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BB&T Corp.

Truist Financial Corp (BBT)

BB&T Corporation, incorporated on September 24, 1968, is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services. Branch Bank provided a range of banking and trust services for retail and commercial clients in its geographic markets, including small and mid-size businesses, public agencies, local governments and individuals, through 2,196 offices, as of December 31, 2016. Its subsidiaries offer a variety of services targeted to retail and commercial clients. Its insurance operations primarily consist of a wholesale/agency network. Its retail services include asset management, automobile lending, bankcard lending, consumer finance, home equity lending, home mortgage lending, insurance, investment brokerage services, payment solutions and sales finance, among others. Its commercial services include asset management, association services, capital market services, commercial deposit services, commercial finance, corporate banking, floor plan lending, insurance, merchant services, real estate lending and payment solutions, among others.

Lending Activities

Branch Bank offers a range of loans, including commercial and industrial, commercial real estate (CRE), direct retail lending and residential mortgage, among others. As of December 31, 2016, its direct retail lending portfolio included $8.7 billion of variable rate home equity lines, $946 million of variable rate other lines of credit and $326 million of variable rate loans.

Investment Activities

Branch Bank invests in securities allowable under bank regulations, which include obligations of the United States Treasury; the United States Government agencies; the United States government-sponsored enterprise (GSEs), including mortgage-backed securities (MBS); bank eligible obligations of any state or political subdivision; non-agency MBS, structured notes; bank eligible corporate obligations (including corporate debentures); commercial paper; negotiable certificate of deposits (CDs); bankers acceptances; mutual funds, and limited types of equity securities. Its full-service brokerage and investment banking subsidiary engages in the underwriting, trading and sales of equity and debt securities subject to the risk management policies of the Company. As of December 31, 2016, its total available-for-sale securities were $26.93 million. As of December 31, 2016, its total held-to-maturity securities were $16.68 million.

Sources of Funds

Deposits are the primary source of funds for lending and investing activities. Scheduled payments, as well as prepayments, and maturities from portfolios of loans and investment securities also provide a source of funds. Deposits are attracted principally from clients within its branch network through the offering of a selection of deposit instruments to individuals and businesses, including noninterest-bearing checking accounts, interest-bearing checking accounts, savings accounts, money market deposit accounts, CDs and individual retirement accounts (IRAs). As of December 31, 2016, its total deposits were $160.2 billion. It also uses various types of short-term borrowings to meet funding needs. The types of short-term borrowings that are used by the Company include Federal funds purchased, securities sold under repurchase agreements, master notes, commercial paper, short-term bank notes and short-term Federal Home Loan Bank (FHLB) advances. As of December 31, 2016, its short-term borrowings were $1.4 billion.

Subsidiary Activities

Branch Bank's principal operating subsidiaries include BB&T Equipment Finance Corporation, which provides loan and lease financing to commercial and small businesses; BB&T Insurance Services, Inc., which offers property and casualty, life, health, employee benefits, commercial general liability, surety, title and other insurance products through its agency network; BB&T Investment Services, Inc., which is a broker-dealer and offers clients non-deposit investment products, including discount brokerage services, equities, fixed-rate, variable-rate and index annuities, mutual funds, government and municipal bonds, and money market funds; CRC Insurance Services, Inc., which is a wholesale insurance broker; Crump Life Insurance Services, Inc., which is a wholesale insurance broker; Grandbridge Real Estate Capital, LLC, which specializes in arranging and servicing commercial mortgage loans; McGriff, Seibels & Williams, Inc., which specializes in providing insurance products on an agency basis to commercial clients, and Prime Rate Premium Finance Corporation, Inc. and its subsidiaries, which include AFCO Credit Corporation, providing insurance financing to clients in the United States and Canada, and Susquehanna Commercial Finance, Inc., providing loans and lease financing to commercial and small businesses. Branch Bank's nonbank subsidiaries include BB&T Securities, LLC, Regional Acceptance Corporation and Sterling Capital Management, LLC.

