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

January 18, 2007

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 2.02   Results of Operations and Financial Condition

            The purpose of this Current Report on Form 8-K is to furnish BB&T’s fourth quarter 2006 earnings release.

ITEM 9.01   Financial Statements and Exhibits

           Ex 99.1 Quarterly Performance Summary issued January 18, 2007

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 Controller
                                                                                (Principal Accounting Officer)

Date:       January 18, 2007

EX-99.1

January 18, 2007

FOR IMMEDIATE RELEASE

Contacts:
ANALYSTS		MEDIA
Tamera L. Gjesdal	Christopher L. Henson	Bob Denham
Senior Vice President	Senior Executive Vice President	Senior Vice President
Investor Relations	Chief Financial Officer	Corporate Communications
(336) 733-3058	(336) 733-3008	(336) 733-1475

BB&T reports 2006 net income of $1.53 billion;
Operating earnings per share total $.82 for the fourth quarter

          WINSTON-SALEM, N.C. — BB&T Corporation (NYSE: BBT) reported today earnings for the fourth quarter and the full year 2006. For the fourth quarter, net income totaled $250.8 million, or $.46 per diluted share, compared with $429.6 million, or $.78 per diluted share, earned during the fourth quarter of 2005.

          Fourth quarter net income was negatively affected by a $139.1 million after-tax charge associated with providing additional tax reserves related to leveraged lease transactions, $46.9 million in after-tax losses resulting from a previously-announced restructuring of a portion of the securities portfolio, $5.6 million in net after-tax merger-related charges and $6.5 million in after-tax equity-based compensation.

          Excluding the impact of these items, operating earnings for the fourth quarter of 2006 totaled $448.9 million, or $.82 per diluted share, compared with fourth quarter 2005 operating earnings of $425.8 million, or $.78 per diluted share, which exclude $3.8 million in net after-tax merger-related credits. 2006 operating results reflect increases of 5.4% and 5.1%, respectively, compared to the same period last year.

          For the full year 2006, BB&T’s net income was $1.53 billion compared to $1.65 billion earned in 2005. Diluted earnings per share for 2006 totaled $2.81, a decrease of 6.3% compared to $3.00 earned in 2005. Excluding net after-tax merger-related charges or credits, equity-based compensation and nonrecurring items from 2006 and 2005, operating earnings for 2006 totaled $1.74 billion, an increase of 4.1% compared to operating earnings of $1.67 billion in 2005. Diluted operating earnings per share totaled $3.20 in 2006, an increase of 5.3% compared to $3.04 earned in 2005.

          Cash basis operating results exclude the unamortized balances of intangibles from assets and shareholders’ equity, and exclude the amortization of intangibles, the net amortization of purchase accounting mark-to-market adjustments, merger-related charges or credits, equity-based compensation and nonrecurring items from earnings. Cash basis operating earnings totaled $467.1 million for the fourth quarter of 2006, an increase of 4.1% compared to the fourth quarter of 2005. Cash basis operating diluted earnings per share totaled $.85 for the fourth quarter of 2006, an increase of 3.7% compared to $.82 earned during the same period in 2005. Cash basis operating earnings for the fourth quarter of 2006 produced annualized returns on average tangible assets and average tangible shareholders’ equity of 1.63% and 27.87%, respectively, compared to prior year returns of 1.73% and 27.88%, respectively.

          “I am pleased to report strong operating results for the fourth quarter of 2006,” said Chairman and Chief Executive Officer John A. Allison. “2006 operating results represent the 25th consecutive year that BB&T has achieved record operating earnings. I am particularly pleased with our core trends in light of the difficult interest rate environment and slowing real estate market. Our performance reflects solid production from our lending and deposit gathering efforts, as well as healthy growth in many of our fee income producing businesses.

          “We are disappointed by the unexpected court ruling related to our lawsuit against the Internal Revenue Service that was issued early this month. While we disagree with the judge’s decision, we are required to record additional reserves in the fourth quarter. Even so, our core trends are positive and, on an operating basis, the fourth quarter is the most profitable in our history.”

Client Deposits Grow 13.5% Compared to Last Year

          BB&T’s deposit gathering efforts continued to be successful during the fourth quarter, as average client deposits increased 13.5% compared to the fourth quarter last year. Average total client deposits were $72.9 billion for the fourth quarter of 2006 compared to $64.2 billion for the same period of 2005. Total average deposits for the fourth quarter were $79.9 billion, an increase of 9.5% compared to $72.9 billion for the fourth quarter of 2005. During the year, BB&T generated approximately 122,000 net new transaction deposit accounts.

BB&T Continues to Enjoy Strong Loan Growth - Up 11.3% for the Quarter

          Average loans and leases totaled $82.7 billion for the fourth quarter of 2006, reflecting an increase of $8.4 billion, or 11.3%, compared to the fourth quarter of 2005. This increase was composed of growth in average commercial loans and leases, which increased $4.5 billion, or 12.5%; average mortgage loans, which increased $1.7 billion, or 11.9%; average consumer loans, which increased $1.3 billion, or 6.2%; and growth in average loans originated by BB&T’s specialized lending subsidiaries, which increased $823.4 million, or 30.0%, compared to the fourth quarter last year.

BB&T’s Fee Based Businesses Produce Solid Quarterly Growth Rates

          Noninterest income, excluding securities gains and losses, increased $56.2 million, or 9.1%, during the fourth quarter of 2006 compared to 2005. These increases include higher revenues from BB&T’s insurance operations and other nondeposit fees and commissions, as well as solid performances from BB&T’s investment banking and brokerage operations and trust operations while revenues from service charges on deposit accounts and mortgage banking operations decreased slightly during the quarter.

          Commissions from BB&T’s insurance operations increased 8.7% to a record $214.5 million in the current quarter compared with $197.4 million earned in the fourth quarter of 2005. This increase was the result of growth in commissions from the sale of property and casualty coverage, and improved sales of employee benefits-related insurance products.

          Other nondeposit fees and commissions totaled $115.6 million for the fourth quarter of 2006, an increase of 15.4% compared to the fourth quarter of 2005. This increase was generated primarily by growth in debit card related services.

          BB&T’s investment banking and brokerage operations enjoyed a solid quarter as fees increased 7.6% to $75.0 million compared to $69.7 million earned in the same quarter last year. This increase was primarily driven by growth in revenues at Scott & Stringfellow.

          Trust revenues increased 6.8% to $39.5 million in the fourth quarter of 2006 compared with $36.9 million earned in the fourth quarter of 2005. This increase was primarily attributable to improved performance from the wealth management division.

Asset Quality Remains Excellent

          BB&T continued to enjoy very healthy asset quality during the fourth quarter. Nonperforming assets, as a percentage of total assets, were .29% at Dec. 31, 2006, compared to .28% at Sept. 30, 2006, and .27% at Dec. 31, 2005. Annualized net charge-offs were .33% of average loans and leases for the fourth quarter of 2006, down from .37% in the fourth quarter of 2005. Excluding losses incurred by BB&T’s specialized lending subsidiaries, annualized net charge-offs for the current quarter were .18% of average loans and leases compared to .25% in the same quarter last year.

BB&T Completes Securities Restructuring

          During the fourth quarter of 2006, BB&T restructured a portion of its securities portfolio. The restructuring resulted in the sale of approximately $2.5 billion of securities available for sale at an aggregate pre-tax loss of $74.5 million, or $.09 per diluted share on an after-tax basis. BB&T has replaced substantially all of the assets sold with higher-yielding securities and expects to recover the $74.5 million loss through higher earnings by the end of 2007.

