BB&T Corporation (NYSE:BBT) Files An 8-K Other Events

BB&T Corporation (NYSE:BBT) Files An 8-K Other Events

Story continues below

ITEM 8.01

Other Events
In BBT Corporation’s Annual Report on Form 10-K for the year
ended December 31, 2016, the Corporation reported its results of
operations through its business segments: Community Banking,
Residential Mortgage Banking, Dealer Financial Services,
Specialized Lending, Insurance Holdings, Financial Services and
Other Treasury and Corporate. Effective January 1, 2017, several
business activities were realigned within the segments. First,
certain client relationships with $218 million of loans and $2.0
billion of deposits were no longer included in Financial Services
and are only reported in Community Banking. Second, the Mortgage
Warehouse Lending and Domestic Factoring businesses within
Specialized Lending were moved to Residential Mortgage Banking
and Other, Treasury and Corporate, respectively. Third, the
International division was restructured with components
integrated into Community Banking and Financial Services from
Other, Treasury and Corporate.
BBT is filing this Current Report on Form 8-K to retrospectively
revise historical segment information to correspond with this new
structure. This Current Report on Form 8-K does not revise nor
restate BBTs previously reported consolidated financial
statements for any period, and all other information in the 2016
Form 10K remains unchanged and has not been otherwise updated for
events or developments that occurred subsequent to the filing of
the 2016 Form 10-K with the SEC. Beginning with the first quarter
of 2017, BBTs financial statements reflected the realignment of
its reportable segments with prior periods adjusted accordingly.
This Current Report on Form 8-K and the exhibits hereto update
the business segment information presented in the Annual Report
to the extent this information is impacted by the revised
business segment reporting methodology. Portions of the following
items from the Annual Report have been updated to reflect the
revised presentation:
Part II, Item 7. Managements Discussion and Analysis of
Financial Condition and Results of Operations (filed as
Exhibit 99.1 and incorporated herein by reference). Exhibit
99.1 also includes a Glossary of Defined Terms used
throughout the Current Report.
Part II, Item 8. Financial Statements and Supplementary Data
(filed as Exhibit 99.2 and incorporated herein by reference).
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
EXHIBIT NO.
DESCRIPTION OF EXHIBIT
Consent of PricewaterhouseCoopers LLP
99.1
Part II, Item 7. Managements Discussion and Analysis of
Financial Condition and Results of Operations and the
Glossary of Defined Terms
99.2
Part II, Item 8. Financial Statements and Supplementary
Data
101.INS
XBRL Instance Document
101.SCH
XBRL Taxonomy Extension Schema Document
101.CAL
XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB
XBRL Taxonomy Extension Label Linkbase Document
101.PRE
XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF
XBRL Taxonomy Extension Definitions Linkbase Document


About BB&T Corporation (NYSE:BBT)

BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company, and other nonbank subsidiaries. Its segments include Community Banking, which offers a range of loan and deposit products and other financial services; Residential Mortgage Banking, which retains and services mortgage loans originated by Community Banking, as well as those purchased from various correspondent originators; Dealer Financial Services, which originate loans to consumers on a prime and nonprime basis for the purchase of automobiles; Specialized Lending, which consists of business units and subsidiaries that provide finance products to consumers and businesses; Insurance Services, which provide property and casualty, employee benefits and life insurance to businesses and individuals; Financial Services, which provide asset management, corporate trust services and others, and Other, Treasury and Corporate

BB&T Corporation (NYSE:BBT) Recent Trading Information

BB&T Corporation (NYSE:BBT) closed its last trading session up +0.80 at 43.73 with 4,976,777 shares trading hands.

An ad to help with our costs