Q3 Earning Report of BB&T Corporation

BB&T Corporation

Superior Relative Performance

Investor PresentationFourth Quarter 2009

Daryl N. BibleChief Financial Officer

Best Bank in Town Since 18721

Forward-Looking InformationThis presentation contains certain forward-looking statements with respect to the financial condition, results of operations and businesses of BB&T. These 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 compete 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. The forward-looking statements included in this presentation have not been examined or compiled by the independent public accountants of BB&T, nor have such accountants applied any procedures thereto. Accordingly, such accountants do not express an opinion or any other form of assurance on them.

2Best Bank in Town Since 1872

Non-GAAP InformationThis 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 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 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 companies. BB&T’s non-GAAP disclosures include cash basis results, which adjust GAAP performance to exclude the amortization of intangibles and purchase accounting mark-to-market adjustments. 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.


Investment Highlights

Values are the foundation of BB&T.Values drive culture. Culture drives performance.

Diversified, stable business mix resilient in all operating environments.

Established history of prudent risk management.

15 Year Annualized Total Return of 10.6% vs. S&P of 7.6% and Peers of 5.3%

Uniquely positioned within Southeast landscape amid current turmoil.

Proven and disciplined M&A executor.


BB&T• Overview

• Strategically compelling and financially-attractive FDIC-assisted Colonial transaction

• Financial Strength– Superior profitability

– Sound credit quality– Strong capital and liquidity position

• Future Prospects


BB&T Corporation*

KY90 Branches$4.2bn Deposits#3 Rank

TN57 Branches$2.6bn Deposits#6 Rank

WV78 Branches$5.3bn Deposits#1 Rank

MD130 Branches$6.6bn Deposits#6 Rank

VA392 Branches$20.0bn Deposits#3 Rank

NC359 Branches$33.7bn Deposits#2 Rank

GA178 Branches$11.1bn Deposits#5 Rank

SC116 Branches$6.3bn Deposits#3 Rank

DC12 Branches$1.2bn Deposits#7 Rank

Headquarters Winston-

Salem, NC

AL93 Branches$5.8bn Deposits#4 Rank

IN2 Branches$0.08bn Deposits#90 Rank

BB&T Colonial

FL308 Branches$16.4bn Deposits#5 Rank

Committed to Community Banking Model• 37 Banking Regions and Regional Presidents• Local decision-making• Centralized support systems• Foundation for our sales and service culture model

1. As of October 15, 20092. BB&T standalone information

Source: FactSet, SNL Financial*Deposit Market Share as of June 30, 2009

NYSE Traded BBT

Headquarters Winston Salem, NC

Founded 18721Market Cap $19.4 billion

Branches 1,859

FTEs 32,821

$Assets2

Deposits $114 billion

.2

Asset Size $165 billion

Loans $107 billion

Total Invested 60. billion

Clients 6.31million

TexasBranches: 22Deposits: $810 mmState Rank: 48


Culture Matters – Values are Consistent and Important

Value System

Attract / Hire the Right People

Low Turnover

Perfect Client Experience

High Client Service Scores

Revenues

Value System


Balanced, Diversified Business Model... All the Products that Matter

Bank CardConsumer FinanceHome EquityHome MortgageInsuranceInvestment ServicesPayment SolutionsSales FinanceSmall BusinessWealth Management / Private Banking

Asset ManagementCapital MarketsCommercial FinanceCommercial Middle MarketCommercial MortgageInstitutional Trust ServicesInsuranceInsurance Premium FinanceInternationalLeasingMerchantPayment SolutionsPayroll ProcessingReal Estate LendingSupply Chain ManagementVenture Capital

RETAIL COMMERCIAL

Deep client relationshipsExtensive product set drives cross-sell and wallet share


…Offering Less Volatile, More Predictable Revenue and Earnings Stream

Strong Fee Income RatioDiverse Revenue Mix 1

1. Net revenue excludes other and parent/reconciling items

Net Revenue: $4.7 billion for 1H09

39.1

40.640.3

43.4

41.3

35.0

37.0

39.0

41.0

43.0

45.0

2005 2006 2007 2008 YTD3Q09

(%)

