Truist Financial (TFC) 8-K BB&T reports net income of $428 million; Earnings per share total $.78 for the 2ndquarter

Exhibit 99.1

July 17, 2008
FOR IMMEDIATE RELEASE
Contacts:
ANALYSTS		MEDIA
Tamera Gjesdal	Chris Henson	Bob Denham
Senior Vice President	Sr. Exec. Vice President	Senior Vice President
Investor Relations	Chief Financial Officer	Corporate Communications
(336) 733-3058	(336)  733-3008	(336)  733-1475

BB&T reports net income of $428 million;
Earnings per share total $.78 for the 2^ndquarter

     WINSTON-SALEM, N.C. -- BB&T Corporation (NYSE: BBT) reported today net income for the second quarter of 2008 totaling $428 million, or $.78 per diluted share, compared with $458 million, or $.83 per diluted share, earned during the second quarter of 2007. These results reflect decreases of 6.6% and 6.0%, respectively, compared to the same quarter last year.

     BB&T’s second quarter net income produced annualized returns on average assets and average shareholders’ equity of 1.27% and 13.27%, respectively, compared to prior year returns of 1.47% and 15.18%, respectively.

      Operating earnings for the second quarter of 2008 totaled $377 million, or $.69 per diluted share, excluding a $30 million after-tax gain from the sale of Visa stock, a $22 million after-tax gain from an extinguishment of debt and $1 million in net after-tax merger-related and restructuring charges. Operating earnings for the second quarter of 2007 totaled $461 million, or $.83 per diluted share, excluding $3 million in net after-tax merger-related and restructuring charges.

     GAAP and operating results include a $330 million provision for credit losses. The provision exceeded net charge-offs by $160 million and resulted in an increase in the allowance for loan and lease losses as a percentage of loans and leases held for investment to 1.33% .

     Cash basis operating results exclude the unamortized balances of intangibles from assets and shareholders’ equity and exclude the amortization of intangibles, the net amortization of purchase accounting mark-to-market adjustments, merger-related and restructuring charges or credits and nonrecurring items from earnings. Cash basis operating earnings totaled $392 million for the second quarter of 2008 compared to $477 million earned in the second quarter of 2007. Cash basis operating diluted earnings per share totaled $.71 for the second quarter of 2008 compared to $.86 earned during the same period in 2007. Cash basis operating earnings for the second quarter of 2008 produced annualized returns on average tangible assets and average tangible shareholders’ equity of 1.22% and 21.44%, respectively, compared to prior year returns of 1.61% and 28.48%, respectively.

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     “Wlile we continue to be affected by the challenges of the current credit cycle, the encouraging news is that our core operations are producing solid results,” said Chairman and Chief Executive Officer John A. Allison. “Nonperforming assets and net charge-offs continued to increase during the quarter, as did the provision for credit losses. We remain focused on client service and are partnering with our clients to prudently work through the challenging economic environment. In addition, we are working to aggressively deal with problem assets, and believe our credit issues are manageable.

     “Revenue growth was solid during the quarter, driven primarily by an increase in net interest income and an improvement in our net interest margin to 3.65% . Also, we enjoyed healthy loan growth and improved noninterest income as many of our fee income businesses turned in strong performances this quarter. Finally, we were very pleased to increase the quarterly cash dividend, extending a long history of dividend increases. Despite the numerous challenges being faced by the financial services industry, BB&T is stable, financially sound and has healthy capital levels.”

     For the first six months of 2008, BB&T’s net income was $856 million compared to $879 million earned in the first six months of 2007, a decrease of 2.6% . Diluted earnings per share for the first half of 2008 totaled $1.56 compared to $1.60 earned during the same period in 2007. Excluding merger-related and restructuring charges or credits and nonrecurring items, operating earnings for the first half of 2008 totaled $778 million, or $1.42 per diluted share, compared to $886 million, or $1.61 per diluted share, earned during the first six months of 2007.

Nonperforming Assets and Credit Losses Increase

     BB&T’s nonperforming asset levels and credit losses increased further in the second quarter of 2008 compared to the first quarter of 2008. Nonperforming assets, as a percentage of total assets, increased to .95% at June 30, compared to .73% at March 31 and .33% at June 30, 2007. Annualized net charge-offs were .72% of average loans and leases for the second quarter of 2008, up from .54% in the first quarter of 2008 and .35% in the second quarter of 2007. Excluding losses incurred by BB&T’s specialized lending subsidiaries, annualized net charge-offs for the current quarter were .53% of average loans and leases compared to .32% in the first quarter of 2008 and .20% in the second quarter of 2007.

     The provision for credit losses totaled $330 million in the second quarter of 2008, an increase of $242 million compared to the same quarter last year, and exceeded net charge-offs by $160 million in the current quarter. The increases in net charge-offs, nonperforming assets and the provision for credit losses were largely driven by continued challenges in residential real estate markets with the largest concentration of credit issues occurring in Georgia, Florida and metro Washington, D.C.

Net interest margin improves to 3.65%

     BB&T’s fully taxable equivalent net interest income totaled $1.1 billion for the second quarter, an increase of 10.7% compared to the same quarter of 2007. The net interest margin was 3.65% for the current quarter, up 11 basis points from 3.54% for the first quarter of 2008. The increase marks the third consecutive quarter that BB&T’s margin has improved. Management currently anticipates some continued expansion of the net interest margin for the remainder of the year.

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

     On an operating basis, noninterest income increased $51 million, or 7.0%, during the second quarter of 2008 compared to 2007. These increases include higher revenues generated by BB&T’s insurance operations, service charges on deposit accounts and other nondeposit fees and commissions as well as a solid performance from BB&T’s mortgage banking operations.

     Income from BB&T’s insurance operations increased 3.5% to a record $237 million in the current quarter compared with $229 million earned during the second quarter last year. This increase was primarily the result of new product initiatives that were introduced during the second half of 2007.

     Service charges on deposit accounts totaled $172 million for the second quarter of 2008, an increase of 13.9% compared to $151 million earned in the same quarter last year. This increase was primarily attributable to growth in revenues from overdraft items.

     Other nondeposit fees and commissions totaled $139 million for the second quarter of 2008, an increase of 9.4% compared to the second quarter of 2007. This increase was generated primarily by growth in bankcard income and debit card related services.

     Revenues from mortgage banking operations totaled $57 million for the second quarter of 2008, an increase of $26 million, or 83.9%, compared to the second quarter of 2007. This increase reflects the adoption of fair value accounting standards and the net change in the mortgage servicing rights valuation. Fair value accounting increased mortgage banking income by $19 million, and also resulted in a $16 million increase in personnel expense during the quarter. The net change in the valuation of mortgage servicing rights resulted in a $5 million decline compared to the second quarter of 2007. Excluding the impact of these items, mortgage banking income increased $12 million, or 37.5%, compared to the same period last year. The growth in mortgage is primarily due to increased income from loan servicing.

     Other noninterest income, on an operating basis, totaled $39 million for the second quarter of 2008 compared to $61 million earned in the same quarter last year, a decrease of 36.1% . The adoption of fair value accounting standards resulted in a decline of $6 million in other income. In addition, net revenues from BB&T’s venture capital investments declined $15 million, and earnings from investments in low income housing partnerships that generate tax benefits declined $13 million compared to the second quarter of 2007.

Loan Growth Remains Healthy – Up 9.1%

     Average loans and leases totaled $94.9 billion for the second quarter of 2008, reflecting an increase of $7.9 billion, or 9.1%, compared to the second quarter of 2007. This increase was composed of growth in average commercial loans and leases, which increased $5.2 billion, or 12.3%; average mortgage loans, which increased $1.7 billion, or 9.7%; average sales finance loans, which increased $365 million, or 6.3%; average revolving credit loans, which increased $211 million, or 14.9%; average direct retail loans, which increased $146 million, or 0.9%; and growth in average loans originated by BB&T’s specialized lending subsidiaries, which increased $371 million, or 7.3%, compared to the second quarter last year.