Income Taxes

          On Jan. 4, the United States District Court for the Middle District of North Carolina issued a summary judgment in favor of the Internal Revenue Service related to BB&T Corporation’s treatment of a leveraged lease transaction entered into in 1997. BB&T filed the lawsuit to pursue a refund of $3.3 million in taxes plus interest. BB&T’s management disagrees with the decision and intends to appeal the matter to the United States Appeals Court for the Fourth Circuit, based in Richmond, Virginia.

          Due to the timing of the District Court’s ruling and its potential impact on BB&T's other leveraged lease transactions, BB&T recorded additional tax reserves totaling $139.1 million, after-tax, in the fourth quarter of 2006.

BB&T Expands Presence in Excellent Markets - Acquires Coastal Financial Corporation

          On Dec. 21, 2006, BB&T announced plans to acquire Coastal Financial Corporation of Myrtle Beach, S.C. for $394.6 million in stock. The merger would give BB&T the No. 1 deposit market share in the thriving metro Myrtle Beach, S.C. market. With $1.7 billion in assets, Coastal Financial operates 17 banking offices in the greater Myrtle Beach area and seven in greater Wilmington, N.C., where BB&T already has the No. 1 market share. The merger, which is subject to regulatory and shareholder approval, is expected to be completed in the second quarter of 2007.

          At Dec. 31, 2006, BB&T had $121.4 billion in assets and operated 1,459 banking offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. BB&T's common stock is traded on the New York Stock Exchange under the trading symbol BBT. The closing price of BB&T's common stock on Jan. 17 was $42.74 per share.

          For additional information about BB&T's financial performance, company news, products and services, please visit our Web site at www.BBT.com.

Earnings Webcast

          To hear a live webcast of BB&T's fourth quarter 2006 earnings conference call at 11:00 a.m. (EST) today, please visit our Web site at www.BBT.com. Replays of the conference call will be available through our Web site until 5 p.m. (EST) on Friday, Feb. 2.

#

           This press release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). BB&T's management uses these “non-GAAP” measures in their analysis of the Corporation’s performance. Non-GAAP measures typically adjust GAAP performance measures to exclude the effects of charges, expenses and gains related to the consummation of mergers and acquisitions, and costs related to the integration of merged entities, as well as the amortization of intangibles and purchase accounting mark-to-market adjustments in the case of “cash basis” performance measures. These non-GAAP measures also exclude equity-based compensation in order to make the 2006 results comparable with prior periods presented and may also exclude other significant gains, losses or expenses that are unusual in nature and not expected to recur. Since these items and their impact on BB&T's performance are difficult to predict, management believes presentations of financial measures excluding the impact of these items provide useful supplemental information that is important for a proper understanding of the operating results of BB&T's core businesses. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

           This press release contains certain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results may differ materially from current projections. Please refer to BB&T's filings with the Securities and Exchange Commission for a summary of important factors that may affect BB&T's forward-looking statements. BB&T undertakes no obligation to revise these statements following the date of this press release.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 5	Investor Relations	FAX (336) 733-3132

	For the Three Months Ended						Increase (Decrease)
(Dollars in thousands, except per share data)	12/31/06			12/31/05			$		%
OPERATING EARNINGS STATEMENTS (1)
Interest income - taxable equivalent	$	1,888,151		$	1,520,417		$	367,734		24.2	%
Interest expense		910,319			599,484			310,835		51.9
Net interest income - taxable equivalent		977,832			920,933			56,899		6.2
Less: Taxable equivalent adjustment		22,213			21,200			1,013		4.8
Net interest income		955,619			899,733			55,886		6.2
Provision for credit losses		72,727			69,329			3,398		4.9
Net interest income after provision for credit losses		882,892			830,404			52,488		6.3
Noninterest income		676,619			618,962			57,657		9.3
Noninterest expense		902,163			823,987			78,176		9.5
Operating earnings before income taxes		657,348			625,379			31,969		5.1
Provision for income taxes		208,428			199,576			8,852		4.4
Operating earnings (1)	$	448,920		$	425,803		$	23,117		5.4	%
PER SHARE DATA BASED ON OPERATING EARNINGS (1)
Basic earnings	$	.83		$	.78		$	.05		6.4	%
Diluted earnings		.82			.78			.04		5.1
Weighted average shares -        Basic		540,807,172			543,879,921
Diluted		546,618,368			548,607,865
Dividends paid per share	$	.42		$	.38		$	.04		10.5	%
PERFORMANCE RATIOS BASED ON OPERATING EARNINGS (1)
Return on average assets		1.50	%		1.57	%
Return on average equity		14.92			15.18
Net yield on earning assets (taxable equivalent)		3.70			3.82
Efficiency ratio (taxable equivalent) (2)		54.1			53.0
CASH BASIS PERFORMANCE
BASED ON OPERATING EARNINGS (1)(3)
Cash basis operating earnings	$	467,106		$	448,866		$	18,240		4.1	%
Diluted earnings per share		.85			.82			.03		3.7
Return on average tangible assets		1.63	%		1.73	%
Return on average tangible equity		27.87			27.88
Efficiency ratio (taxable equivalent) (2)		52.4			50.9

	For the Three Months Ended						Increase (Decrease)
(Dollars in thousands, except per share data)	12/31/06			12/31/05			$			%
INCOME STATEMENTS
Interest income	$	1,865,926		$	1,499,217		$	366,709			24.5	%
Interest expense		910,307			599,484			310,823			51.8
Net interest income		955,619			899,733			55,886			6.2
Provision for credit losses		72,727			69,329			3,398			4.9
Net interest income after provision for credit losses		882,892			830,404			52,488			6.3
Noninterest income		602,103			618,962			(16,859	)		(2.7	)
Noninterest expense		921,834			818,031			103,803			12.7
Income before income taxes		563,161			631,335			(68,174	)		(10.8	)
Provision for income taxes		312,332			201,761			110,571			54.8
Net income	$	250,829		$	429,574		$	(178,745	)		(41.6	) %
PER SHARE DATA
Basic earnings	$	.46		$	.79		$	(.33	)		(41.8	) %
Diluted earnings		.46			.78			(.32	)		(41.0	)
Weighted average shares -        Basic		540,807,172			543,879,921
Diluted		546,618,368			548,607,865
PERFORMANCE RATIOS BASED ON NET INCOME
Return on average assets		.84	%		1.58	%
Return on average equity		8.33			15.32
Efficiency ratio (taxable equivalent) (2)		55.3			52.6

NOTES: Applicable ratios are annualized.

(1) Operating earnings exclude the effect of merger-related charges or credits, equity-based compensation and nonrecurring items. These amounts totaled $198.1 million and $(3.8 million), net of tax, in the fourth quarters of 2006 and 2005, respectively. See Reconciliation Tables included herein.

(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage servicing rights-related derivatives. Cash basis and operating ratios also exclude merger-related charges or credits, equity-based compensation and nonrecurring items, where applicable. See Reconciliation Tables included herein.

