Truist Financial (TFC) 10-K 26 Feb 10 2009 FY Annual report Financial data

Statement Of Financial Position

Statement Of Financial Position Unclassified - Deposit Based Operations (USD $)
In Millions, except Share data in Thousands	Dec. 31, 2009	Dec. 31, 2008
Assets
Cash and due from banks	$1,584	$1,639
Interest-bearing deposits with banks	667	751
Federal funds sold and securities purchased under resale agreements or similar arrangements	398	350
Segregated cash due from banks	270	379
Trading securities at fair value	636	376
Securities available for sale at fair value ($1,201 covered by FDIC loss share at December 31, 2009)	33,909	32,843
Loans held for sale ($2,551 and $1,396 at fair value at December 31, 2009 and December 31, 2008, respectively)	2,551	1,424
Loans and leases ($8,019 covered by FDIC loss share at December 31, 2009)	103,656	97,245
Allowance for loan and lease losses	(2,600)	(1,574)
Loans and leases, net of allowance for loan and lease losses	101,056	95,671
FDIC loss share receivable	3,062	0
Premises and equipment	1,583	1,580
Goodwill	6,053	5,483
Core deposit and other intangible assets	640	542
Residential mortgage servicing rights at fair value	832	370
Other assets ($215 of foreclosed property and other assets covered by FDIC loss share at December 31, 2009)	12,523	10,607
Total assets	165,764	152,015
Deposits:
Noninterest-bearing deposits	18,945	13,649
Interest checking	3,420	2,576
Other client deposits	52,097	39,413
Client certificates of deposit	32,298	27,937
Other interest-bearing deposits	8,205	15,038
Total deposits	114,965	98,613
Federal funds purchased, securities sold under repurchase agreements and short-term borrowed funds	8,106	10,788
Long-term debt	21,376	18,032
Accounts payable and other liabilities	5,076	8,501
Total liabilities	149,523	135,934
Shareholders' equity:
Preferred stock, liquidation preference of $1,000,000 per share	0	3,082
Common stock, $5 par	3,449	2,796
Additional paid-in capital	5,620	3,510
Retained earnings	7,539	7,381
Accumulated other comprehensive loss, net of deferred income taxes of $(257) at December 31, 2009 and $(438) at December 31, 2008	(417)	(732)
Noncontrolling interest	50	44
Total shareholders' equity	16,241	16,081
Total liabilities and shareholders' equity	$165,764	$152,015
Common shares outstanding	689,750	559,248
Common shares authorized	1,000,000	1,000,000
Preferred shares outstanding	0	3
Preferred shares authorized	5,000	5,000

1_Statement Of Financial Positi

Statement Of Financial Position Unclassified - Deposit Based Operations (Parenthetical) (USD $)
In Millions, except Per Share data	Dec. 31, 2009	Dec. 31, 2008
Securities available for sale at fair value, covered by FDIC loss share	$1,201	$0
Loans held for sale, fair value	2,551	1,396
Loans and leases, covered by FDIC loss share	8,019	0
Other assets, foreclosed property and other assets covered by FDIC loss share	215	0
Preferred stock, liquidation preference	$1,000,000	$1,000,000
Common stock, par	$5	$5
Accumulated other comprehensive loss, deferred income taxes	($257)	($438)

Statement Of Income Interest Ba

Statement Of Income Interest Based Revenue (USD $)
In Millions, except Share data in Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Interest Income
Interest and fees on loans and leases	$5,547	$6,003	$6,713
Interest and dividends on securities	1,330	1,176	1,130
Interest on other earning assets	7	28	51
Total interest income	6,884	7,207	7,894
Interest Expense
Interest on deposits	1,271	1,891	2,620
Interest on federal funds purchased, securities sold under repurchase agreements and short-term borrowed funds	58	235	409
Interest on long-term debt	711	843	985
Total interest expense	2,040	2,969	4,014
Net Interest Income	4,844	4,238	3,880
Provision for credit losses	2,811	1,445	448
Net Interest Income After Provision for Credit Losses	2,033	2,793	3,432
Noninterest Income
Insurance income	1,047	928	853
Service charges on deposits	690	673	611
Mortgage banking income	658	275	115
Investment banking and brokerage fees and commissions	346	354	343
Other nondeposit fees and commissions	229	189	184
Checkcard fees	227	201	180
Bankcard fees and merchant discounts	156	151	139
Trust and investment advisory revenues	139	147	162
Income from bank-owned life insurance	97	84	101
Other income	146	88	89
Securities gains (losses), net
Realized gains (losses), net	240	211	(3)
Other-than-temporary impairments	(172)	(104)	0
Less non-credit portion recognized in other comprehensive income	131	0	0
Total securities gains (losses), net	199	107	(3)
Total noninterest income	3,934	3,197	2,774
Noninterest Expense
Personnel expense	2,517	2,201	2,094
Occupancy and equipment expense	579	509	477
Foreclosed property expense	356	79	31
Professional services	262	204	139
Regulatory charges	230	30	14
Loan processing expenses	135	125	111
Amortization of intangibles	114	100	104
Merger-related and restructuring charges, net	38	15	21
Other expenses	700	648	633
Total noninterest expense	4,931	3,911	3,624
Earnings
Income before income taxes	1,036	2,079	2,582
Provision for income taxes	159	550	836
Net income	877	1,529	1,746
Noncontrolling interest	24	10	12
Dividends and accretion on preferred stock	124	21	0
Net income available to common shareholders	$729	$1,498	$1,734
Earnings Per Common Share
Basic	1.16	2.73	3.17
Diluted	1.15	2.71	3.14
Cash dividends declared	0.92	1.87	1.8
Weighted Average Shares Outstanding
Basic	629,583	548,847	547,184
Diluted	635,619	552,498	551,755

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions, except Share data in Thousands	Common Stock		Preferred Stock	Additional Paid-In Capital		Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest	Total
Beginning Balance at Dec. 31, 2006	$2,707		$0	$2,801		$6,596	($359)	$81	$11,826
Beginning Balance (in shares) at Dec. 31, 2006	541,475
Comprehensive income (loss):
Net income						1,734		12	1,746
Net change in other comprehensive income (loss)							255		255
Total comprehensive income (loss) (Note 12)						1,734	255	12	2,001
Stock issued:
In purchase acquisitions (in shares)	9,083	[1]
In purchase acquisitions	46	[1]		365	[1]				411	[1]
In connection with stock option exercises and other employee benefits, net of cancellations (in shares)	2,397
In connection with stock option exercises and other employee benefits, net of cancellations	12			52					64
Redemption of common stock (in shares)	(7,000)
Redemption of common stock	(35)			(219)					(254)
Cash dividends declared on common stock, $.92 in 2009, $1.87 in 2008, and $1.80 in 2007 per share						(986)			(986)
Cumulative effect of adoption of accounting principles						(425)			(425)
Equity-based compensation expense				70					70
Other, net				18				(61)	(43)
Ending Balance (in shares) at Dec. 31, 2007	545,955
Ending Balance at Dec. 31, 2007	2,730		0	3,087		6,919	(104)	32	12,664
Comprehensive income (loss):
Net income						1,519		10	1,529
Net change in other comprehensive income (loss)							(628)		(628)
Total comprehensive income (loss) (Note 12)						1,519	(628)	10	901
Stock issued:
In purchase acquisitions (in shares)	7,201
In purchase acquisitions	36			161					197
In connection with stock option exercises and other employee benefits, net of cancellations (in shares)	2,219
In connection with stock option exercises and other employee benefits, net of cancellations	11			52					63
In connection with dividend reinvestment plan (in shares)	1,415
In connection with dividend reinvestment plan	7			37					44
In connection with private placement to BB&T pension plan (in shares)	2,458
In connection with private placement to BB&T pension plan	12			41					53
In connection with Capital Purchase Program			3,082						3,082
Warrants issued in connection with Capital Purchase Program				52					52
Cash dividends declared on common stock, $.92 in 2009, $1.87 in 2008, and $1.80 in 2007 per share						(1,028)			(1,028)
Cash dividends accrued on preferred stock						(21)			(21)
Cumulative effect of adoption of accounting principles						(8)			(8)
Equity-based compensation expense				75					75
Other, net				5				2	7
Ending Balance (in shares) at Dec. 31, 2008	559,248
Ending Balance at Dec. 31, 2008	2,796		3,082	3,510		7,381	(732)	44	16,081
Comprehensive income (loss):
Net income						853		24	877
Net change in other comprehensive income (loss)							315		315
Total comprehensive income (loss) (Note 12)						853	315	24	1,192
Stock issued:
In purchase acquisitions (in shares)	1,628
In purchase acquisitions	8			32					40
In connection with stock option exercises and other employee benefits, net of cancellations (in shares)	463
In connection with stock option exercises and other employee benefits, net of cancellations	2			4					6
In connection with dividend reinvestment plan (in shares)	2,688
In connection with dividend reinvestment plan	14			44					58
In connection with 401(k) plan (in shares)	1,011
In connection with 401(k) plan	5			20					25
In common stock offerings (in shares)	124,712
In common stock offerings	624			2,014					2,638
Redemption of preferred stock and warrant			(3,134)	(67)					(3,201)
Cash dividends declared on common stock, $.92 in 2009, $1.87 in 2008, and $1.80 in 2007 per share						(570)			(570)
Cash dividends accrued on preferred stock						(73)			(73)
Equity-based compensation expense				62					62
Other, net			52	1		(52)		(18)	(17)
Ending Balance (in shares) at Dec. 31, 2009	689,750
Ending Balance at Dec. 31, 2009	$3,449		$0	$5,620		$7,539	($417)	$50	$16,241
[1]Additional paid in capital includes the value of replacement stock options.