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BB&T Increases Quarterly Cash Dividend; Capital Levels Remain Strong

     On June 24, BB&T’s Board of Directors approved a 2.2% increase in the quarterly cash dividend paid to shareholders. The increase, to $.47 per share, marks the 37^th consecutive year that BB&T has raised its cash dividend to shareholders. BB&T has paid a cash dividend to shareholders every year since 1903. The 10-year compound growth rate for BB&T’s quarterly dividend payment is 10.4% . This excellent dividend paying history has gained BB&T recognition as a Mergent Dividend Achiever and a Standard and Poor’s Dividend Aristocrat.

      BB&T’s tangible and regulatory capital levels remained healthy at June 30. BB&T’s tangible capital ratio was 5.7% at June 30, and the Tier 1 leverage ratio was 7.2% . In addition, BB&T’s Tier 1 risk-based capital and total risk-based capital ratios were 8.9% and 14.1%, respectively. BB&T’s risk-based capital ratios are significantly higher than an average of its peers, and remain well above regulatory standards for well-capitalized banks.

BB&T Continues to Expand Insurance Business

     On June 2, BB&T Insurance Services continued its expansion with the acquisition of UnionBanc Insurance Services Inc. of San Diego, Ca. This acquisition will strengthen BB&T's overall investment in insurance on the West Coast.

     At June 30, BB&T had $136.5 billion in assets and operated 1,489 banking offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. BB&T’s common stock is traded on the New York Stock Exchange under the trading symbol BBT. The closing price of BB&T’s common stock on July 16 was $24.50 per share.

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

Earnings Webcast

     To hear a live webcast of BB&T’s second quarter 2008 earnings conference call at 11:00 a.m. (EDT) today, please visit our Web site atwww.BBT.com. Replays of the conference call will be available through our Web site until 5 p.m. (EDT) on Friday, Aug. 1.

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     Risk-based capital ratios are preliminary.

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

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

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

		For the Three Months Ended					Increase (Decrease)
(Dollars in millions, except per share data)			6/30/08		6/30/07		$		%
OPERATING EARNINGS STATEMENTS (1)
Interest income - taxable equivalent		$	1,817	$	1,980	$	(163	)	(8.2	) %
Interest expense			727		995		(268	)	(26.9	)
Net interest income - taxable equivalent			1,090		985		105		10.7
Less: Taxable equivalent adjustment			22		19		3		15.8
Net interest income			1,068		966		102		10.6
Provision for credit losses			330		88		242		275.0
Net interest income after provision for credit losses			738		878		(140	)	(15.9	)
Noninterest income			780		729		51		7.0
Noninterest expense			997		918		79		8.6
Operating earnings before income taxes			521		689		(168	)	(24.4	)
Provision for income taxes			144		228		(84	)	(36.8	)
Operating earnings (1)		$	377	$	461	$	(84	)	(18.2	) %
PER SHARE DATA BASED ON OPERATING EARNINGS (1)
Basic earnings		$	.69	$	.84	$	(.15	)	(17.9	) %
Diluted earnings			.69		.83		(.14	)	(16.9	)
Weighted average shares (in thousands) -	Basic		546,628		548,385
	Diluted		549,758		553,935
Dividends paid per share		$	.46	$	.42	$	.04		9.5	%
PERFORMANCE RATIOS BASED ON OPERATING EARNINGS (1)
Return on average assets			1.12	%	1.48	%
Return on average equity			11.69		15.28
Net yield on earning assets (taxable equivalent)			3.65		3.55
Noninterest income as a percentage of
total income (taxable equivalent) (2)			41.6		42.6
Efficiency ratio (taxable equivalent) (2)			52.5		53.2
CASH BASIS PERFORMANCE
BASED ON OPERATING EARNINGS (1)(3)
Cash basis operating earnings		$	392	$	477	$	(85	)	(17.8	) %
Diluted earnings per share			.71		.86		(.15	)	(17.4	)
Return on average tangible assets			1.22	%	1.61	%
Return on average tangible equity			21.44		28.48
Efficiency ratio (taxable equivalent) (2)			51.2		51.7
			For the Three Months Ended				Increase (Decrease)
(Dollars in millions, except per share data)			6/30/08		6/30/07		$		%
INCOME STATEMENTS
Interest income		$	1,790	$	1,961	$	(171	)	(8.7	) %
Interest expense			722		995		(273	)	(27.4	)
Net interest income			1,068		966		102		10.6
Provision for credit losses			330		88		242		275.0
Net interest income after provision for credit losses			738		878		(140	)	(15.9	)
Noninterest income			827		729		98		13.4
Noninterest expense			962		923		39		4.2
Income before income taxes			603		684		(81	)	(11.8	)
Provision for income taxes			175		226		(51	)	(22.6	)
Net income		$	428	$	458	$	(30	)	(6.6	) %
PER SHARE DATA
Basic earnings		$	.78	$	.84	$	(.06	)	(7.1	) %
Diluted earnings			.78		.83		(.05	)	(6.0	)
Weighted average shares (in thousands) -	Basic		546,628		548,385
	Diluted		549,758		553,935
PERFORMANCE RATIOS BASED ON NET INCOME
Return on average assets			1.27	%	1.47	%
Return on average equity			13.27		15.18
Efficiency ratio (taxable equivalent) (2)			49.4		53.5

NOTES:	Applicable ratios are annualized.
	(1) Operating earnings exclude the effect of merger-related and restructuring charges or credits and nonrecurring items. These amounts totaled $(51 million)
	and $3 million, net of tax, in the second quarters of 2008 and 2007, respectively. See Reconciliation Tables included herein.
	(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage
	servicing rights-related derivatives. Cash basis and operating ratios also exclude merger-related and restructuring charges or credits and nonrecurring items, where
	applicable. See Reconciliation Tables included herein.
	(3) Cash basis performance information excludes the effect on earnings of amortization expense applicable to intangible assets, the unamortized balances of
	intangibles from assets and equity, net of deferred taxes, and the net amortization of purchase accounting mark-to-market adjustments. See Reconciliation
	Tables included herein.