Banking Network56.4%

ResidentialMortgage Banking

9.6%

Sales Finance1.1%

Specialized Lending7.5%

Insurance Services11.2%

Financial Services8.6%

Treasury5.6%


Successful and Disciplined M&A Integrator

As of June 30, 2009, completed 150 acquisitions in the past 15 years; 34 bank acquisitionsProven track record of achieving cost savings targets

BB&T M&A deals by year

0

4

8

12

16

20

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 1H09

Banks Financial Services Insurance Specialized Lending Other

Criteria

Expanding and diversifying the franchise in terms of revenues, profitability, and asset size

15% IRR required for bank deals

Cash EPS accretive by Year 2

GAAP EPS accretive by Year 3

Colonial meets or exceeds all acquisition criteria

Result

Meets

Exceeds

Immediate

Immediate


Key Areas of Focus for M&A

Source: Company filings, FactSet and SNL Financial

BankingNetworks

Pursue banks and thrifts with compatible cultures that will enhance BB&T’s banking network and customer delivery systemMaintain conservative approach to avoid dilution and risk to balance sheetCompleted Haven Trust Bank acquisition 4Q08 from FDIC

InsuranceServices

SpecializedLending

Important segment in diversifying operations and providing stable fee income businessExtent of segment focus demonstrated with recent acquisitions Acquired 12 insurance businesses during 2008 and Q1 2009

Long-term interest in niche markets with products and services that can be offered through existing distribution systemCompleted the acquisitions of Cananwill’s US assets and Live Oak Capital in 2009

FinancialServices

Consider strategic nonbank acquisitions that are economically attractive and provide long-term benefitsAcquired Ramsay Title Group on Dec. 31, 2008


Colonial Transaction Update

Integration:

Strategically compelling and financially attractive transaction enhances BB&T's franchise in key markets

• Merger Charges and Cost Savings (Pretax):– Reducing estimate of merger-related charges to $205 million from $245 million– Confirming annual cost savings of $170 million; expect to achieve full run rate by 4Q10

• Systems Conversions and Other Integration Issues:

– Leadership teams in place in new Florida, Alabama and Texas regions

– Implemented BB&T’s credit review process for all new loan originations

– Converted payroll, securities, fixed assets

– Remaining systems to be converted by 2Q10

– Evaluated mortgage-warehouse business and will continue to operate in our footprint

– Evaluated association services business and will continue and expand in our footprint

– Will have available deposit and loan servicing in all branches for all BB&T/Colonial clients by 4Q09

– Reached agreement to sell 22 branches in Nevada in 1Q10. No material earnings impact expected

Loans will stay with BB&T and remain covered by loss share


Colonial Transaction Update• Securities:

– Sold $2.4 billion of securities acquired– Retained $1.2 billion of non-agency mortgage backed and municipal securities

» Non-agency mortgage backed and municipal securities are covered by loss share agreement

• Deposits and Long-Term Debt:– Paid off $1.6 billion of higher-cost brokered deposits– $815 million of mortgage warehouse business-related escrows were paid down– Prepaid $2.8 billion of Colonial’s FHLB advances– Used $4.1 billion proceeds from FDIC to reduce BB&T’s borrowings– Client deposit balances are stable

• Goodwill and Other Intangibles:– Acquisition resulted in approximately $690 million of goodwill and $176 million of core deposit intangible

• Opportunity to sell BB&T’s broad array of banking products and services to the existing Colonial customer base

• Anticipated cost savings and integration expense:– Approximately $170 million annual (pre-tax) expense reduction, ~30% of Colonial’s cost base– Merger and integration costs of $205 million (pre-tax)

• Financially attractive– Exceeds BB&T merger criteria for IRR and earnings accretion with conservative assumptions– Includes the impact of the capital raise

• FDIC loss sharing substantially eliminates credit risk from legacy assets


Colonial Pro formaDeposits Deposits Rank Mkt Share Branches

MSA

Miami $3.2 $3.5 11 2.4% 68

Orlando 2.2 2.5 4 8.0 47

Montgomery 2.0 2.0 1 29.0 11

Tampa / St. Petersburg 1.4 2.7 5 5.8 61

Lakeland 1.1 1.1 2 18.9 12

Birmingham 1.0 1.0 5 4.5 27

State

Alabama $5.6 $5.8 4 7.7% 93

Florida 10.4 14.1 5 3.8 306

Georgia 0.6 9.4 5 5.1 176

Enhanced Franchise in Alabama, Florida and Georgia

Source: SNL Financial, as of 6/30/08.(1) Based upon Colonial’s 6/30/08 deposit geographic profile.

