BB&T 2009 Annual Report Download - page 22
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The following table reflects the scheduled maturities of commercial, financial and agricultural loans, as well
as real estate construction loans:
Table 4
Selected Loan Maturities and Interest Sensitivity (1)
December 31, 2009
Commercial,
Financial
and
Agricultural Real Estate:
Construction Total
(Dollars in millions)
Fixed rate:
1 year or less (2) $ 5,355 $ 5,284 $10,639
1-5 years 2,903 2,508 5,411
After 5 years 3,334 2,195 5,529
Total 11,592 9,987 21,579
Variable rate:
1 year or less (2) 3,444 3,398 6,842
1-5 years 2,156 1,422 3,578
After 5 years 576 546 1,122
Total 6,176 5,366 11,542
Total loans and leases (3) $17,768 $15,353 $33,121
(1) Balances include unearned income.
(2) Includes loans due on demand.
(Dollars in
millions)
(3) The above table excludes:
(i) consumer loans $13,910
(ii) real estate mortgage loans 55,647
(iii) loans held for sale 2,551
(iv) lease receivables 1,558
Total $73,666
Scheduled repayments are reported in the maturity category in which the payment is due. Determinations of
maturities are based upon contract terms. In accordance with regulatory reporting standards, variable rate loans
that have reached a floor are reported as fixed-rate loans. BB&T’s credit policy typically does not permit
automatic renewal of loans. At the scheduled maturity date (including balloon payment date), the customer
generally must request a new loan to replace the matured loan and execute either a new note or note modification
with rate, terms and conditions negotiated at that time.
Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments
The allowance for loan and lease losses is determined based on management’s best estimate of probable
losses that are inherent in the portfolio at the balance sheet date. BB&T’s allowance is driven by existing
conditions and observations, and reflects losses already incurred, even if not yet identifiable.
The Corporation determines the allowance based on an ongoing evaluation of the loan and lease portfolios.
This evaluation is inherently subjective because it requires material estimates, including the amounts and timing
of cash flows expected to be received on impaired loans. Those estimates may be susceptible to significant change.
Increases to the allowance are made by charges to the provision for credit losses, which is reflected in the
Consolidated Statements of Income. Loans or leases deemed to be uncollectible are charged against the
allowance. Recoveries of previously charged-off amounts are credited to the allowance.
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