8-K

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

Form 8-KCurrent Report

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

July 22, 2010
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

     On July 22, 2010, BB&T Corporation issued a press release reporting second quarter 2010 results, and posted on its website its second quarter 2010 Earnings Release, Quarterly Performance Summary and Earnings Release Presentation. The release contains forward-looking statements regarding BB&T and includes a cautionary statement identifying important factors that could cause actual results to differ materially from those anticipated. The Earnings Release, Quarterly Performance Summary and Earnings Release Presentation are furnished as Exhibit 99.1, 99.2 and 99.3, respectively.

ITEM 9.01 Financial Statements and Exhibits

Exhibit No.	Description of Exhibit
99.1	BB&T Corporation's Earnings Release issued July 22, 2010.
99.2	BB&T Corporation's Quarterly Performance Summary issued July 22, 2010.
99.3	BB&T Corporation's Earnings Release Presentation issued July 22, 2010.

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/ Cynthia B. Powell

Cynthia B. Powell

Executive Vice President and Corporate Controller 

(Principal Accounting Officer)

Date:     July 22, 2010

EX-99.1

Exhibit 99.1

July 22, 2010
FOR IMMEDIATE RELEASE
Contacts:
ANALYSTS		MEDIA
Tamera Gjesdal	Alan Greer	Cynthia Williams
Senior Vice President	Executive Vice President	Executive Vice President
Investor Relations	Investor Relations	Corporate Communications
(336) 733-3058	(336) 733-3021	(336) 733-1478

BB&T reports 2^nd quarter EPS totaling $.30, up 50%; Earnings per share total $.33 excluding merger charges

BB&T disposes of $682 million in problem assets

     WINSTON-SALEM, N.C. -- BB&T Corporation (NYSE: BBT) today reported earnings for the second quarter of 2010. Net income available to common shareholders totaled $210 million, or $.30 per diluted common share, compared with $121 million, or $.20 per diluted common share, earned during the second quarter of 2009. These results reflect increases of 73.6% and 50.0%, respectively. Results include $38 million, or $.03 per share, of merger-related charges.

     “BB&T’s core businesses continued to produce solid results in the second quarter,” said Chairman and Chief Executive Officer Kelly S. King. “In particular, we have seen a pick up in lending, with $17.5 billion in originations this quarter compared to $15.4 billion in the first quarter. This growth is led by prime auto, C&I and prime mortgage. We also grew net revenues 6.4% on an annualized basis compared to the first quarter excluding securities gains and FDIC loss share income.

     “In addition, we successfully implemented a strategy to accelerate our disposition of problem assets,” said King. “Our primary goals for the strategy are to reduce the company’s exposure to nonperforming assets and reduce or eliminate any delay exiting the credit cycle. Our long-term plan has always been to sell problem assets as pricing improved. Early in the second quarter, we reached an inflection point and have seen more bidders and more acceptable valuations for problem assets. As a result, we disposed of $682 million of problem assets, lowering our balance sheet risk and making significant progress in meeting the goals of the strategy.

     “Finally, this quarter we successfully completed the systems conversion of Colonial, the largest in our history. It was potentially the best execution of any acquisition in our history, as we have received an overwhelmingly positive response from clients and employees of Colonial.”

Quarterly Highlights Include:

Significant benefits from the NPA disposition strategy and stable credit outlook
o	Nonperforming assets decreased 3.1%, representing the first decrease since 1Q06
o	The ratio of allowance for loan and lease losses to nonperforming loans held for investment, excluding covered loans, improved to 98% at June 30 compared with 93% at March 31

o	Early stage credit indicators show continued signs of improvement
o	Net charge-offs, excluding covered loans, totaled 2.66% for the quarter including $148 million in charge-offs associated with the NPA disposition strategy. Excluding these losses and covered loans, net charge-offs were 2.06% for the quarter
o	The provision for credit losses decreased 7.3% for the second quarter compared to the same period in 2009
Net interest income for the second quarter increased 19.5% compared to the second quarter of
2009
o	The net interest margin increased to 4.12% for the second quarter, a 56 basis point increase compared to the second quarter of 2009 and a 24 basis point increase compared to last quarter
o	The current quarter margin is BB&T’s strongest since 2003
o	The margin increase was driven primarily by higher yields on acquired loans and lower deposit costs
o	2010 margin outlook improves following the second quarter assessment of cash flows from acquired loans
o	Approximately 80% of the margin increase from covered loans is offset as a reduction of other noninterest income
o	The better performance in acquired loans will be shared with the FDIC pursuant to the terms of the loss share agreements
Balance sheet deleverage produced gains and provided additional balance sheet flexibility
o	BB&T sold $8.0 billion of securities, net of purchases, and recorded net gains of $219 million in the quarter
o	Our stated target for securities is 15-20% of earning assets and the deleverage reduced securities to 18.1% of earning assets
o	Achieves a better mix of earnings assets
o	Significantly improves asset sensitivity
o	Improves BB&T’s capital position
Average client deposits were up 18.9% in the second quarter compared to the second quarter of
2009, including stronger account openings in Colonial branches
o	Net new client transaction accounts increased 68.1% on an annualized linked quarter basis, including the impact of Colonial
o	Deposit mix continued to improve with 25.3% growth in average noninterest-bearing deposit accounts and 46.3% growth in average interest checking accounts
o	Average client certificates of deposit increased 11.0% compared with last year
o	On a linked quarter basis, transaction accounts are up an annualized 18.8%
o	Deposit cost and mix continued to improve
Average total loans and leases increased 4.4% for the second quarter compared to the same period in 2009
o	Growth resulted from loans acquired through the Colonial acquisition, a 9.4% increase in average loans originated by BB&T’s specialized lending group, a 6.8% increase in average sales finance loans and an 11.1% increase in average revolving credit loans
o	Commercial loans decreased 2.5% reflecting a $2.1 billion decrease in residential acquisition, development and construction loans and slower overall commercial loan demand
o	On a linked quarter basis, average loans held for investment grew an annualized 2.6% excluding the runoff of the ADC portfolio and the loans acquired from Colonial

•	BB&T's capital levels improve at June 30 compared to March 31
	o	Tangible common equity improved to 7.0% from 6.4%
	o	Tier 1 common ratio improved to 8.9% from 8.6%
	o	Tier 1 risk-based capital ratio increased to 11.7% from 11.6%
	Net revenue growth, excluding securities gains (losses) and FDIC loss share income, was 6.4% in the second quarter on an annualized basis compared to the first quarter of 2010
	o	Pre-tax pre-provision earnings available to common shareholders totaled $885 million for the quarter

BB&T responds to financial industry reform legislation

     This week the President signed sweeping legislation that will significantly affect America’s financial system. While BB&T supports many components of the legislation, we are also concerned about the uncertainty it creates and the potential for unintended consequences.

     “In terms of the legislation’s impact on BB&T, our business model is still that of a traditional commercial bank, so many of the provisions will have little or no impact on us,” said King. “While we will initially have moderately higher costs and reduced revenues in some areas, we will effectively implement the provisions of the law and we expect little effect on our long-term performance. We do expect some changes in the products and services that we offer, and will minimize any impact to our clients. We continue to make as many good loans as possible and are dedicated to financing economic growth in our markets.”

Acquired loan assessment indicates continued outperformance

     After completing its second quarter assessment of cash flows on acquired loans, BB&T determined that the loans continue to outperform prior estimates. The assessment, combined with the results of the first quarter assessment, resulted in additional interest income of $100 million recorded in the second quarter. The increase results primarily from improving expectations for cash flows. The assessment also revealed minimal additional impairment in certain loans, offset by recoveries in other loans resulting in a $2 million reversal of provision for loan and lease losses. Approximately 80% of both the additional accretion and provision reversal are offset through the FDIC receivable and noninterest income due to the provisions of the FDIC loss sharing agreements.

Noninterest revenues increased 4.6%

     Noninterest income increased $46 million, or 4.6%, in the second quarter of 2010 compared to the same period last year primarily due to a $200 million increase in securities gains, offset by a $74 million decrease in mortgage banking revenues and a $78 million reduction in noninterest income to reflect the 80% reduction in expected receivables from the FDIC due to better acquired loan performance.

     BB&T earned $110 million in mortgage-related revenue in the second quarter of 2010, an increase of 94.6%, on an annualized basis, compared with the first quarter of 2010, but a decrease of 40.2% compared to the second quarter last year. The increase in mortgage banking income from the first quarter is primarily due to increased refinance activity created by a favorable interest rate environment. BB&T originated $5.0 billion of mortgage loans during the second quarter of 2010 compared to $4.8 billion in originations in the first quarter and $8.5 billion in the second quarter last year.

     BB&T's insurance operations produced record quarterly revenues of $287 million in the second quarter of 2010, up 2.1% compared with the second quarter of 2009. Insurance income increased 53.9% on an annualized basis compared to the first quarter this year.

     

     Checkcard fees and other nondeposit fees and commissions increased 22.8% and 18.9%, respectively, compared to the second quarter of 2009. The increase in checkcard fees was primarily due to increased usage by new and existing clients. The growth in nondeposit fees and commissions was primarily the result of increased commercial lending related revenues. Service charges on deposit accounts totaled $164 million in the second quarter of 2010, a decrease of 2.4% compared to the same quarter of 2009. The decrease in service charges was primarily due to a change in BB&T’s overdraft policies. Trust and investment advisory revenue increased 18.2% for this same period due to improved market conditions and an increase in assets under management led by Sterling Capital Management.

     Other noninterest income totaled ($2 million) during the second quarter of 2010, compared with $42 million for the same period of 2009. Other income decreased $19 million as a result of market-related decreases in trading assets for post-employment benefits that are offset by a similar decrease in personnel expense and $20 million for client derivative losses and lower trading gains at Scott & Stringfellow.

Noninterest expenses increase primarily due to the Colonial acquisition and higher credit costs

     BB&T’s noninterest expenses increased $319 million, or 27.0%, in the second quarter of 2010 compared with the same period in 2009. The increase included $180 million of additional maintenance costs, net losses from sales and write-downs in the value of foreclosed properties; $39 million in merger-related charges; and $36 million as a result of a gain on extinguishment of debt recorded in the second quarter of 2009. These increases were partially offset by declines of $19 million for post-employment benefits expense that are offset by a reduction in noninterest income; $15 million for pension plan expense and a $71 million charge related to the FDIC special assessment that was incurred in the second quarter last year. Excluding these items and expenses related to the Colonial acquisition of approximately $125 million, noninterest expenses were up approximately 4% compared to the second quarter of last year.

Earnings webcast, presentation and Quarterly Performance Summary

     To hear a live webcast of BB&T’s second quarter 2010 earnings conference call at 8 a.m. (ET) today, please visit our Web site at www.BBT.com. A presentation will be used during the earnings conference call and will be available on our Web site. Replays of the conference call will be available on the BB&T Web site until Thursday, August 5, or by dialing 1-888-203-1112 (access code 4313363) until Tuesday, July 27.

     To access the webcast and presentation, including an appendix reconciling non-GAAP disclosures, go to www.BBT.com and click on “About BB&T” and proceed to “Investor Relations.” The webcast link can be found under “Webcasts” and the presentation can be found under “View Recent Presentations.”

     BB&T’s Second Quarter 2010 Quarterly Performance Summary, which contains detailed financial schedules, is available on BB&T’s Web site at www.BBT.com/financials.html.

About BB&T

     As of June 30, BB&T is one of the 10 largest financial services holding companies in the U.S. with $155.1 billion in assets and market capitalization of $18.2 billion. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at < U>www.BBT.com.

###

       Regulatory capital ratios are preliminary.

     This news release contains performance measures 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. BB&T’s management uses these measures to evaluate the underlying performance and efficiency of its operations. It believes that these non-GAAP measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrating the effects of significant gains and charges in the current period. The company believes that a meaningful analysis of its financial performance requires an understanding of the factors un derlying that performance. BB&T’s management believes that investors may use these non-GAAP financial measures to analyze financial performance without the impact of unusual items that may obscure trends in the company’s underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Tangible common equity and Tier 1 common equity ratios are non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios. BB&T's management uses these measures to assess the quality of capital and believes that investors may find them useful in their analysis of the corporation. These capital measures are not necessarily comparable to similar capital measures that may be presented by other companies. Asset quality ratios have been adjusted to remove the impact of acquir ed loans and foreclosed property covered by the FDIC loss sharing agreements as management believes their inclusion results in distortion of those ratios and may not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting.

     This news 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 news release.

