result of:

Larger than forecast decline in covered

asset yields

Impact of lower earning asset yields on

loans including impact of subsidiary sale

Partially offset by lower funding costs

Margin expected to decline approximately 5 bps

in 1Q14 driven by:

Impact of larger investment portfolio

Lower earning asset yields

Offset by:

Improved funding cost and mix change

Core margin expected to be relatively stable

following impact of securities build

Became slightly less asset sensitive in 4Q13

due to an increase in investment balances

related to Basel III liquidity

Remain well positioned for rising rates

1

Excludes covered assets.  See non-GAAP reconciliations included in the attached Appendix.

9

3.84%

3.76%

3.70%

3.68%

3.56%

3.42%

3.43%

3.40%

3.39%

3.34%

2.75%

3.25%

3.75%

4.25%

4Q12

1Q13

2Q13

3Q13

4Q13

Net Interest Margin

Reported NIM

Core NIM

0.24%

0.77%

1.73%

2.90%

0.39%

0.51%

1.35%

2.27%

-1.00%

0.00%

1.00%

2.00%

3.00%

4.00%

Down 25

Up 50

Up 100

Up 200

Rate Sensitivities

Sensitivities as of 09/30/13

Sensitivities as of 12/31/13

Fee Income Improves

1

Excludes securities gains (losses), the impact of FDIC loss share accounting and other selected items.  See non-GAAP reconciliations included in the attached Appendix.

2

Linked quarter percentages are annualized.

4Q13

4Q13 v.

3Q13

Increase

(Decrease)

4Q13 v.

4Q12

Increase

(Decrease)

Insurance income

$

371

17.9%

2.5%

Mortgage banking income

100

(57.6)

(56.7)

Service charges on deposits

151

(2.6)

1.3

Investment banking and brokerage                      

fees and commissions

101

53.5

3.1

Bankcard fees and merchant

discounts

65

(11.8)

6.6

Checkcard fees

50

(7.8)

2.0

Trust and investment advisory

revenues

52

7.8

10.6

Income from bank-owned life

insurance

32

73.5

10.3

FDIC loss share income, net

(75)

5.4

(22.7)

Securities gains (losses), net

5

NM

NM

Other income          

133

NM

46.2

Total noninterest income

$

985

35.1

(3.4)

Insurance income increased $16 million compared to

3Q13 due to seasonal factors and continued

improvement in market conditions related to insurance

premiums

Mortgage income declined $17 million vs. 3Q13,

reflecting lower gains on sale and volumes, tighter

pricing and the retention of certain mortgage loans

Investment banking and brokerage fees and

commissions increased $12 million to a record $101

million 

Other income includes a $31 million gain on sale of a 

consumer lending subsidiary and an increase of $18

million related to assets for certain post-employment

benefits, which is offset in personnel expense

Noninterest Income

($ in millions)

10

44.1%

42.9%

44.6%

41.6%

43.5%

30.0%

35.0%

40.0%

45.0%

50.0%

4Q12

1Q13

2Q13

3Q13

4Q13

Fee

Income

Ratio

1

2

Expenses Expected to Trend Lower

4Q13

4Q13 v.

3Q13

Increase

(Decrease)

4Q13 v.

4Q12

Increase

(Decrease)

Personnel expense

$

827

10.8%

0.5%

Occupancy and equipment

expense

174

(6.7)

1.2

Loan-related expense

64

(34.0)

(12.3)

Foreclosed property expense

11

(85.0)

(77.1)

Regulatory charges

33

(69.4)

(5.7)

Professional services

46

(92.6)

-

Software expense

43

40.7

13.2

Amortization of intangibles

26

-

(7.1)

Merger-related and restructuring

charges, net

10

NM

(9.1)

Other expense

222

(23.5)

3.7

Total noninterest expense

$

1,456

(4.0)

(2.2)

1

Excludes

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. 

See non-GAAP reconciliations included in the attached Appendix.

2

Linked quarter percentages are annualized.

