TRUIST FINANCIAL CORPORATION BBT Income Statement

Truist financial corporation (BBT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Interest Income
Interest and fees on loans and leases
3,776	2,371	1,886	1,886	1,839	1,830	1,772	1,687	1,605	1,598	1,591	1,540	1,501	1,510	1,524	1,509	1,442	1,449	1,412	1,249	1,237	1,272	1,301	1,295	1,295	1,341	1,411	1,418	1,433	1,494	1,492	1,492	1,502	1,530	1,546	1,523	1,520	1,566	1,549	1,525	1,440	1,475	1,414	1,336	1,322	1,499	1,501
Interest on securities
494	402	315	300	302	292	283	294	291	286	276	272	258	226	262	286	255	237	232	232	240	237	232	234	236	220	221	215	215	222	221	230	234	235	199	163	150	185	207	291	336	341	327	299	352	287	283
Interest on other earning assets
156	39	17	20	32	14	14	13	25	14	10	12	16	9	9	10	24	9	6	8	16	9	8	8	15	5	7	10	11	10	7	6	7	4	5	4	6	4	6	3	3	4	4	5	5	7	6
Total interest income
4,426	2,812	2,218	2,206	2,173	2,136	2,069	1,994	1,921	1,898	1,877	1,824	1,775	1,745	1,795	1,805	1,721	1,695	1,650	1,489	1,493	1,518	1,541	1,537	1,546	1,566	1,639	1,643	1,659	1,726	1,720	1,728	1,743	1,769	1,750	1,690	1,676	1,755	1,762	1,819	1,779	1,820	1,745	1,640	1,679	1,793	1,790
Interest Expense
Interest on deposits
421	304	271	273	253	206	172	148	118	104	91	80	69	61	62	64	64	62	61	55	55	58	61	60	60	65	72	78	86	96	105	107	121	137	150	152	171	192	225	241	259	294	311	320	346	449	455
Interest on long-term debt
272	219	193	193	192	186	181	166	150	131	124	104	95	117	121	121	126	128	124	121	125	124	130	133	138	138	149	147	150	152	130	157	185	179	181	181	216	225	218	212	201	196	186	165	164	208	208
Interest on other borrowings
83	62	54	50	32	39	29	23	20	19	15	5	2	2	2	3	2	1	1	1	1	1	1	1	1	1	1	3	1	2	2	2	1	1	3	3	4	6	5	6	5	7	11	17	23	48	59
Total interest expense
776	585	518	516	477	431	382	337	288	254	230	189	166	180	185	188	192	191	186	177	181	183	192	194	199	204	222	228	237	250	237	266	307	317	334	336	391	423	448	459	465	497	508	502	533	705	722
Net Interest Income
3,650	2,227	1,700	1,690	1,696	1,705	1,687	1,657	1,633	1,644	1,647	1,635	1,609	1,565	1,610	1,617	1,529	1,504	1,464	1,312	1,312	1,335	1,349	1,343	1,347	1,362	1,417	1,415	1,422	1,476	1,483	1,462	1,436	1,452	1,416	1,354	1,285	1,332	1,314	1,360	1,314	1,323	1,237	1,138	1,146	1,088	1,068
Provision for credit losses
893	171	117	172	155	146	135	135	150	138	126	135	148	129	148	111	184	129	103	97	99	83	34	74	60	60	92	168	272	252	244	273	288	272	250	328	340	643	770	650	575	725	709	701	676	364	330
Net Interest Income After Provision for Credit Losses
2,757	2,056	1,583	1,518	1,541	1,559	1,552	1,522	1,483	1,506	1,521	1,500	1,461	1,436	1,462	1,506	1,345	1,375	1,361	1,215	1,213	1,252	1,315	1,269	1,287	1,302	1,325	1,247	1,150	1,224	1,239	1,189	1,148	1,180	1,166	1,026	945	689	544	710	739	598	528	437	470	724	738
Noninterest Income
Total securities gains (losses), net
-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	45	0	-2	-1	0	0	-5	0	2	5	0	23	23	0	-1	-2	-9	103	-39	-2	0	99	239	219	-3	-41	34	20	186	54	10
