BB&T Corp. revised the amount of home equity loans it wrote off in the first quarter, saying chargeoffs were higher than what it announced this month.
However, the $143.4 billion-asset Winston-Salem, N.C., company said Monday that correcting the error had no impact on its $318 million of first-quarter earnings.
In a regulatory filing, BB&T said its gross chargeoff rate for home equity loans was 1.9% at March 31, versus the 1.09% it reported April 17.
BB&T also corrected a chart showing gross chargeoffs for all home equity products, raising the rate to 1.66%, from 1.17%, and changing the distribution among the states it serves.