2_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash dividends declared on common stock, per share	0.92	1.87	1.8

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect Deposit Based Operations (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash Flows From Operating Activities:
Net income	$877	$1,529	$1,746
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Provision for credit losses	2,811	1,445	448
Depreciation	225	198	179
Amortization of intangibles	114	100	104
Equity-based compensation	62	75	70
Discount accretion and premium amortization on long-term debt, net	57	94	121
(Gain) loss on sales of securities, net	(199)	(107)	3
Net (increase) decrease in trading account securities	(260)	633	1,138
Net increase in loans held for sale	(31)	(591)	(383)
Net increase in other assets	(1,058)	(2,264)	(1,505)
Net (decrease) increase in accounts payable and other liabilities	(3,390)	4,233	(824)
Decrease (increase) in segregated cash due from banks	109	(171)	(55)
Other, net	190	179	70
Net cash (used in) provided by operating activities	(493)	5,353	1,112
Cash Flows From Investing Activities:
Proceeds from sales of securities available for sale	17,074	21,044	2,500
Proceeds from maturities, calls and paydowns of securities available for sale	7,918	4,539	5,604
Purchases of securities available for sale	(22,102)	(36,348)	(8,987)
Originations and purchases of loans and leases, net of principal collected	(392)	(7,894)	(6,286)
Net cash acquired (paid) in business combinations	4,475	311	(141)
Purchases of premises and equipment	(174)	(219)	(256)
Proceeds from sales of foreclosed property or other real estate held for sale	404	143	87
Other, net	30	101	17
Net cash provided by (used in) investing activities	7,233	(18,323)	(7,462)
Cash Flows From Financing Activities:
Net (decrease) increase in deposits	(2,901)	11,325	4,824
Net (decrease) increase in federal funds purchased, securities sold under repurchase agreements and short-term borrowed funds	(2,756)	151	1,004
Proceeds from long-term debt	3,865	5,702	5,831
Repayment of long-term debt	(3,728)	(6,867)	(3,709)
Net proceeds from common stock issued	2,727	160	64
Net proceeds from preferred stock issued	0	3,134	0
Redemption of common stock	0	0	(254)
Retirement of preferred stock and warrant	(3,201)	0	0
Cash dividends paid on common stock	(727)	(1,019)	(962)
Cash dividends paid on preferred stock	(93)	0	0
Other, net	(17)	7	(43)
Net cash (used in) provided by financing activities	(6,831)	12,593	6,755
Net (Decrease) Increase in Cash and Cash Equivalents	(91)	(377)	405
Cash and Cash Equivalents at Beginning of Year	2,740	3,117	2,712
Cash and Cash Equivalents at End of Year	2,649	2,740	3,117
Cash paid during the year for:
Interest	2,126	2,937	3,978
Income taxes	431	730	2,233
Noncash investing and financing activities:
Transfer of loans to foreclosed property	1,551	600	179
Transfer of loans held for sale to loans held for investment	0	0	264
Common stock issued in business combinations	$40	$197	$411

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Summary of Significant Accounting Policies	NOTE 1.Summary of Significant Accounting Policies General BBT Corporation (BBT, the Company or Parent Company) is a financial holding company organized under the laws of North Carolina. BBT conducts operations through its principal bank subsidiary, Branch Banking and Trust Company (Branch Bank), a federally chartered thrift institution, BBT Financial, FSB (BBT FSB) and its nonbank subsidiaries. The accounting and reporting policies of BBT and its subsidiaries are in accordance with accounting principles generally accepted in the United States of America (GAAP). Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. The following is a summary of BBTs more significant accounting policies. Nature of Operations BBT is a financial holding company headquartered in Winston-Salem, North Carolina. BBT conducts its operations primarily through Branch Bank, which has branches in North Carolina, South Carolina, Virginia, Maryland, Georgia, West Virginia, Tennessee, Kentucky, Florida, Alabama, Indiana, Texas and Washington, D.C. Branch Bank provides a wide range of banking services to individuals and businesses, and offers a variety of loans to businesses and consumers. Such loans are made primarily to individuals residing in the market areas described above or to businesses located within BBTs geographic footprint. Branch Bank also markets a wide range of deposit services to individuals and businesses. Branch Bank offers, either directly, or through its subsidiaries, lease financing to businesses and municipal governments; factoring; discount brokerage services, annuities and mutual funds; life insurance, property and casualty insurance, health insurance and commercial general liability insurance on an agency basis and through a wholesale insurance brokerage operation; insurance premium financing; permanent financing arrangements for commercial real estate; loan servicing for third-party investors; direct consumer finance loans to individuals; trust and comprehensive wealth advisory services and association services. BBT FSB and the direct nonbank subsidiaries of BBT provide a variety of financial services including credit card lending, automobile lending, equipment financing, full-service securities brokerage, asset management and capital markets services. Principles of Consolidation The consolidated financial statements of BBT include the accounts of BBT Corporation and those subsidiaries that are majority owned by BBT and over which BBT exercises control. In consolidation, all significant intercompany accounts and transactions are eliminated. The results of operations of companies or assets acquired are included only from the dates of acquisition. All material wholly-owned and majority-owned subsidiaries are consolidated unless GAAP requires otherwise. BBT evaluates variable interests in entities for which voting interests are not an effective means of identifying controlling financial interests. Variable interests are those in which the value of the interest changes with the fair value of the net assets of the entity exclusive of vari

