BB&T Corp. reported third-quarter 2012 net income of $469 million, a 28 percent increase from the same period a year ago.
The company said merger-related charges associated with the July acquisition of Fort Lauderdale, Fla.-based BankAtlantic reduced third-quarter 2012 earnings by $43 million.
Kelly King, BB&T's chairman and chief executive officer, said, "We are pleased to report very strong results for the third quarter. BB&T's performance benefited from a 5.3 percent annualized increase in net interest income compared to the last quarter, a 63 percent increase in mortgage banking income and continued improvement in credit costs."
For the first nine months of 2012, BB&T reported net income of $1.4 billion, a 57 percent increase from the first nine months of 2011.
BB&T Corp. is headquartered in Winston-Salem, N.C. The company has $182 billion in assets and operates 1,850 financial centers in 12 states and Washington, D.C., including 77 in West Virginia. BB&T became the largest bank in West Virginia in 2000 when it bought One Valley Bancorp.