Agenda - BB&T InvestorRoom · BBT Peer 3 Peer 2 Peer 1 4 Year EPS CAGR 0.32 0.18 0.16 0.12 0.11 0.10 0.09 0.08 0.06 0.04 0.04 0.03 0.02 0.00 0.10 0.20 0.30 0.40 Peer 1 Peer 2 Peer

2

Agenda

BB&T Overview: A Growing Franchise

Long-Term Performance Advantage

Lower Risk Operating Model

Recent Acquisitions Provide New Opportunities

BB&T Insurance Platform

Active in Our Communities

A Thriving Culture

3

BB&T is…

A values-driven highly profitable growth organization. While we have had a very

successful merger history, our primary focus is on organic growth; nonetheless, we are

well positioned for strategic opportunities.

Our fundamental strategy is to deliver the best value proposition in our markets.

Recognizing value is a function of quality to price, our focus is on delivering high quality

client service resulting in the Perfect Client Experience.

Our over-arching purpose is to achieve our vision and mission, consistent with our

values, with the ultimate goal of maximizing shareholder returns.

4 1 Excludes home office deposits 2 Deposit Market Share data as of September 14, 2015 3 Pennsylvania state rank includes all institutions

Source: FactSet, FDIC, SNL DataSource

State # of

Branches Deposits2 State

Rank

North Carolina1 356 $ 25.7 bn

Virginia 359 $ 21.5 bn

Florida 326 $ 15.8 bn

Pennsylvania3 294 $ 15.7 bn

Georgia 161 $ 11.4 bn

Maryland 169 $ 9.6 bn

South Carolina 112 $ 7.3 bn

Texas 121 $ 6.2 bn

Kentucky 113 $ 5.7 bn

West Virginia 79 $ 5.1 bn

Alabama 88 $ 3.4 bn

Tennessee 50 $ 2.5 bn

District of Columbia 13 $ 2.0 bn

New Jersey 35 $ 1.6 bn

Indiana 2 NM

Ohio 1 NM

Total # of Branches 2,279

BB&T Corporation: A Growing Franchise

9th Largest U.S. Financial Institution2

7

7

NM

4

2

6

4

14

2

3

5

1

5

NM

5

17

5

28 Banking Regions

Local decision-making

Centralized support system

Foundation for our sales and service culture model

Premier Model for Community Banking…

…and Diverse Non-Bank Businesses

http://www.regionalacceptance.com/

6

National Market Coverage

7

Industry Leading Recognition

2015 World’s Strongest Banks:

BB&T is one of the top 15 strongest banks in the world; one of

only three in the U.S. by Bloomberg Markets Magazine

BB&T was named by Global Finance one of

The World’s Best Treasury & Cash Management

Providers in 2015 for the U.S. Regional Middle Market

Providers – Southeast region

BB&T was named the 2015 TNS Choice Awards winner

for Commercial Banking. This national award names

BB&T as the preferred provider for acquiring, developing

and retaining customers

Since 2009 BB&T has earned 143 Greenwich Excellence Awards,

more than any other bank with assets over $50 billion

-Greenwich Associates

8

Industry Leading Recognition

BB&T ranked first for Overall Customer Experience

among U.S. Retail Banking Websites for the third straight

year in the 2014 Keynote Competitive Rankings, placing first

in all four customer experience categories: brand impact,

future intent, user experience and performance

BB&T received two 2014 Monitor Awards from

Bank Monitor, winning Gold Medals in Account

Selection Tools and Online Account Opening.

The medals recognize organizations whose

online tools and features are leading the way in

key areas of online banking

Training magazine recognized BB&T as one of the World’s

Top 125 organizations for excellent training in 2015. This

marks the 14th consecutive year BB&T has received this

coveted recognition ranking No. 18 overall and No. 1 among

banks

9

Diversification Drives Revenue and Productivity

**Based on segment revenues, excluding other, treasury and corporate for period ending 03/31/2016

2.09% 1.73% 1.68%

Superior Performance…

BB&T National

Peers

Largest 4

Banks

Revenue/average assets 10-year average

2006-2015

…With Less Volatility1

0.31% 0.34%

0.40%

Revenue/average assets 10-year standard deviation

2006-2015

BB&T National

Peers

Largest 4

Banks

Data per SNL Financial and as of 12/31/2015

National peer group: CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, ZION

Largest 4 BHCs: BAC, C, JPM, WFC 1 Volatility measured as standard deviation of PPNR/Average Asset ratios