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

			For the Six Months Ended				Increase (Decrease)
(Dollars in millions, except per share data)			6/30/08		6/30/07		$		%
OPERATING EARNINGS STATEMENTS (1)
Interest income - taxable equivalent		$	3,735	$	3,889	$	(154	)	(4.0	) %
Interest expense			1,611		1,941		(330	)	(17.0	)
Net interest income - taxable equivalent			2,124		1,948		176		9.0
Less: Taxable equivalent adjustment			39		37		2		5.4
Net interest income			2,085		1,911		174		9.1
Provision for credit losses			553		159		394		247.8
Net interest income after provision for credit losses			1,532		1,752		(220	)	(12.6	)
Noninterest income			1,517		1,381		136		9.8
Noninterest expense			1,942		1,795		147		8.2
Operating earnings before income taxes			1,107		1,338		(231	)	(17.3	)
Provision for income taxes			329		452		(123	)	(27.2	)
Operating earnings (1)		$	778	$	886	$	(108	)	(12.2	) %
PER SHARE DATA BASED ON OPERATING EARNINGS (1)
Basic earnings		$	1.42	$	1.63	$	(.21	)	(12.9	) %
Diluted earnings			1.42		1.61		(.19	)	(11.8	)
Weighted average shares (in thousands) -	Basic		546,421		545,136
	Diluted		549,344		550,556
Dividends paid per share		$	.92	$	.84	$	.08		9.5	%
PERFORMANCE RATIOS BASED ON OPERATING EARNINGS (1)
Return on average assets			1.16	%	1.45	%
Return on average equity			12.08		15.12
Net yield on earning assets (taxable equivalent)			3.59		3.58
Noninterest income as a percentage of
total income (taxable equivalent) (2)			40.9		41.6
Efficiency ratio (taxable equivalent) (2)			53.2		53.4
CASH BASIS PERFORMANCE
BASED ON OPERATING EARNINGS (1)(3)
Cash basis operating earnings		$	810	$	918	$	(108	)	(11.8	) %
Diluted earnings per share			1.48		1.67		(.19	)	(11.4	)
Return on average tangible assets			1.27	%	1.58	%
Return on average tangible equity			22.12		28.35
Efficiency ratio (taxable equivalent) (2)			51.7		51.9
			For the Six Months Ended				Increase (Decrease)
(Dollars in millions, except per share data)			6/30/08		6/30/07		$		%
INCOME STATEMENTS
Interest income		$	3,685	$	3,852	$	(167	)	(4.3	) %
Interest expense			1,600		1,941		(341	)	(17.6	)
Net interest income			2,085		1,911		174		9.1
Provision for credit losses			553		159		394		247.8
Net interest income after provision for credit losses			1,532		1,752		(220	)	(12.6	)
Noninterest income			1,598		1,381		217		15.7
Noninterest expense			1,898		1,806		92		5.1
Income before income taxes			1,232		1,327		(95	)	(7.2	)
Provision for income taxes			376		448		(72	)	(16.1	)
Net income		$	856	$	879	$	(23	)	(2.6	) %
PER SHARE DATA
Basic earnings		$	1.57	$	1.61	$	(.04	)	(2.5	) %
Diluted earnings			1.56		1.60		(.04	)	(2.5	)
Weighted average shares (in thousands) -	Basic		546,421		545,136
	Diluted		549,344		550,556
PERFORMANCE RATIOS BASED ON NET INCOME
Return on average assets			1.28	%	1.44	%
Return on average equity			13.29		15.00
Efficiency ratio (taxable equivalent) (2)			50.8		53.8

NOTES:	Applicable ratios are annualized.
	(1) Operating earnings exclude the effect of merger-related and restructuring charges or credits and nonrecurring items. These amounts totaled $(78 million)
	and $7 million, net of tax, in 2008 and 2007, respectively. See Reconciliation Tables included herein.
	(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage
	servicing rights-related derivatives. Cash basis and operating ratios also exclude merger-related and restructuring charges or credits and nonrecurring items, where
	applicable. See Reconciliation Tables included herein.
	(3) Cash basis performance information excludes the effect on earnings of amortization expense applicable to intangible assets, the unamortized balances of intangibles from
	assets and equity, net of deferred taxes, and the net amortization of purchase accounting mark-to-market adjustments. See Reconciliation Tables included herein.

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

					As of / For the Six Months Ended						Increase (Decrease)
(Dollars in millions)					6/30/08			6/30/07			$			%
CONSOLIDATED BALANCE SHEETS
End of period balances
Cash and due from banks				$	1,913		$	1,745		$	168			9.6	%
Interest-bearing deposits with banks					748			769			(21	)		(2.7	)
Federal funds sold and other earning assets					227			419			(192	)		(45.8	)
Securities available for sale					22,657			22,254			403			1.8
Trading securities					514			1,067			(553	)		(51.8	)
Total securities					23,171			23,321			(150	)		(.6	)
Commercial loans and leases					47,790			42,632			5,158			12.1
Direct retail loans					15,623			15,520			103			.7
Sales finance loans					6,266			5,889			377			6.4
Revolving credit loans					1,667			1,461			206			14.1
Mortgage loans					17,304			16,640			664			4.0
Specialized lending					5,550			5,248			302			5.8
Total loans and leases held for investment					94,200			87,390			6,810			7.8
Loans held for sale					1,515			1,152			363			31.5
Total loans and leases					95,715			88,542			7,173			8.1
Allowance for loan and lease losses					1,257			920			337			36.6
Total earning assets					120,300			113,599			6,701			5.9
Premises and equipment, net					1,557			1,485			72			4.8
Goodwill					5,306			5,114			192			3.8
Core deposit and other intangibles					505			504			1			.2
Other assets					8,580			6,598			1,982			30.0
Total assets					136,465			127,577			8,888			7.0
Noninterest-bearing deposits					13,567			13,641			(74	)		(.5	)
Interest checking					2,542			1,384			1,158			83.7
Other client deposits					36,871			35,741			1,130			3.2	��
Client certificates of deposit					26,801			27,445			(644	)		(2.3	)
Total client deposits					79,781			78,211			1,570			2.0
Other interest-bearing deposits					8,433			5,868			2,565			43.7
Total deposits					88,214			84,079			4,135			4.9
Fed funds purchased, repos and other borrowings					10,804			9,410			1,394			14.8
Long-term debt					20,556			18,313			2,243			12.2
Total interest-bearing liabilities					106,007			98,161			7,846			8.0
Other liabilities					4,091			3,650			441			12.1
Total liabilities					123,665			115,452			8,213			7.1
Total shareholders' equity				$	12,800		$	12,125		$	675			5.6	%
Average balances
Securities, at amortized cost				$	23,656		$	22,502		$	1,154			5.1	%
Commercial loans and leases					46,323			41,531			4,792			11.5
Direct retail loans					15,612			15,355			257			1.7
Sales finance loans					6,109			5,779			330			5.7
Revolving credit loans					1,615			1,402			213			15.2
Mortgage loans					18,738			16,858			1,880			11.2
Specialized lending					5,395			4,997			398			8.0
Total loans and leases					93,792			85,922			7,870			9.2
Allowance for loan and lease losses					1,068			905			163			18.0
Other earning assets					1,158			904			254			28.1
Total earning assets					118,606			109,328			9,278			8.5
Total assets					134,491			122,961			11,530			9.4
Noninterest-bearing deposits					12,881			13,158			(277	)		(2.1	)
Interest checking					2,433			2,348			85			3.6
Other client deposits					34,750			33,628			1,122			3.3
Client certificates of deposit					26,903			25,498			1,405			5.5
Total client deposits					76,967			74,632			2,335			3.1
Other interest-bearing deposits					9,667			7,607			2,060			27.1
Total deposits					86,634			82,239			4,395			5.3
Fed funds purchased, repos and other borrowings					10,555			8,317			2,238			26.9
Long-term debt					20,449			17,286			3,163			18.3
Total interest-bearing liabilities					104,757			94,684			10,073			10.6
Total shareholders' equity				$	12,955		$	11,819		$	1,136			9.6	%
		As of / For the Quarter Ended
(Dollars in millions, except per share data)		6/30/08			3/31/08			12/31/07			9/30/07			6/30/07
MISCELLANEOUS INFORMATION
Unrealized appreciation (depreciation) on
securities available for sale, net of tax	$	(274	)	$	(18	)	$	(28	)	$	(150	)	$	(339	)
Derivatives (notional value)		59,795			57,925			47,197			43,051			36,108
Fair value of derivatives portfolio		156			380			181			34			(175	)
Common stock prices:	High	37.85			36.96			42.61			43.00			43.02
	Low	21.40			25.92			30.36			36.95			39.13
	End of period	22.77			32.06			30.67			40.39			40.68
Weighted average shares (in thousands) -	Basic	546,628			546,214			547,795			550,603			548,385
	Diluted	549,758			548,946			551,078			555,336			553,935
End of period shares outstanding (in thousands)		546,928			546,799			545,955			549,337			551,948
End of period banking offices		1,489			1,494			1,492			1,501			1,507
ATMs		2,173			2,165			2,158			2,166			2,170
FTEs		30,089			29,726			29,394			28,886			28,961
NOTES: All items referring to average loans and leases include loans held for sale.