EX-99.2

Exhibit 99.2

BB&T Corporation
Quarterly Performance Summary
Second Quarter 2010

BB&T Corporation
Quarterly Performance Summary
Table of Contents 
 

	Page
Financial Highlights	3
Financial Highlights - Five Quarter Trend	4
Consolidated Statements of Income	5
Consolidated Statements of Income - Five Quarter Trend	6
Consolidated Balance Sheets	7
Consolidated Balance Sheets - Five Quarter Trend	8
Average Balance Sheets	9
Average Balance Sheets - Five Quarter Trend	10
Average Balances and Rates - Quarters	11-12
Average Balances and Rates - Year-To-Date	13
Credit Quality	14-16
Credit Quality - Supplemental Schedules
Supplemental Commercial Real Estate Loan Portfolio Information	17
Supplemental Residential Mortgage Portfolio Information	18
Supplemental Troubled Debt Restructurings Information	19
Capital Information - Five Quarter Trend	20
Selected Growth Rates Adjusted for Purchase
Acquisitions and Selected Items	21
Selected Items & Additional Information	22
NON-GAAP Reconciliation Table	23

2

BB&T Corporation
Financial Highlights
(Dollars in millions, except per share data, shares in thousands)

	Quarter Ended June 30										Year-to-Date June 30
								%										%
		2010			2009			Change				2010				2009		Change
Summary Income Statement
Interest income	$	1,852			$	1,670		10.9		%	$	3,665			$	3,379		8.5	%
Interest expense		460				503		(8.5	)			926				1,038		(10.8	)
Net interest income - taxable equivalent		1,392				1,167		19.3				2,739				2,341		17.0
Less: Taxable-equivalent adjustment		32				29		10.3				65				57		14.0
Net interest income		1,360				1,138		19.5				2,674				2,284		17.1
Provision for credit losses		650				701		(7.3	)			1,225				1,377		(11.0	)
Net interest income after provision for credit losses		710				437		62.5				1,449				907		59.8
Noninterest income		1,039				993		4.6				1,883				2,024		(7.0	)
Noninterest expense		1,500				1,181		27.0				2,841				2,250		26.3
Income before income taxes		249				249		-				491				681		(27.9	)
Provision for income taxes		25				41		(39.0	)			73				155		(52.9	)
Net income		224				208		7.7				418				526		(20.5	)
Noncontrolling interest		14				4		NM				20				10		100.0
Dividends and accretion on preferred stock		-				83		(100.0	)			-				124		(100.0	)
Net income available to common shareholders		210				121		73.6				398				392		1.5
Per Common Share Data
Earnings
Basic	$	.30			$	.20		50.0	%		$	.58			$	.67		(13.4	) %
Diluted		.30				.20		50.0				.57				.67		(14.9	)
Cash dividends declared		.15				.15		-				.30				.62		(51.6	)
Book value		24.07				22.76		5.8				24.07				22.76		5.8
Tangible book value (1)		14.93				14.74		1.3				14.93				14.74		1.3
End of period shares outstanding (in thousands)		692,777			648,068			6.9				692,777			648,068			6.9
Weighted average shares (in thousands)
Basic		692,113			602,726			14.8				691,456			581,382			18.9
Diluted		701,322			608,797			15.2				700,223			586,256			19.4
Performance Ratios
Return on average assets		.56	%			.56	%					.52	%			.71	%
Return on average common shareholders' equity		5.01				3.43						4.80				5.78
Net interest margin - taxable equivalent		4.12				3.56						4.00				3.57
Fee income ratio (2)		40.8				45.5						39.9				44.2
Efficiency ratio (2)		53.7				49.8						53.1				49.2
Credit Quality (including amounts related to covered loans and
covered foreclosed property)
Nonperforming assets as a percentage of
Total assets		2.90	%			2.19	%					2.90	%			2.19	%
Loans and leases plus foreclosed property		4.24				3.29						4.24				3.29
Net charge-offs as a percentage of average
loans and leases		2.48				1.81						2.16				1.70
Allowance for loan and lease losses as a percentage
of loans and leases held for investment		2.66				2.19						2.66				2.19
Ratio of allowance for loan and lease losses to
nonperforming loans and leases held for investment		.98	X			1.01	X					.98	X			1.01	X
Average Balances
Total assets	$	159,786		$	148,496			7.6	%		$	161,785		$	149,182			8.4	%
Securities available for sale		28,309				29,510		(4.1	)			30,636				30,004		2.1
Loans and leases		103,964				99,577		4.4				104,214				99,650		4.6
Deposits		107,060				94,385		13.4				109,035				94,161		15.8
Client deposits		102,203				85,927		18.9				103,472				85,035		21.7
Shareholders' equity		16,925				16,683		1.5				16,777				16,546		1.4
Period-End Balances
Total assets	$	155,083		$	152,398			1.8	%		$	155,083		$	152,398			1.8	%
Securities available for sale		23,662				30,553		(22.6	)			23,662				30,553		(22.6	)
Loans and leases		104,719			100,334			4.4				104,719			100,334			4.4
Deposits		104,451			102,164			2.2				104,451			102,164			2.2
Client deposits		101,115				88,339		14.5				101,115				88,339		14.5
Shareholders' equity		16,740				14,792		13.2				16,740				14,792		13.2
Capital Ratios (3)
Risk-based
Tier 1		11.7	%			10.6	%					11.7	%			10.6	%
Total		15.8				15.2						15.8				15.2
Leverage		8.9				8.5						8.9				8.5
Tangible common equity (1)		7.0				6.5						7.0				6.5
Tier 1 common equity to risk-weighted assets (1)		8.9				8.4						8.9				8.4

(1)	Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios. See the calculations and management's reasons for using these measures on page 20 of this supplement.
(2)	Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impacts of FDIC loss share accounting, and other selected items as detailed on page 22 of this supplement. See Non-GAAP reconciliations.
(3)	Current quarter regulatory capital information is preliminary.
	NM - not meaningful.

3

BB&T Corporation
Financial Highlights - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)

	Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30				June 30
	2010			2010			2009			2009				2009
Summary Income Statement
Interest income	$	1,852		$	1,813		$	1,853		$	1,776			$	1,670
Interest expense		460			466			498			509				503
Net interest income - taxable equivalent		1,392			1,347			1,355			1,267				1,167
Less: Taxable-equivalent adjustment		32			33			32			30				29
Net interest income		1,360			1,314			1,323			1,237				1,138
Provision for credit losses		650			575			725			709				701
Net interest income after provision for credit losses		710			739			598			528				437
Noninterest income		1,039			844			970			940				993
Noninterest expense		1,500			1,341			1,361			1,320				1,181
Income before income taxes		249			242			207			148				249
Provision for income taxes		25			48			13			(9	)			41
Net income		224			194			194			157				208
Noncontrolling interest		14			6			9			5				4
Dividends and accretion on preferred stock		-			-			-			-				83
Net income available to common shareholders		210			188			185			152				121
Per Common Share Data
Earnings
Basic	$	.30		$	.27		$	.27		$	.23			$	.20
Diluted		.30			.27			.27			.23				.20
Cash dividends declared		.15			.15			.15			.15				.15
Book value		24.07			23.80			23.47			23.41				22.76
Tangible book value (1)		14.93			14.67			14.44			14.10				14.74
End of period shares outstanding (in thousands)		692,777			691,869			689,750			687,446				648,068
Weighted average shares (in thousands)
Basic		692,113			690,792			688,590			665,408				602,726
Diluted		701,322			698,675			696,038			672,457				608,797
Performance Ratios
Return on average assets		.56	%		.48	%		.47	%		.40	%			.56	%
Return on average common shareholders' equity		5.01			4.59			4.52			3.90				3.43
Net interest margin - taxable equivalent		4.12			3.88			3.80			3.68				3.56
Fee income ratio (2)		40.8			39.0			41.2			41.8				45.5
Efficiency ratio (2)		53.7			52.4			51.4			52.0				49.8
Credit Quality (including amounts related to covered
loans and covered foreclosed property)
Nonperforming assets as a percentage of
Total assets		2.90	%		2.84	%		2.65	%		2.48	%			2.19	%
Loans and leases plus foreclosed property		4.24			4.38			4.07			3.78				3.29
Net charge-offs as a percentage of average
loans and leases		2.48			1.84			1.83			1.71				1.81
Allowance for loan and lease losses as a percentage
of loans and leases held for investment		2.66			2.65			2.51			2.29				2.19
Ratio of allowance for loan and lease losses to
nonperforming loans and leases held for investment		.98	X		.94	X		.96	X		.93	X			1.01	X
Average Balances
Total assets	$	159,786		$	163,807		$	164,719		$	157,451			$	148,496
Securities available for sale		28,309			32,989			33,351			31,511				29,510
Loans and leases		103,964			104,468			105,869			103,334				99,577
Deposits		107,060			111,031			113,622			107,310				94,385
Client deposits		102,203			104,754			105,426			96,349				85,927
Shareholders' equity		16,925			16,627			16,336			15,537				16,683
Period-End Balances
Total assets	$	155,083		$	163,700		$	165,764		$	165,328			$	152,398
Securities available for sale		23,662			32,654			33,253			33,477				30,553
Loans and leases		104,719			104,401			106,207			107,027				100,334
Deposits		104,451			113,723			114,965			114,510				102,164
Client deposits		101,115			104,109			106,760			103,725				88,339
Shareholders' equity		16,740			16,528			16,241			16,142				14,792
Capital Ratios (3)
Risk-based
Tier 1		11.7	%		11.6	%		11.5	%		11.1		%		10.6	%
Total		15.8			15.9			15.8			15.6				15.2
Leverage		8.9			8.7			8.5			8.5				8.5
Tangible common equity (1)		7.0			6.4			6.2			6.1				6.5
Tier 1 common equity to risk-weighted assets (1)		8.9			8.6			8.5			8.4				8.4

(1)	Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios. See the calculations and management's reasons for using these measures on page 20 of this supplement.
(2)	Excludes securities gains (losses), foreclosed property expense, amortization of intangible assets, merger-related and restructuring charges, the impacts of FDIC loss share accounting, and other selected items as detailed on page 22 of this supplement.
	See Non-GAAP reconciliations.
(3)	Current quarter regulatory capital information is preliminary.

4

BB&T Corporation
Consolidated Statements of Income
(Dollars in millions, except per share data, shares in thousands)

	Quarter Ended June 30												Year-to-Date June 30
							Change												Change
		2010			2009			$		%				2010			2009		$		%
Interest Income
Interest and fees on loans and leases	$	1,525		$	1,336		$	189		14.1	%		$	2,965		$	2,658	$	307		11.6	%
Interest and dividends on securities		291			299			(8	)	(2.7	)			627			651		(24	)	(3.7	)
Interest on other earning assets		3			5			(2	)	(40.0	)			6			10		(4	)	(40.0	)
Total interest income		1,819			1,640			179		10.9				3,598			3,319		279		8.4
Interest Expense
Interest on deposits		241			320			(79	)	(24.7	)			500			666		(166	)	(24.9	)
Interest on federal funds purchased, securities sold under
repurchase agreements and short-term borrowed funds		6			17			(11	)	(64.7	)			11			40		(29	)	(72.5	)
Interest on long-term debt		212			165			47		28.5				413			329		84		25.5
Total interest expense		459			502			(43	)	(8.6	)			924			1,035		(111	)	(10.7	)
Net interest income		1,360			1,138			222		19.5				2,674			2,284		390		17.1
Provision for credit losses		650			701			(51	)	(7.3	)			1,225			1,377		(152	)	(11.0	)
Net interest income after provision for credit losses		710			437			273		62.5				1,449			907		542		59.8
Noninterest income
Insurance income		287			281			6		2.1				540			533		7		1.3
Service charges on deposits		164			168			(4	)	(2.4	)			328			324		4		1.2
Mortgage banking income		110			184			(74	)	(40.2	)			199			372		(173	)	(46.5	)
Investment banking and brokerage fees and commissions		91			92			(1	)	(1.1	)			170			174		(4	)	(2.3	)
Other nondeposit fees and commissions		63			53			10		18.9				128			106		22		20.8
Checkcard fees		70			57			13		22.8				131			106		25		23.6
Bankcard fees and merchant discounts		45			39			6		15.4				85			74		11		14.9
Trust and investment advisory revenues		39			33			6		18.2				77			65		12		18.5
Income from bank-owned life insurance		31			25			6		24.0				62			48		14		29.2
FDIC loss share income, net		(78	)		-			(78	)	NM				(73	)		-		(73	)	NM
Securities gains, net		219			19			200		NM				216			169		47		27.8
Other income		(2	)		42			(44	)	(104.8	)			20			53		(33	)	(62.3	)
Total noninterest income		1,039			993			46		4.6				1,883			2,024		(141	)	(7.0	)
Noninterest Expense
Personnel expense		649			623			26		4.2				1,295			1,223		72		5.9
Foreclosed property expense		240			60			180		NM				418			96		322		NM
Occupancy and equipment expense		158			128			30		23.4				296			257		39		15.2
Professional services		86			64			22		34.4				158			117		41		35.0
Regulatory charges		46			106			(60	)	(56.6	)			91			139		(48	)	(34.5	)
Loan processing expense		47			34			13		38.2				82			63		19		30.2
Amortization of intangibles		32			24			8		33.3				64			49		15		30.6
Merger-related and restructuring charges, net		38			(1	)		39		NM				55			11		44		NM
Other expenses		204			143			61		42.7				382			295		87		29.5
Total noninterest expense		1,500			1,181			319		27.0				2,841			2,250		591		26.3
Earnings
Income before income taxes		249			249			-		-				491			681		(190	)	(27.9	)
Provision for income taxes		25			41			(16	)	(39.0	)			73			155		(82	)	(52.9	)
Net Income		224			208			16		7.7				418			526		(108	)	(20.5	)
Noncontrolling interest		14			4			10		NM				20			10		10		100.0
Dividends and accretion on preferred stock		-			83			(83	)	(100.0	)			-			124		(124	)	(100.0	)
Net income available to common shareholders	$	210		$	121		$	89		73.6			$	398		$	392	$	6		1.5	%
Earnings Per Common Share
Basic	$	.30		$	.20		$	.10		50.0		%	$	.58		$	.67	$	(.09	)	(13.4	) %
Diluted		.30			.20			.10		50.0				.57			.67		(.10	)	(14.9	)
Weighted Average Shares Outstanding
Basic		692,113		602,726				89,387		14.8				691,456			581,382		110,074		18.9
Diluted		701,322		608,797				92,525		15.2				700,223			586,256		113,967		19.4
NM - not meaningful.

