BB&T Corporation – Company Information

Company BB&T Corporation
Headquarters 200 West Second Street Winston-Salem, NC 27101, USA
Chairman and CEO  Kelly S. King
CFO Daryl N. Bible
Industry Financial Services
Founder Alpheus Branch and Thomas Jefferson Hadley
Founded 1872
Type Public
NYSE stock symbol BBT
Net interest income $5.374 billion (2014)
Net income $2,226 million (2014)
Earnings per share $2.75 USD (2014)
Employees 33,400 (2014)
Investor relations contact number: 336-733-3058

BB&T Corporation is one of America’s largest financial services holding companies.

The company is headquartered in Winston-Salem, North Carolina.

It has a little over $184 billion in assets and market capitalization of around $28.9 billion.

BB&T has approximately 1,839 financial centers across 13 states and Washington D.C.

It offers a range of services, including: consumer and commercial banking, mortgages, asset management, insurance products, securities brokerage, and other investment banking services.

BB&T’s principal subsidiaries are: Branch Banking and Trust Company (Winston-Salem, North Carolina), BB&T Securities, LLC (Richmond, Virginia), Regional Acceptance Corporation (Greenville, North Carolina), American Coastal Insurance Company (Davie, Florida), Sterling Capital Management, LLC (Charlotte, North Carolina).

The history of the company traces back to 1872 with the establishment of the company “Branch and Hadley”, which was founded by Alpheus Branch and Thomas Jefferson Hadley. Since its inception the company has acquired a number of financial institutions, including: First Financial of Petersburg, Fidelity Financial Bankshares, Franklin Bancorporation, and Maryland Federal Bancorp.

Income statement data (in $ millions) 2014* 2013*
Total interest income $6,142 $6,507
Total interest expense $768 $891
Net Interest Income $5,374 $5,616
Total noninterest income $3,784 $3,937
Total noninterest expense $5,921 $5,837
Income before income taxes $2,986 $3,124
Provision for income taxes $760 $1,395
Net income $2,226 $1,729
Total comprehensive income $2,068 $1,695
Balance sheet data (in $ millions)
Total assets $186,814 $183,010
Total liabilities $162,388 $160,201
Total shareholders’ equity $24,426 $22,809
Common share data (in $)
Earnings per Common Share – Basic $2.79 $2.22
Earnings per Common Share – Diluted $2.75 $2.19
Cash flow data (in $ millions)
Net cash provided from operating activities $3,258 $5,339
Net cash provided from investing activities $(4,063) $(4,240)
Net cash provided from financing activities $965 $(1,973)
Cash and cash equivalents at beginning of period $2,165 $3,039
Cash and cash equivalents at end of period $2,325 $2,165

*Years Ended December 31
Source: “BB&T Corporation Form 10-K 2014”