BB&T 2013 Annual Report Download - page 68

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68
Total deposits were $127.5 billion at December 31, 2013, a decrease of $5.6 billion, or 4.2%, compared to year-end 2012.
Noninterest-bearing deposits totaled $35.0 billion at December 31, 2013, an increase of $2.5 billion, or 7.8%, from December
31, 2012. The increase in noninterest-bearing deposits was broad based in nature, with increases in deposits from personal,
business and public funds clients. Interest checking and money market and savings accounts decreased $1.5 billion, or 2.1%,
compared to the prior year while certificates and other time deposits declined $6.7 billion, or 21.1%, during that same time
period. For the year ended December 31, 2013, total deposits averaged $128.6 billion, an increase of $938 million, or 0.7%,
compared to 2012. Management currently expects continued growth in client deposit balances during 2014.
The following table presents the composition of average deposits for the last five quarters:
Table 28
Composition of Average Deposits
For the Three Months Ended
12/31/13 9/30/13 6/30/13 3/31/13 12/31/12
(Dollars in millions)
N
oninteres
t
-bearing deposits $ 35,347 $ 34,244 $ 33,586 $ 32,518 $ 31,849
Interest checking 18,969 18,826 19,276 20,169 19,837
Money market and savings 49,298 48,676 48,140 48,431 47,965
Certificates and other time deposits 21,580 25,562 28,034 28,934 31,724
Foreign office deposits - interest-bearing 712 640 947 385 387
Total average deposits $ 125,906 $ 127,948 $ 129,983 $ 130,437 $ 131,762
Average deposits for the fourth quarter of 2013 decreased $2.0 billion, or 6.3% on an annualized basis, compared to the third
quarter. Deposit mix continued to improve during the quarter as average noninterest-bearing deposits grew $1.1 billion, while
average certificates and other time deposits decreased $4.0 billion. Average noninterest-bearing deposits represented 28.1%
of total average deposits for the fourth quarter compared to 26.8% for the prior quarter.
Growth in average noninterest-bearing deposits was broad-based, with increases in deposits related to commercial, public
funds and personal accounts totaling $500 million, $347 million and $171 million, respectively. Average interest-checking
and money market and savings accounts increased $765 million compared to the prior quarter, reflecting growth in personal,
public funds and commercial accounts totaling $312 million, $254 million and $199 million, respectively. The decrease in
average certificates and other time deposits was primarily driven by a $3.0 billion decline in non-client certificates of deposit.
Average foreign office deposits increased $72 million compared to the prior quarter.
The cost of interest-bearing deposits was 0.28% for the fourth quarter, a decrease of three basis points compared to the prior
quarter.
The following table provides information regarding the scheduled maturities of time deposits that are $100,000 and greater at
December 31, 2013:
Table 29
Scheduled Maturities of Time Deposits $100,000 and Greater
December 31, 2013
(Dollars in millions)
Three months or less $ 8,034
Over three through six months 1,415
Over six through twelve months 1,473
Over twelve months 3,251
Total $ 14,173