Noninterest expense peaked in 2013 and is expected to 

trend lower throughout 2014.  Management expects

positive operating leverage for 2014.

Personnel expense increased $22 million  vs. 3Q13 due to

certain post-employment benefits and higher incentives

and commissions

Professional services decreased $14 million driven by a

decrease in legal expenses and a decline in costs

associated with project related expenses

Other expenses decreased primarily due to lower

insurance-related expenses and the impact of lower of

cost or market adjustments on owned real estate recorded

in 3Q13

Achieved positive operating leverage in the quarter

4Q13 effective rate tax rate was 29.2%; expecting similar rate in

1Q14

11

55.3%

56.4%

57.6%

60.1%

59.9%

50.0%

55.0%

60.0%

65.0%

4Q12

1Q13

2Q13

3Q13

4Q13

Noninterest Expense

($ in millions)

Efficiency

Ratio

1

2

Capital Strength

1

1

Regulatory capital information is preliminary. 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. Tier 1 common equity ratio is a non-GAAP measure.  BB&T uses the Tier 1 common equity definition used in the SCAP 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 measures

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 management’s interpretation of the regulatory requirements.

Common equity Tier 1 ratio

under Basel III

was approximately 9.6% at December 31,

2013

vs. 9.0% at September 30, 2013

12

9.0%

9.1%

9.3%

9.4%

9.9%

8.0%

9.0%

10.0%

4Q12

1Q13

2Q13

3Q13

4Q13

10.5%

10.6%

11.1%

11.3%

11.8%

9.0%

9.5%

10.0%

10.5%

11.0%

11.5%

12.0%

4Q12

1Q13

2Q13

3Q13

4Q13

Basel

Tier 1 Ratio

2

I

Basel

Tier 1 Common Ratio

I

Community Banking Segment

Comments

4

Highlighted Metrics

4Q13

4Q12

($ in millions)

Inc/(Dec)

3Q13

Inc/(Dec)

4Q12

4Q13

($ in billions)

Net Interest Income

Noninterest Income¹

Loan Loss Provision

Noninterest Expense²

Income Tax Expense

Segment Net Income

$ (7)

(19)   

(36)

-

4

$ 6    

$ (55)  

(17)

(121)

(52)

38

$ 63

Noninterest-bearing / Total Deposits

C&I Portfolio / Total Commercial Loans

CRE-other Loan Growth

Linked quarter commercial loan production up

61%

CRE-other loans increased $578 million, or

5.3%, compared with 4Q12 and 6.4%

annualized compared with 3Q13

Average dealer floor plan loans increased by

$394 million, or 98.9%, compared with 4Q12

and 104.3% annualized compared with 3Q13

Average deposit balances (excluding time

deposits) increased $4.5 billion, or 5.5%,

compared with 4Q12 and 9.8% compared with

3Q13

Announced agreement to acquire 21 branches

from Citi in Texas to accelerate franchise build

out

Common quarter net income drivers include:

Revenue:

Lower mortgage referral income

Higher bankcard and merchant fees

Higher service charges on deposits

Expense:

Lower loan charge-offs and provision

expense

Lower foreclosed property costs

Lower occupancy expense

12.4%

29.5%

67.2%

5.3%

23.3%

26.7%

68.0%

0.7%

1

Noninterest Income includes intersegment net referral fees

2

Noninterest Expense includes amortization of intangibles and allocated corporate expense

3

Current quarter over common quarter of prior year

4

Linked quarter growth rates annualized

$ 792 

333

9

680

161

$ 275 

13

Noninterest-bearing

Deposit

Growth

³

($ in millions)

Net Interest Income

Noninterest Income

1

Loan Loss Provision

Noninterest Expense

2

Income Tax Expense

Segment Net Income

Retail Originations

Correspondent Purchases

Total Production

Loan Sales

Loans Serviced for others (EOP)

30+ Days Delinquent (HFI only)

% Non-Accrual (HFI only)

Net Charge-Offs (HFI only)

Residential Mortgage Banking Segment

Retains and services mortgage loans originated by the Residential Mortgage Lending Division and through its referral relationship

with the Community Bank and referral partners as well as those purchased from various correspondent originators

