UPDATE 1-BB&T reports higher profit on better credit

* EPS of $0.30 vs. $0.20 year ago

* Results include $38 million of merger-related charges

* Shares closed Thursday at $25.91

CHARLOTTE, N.C., July 22 (BestGrowthStock) – BB&T Corp (BBT.N: )
reported a 74 percent rise in second-quarter net income on
Thursday as the bank’s already low level of credit problems
eased further.

The Winston-Salem, North Carolina-based bank reported net
income of $210 million, or 30 cents per share, up from $121
million, or 20 cents per share, a year earlier.

Excluding $38 million of charges from the 2009 Colonial
Bancorp acquisition, earnings were 33 cents per share.

Analysts projected earnings of 34 cents per share,
according to Thomson Reuters I/B/E/S. It was not immediately
known if the estimate was comparable.

Unlike its regional rivals, BB&T Corp has been one of the
strongest U.S. banks, with relatively few loan losses. It was
one of the first banks to repay its U.S. government bailout aid
last summer.

Shares of BB&T closed Wednesday at $25.91 and were flat for
the first half of the year.

Stock Report

(Reporting by Joe Rauch; Editing by Lisa Von Ahn)

UPDATE 1-BB&T reports higher profit on better credit