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

		As of / For the Quarter Ended
(Dollars in millions, except per share data)		6/30/08		3/31/08		12/31/07		9/30/07		6/30/07
OPERATING EARNINGS STATEMENTS (1)
Interest income - taxable equivalent
Interest and fees on loans and leases	$	1,512	$	1,604	$	1,715	$	1,730	$	1,682
Interest and dividends on securities		299		303		308		307		285
Interest on short-term investments		6		11		14		14		13
Total interest income - taxable equivalent		1,817		1,918		2,037		2,051		1,980
Interest expense
Interest on deposits		455		564		655		679		639
Interest on fed funds purchased, repos and other borrowings		64		94		118		117		102
Interest on long-term debt		208		226		256		263		254
Total interest expense		727		884		1,029		1,059		995
Net interest income - taxable equivalent		1,090		1,034		1,008		992		985
Less: Taxable equivalent adjustment		22		17		17		14		19
Net interest income		1,068		1,017		991		978		966
Provision for credit losses		330		223		184		105		88
Net interest income after provision for
credit losses		738		794		807		873		878
Noninterest income
Insurance income		237		212		221		206		229
Service charges on deposits		172		154		165		157		151
Other nondeposit fees and commissions		139		128		133		129		127
Investment banking and brokerage fees and commissions		88		86		85		87		89
Trust and investment advisory revenues		38		40		42		40		40
Mortgage banking income		57		59		27		27		31
Securities gains (losses), net		10		43		1		6		1
Other noninterest income		39		15		44		23		61
Total noninterest income		780		737		718		675		729
Noninterest expense
Personnel expense		565		547		516		514		540
Occupancy and equipment expense		124		123		126		118		117
Foreclosed property expense		17		13		13		5		6
Amortization of intangibles		25		27		27		26		26
Other noninterest expense		266		235		243		218		229
Total noninterest expense		997		945		925		881		918
Operating earnings before income taxes		521		586		600		667		689
Provision for income taxes		144		185		185		219		228
Operating earnings (1)	$	377	$	401	$	415	$	448	$	461
PER SHARE DATA BASED ON
OPERATING EARNINGS (1)
Basic earnings	$	.69	$	.73	$	.76	$	.81	$	.84
Diluted earnings		.69		.73		.75		.81		.83
Dividends paid per share		.46		.46		.46		.46		.42
PERFORMANCE RATIOS BASED ON
OPERATING EARNINGS (1)
Return on average assets		1.12	%	1.21	%	1.26	%	1.38	%	1.48	%
Return on average equity		11.69		12.47		13.00		14.38		15.28
Net yield on earning assets (taxable equivalent)		3.65		3.54		3.46		3.45		3.55
Efficiency ratio (taxable equivalent) (2)		52.5		54.0		52.8		52.9		53.2
Noninterest income as a percentage of
total income (taxable equivalent) (2)		41.6		40.2		41.7		40.1		42.6
Average earning assets as a percentage of
average total assets		88.4		88.0		88.6		89.0		88.9
Average loans and leases as a percentage of
average deposits		109.4		107.1		106.5		105.8		106.1
CASH BASIS PERFORMANCE BASED ON
OPERATING EARNINGS (1) (3)
Cash basis operating earnings	$	392	$	418	$	432	$	466	$	477
Diluted earnings per share		.71		.76		.78		.84		.86
Return on average tangible assets		1.22	%	1.32	%	1.37	%	1.50	%	1.61	%
Return on average tangible equity		21.44		22.81		24.03		26.86		28.48
Efficiency ratio (taxable equivalent) (2)		51.2		52.4		51.3		51.3		51.7

NOTES:	Applicable ratios are annualized.
	(1) Operating earnings exclude the effect of merger-related and restructuring charges or credits and nonrecurring items. These amounts totaled $(51 million),
	$(27 million), $4 million, $4 million and $3 million, net of tax, for the quarters ended June 30, 2008, March 31, 2008, December 31, 2007, September 30, 2007,
	and June 30, 2007, respectively. See Reconciliation Tables included herein.
	(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage
	servicing rights-related derivatives. Cash basis and operating ratios also exclude merger-related and restructuring charges or credits and nonrecurring items, where
	applicable. See Reconciliation Tables included herein.
	(3) Cash basis operating performance information excludes the effect on earnings of amortization expense applicable to intangible assets, the unamortized balances of intangibles from
	assets and equity, net of deferred taxes, and the net amortization of purchase accounting mark-to-market adjustments. See Reconciliation Tables included herein.

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

		As of / For the Quarter Ended
(Dollars in millions, except per share data)		6/30/08		3/31/08		12/31/07		9/30/07		6/30/07
INCOME STATEMENTS
Interest income
Interest and fees on loans and leases	$	1,501	$	1,595	$	1,706	$	1,719	$	1,675
Interest and dividends on securities		283		289		292		297		273
Interest on short-term investments		6		11		14		14		13
Total interest income		1,790		1,895		2,012		2,030		1,961
Interest expense
Interest on deposits		455		564		655		679		639
Interest on fed funds purchased, repos and other borrowings		59		88		110		110		102
Interest on long-term debt		208		226		256		263		254
Total interest expense		722		878		1,021		1,052		995
Net interest income		1,068		1,017		991		978		966
Provision for credit losses		330		223		184		105		88
Net interest income after provision for
credit losses		738		794		807		873		878
Noninterest income
Insurance income		237		212		221		206		229
Service charges on deposits		172		154		165		157		151
Other nondeposit fees and commissions		139		128		133		129		127
Investment banking and brokerage fees and commissions		88		86		85		87		89
Trust and investment advisory revenues		38		40		42		40		40
Mortgage banking income		57		59		27		27		31
Securities gains (losses), net		10		43		1		6		1
Other noninterest income		86		49		44		23		61
Total noninterest income		827		771		718		675		729
Noninterest expense
Personnel expense		565		547		516		514		540
Occupancy and equipment expense		124		123		126		118		117
Foreclosed property expense		17		13		13		5		6
Amortization of intangibles		25		27		27		26		26
Merger-related and restructuring charges (credits), net		1		5		3		7		5
Other noninterest expense		230		221		257		218		229
Total noninterest expense		962		936		942		888		923
Income before income taxes		603		629		583		660		684
Provision for income taxes		175		201		172		216		226
Net income	$	428	$	428	$	411	$	444	$	458
PER SHARE DATA
Basic earnings	$	.78	$	.78	$	.75	$	.81	$	.84
Diluted earnings		.78		.78		.75		.80		.83
		For the Quarter Ended
		6/30/08		3/31/08		12/31/07		9/30/07		6/30/07
ANNUALIZED INTEREST YIELDS / RATES (1)
Interest income:
Securities:
U.S. government-sponsored entities (GSE)		5.18	%	4.75	%	4.67	%	4.66	%	4.60	%
Mortgage-backed securities issued by GSE		4.79		5.14		5.27		5.21		5.02
States and political subdivisions		6.07		6.32		6.73		6.36		6.87
Non-agency mortgage-backed securities		5.81		5.81		5.80		5.79		5.77
Other securities		5.19		6.17		7.72		6.48		6.30
Trading securities		2.81		5.89		4.06		4.54		4.36
Total securities		5.01		5.18		5.15		5.05		4.94
Loans:
Commercial loans and leases		5.59		6.47		7.41		7.85		7.92
Direct retail loans		6.47		6.94		7.29		7.40		7.39
Sales finance loans		6.60		6.72		6.88		6.71		6.56
Revolving credit loans		10.86		11.78		12.47		12.93		13.01
Mortgage loans		5.99		6.03		6.07		6.05		5.96
Specialized lending		12.99		13.22		13.10		13.02		13.37
Total loans		6.40		6.95		7.50		7.72		7.75
Other earning assets		2.48		3.41		4.48		4.96		5.26
Total earning assets		6.09		6.56		6.98		7.13		7.14
Interest expense:
Interest-bearing deposits:
Interest checking		.97		1.76		2.22		2.33		2.30
Other client deposits		1.57		2.11		2.69		2.94		2.85
Client certificates of deposit		3.73		4.30		4.58		4.64		4.63
Other interest-bearing deposits		2.74		3.38		4.72		5.22		5.34
Total interest-bearing deposits		2.49		3.07		3.60		3.80		3.73
Fed funds purchased, repos and other borrowings		2.51		3.50		4.37		4.71		4.55
Long-term debt		3.83		4.73		5.39		5.59		5.51
Total interest-bearing liabilities		2.77		3.42		4.02		4.23		4.15
Net yield on earning assets		3.65	%	3.54	%	3.46	%	3.45	%	3.55	%
NOTES: (1) Fully taxable equivalent yields. Securities yields calculated based on amortized cost.

