BB&T Again Ranked Nation's No. 1 Small Business-Friendly Financial Holding Company

WINSTON-SALEM, NC – For the fifth time in the past seven years, BB&T Corporation (NYSE: BBT) is the top ranked “small business-friendly” financial holding company in the country, according to a recently released report by the U.S. Small Business Administration’s Office of Advocacy.

The “Small Business and Micro Business Lending in the U.S.” report for 2002-2003 ranks the 67 largest commercial banks and financial holding companies (more than $10 billion in assets) from which small businesses were most successful in obtaining loans.

The Small Business Administration broadened the criteria for this year’s report to include credit card lending from companies such as American Express Centurion, which was ranked No. 1 among all financial institutions. BB&T was ranked No. 2 overall.

“This prestigious honor is due to our strong credit culture, local decision-making and our ongoing commitment to education,” said Ray Barnes, BB&T’s Small Business Banking manager. “Our reliable lenders are responsive and empathetic to the financial needs of small businesses and their owners.

“Our lenders are also empowered with everything they need to help our small business clients achieve their financial goals. We’re unique in that even though we’ve grown into a large financial services company, small businesses know they’ll deal directly with the person making the decision on their loans at BB&T.”

The SBA’s annual ranking is an important measure of how well banks are meeting the credit needs of small firms. It helps small businesses shop efficiently for credit and it helps banks monitor competition in their markets.

The SBA defines small business loans as commercial and industrial loans and commercial mortgages of less than $1 million.

The criteria used to rank banks on their small business lending from June 2002-June 2003 are: The ratio of small business loans to total assets; the ratio of small business loans to total business loans; the dollar value of small business loans; and the total number of small business loans.

BB&T’s ranking is based on June 2003 “call report” data. The Federal Deposit Insurance Corporation Act of 1991 requires financial institutions to state the number and dollar value of business loans each year in their June call reports to regulating agencies.

BB&T also was named the nation’s No. 1 “small business-friendly” financial holding company for 2001-2002, 1999-2000, 1998-1999 and 1996-1997. It was ranked second for 2000-2001 and 1997-1998.

The SBA report also included a ranking of the largest financial companies from which small businesses were most successful in obtaining “Micro Business” loans (broadly defined as loans for less than $100,000, but are often credit card loans for much lesser amounts). Based on call report data, BB&T Corporation is listed at No. 5 in the nation overall in the Micro Business category (No. 3 among financial holding companies).

According to the study, small business lending across the country increased 2.3 percent between June 2002 and June 2003, compared with an increase of 5.1 percent between June 2001 and June 2002.

The SBA’s Office of Advocacy examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress and the president. More information about the report is available at http://www.sba.gov.

Under the Gramm-Leach-Bliley Act, financial institutions designated as “financial holding companies” are allowed to provide a broader range of financial products and services. BB&T received approval from the Federal Reserve to convert from a bank holding company to a financial holding company in 2000.