BB&T 2015 Annual Report Download - page 115

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During the first quarter of 2014, approximately $8.3 billion of nonguaranteed, closed-end, first and second lien position residential mortgage loans, along
with the related allowance, were transferred from direct retail lending to residential mortgage to facilitate compliance with a series of new rules related to
mortgage servicing associated with first and second lien position mortgages collateralized by real estate.
During the third quarter of 2014, approximately $550 million of loans, which were primarily performing residential mortgage TDRs, with a related ALLL of
$57 million were sold for a gain of $42 million. During the fourth quarter of 2014, approximately $140 million of loans, which were primarily residential
mortgage NPLs, with a related ALLL of $19 million were sold for a gain of $24 million. Both gains were recognized as reductions to the provision for credit
losses.
Effective October 1, 2014, loans subject to the commercial loss sharing agreement with the FDIC related to the Colonial acquisition were no longer covered
by loss sharing. At December 31, 2015, these loans had a carrying value of $273 million, a UPB of $462 million and an allowance of $41 million and are
included in PCI. Loans with a carrying value of $539 million at December 31, 2015 continue to be covered by loss sharing and are included in PCI.
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     
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Commercial:
Commercial and industrial $ 48,157 $ 36 $ ― $ 237 $ 48,430
CRE-income producing properties 13,370 13 ― 38 13,421
CRE-construction and development 3,710 9 ― 13 3,732
Dealer floor plan 1,215 ― ― ― 1,215
Other lending subsidiaries 6,771 18 ― 6 6,795
Retail:
Direct retail lending 11,032 58 7 43 11,140
Revolving credit 2,478 22 10 ― 2,510
Residential mortgage-nonguaranteed 29,038 397 55 173 29,663
Residential mortgage-government guaranteed 307 77 486 ― 870
Sales finance 10,243 72 5 7 10,327
Other lending subsidiaries 6,381 286 ― 59 6,726
PCI 966 42 114 ― 1,122
Total $ 133,668 $ 1,030 $ 677 $ 576 $ 135,951
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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