5

BB&T Corporation
Consolidated Statements of Income - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)

		Quarter Ended
	June 30			March 31			Dec. 31			Sept. 30			June 30
		2010			2010			2009			2009			2009
Interest Income
Interest and fees on loans and leases	$	1,525		$	1,440		$	1,475		$	1,414		$	1,336
Interest and dividends on securities		291			336			341			327			299
Interest on other earning assets		3			3			4			4			5
Total interest income		1,819			1,779			1,820			1,745			1,640
Interest Expense
Interest on deposits		241			259			294			311			320
Interest on federal funds purchased, securities sold under
repurchase agreements and short-term borrowed funds		6			5			7			11			17
Interest on long-term debt		212			201			196			186			165
Total interest expense		459			465			497			508			502
Net interest income		1,360			1,314			1,323			1,237			1,138
Provision for credit losses		650			575			725			709			701
Net interest income after provision for credit losses		710			739			598			528			437
Noninterest income
Insurance income		287			253			260			254			281
Service charges on deposits		164			164			186			180			168
Mortgage banking income		110			89			142			144			184
Investment banking and brokerage fees and commissions		91			79			83			89			92
Other nondeposit fees and commissions		63			65			64			59			53
Checkcard fees		70			61			62			59			57
Bankcard fees and merchant discounts		45			40			41			41			39
Trust and investment advisory revenues		39			38			38			36			33
Income from bank-owned life insurance		31			31			25			24			25
FDIC loss share income, net		(78	)		5			11			3			-
Securities (losses) gains, net		219			(3	)		(1	)		31			19
Other income		(2	)		22			59			20			42
Total noninterest income		1,039			844			970			940			993
Noninterest Expense
Personnel expense		649			646			650			644			623
Foreclosed property expense		240			178			142			118			60
Occupancy and equipment expense		158			138			173			149			128
Professional services		86			72			77			68			64
Regulatory charges		46			45			47			44			106
Loan processing expense		47			35			34			38			34
Amortization of intangibles		32			32			36			29			24
Merger-related and restructuring charges, net		38			17			9			18			(1	)
Other expenses		204			178			193			212			143
Total noninterest expense		1,500			1,341			1,361			1,320			1,181
Earnings
Income before income taxes		249			242			207			148			249
Provision for income taxes		25			48			13			(9	)		41
Net Income		224			194			194			157			208
Noncontrolling interest		14			6			9			5			4
Dividends and accretion on preferred stock		-			-			-			-			83
Net income available to common shareholders	$	210		$	188		$	185		$	152		$	121
Earnings Per Common Share
Basic	$	.30		$	.27		$	.27		$	.23		$	.20
Diluted		.30			.27			.27			.23			.20
Weighted Average Shares Outstanding
Basic		692,113			690,792			688,590			665,408			602,726
Diluted		701,322			698,675			696,038			672,457			608,797

6

BB&T Corporation
Consolidated Balance Sheets
(Dollars in millions)

		As of June 30,						Change
		2010			2009			$		%
Assets
Cash and due from banks	$	1,270		$	1,571		$	(301	)	(19.2	) %
Interest-bearing deposits with banks		931			416			515		123.8
Federal funds sold and securities purchased under
resale agreements or similar arrangements		308			247			61		24.7
Segregated cash due from banks		255			267			(12	)	(4.5	)
Trading securities at fair value		587			522			65		12.5
Securities available for sale at fair value (1)		23,662			30,553			(6,891	)	(22.6	)
Loans and leases:
Commercial loans and leases		49,054			50,364			(1,310	)	(2.6	)
Direct retail loans		13,939			14,577			(638	)	(4.4	)
Sales finance loans		6,863			6,536			327		5.0
Revolving credit loans		2,024			1,843			181		9.8
Mortgage loans		15,452			15,639			(187	)	(1.2	)
Specialized lending		7,954			7,393			561		7.6
Other acquired loans		85			-			85		NM
Total loans and leases held for investment (excluding
covered loans)		95,371			96,352			(981	)	(1.0	)
Covered loans		7,177			-			7,177		NM
Total loans and leases held for investment		102,548			96,352			6,196		6.4
Loans held for sale		2,171			3,982			(1,811	)	(45.5	)
Total loans and leases		104,719			100,334			4,385		4.4
Allowance for loan and lease losses		(2,723	)		(2,110	)		(613	)	29.1
FDIC loss share receivable		2,230			-			2,230		NM
Premises and equipment		1,835			1,577			258		16.4
Goodwill		6,067			5,491			576		10.5
Core deposit and other intangible assets		569			497			72		14.5
Residential mortgage servicing rights at fair value		665			615			50		8.1
Other assets (2)		14,708			12,418			2,290		18.4
Total assets	$	155,083		$	152,398		$	2,685		1.8	%
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	19,767		$	16,054		$	3,713		23.1	%
Interest checking		3,760			3,181			579		18.2
Other client deposits		49,989			43,632			6,357		14.6
Client certificates of deposit		27,599			25,472			2,127		8.4
Total client deposits		101,115			88,339			12,776		14.5
Other interest-bearing deposits		3,336			13,825			(10,489	)	(75.9	)
Total deposits		104,451			102,164			2,287		2.2
Fed funds purchased, repos and other borrowings		6,080			12,631			(6,551	)	(51.9	)
Long-term debt		22,086			18,110			3,976		22.0
Other liabilities		5,726			4,701			1,025		21.8
Total liabilities		138,343			137,606			737		0.5
Shareholders' equity:
Common stock		3,464			3,240			224		6.9
Additional paid-in capital		5,720			4,828			892		18.5
Retained earnings		7,729			7,409			320		4.3
Noncontrolling interest		64			45			19		42.2
Accumulated other comprehensive loss		(237	)		(730	)		493		(67.5	)
Total shareholders' equity		16,740			14,792			1,948		13.2
Total liabilities and shareholders' equity	$	155,083		$	152,398		$	2,685		1.8	%

(1)	Includes $1.4 billion covered by FDIC loss sharing agreements at June 30, 2010.
(2)	Includes $215 million of foreclosed property and other assets covered by FDIC loss sharing agreements at June 30, 2010.

7

BB&T Corporation
Consolidated Balance Sheets - Five Quarter Trend
(Dollars in millions)

	As of
	June 30			March 31			Dec. 31			Sept. 30			June 30
		2010			2010			2009			2009			2009
Assets
Cash and due from banks	$	1,270		$	1,265		$	1,584		$	1,292		$	1,571
Interest-bearing deposits with banks		931			574			667			579			416
Federal funds sold and securities purchased under
resale agreements or similar arrangements		308			399			398			520			247
Segregated cash due from banks		255			269			270			286			267
Trading securities at fair value		587			651			636			686			522
Securities available for sale at fair value (1)		23,662			32,654			33,253			33,477			30,553
Loans and leases:
Commercial loans and leases		49,054			49,304			49,820			49,591			50,364
Direct retail loans		13,939			14,055			14,283			14,482			14,577
Sales finance loans		6,863			6,555			6,290			6,493			6,536
Revolving credit loans		2,024			1,981			2,016			1,929			1,843
Mortgage loans		15,452			15,498			15,435			15,463			15,639
Specialized lending		7,954			7,394			7,670			7,497			7,393
Other acquired loans		85			99			123			141			-
Total loans and leases held for investment (excludingcovered loans)		95,371			94,886			95,637			95,596			96,352
Covered loans		7,177			7,458			8,019			8,305			-
Total loans and leases held for investment		102,548			102,344			103,656			103,901			96,352
Loans held for sale		2,171			2,057			2,551			3,126			3,982
Total loans and leases		104,719			104,401			106,207			107,027			100,334
Allowance for loan and lease losses		(2,723	)		(2,714	)		(2,600	)		(2,379	)		(2,110	)
FDIC loss share receivable		2,230			2,611			3,062			3,336			-
Premises and equipment		1,835			1,798			1,583			1,591			1,577
Goodwill		6,067			6,055			6,053			6,183			5,491
Core deposit and other intangible assets		569			601			640			645			497
Residential mortgage servicing rights at fair value		665			875			832			639			615
Other assets (2)		14,708			14,261			13,179			11,446			12,418
Total assets	$	155,083		$	163,700		$	165,764		$	165,328		$	152,398
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing deposits	$	19,767		$	19,022		$	18,945		$	18,673		$	16,054
Interest checking		3,760			3,504			3,420			3,621			3,181
Other client deposits		49,989			51,897			52,097			48,878			43,632
Client certificates of deposit		27,599			29,686			32,298			32,553			25,472
Total client deposits		101,115			104,109			106,760			103,725			88,339
Other interest-bearing deposits		3,336			9,614			8,205			10,785			13,825
Total deposits		104,451			113,723			114,965			114,510			102,164
Fed funds purchased, repos and other borrowings		6,080			7,020			8,106			8,357			12,631
Long-term debt		22,086			21,428			21,376			21,317			18,110
Other liabilities		5,726			5,001			5,076			5,002			4,701
Total liabilities		138,343			147,172			149,523			149,186			137,606
Shareholders' equity:
Common stock		3,464			3,459			3,449			3,437			3,240
Additional paid-in capital		5,720			5,677			5,620			5,563			4,828
Retained earnings		7,729			7,624			7,539			7,458			7,409
Noncontrolling interest		64			60			50			48			45
Accumulated other comprehensive loss		(237	)		(292	)		(417	)		(364	)		(730	)
Total shareholders' equity		16,740			16,528			16,241			16,142			14,792
Total liabilities and shareholders' equity	$	155,083		$	163,700		$	165,764		$	165,328		$	152,398

(1)	Includes $1.4 billion, $1.3 billion, $1.2 billion and $1.2 billion at June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively, covered by FDIC loss sharing agreements.
(2)	Includes $215 million, $229 million, $215 million and $210 million of foreclosed property and other assets covered by FDIC loss sharing agreements at June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively.

8

BB&T Corporation
Average Balance Sheets
(Dollars in millions)

		Quarter Ended									Year-to-Date
		June 30				Change					June 30				Change
		2010		2009		$		%			2010		2009		$		%
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE)	$	554	$	1,170	$	(616	)	(52.6	) %	$	1,092	$	1,126	$	(34	)	(3.0	) %
Mortgage-backed securities issued by GSE		23,080		24,295		(1,215	)	(5.0	)		24,810		24,714		96		0.4
States and political subdivisions		2,077		2,259		(182	)	(8.1	)		2,092		2,270		(178	)	(7.8	)
Non-agency mortgage-backed securities		1,214		1,475		(261	)	(17.7	)		1,262		1,509		(247	)	(16.4	)
Other securities		192		311		(119	)	(38.3	)		196		385		(189	)	(49.1	)
Covered securities		1,192		-		1,192		NM			1,184		-		1,184		NM
Total securities		28,309		29,510		(1,201	)	(4.1	)		30,636		30,004		632		2.1
Other earning assets		3,101		2,069		1,032		49.9			2,893		2,087		806		38.6
Loans and leases
Commercial loans and leases		49,079		50,342		(1,263	)	(2.5	)		49,229		50,486		(1,257	)	(2.5	)
Direct retail loans		13,994		14,785		(791	)	(5.4	)		14,079		15,022		(943	)	(6.3	)
Sales finance loans		6,729		6,302		427		6.8			6,568		6,322		246		3.9
Revolving credit loans		2,002		1,802		200		11.1			1,997		1,785		212		11.9
Mortgage loans		15,586		16,002		(416	)	(2.6	)		15,522		16,378		(856	)	(5.2	)
Specialized lending		7,645		6,985		660		9.4			7,562		6,739		823		12.2
Other acquired loans		96		-		96		NM			102		-		102		NM
Total loans and leases held for investment (excluding
covered loans)		95,131		96,218		(1,087	)	(1.1	)		95,059		96,732		(1,673	)	(1.7	)
Covered loans		7,162		-		7,162		NM			7,401		-		7,401		NM
Total loans and leases held for investment		102,293		96,218		6,075		6.3			102,460		96,732		5,728		5.9
Loans held for sale		1,671		3,359		(1,688	)	(50.3	)		1,754		2,918		(1,164	)	(39.9	)
Total loans and leases		103,964		99,577		4,387		4.4			104,214		99,650		4,564		4.6
Total earning assets		135,374		131,156		4,218		3.2			137,743		131,741		6,002		4.6
Non-earning assets		24,412		17,340		7,072		40.8			24,042		17,441		6,601		37.8
Total assets	$	159,786	$	148,496	$	11,290		7.6	%	$	161,785	$	149,182	$	12,603		8.4	%
Liabilities and Shareholders' Equity
Deposits
Noninterest-bearing deposits	$	19,346	$	15,443	$	3,903		25.3	%	$	18,907	$	14,640	$	4,267		29.1	%
Interest checking		3,905		2,670		1,235		46.3			3,826		2,566		1,260		49.1
Other client deposits		50,207		41,926		8,281		19.8			50,955		41,317		9,638		23.3
Client certificates of deposit		28,745		25,888		2,857		11.0			29,784		26,512		3,272		12.3
Total client deposits		102,203		85,927		16,276		18.9			103,472		85,035		18,437		21.7
Other interest-bearing deposits		4,857		8,458		(3,601	)	(42.6	)		5,563		9,126		(3,563	)	(39.0	)
Total deposits		107,060		94,385		12,675		13.4			109,035		94,161		14,874		15.8
Fed funds purchased, repos and other borrowings		9,105		14,732		(5,627	)	(38.2	)		9,653		15,762		(6,109	)	(38.8	)
Long-term debt		21,660		17,755		3,905		22.0			21,441		17,596		3,845		21.9
Other liabilities		5,036		4,941		95		1.9			4,879		5,117		(238	)	(4.7	)
Total liabilities		142,861		131,813		11,048		8.4			145,008		132,636		12,372		9.3
Shareholders' equity		16,925		16,683		242		1.5			16,777		16,546		231		1.4
Total liabilities and shareholders' equity	$	159,786	$	148,496	$	11,290		7.6	%	$	161,785	$	149,182	$	12,603		8.4	%
Average balances exclude basis adjustments for fair value hedges.

