BB&T 2014 Annual Report Download - page 140
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Table of Contents
Short-term borrowings: The carrying amounts of short-term borrowings approximate their fair values.
Long-term debt: The fair values of long-term debt instruments are estimated based on quoted market prices for the instrument if available, or for similar
instruments if not available, or by using discounted cash flow analyses, based on current incremental borrowing rates for similar types of instruments.
Contractual commitments: The fair values of commitments are estimated using the fees charged to enter into similar agreements, taking into account the
remaining terms of the agreements and the present creditworthiness of the counterparties. The fair values of guarantees and letters of credit are estimated
based on the counterparties’ creditworthiness and average default rates for loan products with similar risks. These respective fair value measurements are
categorized within Level 3 of the fair value hierarchy. Retail lending commitments are assigned no fair value as BB&T typically has the ability to cancel
such commitments by providing notice to the borrower.
Financial assets:
HTM securities $ 20,240 $ 20,313 $ 20,313 $ ―
Loans and leases, net of ALLL excluding acquired from FDIC 117,259 117,268 ― 117,268
Acquired from FDIC loans, net of ALLL 1,151 1,337 ― 1,337
FDIC loss share receivable 534 123 ― 123
Financial liabilities:
Deposits 129,040 129,259 129,259 ―
FDIC loss share payable 697 696 ― 696
Long-term debt 23,312 24,063 24,063 ―
Financial assets:
HTM securities $ 18,101 $ 17,530 $ 17,491 $ 39
Loans and leases, net of ALLL excluding acquired from FDIC 112,264 112,261 ― 112,261
Acquired from FDIC loans, net of ALLL 1,921 2,200 ― 2,200
FDIC loss share receivable 843 464 ― 464
Financial liabilities:
Deposits 127,475 127,810 127,810 ―
FDIC loss share payable 669 652 ― 652
Long-term debt 21,493 22,313 22,313 ―
The following is a summary of selected information pertaining to off-balance sheet financial instruments:
Commitments to extend, originate or purchase credit $ 49,333 $ 97 $ 45,333 $ 86
Residential mortgage loans sold with recourse 667 9 783 13
Other loans sold with recourse 4,264 7 4,594 9
Letters of credit and financial guarantees 3,462 22 4,355 39
139
Source: BB&T CORP, 10-K, February 25, 2015 Powered by Morningstar® Document Research℠
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