Revenue Diversification by Segment**

Community Banking 44%

Residential Mortgage

Banking 9%

Dealer Financial

Services 7%

Specialized Lending 8%

Financial Services

14%

Insurance Holdings

18%

10

Strong, Stable, Lower-Risk Earnings Relative to Peers

2%

3%

3%

4%

5%

7%

8%

8%

11%

18%

32%

36%

0% 10% 20% 30% 40%

Peer 11

Peer 10

Peer 9

Peer 8

Peer 7

Peer 6

Peer 5

Peer 4

BBT

Peer 3

Peer 2

Peer 1

4 Year EPS CAGR

0.32

0.18

0.16

0.12

0.11

0.10

0.09

0.08

0.06

0.04

0.04

0.03

0.02

0.00 0.10 0.20 0.30 0.40

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

BBT

Peer 12

4 Year Coefficient of Variation

Peers include CFG (coefficient of variation only), CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

Source: Morgan Stanley Research

11

2016 First Quarter Highlights

Net income totaled $527 million2, up 8.0% vs. 1Q15 and 20.0% vs. 4Q15

Diluted EPS totaled $0.67, flat vs. 1Q15 and up 18.9% vs. 4Q15

Revenues totaled $2.6 billion, up 10.2% vs. 1Q15 and 4.2% vs. 4Q15

Record net interest income of $1.6 billion, up 16.4% vs. 1Q15 and 6.8% vs. 4Q15

Net interest margin grew to 3.43%, up 8 bps

Efficiency improved to 58.3% compared to 58.8% in 4Q15

Noninterest expenses decreased $52 million, or 13.1% annualized

Achieved positive operating leverage

Long-Term Performance Advantage

13

Long-Term Superior Net Interest Margin

3.74%

3.52% 3.58%

3.66%

4.03% 4.06%

3.91%

3.68%

3.42%

3.32%

3.43%

3.78%

3.68%

3.42%

3.27%

3.54% 3.49%

3.43%

3.28%

3.09%

2.95% 2.99%

2.90%

3.16%

3.41%

3.67%

3.92%

4.18%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

BBT Peers

1 Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

Source: SNL Financial

1

14

Long-Term Efficiency Advantage

52.8%

51.6% 50.9%

50.2%

53.4%

56.1%

54.3%

58.5% 57.7%

58.9% 58.3%

55.6% 56.4%

60.2% 59.0%

61.1%

62.8% 62.9% 63.0% 63.2% 62.6% 62.6%

45.0%

50.0%

55.0%

60.0%

65.0%

70.0%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

BBT Peers

1 2

1 Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 2 Excludes certain items as detailed in the non-GAAP reconciliation Appendix


15

Long-Term Superior Return on Risk-Weighted Assets

1.79% 1.84%

1.46%

0.77% 0.67%

1.06%

1.54% 1.63% 1.68%

1.44% 1.38% 1.75%

1.19%

-0.41%

-0.72%

0.50%

0.97%

1.28%

0.87%

1.26% 1.20%

1.02%

-1.00%

-0.50%

0.00%

0.50%

1.00%

1.50%

2.00%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

BBT Peers1



16

Long-Term Superior Return on Average Tangible Common Equity

25.1% 27.2%

22.0%

9.7% 8.7%

12.6%

17.4% 17.5% 15.7%

14.2% 14.2%

24.0%

18.2%

-1.1%

-10.8%

4.0%

9.8%

12.5% 11.5% 11.4% 10.9%

9.6%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

BBT Peers2 1

1 Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 2 Excludes certain items as detailed in the non-GAAP reconciliation Appendix


17

Long-Term Superior Credit Quality

0.28% 0.52%

1.32%

3.15%

3.45%

2.01%

1.54%

1.29%

0.78% 0.65% 0.73%

0.35%

0.67%

1.56%

3.10% 2.87%

2.49%

2.07%

1.73%

1.33% 1.22%

1.35%

0.00%

1.00%

2.00%

3.00%

4.00%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

BBT Peers

NPA / (EOPL + ORE)


1

18

Best-in-Class Dividend Yield

Source: SNL

As of March 31, 2016

3.25% 3.12% 3.10% 3.06%

2.94%

2.72% 2.66% 2.52% 2.51%

2.41%

2.22%

1.91%

0.99%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

BBT FITB WFC RF HBAN KEY STI MTB USB PNC CMA CFG ZION

19

Total Shareholder Return

BB&T

Peer

Average1

S&P

Financials

Index

1 YEAR 10 YEAR

2.7%

-1.8%

-0.6%

-3%

-1%

2%

4%

Peer

Average1

BB&T

S&P

Financials

Index

15 YEAR

3.7%

0.7% 0.8%

0%

1%

2%

3%

4%

BB&T

Peer

Average1

S&P

Financials

Index

8.9%

5.1%

6.1%

0%

3%

6%

9%

12%

20 YEAR

BB&T

Peer

Average1

S&P

Financials

Index

1 Peers include CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, and ZION For periods ended December 31, 2015 Source: Bloomberg