9

BB&T Corporation
Average Balance Sheets - Five Quarter Trend
(Dollars in millions)

	Quarter Ended
	June 30		March 31			Dec. 31		Sept. 30		June 30
	2010			2010		2009		2009		2009
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE)	$	554	$	1,636	$	2,162	$	1,180	$	1,170
Mortgage-backed securities issued by GSE		23,080		26,558		26,332		25,892		24,295
States and political subdivisions		2,077		2,107		2,141		2,190		2,259
Non-agency mortgage-backed securities		1,214		1,311		1,361		1,411		1,475
Other securities		192		202		194		252		311
Covered securities		1,192		1,175		1,161		586		-
Total securities		28,309		32,989		33,351		31,511		29,510
Other earning assets		3,101		2,681		2,655		2,331		2,069
Loans and leases
Commercial loans and leases		49,079		49,380		49,419		49,916		50,342
Direct retail loans		13,994		14,165		14,379		14,507		14,785
Sales finance loans		6,729		6,406		6,393		6,528		6,302
Revolving credit loans		2,002		1,991		1,961		1,886		1,802
Mortgage loans		15,586		15,459		15,452		15,515		16,002
Specialized lending		7,645		7,479		7,533		7,542		6,985
Other acquired loans		96		108		133		75		-
Total loans and leases held for investment (excluding
covered loans)		95,131		94,988		95,270		95,969		96,218
Covered loans		7,162		7,642		8,095		4,380		-
Total loans and leases held for investment		102,293		102,630		103,365		100,349		96,218
Loans held for sale		1,671		1,838		2,504		2,985		3,359
Total loans and leases		103,964		104,468		105,869		103,334		99,577
Total earning assets		135,374		140,138		141,875		137,176		131,156
Non-earning assets		24,412		23,669		22,844		20,275		17,340
Total assets	$	159,786	$	163,807	$	164,719	$	157,451	$	148,496
Liabilities and Shareholders' Equity
Deposits
Noninterest-bearing deposits	$	19,346	$	18,464	$	18,822	$	17,389	$	15,443
Interest checking		3,905		3,745		3,419		2,762		2,670
Other client deposits		50,207		51,712		50,623		47,046		41,926
Client certificates of deposit		28,745		30,833		32,562		29,152		25,888
Total client deposits		102,203		104,754		105,426		96,349		85,927
Other interest-bearing deposits		4,857		6,277		8,196		10,961		8,458
Total deposits		107,060		111,031		113,622		107,310		94,385
Fed funds purchased, repos and other borrowings		9,105		10,207		8,584		9,964		14,732
Long-term debt		21,660		21,221		21,232		19,867		17,755
Other liabilities		5,036		4,721		4,945		4,773		4,941
Total liabilities		142,861		147,180		148,383		141,914		131,813
Shareholders' equity		16,925		16,627		16,336		15,537		16,683
Total liabilities and shareholders' equity	$	159,786	$	163,807	$	164,719	$	157,451	$	148,496
Average balances exclude basis adjustments for fair value hedges.

10

BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)

					Quarter Ended
		June 30, 2010						March 31, 2010
			Interest						Interest
		Average	Income/		Yields/		Average		Income/		Yields/
		Balances (1)	Expense		Rates (2)		Balances (1)		Expense		Rates (2)
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE)	$	554	$	5	3.68	%	$	1,636	$	15	3.61	%
Mortgage-backed securities issued by GSE		23,080		217	3.77			26,558		254	3.82
States and political subdivisions		2,077		28	5.45			2,107		28	5.38
Non-agency mortgage-backed securities		1,214		18	5.84			1,311		19	5.80
Other securities		192		1	2.43			202		1	2.13
Covered securities		1,192		35	11.65			1,175		34	11.60
Total securities		28,309		304	4.30			32,989		351	4.26
Other earning assets		3,101		4	.57			2,681		3	.53
Loans and leases
Commercial loans and leases		49,079		514	4.21			49,380		518	4.25
Direct retail loans		13,994		185	5.31			14,165		187	5.34
Sales finance loans		6,729		100	6.01			6,406		100	6.31
Revolving credit loans		2,002		44	8.69			1,991		44	9.04
Mortgage loans		15,586		215	5.51			15,459		213	5.51
Specialized lending		7,645		221	11.59			7,479		211	11.40
Other acquired loans		96		3	10.63			108		3	12.49
Total loans and leases held for investment (excludingcovered loans)		95,131		1,282	5.40			94,988		1,276	5.43
Covered loans		7,162		242	13.52			7,642		162	8.61
Total loans and leases held for investment		102,293		1,524	5.97			102,630		1,438	5.67
Loans held for sale		1,671		20	4.73			1,838		21	4.68
Total loans and leases		103,964		1,544	5.95			104,468		1,459	5.65
Total earning assets		135,374		1,852	5.48			140,138		1,813	5.22
Non-earning assets		24,412						23,669
Total assets	$	159,786					$	163,807
Liabilities and Shareholders' Equity
Interest-bearing liabilities
Interest checking	$	3,905		3	.31		$	3,745		3	.36
Other client deposits		50,207		81	.65			51,712		90	.70
Client certificates of deposit		28,745		144	2.01			30,833		152	2.00
Other interest-bearing deposits		4,857		13	1.06			6,277		14	.93
Total interest-bearing deposits		87,714		241	1.10			92,567		259	1.14
Fed funds purchased, repos and other borrowings		9,105		7	.31			10,207		6	.23
Long-term debt		21,660		212	3.92			21,221		201	3.82
Total interest-bearing liabilities		118,479		460	1.56			123,995		466	1.52
Noninterest-bearing deposits		19,346						18,464
Other liabilities		5,036						4,721
Shareholders' equity		16,925						16,627
Total liabilities and shareholders' equity	$	159,786					$	163,807
Average interest-rate spread					3.92						3.70
Net interest income/ net interest margin			$	1,392	4.12	%			$	1,347	3.88	%
Taxable-equivalent adjustment			$	32					$	33

(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.

11

BB&T Corporation
Average Balances and Rates - Quarters
(Dollars in millions)

		Quarter Ended
		December 31, 2009						September 30, 2009						June 30, 2009
			Interest							Interest						Interest
	Average		Income/		Yields/			Average		Income/	Yields/			Average		Income/	Yields/
	Balances (1)		Expense		Rates (2)			Balances (1)		Expense	Rates (2)			Balances (1)		Expense	Rates (2)
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE)	$	2,162	$	19	3.59	%	$	1,180	$	12	3.75	%	$	1,170	$	11	4.02	%
Mortgage-backed securities issued by GSE		26,332		255	3.87			25,892		256	3.97			24,295		246	4.04
States and political subdivisions		2,141		29	5.42			2,190		31	5.52			2,259		32	5.76
Non-agency mortgage-backed securities		1,361		20	5.81			1,411		20	5.81			1,475		22	5.83
Other securities		194		2	3.73			252		2	2.75			311		3	3.73
Covered securities		1,161		33	11.43			586		17	11.46			-		-	-
Total securities		33,351		358	4.29			31,511		338	4.28			29,510		314	4.26
Other earning assets		2,655		4	.57			2,331		4	.77			2,069		5	.92
Loans and leases
Commercial loans and leases		49,419		525	4.22			49,916		540	4.29			50,342		534	4.25
Direct retail loans		14,379		195	5.38			14,507		199	5.43			14,785		200	5.44
Sales finance loans		6,393		103	6.42			6,528		107	6.49			6,302		102	6.45
Revolving credit loans		1,961		45	9.30			1,886		45	9.44			1,802		43	9.45
Mortgage loans		15,452		213	5.51			15,515		222	5.72			16,002		230	5.75
Specialized lending		7,533		215	11.34			7,542		211	11.15			6,985		203	11.64
Other acquired loans		133		4	11.01			75		2	10.46			-		-	-
Total loans and leases held for investment (excluding
covered loans)		95,270		1,300	5.43			95,969		1,326	5.49			96,218		1,312	5.46
Covered loans		8,095		161	7.91			4,380		71	6.45			-		-	-
Total loans and leases held for investment		103,365		1,461	5.62			100,349		1,397	5.53			96,218		1,312	5.46
Loans held for sale		2,504		30	4.85			2,985		37	4.94			3,359		39	4.70
Total loans and leases		105,869		1,491	5.60			103,334		1,434	5.52			99,577		1,351	5.44
Total earning assets		141,875		1,853	5.20			137,176		1,776	5.15			131,156		1,670	5.10
Non-earning assets		22,844						20,275						17,340
Total assets	$	164,719					$	157,451					$	148,496
Liabilities and Shareholders' Equity
Interest-bearing liabilities
Interest checking	$	3,419		4	.42		$	2,762		3	.42		$	2,670		2	.34
Other client deposits		50,623		106	.83			47,046		102	.86			41,926		93	.89
Client certificates of deposit		32,562		165	2.01			29,152		177	2.41			25,888		196	3.03
Other interest-bearing deposits		8,196		19	.95			10,961		29	1.05			8,458		29	1.37
Total interest-bearing deposits		94,800		294	1.23			89,921		311	1.37			78,942		320	1.63
Fed funds purchased, repos and other borrowings		8,584		8	.34			9,964		12	.48			14,732		19	.52
Long-term debt		21,232		196	3.70			19,867		186	3.73			17,755		164	3.70
Total interest-bearing liabilities		124,616		498	1.59			119,752		509	1.69			111,429		503	1.81
Noninterest-bearing deposits		18,822						17,389						15,443
Other liabilities		4,945						4,773						4,941
Shareholders' equity		16,336						15,537						16,683
Total liabilities and shareholders' equity	$	164,719					$	157,451					$	148,496
Average interest-rate spread					3.61						3.46						3.29
Net interest income/ net interest margin (3)			$	1,355	3.80	%			$	1,267	3.68	%			$	1,167	3.56	%
Taxable-equivalent adjustment			$	32					$	30					$	29

Applicable ratios are annualized.
(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.
(3)	The net interest margin for the fourth quarter 2009 was 3.78% excluding the $9 million adjustment related to the Colonial loan revaluation.

