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BB&T Meets Consensus Forecast

TSC Staff

BB&T (BBT Quote) met Wall Street's expectations for the latest first quarter, as loan growth, noninterest income and the quality of the company's loan portfolios remained strong.

The bank holding company, which is based in Winston-Salem, N.C., said income, excluding nonrecurring items, totaled $243.3 million, or 59 cents a diluted share, in line with the Thomson Financial/First Call consensus estimate. BB&T earned 51 cents in the year-ago period.

Net interest income rose to $522.6 million from $515.2 million a year ago, while noninterest income came to $289.5 million, up from $239.9 million in same quarter last year.

As of March 31, BB&T had $62.1 billion in assets. Shares of BB&T rose 3 cents to $35 in recent New York Stock Exchange activity.