Other Events

BB&T Corporation (“BB&T”) announced today that its bank subsidiary, Branch Banking and Trust Company, has entered into a Consent Order with the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks. The order calls for corrective actions and enhancements to address certain internal control deficiencies within the Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) Compliance Program. No criminal activity has been identified as the result of such deficiencies, and no financial penalty was levied.

BB&T has already taken significant steps towards the improvement of its BSA/AML program, including:

Ÿ additional investment into processes and system upgrades to strengthen anti-money laundering controls;

Ÿ continued emphasis on education, training and the importance of compliance for all associates; and

Ÿ the hiring and placement of a highly experienced BSA/AML professional to oversee these efforts.

BB&T anticipates entering into a similar regulatory order with the Board of Governors of the Federal Reserve System in the near future.