12

BB&T Corporation
Average Balances and Rates - Year-To-Date
(Dollars in millions)

		Year-to-Date
		June 30, 2010						June 30, 2009
			Interest						Interest
		Average	Income/		Yields/		Average		Income/		Yields/
		Balances (1)	Expense		Rates (2)		Balances (1)		Expense		Rates (2)
Assets
Securities, at amortized cost
U.S. government-sponsored entities (GSE)	$	1,092	$	20	3.63	%	$	1,126	$	23	4.16	%
Mortgage-backed securities issued by GSE		24,810		471	3.80			24,714		541	4.37
States and political subdivisions		2,092		56	5.41			2,270		66	5.85
Non-agency mortgage-backed securities		1,262		37	5.82			1,509		44	5.83
Other securities		196		2	2.28			385		8	4.31
Covered securities		1,184		69	11.62			-		-	-
Total securities		30,636		655	4.28			30,004		682	4.55
Other earning assets		2,893		7	.56			2,087		10	.94
Loans and leases
Commercial loans and leases		49,229		1,032	4.23			50,486		1,045	4.17
Direct retail loans		14,079		372	5.33			15,022		412	5.53
Sales finance loans		6,568		200	6.15			6,322		203	6.46
Revolving credit loans		1,997		88	8.86			1,785		86	9.66
Mortgage loans		15,522		428	5.51			16,378		476	5.82
Specialized lending		7,562		432	11.50			6,739		396	11.81
Other acquired loans		102		6	11.61			-		-	-
Total loans and leases held for investment (excluding
covered loans)		95,059		2,558	5.42			96,732		2,618	5.45
Covered loans		7,401		404	11.00			-		-	-
Total loans and leases held for investment		102,460		2,962	5.82			96,732		2,618	5.45
Loans held for sale		1,754		41	4.71			2,918		69	4.73
Total loans and leases		104,214		3,003	5.80			99,650		2,687	5.43
Total earning assets		137,743		3,665	5.35			131,741		3,379	5.15
Non-earning assets		24,042						17,441
Total assets	$	161,785					$	149,182
Liabilities and Shareholders' Equity
Interest-bearing liabilities
Interest checking	$	3,826		6	.33		$	2,566		4	.34
Other client deposits		50,955		171	.68			41,317		190	.93
Client certificates of deposit		29,784		296	2.00			26,512		405	3.08
Other interest-bearing deposits		5,563		27	.99			9,126		67	1.47
Total interest-bearing deposits		90,128		500	1.12			79,521		666	1.69
Fed funds purchased, repos and other borrowings		9,653		13	.27			15,762		43	.56
Long-term debt		21,441		413	3.87			17,596		329	3.75
Total interest-bearing liabilities		121,222		926	1.54			112,879		1,038	1.85
Noninterest-bearing deposits		18,907						14,640
Other liabilities		4,879						5,117
Shareholders' equity		16,777						16,546
Total liabilities and shareholders' equity	$	161,785					$	149,182
Average interest-rate spread					3.81						3.30
Net interest income/ net interest margin			$	2,739	4.00				$	2,341	3.57
Taxable-equivalent adjustment			$	65					$	57

Applicable ratios are annualized.
(1)	Excludes basis adjustments for fair value hedges.
(2)	Yields are on a fully taxable-equivalent basis.

13

BB&T Corporation
Credit Quality
(Dollars in millions)

		As of/For the Quarter Ended
	June 30		March 31			Dec. 31	Sept. 30		June 30
	2010		2010			2009	2009		2009
Nonperforming assets (1)
Nonaccrual loans and leases
Commercial loans and leases (7)	$	2,075	$	1,788	$	1,651	$	1,610	$	1,252
Direct retail loans		234		219		197		187		144
Sales finance loans		6		5		7		7		6
Mortgage loans (7)(8)		387		807		762		662		590
Specialized lending		68		69		96		103		94
Total nonaccrual loans and leases held for investment		2,770		2,888		2,713		2,569		2,086
Loans held for sale		129		6		5		4		5
Foreclosed real estate		1,391		1,524		1,451		1,326		1,201
Other foreclosed property		37		46		58		53		48
Total nonperforming assets (excluding covered assets) (2)	$	4,327	$	4,464	$	4,227	$	3,952	$	3,340
Performing troubled debt restructurings (TDRs) (3)
Commercial loans and leases	$	1,099	$	969	$	413	$	68	$	54
Direct retail loans		133		130		132		116		95
Revolving credit loans		60		58		54		51		47
Mortgage loans		668		557		471		302		206
Specialized lending		4		1		-		-		-
Total performing TDRs	$	1,964	$	1,715	$	1,070	$	537	$	402
Loans 90 days or more past due and still accruing (4)
Commercial loans and leases	$	22	$	14	$	7	$	13	$	4
Direct retail loans		69		67		82		79		87
Sales finance loans		28		27		30		24		22
Revolving credit loans		20		23		25		23		24
Mortgage loans (8)(9)		209		155		158		172		179
Specialized lending		7		10		12		10		13
Other acquired loans		5		6		5		2		-
Total loans 90 days past due and still accruing (excluding covered
loans) (5)	$	360	$	302	$	319	$	323	$	329
Loans 30-89 days past due (4)
Commercial loans and leases	$	431	$	516	$	377	$	365	$	422
Direct retail loans		188		203		216		205		191
Sales finance loans		95		94		126		127		111
Revolving credit loans		28		30		32		32		29
Mortgage loans (9)		561		555		623		664		681
Specialized lending		225		200		306		298		269
Other acquired loans		2		3		6		1		-
Total loans 30-89 days past due (excluding covered loans) (6)	$	1,530	$	1,601	$	1,686	$	1,692	$	1,703

(1)	Covered and other acquired loans are considered to be performing due to the application of the accretion method. Covered loans that are contractually past due are noted in the footnotes below.
(2)	Excludes foreclosed real estate totaling $176 million, $181 million, $160 million and $151 million at June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively, that are covered by FDIC loss sharing agreements.
(3)	Excludes TDRs that are nonperforming totaling $480 million, $333 million, $248 million, $108 million and $49 million at June 30, 2010, March 31, 2010, December 31, 2009, September 30, 2009 and June 30, 2009, respectively. These amounts are included in total nonperforming assets. Amounts also exclude restructured covered and other acquired loans accounted for under the accretion method.
(4)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.
(5)	Excludes loans past due 90 days or more that are covered by FDIC loss sharing agreements totaling $1.5 billion at June 30, 2010, $1.4 billion at March 31, 2010 and December 31, 2009 and $945 million at September 30, 2009.
(6)	Excludes loans totaling $429 million, $356 million, $391 million and $564 million past due 30-89 days at June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively, that are covered by FDIC loss sharing agreements.
(7)	Includes a reduction of $44 million in commercial loans and leases and $375 million in mortgage loans during the second quarter of 2010 in connection with BB&T's NPA disposition strategy.
(8)	BB&T revised its nonaccrual policy related to FHA/VA guaranteed mortgage loans during the second quarter of 2010. The change in policy resulted in a decrease in nonaccrual mortgage loans and an increase in mortgage loans 90 days past due and still accruing of approximately $79 million. During the fourth quarter of 2009, BB&T revised its policy related to the reclassification of mortgage loans from nonaccrual to accrual status resulting in an increase of approximately $120 million in nonaccrual mortgage loans.
(9)	Includes past due mortgage loans held for sale.

14

BB&T Corporation
Credit Quality
(Dollars in millions)

		As of/For the Quarter Ended
		June 30			March 31		Dec. 31			Sept. 30				June 30
		2010			2010		2009			2009				2009
Allowance for credit losses
Beginning balance	$	2,759		$	2,672		$	2,478		$	2,145		$	1,895
Provision for credit losses (excluding covered loans)		652			556			725			709			701
Provision for covered loans		(2	)		19			-			-			-
Charge-offs
Commercial loans and leases (1)		(277	)		(224	)		(238	)		(204	)		(134	)
Direct retail loans		(82	)		(86	)		(79	)		(68	)		(134	)
Sales finance loans		(10	)		(16	)		(17	)		(14	)		(19	)
Revolving credit loans		(31	)		(31	)		(32	)		(32	)		(33	)
Mortgage loans (1)		(207	)		(77	)		(76	)		(77	)		(78	)
Specialized lending		(64	)		(75	)		(75	)		(73	)		(74	)
Total charge-offs		(671	)		(509	)		(517	)		(468	)		(472	)
Recoveries
Commercial loans and leases (2)		8			7			9			5			4
Direct retail loans		6			12			7			4			4
Sales finance loans		2			3			2			3			2
Revolving credit loans		4			4			3			3			3
Mortgage loans		1			1			2			2			1
Specialized lending		8			7			6			5			7
Total recoveries		29			34			29			22			21
Net charge-offs		(642	)		(475	)		(488	)		(446	)		(451	)
Other changes		(14	)		(13	)		(43	)		70			-
Ending balance	$	2,753		$	2,759		$	2,672		$	2,478		$	2,145
Allowance for credit losses
Allowance for loan and lease losses (excluding covered loans)	$	2,706		$	2,695		$	2,600		$	2,379		$	2,110
Allowance for covered loans		17			19			-			-			-
Reserve for unfunded lending commitments		30			45			72			99			35
Total	$	2,753		$	2,759		$	2,672		$	2,478		$	2,145
											As of/For the
											Six Months Ended
											June 30,
											2010			2009
Allowance for credit losses
Beginning balance										$	2,672		$	1,607
Provision for credit losses (excluding covered loans)											1,208			1,377
Provision for covered loans											17			-
Charge-offs
Commercial loans and leases (1)											(501	)		(278	)
Direct retail loans											(168	)		(202	)
Sales finance loans											(26	)		(41	)
Revolving credit loans											(62	)		(63	)
Mortgage loans (1)											(284	)		(127	)
Specialized lending											(139	)		(166	)
Total charge-offs											(1,180	)		(877	)
Recoveries
Commercial loans and leases (2)											15			7
Direct retail loans											18			8
Sales finance loans											5			4
Revolving credit loans											8			6
Mortgage loans											2			1
Specialized lending											15			12
Total recoveries											63			38
Net charge-offs											(1,117	)		(839	)
Other changes											(27	)		-
Ending balance										$	2,753		$	2,145
Allowance for credit losses
Allowance for loan and lease losses										$	2,706		$	2,110
Allowance for covered loans											17			-
Reserve for unfunded lending commitments											30			35
Total										$	2,753		$	2,145

(1)	Includes charge-offs of $9 million in commercial loans and leases and $141 million in mortgage loans during the second quarter of 2010 in connection with BB&T's NPA disposition strategy.
(2)	Includes recoveries of $2 million in commercial loans and leases during the second quarter of 2010 in connection with BB&T's NPA disposition strategy.

15

BB&T Corporation
Credit Quality

	As of/For the Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2010		2010		2009		2009		2009
Asset Quality Ratios (including amounts related to covered loans
and covered foreclosed property)
Loans 30-89 days past due and still accruing as a
percentage of total loans and leases (1)	1.87	%	1.87	%	1.96	%	2.11	%	1.70	%
Loans 90 days or more past due and still accruing
as a percentage of total loans and leases (1)	1.82		1.66		1.61		1.18		.33
Nonperforming loans and leases as a
percentage of total loans and leases	2.77		2.77		2.56		2.40		2.08
Nonperforming assets as a percentage of:
Total assets	2.90		2.84		2.65		2.48		2.19
Loans and leases plus foreclosed property	4.24		4.38		4.07		3.78		3.29
Net charge-offs as a percentage of average loans and leases	2.48		1.84		1.83		1.71		1.81
Allowance for loan and lease losses as a percentage of
loans and leases held for investment	2.66		2.65		2.51		2.29		2.19
Ratio of allowance for loan and lease losses to:
Net charge-offs	1.06	X	1.41	X	1.34	X	1.35	X	1.17	X
Nonperforming loans and leases held for investment	.98		.94		.96		.93		1.01
Asset Quality Ratios (excluding amounts related to covered loans
and covered foreclosed property) (2)
Loans 30-89 days past due and still accruing as a
percentage of total loans and leases (1)	1.57	%	1.65	%	1.72	%	1.71	%	1.70	%
Loans 90 days or more past due and still accruing
as a percentage of total loans and leases (1)	.37		.31		.32		.33		.33
Nonperforming loans and leases as a
percentage of total loans and leases	2.97		2.99		2.77		2.61		2.08
Nonperforming assets as a percentage of:
Total assets	2.93		2.86		2.68		2.52		2.19
Loans and leases plus foreclosed property	4.37		4.53		4.24		3.95		3.29
Net charge-offs as a percentage of average loans and leases (3)	2.66		1.99		1.98		1.79		1.81
Allowance for loan and lease losses as a percentage of
loans and leases held for investment	2.84		2.84		2.72		2.49		2.19
Ratio of allowance for loan and lease losses to:
Net charge-offs	1.05	X	1.40	X	1.34	X	1.35	X	1.17	X
Nonperforming loans and leases held for investment	.98		.93		.96		.93		1.01
							As of/For the
							Six Months Ended
							June 30,
							2010		2009
Asset Quality Ratios
Including covered loans:
Net charge-offs as a percentage of average loans and leases							2.16	%	1.70	%
Ratio of allowance for loan and lease losses to net charge-offs							1.21	X	1.25	X
Excluding covered loans:
Net charge-offs as a percentage of average loans and leases (3)							2.33	%	1.70	%
Ratio of allowance for loan and lease losses to net charge-offs							1.20	X	1.25	X

(1)	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.
(2)	These asset quality ratios have been adjusted to remove the impact of covered loans and covered foreclosed property. Appropriate adjustments to the numerator and denominator have been reflected in the calculation of these ratios. Management believes the inclusion of acquired loans in certain asset quality ratios that include nonperforming assets, past due loans or net charge-offs in the numerator or denominator results in distortion of these ratios and they may not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting.
(3)	Excluding the impact of losses and balances associated with BB&T's NPA disposition strategy, the adjusted net charge-offs ratio would have been 2.06% and 2.02% for the second quarter of 2010 and the six months ended June 30, 2010, respectively.