(3) Cash basis performance information excludes the effect on earnings of amortization expense applicable to intangible assets, the unamortized balances of intangibles from assets and equity, and the net amortization of purchase accounting mark-to-market adjustments. See Reconciliation Tables included herein.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 6	Investor Relations	FAX (336) 733-3132

	For the Twelve Months Ended						Increase (Decrease)
(Dollars in thousands, except per share data)	12/31/06			12/31/05			$		%
OPERATING EARNINGS STATEMENTS (1)
Interest income - taxable equivalent	$	6,981,269		$	5,588,499		$	1,392,770		24.9	%
Interest expense		3,185,386			1,980,969			1,204,417		60.8
Net interest income - taxable equivalent		3,795,883			3,607,530			188,353		5.2
Less: Taxable equivalent adjustment		87,655			82,657			4,998		6.0
Net interest income		3,708,228			3,524,873			183,355		5.2
Provision for credit losses		240,366			217,263			23,103		10.6
Net interest income after provision for credit losses		3,467,862			3,307,610			160,252		4.8
Noninterest income		2,595,673			2,324,605			271,068		11.7
Noninterest expense		3,468,647			3,133,284			335,363		10.7
Operating earnings before income taxes		2,594,888			2,498,931			95,957		3.8
Provision for income taxes		852,199			825,320			26,879		3.3
Operating earnings (1)	$	1,742,689		$	1,673,611		$	69,078		4.1	%
PER SHARE DATA BASED ON OPERATING EARNINGS (1)
Basic earnings	$	3.23		$	3.06		$	.17		5.6	%
Diluted earnings		3.20			3.04			.16		5.3
Weighted average shares -       Basic		539,140,045			546,916,414
Diluted		543,890,512			551,379,604
Dividends paid per share	$	1.60		$	1.46		$	.14		9.6	%
PERFORMANCE RATIOS BASED ON OPERATING EARNINGS (1)
Return on average assets		1.52	%		1.60	%
Return on average equity		15.22			15.12
Net yield on earning assets (taxable equivalent)		3.74			3.89
Noninterest income as a percentage of
total income (taxable equivalent) (2)		40.6			39.1
Efficiency ratio (taxable equivalent) (2)		54.0			52.5
CASH BASIS PERFORMANCE
BASED ON OPERATING EARNINGS (1)(3)
Cash basis operating earnings	$	1,816,127		$	1,763,004		$	53,123		3.0	%
Diluted earnings per share		3.34			3.20			.14		4.4
Return on average tangible assets		1.66	%		1.77	%
Return on average tangible equity		28.44			27.82
Efficiency ratio (taxable equivalent) (2)		52.3			50.4

	For the Twelve Months Ended						Increase (Decrease)
(Dollars in thousands, except per share data)	12/31/06			12/31/05			$			%
INCOME STATEMENTS
Interest income	$	6,893,602		$	5,505,842		$	1,387,760			25.2	%
Interest expense		3,185,374			1,980,969			1,204,405			60.8
Net interest income		3,708,228			3,524,873			183,355			5.2
Provision for credit losses		240,366			217,263			23,103			10.6
Net interest income after provision for credit losses		3,467,862			3,307,610			160,252			4.8
Noninterest income		2,521,157			2,325,622			195,535			8.4
Noninterest expense		3,516,102			3,166,501			349,601			11.0
Income before income taxes		2,472,917			2,466,731			6,186			.3
Provision for income taxes		944,447			812,962			131,485			16.2
Net income	$	1,528,470		$	1,653,769		$	(125,299	)		(7.6	) %
PER SHARE DATA
Basic earnings	$	2.84		$	3.02		$	(.18	)		(6.0	) %
Diluted earnings		2.81			3.00			(.19	)		(6.3	)
Weighted average shares -        Basic		539,140,045			546,916,414
Diluted		543,890,512			551,379,604
PERFORMANCE RATIOS BASED ON NET INCOME
Return on average assets		1.34	%		1.58	%
Return on average equity		13.35			14.95
Efficiency ratio (taxable equivalent) (2)		54.8			53.1

NOTES: Applicable ratios are annualized.

(1) Operating earnings exclude the effect of merger-related charges or credits, equity-based compensation and nonrecurring items. These amounts totaled $214.2 million and $19.8 million, net of tax, in 2006 and 2005, respectively. See Reconciliation Tables included herein.

(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage servicing rights-related derivatives. Cash basis and operating ratios also exclude merger-related charges or credits, equity-based compensation and nonrecurring items, where applicable. See Reconciliation Tables included herein.

(3) Cash basis performance information excludes the effect on earnings of amortization expense applicable to intangible assets, the unamortized balances of intangibles from assets and equity, and the net amortization of purchase accounting mark-to-market adjustments. See Reconciliation Tables included herein.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 7	Investor Relations	FAX (336) 733-3132

	As of / For the Twelve Months Ended				Increase (Decrease)
(Dollars in thousands)	12/31/06		12/31/05		$			%
CONSOLIDATED BALANCE SHEETS
End of period balances
Cash and due from banks	$	2,067,833	$	2,185,571	$	(117,738	)		(5.4	) %
Interest-bearing deposits with banks		543,509		410,380		133,129			32.4
Federal funds sold and other earning assets		282,798		320,439		(37,641	)		(11.7	)
Securities available for sale		20,721,027		19,782,966		938,061			4.7
Trading securities		2,146,713		706,518		1,440,195			203.8
Total securities		22,867,740		20,489,484		2,378,256			11.6
Commercial loans and leases		41,300,358		36,615,085		4,685,273			12.8
Direct retail loans		15,312,041		14,452,518		859,523			5.9
Sales finance loans		5,682,700		5,264,088		418,612			8.0
Revolving credit loans		1,414,010		1,347,309		66,701			5.0
Mortgage loans		16,256,766		14,481,561		1,775,205			12.3
Specialized lending		3,625,063		2,862,927		762,136			26.6
Total loans and leases		83,590,938		75,023,488		8,567,450			11.4
Allowance for loan and lease losses		888,130		825,300		62,830			7.6
Total earning assets		107,676,225		96,777,005		10,899,220			11.3
Premises and equipment, net		1,410,196		1,286,909		123,287			9.6
Goodwill		4,827,078		4,255,998		571,080			13.4
Core deposit and other intangibles		454,451		487,525		(33,074	)		(6.8	)
Other assets		6,194,652		5,535,265		659,387			11.9
Total assets		121,351,065		109,169,759		12,181,306			11.2
Noninterest-bearing deposits		13,393,254		13,476,939		(83,685	)		(.6	)
Interest checking		1,333,036		1,426,715		(93,679	)		(6.6	)
Other client deposits		34,062,454		30,959,888		3,102,566			10.0
Client certificates of deposit		24,986,519		19,309,667		5,676,852			29.4
Other interest-bearing deposits		7,196,315		9,108,590		(1,912,275	)		(21.0	)
Total deposits		80,971,578		74,281,799		6,689,779			9.0
Fed funds purchased, repos and other borrowings		8,087,009		6,561,719		1,525,290			23.2
Long-term debt		15,903,756		13,118,559		2,785,197			21.2
Total interest-bearing liabilities		91,569,089		80,485,138		11,083,951			13.8
Other liabilities		4,644,160		4,078,568		565,592			13.9
Total liabilities		109,606,503		98,040,645		11,565,858			11.8
Total shareholders' equity	$	11,744,562	$	11,129,114	$	615,448			5.5	%
Average balances
Securities, at amortized cost	$	21,348,247	$	20,467,160	$	881,087			4.3	%
Commercial loans and leases		38,965,374		34,997,432		3,967,942			11.3
Direct retail loans		14,904,385		14,033,773		870,612			6.2
Sales finance loans		5,384,615		5,215,444		169,171			3.2
Revolving credit loans		1,331,491		1,272,718		58,773			4.6
Mortgage loans		15,482,219		13,451,128		2,031,091			15.1
Specialized lending		3,245,212		2,546,813		698,399			27.4
Total loans and leases		79,313,296		71,517,308		7,795,988			10.9
Allowance for loan and lease losses		863,097		813,206		49,891			6.1
Other earning assets		910,680		718,325		192,355			26.8
Total earning assets		101,572,223		92,702,793		8,869,430			9.6
Total assets		114,327,580		104,611,882		9,715,698			9.3
Noninterest-bearing deposits		13,218,167		12,878,120		340,047			2.6
Interest checking		2,164,168		1,797,147		367,021			20.4
Other client deposits		31,462,213		29,813,549		1,648,664			5.5
Client certificates of deposit		22,563,522		17,969,234		4,594,288			25.6
Other interest-bearing deposits		7,822,120		7,888,309		(66,189	)		(.8	)
Total deposits		77,230,190		70,346,359		6,883,831			9.8
Fed funds purchased, repos and other borrowings		7,005,798		7,385,826		(380,028	)		(5.1	)
Long-term debt		14,627,849		11,958,681		2,669,168			22.3
Total interest-bearing liabilities		85,645,670		76,812,746		8,832,924			11.5
Total shareholders' equity	$	11,451,516	$	11,065,493	$	386,023			3.5	%