ColonialBB&T

Pro forma Alabama, Florida and Georgia footprint Top MSAs(1)

($ in billion)


CMA ‐7.4% PNC ‐9.1% PNC 1.5% MTB 5.3% USB 14.8% USB 14.9%FITB ‐14.3% USB ‐9.3% USB ‐1.4% PNC 2.8% COF 14.7% MTB 13.6%BBT ‐22.6% BBT ‐9.5% BBT ‐2.6% USB 2.3% MTB 11.8% BBT 10.6%MTB ‐26.4% CMA ‐15.5% MTB ‐5.5% BBT 2.3% BBT 10.6% ZION 10.5%COF ‐26.7% MTB ‐16.6% CMA ‐8.9% CMA ‐1.3% PNC 8.2% CMA 8.6%PNC ‐32.3% COF ‐21.2% COF ‐12.2% COF ‐.02% CMA 7.0% PNC 7.9%RF ‐32.7% STI ‐30.7% STI ‐17.2% STI ‐7.1% ZION 6.1% FITB 5.9%USB ‐37.8% FITB ‐33.1% ZION ‐19.7% KEY ‐8.9% MI 2.5% STI 5.9%HBAN ‐39.4% ZION ‐37.4% MI ‐21.6% MI ‐7.4% STI 2.3% MI 5.3%KEY ‐44.5% MI ‐38.1% KEY ‐23.9% ZION ‐8.7% FITB 2.3% KEY 2.4%STI ‐48.2% HBAN ‐38.6% FITB ‐24.3% HBAN ‐11.4% KEY ‐1.5% HBAN 2.3%ZION ‐52.6% RF ‐41.4% RF ‐24.7% FITB ‐10.5% HBAN ‐1.6% RF 0.9%MI ‐58.8% KEY ‐41.5% HBAN ‐24.9% RF ‐10.2% RF ‐3.5% COF NA

Average

S5CBNK ‐25.9% S5CBNK ‐21.1% S5CBNK ‐9.7% S5CBNK ‐0.4% S5CBNK 6.9% S5CBNK NAS5FINL ‐23.4% S5FINL ‐21.9% S5FINL ‐9.5% S5FINL ‐1.4% S5FINL 7.0% S5FINL NASPX ‐7.0% SPX ‐5.4% SPX 1.0% SPX ‐0.2% SPX 7.6% SPX 8.0%

20 year TSR

5.3% 7.1%‐4.6%

1 year TSR 3 year TSR 5 year TSR

‐35.1% ‐27.7% ‐15.2%

3rdQuartile

4thQuartile

10 year TSR 15 year TSR

1st Quartile

2ndQuartile

Total Shareholder Return: BB&T vs. PeersAs of September 30, 2009


BB&T• Overview

• Strategically compelling and financially- attractive FDIC-assisted Colonial transaction





First Nine Months 2009 Highlights Strong Underlying Performance and Strengthened Balance Sheet

Result Commentary Net Income $683mm

EPS $0.88

Strong net interest income growth (up 11.6% from 2008) and margin expansion

Strong low cost deposit growth Record mortgage production and earnings Record insurance revenues

Efficiency Ratio 1 50.2%

Pre-tax, Pre- Provision Earnings 1

$2,748mm 3% increase

Reserves $2.4bn Increased by $805mm or 87 bps from Q4 2008

Capital Ratios Tier 1 Common: 8.4% Tier 1 RBC: 11.1% Total Capital: 15.6%

Industry leading capitalization

1. Excludes securities gains / losses

Financial Strength


Stable Net Interest Margin

3.57

3.89

3.74

3.63

3.523.61

3.313.38

3.47

3.713.66

3.00

3.10

3.20

3.30

3.40

3.50

3.60

3.70

3.80

3.90

4.00

2005 2006 2007 2008 1H09 YTD909

(%)

