BB&T 2009 Annual Report Download - page 12

including current and projected capital ratios and levels, the competence, experience and integrity of
management and record of compliance with laws and regulations, the convenience and needs of the communities
to be served, including the acquiring institution’s record of compliance under the Community Reinvestment Act,
and the effectiveness of the acquiring institution in combating money laundering activities. In addition, BB&T
cannot be certain when or if, or on what terms and conditions, any required regulatory approvals will be granted.
In specific cases the Company may be required to sell banks or branches, or take other actions as a condition to
receiving regulatory approval.
BB&T’s stock price can be volatile.
BB&T’s stock price can fluctuate widely in response to a variety of factors including:
Šactual or anticipated variations in quarterly operating results;
Šrecommendations by securities analysts;
Šnew technology used, or services offered, by competitors;
Šsignificant acquisitions or business combinations, strategic partnerships, joint ventures or capital
commitments by or involving the Company or the Company’s competitors;
Šfailure to integrate acquisitions or realize anticipated benefits from acquisitions;
Šoperating and stock price performance of other companies that investors deem comparable to BB&T;
Šnews reports relating to trends, concerns and other issues in the financial services industry;
Šchanges in government regulations; and
Šgeopolitical conditions such as acts or threats of terrorism or military conflicts.
General market fluctuations, industry factors and general economic and political conditions and events, such
as economic slowdowns or recessions, interest rate changes, credit loss trends, or currency fluctuations could also
cause BB&T’s stock price to decrease regardless of the Company’s operating results.
Operating Subsidiaries
At December 31, 2009, the principal operating subsidiaries of BB&T included the following:
ŠBranch Banking and Trust Company, Winston-Salem, North Carolina
ŠBB&T Financial, FSB, Columbus, Georgia
ŠScott & Stringfellow, LLC, Richmond, Virginia
ŠRegional Acceptance Corporation, Greenville, North Carolina
ŠBB&T Asset Management, Inc., Raleigh, North Carolina
Branch Bank, BB&T’s largest subsidiary, was chartered in 1872 and is the oldest bank headquartered in
North Carolina. Branch Bank provides a wide range of banking and trust services for retail and commercial
clients in its geographic markets, including small and mid-size businesses, public agencies, local governments and
individuals, through 1,857 offices (as of December 31, 2009) located in North Carolina, Virginia, Florida, Georgia,
Maryland, South Carolina, Alabama, Kentucky, West Virginia, Tennessee, Nevada, Texas, Washington D.C and
Indiana. Branch Bank exited its 22 Nevada branches in January 2010. Branch Bank’s principal operating
subsidiaries include:
ŠBB&T Equipment Finance Corporation, based in Charlotte, North Carolina, which provides loan and
lease financing to commercial and small businesses;
ŠBB&T Investment Services, Inc., a registered broker-dealer located in Charlotte, North Carolina, which
offers clients non-deposit investment alternatives, including discount brokerage services, equities, fixed-
rate and variable-rate annuities, mutual funds and government and municipal bonds;
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