	As of / For the Quarter Ended
(Dollars in thousands, except per share data)	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
MISCELLANEOUS INFORMATION
Unrealized depreciation on
securities available for sale, net of tax	$	(248,859	)	$	(312,735	)	$	(535,078	)	$	(449,770	)	$	(337,578	)
Derivatives (notional value)		23,097,039			25,054,319			24,282,135			21,133,941			23,679,972
Fair value of derivatives portfolio		(44,687	)		(25,763	)		(215,469	)		(134,558	)		(10,600	)
Common stock prices:                               High		44.74			44.54			43.46			42.85			43.92
Low		42.48			39.87			39.09			38.24			37.39
End of period		43.93			43.78			41.59			39.20			41.91
Weighted average shares -                       Basic		540,807,172			538,911,074			536,882,392			539,952,669			543,879,921
Diluted		546,618,368			544,285,889			541,607,530			543,435,830			548,607,865
End of period shares outstanding		541,475,305			540,652,126			536,895,965			535,588,093			543,102,080
End of period banking offices		1,459			1,462			1,443			1,409			1,404
ATMs		2,125			2,106			2,057			1,964			1,951
FTEs		29,344			29,112			29,016			28,300			27,745

NOTES: All items referring to loans and leases include loans held for sale and are net of unearned income.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 8	Investor Relations	FAX (336) 733-3132

	As of / For the Quarter Ended
(Dollars in thousands, except per share data)	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
OPERATING EARNINGS STATEMENTS (1)
Interest income - taxable equivalent
Interest and fees on loans and leases	$	1,608,773		$	1,571,500		$	1,452,022		$	1,341,049		$	1,290,568
Interest and dividends on securities		255,230			242,925			228,204			229,743			223,240
Interest on short-term investments		24,148			10,233			10,222			7,220			6,609
Total interest income - taxable equivalent		1,888,151			1,824,658			1,690,448			1,578,012			1,520,417
Interest expense
Interest on deposits		616,566			585,115			497,238			438,420			387,763
Interest on fed funds purchased, repos and other borrowings		80,784			74,974			80,560			65,081			65,371
Interest on long-term debt		212,969			204,514			174,048			155,117			146,350
Total interest expense		910,319			864,603			751,846			658,618			599,484
Net interest income - taxable equivalent		977,832			960,055			938,602			919,394			920,933
Less: Taxable equivalent adjustment		22,213			22,267			21,833			21,342			21,200
Net interest income		955,619			937,788			916,769			898,052			899,733
Provision for credit losses		72,727			62,336			57,732			47,571			69,329
Net interest income after provision for
credit losses		882,892			875,452			859,037			850,481			830,404
Noninterest income
Insurance commissions		214,496			207,799			214,087			176,512			197,372
Service charges on deposits		140,811			137,950			138,112			131,241			141,645
Other nondeposit fees and commissions		115,585			114,952			111,489			101,635			100,157
Investment banking and brokerage fees and commissions		74,966			82,698			78,220			81,311			69,682
Trust revenue		39,477			39,699			37,739			37,020			36,949
Mortgage banking income		24,392			22,616			29,128			32,295			25,357
Securities gains (losses), net		1,342			179			153			2			(81	)
Other noninterest income		65,550			54,289			41,749			48,179			47,881
Total noninterest income		676,619			660,182			650,677			608,195			618,962
Noninterest expense
Personnel expense		522,807			513,539			495,454			487,467			468,098
Occupancy and equipment expense		117,698			113,808			109,707			107,785			112,018
Foreclosed property expense		5,924			4,490			3,929			3,912			5,809
Amortization of intangibles		27,018			26,776			25,225			25,108			29,054
Other noninterest expense		228,716			236,166			213,559			199,559			209,008
Total noninterest expense		902,163			894,779			847,874			823,831			823,987
Operating earnings before income taxes		657,348			640,855			661,840			634,845			625,379
Provision for income taxes		208,428			211,102			225,513			207,156			199,576
Operating earnings (1)	$	448,920		$	429,753		$	436,327		$	427,689		$	425,803
PER SHARE DATA BASED ON
OPERATING EARNINGS (1)
Basic earnings	$	.83		$	.80		$	.81		$	.79		$	.78
Diluted earnings		.82			.79			.81			.79			.78
Dividends paid per share		.42			.42			.38			.38			.38
PERFORMANCE RATIOS BASED ON
OPERATING EARNINGS (1)
Return on average assets		1.50	%		1.46	%		1.56	%		1.59	%		1.57	%
Return on average equity		14.92			14.83			15.60			15.58			15.18
Net yield on earning assets (taxable equivalent)		3.70			3.68			3.76			3.82			3.82
Efficiency ratio (taxable equivalent) (2)		54.1			54.9			53.2			53.8			53.0
Noninterest income as a percentage of
total income (taxable equivalent) (2)		40.9			40.8			40.8			39.7			40.3
Average earning assets as a percentage of
average total assets		88.6			88.8			89.0			89.0			88.9
Average loans and leases as a percentage of
average deposits		103.5			102.4			103.1			101.7			101.9
CASH BASIS PERFORMANCE BASED ON
OPERATING EARNINGS (1) (3)
Cash basis operating earnings	$	467,106		$	447,598		$	454,775		$	446,648		$	448,866
Diluted earnings per share		.85			.82			.84			.82			.82
Return on average tangible assets		1.63	%		1.59	%		1.70	%		1.74	%		1.73	%
Return on average tangible equity		27.87			28.53			28.96			28.41			27.88
Efficiency ratio (taxable equivalent) (2)		52.4			53.2			51.5			52.0			50.9

NOTES: Applicable ratios are annualized.

(1) Operating earnings exclude the effect of merger-related charges or credits, equity-based compensation and nonrecurring items. These amounts totaled $198.1 million, $12.7 million, $7.2 million, $(3.8 million) and $(3.8 million) net of tax, for the quarters ended December 31, 2006, September 30, 2006, June 30, 2006, March 31, 2006, and December 31, 2005, respectively. See Reconciliation Tables included herein.

(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage servicing rights-related derivatives. Cash basis and operating ratios also exclude merger-related charges or credits, equity-based compensation and nonrecurring items, where applicable. See Reconciliation Tables included herein.

