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|
|Total comprehensive income||$2,068||$1,695|
|Balance sheet data (in $ millions)|
|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”