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BB&T HOLDS ANNUAL MEETING IN CHARLOTTE; BOARD DECLARES DIVIDEND

 BB&T HOLDS ANNUAL MEETING IN CHARLOTTE; BOARD DECLARES DIVIDEND
 CHARLOTTE, N.C., April 28 /PRNewswire/ -- BB&T Financial Corporation (NASDAQ-NMS: BBTF) held its Annual Meeting of shareholders today at the Radisson Plaza Hotel in Charlotte, North Carolina, the first time the meeting had ever been held outside of BB&T's home office in Wilson. The change in location was made to make it more convenient for BB&T shareholders in the western part of North Carolina and South Carolina.
 John Allison, chairman and chief executive officer, told the shareholders that BB&T has sustained a performance which is among the best in the banking industry during times of economic recession. Allison attributed BB&T's success to a commitment to quality customer service, a long-term adherence to high credit standards and a strong capital base. "These are the basic, underlying attributes of a strong banking organization," Allison said. "By sticking to these basics, we have achieved nine consecutive years of record earnings and we will continue to be successful in the future."
 The shareholders approved the election of 25 directors to one-year terms and authorized the Board of Directors to acquire up to 1.5 million shares of BB&T Financial Corporation common stock. The shareholders also approved a special purpose option and restricted stock plan designed primarily to include employees and directors of savings associations acquired by BB&T; and adopted a non-employee directors stock option plan permitting non-employee directors to receive stock options in lieu of their annual retainer fees. The shareholders approved reserving 1 million shares of BB&T's common stock for use under the special purpose option plan and 250,000 shares for the non-employee directors stock option plan. Finally, the shareholders ratified the selection of KPMG Peat Marwick as independent auditors for 1992.
 In a separate meeting Tuesday, the Board of Directors declared a regular quarterly dividend of $.22 per share. This dividend will be paid on June 15 to shareholders of record June 1. Approximately 25.6 million shares of BB&T Financial Corporation common stock are outstanding.
 BB&T is the parent holding company of Branch Banking and Trust Company and Branch Banking and Trust Company of South Carolina. Through its subsidiary banks, BB&T operates 218 offices in 117 communities in North and South Carolina. On March 31, the consolidated assets of BB&T totalled $6.5 billion.
 -0- 4/28/92
 /CONTACT: B. Gloyden Stewart, Jr., Senior Vice President, Investor Relations, 919-399-4219, or Scott E. Reed, Senior Executive Vice President & Treasurer, 919-399-4418, both of BB&T Financial Corporation/
 (BBTF) CO: BB&T Financial Corporation ST: North Carolina IN: FIN SU: DIV


DF -- CH009 -- 3944 04/28/92 15:24 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
Words:449
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