$TFC-PR

BB&T CORP

CIK:0000092230|SEC Filings

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Interest and fees on loans and leases	$ 4,659	$ 4,657	$ 9,258	$ 9,150
Interest on securities	871	961	1,720	1,936
Interest on other earning assets	437	536	844	1,056
Total interest income	5,967	6,154	11,822	12,142
Interest Expense
Interest on deposits	1,575	1,844	3,100	3,580
Interest on long-term debt	485	431	930	840
Interest on other borrowings	286	292	572	628
Total interest expense	2,346	2,567	4,602	5,048
Net Interest Income	3,621	3,587	7,220	7,094
Provision for credit losses	395	488	874	946
Net Interest Income After Provision for Credit Losses	3,226	3,099	6,346	6,148
Noninterest Income
Total noninterest income	1,644	1,400	3,197	2,792
Noninterest Expense
Personnel expense	1,792	1,678	3,519	3,282
Professional fees and outside processing	335	373	648	737
Software expense	239	231	469	461
Net occupancy expense	171	181	350	349
Equipment expense	79	89	164	171
Marketing and customer development	91	82	170	157
Amortization of intangibles	63	73	127	148
Regulatory costs	61	55	129	124
Other expense	224	224	462	463
Total noninterest expense	3,055	2,986	6,038	5,892
Earnings
Income before income taxes	1,815	1,513	3,505	3,048
Provision for income taxes	262	273	471	547
Net income	1,553	1,240	3,034	2,501
Preferred stock dividends and other	34	60	138	164
Net income available to common shareholders	$ 1,519	$ 1,180	$ 2,896	$ 2,337
Basic EPS (in dollars per share)	$ 1.24	$ 0.91	$ 2.34	$ 1.80
Diluted EPS (in dollars per share)	$ 1.23	$ 0.90	$ 2.31	$ 1.78
Basic weighted average shares outstanding (in shares)	1,224,867	1,292,292	1,236,682	1,299,833
Diluted weighted average shares outstanding (in shares)	1,239,040	1,305,005	1,252,766	1,314,779
Wealth management income
Noninterest Income
Total noninterest income	$ 375	$ 348	$ 745	$ 692
Card and treasury management fees
Noninterest Income
Total noninterest income	353	351	691	684
Investment banking and trading income
Noninterest Income
Total noninterest income	352	205	724	478
Other deposit revenue
Noninterest Income
Total noninterest income	120	108	240	225
Mortgage banking income
Noninterest Income
Total noninterest income	116	107	249	215
Lending related fees
Noninterest Income
Total noninterest income	120	99	238	194
Securities gains (losses)
Noninterest Income
Total noninterest income	0	(18)	0	(19)
Other income
Noninterest Income
Total noninterest income	$ 208	$ 200	$ 310	$ 323

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Cash Flows From Operating Activities:

Net income

$ 3,034

$ 2,501

Adjustments to reconcile net income to net cash from operating activities:

Provision for credit losses

874

946

Depreciation

257

284

Amortization of intangibles

127

148

Net change in operating assets and liabilities:

LHFS

(576)

128

Pension asset

(169)

(145)

Derivative assets and liabilities

378

(1,106)

Trading assets

502

(863)

Investments in affordable housing projects and other qualified tax credits

^[1]

(605)

Other assets and other liabilities

^[1]

(1,209)

(600)

Other, net

^[1]

(895)

328

Net cash flows from operating activities

1,718

1,660

Cash Flows From Investing Activities:

Proceeds from sales of AFS securities

1,109

Proceeds from maturities, calls and paydowns of AFS securities

8,354

8,079

Purchases of AFS securities

(10,776)

(6,879)

Proceeds from maturities, calls and paydowns of HTM securities

1,767

1,812

Purchases of HTM securities

(795)

Originations of loans and leases, net of principal collected

(2,545)

(12,860)

Purchases of loans and leases

(206)

(668)

Sales of loans and leases

550

358

Net cash received (paid) for securities borrowed or purchased under agreements to resell

(1,231)

(106)

Other, net

(181)

Net cash flows from investing activities

(4,809)

(9,336)

Cash Flows From Financing Activities:

Net change in deposits

8,981

15,598

Net change in short-term borrowings

(951)

(12,556)

Proceeds from issuance of long-term debt

50,473

28,642

Repayment of long-term debt

(49,131)

(19,486)

Repurchase of common stock

(2,334)

(1,250)

Net proceeds from preferred stock issued

495

Cash dividends paid on common stock

(1,281)

(1,349)

Cash dividends paid on preferred stock

(138)

(164)

Other, net

(112)

(76)

Net cash flows from financing activities

6,002

9,359

Net Change in Cash and Cash Equivalents

2,911

1,683

Cash and Cash Equivalents of Continuing and Discontinued Operations, January 1

36,377

39,768

Cash and Cash Equivalents of Continuing and Discontinued Operations, June 30

39,288

41,451

Supplemental Disclosure of Cash Flow Information:

Interest expense

4,661

4,967

Income taxes

$ 97

$ 170

[1]	Prior period balances have been conformed to current period presentation.

Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets:
Cash and due from banks	$ 4,707	$ 4,967
Interest-bearing deposits with banks	34,581	31,410
Securities borrowed or purchased under agreements to resell	4,431	3,200
Trading assets at fair value	5,288	5,790
AFS securities at fair value	67,651	65,042
HTM securities (fair value of $38,145 and $39,130, respectively)	46,351	47,186
LHFS (including $2,198 and 1,622 at fair value, respectively)	2,477	1,883
Loans and leases (including $10 and $11 at fair value, respectively)	329,796	328,595
ALLL	(4,983)	(5,030)
Loans and leases, net of ALLL	324,813	323,565
Premises and equipment	3,177	3,172
Goodwill	17,125	17,125
CDI and other intangible assets	1,130	1,256
Loan servicing rights at fair value	4,293	3,972
Other assets (including $1,841 and $1,725 at fair value, respectively)	39,999	38,970
Total assets	556,023	547,538
Liabilities
Noninterest-bearing deposits	104,341	105,092
Interest-bearing deposits (including $688 and $639 at fair value, respectively)	305,038	295,306
Short-term borrowings (including $3,121 and $2,394 at fair value, respectively)	26,885	27,839
Long-term debt	42,976	41,963
Other liabilities (including $2,228 and $1,797 at fair value, respectively)	12,688	12,149
Total liabilities	491,928	482,349
Shareholders’ Equity
Preferred stock	5,411	4,916
Common stock, $5 par value	6,108	6,312
Additional paid-in capital	31,616	33,663
Retained earnings	27,676	26,067
AOCI, net of deferred income taxes	(6,716)	(5,769)
Total shareholders’ equity	64,095	65,189
Total liabilities and shareholders’ equity	$ 556,023	$ 547,538
Common shares outstanding (in shares)	1,221,626	1,262,470
Common Stock Shares Issued Not Disclosed	true
Common shares authorized (in shares)	2,000,000	2,000,000
Preferred shares outstanding (in shares)	196	176
Preferred shares authorized (in shares)	5,000	5,000