Profile: BB&T Corp (BBT)
27 Oct 2016
BB&T Corporation (BB&T), incorporated on September 24, 1968, is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. The Company's segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, Financial Services, and Other, Treasury and Corporate. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets, including small and mid-size businesses, public agencies, local governments and individuals through over 2,140 offices.
The Company's total loans amount to approximately $136,986 million. It offers a range of securities, which include the United States treasury, the United States government-sponsored enterprise (GSE), agency mortgage-backed securities (MBS), states and political subdivisions, non-agency MBS, securities acquired from Federal Deposit Insurance Corporation (FDIC) and other. Its total securities amount to approximately $43,827 million. Deposits are the primary source of funds for lending and investing activities. The Company's deposits include noninterest-bearing deposits, interest checking, money market and savings, time deposits and foreign office deposits-interest-bearing. Its total deposits amount to approximately $149,124 million.
Branch Bank's principal operating subsidiaries include BB&T Equipment Finance Corporation , BB&T Insurance Services, Inc., BB&T Investment Services, Inc., CRC Insurance Services, Inc., Crump Life Insurance Services, Inc., Grandbridge Real Estate Capital, LLC (Grandbridge), McGriff, Seibels & Williams, Inc., Prime Rate Premium Finance Corporation, Inc. and Susquehanna Commercial Finance, Inc. The Company's nonbank subsidiaries include BB&T Securities, LLC, Regional Acceptance Corporation and Sterling Capital Management, LLC. The Company's subsidiaries offer a range of retail and commercial services to retail and commercial clients. Its retail services include asset management, automobile lending, bankcard lending, consumer finance, home equity lending, home mortgage lending, insurance, investment brokerage services, mobile/online banking, payment solutions, retail deposit services, sales finance, small business lending and wealth management/private banking. Its commercial services include asset management, association services, capital markets services, commercial deposit services, commercial finance, commercial middle market lending, commercial mortgage lending, corporate banking, institutional trust services, insurance, insurance premium finance, international banking services, leasing, merchant services, mortgage warehouse lending, payment solutions, private equity investments, real estate lending and supply chain management.
The Company's Community Banking segment serves individual and business clients by offering a range of loan and deposit products and other financial services. It serves client relationships and includes certain revenues from the residential mortgage banking, financial services, insurance services, specialized lending and other segments.
Residential Mortgage Banking
The Company's Residential Mortgage Banking segment retains and services mortgage loans originated by Community Banking, as well as those purchased from various correspondent originators. Mortgage loan products include fixed and adjustable rate government and conventional loans for the purpose of constructing, purchasing or refinancing residential properties. BB&T retains the servicing rights to loans sold. Residential Mortgage Banking earns interest on loans held in the warehouse and portfolio and includes origination and servicing of mortgage loans.
Dealer Financial Services
The Company's Dealer Financial Services segment originates loans to consumers on a prime and nonprime basis for the purchase of automobiles. These loans are originated on an indirect basis through approved franchised and independent automobile dealers throughout the BB&T market area and through Regional Acceptance Corporation across the nation. This segment also originates loans for the purchase of boats and recreational vehicles originated through dealers in BB&T's market area. In addition, financing and servicing to dealers for their inventories is provided through a joint relationship between Dealer Financial Services and Community Banking.
The Company's Specialized Lending segment consists of business units (BUs) and subsidiaries that provide finance products to consumers and businesses. The BUs include Commercial Finance and Governmental Finance. Commercial Finance is engaged in export-import finance, accounts receivable management and credit enhancement. Commercial Finance also contains the Mortgage Warehouse Lending business, which provides short-term lending solutions to finance first-lien residential mortgage loans held for sale (LHFS) by independent mortgage companies. Governmental Finance provides tax-exempt financing for capital project needs of local governments. Its operating subsidiaries include BB&T Equipment Finance, which provides equipment leasing within BB&T's banking footprint; Sheffield Financial, a dealer-based financer of equipment for both small businesses and consumers; Prime Rate Premium Finance Corporation, Inc., which includes AFCO and CAFO, insurance premium finance BUs that provide funding to businesses in the United States and Canada, and to consumers in certain markets within BB&T's banking footprint, and Grandbridge, a commercial mortgage banking lender providing loans on a national basis.
The Company's Insurance Services segment is engaged in providing property and casualty, employee benefits and life insurance to businesses and individuals. It also provides small business and corporate services, such as workers compensation and professional liability, as well as surety coverage and title insurance.
The Company's Financial Services segment provides personal trust administration, estate planning, investment counseling, wealth management, asset management, corporate retirement services, corporate banking and corporate trust services. Financial Services also offers clients investment alternatives, including discount brokerage services, equities, fixed-rate and variable-rate annuities, mutual funds and governmental and municipal bonds through BB&T Investment Services, Inc. Financial Services include BB&T Securities, a brokerage and investment banking firm that provides services in retail brokerage, equity and debt underwriting, investment advice, corporate finance and equity research and facilitates the origination, trading and distribution of fixed-income securities and equity products in both the public and private capital markets. BB&T Securities also has a public finance department that provides investment banking services, financial advisory services and municipal bond financing to a range of regional taxable and tax-exempt issuers. Financial Services includes a group of BB&T-sponsored private equity and mezzanine investment funds that invests in privately owned middle-market operating companies. Financial Services also includes the Corporate Banking Division that originates and services corporate relationships, syndicated lending relationships and client derivatives.
Other, Treasury and Corporate
The Company's Other, Treasury and Corporate segment is the combination of the Other segment that represents the operating entities. It includes BB&T's Treasury function, which manages securities portfolios, overall balance sheet funding and liquidity, overall management of interest rate risk, and merger-related charges or credits that are incurred as part of the acquisition and conversion of acquired entities.
200 W 2nd St
WINSTON SALEM NC 27101-4019
Company Web Links
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- BRIEF-BB&T announces settlement resolving FHA-Insured mortgage issues
- BB&T to pay $83 mln to settle mortgage lending charges -Justice Department