BB&T reports 2009 net income of $877 million;

Earnings per common share total $.27 for the fourth quarter

WINSTON-SALEM, North Carolina, January 22 - BB&T Corporation (NYSE: BBT) today reported earnings for the fourth
quarter and the full year 2009. For the fourth quarter, net income totaled
$194 million, or $.27 per diluted common share, compared with $307 million,
or $.51 per diluted common share, earned during the fourth quarter of 2008.
Results for the fourth quarter of 2009 produced annualized returns on average
assets and average common shareholders' equity of .47% and 4.52%,
respectively.

"I am pleased to report solid fourth quarter earnings, given the current
credit cycle, and pleased to convey a number of very positive trends in our
performance," said Chairman and Chief Executive Officer Kelly S. King. "We
enjoyed record net revenues for 2009, driven by strong mortgage banking
income of $658 million and record insurance income, which exceeded $1
billion, as well as solid growth in net interest income. Our revenue growth
for the quarter was robust at 22.7% and the net interest margin improved to
3.80% for the quarter. Growth in average noninterest-bearing deposits
continues to be exceptional, at 41.5%, and average client deposits increased
28.8%, reflecting continued improvement in deposit mix and the impact of the
Colonial acquisition. Importantly, we experienced a significantly slower
growth rate in nonperforming assets in the fourth quarter compared to recent
quarters.

"Our Colonial Bank integration is progressing well and all remaining
systems are scheduled to be converted by the end of the second quarter. We
continue to expect meaningful earnings accretion from the transaction, which
provides tremendous strategic benefits for BB&T. We are excited about the
opportunity to expand our client base and meet the financial needs of the
businesses and individuals in these key markets, and we are encouraged by
very strong growth of $1.5 billion in client deposits in the former Colonial
branches."

For the full year 2009, BB&T's net income was $877 million, compared with
$1.5 billion earned in 2008. Diluted earnings per common share for 2009
totaled $1.15, compared with $2.71 earned during the same period in 2008.
Results for the full year 2009 produced returns on average assets and average
common shareholders' equity of .56% and 4.93%, respectively.

Growth rate in nonperforming assets slows to 7%; early stage credit
indicators remain stable

The linked-quarter growth rate in nonperforming assets slowed to 7% in
the fourth quarter of 2009 compared to 23% in the third quarter of 2009.
Nonperforming assets as a percentage of total assets increased to 2.65% at
Dec. 31, 2009, compared with 2.48% at Sept. 30, 2009. Annualized net
charge-offs were 1.83% of average loans and leases for the fourth quarter of
2009, an increase from 1.71% in the third quarter. Early indicators of
problem loans continue to be relatively stable compared with the third
quarter of 2009 and have improved significantly compared to year-end 2008
levels.

The provision for credit losses totaled $725 million in the fourth
quarter of 2009, an increase of $197 million compared with the fourth quarter
of 2008, and exceeded net charge-offs by $237 million, or $.21 per diluted
share. The higher provision increased the allowance for loan and lease losses
as a percentage of loans held for investment to 2.51% at Dec. 31, 2009,
compared with 2.29% at Sept. 30, 2009. The increases in nonperforming assets
and the provision for credit losses were driven by continued deterioration in
housing-related credits. The largest concentration of housing-related credit
issues continues to be in Atlanta, Florida, and metro Washington, D.C., with
some deterioration in the coastal areas of the Carolinas.

Client deposit growth remains excellent, up 28.8%; transaction accounts
up 42.9%

The growth rate in average client deposits was very strong, including
balances acquired from Colonial, compared with the fourth quarter of 2008.
Average client deposits totaled $105.4 billion for the fourth quarter of
2009, an increase of $23.6 billion, or 28.8%, compared to the fourth quarter
of 2008. The increase in client deposits included growth in average
transaction accounts, which increased $6.7 billion, or 42.9%, compared with
the fourth quarter of 2008, and a 30.5% increase in savings and other client
deposits, excluding certificates of deposit. Excluding the Colonial
acquisition, average client deposit growth was 7.1% and average transaction
account growth was 22.0%, reflecting continued improvement in deposit mix
during the fourth quarter. In addition, deposit costs have continued to
decrease while balances have continued to grow.