16

BB&T Corporation
Credit Quality - Supplemental Schedules
(Dollars in millions, except average loan and average client size) 

SUPPLEMENTAL COMMERCIAL REAL ESTATE LOAN PORTFOLIO INFORMATION (1)
RESIDENTIAL ACQUISITION, DEVELOPMENT, AND CONSTRUCTION LOANS (ADC)
		As of / For the Period Ended June 30, 2010
		Builder /	Land / Land				Condos /
		Construction	Development				Townhomes			Total ADC
Total loans outstanding	$	1,319	$	3,200		$	288		$	4,807
Average loan size (in thousands)		239		568			1,216			422
Average client size (in thousands)		568		991			2,538			852
Nonaccrual loans and leases as a percentage of category		17.34	%	19.40	%		17.75	%		18.74	%
Gross charge-offs as a percentage of category:
Year-to-Date		6.51		12.34			5.88			10.30
Quarter-to-Date		7.93		15.67			6.96			12.98
		As of / For the Period Ended June 30, 2010
							Gross Charge-Offs as a Percentage of
							Outstandings
			Nonaccrual as a
RESIDENTIAL ACQUISITION, DEVELOPMENT, AND		Total	Percentage of
CONSTRUCTION LOANS (ADC) BY STATE OF ORIGINATION		Outstandings	Outstandings				Year-to-Date			Quarter-to-Date
North Carolina	$	2,048		12.89	%		4.57	%		5.14	%
Virginia		765		9.54			7.68			12.75
Georgia		514		35.20			25.53			31.50
South Carolina		473		23.62			4.87			6.89
Florida		312		36.36			27.06			32.53
Washington, D.C.		167		35.85			26.69			45.56
Tennessee		149		15.63			8.19			2.18
Kentucky		128		16.11			1.32			0.45
West Virginia		113		26.05			9.45			9.54
Maryland		73		4.65			-			-
Alabama		64		32.52			23.60			32.69
Other		1		-			-			-
Total	$	4,807		18.74	%		10.30	%		12.98	%
OTHER COMMERCIAL REAL ESTATE LOANS (2)
		As of / For the Period Ended June 30, 2010
							Permanent
			Commercial				Income			Total Other
		Commercial	Land/				Producing			Commercial
		Construction	Development				Properties			Real Estate
Total loans outstanding	$	1,178	$	1,848		$	9,475		$	12,501
Average loan size (in thousands)		1,138		738			508			563
Average client size (in thousands)		1,667		876			766			820
Nonaccrual loans and leases as a percentage of category		2.73	%	14.41	%		3.73	%		5.22	%
Gross charge-offs as a percentage of category:
Year-to-Date		1.39		4.33			1.08			1.62
Quarter-to-Date		1.53		2.33			1.34			1.51
		As of / For the Period Ended June 30, 2010
							Gross Charge-Offs as a Percentage of
							Outstandings
			Nonaccrual as a
OTHER COMMERCIAL REAL ESTATE LOANS BY STATE OF		Total	Percentage of
ORIGINATION (2)		Outstandings	Outstandings				Year-to-Date			Quarter-to-Date
North Carolina	$	3,778		4.82	%		1.29	%		1.22	%
Georgia		2,098		7.66			2.22			2.69
Virginia		1,960		0.83			0.42			0.39
South Carolina		974		2.70			0.93			0.47
Florida		912		17.96			5.45			4.53
Washington, D.C.		740		4.29			1.53			2.84
Maryland		561		0.47			-			-
West Virginia		461		3.34			1.19			1.07
Kentucky		444		3.89			0.75			0.20
Tennessee		392		6.62			3.80			0.84
Alabama		91		10.84			0.73			0.73
Other		90		-			3.26			1.42
Total	$	12,501		5.22	%		1.62	%		1.51	%

Applicable ratios are annualized.
(1)	Commercial real estate loans (CRE) are defined as loans to finance non-owner occupied real property where the primary repayment source is the sale or rental/lease of the real property. Definition is based on internal classification. Excludes covered loans and in process items.
(2)	C&I loans secured by real property are excluded.

17

BB&T Corporation
Credit Quality - Supplemental Schedules
(Dollars in millions, except average loan size)

SUPPLEMENTAL RESIDENTIAL MORTGAGE PORTFOLIO INFORMATION (1)
		As of / For the Period Ended June 30, 2010
						Construction/
RESIDENTIAL MORTGAGE LOANS		Prime			ALT-A	Permanent			Subprime (2)				Total
Total loans outstanding	$	12,234		$	2,332	$	638		$	508		$	15,712
Average loan size (in thousands)		199			315		320			62			198
Average refreshed credit score (3)		717			703		716			577			710
Percentage that are first mortgages		100	%		100	%	99	%		82	%		99	%
Average loan to value at origination		77			67		74			74			75
Nonaccrual loans and leases as a percentage of category		1.64			4.65		9.80			6.05			2.56
Gross charge-offs as a percentage of category:
Year-to-Date		2.54			6.81		5.65			11.45			3.69
Quarter-to-Date		3.64			10.68		5.23			17.93			5.32
		As of / For the Period Ended June 30, 2010
									Gross Charge-Offs as a Percentage of
										Outstandings
						Nonaccrual as a
				Total		Percentage of
RESIDENTIAL MORTGAGE LOANS BY STATE				Outstandings		Outstandings			Year-to-Date				Quarter-to-Date
North Carolina				$	3,870		1.59	%		1.83	%		2.96	%
Virginia					2,945		1.79			2.27			3.67
Florida					2,200		6.28			9.57			12.60
Maryland					1,570		1.51			3.50			6.03
Georgia					1,503		2.49			4.36			6.12
South Carolina					1,457		3.07			3.64			4.91
Kentucky					378		1.19			.70			1.05
West Virginia					330		1.12			.94			1.73
Tennessee					267		2.00			1.82			2.31
Washington, D.C.					203		1.84			1.17			2.02
Texas					188		.07			.36			.61
Alabama					164		2.65			5.55			8.93
Other					637		3.52			4.28			5.24
Total				$	15,712		2.56	%		3.69	%		5.32	%
SUPPLEMENTAL DIRECT RETAIL 1-4 FAMILY AND LOT/LAND REAL ESTATE PORTFOLIO INFORMATION (4)
				As of / For the Period Ended June 30, 2010
				Residential		Home Equity			Home Equity
DIRECT RETAIL 1-4 FAMILY AND LOT/LAND REAL ESTATE LOANS & LINES				Lot/Land Loans		Loans			Lines				Total
Total loans outstanding				$	1,542	$	5,847		$	5,603		$	12,992
Average loan size (in thousands) (5)					62		43			36			41
Average refreshed credit score (6)					720		720			761			744
Percentage that are first mortgages					100	%	75	%		27	%		57	%
Average loan to value at origination					80		64			65			65
Nonaccrual loans and leases as a percentage of category					7.65		1.44			.46			1.76
Gross charge-offs as a percentage of category:
Year-to-Date					7.55		1.60			1.51			2.30
Quarter-to-Date					7.98		1.56			1.42			2.28
		As of / For the Period Ended June 30, 2010
									Gross Charge-Offs as a Percentage of
									Outstandings
						Nonaccrual as a
DIRECT RETAIL 1-4 FAMILY AND LOT/LAND REAL ESTATE				Total		Percentage of
LOANS AND LINES BY STATE OF ORIGINATION				Outstandings		Outstandings				Year-to-Date		Quarter-to-Date
North Carolina				$	4,484		2.05	%		2.03	%		1.99	%
Virginia					2,920		.89			1.39			1.37
South Carolina					1,254		2.43			2.42			2.65
Georgia					1,050		2.23			3.86			3.56
Maryland					813		.94			2.65			2.59
West Virginia					791		1.51			1.13			1.36
Florida					646		2.86			6.21			6.48
Kentucky					566		1.38			.74			.51
Tennessee					358		2.59			5.10			5.08
Washington, D.C.					83		.99			3.71			1.10
Other					27		1.48			.46			.49
Total				$	12,992		1.76	%		2.30	%		2.28	%

Applicable ratios are annualized.
(1)	Excludes mortgage loans held for sale, covered loans, mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase and in process items.
(2)	Includes $350 million in loans originated by Lendmark Financial Services, which are disclosed as a part of the specialized lending category.
(3)	Weighted based on outstanding balance.
(4)	Direct retail 1-4 family and lot/land real estate loans are originated through the BB&T branching network. Excludes covered loans and in process items.
(5)	Home equity lines without an outstanding balance are excluded from this calculation.
(6)	Based on number of accounts.

18

BB&T Corporation
Credit Quality - Supplemental Schedules
(Dollars in millions)

SUPPLEMENTAL TROUBLED DEBT RESTRUCTURINGS INFORMATION

	As of June 30, 2010
						Past Due 30-89
		Current Status				Days			Past Due 90+ Days					Total
Performing restructurings: (1) (2)
Commercial loans	$	1,065	96.9	%	$	31	2.8	%	$	3	0.3	%	$	1,099
Direct retail loans		122	91.7			8	6.0			3	2.3			133
Revolving credit loans		47	78.3			7	11.7			6	10.0			60
Residential mortgage loans		545	81.6			101	15.1			22	3.3			668
Specialized lending loans		4	100.0			-	-			-	-			4
Total performing restructurings		1,783	90.9			147	7.5			34	1.7			1,964
Nonperforming restructurings (3)		242	50.4			84	17.5			154	32.1			480
Total restructurings	$	2,025	82.9		$	231	9.5		$	188	7.7		$	2,444

(1)	Excludes restructured covered and other acquired loans accounted for under the accretion method.
(2)	Past due performing restructurings are included in past due disclosures.
(3)	Nonperforming restructurings are included in nonaccrual loan disclosures.

19

BB&T Corporation
Capital Information - Five Quarter Trend
(Dollars in millions, except per share data, shares in thousands)

		As of / Quarter Ended
		June 30				March 31			Dec. 31			Sept. 30			June 30
		2010				2010			2009			2009			2009
Selected Capital Information (1)
Risk-based capital
Tier 1		$	13,594		$	13,657		$	13,456		$	12,851		$	12,132
Total		18,328				18,658			18,470			18,012			17,361
Risk-weighted assets (2)		116,155				117,410			117,167			115,608			114,173
Average quarterly tangible assets		153,407				157,603			158,061			150,992			143,011
Risk-based capital ratios
Tier 1			11.7	%		11.6	%		11.5	%		11.1	%		10.6	%
Total			15.8			15.9			15.8			15.6			15.2
Leverage capital ratio			8.9			8.7			8.5			8.5			8.5
Equity as a percentage of total assets			10.8			10.1			9.8			9.8			9.7
Book value per common share		$	24.07		$	23.80		$	23.47		$	23.41		$	22.76
Selected Non-GAAP Capital Information (3)
Tangible common equity as a percentage of tangible assets			7.0	%		6.4	%		6.2	%		6.1	%		6.5	%
Tier 1 common equity as a percentage of risk-weighted assets			8.9			8.6			8.5			8.4			8.4
Tangible book value per common share		$	14.93		$	14.67		$	14.44		$	14.10		$	14.74
Calculations of Tier 1 common equity and tangible assets and related measures:
Tier 1 equity	$	13,594			$	13,657		$	13,456		$	12,851		$	12,132
Less:
Qualifying restricted core capital elements			3,254			3,508			3,497			3,157			2,578
Tier 1 common equity		10,340				10,149			9,959			9,694			9,554
Total assets	$	155,083			$	163,700		$	165,764		$	165,328		$	152,398
Less:
Intangible assets, net of deferred taxes			6,502			6,519			6,553			6,695			5,851
Plus:
Regulatory adjustments, net of deferred taxes			187			493			806			712			1,315
Tangible assets		148,768				157,674			160,017			159,345			147,862
Total risk-weighted assets (2)	$	116,155			$	117,410		$	117,167		$	115,608		$	114,173
Tangible common equity as a percentage of tangible assets			7.0	%		6.4	%		6.2	%		6.1	%		6.5	%
Tier 1 common equity as a percentage of risk-weighted assets			8.9			8.6			8.5			8.4			8.4
Tier 1 common equity	$	10,340			$	10,149		$	9,959		$	9,694		$	9,554
Outstanding shares at end of period (in thousands)		692,777				691,869			689,750			687,446			648,068
Tangible book value per common share	$		14.93		$	14.67		$	14.44		$	14.10		$	14.74

(1)	Current quarter regulatory capital information is preliminary.
(2)	Risk-weighted assets are determined based on regulatory capital requirements. Under the regulatory framework for determining risk-weighted assets each asset class is assigned a risk-weighting of 0%, 20%, 50% or 100% based on the underlying risk of the specific asset class. In addition, off balance sheet exposures are first converted to a balance sheet equivalent amount and subsequently assigned to one of the four risk-weightings.
(3)	Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios. BB&T's management uses these measures to assess the quality of capital and believes that investors may find them useful in their analysis of the Corporation. These capital measures are not necessarily comparable to similar capital measures that may be presented by other companies.

