BBT BB and T Corporation

   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)

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