Business Combinations

Business Combinations
	12 Months Ended Dec. 31, 2009 USD / shares
Business Combinations	NOTE 2.Business Combinations Financial Institution Acquisitions Colonial Bank On August14, 2009, Branch Bank entered into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC) to acquire certain assets and assume substantially all of the deposits and certain liabilities of Colonial Bank, an Alabama state-chartered bank headquartered in Montgomery, Alabama (Colonial). Colonial operated 357 locations in Florida, Alabama, Georgia, Texas and Nevada. Excluding the effects of purchase accounting adjustments, Branch Bank assumed approximately $19.2 billion of the deposits of Colonial. Additionally, Branch Bank purchased approximately $14.3 billion in loans, $165 million of other real estate owned (OREO) and $3.7 billion of investment securities. In connection with the acquisition, Branch Bank also entered into loss sharing agreements with the FDIC. Approximately $14.3 billion of acquired loans and OREO and $1.1 billion of the purchased investment securities are covered by loss sharing agreements between the FDIC and Branch Bank. Pursuant to the terms of these loss sharing agreements, the FDICs obligation to reimburse Branch Bank for losses with respect to certain loans, OREO, certain investment securities and other assets (collectively, covered assets), begins with the first dollar of loss incurred. The terms of the loss sharing agreement with respect to certain non-agency mortgage-backed securities totaling $624 million at August14, 2009, provides that Branch Bank will be reimbursed by the FDIC for 95% of any and all losses. All other covered assets are subject to a stated threshold of $5 billion that provides for the FDIC to reimburse Branch Bank for (1)80% of losses incurred up to $5 billion and (2)95% of losses in excess of $5 billion. Gains and recoveries on covered assets will offset losses, or be paid to the FDIC, at the applicable loss share percentage at the time of recovery. The loss sharing agreement applicable to single family residential mortgage loans provides for FDIC loss sharing and Branch Bank reimbursement to the FDIC, in each case as described above, for ten years. The loss sharing agreement applicable to commercial loans and other covered assets provides for FDIC loss sharing for five years and Branch Bank reimbursement to the FDIC for gains and recoveries for a total of eight years, in each case as described above. The loss sharing agreements are subject to certain servicing procedures as specified in the agreements. The expected reimbursements under the loss sharing agreements were recorded as a loss share receivable at their estimated fair value of $3.1 billion on the acquisition date. On October15, 2019, BBT is required to pay the FDIC 55% of the excess, if any, of (i)$1 billion over (ii)the sum of (A)25% of the total net amounts paid to BBT under both of the loss sharing agreements (i.e., BBTs payments received from the FDIC for losses, offset by BBTs payments made to the FDIC for recoveries) plus (B)20% of the deemed total cost to BBT of administering the assets covered under the loss sharing agreements other than shared loss securities. The deemed total

Securities

Securities
	12 Months Ended Dec. 31, 2009 USD / shares
Securities	NOTE 3.Securities The amortized cost and approximate fair values of securities available for sale were as follows: December31, 2009 Amortized Cost Gross Unrealized Fair Value Gains Losses (Dollars in millions) Securities available for sale: U.S. government-sponsored entities (GSE) $ 2,090 $ 5 $ 60 $ 2,035 Mortgage-backed securities issued by GSE 26,649 231 210 26,670 States and political subdivisions 2,176 56 125 2,107 Non-agency mortgage-backed securities 1,339 317 1,022 Equity and other securities 852 22 874 Covered securities 1,166 47 12 1,201 Total securities available for sale $ 34,272 $ 361 $ 724 $ 33,909 December31, 2008 Amortized Cost Gross Unrealized Fair Value Gains Losses (Dollars in millions) Securities available for sale: U.S. government-sponsored entities (GSE) $ 1,320 $ 13 $ $ 1,333 Mortgage-backed securities issued by GSE 27,117 338 25 27,430 States and political subdivisions 2,413 8 344 2,077 Non-agency mortgage-backed securities 1,573 475 1,098 Equity and other securities 937 2 34 905 Total securities available for sale $ 33,360 $ 361 $ 878 $ 32,843 Covered securities include $896 million of non-agency mortgage-backed securities and $305 million of municipal securities acquired as part of the Colonial transaction. All covered securities are covered by one of the FDIC loss share agreements as further discussed in Note 2 to these consolidated financial statements. At December31, 2009 and 2008, securities with carrying value of approximately $20.7 billion and $16.1 billion were pledged to secure municipal deposits, securities sold under agreements to repurchase, other borrowings, and for other purposes as required or permitted by law. BBT had certain investments in marketable debt securities and mortgage-backed securities issued by Fannie Mae and Freddie Mac that exceeded ten percent of shareholders equity at December31, 2009. The Fannie Mae investments had total amortized cost and fair values of $18.1 billion at December31, 2009, while Freddie Mac investments had total amortized cost and fair values of $7.4 billion. At December31, 2009, non-agency mortgage-backed securities primarily consisted of residential mortgage-backed securities. Equity securities include investments in stock issued by the FHLB of Atlanta. At December31, 2009 and 2008, BBT held $656 million and $479 million, respectively, of investments in FHLB stock. The gross realized gains and losses and other than temporary impairments recognized in net income during 2009, 2008 and 2007 are reflected in the following table: As of December 31 2009 2008 2007 Gross gains $ 241 $ 244 $ 22 Gross losses (1 ) (

Loans and Leases

Loans and Leases
	12 Months Ended Dec. 31, 2009 USD / shares
Loans and Leases	NOTE 4.Loans and Leases The following table provides a breakdown of BBTs loan portfolio as of December31, 2009 and 2008: December31, 2009 2008 (Dollars in millions) Loans and leases, net of unearned income: Commercial loans $ 49,445 $ 49,727 Leveraged leases 375 753 Total commercial loans and leases 49,820 50,480 Sales finance loans 6,290 6,354 Revolving credit loans 2,016 1,777 Direct retail loans 14,283 15,454 Residential mortgage loans 15,435 17,091 Specialized lending Loans 6,953 5,527 Leases 717 562 Total specialized lending 7,670 6,089 Other acquired loans 123 Total loans and leases held for investment (excluding covered loans) 95,637 97,245 Covered loans 8,019 Total loans and leases held for investment (1) 103,656 97,245 Loans held for sale 2,551 1,424 Total loans and leases $ 106,207 $ 98,669 (1) Unearned income totaled $580 million and $748 million at December31, 2009 and 2008, respectively. Covered loans represent loans acquired from the FDIC subject to one of the loss sharing agreements. Other acquired loans represent consumer loans acquired from the FDIC that are not subject to one of the loss sharing agreements. BBT evaluated purchased loans for impairment. Purchased loans with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered impaired. The following table reflects the carrying value of all purchased impaired and nonimpaired loans as of December31, 2009: Purchased Impaired Loans Purchased Nonimpaired Loans Total (Dollars in millions) Residential mortgage loans $ 826 $ 806 $ 1,632 Commercial real estate loans 2,732 2,574 5,306 Commercial loans 94 987 1,081 Total covered loans 3,652 4,367 8,019 Other acquired loans 14 109 123 Total $ 3,666 $ 4,476 $ 8,142 Changes in the carrying amount and accretable yield for purchased impaired and nonimpaired loans, excluding loans held for sale, were as follows for the year ended December31, 2009: Purchased Impaired Purchased Nonimpaired Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans (Dollars in millions) Balance at beginning of period $ $ $ $ Additions (1) 997 3,820 1,427 4,885 Accretion (108 ) 108 (126 ) 126 Payments received, net (262 ) (535 ) Balance at end of period $ 889 $ 3,666 $ 1,301 $ 4,476 (1) Represents the fair value of the loans at the date