20

BB&T Corporation
Selected Growth Rates Adjusted for Purchase Acquisitions and Selected Items

	Percentage Increase (Decrease)
	QTD		Link QTD		YTD
PERCENTAGE CHANGES IN SELECTED BALANCE SHEET ITEMS (1)	2Q10 vs. 2Q09		2Q10 vs. 1Q10		2010 vs. 2009
Average Balances
Commercial loans and leases	(2.5	) %	(2.4	) %	(2.5	) %
Direct retail loans	(5.4	)	(4.8	)	(6.3	)
Sales finance loans	6.8		20.2		3.9
Revolving credit loans	10.8		2.2		11.6
Mortgage loans	(2.7	)	3.3		(5.3	)
Specialized lending	9.4		8.9		10.1
Other acquired loans	(33.3	)	(44.6	)	(29.2	)
Total loans and leases held for investment (excluding covered loans)	(1.3	)	.6		(2.0	)
Covered loans	(14.5	)	(25.2	)	(11.6	)
Total loans and leases held for investment	(2.4	)	(1.3	)	(2.8	)
Loans held for sale	(58.6	)	(36.4	)	(51.3	)
Total loans and leases	(4.4	)	(1.9	)	(4.4	)
Noninterest-bearing deposits	8.1		19.5		10.6
Interest checking	43.3		17.6		45.8
Other client deposits	8.0		(11.4	)	11.0
Client certificates of deposit	(16.6	)	(26.1	)	(15.2	)
Total client deposits	.6		(9.2	)	2.7
Other interest-bearing deposits	(42.7	)	(90.7	)	(39.1	)
Total deposits	(2.7	)	(13.8	)	(0.8	)
	Percentage Increase (Decrease)
	QTD		Link QTD		YTD
PERCENTAGE CHANGES IN SELECTED INCOME STATEMENT ITEMS (1)(2)	2Q10 vs. 2Q09		2Q10 vs. 1Q10		2010 vs. 2009
Net interest income - taxable equivalent	(0.2	) %	(6.0	) %	.2	%
Noninterest income
Insurance income	(.3	)	53.9		(.7	)
Service charges on deposits	(10.4	)	-		(7.9	)
Investment banking and brokerage fees	(3.2	)	60.9		(3.4	)
Mortgage banking income	(37.6	)	84.9		(42.9	)
Checkcard fees	16.7		59.2		14.9
Other nondeposit fees and commissions	12.5		(12.3	)	15.3
Trust and investment advisory revenues	18.2		10.6		18.5
Bankcard fees and merchant discounts	15.4		50.1		14.9
Other income	(51.4	)	(167.1	)	(14.4	)
Total noninterest income	(9.4	)	24.7		(7.3	)
Noninterest expense
Personnel expense	(3.4	)	1.9		(2.2	)
Foreclosed property expense	NM		139.7		NM
Occupancy and equipment expense	(.6	)	15.7		(2.5	)
Other noninterest expense	9.2		41.7		10.3
Total noninterest expense	14.8		32.6		14.3

Applicable ratios are annualized.
(1)	Adjusted to exclude estimated growth that resulted from the timing of acquisitions during 2010 and 2009.
(2)	Excludes securities gains or losses, merger-related and restructuring charges, the net impact of valuation adjustments formortgage servicing rights, gains or losses on mortgage servicing rights-related derivatives, the impacts of FDIC loss share accounting, and other selected items as noted on page 22 of this supplement.
	NM - not meaningful.

21

BB&T Corporation
Selected Items & Additional Information
(Dollars in millions, except per share data)

										Favorable (Unfavorable)
Selected Items											Pre-Tax				After-Tax
Second Quarter 2010
No selected items noted
First Quarter 2010
Colonial premises and equipment adjustment		Occupancy and equipment expense									$	16			$	10
Contingency reserve adjustment		Other noninterest expense										11				7
Fourth Quarter 2009
Colonial acquisition loan revaluation adjustment (1)		Net interest income										9				5
Gain on sale of payroll processing business		Other noninterest income										27				17
Income tax adjustments, net		Provision for income tax										7				7
Third Quarter 2009
Contingency reserve		Other noninterest expense										(25	)			(15	)
Leveraged lease tax adjustment		Provision for income tax										12				12
Second Quarter 2009
Accelerated amortization on preferred stock		Dividends and accretion on preferred stock										(47	)			(47	)
FDIC special assessment		Regulatory charges										(71	)			(44	)
Gain from extinguishment of debt		Other noninterest expense										36				22
First Quarter 2009
Other-than-temporary impairment charges		Securities gains (losses), net										(36	)			(22	)
		As of / Quarter Ended
		June 30		March 31				Dec. 31			Sept. 30				June 30
		2010			2010			2009			2009				2009
Selected Mortgage Banking Information
Income statement impact of mortgage servicing rights valuation
MSRs fair value increase (decrease) (2)	$	(234	)	$	5		$	158		$		(59	)		$	137
MSRs hedge (losses) gains		241			(1	)		(130	)			72				(114	)
Net	$	7		$	4		$	28		$	13				$	23
Residential mortgage loan originations	$	5,013		$	4,791		$	5,327		$	6,899			$	8,543
Residential mortgage servicing portfolio
Loans serviced for others		59,322			57,200			54,583			52,188				47,037
Bank-owned loans serviced		18,621			18,719			18,991			18,782				19,504
Total servicing portfolio		77,943			75,919			73,574			70,970				66,541
Weighted-average coupon rate		5.43	%		5.49	%		5.57	%			5.62	%			5.74	%
Weighted-average servicing fee		.357			.363			.369				.374				.378
Selected Miscellaneous Information
Derivatives notional amount	$	64,187		$	64,558		$	66,175		$	69,624			$	84,649
Fair value of derivatives		279			307			283				382				355
Unrealized appreciation (depreciation) on securities
available for sale, net of tax (3)		74			(81	)		(244	)			(26	)			(384	)
Common stock prices
High		35.72			32.93			28.66			29.81				28.67
Low		26.18			25.40			23.75			19.83				16.27
End of period		26.31			32.39			25.37			27.24				21.98
Banking offices		1,791			1,838			1,857			1,859				1,505
ATMs		2,496			2,534			2,541			2,576				2,194
FTEs		31,603			31,929			32,394			32,821				28,763

(1)	Amounts recorded in fourth quarter 2009 that relate to third quarter 2009.
(2)	Includes a $2 million decrease due to a valuation adjustment for MSRs carried at the lower of cost or market during the second quarter of 2010.
(3)	Includes the impact of the FDIC loss sharing agreements on the covered securities.

22

BB&T Corporation
NON-GAAP Reconciliation Table 

	Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
NON-GAAP Reconciliation Table	2010		2010		2009		2009		2009
Efficiency ratio - GAAP	61.7	%	61.2	%	58.5	%	59.8	%	54.7	%
Effect of securities gains (losses), net	5.1		(.1	)	-		.8		.5
Effect of merger-related and restructuring charges, net	(1.6	)	(.7	)	(.4	)	(.8	)	-
Effect of contingency reserve	-		.5		-		(1.1	)	-
Effect of FDIC special assessment	-		-		-		-		(3.3	)
Effect of gain on extinguishment of debt	-		-		-		-		1.7
Effect of payroll services gain	-		-		.7		-		-
Effect of Colonial revaluation adjustments	-		-		.3		-		-
Effect of Colonial premises and equipment adjustments	-		.8		-		-		-
Effect of FDIC loss share accounting	-		.3		-		-		-
Effect of foreclosed property expense	(10.1	)	(8.1	)	(6.2	)	(5.4	)	(2.7	)
Effect of amortization of intangibles	(1.4	)	(1.5	)	(1.5	)	(1.3	)	(1.1	)
Efficiency ratio - reported	53.7		52.4		51.4		52.0		49.8
Fee income ratio - GAAP	42.7	%	38.5	%	41.7	%	42.6	%	46.0	%
Effect of securities gains (losses), net	(5.5	)	.1		-		(.8	)	(.5	)
Effect of payroll services gain	-		-		(.7	)	-		-
Effect of FDIC loss share accounting	3.6		.4		-		-		-
Effect of Colonial revaluation adjustments	-		-		.2		-		-
Fee income ratio - reported	40.8		39.0		41.2		41.8		45.5
							Year-to-Date
							June 30,
NON-GAAP Reconciliation Table							2010		2009
Efficiency ratio - GAAP							61.5	%	51.6	%
Effect of securities gains (losses), net							2.5		1.9
Effect of merger-related and restructuring charges, net							(1.2	)	(.3	)
Effect of contingency reserve							.3		-
Effect of FDIC special assessment							-		(1.7	)
Effect of gain on extinguishment of debt							-		1.0
Effect of Colonial premises and equipment adjustments							.4		-
Effect of FDIC loss share accounting							.2		-
Effect of foreclosed property expense							(9.2	)	(2.2	)
Effect of amortization of intangibles							(1.4	)	(1.1	)
Efficiency ratio - reported							53.1		49.2
Fee income ratio - GAAP							40.7	%	46.4	%
Effect of securities gains (losses), net							(2.9	)	(2.2	)
Effect of FDIC loss share accounting							2.1		-
Fee income ratio - reported							39.9		44.2

23

EX-99.3

This presentation contains certain forward -looking statements with respect to the financial condition, results of operations and businesses of BB&T. Statements that are not historical or current to facts or statements about beliefs and expectations are forward -looking statements. Forward -looking statements involve certain risks and uncertainties and are based on the beliefs and assumptions of the management of BB&T, and the information available to management at the time that this presentation was prepared. Factors that may cause actual results to differ materially from those contemplated by such forward -looking statements include, among others, the following: (1) general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and / or a reduced demand for credit or other services; (2) changes in the interest rate environment may reduce net interest margins and / or the volumes and values of loans made or held as well as the value of other financial assets held; (3) competitive pressures among depository and other financial institutions may increase significantly; (4) legislative or regulatory changes, including changes in accounting standards, may adversely affect the businesses in which BB&T is engaged; (5) local, state or federal taxing authorities may take tax positions that are adverse to BB&T; (6) adverse changes may occur in the securities markets; (7) competitors of BB&T may have greater financial resources and develop products that enable them to comp ete more successfully than BB&T; (8) costs or difficulties related to the integration of the businesses of BB&T and its merger partners may be greater than expected, including the integration of our acquisition of Colonial Bank; (9) unpredictable natural or other disasters could have an adverse effect on us in that such events could materially disrupt our operations or the ability or willingness of our customers to access the financial services we offer; (10) expected cost savings associated with completed mergers and acquisitions may not be fully realized or realized within the expected time frames, including our acquisition of Colonial Bank; and (11) deposit attrition, customer loss or revenue loss following completed mergers and acquisitions, including our acquisition of Colonial Bank, may be greater than expected. You should not place undue reliance on any forward -looking statement and should consider all of the foregoing uncertainties and risk, as well as those more fully discussed under Item 1A. “Risk Factors Related to BB&T’s Business” of BB&T’s 2009 Annual Report on Form 10-K and in any of BB&T’s subsequent SEC filings. Forward -looking statements speak only as of the date they are made, and BB&T undertakes no obligation to update any forward -looking statement to reflect the impact of circumstances or events that arise afte r the date the forward -looking statement was made.

1

This presentation 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. BB&T’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance c omparability of results with prior periods as well as demonstrating the effects of significant gains and charges in the current period. The Company believes that a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. BB&T’s management believes that investors may use these non-GAAP financial measures to analyze financial performance without the impact of unusual items that may obscure trends in the Company’s underlying performance. 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 comp anies. BB&T’s management uses these measures to evaluate the underlying performance and efficiency of its operations. BB&T’s management believes these measures reflect core trends of the business, excluding purchase accounting amortization that will cease in the future, while the acquired business will remain. Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios. BB&T's management uses these measures to assess the quality of capital and believes that investors may find them useful in their analysis of the Corporation. These capital measures are not necessarily comparable to similar capital measures that may be presented by other companies. Asset quality ratios have been adjusted to remove the impact of acquired loans and foreclosed property covered by the FDIC loss sharing agreements as management believes their inclusion results in distortion of those ratios and may not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included on the Investor Relations section of BB&T’s website (www.bbt.com/investor ) and as an appendix to this presentation.

2

Items Affecting Quarterly Earnings
$ in millions, except per share amounts

		Pretax
					Per share Impact
		Income (Expense)
Securities gains, net	$	219		$	.19
Allowance build1		(90	)		(.08	)
Losses related to NPA disposition strategy		(69	)		(.06	)
Additional OREO write-downs2		(61	)		(.05	)
Merger-related charges		(38	)		(.03	)

¹ Excludes the impact of the NPA disposition strategy.
² Increase in losses and write-downs compared to the first quarter of 2010. Write-downs in connection with an effort to upda te foreclosed property appraisals. At June 30, 2010, the average appraisal age decreased to 6 months.

4

NPA Disposition Strategy

Ø The strategy implemented this quarter is consistent with our long-term plan to 

dispose of problem assets as pricing improves. 

Ø We reached an inflection point early this quarter, and observed more buyers enter 

the bidding process, resulting in higher valuations and significantly better bids. 

Ø Therefore, we implemented a strategy with the goal of: 

– More aggressively reducing BB&T’s exposure to nonperforming loans and 

foreclosed properties and reducing or eliminating any delay exiting the credit 

cycle. 

Ø These transactions successfully liquidated $682 million in problem assets, significantly 

lowering balance sheet risk and accelerating our outlook for exiting the credit cycle. 

Ø We will continue this strategy as long as pricing remains firm. 

5

Net Revenues and Earnings Power

Net Revenues

Ø Net revenues increased 43.9% on an annualized linked quarter 

basis. 

Ø Excluding securities gains and loss share impact, net revenues 

increased an annualized 6.4% compared to 1Q10. 