Average loans and leases held for investment totaled $103.4 billion for
the fourth quarter, reflecting an increase of $7.4 billion, or 7.7%,
including the $8.2 billion in average loans acquired from Colonial, compared
to the fourth quarter of 2008. Excluding the loans acquired through the
Colonial transaction, there was a slight decline in average loans and leases
held for investment for the fourth quarter of 2009 compared to the fourth
quarter of the prior year. This decline reflects reductions in BB&T's
exposure to real estate loans, which have been partially offset by
improvement in commercial and industrial lending and growth in loans
originated through BB&T's specialized lending group. Commercial and
industrial loans outstanding at Dec. 31, 2009 increased 11.5%, on an
annualized basis, compared to Sept. 30, 2009.

Net interest margin improves to 3.80%; net interest income up 24.5%;
margin outlook improves

BB&T's fully taxable equivalent net interest income totaled $1.36 billion
for the fourth quarter of 2009, an increase of 24.5% compared with the same
quarter of 2008. Average interest earning assets for the current quarter grew
by 13.4% compared to the same quarter of 2008. The net interest margin was
3.80% for the fourth quarter of 2009, up 33 basis points compared with 3.47%
in the fourth quarter of 2008, and up 12 basis points compared with the third
quarter of 2009. During the fourth quarter of 2009, BB&T updated its
valuation of loans acquired from Colonial Bank based on enhanced loan
information, which resulted in an increase in the value and the expected
yields of the acquired loan portfolio. In connection with the revaluation,
BB&T recognized $9 million of interest income in the fourth quarter of 2009
that related to the third quarter of 2009, which added approximately two
basis points to fourth quarter net interest margin. In the fourth quarter of
2008, the net interest margin was reduced by $67 million, or 21 basis points,
as a result of BB&T's settlement with the Internal Revenue Service related to
leveraged lease investments. The improvement in the margin compared to the
third quarter of 2009 was the result of wider credit and funding spreads,
improved funding mix and the revaluation of assets acquired from Colonial.
Because of these factors, management's outlook for net interest margin in
2010 has improved.

Noninterest revenues increase 20.2% led by mortgage banking revenue, up
86.8%

Noninterest income increased $163 million, or 20.2%, during the fourth
quarter of 2009 compared with the same quarter of 2008. These increases
reflect a very strong performance from BB&T's mortgage banking operations
during the quarter, as well as increased revenue from BB&T's insurance
operations. The increase also reflects growth in service charges on deposit
accounts, checkcard fees and other nondeposit fees and commissions.

BB&T earned $142 million in mortgage-related revenue in the fourth
quarter of 2009, an increase of 86.8% compared with the fourth quarter of
2008. The growth in mortgage banking income is due to continued strong
production revenue from residential mortgage banking operations and increased
servicing income as a result of growth in the servicing portfolio. BB&T
originated $5.3 billion of mortgage loans during the fourth quarter of 2009
and enjoyed record production of $28.2 billion for the full year 2009.

BB&T earned $260 million in insurance-related revenue in the fourth
quarter, up $13 million, or 5.3%, compared with the fourth quarter of 2008.
The increase in insurance income was due to growth in property and casualty
fees and growth resulting from acquisitions.

Service charges on deposit accounts totaled $186 million in the fourth
quarter of 2009, an increase of $15 million compared to the same quarter of
2008. The increase in service charges was primarily due to additional revenue
generated by the acquired Colonial Bank customers. Checkcard fees and other
nondeposit fees and commissions increased 24.0% and 30.6%, respectively,
compared to the fourth quarter of 2008. The increase in checkcard fees was
primarily due to increased usage by new and existing clients. The growth in
nondeposit fees and commissions was primarily the result of issuing more
letters of credit and other commercial loan servicing fees, as well as a
strong performance from BB&T's equipment finance business. Trust and
investment advisory revenue increased 18.8% due to improved market conditions
and improved fee income from Wealth Management.

Other noninterest income totaled $70 million during the fourth quarter of
2009, compared with a loss of $15 million for the same period of 2008. The
growth in other noninterest income includes a pre-tax gain of $27 million, or
$.02 per diluted share, from the sale of BB&T's Payroll Services division.
The sale of the payroll processing business includes a strategic partnership
that will enable BB&T to continue to offer quality payroll services to
clients and generate revenues through referral fees. In addition, other
income increased $38 million as a result of market-related increases in
trading assets for post-employment benefits that are offset by a similar
increase in personnel expense. Other income also grew $11 million due to
accretion of income associated with the FDIC loss share asset.

