It appears that the N.C. Office of the Commissioner of Banks (NCCOB)
oversees the following banks
The Bank had $5.0 million in borrowings
from the Federal Reserve Bank (“FRB”) at December 31, 2008.
This borrowing was a 28-day Term Auction Facility loan
at an interest rate of 0.28% which matured in January 2009.
The FRB borrowings are collateralized by a blanket assignment
on all qualifying loans that the Bank owns
which are not pledged to the FHLB.
At December 31, 2008, the carrying value of loans pledged as collateral to the FRB
totaled approximately $280.8 million.
The Bank also had the ability to borrow up to $38.0 million
for the purchase of overnight federal funds
from four correspondent financial institutions as of December 31, 2008.
PEBK 10-K 12/31/2008
What will Ray Grace,
What other North Carolina banks reported what?
I, Kelly S. King, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of BB&T Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact
necessary to make the statements made,
in light of the circumstances under which such statements were made,
not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements,
and other financial information included in this report,
fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for,
the periods presented in this report;
5. The registrant’s other certifying officer(s) and I have disclosed,
based on our most recent evaluation of internal control over financial reporting,
to the registrant's auditors and the audit committee of the registrant's board of directors
(or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant's ability
to record, process, summarize and report financial information; and
b) Any fraud, whether or not material,
that involves management or other employees
who have a significant role in the registrant's internal control over financial reporting.
Date: May 8, 2009
Kelly S. King
President and Chief Executive Officer
and Results of Operations
The accounting and reporting policies of BB&T Corporation and its subsidiaries
are in accordance with ...reporting guidelines prescribed by bank regulatory authorities.
BB&T’s underlying business continued to perform reasonably well
during the first quarter of 2009...
...Other items disclosed in BB&T’s Annual Report on Form 10-K
for the year ended December 31, 2008
have not materially changed since that report was filed.
...The SCAP assessment for BB&T indicated