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

		As of / For the Quarter Ended
(Dollars in millions, except per share data)		6/30/08			3/31/08		12/31/07			9/30/07			6/30/07
SELECTED BALANCE SHEET DATA
End of period balances
Securities available for sale	$	22,657		$	23,487	$	22,419		$	23,061		$	22,254
Trading securities		514			609		1,009			1,587			1,067
Total securities		23,171			24,096		23,428			24,648			23,321
Commercial loans and leases		47,790			46,277		44,870			43,365			42,632
Direct retail loans		15,623			15,570		15,691			15,586			15,520
Sales finance loans		6,266			6,052		6,021			6,056			5,889
Revolving credit loans		1,667			1,598		1,618			1,535			1,461
Mortgage loans		17,304			17,446		17,467			17,051			16,640
Specialized lending		5,550			5,186		5,240			5,288			5,248
Total loans and leases held for investment		94,200			92,129		90,907			88,881			87,390
Loans held for sale		1,515			1,822		779			1,178			1,152
Total loans and leases		95,715			93,951		91,686			90,059			88,542
Allowance for loan and lease losses		1,257			1,097		1,004			934			920
Other earning assets		975			1,098		1,307			1,111			1,188
Total earning assets		120,300			119,174		116,466			116,057			113,599
Total assets		136,465			136,417		132,618			130,781			127,577
Noninterest-bearing deposits		13,567			13,377		13,059			13,197			13,641
Interest checking		2,542			1,150		1,201			1,128			1,384
Other client deposits		36,871			35,196		35,504			35,391			35,741
Client certificates of deposit		26,801			26,819		26,972			26,315			27,445
Total client deposits		79,781			76,542		76,736			76,031			78,211
Other interest-bearing deposits		8,433			10,939		10,030			9,154			5,868
Total deposits		88,214			87,481		86,766			85,185			84,079
Fed funds purchased, repos and other borrowings		10,804			9,610		10,634			10,618			9,410
Long-term debt		20,556			21,544		18,693			19,059			18,313
Total interest-bearing liabilities		106,007			105,258		103,034			101,665			98,161
Total shareholders' equity		12,800			12,842		12,632			12,402			12,125
Goodwill		5,306			5,226		5,194			5,132			5,114
Core deposit and other intangibles		505			474		489			491			504
Total intangibles		5,811			5,700		5,683			5,623			5,618
Mortgage servicing rights	$	702		$	496	$	560		$	567		$	609
Average balances
Securities, at amortized cost	$	23,898		$	23,414	$	23,967		$	24,246		$	23,124
Commercial loans and leases		47,098			45,549		43,969			42,838			41,935
Direct retail loans		15,584			15,639		15,640			15,534			15,438
Sales finance loans		6,188			6,031		6,042			6,006			5,823
Revolving credit loans		1,628			1,602		1,548			1,485			1,417
Mortgage loans		18,902			18,574		18,297			17,922			17,231
Specialized lending		5,466			5,323		5,309			5,305			5,095
Total loans and leases		94,866			92,718		90,805			89,090			86,939
Allowance for loan and lease losses		1,118			1,018		945			931			916
Other earning assets		1,035			1,282		1,257			1,105			967
Total earning assets		119,799			117,414		116,029			114,441			111,030
Total assets		135,557			133,425		131,009			128,633			124,848
Noninterest-bearing deposits		13,086			12,676		13,040			13,248			13,367
Interest checking		2,566			2,301		2,293			2,202			2,487
Other client deposits		34,650			34,851		34,981			34,836			33,860
Client certificates of deposit		26,742			27,061		26,682			26,456			25,919
Total client deposits		77,044			76,889		76,996			76,742			75,633
Other interest-bearing deposits		9,641			9,694		8,264			7,481			6,326
Total deposits		86,685			86,583		85,260			84,223			81,959
Fed funds purchased, repos and other borrowings		10,350			10,760		10,739			9,892			9,000
Long-term debt		21,697			19,201		18,864			18,721			18,471
Total interest-bearing liabilities		105,646			103,868		101,823			99,588			96,063
Total shareholders' equity	$	12,982		$	12,929	$	12,655		$	12,359		$	12,113
SELECTED CAPITAL INFORMATION (1)
Risk-based capital:
Tier 1	$	9,319		$	9,287	$	9,085		$	9,048		$	8,936
Total		14,675			14,644		14,233			14,081			13,968
Risk-weighted assets		104,435			103,546		100,053			96,926			94,732
Average quarterly tangible assets		129,917			127,653		125,515			123,480			119,636
Risk-based capital ratios:
Tier 1		8.9	%		9.0	%	9.1	%		9.3	%		9.4	%
Total		14.1			14.1		14.2			14.5			14.7
Leverage capital ratio		7.2			7.3		7.2			7.3			7.5
Equity as a percentage of total assets		9.4			9.4		9.5			9.5			9.5
Tangible equity as a percentage of tangible assets (2)		5.7			5.6		5.7			5.7			5.8
Book value per share	$	23.40		$	23.49	$	23.14		$	22.58		$	21.97
Tangible book value per share (2)		13.60			13.47		13.18			13.09			12.88
:

NOTES	All items referring to average loans and leases include loans held for sale.
	(1) Current quarter risk-based capital information is preliminary.
	(2) Tangible equity and assets are based on regulatory Tier 1 capital definition.

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

		As of / For the Quarter Ended
(Dollars in millions)		6/30/08			3/31/08			12/31/07			9/30/07			6/30/07
ASSET QUALITY ANALYSIS
Allowance For Credit Losses
Beginning balance	$	1,113		$	1,015		$	941		$	926		$	901
Allowance for acquired (sold) loans, net		-			-			1			-			13
Provision for credit losses		330			223			184			105			88
Charge-offs
Commercial loans and leases		(48	)		(18	)		(26	)		(18	)		(11	)
Direct retail loans		(38	)		(28	)		(18	)		(20	)		(22	)
Sales finance loans		(13	)		(13	)		(10	)		(9	)		(6	)
Revolving credit loans		(18	)		(18	)		(11	)		(12	)		(12	)
Mortgage loans		(13	)		(5	)		(6	)		(1	)		(2	)
Specialized lending		(55	)		(59	)		(54	)		(45	)		(40	)
Total charge-offs		(185	)		(141	)		(125	)		(105	)		(93	)
Recoveries
Commercial loans and leases		2			4			2			3			4
Direct retail loans		3			3			3			3			3
Sales finance loans		2			2			2			2			2
Revolving credit loans		3			3			3			3			3
Specialized lending		5			4			4			4			5
Total recoveries		15			16			14			15			17
Net charge-offs		(170	)		(125	)		(111	)		(90	)		(76	)
Ending balance	$	1,273		$	1,113		$	1,015		$	941		$	926
Allowance For Credit Losses
Allowance for loan and lease losses	$	1,257		$	1,097		$	1,004		$	934		$	920
Reserve for unfunded lending commitments		16			16			11			7			6
Total	$	1,273		$	1,113		$	1,015		$	941		$	926
Nonperforming Assets
Nonaccrual loans and leases:
Commercial loans and leases	$	621		$	443		$	273		$	237		$	178
Direct retail loans		65			60			43			56			43
Sales finance loans		4			5			5			4			4
Mortgage loans		250			185			119			74			63
Specialized lending		76			67			62			48			36
Total nonaccrual loans and leases		1,016			760			502			419			324
Foreclosed real estate		232			178			143			82			61
Other foreclosed property		53			51			51			46			38
Nonperforming assets	$	1,301		$	989		$	696		$	547		$	423
Loans 90 days or more past due
and still accruing (1):
Commercial loans and leases	$	42		$	52		$	40		$	21		$	18
Direct retail loans		72			59			58			18			17
Sales finance loans		17			15			17			14			12
Revolving credit loans		15			16			15			7			6
Mortgage loans		126			106			85			76			48
Specialized lending		10			10			8			13			7
Total loans 90 days or more past due
and still accruing		282			258			223			149			108
Loans 90 days or more past due and still accruing
as a percentage of total loans and leases		.29	%		.27	%		.24	%		.17	%		.12	%
Asset Quality Ratios
Nonaccrual and restructured loans and leases
as a percentage of total loans and leases		1.06	%		.81	%		.55	%		.47	%		.37	%
Nonperforming assets as a percentage of:
Total assets		.95			.73			.52			.42			.33
Loans and leases plus
foreclosed property		1.36			1.05			.76			.61			.48
Net charge-offs as a percentage of
average loans and leases		.72			.54			.48			.40			.35
Net charge-offs excluding specialized
lending as a percentage of average
loans and leases (2)		.53			.32			.28			.23			.20
Allowance for loan and lease losses as
a percentage of loans and leases		1.31			1.17			1.10			1.04			1.04
Allowance for loan and lease losses as
a percentage of loans and leases
held for investment		1.33			1.19			1.10			1.05			1.05
Ratio of allowance for loan and lease losses to:
Net charge-offs		1.84	x		2.18	x		2.29	x		2.61	x		3.04	x
Nonaccrual and restructured loans and leases		1.24			1.44			2.00			2.23			2.83

