BB&T
and
Coastal Financial Corporation
Myrtle Beach, South Carolina
Expanding a Great Franchise
Analyst Presentation
December 21, 2006

Forward-Looking Information

BB&T has made forward-looking statements in the accompanying analyst presentation materials that are subject to risks and uncertainties. These statements are based on the beliefs and assumptions of the management of BB&T, and on the information available to management at the time the analyst presentation materials were prepared. In particular, the analyst materials in this report include statements regarding expected cost savings from the merger, estimated merger or restructuring charges, estimated increases in Coastal Financial Corporations fee income ratio, the anticipated accretive effect of the merger, and BB&T's anticipated performance in future periods. With respect to estimated cost savings and merger or restructuring charges, BB&T has made assumptions about, among other things, the extent of operational overlap between BB&T and Coastal Financial Corporation, the amount of general and administrative expense consolidation, costs relating to converting Coastal Financial Corporations bank operations and data processing to BB&T's systems, the size of anticipated reductions in fixed labor costs, the amount of severance expenses, the extent of the charges that may be necessary to align the companies' respective accounting policies, and other costs related to the merger. The realization of cost savings and the amount of merger or restructuring charges are subject to the risk that the foregoing assumptions are inaccurate.

Any statements in the accompanying exhibit regarding the anticipated accretive effect of the merger and BB&T's anticipated performance in future periods are subject to risks relating to, among other things, the following possibilities: (1) expected cost savings from this merger or other previously announced mergers may not be fully realized or realized within the expected time frame; (2) deposit attrition, customer loss or revenue loss following proposed mergers may be greater than expected; (3) competitive pressure among depository and other financial institutions may increase significantly; (4) costs or difficulties related to the integration of the businesses of BB&T and its merger partners, including Coastal Financial Corporation, may be greater than expected; (5) changes in the interest rate environment may reduce margins; (6) general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality, or a reduced demand for credit; (7) legislative or regulatory changes, including changes in accounting standards, may adversely affect the businesses in which BB&T and Coastal Financial Corporation are engaged; (8) adverse changes may occur in the securities markets; and (9) competitors of BB&T and Coastal Financial Corporation may have greater financial resources and develop products that enable such competitors to compete more successfully than BB&T and Coastal Financial Corporation.

BB&T believes these forward-looking statements are reasonable; however, undue reliance should not be placed on such forward-looking statements, which are based on current expectations. Such statements are not guarantees of performance. They involve risks, uncertainties and assumptions. The future results and shareholder value of BB&T following completion of the merger may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results and values are beyond management's ability to control or predict.

Outline

BB&T Corporation (BBT)

Coastal Financial Corporation

Company History

Pro Forma Company Profile

  ^*Based on closing prices as of 12/20/2006.

Terms of the Transaction

Terms of the Transaction

  *Based on BB&Ts closing stock price of $44.27 on 12/20/06.

Pricing*

  *BB&T shares based on Coastal Financials shares outstanding adjusted for stock options using the treasury method.

Acquisition Comparables*

Comparable Acquisitions Announced in the Southeast since January 1, 2004
with Seller Assets over $50 Million

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