Comments

Highlighted Metrics

Inc/(Dec)

3Q13

Inc/(Dec)

4Q12

4Q13

1

Noninterest Income includes intersegment net referral fees

2

Noninterest Expense includes amortization of intangibles and allocated corporate expense

($ in billions)

4Q13

4Q12

$ 1.8

3.5

$ 5.3

$ 5.8

$ 87.4

3.14%

0.98%

0.27%

Residential mortgage loan production of $5.3

billion, down 37.6% vs. 4Q12

Retail mortgage originated $1.8 billion in loans,

down 46.2% vs. 4Q12

Correspondent loan production of $3.5 billion

decreased 31.8% vs. 4Q12

The 4Q13 production mix was 32%

refinance /

68%

purchase vs. 63% / 37%

in 4Q12

Gain on sale margins declined to 0.55% in 4Q13

from 2.47% in Q412

Servicing fee income grew 4.4% vs. 4Q12

due

to slower prepay speeds and 18.5% growth in

loans serviced for others

Improving credit trends in the residential

mortgage portfolio led to lower provision

expense for the common quarter

4Q13 noninterest expense includes costs

associated with transfer of branch mortgage

production business to Residential Mortgage

Banking to be compliant with QM

$ 97  

75

16

113

16

$ 27  

$ (10) 

(22)    

44

6      

(32)         

$ (50)    

$ (4)

(132)

(40)

(1)

(37)

$ (58)

$ 3.5

5.1

$ 8.6

$ 7.0

$ 73.8

3.54%

1.11%

0.46%

14

Highlighted Metrics

Net Interest Income

Noninterest Income

1

Loan Loss Provision

Noninterest Expense

2

Income Tax Expense

Segment Net Income

Primarily originates indirect loans to consumers on a prime and nonprime basis for the purchase of automobiles and other vehicles

through approved dealers both in BB&T’s market and nationally (through Regional Acceptance Corporation)

Dealer Financial Services Segment

Comments

3

4Q13

4Q12

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

($ in billions)

Loan Originations

Loan Yield

Operating Margin

Net Charge-offs

($ in millions)

Inc/(Dec)

3Q13

Inc/(Dec)

4Q12

4Q13

$1.2

7.34%

46.5%

1.77%

$ 170 

-

58

33

30

$ 49 

$ 1.1

8.37%

38.7%

1.59%

$ -

(1)      

11      

(2)      

(4)      

$ (6)

$ 4   

(2)      

(9)      

(3)         

5      

$ 9

Dealer Financial Services continued to

generate strong loan production. Loan

originations were up 14.5% 4Q13 vs. 4Q12,

driven by increased auto sales and BB&T

marketing efforts to dealers

Additional market expansion for Regional

Acceptance planned in Connecticut, Oregon,

Tennessee, and California during 2014

Credit quality metrics remain strong for both

Dealer Finance and Regional Acceptance

Focused on partnering with Community

Banking to increase dealer wholesale lending,

as well as indirect auto lending, through new

and expanded relationships with franchise auto

dealers throughout the BB&T footprint

15

Highlighted Metrics

Specialized Lending Segment

Net Interest Income

Noninterest

Income¹

Loan Loss Provision

Noninterest

Expense²

Income Tax Expense

Segment Net Income

Loan Originations

Loan Yield

Operating Margin

Net Charge-offs

Comments

1

Noninterest Income includes intersegment net referral fees

2

Noninterest Expense includes amortization of intangibles and allocated corporate expense

3

Linked quarter rates annualized except for production

($ in billions)

($ in millions)

Inc/(Dec)

3Q13

Inc/(Dec)

4Q12

4Q13

4Q13

4Q12

$ 115 

61

6

73

26

$ 71 

$ (32)    

1    

5  

(17)          

(7)    

$ (12)

$ (34) 

(4)     

(18)   

(18)     

-

$ (2)

$ 5.4

5.66%

46.3%

.70%

$ 4.3

4.78%

55.1%

.18%

16

Operating

margin

improved

to

55.1%

in

the

4

quarter

Grandbridge’s average loans held for investment

increased 7.4% vs. 3Q13 and 37.4% vs. 4Q12.

