BB&T 2010 Annual Report Download - page 134

Junior Subordinated Debt to Unconsolidated Trusts
The following table is a summary of the significant terms of outstanding Junior Subordinated Debt at
December 31, 2010 as originated by BB&T and its subsidiaries and predecessor companies:
Issuer Issuance Date
December 31,
Stated Maturity Final Maturity Interest Rate Redemption Period2010 2009
(Dollars in millions)
BB&T Capital Trust I August 2005 $ 514 $ 514 August 2035 5.85 % Anytime
BB&T Capital Trust II June 2006 598 598 June 2036 6.75 Anytime
BB&T Capital Trust IV (1) June 2007 600 600 June 2057 June 2077 6.82 Anytime
BB&T Capital Trust V (2)(3) September 2008 450 450 September 2063 September 2068 8.95 after 09/15/13
BB&T Capital Trust VI (3) July 2009 575 575 August 2064 August 2069 9.60 after 08/01/14
BB&T Capital Trust VII October 2009 350 350 November 2064 November 2069 8.10 after 11/01/14
Mason-Dixon Capital Trust July 1997 21 21 June 2027 10.07 after 06/15/07
MainStreet Capital Trust I November 1997 48 48 December 2027 8.90 after 12/01/07
Premier Capital Trust I November 1997 30 30 December 2027 9.00 after 12/31/07
Main Street Banks Statutory
Trust I November 2002 5 5 November 2032 Variable after 11/15/07
Main Street Banks Statutory
Trust II May 2003 46 46 June 2033 Variable after 06/30/08
Coastal Financial Capital
Trust I July 2003 15 15 July 2033 Variable after 07/03/08
First Citizens Bancorp
Statutory Trust I December 2003 10 10 December 2033 Variable after 12/17/08
First Citizens Bancorp
Statutory Trust II June 2005 7 7 June 2035 Variable after 06/15/10
Total $3,269 $3,269
(1) These securities are fixed rate through June 12, 2037 and then switch to a floating rate based on LIBOR.
(2) $360 million of this issuance was swapped to a floating rate based on LIBOR. At December 31, 2010, the
effective rate on the swapped portion was 3.67%
(3) These securities are fixed rate through initial maturity and then switch to a floating rate based on LIBOR if
extended.
NOTE 12. Shareholders’ Equity
Common Stock
The authorized common stock of BB&T consists of two billion shares with a $5 par value. There were
694 million and 690 million common shares issued and outstanding at December 31, 2010 and 2009, respectively.
Preferred Stock
The authorized preferred stock of BB&T consists of five million shares. At December 31, 2010 and
December 31, 2009, there were no preferred shares outstanding.
Equity-Based Plans
At December 31, 2010, BB&T 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. BB&T’s shareholders have approved all equity-based compensation plans with the exception of
plans assumed from acquired companies. As of December 31, 2010, the 2004 Plan is the only plan that has shares
available for future grants.
BB&T’s 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 BB&T and its
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