BB&T's 4th quarter EPS totals $0.75, up 6%; 2013 reflects record adjusted earnings

BB&T's 4th quarter EPS totals $0.75, upBB&T's 4th quarter EPS totals $0.75, up 6%; 2013 reflects record adjusted earnings PR Newswire WINSTON-SALEM, North Carolina, Jan. 16, 2014 BB&T Corporation (NYSE: BBT) today reported fourth quarter 2013 net income available to common shareholders of $537 million, an increase of 6.1% compared to $506 million earned in the fourth quarter of 2012. Earnings per diluted common share totaled $0.75, an increase of 5.6% compared with the fourth quarter last year. Quarterly results include an after-tax gain of $19 million from the sale of a consumer lending subsidiary. For the full year 2013, net income available to common shareholders totaled $1.6 billion, resulting in earnings per diluted share of $2.19. These results include $516 million in previously announced tax adjustments. Excluding these adjustments, BB&T's 2013 earnings represent a record $2.1 billion, up 8.5% from 2012. Fourth quarter earnings produced an annualized return on average assets of 1.31% and an annualized return on average common shareholders' equity of 10.85%. The return on average tangible common equity for the fourth quarter was 17.91%. "BB&T produced record operating results for the year and accomplished most of our strategic objectives," said Chairman and Chief Executive Officer Kelly S. King.