Noninterest expenses increase due to additional credit costs and FDIC
insurance expense

BB&T's noninterest expenses increased $349 million, or 34.5%, in the
fourth quarter of 2009 compared with the same period in 2008. The increase
included $115 million of additional foreclosed property expenses; an
additional $34 million in FDIC insurance expense; increased pension costs of
$17 million, and $38 million for post-employment benefits expense that are
offset by additional noninterest income. Excluding these items, and
approximately $159 million of growth resulting from purchase acquisitions,
noninterest expenses were down 1.2% compared with the prior year's fourth
quarter.

Capital levels remain strong

BB&T's Tier 1 common ratio at Dec. 31, 2009, was 8.5% compared to 8.4% at
Sept. 30, 2009, and remains among the strongest in the industry. The Tier 1
risk-based capital and total risk-based capital ratios were 11.5% and 15.7%,
respectively, at Dec. 31, 2009, compared with 11.1% and 15.6%, respectively,
at Sept. 30, 2009. BB&T's risk-based and tangible capital ratios remain well
above regulatory standards for well-capitalized banks.

BB&T continues to expand insurance business

During the fourth quarter, BB&T Insurance Services expanded its southwest
Florida operation with the acquisition of Oswald Trippe and Company, Inc. of
Fort Myers, Fla. This acquisition will strengthen BB&T's Florida insurance
franchise at the same time that BB&T has expanded its presence in southwest
Florida with the FDIC-assisted acquisition of Colonial Bank in August 2009.

At Dec. 31, 2009, BB&T had $165.8 billion in assets and operated 1,857
banking offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia,
Maryland, Tennessee, Florida, Alabama, Texas, Indiana and Washington, D.C.
BB&T's common stock is traded on the New York Stock Exchange under the
trading symbol BBT. For additional information about BB&T's financial
performance, company news and products and services, please visit our Web
site at www.BBT.com.

Earnings webcast and Quarterly Performance Summary

To hear a live webcast of BB&T's fourth quarter 2009 earnings conference
call at 8 a.m. (ET) today, please visit our Web site at www.BBT.com. Replays
of the conference call will be available on the BB&T Web site until Friday,
Feb. 5, or by dialing +1-888-203-1112 (access code 6794434) until Wednesday,
Jan. 27.

BB&T's Fourth Quarter 2009 Quarterly Performance Summary, which contains
detailed financial schedules, is available on BB&T's Web site at
www.bbt.com/bbt/about/financialprofile/statements.html.

Regulatory capital ratios are preliminary.

This news release contains performance measures 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. BB&T's
management uses these measures to evaluate the underlying performance and
efficiency of its operations. It believes that these non-GAAP measures
provide a greater understanding of ongoing operations and enhance
comparability of results with prior periods as well as demonstrating the
effects of significant gains and charges in the current period. The Company
believes that a meaningful analysis of its financial performance requires an
understanding of the factors underlying that performance. BB&T's management
believes that investors may use these non-GAAP financial measures to analyze
financial performance without the impact of unusual items that may obscure
trends in the Company's underlying performance. These disclosures should not
be viewed as a substitute for financial measures determined in accordance
with GAAP, nor are they necessarily comparable to non-GAAP performance
measures that may be presented by other companies. Tangible common equity and
Tier 1 common equity ratios are Non-GAAP measures. BB&T uses the Tier 1
common equity definition used in the SCAP assessment to calculate these
ratios. BB&T's management uses these measures to assess the quality of
capital and believes that investors may find them useful in their analysis of
the corporation. These capital measures are not necessarily comparable to
similar capital measures that may be presented by other companies.

This news 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 news release.

ANALYSTS: Tamera Gjesdal, Senior Vice President, Investor Relations, +1-336-733-3058, or Daryl Bible, Sr. Exec. Vice President, Chief Financial Officer, +1-336-733-3031; MEDIA: Cynthia Williams, Senior Vice President, Corporate Communications, +1-336-733-1478