(percent) (percent) (percent) (percent)

10.6%

8.8%

10.4%

0%

4%

8%

12%

5 YEAR (percent)

BB&T

Peer

Average1

S&P

Financials

Index

0.3%

-0.2%

-1.5%

-2%

-1%

0%

1%

20

Long-Term Profitability

0

10

20

30

40

BBT Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11

Profitable Quarters Over Last 10 Years

Peers include CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

1 of 3 regional banks

that did not have a net

loss during the recession

21

Among the Highest Rated Banks

BB&T has a strong risk profile

A track record of forgoing excessive growth in

overheated markets

BB&T has not been active in the leveraged loan

market

BB&T performs very well in forward-looking stress

tests

BB&T’s capital position is resilient under stress

- Even during the crisis, BB&T grew capital, largely

organically

BB&T has the second most granular loan

portfolio of the 67 banks surveyed by Moody’s

Average Peer Group Debt Ratings

Sources: Bloomberg, SNL

As of 4/25/16

Averages reflect ratings by Moody’s, S&P, Fitch, and DBRS

Moody's S&P Fitch DBRS

S&P/Fitch

Equivalent

USB A1 A+ AA AA AA-

WFC A2 A AA- AA A+

BBT A2 A- A+ AH A

PNC A3 A- A+ AH A

CMA A3 BBB+ A A A-

MTB A3 A- A AL A-

FITB Baa1 BBB+ A AL A-

STI Baa1 BBB+ A- AL A-

KEY Baa1 BBB+ A- BBBH BBB+

HBAN Baa1 BBB A- BBBH BBB+

CFG N/A BBB+ BBB+ BBBH BBB+

RF Baa3 BBB BBB BBB BBB

ZION Ba1 BBB- BBB- BBBL BBB-

http://www.google.com/imgres?imgurl=http://www.bankingdeals.com/wp-content/uploads/2009/06/zions-bank-logo.jpg&imgrefurl=http://www.bankingdeals.com/zions-bank-money-market-account-187-apy/&usg=__Ndy1mX2gTfBdkhR6ed1pAeAYdWY=&h=60&w=150&sz=3&hl=en&start=12&tbnid=lqfr5PPCC-yEbM:&tbnh=38&tbnw=96&prev=/images?q=zions+bank+logo&um=1&hl=en&safe=active&sa=N&tbs=isch:1&um=1&itbs=1

22

Minimal Energy Exposure Relative to Peers

0.5%

1.2%

1.3%

1.3%

1.8%

1.8%

1.9%

2.2%

2.4%

4.1%

6.4%

7.4%

0.0% 2.0% 4.0% 6.0% 8.0%

Peer 1

BBT

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

Percentage of Total Loans

3.3%

4.6%

5.6%

6.2%

6.4%

6.7%

7.4%

8.1%

8.5%

9.1%

9.3%

10.0%

0.0% 5.0% 10.0% 15.0%

Peer 11

Peer 10

Peer 9

Peer 8

Peer 7

Peer 6

Peer 5

Peer 4

BBT

Peer 3

Peer 2

Peer 1

Percentage of Energy Reserves

Source: Barclays and Raymond James Equity Research

Peers include CFG, CMA, FITB, HBAN, KEY, PNC, RF, STI, USB, WFC and ZION

23

Portfolio De-Risking and Re-positioning Largely Complete

Source: Y-9C via SNL, RMO Analytics and Business Intelligence. Excludes loans held for sale.

BB&T Loan Portfolio Mix Improvement Over Time

Less dependent on higher-risk portfolios

Reduced Land and Construction allocation

by 80%+ since 2007

Specialized Lending generates a strong

1.3% ROA and is growing at a fast 11.8%

CAGR over a 5 year period

Growing risk/return advantaged portfolios

24

Current Portfolio Provides a Risk/Return Advantaged Position

Source: SNL, Dodd-Frank Act Stress Test 2015: Supervisory Stress Test Methodology and Results

Peers shown include CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB and ZION

BB&T Risk / Return Positioning vs Peers

Average Return

Ave

rag

e R

isk

(Higher Return, Lower Risk)

(Lower Return, Lower Risk)

(Higher Return, Higher Risk)

(Lower Return, Higher Risk)