The lending pipeline shows favorable growth

prospects for 2014.

Equipment Finance’s strong origination

performance continued into 4Q13 with new

business volume up 33.2% over 3Q13,

combined with continued strong credit quality

Sheffield Financial’s 4Q13 loan growth

continued to be strong with 11.8%

annualized growth over 3Q13

3

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

th

1

Noninterest Income includes intersegment net referral fees

2

Noninterest Expense includes amortization of intangibles and allocated corporate expense

Insurance Segment

Comments

Net Interest Income

Noninterest Income

1

Loan Loss Provision

Noninterest Expense

2

Income Tax Expense

Segment Net Income

Same Store Sales Growth

Noninterest Income Growth

Number of Stores

EBITDA  Margin

Provides property and casualty, life, and health insurance to business and individual clients.  It also provides workers

compensation and professional liability, as well as surety coverage and title insurance

Highlighted Metrics

($ in millions)

Inc/(Dec)

3Q13

Inc/(Dec)

4Q12

4Q13

4Q13

4Q12

3.6%

4.6%

196

24.5%

$ 2 

385

-

312

26

$ 49 

7.1%

43.9%

206

21.6%

$ -

28     

-

(12)      

13            

$ 27   

$ -

17  

-

1       

5   

$ 11

BB&T Insurance generated common quarter

insurance revenue growth of 1.5% in Retail,

6.1% in Wholesale, and 3.8% for Total

Insurance

Higher 4Q13 noninterest income and EBITDA

margin vs. 4Q12 was driven by increased new

business sales coupled with strong renewal

business and improving market pricing

Lower noninterest expense in 4Q13 versus

3Q13 primarily attributable to a reduction in

certain actuarially-determined loss reserves

Strong strategic emphasis is being placed on

Employee Benefits business

Continued focus on implementing an expanded

life insurance sales strategy involving current

BB&T Wealth, Broker/Dealer and P&C client

bases

6

th

largest insurance brokerage in the U.S. and

the world

17

Highlighted Metrics

Financial Services Segment

Comments

Average Loan Balances

Average Deposits

Total Assets Invested

Operating Margin

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

1

Noninterest Income includes intersegment net referral fees

2

Noninterest Expense includes amortization of intangibles and allocated corporate expense

Net Interest Income

Noninterest Income

1

Loan Loss Provision

Noninterest Expense

2

Income Tax Expense

Segment Net Income

($ in millions)

Inc/(Dec)

3Q13

Inc/(Dec)

4Q12

4Q13

4Q13

4Q12

Despite narrowing margins negatively impacting

net interest income, volume was driven by:

Corporate Banking, which generated 17.4% loan

growth vs. 4Q12

BB&T Wealth, which generated 22.6% loan

growth and 13.4% transaction deposit growth vs.

4Q12

Total assets invested increased to $111.2

billion, representing 15.6% growth vs. 4Q12

Increase in noninterest income vs. 3Q13 was

driven by higher investment banking &

brokerage and private equity partnership

income and trading account gains

Decrease in average deposits vs. 4Q12 was

driven by a strategic $7.7 billion reduction in

non-client CDs

New BB&T Scott & Stringfellow office opened in

Miami, FL, their 4    new office in FL within the

past 12 months

BB&T Retirement & Institutional Services

received 34 Best in Class awards in the 2013

national defined contribution survey conducted

by PlanSponsor

magazine

$ 9.4

26.3

111.2

43.2%

$ 108

214  

(2)    

185

52   

$ 87 

$ 7.9

33.4

96.2

44.9%

$ (3) 

27           

-

9     

5           

$ 10

$ (9)   

6    

6  

(2)          

(3)    

$  (4)

($ in billions)

18

th

19

20

Appendix

Capital Measures

(Dollars in millions, except per share data)

