BB&T Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Announces Net Charge-Offs for the Fourth Quarter Ended December 31, 2016
For the full year, net income available to common shareholders was a record $2.3 billion, up 16.7% from 2015. Earnings per diluted share totaled $2.77 compared to $2.56 for 2015.
The company announced net charge-offs for the fourth quarter of 2016, excluding loans acquired from the FDIC and PCI, totaled $136 million, compared to $130 million for the earlier quarter. Net charge-offs during the fourth quarter totaled $151 million, up $21 million compared to the prior quarter, primarily due to higher charge-offs on acquired from FDIC and PCI loans, loan sales and seasonal increases in the retail lending portfolio, partially offset by lower commercial net charge-offs.