BB&T Securities, LLC is an investment banking and full-service brokerage firm that provides services in retail brokerage, equity and debt underwriting, investment advice, corporate finance and equity research, and facilitates the origination, trading and distribution of fixed-income securities and equity products in both the public and private capital markets. BB&T Securities, LLC also provides correspondent clearing services to broker-dealers and entities involved in the securities industry. Regional Acceptance Corporation specializes in nonprime, indirect financing for consumer purchases of primarily mid-model and late-model used automobiles. Sterling Capital Management, LLC is an investment advisor, which provides investment management solutions to meet the specific needs and objectives of individual and institutional clients through a range of investment strategies.

Fundamentals

Optimized Dividends

Annual Dividends

Year Amount Change
2006 0.0c
2007 0.0c 0%
2008 0.0c 0%
2009 0.0c 0%
2010 0.0c 0%
2011 0.0c 0%
2012 80.0c 100%
2013 92.0c 15.0%
2014 95.0c 3.3%
2015 105.0c 10.5%
2016 115.0c 9.5%
2017 126.0c 9.6%
2018 151.5c 20.2%
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Dividends

Ex-Div Date Pay Date Year Type Frequency Status Amount
04 Apr 2012 01 May 2012 2012 Interim Quarterly Paid 20c
03 Jul 2012 01 Aug 2012 2012 Interim Quarterly Paid 20c
03 Oct 2012 01 Nov 2012 2012 Interim Quarterly Paid 20c
02 Jan 2013 01 Feb 2013 2012 Final Quarterly Paid 20c
06 Feb 2013 01 Mar 2013 2013 Interim Quarterly Paid 23c
08 May 2013 03 Jun 2013 2013 Interim Quarterly Paid 23c
07 Aug 2013 03 Sep 2013 2013 Interim Quarterly Paid 23c
06 Nov 2013 02 Dec 2013 2013 Final Quarterly Paid 23c
12 Feb 2014 03 Mar 2014 2014 Interim Quarterly Paid 23c
14 May 2014 02 Jun 2014 2014 Interim Quarterly Paid 24c
06 Aug 2014 02 Sep 2014 2014 Interim Quarterly Paid 24c
05 Nov 2014 01 Dec 2014 2014 Final Quarterly Paid 24c
11 Feb 2015 02 Mar 2015 2015 Interim Quarterly Paid 24c
13 May 2015 01 Jun 2015 2015 Interim Quarterly Paid 27c
12 Aug 2015 01 Sep 2015 2015 Interim Quarterly Paid 27c
10 Nov 2015 01 Dec 2015 2015 Final Quarterly Paid 27c
10 Feb 2016 01 Mar 2016 2016 Interim Quarterly Paid 27c
11 May 2016 01 Jun 2016 2016 Interim Quarterly Paid 28c
10 Aug 2016 01 Sep 2016 2016 Interim Quarterly Paid 30c
08 Nov 2016 01 Dec 2016 2016 Final Quarterly Paid 30c
08 Feb 2017 01 Mar 2017 2017 Interim Quarterly Paid 30c
10 May 2017 01 Jun 2017 2017 Interim Quarterly Paid 30c
09 Aug 2017 01 Sep 2017 2017 Interim Quarterly Paid 33c
09 Nov 2017 01 Dec 2017 2017 Final Quarterly Paid 33c
08 Feb 2018 01 Mar 2018 2018 Interim Quarterly Paid 33c
05 Mar 2018 20 Mar 2018 2018 Special Irregularly Paid 4.5c
10 May 2018 01 Jun 2018 2018 Interim Quarterly Paid 37.5c
09 Aug 2018 04 Sep 2018 2018 Interim Quarterly Paid 40.5c
08 Nov 2018 03 Dec 2018 2018 Final Quarterly Paid 40.5c
12 Feb 2019 01 Mar 2019 2019 Interim Quarterly Paid 40.5c
14 May 2019 03 Jun 2019 2019 Interim Quarterly Paid 40.5c
13 Aug 2019 03 Sep 2019 2019 Interim Quarterly Paid 45c
07 Nov 2019 02 Dec 2019 2019 Final Quarterly Declared 45c
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