Noninterest income
1,961	1,398	1,303	1,352	1,202	1,235	1,239	1,222	1,180	1,225	1,166	1,220	1,171	1,162	1,164	1,130	1,016	1,015	988	1,019	997	1,022	949	958	927	1,084	905	1,046	1,001	1,020	963	966	871	922	690	787	714	964	1,110	1,039	844	970	940	993	1,031	792	827
Other nondeposit fees and commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74	63	65	-	59	53	53	47	47
FDIC loss share income, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	18	64	60	52	58	64	79	428	87	-88	-84	511	-74	-85	-59	-97	-90	-74	-57	-46	-104	-81	-58	0	-43	-78	5	-	3	-	-	-	-
Realized gains (losses), net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	-4	137	0	16	21	117	241	224	3	40	31	19	150	13	10
Noninterest Expense
Personnel expense
1,972	1,465	1,161	1,120	1,087	1,096	1,104	1,074	1,039	1,072	1,051	1,068	1,035	1,069	1,006	1,039	915	893	882	864	830	794	795	809	782	827	805	844	817	823	797	775	730	679	671	683	694	679	642	649	646	650	644	623	600	552	565
Net occupancy expense
221	15	186	184	122	-79	189	187	194	-51	198	198	193	198	203	194	191	192	183	166	167	168	170	168	176	174	177	170	171	172	166	159	153	159	151	152	154	155	157	158	138	173	149	128	129	127	124
Professional fees and outside processing
247	269	47	31	86	270	33	32	30	282	27	38	22	27	27	26	22	29	42	35	24	38	34	34	33	46	60	47	36	46	36	39	35	49	56	38	31	-72	84	86	72	-55	68	64	53	55	48
Software expense
210	118	77	71	72	70	70	67	65	-	62	57	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment expense
116	-	-	-	65	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Marketing and customer development
84	-	-	-	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease depreciation
71	-	-	-	29	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan-related expense
62	42	26	30	25	25	28	26	29	32	32	36	30	-6	33	36	32	37	38	37	38	71	65	80	51	-3	70	63	58	73	85	62	63	59	55	57	56	66	53	47	35	46	38	34	29	32	33
Amortization of intangibles
165	71	29	32	32	34	33	31	33	34	34	36	38	38	38	42	32	32	29	23	21	22	23	23	23	26	26	27	27	28	31	29	22	24	24	25	26	28	30	32	32	36	29	24	25	25	25
Outside IT services
-	-	28	29	-	-	33	32	32	-	34	39	58	19	63	53	51	52	50	46	44	133	-44	42	43	-273	39	38	38	38	36	32	32	33	30	29	26	30	28	30	29	-	-	-	-	-	-
Outside IT services
-	-	-	-	-	-	-	-	-	-	-	-	49	-	51	44	41	41	35	29	30	27	30	31	27	-	24	21	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Regulatory costs
29	24	20	19	18	18	37	39	40	38	40	36	39	42	41	32	30	28	25	25	23	24	23	30	29	33	40	35	35	35	40	43	41	46	46	59	61	59	61	46	45	47	44	106	33	8	4
Foreclosed property expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15	14	13	-	11	10	9	11	14	12	18	48	54	72	92	346	168	145	143	162	167	240	178	142	118	60	36	22	17
Merger-related and restructuring charges
107	223	34	23	80	76	18	24	28	22	47	10	36	13	43	92	23	50	77	25	13	18	7	13	8	10	4	27	5	11	43	2	12	16	0	2	-2	4	10	38	17	9	18	-1	12	5	1
Loss (gain) on early extinguishment of debt
-	-	-	-	-	-	-	-	-	0	0	0	-392	0	0	0	1	0	0	-172	0	-	-122	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense
147	-27	232	212	125	-118	197	208	196	23	220	224	210	180	206	239	209	285	218	217	219	217	215	294	204	185	212	212	209	154	241	213	205	207	216	205	183	310	176	174	149	219	212	143	152	179	142
Total noninterest expense
3,431	2,575	1,840	1,751	1,768	1,784	1,742	1,720	1,686	1,855	1,745	1,742	2,102	1,668	1,711	1,797	1,545	1,597	1,594	1,653	1,422	1,394	1,539	1,534	1,385	1,396	1,471	1,496	1,414	1,488	1,529	1,426	1,385	1,618	1,417	1,395	1,372	1,421	1,408	1,500	1,341	1,361	1,320	1,181	1,069	1,005	959
Earnings
Income before income taxes
1,287	879	1,046	1,119	975	1,010	1,049	1,024	977	876	942	978	530	930	915	839	816	793	755	581	788	880	725	693	829	990	759	797	737	756	673	729	634	484	439	418	287	232	246	249	242	207	148	249	432	511	606
Provision for income taxes
224	153	218	234	177	205	210	202	186	209	294	304	104	287	273	252	246	251	222	80	241	277	172	216	256	401	450	221	481	207	177	191	189	84	68	91	53	15	27	25	48	13	-9	41	114	149	175
Net income
1,063	726	828	885	798	805	839	822	791	667	648	674	426	643	642	587	570	542	533	501	547	603	553	477	573	589	309	576	256	549	496	538	445	400	371	327	234	217	219	224	194	194	157	208	318	362	431
Noncontrolling interests
3	5	3	-1	6	7	7	3	3	9	8	-1	5	7	0	3	6	3	4	10	22	15	4	16	40	14	4	16	16	13	2	20	14	9	5	20	9	9	9	14	6	9	5	4	6	4	3
Dividends on preferred stock
74	19	90	44	43	44	43	44	43	44	43	44	43	44	43	43	37	37	37	37	37	37	37	37	37	37	37	13	30	30	25	8	0	-	0	0	-	-	-	-	-	0	0	83	41	0	0
Net income available to common shareholders
986	702	735	842	749	754	789	775	745	614	597	631	378	592	599	541	527	502	492	454	488	551	512	424	496	538	268	547	210	506	469	510	431	391	366	307	225	208	210	210	188	185	152	121	271	358	428
Basic EPS
0.73	0.72	0.96	1.10	0.98	0.98	1.02	1.00	0.96	0.78	0.75	0.78	0.47	0.73	0.74	0.67	0.67	0.64	0.64	0.63	0.68	0.76	0.71	0.59	0.70	0.76	0.38	0.78	0.30	0.72	0.67	0.73	0.62	0.57	0.52	0.44	0.32	0.31	0.30	0.30	0.27	0.25	0.23	0.20	0.48	0.65	0.78
Diluted EPS
0.73	0.70	0.95	1.09	0.97	0.97	1.01	0.99	0.94	0.77	0.74	0.77	0.46	0.71	0.73	0.66	0.67	0.63	0.64	0.62	0.67	0.76	0.70	0.58	0.68	0.76	0.37	0.77	0.29	0.71	0.66	0.72	0.61	0.55	0.52	0.44	0.32	0.29	0.30	0.30	0.27	0.24	0.23	0.20	0.48	0.65	0.78
Cash dividends declared per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.33	0.30	0.30	-	0.30	0.28	0.27	0.00	0.27	0.27	0.24	0.00	0.24	0.24	0.23	0.00	0.23	0.23	0.23	0.00	0.20	0.20	0.20	0.00	0.16	0.16	0.17	0.00	0.15	0.15	0.15	0.00	0.15	0.15	0.47	0.47	0.46
Basic weighted average shares outstanding (in shares)
1,344	924	766	765	764	764	771	775	779	783	794	808	809	810	812	814	781	781	764	724	721	720	720	719	712	705	704	702	700	699	699	698	697	697	697	696	695	694	693	692	690	690	665	602	559	549	546,628
Diluted weighted average shares outstanding (in shares)
1,357	936	775	774	774	775	781	785	791	795	806	819	822	822	823	823	790	790	774	734	731	730	729	728	724	717	716	712	711	709	709	708	707	705	705	704	704	702	701	701	698	697	672	608	563	553	549,758
