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BT&T Corp. delivers strong Q1 earnings following $66 billion merger with SunTrust

  • North Carolina-based company sees group revenues rise 2.11% to $2.9 billion
  • CEO Kelly King says businesses “continue to perform well”
  • BT&T and SunTrust unveiled all-stock merger in February, created sixth-biggest commercial bank in US.

BB&T Corp. (NYSE: BBT) said record insurance revenues and a wider net interest margin had contributed to better-than-expected earnings for Q1 in its latest corporate report on Thursday. The bank holding company logged $1.05 EPS, two cents higher than forecast and 11.7% up year-over-year. “We are pleased to report strong earnings of $749 million, or $0.97 per diluted common share, for the first quarter,” CEO Kelly King added. BT&T also benefited from robust loan growth and strong capital and liquidity in Q1. Shares are set to open at $49.80.