UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
October 26, 2000
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)
This Form 8-K has 1 page.
ITEM 5. OTHER EVENTS
The purpose of this Current Report on Form 8-K is to announce that BB&T Corporation's ("BB&T") Board of Directors, at their October 24, 2000 meeting, approved a new plan to repurchase up to 20 million shares of BB&T common stock as needed for issuance in specific business combinations to be accounted for as purchases.
BB&T has a similar plan, approved by the Board of Directors in April 1999, that provided for the repurchase of up to 10 million shares of BB&T common stock for issuance in specific business combinations to be accounted for as purchases. Substantially all of the shares authorized under this plan have been repurchased in connection with business combinations completed since April 1999 that were accounted for as purchases.
EXHIBIT INDEX
Exhibit 99.1 Repurchase Notification of BB&T Common Stock
October 26, 2000
FOR IMMEDIATE RELEASEContacts:
ANALYSTS MEDIA
Tom A. Nicholson Scott E. Reed Bob Denham
Senior Vice President Sr. Exec. Vice President Senior Vice President
Investor Relations Chief Financial Officer Public Relations
(336) 733-3058 (336) 733-3088 (336) 733-1002
October 26, 2000BB&T announces share buyback program
WINSTON-SALEM, N.C. – Acting under authority granted by the Board of Directors, BB&T Corporation (NYSE:BBT) today announced the approval of a new plan to repurchase up to 20 million shares of its common stock. It is anticipated that share repurchases will be made periodically as needed for issuance in specific business combinations to be accounted for as purchases.
BB&T currently has a plan, approved in April 1999, to repurchase up to 10 million shares of its common stock for issuance in specific business combinations to be accounted for as purchases. Substantially all of the shares authorized under this plan have been repurchased in connection with business combinations completed since April 1999 that were accounted for as purchases.
At September 30, 2000, BB&T had consolidated assets of $56.7 billion and operated 823 banking offices through its subsidiaries in the Carolinas, Georgia, Virginia, West Virginia, Kentucky, Maryland and Washington, D.C.
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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/ SHERRY A. KELLETT
Sherry A. Kellett
Senior Executive Vice President and Controller
(Principal Accounting Officer)
Date: October 26, 2000
