8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 8-K
Current Report

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

June 27, 2006

Date of Report (Date of earliest event reported)

BB&T Corporation
(Exact name of registrant as specified in its charter)

Commission file number : 1-10853

North Carolina	56-0939887
(State of incorporation)	(I.R.S. Employer Identification No.)

200 West Second Street
Winston-Salem, North Carolina	27101
(Address of principal executive offices)	(Zip Code)

(336) 733-2000
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 1.01   Entry into a Material Definitive Agreement

     On June 27, 2006, the Board of Directors of BB&T Corporation (the “Company”) approved the 2006 Declaration of Amendment To BB&T Corporation Non-Qualified Defined Contribution Plan (the “Amendment”). This Amendment allows for the Company to make discretionary matching contributions to participant’s accounts.

      This Amendment is filed as an exhibit to this Form 8-K and the preceding summary is qualified in its entirety by reference to such exhibit.

ITEM 8.01   Other Events

     On June 27, 2006, the Board of Directors of the Company approved a new stock repurchase program (the “2006 Stock Repurchase Program”). The 2006 Stock Repurchase Program grants authority for the repurchase of up to 50 million shares of the Company’s common stock that may be acquired as needed for general corporate purposes.

      The 2006 Stock Repurchase Program replaces a plan approved in August 2003 to repurchase up to 50 million shares of BB&T’s common stock. Approximately 48.9 million shares have been repurchased pursuant to this plan. The Board also authorized the Company to repurchase the remaining shares authorized under the August 2003 Board resolution.

ITEM 9.01   Financial Statements and Exhibits.

10.1 2006 Declaration of Amendment To BB&T Corporation Non-Qualified Defined Contribution Plan

99.1 Announcement of Share Buyback Program issued June 27, 2006.

S  I  G  N  A  T  U  R  E

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                                                                                BB&T CORPORATION
                                                                                (Registrant)

                                                                                By: /S/ EDWARD D. VEST

                                                                                Edward D. Vest
                                                                                Executive Vice President and Corporate Controller
                                                                                (Principal Accounting Officer)

Date:       June 28, 2006

EX-10.1

Exhibit 10.1

2006 DECLARATION OF AMENDMENT
TO BB&T CORPORATION NON-QUALIFIED
DEFINED CONTRIBUTION PLAN

          THIS DECLARATION OF AMENDMENT, made the 27^th day of June, 2006, by BB&T Corporation (the “Company”) to the BB&T Corporation Non-Qualified Defined Contribution Plan (the “plan”).

R E C I T A L S :

                    It is deemed advisable to amend the plan to provide that the Company may make Company discretionary credits on behalf of participants in the plan.

                    NOW, THEREFORE, the plan shall be and hereby is amended, effective as of the date hereof, as follows:

1. Add the following new Section 3.4 immediately following Section 3.3:

            “3.4 Company Discretionary Credits:

            3.4.1 Amount of Company Discretionary Credits:  At the discretion of the Company and pursuant to the directions of the Company, the Committee shall credit to the Matching Account of a Participant a Company Discretionary Credit, which shall be an amount determined by the Company. The determination of which Participant or Participants shall be credited with a Company Discretionary Credit and the amount of such credit shall be determined solely by the Company.

            3.4.2 Time for Crediting Company Discretionary Credits:  The amount of Company Discretionary Credits to be credited to the Matching Account of the Participant shall be credited by the Committee to the Participant’s Matching Account at such time or times as the Committee so designates.”

                    2. Add the following new Section 2.10 immediately following Section 2.9 and renumber the remaining subsections of Section 2 accordingly:

            “2.10 ‘Company Discretionary Credits’ means the amounts credited to the Participant’s Matching Account by the Committee pursuant to the provisions of Section 3.4.”

                    3. Delete the last sentence of Section 13 and substitute therefor the following:

“No additional credits of Salary Reduction Credits, Company Matching Credits, Incentive Compensation Credits or Company Discretionary Credits shall be made to the respective separate bookkeeping accounts of a Participant following termination of the Plan, but the Account of each Participant shall continue to be adjusted as provided in Section 7 until the balance of the Account of the Participant has been fully distributed to him or his Beneficiary.

                    4. Delete the first sentence of Section 1 of Exhibit E in its entirety and substitute therefor the following:

“Pursuant to Section 7.1 of the Plan, any Salary Reduction Credits, Company Matching Credits, Incentive Compensation Credits, Company Discretionary Credits and deemed cash dividends payable with respect to Company Stock Credits which the Participant has elected to be deemed invested in the Investment Fund and which have not previously been credited to the Participant’s Fixed Rate Accounts shall be converted into Investment Fund Credits as of each Adjustment Date in the manner described in this Section 1.”

                    IN WITNESS WHEREOF, this Declaration of Amendment has been executed as of the day and year first above stated.

	BB&T CORPORATION
	By: /S/ Robert E. Greene
Attest:	Authorized Representative

/S/ M. Patricia Oliver   
       Secretary

[Corporate Seal]

2

EX-99.1

Exhibit 99.1

June 27, 2006

FOR IMMEDIATE RELEASE

Contacts:
ANALYSTS		MEDIA
Tom Nicholson	Chris Henson	Bob Denham
Executive Vice President	Sr. Exec. Vice President	Senior Vice President
Investor Relations	Chief Financial Officer	Public Relations
(336) 733-3058	(336) 733-3008	(336) 733-1002

BB&T announces share buyback program

          WINSTON-SALEM, N.C. – Acting under authority granted by its Board of Directors, BB&T Corporation (NYSE:BBT) today announced the approval of a new plan to repurchase up to 50 million shares of its common stock. It is anticipated that share repurchases pursuant to the plan will be made periodically for general corporate purposes.

          The share repurchase plan announced today replaces a plan, approved in Aug. 2003, which authorized BB&T to repurchase up to 50 million shares of its common stock for general corporate purposes. Approximately 48.9 million shares have been repurchased under the 2003 plan. The 2006 plan also authorizes the repurchase of the remaining 1.1 million shares from the 2003 plan.

          Winston-Salem, N.C.-based BB&T Corporation operates more than 1,400 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C.

          With $110 billion in assets, BB&T Corp. is the nation’s ninth largest financial holding company. More information about BB&T Corp. is available at www.BBT.com.