BB&T income falls - Washington Business Journal:

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The Winston-Salem-based BB&T (NYSE:BBT) saw nonperforming asset and credit losses rise during the but were within the range the bankwas expecting, said CEO Kell King. Nonperforming assets increasedto 1.92 percentf of total assets as of March 31, comparedx to 1.34 percent on Dec. 31. The provisiojn for credit lossestotaled $676 milliobn in the first quarter of up by $453 million from a year “Our overall earnings were relatively strongf given the higher loan losse and additional loan loss and our capital levels and earningss power remain strong,” King said.
BB&T said it is continuin to make use of the moneyh it received from the federal government under the TARP The bank said it madeaboug $1.9 billion in “additional” loans since it sold $3.1 milliomn of preferred shares to the government. BB&r paid $40 million to the U.S. Treasury as dividends on those sharess in the first Kingsaid BB&T’s board boosted dividends to common shareholderw by 2.2 percent for the first quartetr from a year ago, to 47 centas per share. As of March 31, BB& had $143.4 billion in totalo assets.