BB&T Keeps Focus on ‘Profitable’ Prime Loans as Volume Dips, CEO Says

BB&T Corp.’s goal for the third quarter is to accelerate slowing loan growth and continue to focus on prime auto loans “at a level which improves profitability and returns,” Chairman and Chief Executive Kelly King said on Tuesday at Barclays Global Financial Services Conference. BB&T’s auto loan volumes — especially among prime borrowers — continue […]
  • Natalie Mattila
  • September 14, 2017

BB&T Boosts Subprime Portfolio 15%

Although BB&T Bank’s loan volume is declining overall, subprime outstandings grew 14.7% year over year, the lender said during its second-quarter earnings call last month. Regional Acceptance Corp. — the subprime unit of BB&T, which accounts for nearly a third of the bank’s overall book — grew its portfolio to $3.9 billion in the second […]
  • William Hoffman
  • August 16, 2017

BB&T Pursues Stabilization in 2018 Amid 2Q Volume Declines

BB&T Corp.’s auto loan volumes — especially among prime borrowers — continue to decline with the company expecting “stabilization” by 2018, according to its second-quarter earnings today. The North Carolina-based bank continues to price prime auto loans at a level that “improves profitability and returns,” which resulted in a 17.6% drop in prime auto loans compared […]
  • William Hoffman
  • July 20, 2017

McKay to Replace Ellison as Sheffield President

Sheffield Financial, a division of BB&T Corp., tapped Jeff McKay to serve as president, effective April 1, just shy of eight months after announcing Jeff Ellison will take the position.
  • Natalie Mattila
  • March 23, 2017

Sheffield Reports 33% Jump in 2Q Originations

Sheffield Financial experienced “strong loan growth” in the second quarter, with a 33% increase in loan originations from the previous quarter, according to the company’s earnings released yesterday. Loan originations grew 15% year over year in 2Q, from the same time a year prior.
  • Natalie Mattila
  • July 22, 2016

Sheffield Enlists Aggressive Financing Incentives

Sheffield Financial is delivering on its promise to offer more aggressive financing promotions in 2016. As part of its Get Excited About Nothing Sales Event, Suzuki Motor of America Inc. is offering 0% financing until 2021 on select models via its third-party lenders Sheffield and Synchrony Financial, according to the manufacturer’s website. The offer is valid through participating authorized […]
  • Natalie Mattila
  • May 2, 2016

Economy Cars Stem Higher Losses in 1Q, BB&T Exec Says

Regional Acceptance (RA) “experienced some higher loss severities” in the first quarter of 2016, according to Clarke Starnes, BB&T’s chief risk officer and senior executive vice president. RA, which primarily finances economy cars, reported net charge-offs of 8% in 1Q, up around 50 to 75 basis points versus the same quarter last year, Starnes said […]
  • Natalie Mattila
  • April 28, 2016

Top 10 CFPB Headlines of 2015

Not surprisingly, the Consumer Financial Protection Bureau dominated the headlines in 2015, for a second year running. It was another busy year for the CFPB. The bureau continued to reach numerous consent orders and level fines against various auto lenders. While Santander Consumer USA picked up the most CFPB complaints in the first half of […]
  • Larissa Padden
  • December 28, 2015

BB&T Steps on Gas in Powersports, Taps Brakes in Auto

BB&T Corp. is being more cautious in autos, but the regional bank sees powersports lending as a growth area, the company said Thursday at the BancAnalysts Association of Boston conference.    
  • Jim Henry
  • November 6, 2015

BB&T Switches to Flat Fees, Ending Dealer Markup as of July 1

BB&T Dealer Financial Services is the first Top 20 auto lender so far to switch to flat fees from dealer markup, apparently to head off potential problems with regulators over dealer discretion in setting consumer interest rates. “We’ve been testing and evaluating flat-fee products for the last two years so we believe this is a […]
  • Jim Henry
  • June 19, 2015
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