As of / Quarter Ended

Dec 31

2013

Sept 30

2013

June 30

2013

March 31

2013

Dec 31

2012

Selected Capital Information

Risk-based capital

Tier 1

$ 16,074

$ 15,606

$ 15,397

$ 14,432

$ 14,373

Total

19,512

19,255

19,193

18,321

18,267

Risk-weighted assets

136,366

138,303

138,265

135,914

136,367

Average quarterly tangible assets

172,142

173,787

174,865

174,214

175,015

Risk-based capital ratios

Tier 1

11.8%

11.3%

11.1%

10.6%

10.5%

Total

14.3

13.9

13.9

13.5

13.4

Leverage capital ratio

9.3

9.0

8.8

8.3

8.2  

Equity as a percentage of total assets

12.5

12.2

12.0

11.7

11.5

Book value per common share

$28.52

$27.59

$27.51

$27.15

$ 27.21

Selected non-GAAP Capital Information

(1)(3)

Tangible common equity as a percentage of tangible assets

7.3%

6.9%

6.8%

6.7%

6.6 %

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

9.9

9.4

9.3   

9.1   

9.0 

Tangible book value per common share

$18.08

$17.06

$16.92

$16.50

$ 16.53

1.

Regulatory capital information is preliminary.

2.

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. 

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 may be presented by other companies.

21

1

2

22

(Dollars in millions)

Dec. 31,

2013

$

13,471

Adjustments:

Other comprehensive income related to AFS securities, defined benefit

pension and other postretirement employee benefit plans

-

Other adjustments

98

$

13,569

$

142,077

9.6%

Basel III Common Equity Tier 1 Ratio

1

1

Regulatory capital information is preliminary.  The Basel III common equity Tier 1 ratio reflects management’s interpretation of the regulatory requirements and is subject to change.

Common equity Tier 1 under Basel III definition

Estimated risk-weighted assets under Basel III definition

BaselIII common equity Tier 1 ratio

Tier 1 common equity under Basel I definition

Non-GAAP

Reconciliations

1

(Dollars in millions, except per share data)

As of / Quarter Ended

Dec 31

2013

Sept 30

2013

June 30

2013

March 31

2013

Dec 31

2012

Calculations

of

tangible

common

equity,

Tier

1

common

equity,

tangible

assets

and

related

measures:

3

$ 22,809

$ 22,094

$ 21,996

$ 21,229

$ 21,223

Less:

Preferred stock

2,603

2,603

2,603

2,116

2,116

Noncontrolling interests

50

45

56   

65    

65      

Intangible assets

7,383

7,418

7,444                      

7,477               

Tangible common equity

$12,773

$12,028

$11,893

$11,578

$11,565    

Add:

Regulatory adjustments

698

975

901

738

692     

Tier 1 common equity (Basel I)

$13,471

$13,003

$12,794

$12,316

$12,257

Total assets

$182,341

$181,050

$182,735

$180,837

$183,872

Less:

Intangible assets

7,383

7,418

7,444

7,470

7,477

Tangible assets

$174,958

$173,632

$175,291

$173,367

$176,395

Total risk-weighted assets

$136,366

$138,303

$138,265

$135,914

$136,367

Tangible common equity as a percentage of tangible assets

7.3%

6.9%

6.8%

6.7%

6.6%

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

9.9

9.4

9.3  

9.1  

9.0

Tangible common equity

$12,773

$12,028

$11,893

$11,578

$11,565

Outstanding shares at end of period (in thousands)

706,620

704,925

702,995

701,440

699,728

Tangible book value per common share

$18.08

$17.06

$16.92

$16.50

$ 16.53

1.

Regulatory capital information is preliminary.

2.

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.

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 may be presented by other companies.