NOTES:	All items referring to loans and leases include loans held for sale and are net of unearned income. Applicable ratios are annualized.
	(1)  Excludes mortgage loans guaranteed by GNMA that BB&T does not have the obligation to repurchase.
	(2)  Excludes net charge-offs and average loans from BB&T's specialized lending subsidiaries.

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

		As of / For the Six Months Ended						Increase (Decrease)
(Dollars in millions)		6/30/08			6/30/07			$			%
Allowance For Credit Losses
Beginning balance	$	1,015		$	888		$	127			14.3	%
Allowance for acquired (sold) loans, net		-			16			(16	)		NM
Provision for credit losses		553			159			394			247.8
Charge-offs
Commercial loans and leases		(66	)		(21	)		(45	)		214.3
Direct retail loans		(66	)		(34	)		(32	)		94.1
Sales finance loans		(26	)		(12	)		(14	)		116.7
Revolving credit loans		(36	)		(24	)		(12	)		50.0
Mortgage loans		(18	)		(3	)		(15	)		500.0
Specialized lending		(114	)		(81	)		(33	)		40.7
Total charge-offs		(326	)		(175	)		(151	)		86.3
Recoveries
Commercial loans and leases		6			12			(6	)		(50.0	)
Direct retail loans		6			7			(1	)		(14.3	)
Sales finance loans		4			4			-			-
Revolving credit loans		6			6			-			-
Specialized lending		9			9			-			-
Total recoveries		31			38			(7	)		(18.4	)
Net charge-offs		(295	)		(137	)		(158	)		115.3
Ending balance	$	1,273		$	926		$	347			37.5	%
Allowance For Credit Losses
Allowance for loan and lease losses	$	1,257		$	920		$	337			36.6	%
Reserve for unfunded lending commitments		16			6			10			166.7
Total	$	1,273		$	926		$	347			37.5	%
Asset Quality Ratios
Net charge-offs as a percentage of
average loans and leases		.63	%		.32	%
Net charge-offs excluding specialized
lending as a percentage of average
loans and leases (1)		.43			.16
Ratio of allowance for loan and lease losses to
net charge-offs		2.12	x		3.33	x
					Percentage Increase (Decrease)
					QTD		Annualized Link QTD				YTD
				2Q08 vs. 2Q07			2Q08 vs. 1Q08			2008 vs. 2007
PERCENTAGE CHANGES IN SELECTED BALANCES ADJUSTED FOR
PURCHASE ACQUISITIONS (2)
Average Balances
Commercial loans and leases (3)					12.9	%		16.3	%		11.2	%
Direct retail loans					0.7			(1.4	)		1.3
Sales finance loans					6.3			10.5			5.7
Revolving credit loans					14.9			6.5			15.2
Mortgage loans					8.9			7.1			9.6
Specialized lending					3.8			10.8			5.4
Total loans and leases (3)					9.0			10.6			8.4
Noninterest-bearing deposits					(2.5	)		13.0			(2.9	)
Interest checking					1.6			46.3			0.4
Other client deposits					2.0			(2.3	)		2.7
Client certificates of deposit					2.6			(4.7	)		4.3
Total client deposits					1.4			0.8			2.2
Other interest-bearing deposits					52.4			(2.2	)		27.1
Total deposits					5.3	%		0.5	%		4.5	%
PERCENTAGE CHANGES IN SELECTED INCOME STATEMENT ITEMS BASED ON OPERATING EARNINGS
ADJUSTED FOR PURCHASE ACQUISITIONS AND THE IMPLEMENTATION OF FAIR VALUE ACCOUNTING (2)(5)
Net interest income - taxable equivalent					9.9	%		21.8	%		7.8	%
Noninterest income
Insurance income					(3.9	)		22.5			(0.4	)
Service charges on deposits					13.9			47.0			11.6
Other nondeposit fees and commissions					8.6			34.6			9.9
Investment banking and brokerage fees and commissions					(1.1	)		9.4			1.8
Trust and investment advisory revenues					(5.0	)		(20.1	)		(2.5	)
Mortgage banking income (4) (5)					(4.3	)		187.7			(17.8	)
Securities gains (losses), net					NM			NM			NM
Other income (5)					(29.7	)		NM			(48.0	)
Total noninterest income (4) (5)					0.9			25.8			2.9
Noninterest expense
Personnel expense (5)					(1.9	)		10.4			(1.8	)
Occupancy and equipment expense					3.3			6.5			4.2
Other noninterest expense					12.1			38.9			11.2
Total noninterest expense (5)					2.7	%		18.3	%		2.6	%

NOTES:	All items referring to loans and leases include loans held for sale and are net of unearned income. Applicable ratios are annualized.
	(1) Excludes net charge-offs and average loans from BB&T's specialized lending subsidiaries.
	(2) Adjusted to exclude estimated growth that resulted from the timing of acquisitions during 2008 and 2007.
	(3) Adjusted for the sale of leveraged lease investments.
	(4) Excludes the net impact of valuation adjustments for mortgage servicing rights and gains or losses on mortgage servicing rights-related derivatives.
	(5) Adjusted for the impact of the implementation of fair value accounting standards on January 1, 2008.
	NM - not meaningful.

