BB&T 2012 Annual Report Download - page 28

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 legislative, regulatory or accounting changes, including changes resulting from the adoption and implementation of the
Dodd-Frank Act may adversely affect the businesses in which BB&T is engaged;
 local, state or federal taxing authorities may take tax positions that are adverse to BB&T;
 a reduction may occur in BB&T’ s credit ratings;
 adverse changes may occur in the securities markets;
 competitors of BB&T may have greater financial resources and develop products that enable them to compete more
successfully than BB&T and may be subject to different regulatory standards than BB&T;
 natural or other disasters could have an adverse effect on BB&T in that such events could materially disrupt BB&T’ s
operations or the ability or willingness of BB&T’ s customers to access the financial services BB&T offers;
 costs or difficulties related to the integration of the businesses of BB&T and its merger partners may be greater than
expected;
 expected cost savings or revenue growth associated with completed mergers and acquisitions may not be fully realized or
realized within the expected time frames;
 deposit attrition, customer loss and/or revenue loss following completed mergers and acquisitions may be greater than
expected; and
 cyber-security risks, including “denial of service,” “hacking” and “identity theft,” that could adversely affect our
business and financial performance, or our reputation.
ITEM 1. BUSINESS
BB&T is a financial holding company headquartered in Winston-Salem, North Carolina. BB&T conducts its business
operations primarily through its commercial bank subsidiary, Branch Bank, and other nonbank subsidiaries.
Operating Subsidiaries
The principal operating subsidiaries of BB&T include the following:
 Branch Banking and Trust Company, Winston-Salem, North Carolina
 BB&T Securities, LLC, Richmond, Virginia
 Regional Acceptance Corporation, Greenville, North Carolina
 American Coastal Insurance Company, Davie, Florida
 Sterling Capital Management, LLC, Charlotte, 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 1,832 offices (as of
December 31, 2012). Branch Bank’ s principal operating subsidiaries include:
 BB&T Equipment Finance Corporation, based in Charlotte, North Carolina, which provides loan and lease financing
to commercial and small businesses;
 BB&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, variable-rate and index
annuities, mutual funds, government and municipal bonds, and money market funds;
 BB&T Insurance Services, Inc., headquartered in Raleigh, North Carolina, which offers property and casualty, life,
health, employee benefits, commercial general liability, surety, title and other insurance products through its agency
network;