BBT Peers

3Q09 Strong Risk-Adjusted Yield1

Superior, Stable Net Interest Margin…

1Net interest income less net charge-offs as a percentage of Earning Assets

3.833.50 3.38

3.05

2.532.33

2.131.82 1.76 1.68 1.64

0.87

3.73

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

Capit

al On

e

BB&T

M&T

PNC

US B

anco

rp

Regio

ns

Zions

Sun

Trus

t

Key C

orp

Fifth

Thir

d

Come

rica

Hunt

ingto

n

M&I

Peer data based on June 30, 2009


Strong Fee Income Ratio1Strong Efficiency Ratio(%) (%)

Source: SNL and Company Reports

1Cash basis excludes securities gains / losses Peers include CMA, COF, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB and ZION – Data based on June 30, 2009

… and Delivering all Components of Profitability…

43.4

39.2

40.6 40.741.3

37.9

40.7

39.2

40.3

40.1

36.0

40.0

44.0

48.0

2005 2006 2007 2008 YTD909

BBT Peers

50.250.5

53.2

50.951.4

57.759.2

56.056.455.3

45.0

49.0

53.0

57.0

61.0

2005 2006 2007 2008 YTD909

BBT Peers


2.39

2.60

2.45 2.442.41 2.42

1.791.70

2.132.21

2.23

1.40

1.60

1.80

2.00

2.20

2.40

2.60

2.80

2005 2006 2007 2008 1H09 YTD090

… Drives Strong Earnings Power…

1. Pre-tax, pre-provision earnings2. Pre-tax, pre-provision earnings / Avg. AssetsPeers include CMA, COF, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB and ZION - Data based on June 30, 2009Source: SNL and Company Reports

Best in Class Pre-tax, Pre-provision ROA2

22.4%

CAGR

(%)

Consistent Long-Term Earnings Power1

BBT Peers

0.4 0.5

0.8

1.1

1.4

1.7

2.12.3

2.6 2.7 2.8

3.1

0.2

3.4

0.4

0.7

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

1993 1996 1999 2002 2005 2008

($ b

illio

n)


Peers include CMA, COF, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB and ZION – Data based on June 30, 2009 Source: SNL and Company Reports

0.71

1.58

1.34 1.111.37

0.60

-0.12-0.27

1.05

1.47

1.46

-0.40

0.00

0.40

0.80

1.20

1.60

2.00

2005 2006 2007 2008 1H09 YTD909

(%)

5.8

15.013.4

11.4

14.3

5.1

-1.5-2.9

10.5

16.114.2

-5.0

0.0

5.0

10.0

15.0

20.0

2005 2006 2007 2008 H109 YTD909

(%)

Superior ROA Superior ROACE

… and Industry Leading Returns

BBT Peers


95.9

97.2

99.7 99.6

103.3

92.0

94.0

96.0

98.0

100.0

102.0

104.0

3Q08 4Q08 1Q09 2Q09 3Q09

90.0

92.0

93.9 94.4

107.0

80.0

85.0

90.0

95.0

100.0

105.0

110.0

3Q08 4Q08 1Q09 2Q09 3Q09

Source: Company Reports

Average Loans Average Deposits

Superior Profitability

7.7% Growth

19.2% Growth

Flight to Quality and Colonial Transaction Have Driven Loan and Deposit Growth

($ b

illion

)

($ b

illion

)

Loan growth has been 1.6% excluding acquisitions Deposit growth has been 7.9% excluding acquisitions


BB&T Difference: Values Drive Credit Strategy

• Strategy, structure and process matter– Adherence to practices, policies and procedures– Company-wide accountability for credit

• BB&T’s conservative lending strategy has not waivered• Key points of differentiation

– Better client selection and long-standing relationships– Underwriting discipline– Geographic diversification– Product mix– Granularity– Strict house limits– Strong analytical capabilities and workout team

• Continue to leverage BB&T’s risk management strengths to manage through the cycle and drive superior long-term, risk-adjusted returns