(3) Cash basis operating performance information excludes the effect on earnings of amortization expense applicable to intangible assets, the unamortized balances of intangibles from assets and equity, and the net amortization of purchase accounting mark-to-market adjustments. See Reconciliation Tables included herein.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 9	Investor Relations	FAX (336) 733-3132

	As of / For the Quarter Ended
(Dollars in thousands, except per share data)	12/31/06			9/30/06		6/30/06		3/31/06			12/31/05
INCOME STATEMENTS
Interest income
Interest and fees on loans and leases	$	1,600,095		$	1,563,071	$	1,443,972	$	1,333,545		$	1,283,225
Interest and dividends on securities		241,683			229,087		214,421		215,905			209,383
Interest on short-term investments		24,148			10,233		10,222		7,220			6,609
Total interest income		1,865,926			1,802,391		1,668,615		1,556,670			1,499,217
Interest expense
Interest on deposits		616,566			585,115		497,238		438,420			387,763
Interest on fed funds purchased, repos and other borrowings		80,772			74,974		80,560		65,081			65,371
Interest on long-term debt		212,969			204,514		174,048		155,117			146,350
Total interest expense		910,307			864,603		751,846		658,618			599,484
Net interest income		955,619			937,788		916,769		898,052			899,733
Provision for credit losses		72,727			62,336		57,732		47,571			69,329
Net interest income after provision for
credit losses		882,892			875,452		859,037		850,481			830,404
Noninterest income
Insurance commissions		214,496			207,799		214,087		176,512			197,372
Service charges on deposits		140,811			137,950		138,112		131,241			141,645
Other nondeposit fees and commissions		115,585			114,952		111,489		101,635			100,157
Investment banking and brokerage fees and commissions		74,966			82,698		78,220		81,311			69,682
Trust revenue		39,477			39,699		37,739		37,020			36,949
Mortgage banking income		24,392			22,616		29,128		32,295			25,357
Securities gains (losses), net		(73,174	)		179		153		2			(81	)
Other noninterest income		65,550			54,289		41,749		48,179			47,881
Total noninterest income		602,103			660,182		650,677		608,195			618,962
Noninterest expense
Personnel expense		522,807			513,539		495,454		487,467			468,098
Equity-based compensation		10,537			10,601		10,104		26,532			—
Occupancy and equipment expense		117,698			113,808		109,707		107,785			112,018
Foreclosed property expense		5,924			4,490		3,929		3,912			5,809
Amortization of intangibles		27,018			26,776		25,225		25,108			29,054
Merger-related and restructuring charges (credits), net		9,134			10,098		1,631		(2,976	)		(5,956	)
Other noninterest expense		228,716			236,166		213,559		171,353			209,008
Total noninterest expense		921,834			915,478		859,609		819,181			818,031
Income before income taxes		563,161			620,156		650,105		639,495			631,335
Provision for income taxes		312,332			203,128		221,005		207,982			201,761
Net income	$	250,829		$	417,028	$	429,100	$	431,513		$	429,574
PER SHARE DATA
Basic earnings	$	.46		$	.77	$	.80	$	.80		$	.79
Diluted earnings		.46			.77		.79		.79			.78

	For the Quarter Ended
	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
ANNUALIZED INTEREST YIELDS / RATES (1)
Interest income:
Securities:
U.S. Treasury securities		4.48	%		3.72	%		3.19	%		3.11	%		2.95	%
U.S. government-sponsored entity securities		4.17			4.00			3.96			3.95			3.87
Mortgage-backed securities		5.10			5.10			4.83			4.81			4.76
States and political subdivisions		7.00			6.90			6.84			6.82			6.81
Other securities		6.45			5.24			5.25			6.01			5.41
Trading securities		3.45			3.31			2.94			3.70			3.17
Total securities		4.72			4.47			4.33			4.39			4.29
Loans:
Commercial loans and leases		7.97			8.00			7.73			7.39			7.01
Consumer loans		7.44			7.38			7.14			6.95			6.69
Mortgage loans		5.85			5.79			5.66			5.50			5.46
Specialized lending		15.29			15.32			15.12			15.14			14.63
Total loans		7.73			7.70			7.47			7.19			6.90
Other earning assets (2)		10.44			4.16			4.23			3.76			3.29
Total earning assets		7.14			6.99			6.77			6.56			6.30
Interest expense:
Interest-bearing deposits:
Interest checking		2.29			1.94			1.78			1.38			1.13
Other client deposits		2.76			2.61			2.29			2.03			1.80
Client certificates of deposit		4.53			4.33			3.99			3.66			3.29
Other interest-bearing deposits		5.35			5.36			5.00			4.54			4.03
Total interest-bearing deposits		3.67			3.54			3.20			2.90			2.58
Fed funds purchased, repos and other borrowings (2)		4.51			4.43			4.30			3.95			3.64
Long-term debt		5.27			5.28			5.04			4.77			4.58
Total interest-bearing liabilities		4.02			3.91			3.60			3.29			3.00
Net yield on earning assets		3.70	%		3.68	%		3.76	%		3.82	%		3.82	%

NOTES: (1) Fully taxable equivalent yields. Securities yields calculated based on amortized cost.

(2) The fourth quarter of 2006 includes interest income and expense associated with a deposit placed with the IRS to curtail the accrual of interest on disputed tax payments.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 10	Investor Relations	FAX (336) 733-3132

	As of / For the Quarter Ended
(Dollars in thousands, except per share data)	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
SELECTED BALANCE SHEET DATA
End of period balances
Securities available for sale	$	20,721,027		$	20,733,173		$	20,090,945		$	19,433,575		$	19,782,966
Trading securities		2,146,713			887,605			918,621			745,169			706,518
Total securities		22,867,740			21,620,778			21,009,566			20,178,744			20,489,484
Commercial loans and leases		41,300,358			40,429,350			39,650,277			37,191,415			36,615,085
Direct retail loans		15,312,041			15,244,466			14,941,425			14,543,073			14,452,518
Sales finance loans		5,682,700			5,553,067			5,378,170			5,176,673			5,264,088
Revolving credit loans		1,414,010			1,354,850			1,327,612			1,299,396			1,347,309
Mortgage loans		16,256,766			15,847,368			15,680,929			15,036,187			14,481,561
Specialized lending		3,625,063			3,520,978			3,305,220			3,032,538			2,862,927
Total loans and leases		83,590,938			81,950,079			80,283,633			76,279,282			75,023,488
Allowance for loan and lease losses		888,130			883,497			869,880			833,231			825,300
Other earning assets		826,307			937,559			960,176			816,838			730,819
Total earning assets		107,676,225			105,000,543			103,097,439			97,984,757			96,777,005
Total assets		121,351,065			118,523,897			116,283,730			110,033,689			109,169,759
Noninterest-bearing deposits		13,393,254			13,559,660			13,820,031			13,413,099			13,476,939
Interest checking		1,333,036			1,322,730			1,596,606			1,338,847			1,426,715
Other client deposits		34,062,454			32,731,559			32,099,525			32,074,100			30,959,888
Client certificates of deposit		24,986,519			24,356,110			23,696,963			20,352,627			19,309,667
Other interest-bearing deposits		7,196,315			8,096,144			7,299,676			8,385,456			9,108,590
Total deposits		80,971,578			80,066,203			78,512,801			75,564,129			74,281,799
Fed funds purchased, repos and other borrowings		8,087,009			7,234,721			6,797,108			6,356,330			6,561,719
Long-term debt		15,903,756			16,159,379			15,195,145			13,045,058			13,118,559
Total interest-bearing liabilities		91,569,089			89,900,643			86,685,023			81,552,418			80,485,138
Total shareholders' equity		11,744,562			11,733,925			11,164,113			10,969,972			11,129,114
Goodwill		4,827,078			4,822,813			4,730,294			4,300,396			4,255,998
Core deposit and other intangibles		454,451			478,853			493,463			479,231			487,525
Total intangibles		5,281,529			5,301,666			5,223,757			4,779,627			4,743,523
Mortgage servicing rights	$	512,132		$	507,171		$	523,908		$	485,307		$	451,287
Average balances
Securities, at amortized cost	$	21,608,867		$	21,736,400		$	21,081,257		$	20,955,014		$	20,807,541
Commercial loans and leases		40,757,471			39,978,258			38,174,530			36,897,691			36,213,607
Direct retail loans		15,291,007			15,099,661			14,717,736			14,498,280			14,354,335
Sales finance loans		5,622,671			5,452,516			5,242,120			5,215,937			5,316,296
Revolving credit loans		1,362,340			1,337,761			1,308,457			1,316,837			1,307,724
Mortgage loans		16,091,003			15,802,913			15,351,188			14,664,573			14,381,114
Specialized lending		3,565,037			3,373,322			3,183,885			2,849,331			2,741,610
Total loans and leases		82,689,529			81,044,431			77,977,916			75,442,649			74,314,686
Allowance for loan and lease losses		891,210			880,383			852,045			827,863			818,743
Other earning assets		918,077			976,003			968,783			777,594			797,372
Total earning assets		105,216,473			103,756,834			100,027,956			97,175,257			95,919,599
Total assets		118,776,943			116,884,135			112,383,000			109,132,162			107,844,163
Noninterest-bearing deposits		13,288,622			13,511,451			13,212,630			12,851,943			13,343,220
Interest checking		2,283,528			2,228,351			2,234,363			1,905,570			1,845,732
Other client deposits		32,616,071			31,712,618			30,809,035			30,687,180			30,166,800
Client certificates of deposit		24,711,513			23,951,163			21,626,636			19,896,614			18,849,059
Other interest-bearing deposits		6,989,687			7,719,548			7,742,840			8,858,068			8,743,882
Total deposits		79,889,421			79,123,131			75,625,504			74,199,375			72,948,693
Fed funds purchased, repos and other borrowings		7,109,375			6,720,188			7,507,314			6,684,788			7,118,752
Long-term debt		16,099,743			15,433,191			13,825,503			13,111,268			12,717,191
Total interest-bearing liabilities		89,809,917			87,765,059			83,745,691			81,143,488			79,441,416
Total shareholders' equity	$	11,940,955		$	11,500,116		$	11,221,497		$	11,134,096		$	11,126,630
SELECTED CAPITAL INFORMATION (1)
Risk-based capital:
Tier 1	$	8,225,830		$	8,154,510		$	7,841,326		$	7,360,953		$	7,453,987
Total		13,016,178			12,938,282			11,863,873			11,418,033			11,610,547
Risk-weighted assets		91,013,274			88,619,107			86,412,021			81,623,098			80,390,559
Average quarterly tangible assets		114,006,913			112,401,529			108,026,743			105,038,107			103,741,007
Risk-based capital ratios:
Tier 1		9.0	%		9.2	%		9.1	%		9.0	%		9.3	%
Total		14.3			14.6			13.7			14.0			14.4
Leverage capital ratio		7.2			7.3			7.3			7.0			7.2
Equity as a percentage of total assets		9.7			9.9			9.6			10.0			10.2
Tangible equity as a percentage of tangible assets (2)		5.6			5.7			5.3			5.9			6.1
Book value per share	$	21.69		$	21.70		$	20.79		$	20.48		$	20.49
Tangible book value per share (2)		11.94			11.90			11.06			11.56			11.76

