BB&T posts 1Q adjusted earnings uptick

BB&T posts 1Q adjusted earnings uptick

A decision to pay off early federal home loan advances led to a 28% decline in BB&T Corp.’s first-quarter net income to $378 million, or 46 cents per share. However, adjusted net income rose to $611 million, or 74 cents per share, beating analysts’ consensus estimate of 73 cents per share. Revenue grew 9.1% to $2.8 billion. In other developments, Winston-Salem-based BB&T says it expects to close about 100 branches this year.

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