23

7,470

2

Total shareholders’ equity

3

3

Non-GAAP Reconciliations

As of / Quarter Ended

Dec 31

2013

Sept 30

2013

June 30

2013

March 31

2013

Dec 31

2012

Asset Quality Ratios (including amounts related to

covered loans and covered foreclosed property)

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

percentage of total loans and leases

1,2

0.88%

0.87%

0.88%

0.91%

1.02%

Loans 90 days or more past due and still accruing as a

percentage of total loans and leases

1,2

0.36

0.41

0.44

0.43

0.52

Nonperforming loans and leases as a percentage of

total loans and leases

0.80

0.87

0.97

1.09

1.17

Nonperforming assets as a percentage of:

Total assets

0.64

0.72

0.80

0.91

0.97

Loans and leases plus foreclosed property

1.00

1.10

1.23

1.39

1.51

Net charge-offs as a percentage of average loans and

leases

0.48

0.48

0.74

1.00

1.02

Allowance for loan and lease losses as a percentage of

loans and leases held for investment

1.49

1.59

1.64

1.73

1.76

Ratio of allowance for loan and lease losses to:

Net charge-offs

3.06 X

3.22 X

2.18 X

1.69 X

1.69 X

Nonperforming loans and leases held for investment

1.85

1.78

1.66

1.54

1.46

24

Applicable ratios are annualized.

1

Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.

2

Excludes mortgage loans guaranteed by the government.

Non-GAAP Reconciliations

As of / Quarter Ended

Dec 31

2013

Sept 30

2013

June 30

2013

March 31

2013

Dec 31

2012

Asset Quality Ratios (excluding amounts related to

covered loans and covered foreclosed property)

3

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

percentage of total loans and leases

1,2

0.82%

0.79%

0.81%

0.83%

0.93%

Loans 90 days or more past due and still accruing as a

percentage of total loans and leases

1,2

0.11

0.10

0.11

0.12

0.15

Nonperforming loans and leases as a percentage of

total loans and leases

0.81

0.89

0.99

1.12

1.20

Nonperforming assets as a percentage of:

Total assets

0.58

0.65

0.71

0.80

0.85

Loans and leases plus foreclosed property

0.91

1.00

1.10

1.23

1.33

Net charge-offs as a percentage of average loans and

leases

0.49

0.49

0.75

0.98

1.04

Allowance for loan and lease losses as a percentage of

loans and leases held for investment

1.42

1.51

1.57

1.65

1.70

Ratio of allowance for loan and lease losses to:

Net charge-offs

2.88 X

3.03 X

2.07 X

1.65 X

1.60 X

Nonperforming loans and leases held for investment

1.73

1.66

1.55

1.43

1.37

25

Applicable ratios are annualized.

1

Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.

2

Excludes mortgage loans guaranteed by the government.

3

These asset quality ratios have been adjusted to remove the impact of covered loans and covered foreclosed property.  Appropriate adjustments to the numerator and denominator have

been reflected in the calculation of these ratios.  Management believes the inclusion of covered loans 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.

Non-GAAP Reconciliations

Quarter Ended

Efficiency and Fee Income Ratios

Dec 31

2013

Sept 30

2013

June 30

2013

March 31

2013

Dec 31

2012

Efficiency

ratio

–

GAAP

61.1%

62.4%

59.9%

57.5%

58.8%

Effect of securities gains (losses), net

0.1

-

0.5

0.5

-

Effect of merger-related and restructuring charges, net

(0.4)

(0.2)

(1.1)

(0.2)

(0.5)

Effect of  gain on sale of subsidiary

0.8

-

-

-

-

Effect of FDIC loss share accounting

(0.2)

-

(0.2)

0.5

(0.1)

Effect of foreclosed property expense

(0.5)

(0.6)

(0.5)

(0.8)

(1.9)

Effect of owned real estate adjustments

-

(0.5)

-

-

-

Effect of amortization of intangibles

(1.0)

(1.0)

(1.0)

(1.1)

(1.0)

Efficiency

ratio

–

reported

59.9

60.1

57.6

56.4

55.3

Fee income ratio –

GAAP

41.4%

38.4%

41.9%

40.7%

40.3%

Effect of securities gains (losses), net

(0.1)

-

(0.5)

(0.5)

-

Effect of gain on sale of subsidiary

(0.8)