Sound Credit Quality


BB&T’s Long Term Lending Strategy

Strategy Execution Portfolio Results

Corporate values drive strategy Select clients that identify with “value” promise

Lower risk; broader, deeper and more profitable relationships

Relationship focused Target market = prime creditOriginate to hold

Very little sub-prime exposureWork through problems vs. quick charge-off

Compete on value, not price Maintain risk-based pricing discipline

Better risk-adjusted returns (vs. peers)

Serve local communities in Southeast

Target market = localBranch based delivery

In footprint portfolioHigh % direct origination loans

Deliver sustainable, predictable results over the long term

Intense focus on transaction risk mitigationAvoid “trendy” lending and control exposure in “hot” markets

Very granular exposureHigh % of loans secured and guaranteedNo concentrations, except SFR RETraditional, non-exotic products


BB&T’s Long Term Lending Strategy (continued)

Strategy Execution Portfolio Results

Everyone in lending process is accountable

Chief Risk Officer involved in transaction approvals, problem loans and approves charge-offs > $100kLenders “own the loan”Concurring co-approval (2 signatures)

No surprises (“we know what’s going into the portfolio”)Conservative transactions

One company Shared culture, objectives and incentives for credit and salesConsistent training, lending tools and systems

Balanced quality, profitability and growth

Improve financial security of clients Don’t do if you don’t understand it or can’t define client benefit

Increased customer willingness and ability to payLower losses (frequency and severity)


What’s Not in the Portfolio

Loans in high risk geographies outside our footprint

– No exposure to CA, NV, AZ (sand states), rust belt, or Northeast

Loans generated through high risk business models

– No “stand alone” national products exposure– No 3rd party/broker channel exposures in

home equity, CRE

Re-intermediation risk– No SIVs, other off balance sheet portfolios– No “hung loans” from originate-to-distribute

capital markets structured product businesses, e.g., RMBS, CMBS, CDO/CDO2

Risky securities valuation marks– Investment portfolio used for liquidity &

interest rate risk management, not leverage

Exotic products– No Option ARMS, negative

amortization, reverse mortgages– Limited low doc (risk layered)

mortgages, sub-prime mortgages– No CDS– No leveraged finance– No large condo, other CRE projects– No large PUDs– No fully underwritten syndicated

loans (best efforts only)– No covenant lite or enterprise value

corporate loans

Large counterparty exposures– No large ones; limits very similar to

Commercial segment


Benefits of Differentiated Risk Management

Net Charge-offs/Average Loans1Nonperforming Loans / Loans

Peers include CMA, COF, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB and ZION – data based on June 30, 20091Excludes covered loans

2.40%

1.43%

2.08%

0.55%

0.31%0.31%

2.02%

2.75%

0.39% 0.36%

0.84%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

2005 2006 2007 2008 6/30/09 9/30/2009

BB&T Peers

Credit quality consistent relative to peers in good timesSuperior in challenging times


0.89%

1.73%

0.30% 0.27% 0.38%

1.70%

1.39%

0.35%0.26%0.25%

2.38%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

2005 2006 2007 2008 1H09 YTD909

BB&T Peers


Maintaining Strong Reserves

Reserves /Nonperforming LoansReserves / Loans

101%92%

108%111%

200%

144%

124%

115%

87%84%

92%81%

99%

124%

170%

60%

100%

140%

180%

220%

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

BB&T Peers

Peers include CMA, COF, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB and ZION – Data based on June 30, 20091Excludes covered loans

2.49%

2.19%

1.10%1.19%

1.33%

1.62%

1.45%

1.94%

2.80%

1.62%

2.04%

1.56%1.43%

1.28%

2.17%

1.00%

1.40%

1.80%

2.20%

2.60%

3.00%

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

BB&T Peers



Our Loan Portfolio Reflects Our Approach $107.0 Billion Total Loans1

Diversified Product and Channel Mix

Total Commercial: 50% Total Retail: 50%

Diversified Geographic Mix

NC28%

Other7%WV

4%

KY4%

MD/DC9%

TN3%

SC8%

FL8%

GA12%

VA17%


1. Includes Loans Held for Sale

Other CRE12%

LHFS3%

C&I29%

Specialized Lending7%

Revolving Credit2%

Sales Finance6%

SFR ADC6%

Covered Loans8%

Direct Retail Lending13%

Mortgage14%


Results of Exceptional Firm-wide Risk Management


Lower risk balance sheet

Superior credit performance relative to peers

Stable net interest margin – limited interest rate risk

Investment portfolio emphasizes liquidity – credit risk is taken in the loan portfolio

