BB&T Expects 4Q Net Interest Margin Will Decline Compared to 3Q
October 17 2019 - 8:53AM
Dow Jones News
By Allison Prang
BB&T Corp. (BBT) is expecting its net interest margin to
decline in the last quarter of the year compared to the third
quarter.
The company said it expects its net interest margin to fall
between seven to nine basis points compared to the third
quarter.
BB&T expects fourth-quarter noninterest income to rise
between 2% and 4% year over year. It expects expenses to be flat
but to have between $60 million and $80 million in merger-related
costs and other expenses from buying SunTrust Banks Inc. (STI).
The company expects its average total loans held for investment
in the quarter will be flat compared to the third quarter. It is
expecting between 35 and 45 basis points of net charge-offs.
BB&T expects its fourth-quarter effective tax rate will be
between 20% and 21%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 17, 2019 08:38 ET (12:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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