Allowance for Loan and Lease Lo

Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments
	12 Months Ended Dec. 31, 2009 USD / shares
Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments	NOTE 5.Allowance for Loan and Lease Losses and Reserve for Unfunded Lending Commitments An analysis of the allowance for credit losses for each of the past three years is presented in the following table: For the Years Ended December31, 2009 2008 2007 (Dollars in millions) Beginning Balance $ 1,607 $ 1,015 $ 888 Other changes, net 27 (2 ) 17 Provision for credit losses 2,811 1,445 448 Loans and leases charged-off (1,862 ) (917 ) (405 ) Recoveries of previous charge-offs 89 66 67 Net loans and leases charged-off (1,773 ) (851 ) (338 ) Ending Balance $ 2,672 $ 1,607 $ 1,015 Allowance for loan and lease losses $ 2,600 1,574 1,004 Reserve for unfunded lending commitments 72 33 11 Allowance for credit losses $ 2,672 $ 1,607 $ 1,015 For the Years Ended December31, 2009 2008 2007 (Dollars in millions) Nonaccrual loans and leases (1) $ 2,718 $ 1,413 $ 502 Foreclosed real estate 1,451 538 143 Other foreclosed property 58 79 51 Total foreclosed property 1,509 617 194 Total nonperforming assets (excluding covered assets) (2) $ 4,227 $ 2,030 $ 696 Loans 90 days or more past due and still accruing (3)(4) $ 319 $ 431 $ 223 (1) Covered and other acquired loans are considered to be performing due to the application of the accretion method. Covered loans that are contractually past due are noted in footnote 4 below. (2) Excludes foreclosed real estate totaling $160 million as of December31, 2009 that is covered by FDIC loss sharing agreements. (3) Excludes mortgage loans guaranteed by GNMA that BBT does not have the obligation to repurchase. (4) Excludes loans totaling $1.4 billion past due 90 days or more at December31, 2009 that are covered by FDIC loss sharing agreements. The gross additional interest income that would have been earned if the loans and leases classified as nonaccrual had performed in accordance with the original terms was approximately $115 million, $69 million and $30 million in 2009, 2008 and 2007, respectively.

Premises and Equipment

Premises and Equipment
	12 Months Ended Dec. 31, 2009 USD / shares
Premises and Equipment	NOTE 6.Premises and Equipment A summary of premises and equipment is presented in the accompanying table: December31, 2009 2008 (Dollarsinmillions) Land and land improvements $ 429 $ 420 Buildings and building improvements 1,039 1,008 Furniture and equipment 1,043 1,012 Leasehold improvements 464 410 Construction in progress 17 69 Capitalized leases on premises and equipment 6 3 Total 2,998 2,922 Lessaccumulated depreciation and amortization (1,415 ) (1,342 ) Net premises and equipment $ 1,583 $ 1,580 Useful lives for premises and equipment are as follows: buildings and building improvements40 years; furniture and equipment5 to 10 years; leasehold improvementsestimated useful life or lease term, including certain renewals which were deemed probable at lease inception, whichever is less; and capitalized leases on premises and equipmentestimated useful life or remaining term of tenant lease, whichever is less. Certain properties are pledged to secure mortgage indebtedness totaling $2 million at December31, 2009 and 2008. BBT has noncancelable leases covering certain premises and equipment. Many of the leases have one or more renewal options, generally for periods of two to five years. Total rent expense applicable to operating leases was $210 million, $164 million and $159 million for 2009, 2008 and 2007, respectively. Rental income from owned properties and subleases was $7 million, $7 million and $8 million for 2009, 2008 and 2007, respectively. Future minimum lease payments for operating leases for the five years subsequent to 2009 are $172 million, $153 million, $127 million, $112 million and $96 million. The payments for 2015 and later years total $539 million. Branch Bank did not immediately acquire the real estate, banking facilities, furniture or equipment of Colonial as part of the purchase and assumption agreement. However, Branch Bank has the option to purchase the real estate and furniture and equipment from the FDIC. At December31, 2009, all Colonial banking facilities and equipment were leased from the FDIC on a month-to-month basis.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
Goodwill and Other Intangible Assets	NOTE 7.Goodwill and Other Intangible Assets The changes in the carrying amounts of goodwill attributable to each of BBTs operating segments for the years ended December31, 2009 and 2008 are reflected in the table below. To date, there have been no goodwill impairments recorded by BBT. Goodwill Activity by Operating Segment Banking Network Residential Mortgage Banking Sales Finance Specialized Lending Insurance Services Financial Services All Other Total (Dollars in millions) Balance January1, 2008 $ 4,035 $ 7 $ 93 $ 100 $ 741 $ 192 $ 26 $ 5,194 Acquired goodwill, net 1 246 247 Contingent consideration 48 48 Other adjustments 3 (3 ) (6 ) (6 ) Balance December31, 2008 4,038 7 93 98 1,029 192 26 5,483 Acquired goodwill, net 533 10 29 572 Contingent consideration 2 2 Other adjustments (2 ) 2 (4 ) (4 ) Balance, December31, 2009 $ 4,569 $ 7 $ 93 $ 110 $ 1,056 $ 192 $ 26 $ 6,053 The following table presents the gross carrying amounts and accumulated amortization for BBTs identifiable intangible assets subject to amortization at the dates presented: Identifiable Intangible Assets As of December31, 2009 As of December31, 2008 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (Dollars in millions) Identifiable intangible assets Core deposit intangibles $ 633 $ (375 ) $ 258 $ 457 $ (325 ) $ 132 Other (1) 755 (373 ) 382 719 (309 ) 410 Totals $ 1,388 $ (748 ) $ 640 $ 1,176 $ (634 ) $ 542 (1) Other identifiable intangibles are primarily customer relationship intangibles. During the years ended December31, 2009, 2008 and 2007, BBT incurred $114 million, $100 million and $104 million, respectively, in pretax amortization expenses associated with core deposit intangibles and other intangible assets. At December31, 2009, the weighted-average remaining life of core deposit intangibles and other identifiable intangibles was 9.7 years and 13.3 years, respectively. Estimated amortization expense of identifiable intangible assets for each of the next five years total $125 million, $100 million, $82 million, $66 millionand $53 million.

Loan Servicing

Loan Servicing
	12 Months Ended Dec. 31, 2009 USD / shares
Loan Servicing	NOTE 8.Loan Servicing Residential Mortgage Banking Activities The following table includes a summary of residential mortgage loans managed or securitized and related delinquencies and net charge-offs: YearsEndedDecember31, 2009 2008 (Dollars in millions) Mortgage Loans Managed or Securitized (1) $ 21,637 $ 21,477 Less:Loans Securitized and Transferred to Securities Available for Sale 60 573 Loans Held for Sale 2,524 1,343 Covered Mortgage Loans 1,632 Mortgage Loans Sold with Recourse 1,986 2,470 Mortgage Loans Held for Investment $ 15,435 $ 17,091 Mortgage Loans on Nonaccrual Status $ 767 $ 375 Mortgage Loans 90 Days Past Due and Still Accruing Interest 158 165 Mortgage Loan Net Charge-offs 275 95 (1) Balances exclude loans serviced for others, with no other continuing involvement. The unpaid principal balances of BBTs total residential mortgage servicing portfolio were $73.6 billion, $59.7 billion and $51.0 billion at December31, 2009, 2008 and 2007, respectively. The unpaid principal balances of residential mortgage loans serviced for others consist primarily of agency conforming fixed-rate mortgage loans and totaled $54.5 billion, $40.7 billion and $32.1 billion at December31, 2009, 2008 and 2007, respectively. Mortgage loans serviced for others are not included in loans on the accompanying Consolidated Balance Sheets. BBT recognized servicing fees of $190 million, $145 million and $114 million during 2009, 2008 and 2007, respectively, as a component of mortgage banking income. During 2009, 2008 and 2007, BBT sold residential mortgage loans with unpaid principal balances of $25.8 billion, $13.4 billion and $7.5 billion, respectively, and recognized pretax gains of $357 million, $78 million and $12 million, respectively, which were recorded in noninterest income as a component of mortgage banking income. BBT retained the related mortgage servicing rights and receives servicing fees. At December31, 2009 and 2008, the approximate weighted average servicing fee was .37% of the outstanding balance of the residential mortgage loans. The weighted average coupon interest rate on the portfolio of mortgage loans serviced for others was 5.57% and 6.03% at December31, 2009 and 2008, respectively. At December31, 2009, BBT had $2.0 billion of residential mortgage loans sold with limited recourse liability. In the event of nonperformance by the borrower, BBT has maximum recourse exposure of approximately $667 million on these mortgage loans. At December31, 2009, BBT has recorded $6 million of reserves related to these recourse exposures. The Company also has securitized residential mortgage loans and retained the resulting securities available for sale. As of December31, 2009, the fair value of the securities available for sale still owned by BBT was $62 million and the remaining unpaid principal balance of the underlying loans totaled $60 million. Based on the performance of the underlying loans and general liquidity of the securities, the Companys recove