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

		As of / For the Quarter Ended
(Dollars in millions)		6/30/08			3/31/08			12/31/07			9/30/07			6/30/07
SELECTED MORTGAGE BANKING INFORMATION
Residential Mortgage Servicing Rights (1)	$	611		$	406		$	472		$	533		$	577
Income Statement Impact of Mortgage Servicing
Rights Valuation:
MSRs fair value increase (decrease)	$	152		$	(84	)	$	(85	)	$	(54	)	$	72
MSRs derivative hedge (losses) gains		(158	)		82			80			60			(73	)
Net	$	(6	)	$	(2	)	$	(5	)	$	6		$	(1	)
Residential Mortgage Loan Originations	$	4,721		$	4,393		$	3,240		$	3,225		$	3,014
Residential Mortgage Servicing Portfolio:
Loans serviced for others	$	36,810		$	33,977		$	32,762		$	31,081		$	30,077
Bank owned loans serviced		18,755			19,155			18,191			18,059			17,611
Total servicing portfolio		55,565			53,132			50,953			49,140			47,688
Weighted Average Coupon Rate		5.98	%		6.00	%		6.01	%		5.98	%		5.95	%
Weighted Average Servicing Fee		.365			.363			.363			.359			.357
		For the Quarter Ended
(Dollars in millions, except per share data)		6/30/08			3/31/08			12/31/07			9/30/07			6/30/07
RECONCILIATION TABLE
Net income	$	428		$	428		$	411		$	444		$	458
Merger-related and restructuring items, net of tax		1			3			2			4			3
Other, net of tax (4)		(52	)		(30	)		2			-			-
Operating earnings		377			401			415			448			461
Amortization of intangibles, net of tax		15			17			16			17			16
Amortization of mark-to-market adjustments, net of tax		-			-			1			1			-
Cash basis operating earnings		392			418			432			466			477
Return on average assets		1.27	%		1.29	%		1.24	%		1.37	%		1.47	%
Effect of merger-related and restructuring items, net of tax		-			.01			.01			.01			.01
Effect of other, net of tax (4)		(.15	)		(.09	)		.01			-			-
Operating return on average assets		1.12			1.21			1.26			1.38			1.48
Effect of amortization of intangibles, net of tax (2)		.10			.11			.11			.12			.13
Effect of amortization of mark-to-market adjustments,
net of tax		-			-			-			-			-
Cash basis operating return on average
tangible assets		1.22			1.32			1.37			1.50			1.61
Return on average equity		13.27	%		13.30	%		12.89	%		14.24	%		15.18	%
Effect of merger-related and restructuring items, net of tax		.02			.09			.05			.14			.10
Effect of other, net of tax (4)		(1.60	)		(.92	)		.06			-			-
Operating return on average equity		11.69			12.47			13.00			14.38			15.28
Effect of amortization of intangibles, net of tax (2)		9.75			10.34			10.99			12.43			13.20
Effect of amortization of mark-to-market adjustments,
net of tax		-			-			.04			.05			-
Cash basis operating return on average
tangible equity		21.44			22.81			24.03			26.86			28.48
Efficiency ratio (taxable equivalent) (3)		49.4	%		52.4	%		53.8	%		53.3	%		53.5	%
Effect of merger-related and restructuring items		(.1	)		(.2	)		(.2	)		(.4	)		(.3	)
Effect of other (4)		3.2			1.8			(.8	)		-			-
Operating efficiency ratio (3)		52.5			54.0			52.8			52.9			53.2
Effect of amortization of intangibles		(1.3	)		(1.6	)		(1.5	)		(1.6	)		(1.5	)
Effect of amortization of mark-to-market adjustments		-			-			-			-			-
Cash basis operating efficiency ratio (3)		51.2			52.4			51.3			51.3			51.7
Fee income ratio (3)		43.0	%		41.4	%		41.7	%		40.1	%		42.6	%
Effect of other (4)		(1.4	)		(1.2	)		-			-			-
Operating fee income ratio (3)		41.6			40.2			41.7			40.1			42.6
Basic earnings per share	$	.78		$	.78		$	.75		$	.81		$	.84
Effect of merger-related and restructuring items, net of tax		-			-			.01			-			-
Effect of other, net of tax (4)		(.09	)		(.05	)		-			-			-
Operating basic earnings per share		.69			.73			.76			.81			.84
Diluted earnings per share	$	.78		$	.78		$	.75		$	.80		$	.83
Effect of merger-related and restructuring items, net of tax		-			-			-			.01			-
Effect of other, net of tax (4)		(.09	)		(.05	)		-			-			-
Operating diluted earnings per share		.69			.73			.75			.81			.83
Effect of amortization of intangibles, net of tax		.02			.03			.03			.03			.03
Effect of amortization of mark-to-market adjustments,
net of tax		-			-			-			-			-
Cash basis operating diluted earnings per share		.71			.76			.78			.84			.86

NOTES:	Applicable ratios are annualized.
	(1) Balances exclude commercial mortgage servicing rights totaling $91 million, $90 million, $88 million, $34 million and $32 million as of June 30, 2008, March 31, 2008, December 31, 2007,
	September 30, 2007 and June 30, 2007, respectively.
	(2) Reflects the effect of excluding average intangible assets from average assets and average equity, net of deferred taxes, to calculate cash basis ratios.
	(3) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage
	servicing rights-related derivatives. Operating and cash basis ratios also exclude merger-related and restructuring charges or credits and nonrecurring items, where applicable.
	(4) The second quarter of 2008 reflects a gain from the sale of Visa, Inc. shares and a gain from the early extinguishment of certain FHLB advances collectively totaling $52 million, net of tax.
	The first quarter of 2008 reflects a gain from the IPO and the reversal of a reserve charge relating to the Visa, Inc settlement totaling $30 million, net of tax. The fourth quarter of 2007
	reflects a reserve charge relating to the Visa, Inc settlement totaling $9 million, net of tax, and a credit of $7 million to the provision for income taxes related to leveraged leases.

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

		For the Six Months Ended
(Dollars in millions, except per share data)		6/30/08			6/30/07
RECONCILIATION TABLE
Net income	$	856		$	879
Merger-related and restructuring items, net of tax		4			7
Other, net of tax (3)		(82	)		-
Operating earnings		778			886
Amortization of intangibles, net of tax		32			32
Amortization of mark-to-market adjustments, net of tax		-			-
Cash basis operating earnings		810			918
Return on average assets		1.28	%		1.44	%
Effect of merger-related and restructuring items, net of tax		-			.01
Effect of other, net of tax (3)		(.12	)		-
Operating return on average assets		1.16			1.45
Effect of amortization of intangibles, net of tax (1)		.11			.13
Effect of amortization of mark-to-market adjustments, net of tax		-			-
Cash basis operating return on average tangible assets		1.27			1.58
Return on average equity		13.29	%		15.00	%
Effect of merger-related and restructuring items, net of tax		.05			.12
Effect of other, net of tax (3)		(1.26	)		-
Operating return on average equity		12.08			15.12
Effect of amortization of intangibles, net of tax (1)		10.04			13.23
Effect of amortization of mark-to-market adjustments, net of tax		-			-
Cash basis operating return on average tangible equity		22.12			28.35
Efficiency ratio (taxable equivalent) (2)		50.8	%		53.8	%
Effect of merger-related and restructuring items		(.1	)		(.4	)
Effect of other (3)		2.5			-
Operating efficiency ratio (2)		53.2			53.4
Effect of amortization of intangibles		(1.5	)		(1.5	)
Effect of amortization of mark-to-market adjustments		-			-
Cash basis operating efficiency ratio (2)		51.7			51.9
Fee income ratio (2)		42.2	%		41.6	%
Effect of other (3)		(1.3	)		-
Operating fee income ratio (2)		40.9			41.6
Basic earnings per share	$	1.57		$	1.61
Effect of merger-related and restructuring items, net of tax		-			.02
Effect of other, net of tax (3)		(.15	)		-
Operating basic earnings per share		1.42			1.63
Diluted earnings per share	$	1.56		$	1.60
Effect of merger-related and restructuring items, net of tax		.01			.01
Effect of other, net of tax (3)		(.15	)		-
Operating diluted earnings per share		1.42			1.61
Effect of amortization of intangibles, net of tax		.06			.06
Effect of amortization of mark-to-market adjustments, net of tax		-			-
Cash basis operating diluted earnings per share		1.48			1.67

