BB&T Expects Net Interest Margin to Fall in 3Q Compared With 2Q
July 18 2019 - 8:17AM
Dow Jones News
By Allison Prang
BB&T Corp. (BBT) is expecting its net interest margin to
fall in the third quarter compared with the second quarter.
BB&T said it expects it net interest margin on both a GAAP
and core basis to fall between four and eight basis points compared
with the second quarter. It was 3.42% in the second quarter, down
from 3.51% in the first quarter and down from 3.45% the comparable
quarter a year prior.
BB&T said it expects expenses to be flat compared with the
comparable quarter a year earlier.
The company also is expecting average total loans held for
investment to fall between 4% and 6% on an annualized basis
compared with the second quarter.
BB&T expects net charge-offs as a percentage of average
loans and leases on annualized basis to be between 35 and 45 basis
points. In the second quarter, that reading was 0.38% down from
0.4% in the first quarter and up from 0.3% the comparable quarter a
year prior.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 18, 2019 08:02 ET (12:02 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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