Federal Funds Purchased, Securi

Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Short-Term Borrowed Funds
	12 Months Ended Dec. 31, 2009 USD / shares
Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Short-Term Borrowed Funds	NOTE9. Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Short-Term Borrowed Funds Federal funds purchased, securities sold under agreements to repurchase and short-term borrowed funds are summarized as follows: December31, 2009 2008 (Dollarsinmillions) Federal funds purchased $ 1,421 $ 584 Securities sold under agreements to repurchase 2,197 2,929 Master notes 1,004 1,708 Other short-term borrowed funds 3,484 5,567 Total $ 8,106 $ 10,788 Federal funds purchased represent unsecured borrowings from other banks and generally mature daily. Securities sold under agreements to repurchase are borrowings collateralized primarily by securities of the U.S. government or its agencies. Master notes are unsecured, non-negotiable obligations of BBT (variable rate commercial paper) that mature in less than one year. Other short-term borrowed funds include unsecured bank notes that mature in less than one year, bank obligations with a maturity of seven days that are collateralized by municipal securities, U.S. Treasury tax and loan deposit notes payable to the U.S. Treasury upon demand or for periods of less than one month, and borrowings under the treasury auction facility. A summary of selected data related to Federal funds purchased, securities sold under agreements to repurchase and short-term borrowed funds follows: As of / FortheYearEndedDecember31, 2009 2008 2007 (Dollars in millions) Maximum outstanding at any month-end during the year $ 19,917 $ 15,704 $ 11,663 Balance outstanding at end of year 8,106 10,788 10,634 Average outstanding during the year 12,491 10,580 9,325 Average interest rate during the year .46 % 2.22 % 4.39 % Average interest rate at end of year .34 .87 3.64

Long-Term Debt

Long-Term Debt
	12 Months Ended Dec. 31, 2009 USD / shares
Long-Term Debt	NOTE 10.Long-Term Debt December31, 2009 December31, 2008 (Dollars in millions) Parent Company 3.10% Senior Notes Due 2011 $ 250 $ 3.85% Senior Notes Due 2012 1,000 3.38% Senior Notes Due 2013 500 5.70% Senior Notes Due 2014 509 6.85% Senior Notes Due 2019 538 6.50% Subordinated Notes Due 2011 (1) 610 648 4.75% Subordinated Notes Due 2012 (1) 489 497 5.20% Subordinated Notes Due 2015 (1,3) 932 997 4.90% Subordinated Notes Due 2017 (1,3) 336 368 5.25% Subordinated Notes Due 2019 (1,3) 586 600 Branch Bank Floating Rate Senior Notes Due 2009 516 Floating Rate Subordinated Notes Due 2016 (1,8) 350 350 Floating Rate Subordinated Notes Due 2017 (1,8) 261 300 4.875% Subordinated Notes Due 2013 (1) 222 250 5.625% Subordinated Notes Due 2016 (1,3) 386 399 Federal Home Loan Bank Advances to Branch Bank (4) Varying maturities to 2034 10,541 9,838 Junior Subordinated Debt to Unconsolidated Trusts (2) 5.85% BBT Capital Trust I Securities Due 2035 514 514 6.75% BBT Capital Trust II Securities Due 2036 598 598 6.82% BBT Capital Trust IV Securities Due 2077 (5) 600 600 8.95% BBT Capital Trust V Securities Due 2068 (6) 450 450 9.60% BBT Capital Trust VI Securities Due 2069 575 8.10% BBT Capital Trust VII Securities Due 2069 350 Other (7) 182 182 Other Long-Term Debt 98 66 Fair value hedge-related basis adjustments 499 859 Total Long-Term Debt $ 21,376 $ 18,032 (1) Subordinated notes that qualify under the risk-based capital guidelines as Tier 2 supplementary capital, subject to certain limitations. (2) Securities that qualify under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations. (3) These fixed rate notes were swapped to floating rates based on LIBOR. At December31, 2009, the effective rates paid on these borrowings ranged from .41% to .81%. (4) At December31, 2009, $800 million of these advances were swapped to a floating rate based on LIBOR. The weighted average cost of these advances was 3.49%, or 3.21% including the effect of the swapped portion, and the weighted average maturity was 7.0 years. (5) These securities are fixed rate through June12, 2037 and then switch to a floating rate based on LIBOR. (6) $360 million of this issuance was swapped to a floating rate based on LIBOR. At December31, 2009, the effective rate on the swapped portion was 3.62%. (7) These securities were issued by companies acquired by BBT. At December31, 2009, the effective rate paid on these borrowings ranged from 1.95% to 10.07%. These securities have varying maturities through 2035. (8) These floating-rate securities are based on LIBOR and had an effective rate of .57% as of December31, 2009. Excluding the capitalized leases set forth in

Shareholders' Equity

Shareholders' Equity
	12 Months Ended Dec. 31, 2009 USD / shares
Shareholders' Equity	NOTE 11.Shareholders Equity Common Stock The authorized common stock of BBT consists of one billion shares with a $5 par value. There were 690million and 559million common shares issued and outstanding at December31, 2009 and 2008, respectively. Preferred Stock The authorized preferred stock of BBT consists of five million shares. At December31, 2009, there were no preferred shares outstanding. At December31, 2008, 3,133.64 shares of preferred stock were issued and outstanding, with a $1,000,000 per share liquidation preference. The shares were issued in connection with the U.S. Treasury Troubled Asset Relief Programs Capital Purchase Program. During the second quarter of 2009, BBT repurchased all outstanding preferred shares issued to the U.S. Treasury in 2008. Equity-Based Plans At December31, 2009, BBT had options, restricted shares and restricted share units outstanding from the following equity-based compensation plans: the 2004 Stock Incentive Plan (2004 Plan), the 1995 Omnibus Stock Incentive Plan (Omnibus Plan), the Non-Employee Directors Stock Option Plan (Directors Plan), and plans assumed from acquired entities, which are described below. All plans generally allow for accelerated vesting of awards for holders who retire and have met all retirement eligibility requirements and in connection with certain other events. BBTs shareholders have approved all equity-based compensation plans with the exception of plans assumed from acquired companies. As of December31, 2009, the 2004 Plan is the only plan that has shares available for future grants. BBTs 2004 Plan is intended to assist the Corporation in recruiting and retaining employees, directors and independent contractors and to associate the interests of eligible participants with those of BBT and its shareholders. At December31, 2009, there were 20.0million non-qualified and qualified stock options at prices ranging from $8.11 to $44.20 and 10.9million restricted shares and restricted share units outstanding under the 2004 Plan. The options outstanding under the 2004 Plan generally vest ratably over five years and have a ten-year term. The restricted shares and restricted share units generally vest five years from the date of grant. At December31, 2009, there were 27.7million shares available for future grants under the 2004 Plan. BBTs Omnibus Plan was intended to allow BBT to recruit and retain employees with ability and initiative and to align the employees interests with those of BBT and its shareholders. At December31, 2009, 22.0million non-qualified and qualified stock options at prices ranging from $11.36 to $43.25 were outstanding. The stock options generally vest over 3 to 5 years and have a ten-year term. The Directors Plan was intended to provide incentives to non-employee directors to remain on the Board of Directors and share in the profitability of BBT. In 2005, the Directors Plan was amended and no future grants will be awarded in connection with this Plan. Directors are currently eligible to receive grants under the 2004 Plan. At December31, 2009, options to purchase 308thousand shares of common stock at prices ranging from $20.74

