BB&T 2009 Annual Report Download - page 4

OVERVIEW AND DESCRIPTION OF BUSINESS
General
BB&T Corporation (“BB&T”, “the Company”, “the Corporation” or “the Parent Company”), is a financial
holding company headquartered in Winston-Salem, North Carolina. BB&T conducts its business operations
primarily through its commercial bank subsidiary, Branch Banking and Trust Company (“Branch Bank”), which
has offices in North Carolina, Virginia, Florida, Georgia, Maryland, South Carolina, Alabama, Kentucky, West
Virginia, Tennessee, Nevada, Texas, Washington D.C and Indiana. Branch Bank exited the Nevada markets in
January 2010. In addition, BB&T’s operations consist of a federally chartered thrift institution, BB&T Financial,
FSB (“BB&T FSB”), and several nonbank subsidiaries, which offer financial services products. Substantially all
of the loans made by BB&T’s subsidiaries are to businesses and individuals in these market areas.
Forward-Looking Statements
This Annual Report on Form 10-K contains forward-looking statements with respect to the financial
condition, results of operations and businesses of BB&T. These forward-looking statements involve certain risks
and uncertainties and are based on the beliefs and assumptions of the management of BB&T and the information
available to management at the time that these disclosures were prepared. Factors that may cause actual results
to differ materially from those contemplated by such forward-looking statements include, among others, the
following:
Šgeneral economic or business conditions, either nationally or regionally, may be less favorable than
expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for
credit or other services;
Šchanges in the interest rate environment may reduce net interest margins and/or the volumes and values
of loans made or held as well as the value of other financial assets held;
Šcompetitive pressures among depository and other financial institutions may increase significantly;
Šlegislative or regulatory changes, including changes in accounting standards, may adversely affect the
businesses in which BB&T is engaged;
Šlocal, state or federal taxing authorities may take tax positions that are adverse to BB&T;
Šadverse changes may occur in the securities markets;
Šcompetitors of BB&T may have greater financial resources and develop products that enable them to
compete more successfully than BB&T;
Šunpredictable natural and other disasters could have an adverse effect on BB&T in that such events could
materially disrupt its operations or the ability or willingness of its customers to access the financial
services offered by BB&T;
Šcosts or difficulties related to the integration of the businesses of BB&T and its merger partners may be
greater than expected;
Šexpected cost savings associated with completed mergers or acquisitions may not be fully realized or
realized within the expected time frames; and
Šdeposit attrition, customer loss and/or revenue loss following completed mergers may be greater than
expected.
Risk Factors Related to BB&T’s Business
Changes in national, regional and local economic conditions could lead to higher loan charge-offs and reduce
BB&T’s net income and growth.
BB&T’s business is subject to periodic fluctuations based on national, regional and local economic conditions.
These fluctuations are not predictable, cannot be controlled, and may have a material adverse impact on the
Company’s operations and financial condition even if other favorable events occur. BB&T’s banking operations
are locally oriented and community-based. Accordingly, the Company expects to continue to be dependent upon
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