BB&T 2012 Annual Report Download - page 15

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2012 Annual Report
13
treasury management, corporate leasing and insurance/risk
management. When the financial-markets crisis forced many
weaker banks to retreat, BB&T gained market share in the
corporate segment by increasing our lending activity. Many
corporate clients and prospects have welcomed BB&T as
a strong partner capable of providing a broad suite of corporate
banking services. In 2012, we expanded into the Midwest
and West Coast with offices in Chicago, Cincinnati and
San Francisco. Our Capital Markets Corporate Banking group
serves companies throughout the U.S. with annual revenues
of $250 million or more. We have lending and investment
banking expertise across a wide range of industries, including
transportation, industrial, government information-technology
services, energy, healthcare, consumer products, automotive
aftermarket, agribusiness, foods and Real Estate Investment
Trusts. Our expanded corporate banking activity also has
served to accelerate our progress in diversifying BB&T’s
balance sheet by adding more commercial and industrial loans
to high-quality corporations across the nation.
At the same time, BB&T’s specialized lending businesses
focused on specific products are expanding their national-
scale businesses in areas including asset-based loans, direct
consumer lending, leasing equipment ranging from rail to
mining to corporate aircraft, and outdoor power equipment and
recreation equipment finance.
We are accelerating the growth of our business focused on
clients seeking help in managing their wealth, an area we
started building over the last decade. With an uncertain
economy, there is a greater need for financial advice than ever
before, and BB&T’s advisors are meeting that need with expert
counsel in subjects ranging from retirement and investments
to inheritance and taxes.
Overall, our investment in revenue growth is broad based. With
an improving housing market, we expect steady improvement
in residential real estate lending, with the most notable gains
in Florida, Atlanta and some of the other markets hardest hit
by the downturn over the last five years. We also are positioned
to benefit from stabilization in commercial real estate, led by
BB&T’s experienced and prudent lenders. We are ramping up
our focus on loans to physicians, lawyers and other professional
groups as well as on financing for auto dealerships.
BB&T now ranks as the ninth-largest U.S. bank in total
deposits. More importantly, we are continuing to improve
our deposit mix by aggressively managing down our deposit
cost. Our cost of interest-bearing deposits decreased to
38 basis points for the fourth quarter compared with 56 basis
points in the fourth quarter last year, which in turn benefits
our net interest margin. We opened 34,000 net new retail
deposit accounts in 2012. We are winning new clients with our
accessible mobile banking services.
Many corporate clients and prospects have
welcomed BB&T as a strong partner capable of providing
a broad suite of corporate banking services.
Broad-based Loan Growth Improved Deposit Mix and Cost
Average Loans Held for Investment Average Deposits
Total Interest-Bearing Deposit Cost