Solid core funding and liquidity

Controlled operating risk

Strong capital position

30

11.1%

10.6%

12.3%

9.2% 9.3% 9.0% 9.1%

11.2%

10.6%

7.5%

8.2%8.3%8.9%

6.0%

8.0%

10.0%

12.0%

14.0%

2004 2005 2006 2007 2008 2Q09 3Q09

BBT Peers

Tier 1 Capital Ratio1

Superior Capital Levels vs. Peers

7.0%

8.4%8.4%

7.2%7.6%

8.5%

8.9%

7.1%7.4%

6.5%7.0%

6.0% 6.0%

4.0%

6.0%

8.0%

10.0%

2004 2005 2006 2007 2008 2Q09 3Q09

BBT Peers

Tier 1 Common Ratio

15.6%

17.4%

14.6% 14.4% 14.3% 14.2%

15.2%

15.1%

14.3%

11.2%12.0%12.0%

12.6%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

2004 2005 2006 2007 2008 2Q09 3Q09

BBT Peers

Total Capital Ratio1

Strong historic focus on common equity component

of capital

1. 2Q09 reflects TARP repayment for BB&T and applicable peersPeers include CMA, COF, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB and ZION – data based on June 30, 2009.

Current quarter regulatory information is preliminary.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. 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.


Dividends are Core to BB&T

Decision to reduce dividend 68% to $0.15 quarter was difficult, but prudent

– Saves ~$725 million of capital annually

– 65 bps of Tier 1 Common

Repaying TARP allows us to revisit dividend level as soon as appropriate

Management and Board understand importance of the dividend to all shareholders

– New level of dividend right for the times

Strong Capital Position


BB&T• Overview

• Strategically compelling and financially-attractive FDIC-assisted Colonial transaction





Future Prospects

Superior profitability and balanced performance

Best positioned for return to fundamental banking– Benefit from flight to quality

Experienced management focused on driving results– Executive Management average years of experience with BB&T is 28– Team’s average age is 50– Team members have essentially all their net worth invested in BB&T

Our business model and consistent strategy have been proven in all operating environments

Achieving greater efficiencies is fundamental to long-term success

Maintain focus on revenue generation and long-term future– Will continue to lend and invest in people and technology


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.

Subsequent to the discussion of such information in any quarterly earnings release, BB&T undertakes no responsibility to update that information should facts and circumstances change.

This presentation repeats information that has been previously disclosed. It should not be interpreted as providing new information, nor as confirming or updating previous disclosures.

Appendix

Reconciliations of Non-GAAPFinancial Measures

36

Cash-Basis Results

Sept. 302009 2008 2007 2006 2005

Efficiency ratio - GAAP 54.3 % 52.0 % 53.9 % 55.6 % 53.3 %Effect of securities gains (losses), net 1.6 .7 - (.6) - Effect of merger-related and restructuring charges, net (.5) .1 (.3) (.3) .2 Effect of foreclosed property expense (3.3) (1.2) (.5) (.3) (.4) Effect of amortization of intangibles (1.2) (1.4) (1.5) (1.6) (1.9) Effect of other special items (.7) .7 (.2) .4 (.7)

Efficiency ratio - reported 50.2 50.9 51.4 53.2 50.5 Fee income ratio - GAAP 45.1 % 42.5 % 41.3 % 39.9 % 39.2 %

Effect of securities gains (losses), net (1.7) (.8) - .7 - Effect of Visa ownership gains - (.6) - - - Effect of leveraged lease settlement - (.4) - - -

Fee income ratio - reported 43.4 40.7 41.3 40.6 39.2

BB&T Corporation

Established 1872


Q3 Earning Report of BB&T Corporation

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