BB&T 2008 Annual Report Download - page 79
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Table 29
Quarterly Financial Summary—Unaudited
2008 2007
Fourth
Quarter Third
Quarter Second
Quarter First
Quarter Fourth
Quarter Third
Quarter Second
Quarter First
Quarter
(Dollars in millions, except per share data)
Consolidated Summary of
Operations:
Interest income $ 1,729 $ 1,793 $ 1,790 $ 1,895 $ 2,012 $ 2,030 $ 1,961 $ 1,891
Interest expense 664 705 722 878 1,021 1,052 995 946
Provision for credit losses 528 364 330 223 184 105 88 71
Securities gains (losses), net 41 13 10 43161(11)
Other noninterest income 766 779 817 728 717 669 728 663
Noninterest expense 1,014 1,009 962 936 942 888 923 883
Provision for income taxes (1) 25 149 175 201 172 216 226 222
Net income $ 305 $ 358 $ 428 $ 428 $ 411 $ 444 $ 458 $ 421
Net income available to common
shareholders $ 284 $ 358 $ 428 $ 428 $ 411 $ 444 $ 458 $ 421
Basic earnings per common
share $ .51 $ .65 $ .78 $ .78 $ .75 $ .81 $ .84 $ .78
Diluted earnings per common
share $ .51 $ .65 $ .78 $ .78 $ .75 $ .80 $ .83 $ .77
Selected Average Balances:
Assets $141,555 $136,933 $135,557 $133,425 $131,009 $128,633 $124,848 $121,054
Securities, at amortized cost 26,573 24,083 23,898 23,414 23,967 24,246 23,124 21,872
Loans and leases (2) 97,224 95,943 94,866 92,718 90,805 89,090 86,939 84,894
Total earning assets 125,144 121,001 119,799 117,414 116,029 114,441 111,030 107,606
Deposits 91,986 90,021 86,685 86,583 85,260 84,223 81,959 82,523
Federal funds purchased,
securities sold under
repurchase agreements and
short-term debt 12,296 8,915 10,350 10,760 10,739 9,892 9,000 7,627
Long-term debt 17,700 20,770 21,697 19,201 18,864 18,721 18,471 16,086
Total interest-bearing liabilities 108,684 106,525 105,646 103,868 101,823 99,588 96,063 93,290
Shareholders’ equity 14,924 13,133 12,982 12,929 12,655 12,359 12,113 11,522
(1) Fourth quarter 2008 and 2007, respectively include a credit of $60 million and a credit of $7 million to the
provision for income taxes related to leveraged leases.
(2) Loans and leases are net of unearned income and include loans held for sale.
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