BB&T Corp. engages in the provision of banking and trust services through its subsidiaries. It operates through the following segments: Community Banking-Retail; Community Banking-Commercial; Insurance Holdings; and Financial Services and Commercial Finance; Other, Treasury and Corporate. The Community Banking-Retail segment offers a variety of loan and deposit products, payment services, bankcard products, and other financial services. The Community Banking-Commercial segment includes commercial real estate lending, commercial and industrial lending, corporate banking, asset based-lending, dealer inventory financing, tax exempt financing, cash management and treasury services, and commercial deposit products. The Insurance Holdings segment covers property and casualty, employee benefits, and life insurance to businesses and individuals. The Financial Services and Commercial Finance segment consists of personal trust administration, estate planning, investment counseling, wealth management, asset management, corporate retirement services, capital markets and corporate banking services, corporate trust services and specialty finance products to businesses. The Other, Treasury and Corporate segment comprises of the combination of other segment that represents operating entities. The company was was founded by Alpheus Branch in 1872 and is headquartered in Winston-Salem, NC.
Noninterest income for the second quarter of 2019 was up $130 million compared to the earlier quarter. Insurance income increased $85 million to record levels due to higher production and the acquisition of Regions Insurance. Mortgage banking income increased $19 million primarily due to an increase of $28 million for net mortgage servicing rights valuation adjustments, which was partially offset by lower residential and commercial mortgage banking revenues. Investment banking and brokerage fees and commissions increased $22 million primarily due to higher revenue from investment banking transactions and higher managed account fees.