NOTES:	Applicable ratios are annualized.
	(1) Reflects the effect of excluding average intangible assets from average assets and average equity, net of deferred taxes, to calculate cash basis ratios.
	(2) Excludes securities gains (losses), foreclosed property expense, increases or decreases in the valuation of mortgage servicing rights, and gains or losses on mortgage
	servicing rights-related derivatives. Operating and cash basis ratios also exclude merger-related and restructuring charges or credits and nonrecurring items, where applicable.
	(3) 2008 reflects gains from the initial IPO and sale of Visa, Inc. shares, a reversal of a reserve charge relating to the Visa, Inc settlement and gains from the early extinguishment of certain
	FHLB advances collectively totaling $82 million, net of tax.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
CREDIT SUPPLEMENT PAGE 1	Investor Relations	FAX (336) 733-3132

(Dollars in millions, except average loan size)
SUPPLEMENTAL RESIDENTIAL MORTGAGE PORTFOLIO INFORMATION
	As of / For the Period Ended June 30, 2008
							Construction/
Mortgage Loans		Prime			ALT-A		Permanent			Subprime (1)
Total loans outstanding	$	12,069		$	3,291	$	1,704		$	608
Average loan size (in thousands)		192			329		312			69
Average credit score		720			734		734			607
��    Percentage of total loans		12.6	%		3.4	%	1.8	%		.6	%
Percentage that are first mortgages		99.7			99.7		98.8			82.4
Average loan to value		73.9			67.1		77.1			81.2
Nonaccrual loans and leases as a percentage of category		1.06			1.69		3.10			3.87
Gross charge-offs as a percentage of category		.11			.29		.53			1.46
	As of / For the Period Ended June 30, 2008
										Gross Charge-
							Nonaccrual as a			Offs as a
		Total Mortgages			Percentage of		Percentage of			Percentage of
Residential Mortgage Loans by State		Outstanding (1)			Total		Outstandings			Outstandings
North Carolina	$	4,327			24.5	%	.46	%		.05	%
Virginia		3,591			20.3		1.01			.29
Florida		2,644			14.9		4.31			.39
Maryland		1,886			10.7		1.22			.25
South Carolina		1,625			9.2		.95			.05
Georgia		1,612			9.1		2.11			.44
West Virginia		386			2.2		.78			.18
Kentucky		357			2.0		.46			.30
Tennessee		260			1.5		.50			.01
Washington, D.C.		194			1.1		1.18			-
Other		790			4.5		1.08			.47
Total	$	17,672			100.0	%	1.47	%		.23	%
(Dollars in millions, except average loan size)
SUPPLEMENTAL HOME EQUITY PORTFOLIO INFORMATION (2)
							As of / For the Period Ended
							June 30, 2008
							Home Equity			Home Equity
Home Equity Loans & Lines							Loans			Lines
Total loans outstanding						$	9,497		$	5,017
Average loan size (in thousands) (3)							49			34
Average credit score							725			759
Percentage of total loans							9.9	%		5.2	%
Percentage that are first mortgages							77.1			23.4
Average loan to value							67.4			67.6
Nonaccrual loans and leases as a percentage of category							.51			.27
Gross charge-offs as a percentage of category							.50			.86
		As of / For the Period Ended June 30, 2008
		Total Home								Gross Charge-
		Equity Loans and					Nonaccrual as a			Offs as a
		Lines			Percentage of		Percentage of			Percentage of
Home Equity Loans and Lines by State		Outstanding			Total		Outstandings			Outstandings
North Carolina	$	5,073			35.0	%	.39	%		.24	%
Virginia		3,238			22.3		.20			.84
South Carolina		1,425			9.8		.70			.37
Georgia		1,159			8.0		.41			1.08
West Virginia		882			6.1		.36			.24
Maryland		854			5.9		.32			.52
Florida		722			5.0		1.09			2.89
Kentucky		609			4.2		.48			.24
Tennessee		442			3.0		.72			.26
Washington, D.C.		89			.6		.94			4.03
Other		21			.1		.32			.31
Total	$	14,514			100.0	%	.42	%		.63	%

NOTES:	(1) Includes $368 million in loans originated by Lendmark Financial Services, which are disclosed as a part of the specialized lending category.
	(2) Home equity portfolio is a component of direct retail loans and originated through the BB&T branching network.
	(3) Home equity lines without an outstanding balance are excluded from this calculation.

QUARTERLY PERFORMANCE SUMMARY	Tamera L. Gjesdal
BB&T Corporation (NYSE:BBT)	Senior Vice President	(336) 733-3058
CREDIT SUPPLEMENT PAGE 2	Investor Relations	FAX (336) 733-3132

(Dollars in millions, except average loan and average client size)
SUPPLEMENTAL COMMERCIAL REAL ESTATE LOAN PORTFOLIO INFORMATION (1)
			As of / For the Period Ended June 30, 2008
Residential Acquisition, Development, and Construction				Builder /			Land / Land			Condos /
Loans (ADC)				Construction			Development			Townhomes			Total ADC
Total loans outstanding			$	3,313		$	4,640		$	658		$	8,611
Average loan size (in thousands)				290			592			1,426			436
Average client size (in thousands)				877			1,366			3,382			1,163
Percentage of total loans				3.5	%		4.8	%		.7	%		9.0	%
Nonaccrual loans and leases as a percentage of category				4.14			3.97			5.05			4.12
Gross charge-offs as a percentage of category				.47			.71			2.35			.74
	As of / For the Period Ended June 30, 2008
												Gross Charge-
										Nonaccrual as a		Offs as a
Residential Acquisition, Development, and Construction	Total			Percentage of		Nonaccrual Loans				Percentage of		Percentage of
Loans (ADC) by State of Origination	Outstandings			Total		and Leases				Outstandings		Outstandings
North Carolina	$	2,956		34.3	%	$	54			1.83	%		.03	%
Georgia		1,642		19.1			120			7.29			1.77
Virginia		1,369		15.9			56			4.08			.82
Florida		911		10.5			77			8.47			.88
South Carolina		668		7.8			6			.92			.21
Tennessee		274		3.2			8			3.03			1.20
Washington, D.C.		266		3.1			2			.73			3.01
Kentucky		221		2.5			15			6.63			.07
West Virginia		152		1.8			6			3.56			1.35
Maryland		152		1.8			11			7.42			-
Total	$	8,611		100.0	%	$	355			4.12	%		.74	%
			As of / For the Period Ended June 30, 2008
									Permanent			Total Other
				Commercial		Commercial Land/			Income Producing			Commercial Real
Other Commercial Real Estate Loans (2)				Construction		Development			Properties			Estate
Total loans outstanding			$	2,224		$	2,623		$	5,722		$	10,569
Average loan size (in thousands)				1,099			747			332			467
Average client size (in thousands)				1,464			906			486			656
Percentage of total loans				2.3	%		2.7	%		6.0	%		11.0	%
Nonaccrual loans and leases as a percentage of category				.55			1.34			.62			.78
Gross charge-offs as a percentage of category				.02			.09			.04			.05
	As of / For the Period Ended June 30, 2008
												Gross Charge-
										Nonaccrual as a		Offs as a
	Total			Percentage of		Nonaccrual Loans				Percentage of		Percentage of
Other Commercial Real Estate Loans by State of Origination	Outstandings			Total		and Leases				Outstandings		Outstandings
North Carolina	$	3,215		30.4	%	$	13			.39	%		.07	%
Georgia		1,852		17.5			17			.90			.08
Virginia		1,609		15.2			12			.75			-
South Carolina		861		8.2			7			.85			.02
Florida		801		7.6			18			2.20			-
Washington, D.C.		507		4.8			-			-			.09
Maryland		462		4.4			-			.08			-
West Virginia		419		4.0			2			.55			.04
Kentucky		417		3.9			4			.87			.06
Tennessee		316		3.0			10			3.21			.04
Other		110		1.0			-			-			-
Total	$	10,569		100.0	%	$	83			.78	%		.05	%

NOTES:	(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.
	(2) Other CRE loans consist primarily of non-residential income producing CRE loans. C&I loans secured by real property are excluded.