BB&T 2008 Annual Report Download - page 83

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Item 1. Financial Statements
BB&T CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31, 2008 and 2007
(Dollars in millions, except per share data, shares in thousands)
2008 2007
Assets
Cash and due from banks $ 1,639 $ 2,050
Interest-bearing deposits with banks 751 388
Federal funds sold and securities purchased under resale agreements or similar
arrangements 350 679
Segregated cash due from banks 379 208
Trading securities at fair value 376 1,009
Securities available for sale at fair value 32,843 22,419
Loans held for sale ($1,396 at fair value at December 31, 2008) 1,424 779
Loans and leases 97,245 90,907
Allowance for loan and lease losses (1,574) (1,004)
Loans and leases, net of allowance for loan and lease losses 95,671 89,903
Premises and equipment 1,580 1,529
Goodwill 5,483 5,194
Core deposit and other intangible assets 542 489
Residential mortgage servicing rights at fair value 370 472
Other assets 10,607 7,499
Total assets $ 152,015 $ 132,618
Liabilities and Shareholders’ Equity
Deposits:
Noninterest-bearing deposits $ 13,649 $ 13,059
Interest checking 2,576 1,201
Other client deposits 39,413 35,504
Client certificates of deposit 27,937 26,972
Other interest-bearing deposits 15,038 10,030
Total deposits 98,613 86,766
Federal funds purchased, securities sold under repurchase agreements and short-term
borrowed funds 10,788 10,634
Long-term debt 18,032 18,693
Accounts payable and other liabilities 8,545 3,893
Total liabilities 135,978 119,986
Commitments and contingencies (Note 15)
Shareholders’ equity:
Preferred stock, liquidation preference of $1,000,000 per share 3,082 —
Common stock, $5 par 2,796 2,730
Additional paid-in capital 3,510 3,087
Retained earnings 7,381 6,919
Accumulated other comprehensive loss, net of deferred income taxes of $(438) at
December 31, 2008 and $(65) at December 31, 2007 (732) (104)
Total shareholders’ equity 16,037 12,632
Total liabilities and shareholders’ equity $ 152,015 $ 132,618
Common shares outstanding 559,248 545,955
Common shares authorized 1,000,000 1,000,000
Preferred shares outstanding 3—
Preferred shares authorized 5,000 5,000
The accompanying notes are an integral part of these consolidated financial statements.
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