Securities, at amortized cost
U.S. government-sponsored entities (GSE) $ 1,080
Mortgage-backed securities issued by GSE 25,137
States and political subdivisions 2,282
Non-agency mortgage-backed securities 1,543 ###
Other securities 937 ###
Trading securities 448
Total securities 31,427
Other earning assets 1,180 ###
Loans and leases
Commercial loans and leases 50,630
Direct retail loans 15,263
Sales finance loans 6,342
Revolving credit loans 1,767
Mortgage loans 16,759
Specialized lending 6,490
Total loans and leases held for investment 97,251
Loans held for sale 2,473 ###
Total loans and leases 99,724
Total earning assets 132,331
### - could part of these be toxic? Possible, not likely
So, all you trolls claiming BB&T is laoded up with TOXIC assets, where are they?
YOU claimed there were TOXIC assets. Yet, when another poster lists assets and asks anyone to identify the TOXIC ones you can't.
You are full of hot air and express unfounded opinions and when challenged to prove those opinions cannot produce. The facts are there for anyone to see.
Toxic assets or anything else that the company doesn't want anyone to know about are hidden in the complex world of accounting/bookkeeping. EX. Gov. Switzer paying $6,000 for a jump in the hay with a prostitute. Also, no one makes any noises about CEO's and upper echelon mgt making anywhere from 200 to 6000 times what some of their entry level employees make. WOW.
Clearly you have no accounting background, and know even less about bank accounting. All the categories listed by BB&T are transparent.
How the acccounting is done is straight forward. Securities/loans held for resale are Marked to Market. Mortgages and loans held for long term investments are not, losses are reserved for. As was made clear in the CC certain areas received increased reserves, but other areas where loans were stable and not defaulting faster did not.
On BB&T's balance sheet as posted here there are very few areas to hide "toxic" assets and those areas were very modest in amount - so if they were 100% toxic there is no big problem.
Try and learn and maybe you can understand a bank's balance sheet. The clear lack of knowledge of some on this board is shocking.
Switzer was a government offical not a business person. Futhermore he was independent wealthy (real estate) and could personally afford to fund his fanstaties. If you are going to include examples try and be on target.
Keep trying you broken down pickup, maybe you will get something right eventually.
Finally, BB&T management has not been eating with the pigs. Based on PERFORMANCE there have been no bonuses paid BB&T upper management in 2 years.
Still, experts said, times could be ripe for something of a shareholder revolution, given the volume of such proposals being voted on in the midst of a deep recession.
More than 400 financial institutions —- including Atlanta-based SunTrust —- will be required to hold nonbinding shareholder votes this year giving the banks’ executive pay plans a thumbs up or down. The annual ballots —- mandated by the federal stimulus package —- are a condition for receiving money under the federal government’s Troubled Asset Relief Program.
Meanwhile, activist shareholders at about 100 other companies have submitted proposals this year asking for a say-on-pay vote on executive compensation at future meetings. Those votes also are nonbinding. AJC April 19
I'm glad to hear that there are many others than just me that believe obscene pay and benefits to upper mgt is wrong and may even be criminal. There are some CEO's that receive pay and benefits in excess of 6,000 times entry level pay.
Federal minumum wage = $7.55
Full time employee, at min wage, would earn $15,080/yr***
6000 x 15080 = 90,480,000
I think I'm safe to say KK makes far less than $90 million.
***Does not count benefits such as heath insurance, FICA, etc. which can all add up to fully 40% of income.
You are absolutely correct, KK does not earn 6000 times MW. I didn't say he did. I said some CEO's. Motorola CEO last year $104+ million. This is 6900 times MW. I think KK only earns a little over 200 times MW.
Wages and bonuses for top echelon mgt should be tied to performance not for being a good ole boy.