EXHIBIT 11
BB&T CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE PERIODS AS INDICATED
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
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1997 1996 1997 1996
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(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
PRIMARY EARNINGS PER SHARE:
Weighted average number of common shares outstanding
during the period..................................... 134,728,444 136,540,183 136,069,392 135,791,734
Add --
Dilutive effect of outstanding options
(as determined by application of treasury stock
method)............................................. 2,715,475 1,965,558 2,448,077 1,799,357
Issuance of additional shares under share repurchase
agreement, contingent upon market price............. 74,296 21,117 96,657 124,789
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Weighted average number of common shares, as adjusted.... 137,518,215 138,526,858 138,614,126 137,715,880
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Net income............................................... $ 61,264 $ 68,341 $ 256,546 $ 240,191
Less -- Preferred dividend requirement................... -- -- -- 610
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Income available for common shares....................... $ 61,264 $ 68,341 $ 256,546 $ 239,581
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Primary earnings per share............................... $ .45 $ .49 $ 1.85 $ 1.74
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average number of common shares outstanding
during the period..................................... 134,728,444 136,540,183 136,069,392 135,791,734
Add --
Shares issuable assuming conversion of convertible
preferred stock..................................... -- -- -- 1,253,820
Dilutive effect of outstanding options (as determined
by application of treasury stock method)............ 2,809,528 2,143,763 2,904,747 2,209,534
Issuance of additional shares under share repurchase
agreement, contingent upon market price............. 74,296 21,117 96,657 124,789
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Weighted average number of common shares, as adjusted.... 137,612,268 138,705,063 139,070,796 139,379,877
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Net income............................................... $ 61,264 $ 68,341 $ 256,546 $ 240,191
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Fully diluted earnings per share......................... $ .45 $ .49 $ 1.84 $ 1.72
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