BB&T 2014 Annual Report Download - page 58
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Table of Contents
NPAs as a percentage of loans and leases plus foreclosed property were 0.65% at December 31, 2014 compared with 1.01% at December 31, 2013.
The following table presents the changes in NPAs during 2014 and 2013 (excludes foreclosed property acquired from the FDIC):
Balance at beginning of year $ 1,053 $ 1,536
New NPAs 1,307 1,583
Advances and principal increases 74 177
Disposals of foreclosed assets (487) (533)
Disposals of NPLs (1) (332) (348)
Charge-offs and losses (309) (511)
Payments (398) (636)
Transfers to performing status (192) (212)
Other, net 10 (3)
Balance at end of year $ 726 $ 1,053
(1) Includes charge-offs and losses recorded upon sale of $25 million and $73 million for the years ended December 31, 2014 and 2013, respectively.
The following tables summarize asset quality information for the past five years. As more fully described below, this information has been adjusted to
exclude certain components:
·BB&T has recorded certain amounts related to government guaranteed GNMA mortgage loans that BB&T has the option, but not the
obligation, to repurchase and has effectively regained control. These amounts are reported in the Consolidated Balance Sheets but have
been excluded from the asset quality disclosures, as management believes they result in distortion of the reported metrics. The amount of
government guaranteed GNMA mortgage loans that have been excluded are noted in the footnotes to Table 22.
·In addition, BB&T has concluded that the inclusion of loans acquired from the FDIC in “Loans 90 days or more past due and still accruing
as a percentage of total loans and leases” may result in significant distortion to this ratio. The inclusion of these loans could result in a lack
of comparability across quarters or years, and could negatively impact comparability with other portfolios that were not impacted by
acquisition accounting. BB&T believes that the presentation of this asset quality measure excluding loans acquired from the FDIC provides
additional perspective into underlying trends related to the quality of its loan portfolio. Accordingly, the asset quality measures in Table 23
present asset quality information on a consolidated basis as well as “Loans 90 days or more past due and still accruing as a percentage of
total loans and leases” excluding loans acquired from the FDIC.
57
Source: BB&T CORP, 10-K, February 25, 2015 Powered by Morningstar® Document Research℠
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