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
February 7, 2002
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 27 pages.
ITEM 5. OTHER EVENTS
The purpose of this Current Report on Form 8-K is to file presentation materials from BB&T's 2002 Investor Conference, held on February 7, 2002.
EXHIBIT INDEX
Exhibit 99.1 Presentation to Analysts on February 7, 2002
Interest Rate Risk /
Financial Management
February 2002
Balance Sheet Management
Balance Sheet Management
Average Balance Sheet Composition - Assets
(for period ending 12/31/01)
Investment Portfolio
Investment Portfolio
Portfolio Composition
(as of 9/30/01)
Investment Portfolio
Portfolio Maturity Distribution
(as of 9/30/01)
Investment Portfolio
Portfolio Size / Maturity Comparison
(as of 9/30/01)
Investment Portfolio
Yields (FTE)
(3rd Quarter 2001)
Deposits & Corporate Funding
Average Balance Sheet Composition - Liabilities
(for period ending 12/31/01)
Deposits & Corporate Funding
Mission
To ensure that core deposit growth is sufficient to support earning asset growth while optimizing interest costs and revenues generated from the deposit base.
Deposits & Corporate Funding
Deposit Market Share
| % of | |||||
|---|---|---|---|---|---|
| BB&T's Deposits | Rank | ||||
| • North Carolina (excludes home office deposits) | 32 | % | 2nd | ||
| • Virginia | 19 | % | 4th | ||
| • Georgia | 12 | % | 6th | ||
| • South Carolina | 10 | % | 3rd | ||
| • West Virginia | 9 | % | 1st | ||
| • Kentucky | 8 | % | 3rd | ||
| • Maryland | 6 | % | 8th | ||
| • Tennessee | 2 | % | 11th | ||
| • DC | 1 | % | 6th | ||
Deposits & Corporate Funding
Average Deposit Growth Analysis
For the periods ended December 31, 2001 and 2000
($ in Thousands)
Deposits & Corporate Funding
Average Deposit Mix & Growth
For Period Ending December 31, 2001
Deposits & Corporate Funding
Average Deposit Mix & Growth*
Transaction, Savings and Money Market Accounts Only
For Period Ending December 31, 2001
Deposits & Corporate Funding
Deposit Cost* Analysis on Interest Bearing
Transaction, Savings & Money Market Accounts
For Period Ending December 31, 2001
Deposits & Corporate Funding
Deposits & Corporate Funding
Believing the transaction account to be the cornerstone of a client relationship, the priority in 2002 is to retain and grow client relationships by:
1) Tracking retention at the region and branch level, with particular focus on new markets.
2) Tracking deposit production at the officer level.
3) Expanding the individual incentive program for relationship officers to include transaction accounts and core deposits.
4) Utilizing 3 sales campaigns to increase deposit production.
5) Enhancing the product line to include various flat fee/no fee transaction accounts in new markets.
6) Grandfathering of existing client accounts for acquired institutions.
7) Developing initiatives focused on deposit rich niche markets for the commercial and small business segments.
8) Enhancing the use of market research to target sales efforts.
Deposits & Corporate Funding
Interest Rate Risk Management
Interest Rate Scenarios - Prime Rate Movements
(as of 12/31/01)
Balance Sheet Management
Interest Rate Risk Management
Net Interest Margin
(for quarter ended)
Interest Rate Risk Management
Capital Management
• The policy of BB&T Corporation is to return 30-40% of its annual earnings to its shareholders in the form of cash dividends.
• BB&T's 10-year compound annual dividend growth rate is 15.6% as compared to 2.6% for the S&P 500.
• BB&T has increased its annual cash dividend for 30 consecutive years.
• BB&T's policy is to maintain a leverage capital ratio of approximately 7-to-8%. 12/31/01 ratio is 7.2%.
Capital Management
• Since the Merger-of-Equals, BB&T has repurchased 61.2 million shares of stock at a cost of $1.82 billion.
• The average price paid since the Merger-of-Equals is $29.68 per share.
• During 2001, BB&T repurchased 14.0 million shares at a cost of $510.8 million. The average price paid during 2001 was $36.47 per share.
• Program's cumulative impact improved EPS by $.17 during 2001 ($2.40 vs. $2.23).
Investor Relations
Agency Ratings
Investor Relations
BB&T CORPORATION
COMMON STOCK OWNERSHIP
December 31, 2001
Investor Relations
Trading Volume - BB&T Common Stock
Investor Relations
Owners as Beneficiaries of Corporate Strategy
• BB&T's 10-year compound annual dividend growth rate is 15.6% as compared to 2.6% for S&P 500
• Over the last 5 years, BB&T's total compound annual return to shareholders is 17.7% compared to 10.7% for the S&P 500 and 10.6% for the S&P major regional banks index
• BB&T's 10-year total compound annual return to shareholders is 21.4% compared to 12.9% for the S&P 500
Source: Bloomberg
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: February 7, 2002