Insurance income
Noninterest income
549	509	487	566	510	487	448	481	436	418	397	481	458	419	410	465	419	380	354	422	440	409	385	422	427	371	355	426	365	362	333	393	271	254	241	299	250	249	252	287	253	260	254	281	252	232	237
Service charges on deposits
Noninterest income
305	222	188	181	171	185	183	179	165	183	179	176	168	172	172	166	154	165	167	154	145	160	164	158	150	186	152	143	138	149	142	138	137	142	141	145	135	143	147	164	164	186	180	168	156	176	172
Wealth management income
Noninterest income
332	412	71	70	162	445	71	72	72	388	68	70	68	69	68	67	62	64	63	57	56	56	56	55	54	52	51	49	48	47	46	46	45	42	43	45	43	42	40	39	38	38	36	33	32	37	38
Card and payment related fees
Noninterest income
187	278	72	77	128	309	72	72	69	297	70	75	59	60	61	60	56	56	57	55	50	52	55	54	46	11	67	65	59	61	62	59	54	55	51	52	46	47	45	45	40	41	41	39	35	38	39
Residential mortgage income
Noninterest income
245	11	112	113	49	-14	79	94	99	-2	114	94	103	107	154	111	91	104	111	130	110	128	107	86	74	100	117	168	180	231	211	182	216	135	123	83	95	138	184	110	89	142	144	184	188	83	57
Investment banking and trading income
Noninterest income
118	-44	130	131	27	-184	116	109	113	-96	103	105	91	108	101	102	97	91	105	108	94	112	95	92	88	101	89	99	94	98	90	88	89	75	81	90	87	97	85	91	79	83	89	92	82	84	88
Checkcard fees
Total noninterest income
-	-	57	59	-	-	56	57	52	-	54	54	51	50	50	50	45	47	45	43	39	41	42	42	38	8	51	51	47	49	48	45	43	42	78	79	72	73	70	70	61	62	59	57	49	52	53
Operating lease income
Noninterest income
77	47	36	35	35	35	37	36	37	37	36	37	36	34	34	35	34	33	32	30	29	-	24	20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from bank-owned life insurance
Noninterest income
44	38	29	34	28	28	27	30	31	33	28	32	29	26	35	31	31	27	29	27	30	30	28	25	27	32	27	26	28	29	30	27	30	30	33	29	30	31	30	31	31	25	24	25	23	24	25
Lending related fees
Noninterest income
67	-	-	-	25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commercial real estate related income
Noninterest income
44	-	-	-	14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securities gains (losses)
Noninterest income
-2	-116	0	0	0	2	0	1	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (loss)
Noninterest income
-5	-44	121	86	53	-92	150	91	106	-80	117	96	108	-26	97	107	42	100	85	58	83	67	85	92	105	216	70	81	78	91	92	64	52	90	42	48	14	247	-13	-2	22	288	20	42	11	6	61
Securities gains (losses), net
Gross realized gains
-	-	0	20	-	-	0	1	0	-	17	0	0	1	0	0	45	0	39	2	0	1	0	0	6	11	0	23	23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross realized losses
-	-	0	20	-	-	0	0	0	-	17	0	0	0	0	0	0	0	40	0	0	0	1	0	3	6	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OTTI charges
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	0	0	2	0	0	0	0	23	0	0	0	0	0	0	2	3	4	7	10	1	68	0	37	12	55	3	78	36	41	0
Non-credit portion recognized in OCI
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	0	1	1	0	1	4	0	-22	0	0	0	0	0	2	0	2	30	32	8	20	-62	2	-32	6	-	-	-77	-	0	0