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)
	12 Months Ended Dec. 31, 2009 USD / shares
Accumulated Other Comprehensive Income (Loss)	NOTE 12. Accumulated Other Comprehensive Income (Loss) The balances in accumulated other comprehensive loss at December31, 2009 and 2008 are shown in the following table. As of December31, 2009 As of December31, 2008 Pre-Tax Amount Deferred TaxExpense (Benefit) After-Tax Amount Pre-Tax Amount Deferred TaxExpense (Benefit) After-Tax Amount (Dollars in millions) Unrecognized net pension and postretirement costs $ (447 ) $ (169 ) $ (278 ) $ (720 ) $ (273 ) $ (447 ) Unrealized net gains on cash flow hedges 173 66 107 76 28 48 Unrealized net losses on securities available for sale (363 ) (138 ) (225 ) (517 ) (193 ) (324 ) FDICs share of unrealized net gains on securities available for sale under the loss share agreements(1) (30 ) (11 ) (19 ) Foreign currency translation adjustment (7 ) (5 ) (2 ) (9 ) (9 ) Total $ (674 ) $ (257 ) $ (417 ) $ (1,170 ) $ (438 ) $ (732 ) (1) Approximately $1.2 billion of securities available for sale are covered by loss sharing agreements with the FDIC as discussed in Note 2 to these consolidated financial statements. The securities covered by the loss share agreements reflected a net unrealized pretax gain of $35 million as of December31, 2009. The FDICs share of this net unrealized pretax gain, upon sale, is $30 million and has been recorded as a reduction in other comprehensive income. As of December31, 2009, unrealized net losses on securities available for sale included $114 million of pre-tax losses related to other-than-temporarily impaired non-agency mortgage-backed securities where a portion of the loss was recognized in net income. The following tables reflect the components of total comprehensive income for the years ended December31, 2009, 2008 and 2007. December31, 2009 Pre-Tax TaxEffect After-Tax Comprehensive income: Net income $ 1,036 $ 159 $ 877 Other comprehensive income: Unrealized net holding gains (losses) arising during the period on securities available for sale 353 130 223 Reclassification adjustment for losses (gains) on securities available for sale included in net income (199 ) (75 ) (124 ) Net change in amounts attributable to the FDIC under the loss share agreements (30 ) (11 ) (19 ) Net change in unrecognized gains (losses) on cash flow hedges 97 38 59 Net change in foreign currency translation adjustment 2 (5 ) 7 Net change in pension and postretirement liability 273 104 169 Total comprehensive income $ 1,532 $ 340 $ 1,192 December31, 2008 Pre-Tax TaxEffect After-Tax Comprehensive income:

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Income Taxes	NOTE 13.Income Taxes The provision for income taxes comprised the following: YearsEndedDecember31, 2009 2008 2007 (Dollars in millions) Current expense: Federal $ 302 $ 899 $ 765 State 15 89 54 Foreign 2 25 Total current expense 319 988 844 Deferred expense (benefit): Federal (143 ) (406 ) (5 ) State (17 ) (32 ) (3 ) Total deferred expense (benefit) (160 ) (438 ) (8 ) Provision for income taxes $ 159 $ 550 $ 836 The foreign income tax expense is related to income generated on assets controlled by a foreign subsidiary of Branch Bank. The reasons for the difference between the provision for income taxes and the amount computed by applying the statutory Federal income tax rate to income before income taxes were as follows: YearsEndedDecember31, 2009 2008 2007 (Dollars in millions) Federal income taxes at statutory rate of 35% $ 362 $ 728 $ 904 Increase (decrease) in provision for income taxes as a result of: Addition to federal tax reserves 26 5 19 State income taxes, net of federal tax benefit (2 ) 37 33 Federal tax credits (78 ) (54 ) (34 ) Interest on federal tax refunds (4 ) (66 ) (7 ) Tax exempt income (108 ) (77 ) (73 ) LILO gain (18 ) Other, net (19 ) (23 ) (6 ) Provision for income taxes $ 159 $ 550 $ 836 Effective income tax rate 15.3 % 26.5 % 32.4 % BBT has entered into certain transactions that have favorable tax treatment. These transactions include loans and investments that produce tax-exempt income and tax credits, reducing BBTs effective tax rate from the statutory rate. During 2009 BBT sold leveraged leases which produced a non-taxable gain and reduced tax expense by $18 million. During the fourth quarter of 2008, BBT agreed to treat its leveraged leases in accordance with the IRSs proposal that, among other things, allows 20% of deductions, imputes interest income and deems the remaining transactions to be terminated as of December31, 2008. As a result of this settlement, BBT recognized pre-tax interest income of $93 million, or $60 million after-tax, which is reflected as a reduction in tax expense and reduced BBTs effective tax rate for 2008. As a result of changes in the timing of tax payments, accounting standards required a recalculation of each transaction that resulted in a $67 million charge to interest income and a corresponding $24 million tax benefit in 2008. The tax effects of temporary differences that gave rise to significant portions of the net deferred tax assets and liabilities are reflected in the table below. Net deferred tax assets a

Benefit Plans

Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Benefit Plans	NOTE 14.Benefit Plans BBT provides various benefit plans to substantially all employees, including employees of acquired entities. Employees of acquired entities generally participate in existing BBT plans after consummation of the business combinations. The plans of acquired institutions are typically merged into the BBT plans after consummation of the mergers, and, under these circumstances, credit is usually given to these employees for years of service at the acquired institution for vesting and eligibility purposes. The Colonial transaction, as an asset purchase, was handled differently from typical mergers. The retirement plans of Colonial were not assumed by BBT, and as such, were not merged into the BBT plans. Credit for years of service with Colonial, where given, was determined on a plan-by-plan basis with regard to the participation of former Colonial employees in BBTs plans. The following table summarizes expenses (income) relating to employee retirement plans: For the Years Ended December31, 2009 2008 2007 (Dollars in millions) Defined benefit plans $ 76 $ 9 $ 32 Defined contribution and ESOP plans 83 76 72 Other 26 (38 ) 12 Total expense related to retirement benefit plans $ 185 $ 47 $ 116 Defined Benefit Retirement Plans BBT provides a defined benefit retirement plan qualified under the Internal Revenue Code that covers substantially all employees. Benefits are based on years of service, age at retirement and the employees compensation during the five highest consecutive years of earnings within the last ten years of employment. In addition, supplemental retirement benefits are provided to certain key officers under supplemental defined benefit executive retirement plans, which are not qualified under the Internal Revenue Code. Although technically unfunded plans, a Rabbi Trust and insurance policies on the lives of the certain covered employees are available to finance future benefits. The following are the significant actuarial assumptions that were used to determine net periodic pension costs: December31, 2009 2008 Actuarial Assumptions Weighted average assumed discount rate 6.20 % 6.60 % Weighted average expected long-term rate of return on plan assets 8.00 8.00 Assumed rate of annual compensation increases 20092011 2.50 2.50 Assumed rate of annual compensation increases thereafter 4.50 4.50 The weighted average expected long-term rate of return on plan assets represents the average rate of return expected to be earned on plan assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rate of return, BBT considers long-term compound annualized returns of historical market data for each asset category, as well as historical actual returns on the Companys plan assets. Using this reference information, the Company develops forward-looking return expectations for each asset category and a weighted average expected lo