NOTES: All items referring to loans and leases include loans held for sale and are net of unearned income.

(1) Current quarter risk-based capital information is preliminary.

(2) Excludes the carrying value of goodwill and other intangible assets from shareholders' equity and total assets, where applicable.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 11	Investor Relations	FAX (336) 733-3132

	As of / For the Quarter Ended
(Dollars in thousands)	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
ASSET QUALITY ANALYSIS
Allowance For Credit Losses
Beginning balance	$	884,144		$	870,877		$	833,432		$	829,770		$	830,344
Allowance for acquired (sold) loans, net		(507	)		5,669			25,043			3,731			(970	)
Provision for credit losses		72,727			62,336			57,732			47,571			69,329
Charge-offs
Commercial loans and leases		(14,780	)		(10,339	)		(7,025	)		(5,407	)		(20,584	)
Direct retail loans		(12,783	)		(11,952	)		(11,638	)		(10,597	)		(10,293	)
Sales finance loans		(5,712	)		(5,007	)		(5,304	)		(5,610	)		(8,617	)
Revolving credit loans		(12,270	)		(10,207	)		(10,435	)		(11,337	)		(15,994	)
Mortgage loans		(1,626	)		(1,350	)		(1,238	)		(2,095	)		(1,347	)
Specialized lending		(36,210	)		(30,879	)		(26,306	)		(27,226	)		(26,923	)
Total charge-offs		(83,381	)		(69,734	)		(61,946	)		(62,272	)		(83,758	)
Recoveries
Commercial loans and leases		3,163			3,648			5,392			3,203			4,550
Direct retail loans		3,086			3,233			3,012			3,065			2,653
Sales finance loans		2,257			1,646			1,732			1,739			1,866
Revolving credit loans		2,876			3,063			2,974			2,743			2,841
Mortgage loans		75			95			84			144			162
Specialized lending		3,809			3,311			3,422			3,738			2,753
Total recoveries		15,266			14,996			16,616			14,632			14,825
Net charge-offs		(68,115	)		(54,738	)		(45,330	)		(47,640	)		(68,933	)
Ending balance	$	888,249		$	884,144		$	870,877		$	833,432		$	829,770
Allowance For Credit Losses
Allowance for loan and lease losses	$	888,130		$	883,497		$	869,880		$	833,231		$	825,300
Reserve for unfunded lending commitments		119			647			997			201			4,470
Total	$	888,249		$	884,144		$	870,877		$	833,432		$	829,770
Nonperforming Assets
Nonaccrual loans and leases:
Commercial loans and leases	$	129,125		$	124,018		$	125,950		$	109,838		$	103,804
Direct retail loans		39,051			38,205			39,470			42,156			40,916
Sales finance loans		1,909			2,483			2,502			3,064			4,640
Revolving credit loans		222			203			222			177			233
Mortgage loans		52,275			49,817			46,705			49,643			48,126
Specialized lending		37,255			30,683			24,154			26,508			31,160
Total nonaccrual loans and leases		259,837			245,409			239,003			231,386			228,879
Foreclosed real estate		54,179			54,553			55,623			41,341			48,315
Other foreclosed property		34,429			30,555			24,304			22,895			22,420
Restructured loans		459			584			494			507			515
Nonperforming assets	$	348,904		$	331,101		$	319,424		$	296,129		$	300,129
Loans 90 days or more past due
and still accruing:
Commercial loans and leases	$	13,610		$	8,454		$	18,510		$	5,727		$	10,413
Direct retail loans		20,578			16,646			16,536			17,686			20,814
Sales finance loans		17,155			12,489			12,318			18,347			21,585
Revolving credit loans		5,866			6,254			5,456			4,172			4,713
Mortgage loans		36,920			36,300			32,221			28,251			38,828
Specialized lending		8,136			6,762			5,675			5,050			7,092
Total loans 90 days or more past due
and still accruing		102,265			86,905			90,716			79,233			103,445
Loans 90 days or more past due and still accruing
as a percentage of total loans and leases		.12	%		.11	%		.11	%		.10	%		.14	%
Asset Quality Ratios
Nonaccrual and restructured loans and leases
as a percentage of total loans and leases		.31	%		.30	%		.30	%		.30	%		.31	%
Nonperforming assets as a percentage of:
Total assets		.29			.28			.27			.27			.27
Loans and leases plus
foreclosed property		.42			.40			.40			.39			.40
Net charge-offs as a percentage of
average loans and leases		.33			.27			.23			.26			.37
Net charge-offs excluding specialized
lending as a percentage of average
loans and leases (1)		.18			.14			.12			.13			.25
Allowance for loan and lease losses as
a percentage of loans and leases		1.06			1.08			1.08			1.09			1.10
Allowance for loan and lease losses as
a percentage of loans and leases
held for investment		1.07			1.09			1.09			1.10			1.11
Ratio of allowance for loan and lease losses to:
Net charge-offs		3.29	x		4.07	x		4.78	x		4.31	x		3.02	x
Nonaccrual and restructured loans and leases		3.41			3.59			3.63			3.59			3.60

NOTES: All items referring to loans and leases include loans held for sale and are net of unearned income. Applicable ratios are annualized.