BBT

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

0.50%

0.75%

1.00%

1.25%

1.50%

1.75%

2.00%

2.25%

1.0% 1.5% 2.0% 2.5% 3.0%

% R

etu

rn2

01

4 A

ctu

al P

PN

R L

ess

20

14

Act

ual

Lo

ss R

ate

% Risk(Difference between FRB Severely Adverse Stress Loss Rate and 2014 Actual Loss Rate)

25

Growing Our Franchise Provides EPS Accretion and

Efficiency Improvement

Increased asset size by $30.3 billion

through acquisitions in the last 18 months

Purchased branches from Citibank;

purchased The Bank of Kentucky,

Susquehanna Bancshares and National Penn

Bancshares

Acquired Swett & Crawford (wholesale

insurance brokerage)

Adds $200 million in revenues

Acquisitions bring new opportunities and

markets

Create scale by spreading costs over a

larger base

Complement BB&T’s organic growth

Current focus: maximize returns from

recent investments in merger partners and

systems

$186.8

$222.0

$165.0

$185.0

$205.0

$225.0

2014 1Q16

M&A Drives Asset Growth

(total assets in billions)

1

1 Balances include National Penn assets as of March 31, 2016 and exclude any purchase accounting adjustments

26

Highlights

5th largest distributor of insurance products in the U.S. and 6th largest in the World1

Founded 1922

Largest insurance wholesaler in the U.S.

Largest life insurance wholesaler in the U.S.

Second largest P&C wholesaler in the U.S.

Third largest MGU network in the U.S.

Approximately $20 billion in premium volume

“Top 5 Performer” with most of our top 25 insurance partners – largest market for many

1 Source: Business Insurance Magazine, July 2015 - based on total brokerage revenue

2 Based on segment revenues, excluding other, treasury and corporate for quarter ending 12/31/2015

American Coastal was sold June 1, 2015

BB&T’s Insurance Brokerage Platform

BB&T Assurance

1%

CRC / Swett & Crawford

37%

BB&T Insurance Services

25%

McGriff 15%

AmRisc 7%

Crump Life 10%

BB&T Insurance Services of California

5%

BB&T Insurance Pro Forma Revenue by Company2

27

Insurance Holdings - Diversification of BB&T’s Revenues

Revenues are not interest sensitive, providing stability to BB&T’s revenues

Not subject to the dynamics of credit cycles – contributes to our strong CCAR stress scenarios

Provides broader product offering to clients and improves the ability to increase share of wallet” – complementary financial product, valued risk management expertise

Increases stability of BB&T’s revenues as insurance contribution has increased in recent years – commercial/corporate client penetration; Wealth/Life partnership

35% 39%

43% 40%

14% 16%

18% 17%

0%

10%

20%

30%

40%

50%

2012 2013 2014 2015

% of Core Non-Interest Income % of Core Revenue

Revenue Contribution

2012-2015

Source: Wells Fargo Equity Research

28

Active in Our Communities

Excellent Community Reinvestment Act rating

Financial education

Affordable housing

Supporting public educators

Training community economic development

Small business assistance

Minimizing our environmental impact

Green building practices/sustainable design

Effective recycling programs

Maximize use of energy efficiency

Shared expertise to improve the financial education of 185,000 students since 2010, in

partnership with EverFi through the BB&T Financial Foundations program

Since we began the BB&T Lighthouse Project in 2009, we have completed more than

7,700 community service projects, provided more than 385,000 volunteer hours, and

helped change the lives of more than 11 million people!

29

82

70

88

85

86

82

13

17

10

12

10

12

5

13

2

4

4

6

0% 20% 40% 60% 80% 100%

Overall, I am very satisfiedworking at BB&T.

I rarely consider looking fora job outside of BB&T.

I am proud to work forBB&T.

I would recommend BB&Tas an employer.

I am motivated to put forthextra effort in my job.

Associate Engagement

BB&T Enterprise Wide Associate Engagement

Favorable Neutral Unfavorable

Ba

nk

ing

In

du

str

y N

orm

64

%

The Most Engaged Associates

Source: PWC’s 2015 Employee Engagement Landscape Study

30

Value System

Revenues

Superior Shareholder

Long-term Returns

Value System

Attract / Train and

Retain the Right People

Perfect Client

Experience

Culture Matters – Values Are Consistent and Important

31

BB&T – Since 1872

Strong diversification in revenue, geography, products, and loan portfolios

Premier community banking model with diverse national businesses

Growing capital markets and corporate banking capabilities

Accelerating growth for risk/return advantaged lending platforms

Most diversified insurance platform in the industry

Strong and improving core deposit base

Focus on long-term stability driven by consistent,

conservative risk appetite

Low-risk balance sheet

Increasing capital distribution

Unique values-driven culture

Appendix

Non-GAAP Reconciliations1 Quarter

Ended

Period

Ended

Efficiency Ratio

1Q16

2015

2014

Efficiency ratio – GAAP 59.8 % 64.2 % 62.4 %

Effect of securities gains (losses), net 1.1

Effect of merger-related and restructuring charges, net (0.9) (1.7) (0.5)

