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BB&T posts $194 million in fourth quarter net income

BB&T, which became the fifth largest bank in Florida through its acquisition of troubled Colonial Bank, said Friday its fourth quarter net income fell 37 percent as it sharply increased its provision for loan losses. The North Carolina bank posted net income of $194 million, or 27 cents a share, down from $307 million, or 51 cents a share, in the year-ago period. BB&T said it's on track to complete the Colonial integration before the end of June. Shares in the regional bank fell 3.2 percent Friday to close at $28.15.

BB&T posts $194 million in fourth quarter net income 01/22/10 [Last modified: Friday, January 22, 2010 6:21pm]
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