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Commitments and Contingencies	NOTE 15.Commitments and Contingencies BBT utilizes a variety of financial instruments to meet the financing needs of clients and to reduce exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, letters of credit and financial guarantees and derivatives. BBT also has commitments to fund certain affordable housing investments and contingent liabilities of certain sold loans. The following table presents the contractual or notional amount of these instruments: ContractorNotional Amount at December31, 2009 2008 (Dollarsinmillions) Financial instruments whose contract amounts represent credit risk: Commitments to extend, originate or purchase credit $ 36,130 $ 35,144 Letters of credit and financial guarantees written 7,999 5,895 Financial instruments whose notional or contract amounts exceed the amount of credit risk: Derivative financial instruments 66,175 74,177 Commitments to fund affordable housing investments 371 412 Residential mortgage loans sold with recourse 1,986 2,470 Other loans sold with recourse 3,989 3,259 Commitments to extend, originate or purchase credit are primarily lines of credit to businesses and consumers and have specified rates and maturity dates. Many of these commitments also have adverse change clauses, which allow BBT to cancel the commitment due to deterioration in the borrowers creditworthiness. Letters of credit and financial guarantees written are unconditional commitments issued by BBT to guarantee the performance of a customer to a third party. As of December31, 2009, BBT had issued $8.0 billion in such guarantees. The carrying amount of the liability for such guarantees was $40 million and $20 million at December31, 2009 and 2008, respectively. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper issuance, bond financing and similar transactions. The credit risk involved in the issuance of these guarantees is essentially the same as that involved in extending loans to clients and as such, the instruments are collateralized when necessary. A derivative is a financial instrument that derives its cash flows, and therefore its value, by reference to an underlying instrument, index or referenced interest rate. These instruments include interest-rate swaps, swaptions, caps, floors, collars, financial forward and futures contracts, when-issued securities, foreign exchange contracts and options written and purchased. BBT uses derivatives primarily to manage risk related to securities, business loans, Federal Funds purchased, other overnight funding, long-term debt, mortgage servicing rights, mortgage banking operations and certificates of deposit. BBT also uses derivatives to facilitate transactions on behalf of its clients. BBT held a variety of derivative financial instruments with notional values of $66.2 billion and $74.2 billion at December31, 2009 and 2008, respectively. These instruments were in a net gain position of $283 million and $626 milli

Regulatory Requirements and Oth

Regulatory Requirements and Other Restrictions
	12 Months Ended Dec. 31, 2009 USD / shares
Regulatory Requirements and Other Restrictions	NOTE 16.Regulatory Requirements and Other Restrictions Branch Bank and BBT FSB are required by the Board of Governors of the Federal Reserve System to maintain reserve balances in the form of vault cash or deposits with the Federal Reserve Bank based on specified percentages of certain deposit types, subject to various adjustments. At December31, 2009, the net reserve requirement amounted to $167 million. Branch Bank is subject to laws and regulations that limit the amount of dividends it can pay. In addition, both BBT and Branch Bank are subject to various regulatory restrictions relating to the payment of dividends, including requirements to maintain capital at or above regulatory minimums, and to remain well-capitalized under the prompt corrective action regulations. BBT does not expect that any of these laws, regulations or policies will materially affect the ability of Branch Bank to pay dividends. BBT is subject to various regulatory capital requirements administered by the Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatoryand possibly additional discretionaryactions by regulators that, if undertaken, could have a direct material effect on BBTs financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation must meet specific capital guidelines that involve quantitative measures of BBTs assets, liabilities and certain off-balance-sheet items calculated pursuant to regulatory directives. BBTs capital amounts and classification also are subject to qualitative judgments by the regulators about components, risk weightings and other factors. BBT is in full compliance with these requirements. Banking regulations also identify five capital categories for insured depository institutions: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. At December31, 2009 and 2008, BBT and Branch Bank were classified as well capitalized. Quantitative measures established by regulation to ensure capital adequacy require BBT to maintain minimum amounts and ratios of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to average tangible assets (leverage ratio). The following table provides summary information regarding regulatory capital for BBT and Branch Bank as of December31, 2009 and 2008: December31, 2009 December31, 2008 Actual Capital Capital Requirements Actual Capital Capital Requirements Ratio Amount Minimum Well-Capitalized Ratio Amount Minimum Well-Capitalized (Dollars in millions) Tier 1 Capital BBT 11.5 % $ 13,456 $ 4,687 $ 7,030 12.3 % $ 13,446 $ 4,390 $ 6,585 Branch Bank 12.1 13,544 4,480 6,720 10.8 11,533 4,273 6,409 Total Capital BBT 15.8 18,470 9,373 11,717 17.4 19,109 8,781 10,976 Branch Bank

Parent Company Financial Statem

Parent Company Financial Statements
	12 Months Ended Dec. 31, 2009 USD / shares
Parent Company Financial Statements	NOTE 17.Parent Company Financial Statements Parent Company Condensed Balance Sheets December31, 2009 and 2008 2009 2008 (Dollarsinmillions) Assets Cash and due from banks $ 145 $ 274 Securities available for sale at fair value 170 182 Investment in banking subsidiaries 19,575 16,466 Investment in other subsidiaries 1,736 1,501 Total investments in subsidiaries 21,311 17,967 Advances to / receivables from banking subsidiaries 2,817 4,057 Advances to / receivables from other subsidiaries 2,259 1,601 Premises and equipment 4 4 Other assets 267 227 Total assets $ 26,973 $ 24,312 Liabilities and Shareholders' Equity Short-term borrowed funds $ 1,004 $ 1,709 Dividends payable 103 279 Accounts payable and other liabilities 142 42 Long-term debt 5,899 3,579 Long-term debt due to subsidiaries 3,584 2,622 Total liabilities 10,732 8,231 Total shareholders' equity 16,241 16,081 Total liabilities and shareholders' equity $ 26,973 $ 24,312 Parent Company Condensed Income Statements For the Years Ended December31, 2009, 2008 and 2007 2009 2008 2007 (Dollars in millions) Income Dividends from banking subsidiaries $ 459 $ 1,172 $ 1,184 Dividends from other subsidiaries 306 404 30 Interest and other income from subsidiaries 89 155 180 Other (loss) income 3 (67 ) 8 Total income 857 1,664 1,402 Expenses Interest expense 302 273 352 Other expenses 16 32 30 Total expenses 318 305 382 Income before income taxes and equity in undistributed earnings of subsidiaries 539 1,359 1,020 Income tax benefit 42 76 65 Income before equity in undistributed earnings of subsidiaries 581 1,435 1,085 Equity in undistributed earnings of subsidiaries in excess of dividends from subsidiaries 296 94 661 Net income 877 1,529 1,746 Noncontrolling interests 24 10 12 Dividends and accretion on preferred stock 124 21 Net income available to common shareholders $ 729 $ 1,498 $ 1,734 Parent Company Condensed Statements of Cash Flows For the Years Ended December31, 2009, 2008 and 2007 2009 2008 2007 (Dollars in millions) Cash Flows From Operating Activities: Net income $ 877 $ 1,529 $ 1,746 Adjustments to reconcile net income to net cash provided by operating activities:

Fair Value Disclosures

Fair Value Disclosures
	12 Months Ended Dec. 31, 2009 USD / shares
Fair Value Disclosures	NOTE 18.Fair Value Disclosures BBT carries various assets and liabilities at fair value based on applicable accounting standards. In addition, BBT has elected to account for prime residential mortgage and commercial mortgage loans held for sale at fair value in accordance with applicable accounting standards (the Fair Value Option). Accounting standards have established a framework for measuring fair value and defines fair value as the exchange price that would be received on the measurement date to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants. These standards also established a three level fair value hierarchy that describes the inputs that are used to measure assets and liabilities. Level 1 Level 1 asset and liability fair values are based on quoted prices in active markets for identical assets and liabilities. Level 1 assets and liabilities include certain equity securities and derivative contracts that are traded in an active market. Level 2 Level 2 asset and liability fair values are based on observable inputs that include: quoted market prices for similar assets or liabilities; quoted market prices that are not in an active market; or other inputs that are observable in the market and can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include fixed income securities and mortgage-backed securities that are held in the Corporations trading and available-for-sale portfolios, loans held for sale, certain derivative contracts and short-term borrowings. Level 3 Level 3 assets and liabilities are financial instruments whose value is calculated by the use of pricing models and/or discounted cash flow methodologies, as well as financial instruments for which the determination of fair value requires significant management judgment or estimation. These methodologies may result in a significant portion of the fair value being derived from unobservable data. Level 3 assets and liabilities include certain trading securities, obligations of state and political subdivisions, non-agency mortgage-backed securities, covered securities, mortgage servicing rights, venture capital and similar investments as well as certain derivative contracts. Assets and liabilities measured at fair value on a recurring basis, including financial instruments for which BBT has elected the Fair Value Option are summarized below: 12/31/2009 FairValueMeasurementsforAssetsandLiabilities Measured on aRecurring Basis Level1 Level2 Level3 (Dollars in Millions) Assets: Trading securities $ 636 $ 255 $ 288 $ 93 Securities available for sale: U.S. government-sponsored entities (GSE) 2,035 2,035 Mortgage-backed securities issued by GSE 26,670 26,670 States and political subdivisions 2,107 1,897 210 Non-agency mortgage-backed securities 1,022 1,022 Eq

Derivative Financial Instrument

Derivative Financial Instruments
	12 Months Ended Dec. 31, 2009 USD / shares
Derivative Financial Instruments	NOTE 19.Derivative Financial Instruments BBT uses a variety of derivative instruments to manage interest rate and foreign exchange risks. These instruments consist of interest-rate swaps, swaptions, caps, floors, collars, financial forward and futures contracts, when-issued securities, foreign exchange contracts and options written and purchased. A derivative is a financial instrument that derives its cash flows, and therefore its value, by reference to an underlying instrument, index or referenced interest rate. There are five areas of risk management: balance sheet management, mortgage banking operations, mortgage servicing rights, net investment in a foreign subsidiary and client-related and other risk management activities. The following tables set forth certain information concerning BBTs derivative financial instruments and related hedged items at December31, 2009: Derivative Classifications and Hedging Relationships HedgedItemor Transaction December31, 2009 Notional Amount Fair Value Gain(1) Loss(1) (Dollars in millions) Derivatives Designated as Cash Flow Hedges: Interest rate contracts: Receive fixed swaps First forecasted interest receipts on commercial loans $ 1,000 $ 28 $ Pay fixed swaps First forecasted interest payments on 3 month LIBOR funding 4,300 38 (26 ) Caps First forecasted interest payments on 3 month LIBOR funding 200 Total 5,500 66 (26 ) Derivatives Designated as Net Investment Hedges: Foreign exchange contracts 73 (1 ) Total 73 (1 ) Derivatives Designated as Fair Value Hedges: Interest rate contracts: Receive fixed swaps Individual fixed rate long-term debt issuances 3,429 192 (43 ) Receive fixed swaps Long-term CD's 328 2 Pay fixed swaps Individual fixed rate municipal securities classified as available for sale 354 (50 ) Total 4,111 194 (93 ) Derivatives Not Designated as Hedges: Client-related and other risk management Interest rate contracts Receive fixed swaps 10,004 392 (32 ) Pay fixed swaps 10,401 32 (369 ) Other swaps 7,014 3 (3 ) Option trades 922 Swaptions 538 24 (24 ) Futures contracts 611 Collars 123 4 (5 ) Foreign exchange contracts 373 7 (6 ) Mortgage Banking Interest rate contracts Interest rate lock commitments 2,970 5 (19 ) Forward commitments 4,662 48 (5 ) Swaptions 200 11 Option trades 340 1 (5 ) TBA/When issued securitie

Computation of Earnings Per Com

Computation of Earnings Per Common Share
	12 Months Ended Dec. 31, 2009 USD / shares
Computation of Earnings Per Common Share	NOTE 20.Computation of Earnings Per Common Share The basic and diluted earnings per common share calculations are presented in the following table: Years Ended December31, 2009 2008 2007 (Dollars in millions, except per share data, shares in thousands) Basic Earnings Per Share: Net income available to common shareholders $ 729 $ 1,498 $ 1,734 Weighted average number of common shares 629,583 548,847 547,184 Basic earnings per share $ 1.16 $ 2.73 $ 3.17 Diluted Earnings Per Share: Net income available to common shareholders $ 729 $ 1,498 $ 1,734 Weighted average number of common shares 629,583 548,847 547,184 Add: Effect of dilutive outstanding equity-based awards 6,036 3,651 4,571 Weighted average number of diluted common shares 635,619 552,498 551,755 Diluted earnings per share $ 1.15 $ 2.71 $ 3.14 For the years ended December31, 2009, 2008 and 2007, respectively, the number of antidilutive options was 38.6million, 33.5million and 14.0 million. In addition, BBT had a warrant outstanding for 13.9million shares as of December31, 2008 that was antidilutive.

Operating Segments

Operating Segments
	12 Months Ended Dec. 31, 2009 USD / shares
Operating Segments	NOTE 21.Operating Segments BBTs operations are divided into seven reportable business segments: the Banking Network, Residential Mortgage Banking, Sales Finance, Specialized Lending, Insurance Services, Financial Services, and Treasury. These operating segments have been identified based on BBTs organizational structure. The segments require unique technology and marketing strategies and offer different products and services. While BBT is managed as an integrated organization, individual executive managers are held accountable for the operations of these business segments. BBT measures and presents information for internal reporting purposes in a variety of different ways. The internal reporting system presently used by management in the planning and measuring of operating activities, as well as the system to which most managers are held accountable, is based on organizational structure. BBT emphasizes revenue growth by focusing on client service, sales effectiveness and relationship management. The segment results contained herein are presented based on internal management accounting policies that were designed to support these strategic objectives. Unlike financial accounting, there is no comprehensive authoritative body of guidance for management accounting equivalent to generally accepted accounting principles. The performance of the segments is not comparable with BBTs consolidated results or with similar information presented by any other financial institution. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. The management accounting process uses various estimates and allocation methodologies to measure the performance of the operating segments. To determine financial performance for each segment, BBT allocates capital, funding charges and credits, an economic provision for loan and lease losses, certain noninterest expenses and income tax provisions to each segment, as applicable. Also, to promote revenue growth and provide a basis for employee incentives, certain revenues of Residential Mortgage Banking, Sales Finance, Specialized Lending, Insurance Services, Financial Services and other segments are reflected in the individual segment results and also allocated to the Banking Network. These allocated revenues are reflected in intersegment net referral fees and eliminated to arrive at consolidated results. Allocation methodologies are subject to periodic adjustment as the internal management accounting system is revised and business or product lines within the segments change. Also, because the development and application of these methodologies is a dynamic process, the financial results presented may be periodically revised. BBTs overall objective is to maximize shareholder value by optimizing return on equity and managing risk. Allocations of capital and the economic provision for loan and lease losses are designed to address this objective. Capital is assigned to each segment on an economic basis, using managements assessment of the inherent risks associated with the

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Type	10-K
Amendment Flag	false
Document Period End Date	2009-12-31

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Jan. 31, 2010	Jun. 30, 2009
Trading Symbol	BBT
Entity Registrant Name	BB&T CORP
Entity Central Index Key	0000092230
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		690,679,160
Entity Public Float			$15,100,000,000