Effect of mortgage loan indemnification reserves - - (0.4)

Effect of loss on sale of American Coastal - (0.2) -

Effect of mortgage reserve adjustments - - (0.3)

Effect of loss on early extinguishment of debt - (1.8) (1.3)

Effect of franchise tax adj - - 0.2

Effect of FDIC loss share accounting - - (0.2)

Effect of foreclosed property expense (0.4) (0.5) (0.4)

Effect of FHA-insured mortgage loan reserve adj - - (0.9)

Effect of amortization of intangibles (1.3) (1.1) (0.9)

Efficiency ratio – reported 58.3 % 58.9 % 57.7 %

1 BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing

operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.

Non-GAAP Reconciliations1

Period Ended

Efficiency Ratio

2013

2012

2011

2010

Efficiency ratio – GAAP 60.2% 59.3 % 66.2 % 60.2%

Effect of securities gains (losses), net 0.3 (0.1) 0.4 3.3

Effect of merger-related and restructuring charges, net (0.5) (0.7) (0.2) (0.7)

Effect of contingency reserve - - - 0.2

Effect of gain on sale of subsidiary 0.2 - - -

Effect of mortgage repurchase expense adj - (0.1) - -

Effect of losses/write-downs on NPL disposition loans - - (1.0) (0.5)

Effect of Colonial premises and equipment adj - - - 0.1

Effect of FDIC loss share accounting - 0.1 0.3 0.7

Effect of affordable housing investments write-down - (0.2) - -

Effect of foreclosed property expense (0.6) (2.7) (9.1) (8.1)

Effect of leveraged lease sale/write-downs - (0.2) (0.2) -

Effect of VISA indemnification - - (0.1) -

Effect of owned real estate adjustments (0.1) - - -

Effect of amortization of intangibles (1.0) (1.1) (1.1) (1.3)

Effect of other, net - - (0.9) (0.5)

Efficiency ratio – reported 58.5 54.3 56.1 53.4




Period Ended

Efficiency Ratio

2009

2008

2007

2006

Efficiency ratio – GAAP 55.4 % 52.0% 53.7 % 54.8 %

Effect of securities gains (losses), net 1.2 0.7 - -

Effect of merger-related and restructuring charges, net (0.4) (0.2) (0.3) (0.3)

Effect of contingency reserve (0.3) - - -

Effect of FDIC special assessment (0.8) - - -

Effect of gain on extinguishment of debt 0.5 0.5 - -

Effect of leveraged lease settlement - (0.4) - -

Effect of payroll services gain 0.2 - - -

Effect of bank-owned life insurance valuation - (0.1) - -

Effect of Visa ownership gains - 0.6 - -

Effect of fair value accounting implementation - 0.1 - -

Effect of foreclosed property expense (4.1) (1.0) - -

Effect of amortization of intangibles (1.3) (1.3) (1.5) (1.6)

Effect of amortization of mark-to-market adj - - - (0.1)

Effect of other, net (0.2) - (0.3)

Efficiency ratio – reported 50.2 50.9 51.6 52.8



Return on Tangible Common Equity

1Q16

2015

2014

2013

2012

2011

Return on Common Equity 8.45% 8.34% 9.32% 8.05% 10.36% 7.49%

Effect of intangible assets and their amortization - - - 5.56 7.03 5.13

Effect of tax-related charges 5.74 5.86 6.38 3.88 - -

Return on Tangible Common Equity 14.19% 14.20% 15.70% 17.49% 17.39% 12.62%


Period Ended



Quarter Ended

Return on Tangible Common Equity

2010

2009

2008

2007

2006

Return on Common Equity 4.93% 4.99% 11.61% 14.29% 13.35%

Effect of intangible assets and their amortization 4.08 4.66 10.42 12.95 11.70

Return on Tangible Common Equity 9.01% 9.65% 22.03% 27.24% 25.05%

Period Ended




Documents

Agenda - BB&T InvestorRoom · BBT Peer 3 Peer 2 Peer 1 4 Year EPS CAGR 0.32 0.18 0.16 0.12 0.11 0.10 0.09 0.08 0.06 0.04 0.04 0.03 0.02 0.00 0.10 0.20 0.30 0.40 Peer 1 Peer 2 Peer