(1) Excludes net charge-offs and average loans from BB&T's specialized lending subsidiaries.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 12	Investor Relations	FAX (336) 733-3132

	As of / For the Twelve Months Ended						Increase (Decrease)
(Dollars in thousands)	12/31/06			12/31/05			$			%
Allowance For Credit Losses
Beginning balance	$	829,770		$	828,301		$	1,469			.2	%
Allowance for acquired (sold) loans, net		33,936			(970	)		34,906			NM
Provision for credit losses		240,366			217,263			23,103			10.6
Charge-offs
Commercial loans and leases		(37,551	)		(49,262	)		11,711			(23.8	)
Direct retail loans		(46,970	)		(46,448	)		(522	)		1.1
Sales finance loans		(21,633	)		(26,664	)		5,031			(18.9	)
Revolving credit loans		(44,249	)		(54,418	)		10,169			(18.7	)
Mortgage loans		(6,309	)		(6,053	)		(256	)		4.2
Specialized lending		(120,621	)		(94,902	)		(25,719	)		27.1
Total charge-offs		(277,333	)		(277,747	)		414			(.1	)
Recoveries
Commercial loans and leases		15,406			17,078			(1,672	)		(9.8	)
Direct retail loans		12,396			11,874			522			4.4
Sales finance loans		7,374			8,883			(1,509	)		(17.0	)
Revolving credit loans		11,656			10,858			798			7.3
Mortgage loans		398			636			(238	)		(37.4	)
Specialized lending		14,280			13,594			686			5.0
Total recoveries		61,510			62,923			(1,413	)		(2.2	)
Net charge-offs		(215,823	)		(214,824	)		(999	)		(.5	)
Ending balance	$	888,249		$	829,770		$	58,479			7.0	%
Allowance For Credit Losses
Allowance for loan and lease losses	$	888,130		$	825,300		$	62,830			7.6	%
Reserve for unfunded lending commitments		119			4,470			(4,351	)		(97.3	)
Total	$	888,249		$	829,770		$	58,479			7.0	%
Asset Quality Ratios
Net charge-offs as a percentage of
average loans and leases		.27	%		.30	%
Net charge-offs excluding specialized
lending as a percentage of average
loans and leases (1)		.14			.19
Ratio of allowance for loan and lease losses to
net charge-offs		4.12	x		3.84	x

	Percentage Increase (Decrease)
	QTD			Annualized Link QTD			YTD
	4Q06 vs. 4Q05			4Q06 vs. 3Q06			2006 vs. 2005
PERCENTAGE CHANGES IN SELECTED BALANCES ADJUSTED FOR
PURCHASE ACQUISITIONS (2)
Average Balances
Commercial loans and leases		6.4	%		6.4	%		7.6	%
Direct retail loans		5.1			4.2			5.4
Sales finance loans		5.8			12.4			3.2
Revolving credit loans		4.2			7.3			4.6
Mortgage loans (3)		13.0			6.8			16.5
Specialized lending		27.7			24.9			24.5
Total loans and leases (3)		8.1			7.3			9.1
Noninterest-bearing deposits		(3.1	)		(7.3	)		1.0
Interest checking		9.6			6.6			11.7
Other client deposits		5.6			10.6			4.1
Client certificates of deposit		25.4			11.0			22.1
Total client deposits		9.8			7.3			8.9
Other interest-bearing deposits		(21.7	)		(37.6	)		(1.7	)
Total deposits		6.1	%		2.9	%		7.7	%
PERCENTAGE CHANGES IN SELECTED INCOME STATEMENT ITEMS
BASED ON OPERATING EARNINGS ADJUSTED FOR PURCHASE ACQUISITIONS (2)
Net interest income - taxable equivalent		1.7	%		6.4	%		2.5	%
Noninterest income
Insurance commissions		6.7			11.9			9.9
Service charges on deposits		(2.7	)		7.4			(0.2	)
Other nondeposit fees and commissions		13.7			1.9			19.1
Investment banking and brokerage fees and commissions		3.6			(37.2	)		5.7
Trust revenue		6.8			(2.2	)		5.1
Mortgage banking income (4)		(8.4	)		63.3			6.2
Securities gains (losses), net		NM			NM			NM
Other income		31.9			82.0			23.5
Total noninterest income (4)		7.2			10.5			8.9
Noninterest expense
Personnel expense		7.5			6.4			9.7
Occupancy and equipment expense		2.0			12.5			3.1
Other noninterest expense		2.4			(8.9	)		5.6
Total noninterest expense		5.2	%		2.6	%		7.6	%

NOTES: All items referring to loans and leases include loans held for sale and are net of unearned income. Applicable ratios are annualized.

(1) Excludes net charge-offs and average loans from BB&T's specialized lending subsidiaries.

(2) Adjusted to exclude estimated growth that resulted from the timing of acquisitions during 2006 and 2005.

(3) Adjusted for the average impact of $51 million and $210 million in mortgage loans securitized in the fourth quarters of 2006 and 2005, respectively.

(4) Excludes the net impact of valuation adjustments for mortgage servicing rights and gains or losses on mortgage servicing rights-related derivatives.

NM - not meaningful.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 13	Investor Relations	FAX (336) 733-3132

	As of / For the Quarter Ended
(Dollars in thousands)	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
SELECTED MORTGAGE BANKING INFORMATION
Residential Mortgage Servicing Rights (1)	$	483,664		$	480,839		$	499,706		$	462,920		$	431,213
Income Statement Impact of Mortgage Servicing
Rights Valuation:
MSRs fair value (decrease) increase	$	494		$	(40,620	)	$	32,389		$	28,883		$	—
MSRs valuation recaptures		—			—			—			—			29,407
MSRs derivative hedge gains (losses)		(3,075	)		40,080			(28,873	)		(24,834	)		(32,747	)
Net	$	(2,581	)	$	(540	)	$	3,516		$	4,049		$	(3,340	)
Residential Mortgage Loan Originations	$	2,462,536		$	2,461,175		$	2,656,293		$	2,308,835		$	2,450,434
Residential Mortgage Servicing Portfolio:
Loans serviced for others	$	28,979,169		$	28,589,372		$	27,024,724		$	26,787,683		$	26,624,810
Bank owned loans serviced		16,256,766			15,847,368			15,680,929			15,036,187			14,481,561
Total servicing portfolio		45,235,935			44,436,740			42,705,653			41,823,870			41,106,371
Weighted Average Coupon Rate		5.92	%		5.90	%		5.86	%		5.84	%		5.83	%
Weighted Average Servicing Fee		.353			.351			.351			.351			.349