-

-

-

-

Effect of FDIC loss share accounting

3.0

3.2

3.2

2.7 

3.8

Fee

income

ratio

–

reported

43.5

41.6

44.6

42.9

44.1

26

Non-GAAP Reconciliations

27

Year-to-Date Dec 31

Efficiency and Fee Income Ratios

2013

2012

Efficiency ratio –

GAAP

60.2%

59.3%

Effect of securities gains (losses), net

0.3

(0.1)

Effect of merger-related and restructuring charges, net

(0.5)

(0.7)

Effect of gain on sale of subsidiary

0.2

-

Effect of mortgage repurchase expense adjustments

-

(0.1)

Effect of FDIC loss share accounting

-

0.1

Effect of affordable housing investments write-down

-

(0.2)

Effect of foreclosed property expense

(0.6)

(2.7)

Effect of leveraged lease sale/write-downs

-

(0.2)

Effect of owned real estate adjustments

(0.1)

-

Effect of amortization of intangibles

(1.0)

(1.1)

Efficiency ratio –

reported

58.5

54.3

Fee income ratio –

GAAP

40.6%

38.9%

Effect of securities gains (losses), net

(0.3)

0.1

Effect of gain on sale of subsidiary

(0.2)

-

Effect of affordable housing investments write-down

-

0.2

Effect of FDIC loss share accounting

3.1

3.3

43.2

42.5

Fee income ratio –

reported

Non-GAAP Reconciliations

(Dollars in millions)

Quarter Ended

Dec 31

Sept 30

June 30

Mar 31

Dec  31

Return on Average Tangible Common Shareholders' Equity

2013

2013

2013

2013

2012

Net income available to common shareholders

$

537

$

268

$

547

$

210

$

506

Plus:

Amortization of intangibles, net of tax

16

16

17

17

17

Tangible net income available to common shareholders

$

553

$

284

$

564

$

227

$

523           

Average common shareholders' equity

$

19,657

$

19,491

$

19,293

$

19,138

$

19,160

Less:

Average intangible assets

7,397

7,431

7,456

7,464

7,463

Average tangible common shareholders' equity

$

12,260

$

12,060

$

11,837

$

11,674

$

11,697

Return on average tangible common shareholders' equity

17.91

%

9.33

%

19.12

%

7.87

%

17.80

%

28

Non-GAAP Reconciliations

29

Quarter Ended

Reported net interest margin vs. core net interest margin

Dec 31

2013

Sept 30

2013

June 30

2013

March 31

2013

Dec 31

2012

Reported

net

interest

margin

-

GAAP

3.56%

3.68%

3.70%

3.76%

3.84%

Adjustments to interest income for covered assets:

Effect of covered securities

(0.05)

(0.07)

(0.06)

(0.07)

(0.09)

Effect of covered loans

(0.19)

(0.24)

(0.26)

(0.28)

(0.36)

Adjustments to interest expense:

Effect of interest expense on covered assets

0.02

0.02

0.02

0.02

0.03

Core net interest margin

3.34%

3.39%

3.40%

3.43%

3.42 %

Non-GAAP Reconciliations

30

(Dollars in millions, except per share data)

Net Income Available to Common Shareholders

Quarter Ended

Sept 30,

2013

Net income

available

to

common

shareholders

-

GAAP

$

268

Effect of tax adjustment

235

Net

income

available

to

common

shareholders

–

adjusted 

$

503

Diluted EPS

Diluted

EPS

–

GAAP

$

0.37

Effect of tax adjustment

0.33

Diluted

EPS

–

adjusted

$

0.70

(Dollars in millions, except per share data)

Net Income Available to Common Shareholders

Quarter Ended

Mar 31,

2013

Net

income

available

to

common

shareholders -

GAAP

$

210

Effect of tax adjustment

281

Net income

available

to

common

shareholders –

adjusted

$

491

Diluted EPS

Diluted

EPS

–

GAAP

$

0.29

Effect of tax adjustment

0.40

Diluted

EPS

–

adjusted

$

0.69