Earnings Power

Ø Pre-tax pre-provision earnings available to common shareholders 

totaled $885 million, up an annualized 36.6% compared to 1Q10. 

Ø Excluding gains on securities and foreclosed property costs, 

pre-tax pre-provision earnings remain strong at $906 million. 

9

Ø Highly successful Colonial systems conversion completed in 

May. 

Ø Merger-charges will be down significantly in last half of 2010, 

with $10 million - $20 million expected. 

Ø We continue to expect Colonial-related cost savings of $170 

million annually with a full run rate in the third quarter this year. 

Ø Colonial branches have originated more than $600 million in 

loans and have $16.8 billion in deposits. 

Ø Colonial branches are opening transaction accounts on a pace 

that is 72% of the rate for a legacy BB&T branch. 

10

Ø Overall delinquencies are stable to improving, particularly excluding the policy change affecting mortgage delinquencies. 

Ø Increases in charge-offs reflect the NPA disposition strategy and continued efforts to work through the ADC portfolio. 

Ø NPLs reflect continued manageable deterioration in Other CRE and C&I. 

¹ Excludes covered loans. Balances calculated as a percentage of loans in each category.

12

Ø	The mortgage sale was primarily a bulk sale of larger balance nonaccruals ($342 thousand average loan balance compared
	to remaining nonaccruals average of $180 thousand) with higher uncertainty as to ultimate recovery. We targeted loans
	where modification was not a likely solution.
Ø	The mortgage bulk sale excluded construction perm loans, deep discount loans, late-stage foreclosure loans, smaller-
	balance loans, insured loans and recently modified loans.

¹ Includes $11 million of loans on accrual status. Balances reflect unpaid principal balances less previous write-downs.

13

 

Ø Restructured loan balances moderated compared to first quarter. 

Ø 80.4% of TDRs are performing. 

Ø 82.9% of TDRs are current at 2Q10. 

Ø BB&T’s loan modification programs continue to be an effective strategy for assisting troubled 

borrowers. 

¹ Excludes restructured covered and other acquired loans accounted for under the accretion method. 

² Past due performing restructurings are included in past due disclosures. 

³ Nonperforming restructurings are included in nonaccrual loan disclosures. 

15

2Q10 Earnings Call Summary

Ø In summary, BB&T enjoyed another solid quarter. 

Ø Fundamental core performance in many of our businesses remains 

strong despite a sluggish economy. 

Ø Consistent with our long-term plans, we implemented a more aggressive 

strategy to reduce our balance sheet risk and exposure to nonperforming 

assets. 

Ø Also, we remain very conservative by maintaining a strong allowance 

coverage and positioning our foreclosed property portfolio to continue 

this strategy as long as market pricing remains acceptable. 

Ø Changes in interest rates allowed us to reduce our securities portfolio, 

and strengthen the flexibility and sensitivity of our balance sheet. 

Ø We further strengthened our capital levels and remain among industry 

leaders in capital. 

25

Comments Regarding Disclosure

BB&T Corporation does not provide earnings guidance, but does discuss trends regarding the factors that influence potential future performance in both its quarterly earnings release and its quarterly earnings conference call.

These statements constitute “forward -looking statements,” as defined in the Private Securities Litigation Reform Act of 1995. Please refer to the slide entitled “Forward Looking Information” for important cautionary information regarding forward -looking statements. BB&T undertakes no obligation to revise these statements following the date of this presentation.

26

Appendix

Non-GAAP Capital Measures

(Dollars in millions)	As of / Quarter Ended
		June 30			March 31			Dec. 31			Sept.30			June 30
		2010			2010			2009			2009			2009
Selected Capital Information 1
Risk-based capital
Tier 1	$	13,594		$	13,657		$	13,456		$	12,851		$	12,132
Total		18,328			18,658			18,470			18,012			17,361
Risk-weighted assets 2		116,155			117,410			117,167			115,608			114,173
Average quarterly tangible assets		153,407			157,603			158,061			150,992			143,011
Risk-based capital ratios
Tier 1		11.7	%		11.6	%		11.5	%		11.1	%		10.6	%
Total		15.8			15.9			15.8			15.6			15.2
Leverage capital ratio		8.9			8.7			8.5			8.5			8.5
Equity as a percentage of total assets		10.8			10.1			9.8			9.8			9.7
Book value per common share	$	24.07		$	23.80		$	23.47		$	23.41		$	22.76
Selected Non-GAAP Capital Information 3
Tangible common equity as a percentage of tangible assets		7.0	%		6.4	%		6.2	%		6.1	%		6.5	%
Tier 1 common equity as a percentage of risk-weighted assets		8.9			8.6			8.5			8.4			8.4
Tangible book value per common share	$	14.93		$	14.67		$	14.44		$	14.10		$	14.74

1	Current quarter regulatory capital information is preliminary.
2	Risk-weighted assets are determined based on regulatory capital requirements. Under the regulatory framework for determining risk-weighted assets each asset class is assigned a risk- weighting of 0%, 20%, 50% or 100% based on the underlying risk of the specific asset class. In addition, off balance sheet exposures are first converted to a balance sheet equivalent amount and subsequently assigned to one of the four risk-weightings.
3	Tangible common equity and Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1 common equity definition used in the SCAP assessment to calculate these ratios. BB&T's management uses these measures to assess the quality of capital and believes that investors may find them useful in their analysis of the Corporation. These capital measures are not necessarily comparable to similar capital measures that may be presented by other companies.

Non-GAAP Capital Measures
(Dollars in millions)	As of / Quarter Ended
	June 30			March 31			Dec. 31				Sept.30				June 30
	2010			2010			2009				2009				2009
Calculations of Tier 1 common equity and tangible assets and related measures:
Tier 1 equity	$	13,594		$	13,657			$	13,456			$	12,851		$	12,132
Less:
Qualified restricted core capital elements		3,254			3,508				3,497				3,157			2,578
Tier 1 common equity		10,340			10,149				9,959				9,694			9,554
Total assets	$	155,083		$	163,700			$	165,764			$	165,328		$	152,398
Less:
Intangible assets, net of deferred taxes		6,502			6,519				6,553				6,695			5,851
Plus:
Regulatory adjustments, net of deferred taxes		187			493				806				712			1,315
Tangible assets		148,768			157,674				160,017				159,345			147,862
Total risk-weighted assets 1	$	116,155		$	117,410			$	117,167			$	115,608		$	114,173
Tangible common equity as a percentage of tangible assets		7.0	%		6.4	%			6.2	%			6.1	%		6.5	%
Tier 1 common equity as a percentage of risk-weighted assets		8.9	%		8.6	%			8.5	%			8.4	%		8.4	%
Tier 1 common equity	$	10,340		$	10,149			$	9,959			$	9,694		$	9,554
Outstanding shares at end of period (in thousands)		692,777			691,869				689,750				687,446			648,068
Tangible book value per common share	$	14.93		$	14.67			$	14.44			$	14.10		$	14.74

¹ Risk-weighted assets are determined based on regulatory capital requirements. Under the regulatory framework for determining risk-weighted assets each asset class is assigned a risk- weighting of 0%, 20%, 50% or 100% based on the underlying risk of the specific asset class. In addition, off balance sheet exposures are first converted to a balance sheet equivalent amount and subsequently assigned to one of the four risk-weightings.

Non-GAAP Reconciliations
	Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2010		2010		2009		2009		2009
Efficiency ratio – GAAP	61.7	%	61.2	%	58.5	%	59.8	%	54.7	%
Effect of securities gains (losses), net	5.1		(.1	)	-		.8		.5
Effect of merger-related and restructuring charges, net	(1.6	)	(.7	)	(.4	)	(.8	)	-
Effect of contingency reserve	-		.5		-		(1.1	)	-
Effect of FDIC special assessment	-		-		-		-		(3.3	)
Effect of gain on extinguishment of debt	-		-		-		-		1.7
Effect of payroll services gain	-		-		.7		-		-
Effect of Colonial revaluation adjustments	-		-		.3		-		-
Effect of Colonial premises and equipment adjustments	-		.8		-		-		-
Effect of FDIC loss share accounting	-		.3		-		-		-
Effect of foreclosed property expense	(10.1	)	(8.1	)	(6.2	)	(5.4	)	(2.7	)
Effect of amortization of intangibles	(1.4	)	(1.5	)	(1.5	)	(1.3	)	(1.1	)
Efficiency ratio – reported	53.7		52.4		51.4		52.0		49.8
Fee income ratio – GAAP	42.7	%	38.5	%	41.7	%	42.6	%	46.0	%
Effect of securities gains (losses), net	(5.5	)	.1		-		(.8	)	(.5	)
Effect of payroll services gain	-		-		(.7	)	-		-
Effect of FDIC loss share accounting	3.6		.4		-		-		-
Effect of Colonial revaluation adjustments	-		-		.2		-		-
Fee income ratio – reported	40.8		39.0		41.2		41.8		45.5

Non-GAAP Reconciliations
	As of / For the Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2010		2010		2009		2009		2009
Asset Quality Ratios (including amounts related to covered
loans and covered foreclosed property)
Loans 30-89 days past due and still accruing as a percentage
of total loans and leases 1	1.87	%	1.87	%	1.96	%	2.11	%	1.70	%
Loans 90 days or more past due and still accruing as a
percentage of total loans and leases 1	1.82		1.66		1.61		1.18		.33
Nonperforming loans and leases as a percentage of total loans
and leases	2.77		2.77		2.56		2.40		2.08
Nonperforming loans and leases as a percentage of:
Total assets	2.90		2.84		2.65		2.48		2.19
Loans and leases plus foreclosed property	4.24		4.38		4.07		3.78		3.29
Net charge-offs as a percentage of average loans and leases	2.48		1.84		1.83		1.71		1.81
Allowances for loan and lease losses as a percentage of loans
and leases held for investment	2.66		2.65		2.51		2.29		2.19
Ratio of allowance for loans and lease losses to:
Net charge-offs	1.06	X	1.41	X	1.34	X	1.35	X	1.17	X
Nonperforming loans and leases held for investment	.98		.94		.96		.93		1.01

Applicable ratios are annualized.

¹ Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.

Non-GAAP Reconciliations
	As of / For the Quarter Ended
	June 30		March 31		Dec. 31		Sept. 30		June 30
	2010		2010		2009		2009		2009
Asset Quality Ratios (excluding amounts related to covered
loans and covered foreclosed property)2
Loans 30-89 days past due and still accruing as a percentage
of total loans and leases 1	1.57	%	1.65	%	1.72	%	1.71	%	1.70	%
Loans 90 days or more past due and still accruing as a
percentage of total loans and leases 1	.37		.31		.32		.33		.33
Nonperforming loans and leases as a percentage of total loans
and leases	2.97		2.99		2.77		2.61		2.08
Nonperforming assets as a percentage of:
Total assets	2.93		2.86		2.68		2.52		2.19
Loans and leases plus foreclosed property	4.37		4.53		4.24		3.95		3.29
Net charge-offs as a percentage of average loans and leases3	2.66		1.99		1.98		1.79		1.81
Allowances for loan and lease losses as a percentage of loans
and leases held for investment	2.84		2.84		2.72		2.49		2.19
Ratio of allowance for loans and lease losses to:
Net charge-offs	1.05	X	1.40	X	1.34	X	1.35	X	1.17	X
Nonperforming loans and leases held for investment	.98		.93		.96		.93		1.01

	Applicable ratios are annualized.
1	Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.
2	These asset quality ratios have been adjusted to remove the impact of covered loans and covered foreclosed property. Appropriate adjustments to the numerator and denominator have been reflected in the calculation of these ratios. Management believes the inclusion of acquired loans in certain asset quality ratios that include nonperforming assets, past due loans or net charge-offs in the numerator or denominator results in distortion of these ratios and they may not be comparable to other periods presented or to other portfolios that were not impacted by purchase accounting.
3	Excluding the impact of losses and balances associated with BB&T's NPA disposition strategy, the adjusted net charge-offs ratio would have been 2.06% for the second quarter of 2010.

Non-GAAP Revenue and
Expense Growth Rates
							Annualized
							Link Qtr
($ in millions)		2Q10			1Q10		Growth
Net interest income (fully taxable equivalent)	$	1,392		$	1,347
Noninterest income		1,039			844
Total revenue (fully taxable equivalent)		2,431			2,191		43.9	%
Securities gains, net		(219	)		3
Loss share impact for impairments 1		2			(15	)
Adjusted revenues	$	2,214		$	2,179		6.4	%
		2	Q10		2	Q09	Growth
Noninterest expense	$	1,500		$	1,181		27.0	%
Foreclosed property expense		(240	)		(60	)
Merger-related and restructuring charges, net		(38	)		1
Qualified pension plan expense		(2	)		(17	)
Post employment benefits expense 2		1			(18	)
FDIC special assessment		-			(71	)
Gain from extinguishment from debt		-			36
Estimated growth from acquisitions		-			125
Total revenue (fully taxable equivalent)	$	1,221		$	1,177		3.7	%

¹ Represents amount of loss share (income) expense that was recorded in connection with additional (impairments) recoveries.
² Represents certain benefits that have an offsetting change in noninterest income.

BB&T Corporation