	For the Quarter Ended
(Dollars in thousands, except per share data)	12/31/06			9/30/06			6/30/06			3/31/06			12/31/05
RECONCILIATION TABLE
Net income	$	250,829		$	417,028		$	429,100		$	431,513		$	429,574
Merger-related items, net of tax		5,588			6,182			989			(1,853	)		(3,771	)
Equity-based compensation, net of tax		6,506			6,543			6,238			16,363			—
Other, net of tax (4)		185,997			—			—			(18,334	)		—
Operating earnings		448,920			429,753			436,327			427,689			425,803
Amortization of intangibles, net of tax		17,021			16,869			15,892			15,818			18,305
Amortization of mark-to-market adjustments, net of tax		1,165			976			2,556			3,141			4,758
Cash basis operating earnings		467,106			447,598			454,775			446,648			448,866
Return on average assets		.84	%		1.42	%		1.53	%		1.60	%		1.58	%
Effect of merger-related items, net of tax		.02			.02			—			—			(.01	)
Effect of equity-based compensation, net of tax		.02			.02			.03			.06			—
Effect of other, net of tax (4)		.62			—			—			(.07	)		—
Operating return on average assets		1.50			1.46			1.56			1.59			1.57
Effect of amortization of intangibles, net of tax (2)		.13			.13			.13			.14			.14
Effect of amortization of mark-to-market adjustments,
net of tax		—			—			.01			.01			.02
Cash basis operating return on average
tangible assets		1.63			1.59			1.70			1.74			1.73
Return on average equity		8.33	%		14.39	%		15.34	%		15.72	%		15.32	%
Effect of merger-related items, net of tax		.19			.21			.04			(.07	)		(.14	)
Effect of equity-based compensation, net of tax		.22			.23			.22			.60			—
Effect of other, net of tax (4)		6.18			—			—			(.67	)		—
Operating return on average equity		14.92			14.83			15.60			15.58			15.18
Effect of amortization of intangibles, net of tax (2)		12.88			13.64			13.27			12.63			12.40
Effect of amortization of mark-to-market adjustments,
net of tax		.07			.06			.09			.20			.30
Cash basis operating return on average
tangible equity		27.87			28.53			28.96			28.41			27.88
Efficiency ratio (taxable equivalent) (3)		55.3	%		56.2	%		54.0	%		53.5	%		52.6	%
Effect of merger-related items		(.6	)		(.6	)		(.1	)		.2			.4
Effect of equity-based compensation		(.6	)		(.7	)		(.7	)		(1.7	)		—
Effect of other (4)		—			—			—			1.8			—
Operating efficiency ratio (3)		54.1			54.9			53.2			53.8			53.0
Effect of amortization of intangibles		(1.6	)		(1.6	)		(1.6	)		(1.6	)		(1.9	)
Effect of amortization of mark-to-market adjustments		(.1	)		(.1	)		(.1	)		(.2	)		(.2	)
Cash basis operating efficiency ratio (3)		52.4			53.2			51.5			52.0			50.9
Basic earnings per share	$	.46		$	.77		$	.80		$	.80		$	.79
Effect of merger-related items, net of tax		.01			.01			—			(.01	)		(.01	)
Effect of equity-based compensation, net of tax		.01			.02			.01			.03			—
Effect of other, net of tax (4)		.35			—			—			(.03	)		—
Operating basic earnings per share		.83			.80			.81			.79			.78
Diluted earnings per share	$	.46		$	.77		$	.79		$	.79		$	.78
Effect of merger-related items, net of tax		.01			.01			—			—			—
Effect of equity-based compensation, net of tax		.01			.01			.02			.03			—
Effect of other, net of tax (4)		.34			—			—			(.03	)		—
Operating diluted earnings per share		.82			.79			.81			.79			.78
Effect of amortization of intangibles, net of tax		.03			.03			.03			.03			.03
Effect of amortization of mark-to-market adjustments,
net of tax		—			—			—			—			.01
Cash basis operating diluted earnings per share		.85			.82			.84			.82			.82

NOTES: Applicable ratios are annualized.

(1) Balances exclude commercial mortgage servicing rights totaling $28.5 million, $26.3 million, $24.2 million, $22.4 million and $20.1 million as of December 31, 2006, September 30, 2006, June 30, 2006, March 31, 2006 and December 31, 2005, respectively. Effective January 1, 2006, residential mortgage servicing rights are carried at fair value.

(2) Reflects the effect of excluding average intangible assets from average assets and average equity to calculate cash basis ratios.

(3) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage servicing rights-related derivatives. Operating and cash basis ratios also exclude merger-related charges or credits, equity-based compensation and nonrecurring items, where applicable.

(4) Reflects an additional tax provision of $139.1 million related to leveraged leases and a loss on the sale of securities totaling $46.9 million, net of tax, in the fourth quarter of 2006 and a gain on the sale of duplicate facilities totaling $18.3 million, net of tax, in the first quarter of 2006.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
Page 14	Investor Relations	FAX (336) 733-3132

	For the Twelve Months Ended
(Dollars in thousands, except per share data)	12/31/06			12/31/05
RECONCILIATION TABLE
Net income	$	1,528,470		$	1,653,769
Merger-related items, net of tax		10,906			(6,777	)
Equity-based compensation, net of tax		35,650			—
Other, net of tax (3)		167,663			26,619
Operating earnings		1,742,689			1,673,611
Amortization of intangibles, net of tax		65,600			70,754
Amortization of mark-to-market adjustments, net of tax		7,838			18,639
Cash basis operating earnings		1,816,127			1,763,004
Return on average assets		1.34	%		1.58	%
Effect of merger-related items, net of tax		.01			(.01	)
Effect of equity-based compensation, net of tax		.03			—
Effect of other, net of tax (3)		.14			.03
Operating return on average assets		1.52			1.60
Effect of amortization of intangibles, net of tax (1)		.13			.15
Effect of amortization of mark-to-market adjustments, net of tax		.01			.02
Cash basis operating return on average tangible assets		1.66			1.77
Return on average equity		13.35	%		14.95	%
Effect of merger-related items, net of tax		.10			(.07	)
Effect of equity-based compensation, net of tax		.31			—
Effect of other, net of tax (3)		1.46			.24
Operating return on average equity		15.22			15.12
Effect of amortization of intangibles, net of tax (1)		13.09			12.41
Effect of amortization of mark-to-market adjustments, net of tax		.13			.29
Cash basis operating return on average tangible equity		28.44			27.82
Efficiency ratio (taxable equivalent) (2)		54.8	%		53.1	%
Effect of merger-related items		(.3	)		.2
Effect of equity-based compensation		(.9	)		—
Effect of other (3)		.4			(.8	)
Operating efficiency ratio (2)		54.0			52.5
Effect of amortization of intangibles		(1.6	)		(1.9	)
Effect of amortization of mark-to-market adjustments		(.1	)		(.2	)
Cash basis operating efficiency ratio (2)		52.3			50.4
Basic earnings per share	$	2.84		$	3.02
Effect of merger-related items, net of tax		.02			(.01	)
Effect of equity-based compensation, net of tax		.06			—
Effect of other, net of tax (3)		.31			.05
Operating basic earnings per share		3.23			3.06
Diluted earnings per share	$	2.81		$	3.00
Effect of merger-related items, net of tax		.02			(.01	)
Effect of equity-based compensation, net of tax		.06			—
Effect of other, net of tax (3)		.31			.05
Operating diluted earnings per share		3.20			3.04
Effect of amortization of intangibles, net of tax		.12			.12
Effect of amortization of mark-to-market adjustments, net of tax		.02			.04
Cash basis operating diluted earnings per share		3.34			3.20

NOTES: Applicable ratios are annualized.

(1) Reflects the effect of excluding average intangible assets from average assets and average equity to calculate cash basis ratios.

(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage servicing rights-related derivatives. Operating and cash basis ratios also exclude merger-related charges or credits, equity-based compensation and nonrecurring items, where applicable.

(3) Reflects an additional tax provision of $139.1 million related to leveraged leases, a loss on the sale of securities totaling $46.9 million, net of tax, and a gain on the sale of duplicate facilities totaling $18.3 million, net of tax, in 2006 and a one-time charge related to the accounting for leases totaling $26.6 million, net of tax, in 2005.