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BRIEF-BB&T announces early termination of FDIC loss share agreements

Sept 15 BB&T Corp

* BB&T announces early termination of FDIC loss share agreements

* BB&T Corp says under terms of agreement, Branch Bank will make a cash payment of $230 million

* BB&T will recognize pre-tax expense of approximately $20 million this quarter

* As a result of settlement, BB&T will recognize pre-tax expense of approximately $20 million this quarter

* BB&T retains ownership of related loans, securities and other assets

* Early termination eliminates assets and liabilities associated with indemnification, a net liability of about $210 million at June 30

* BB&T Corp says under terms of agreement, FDIC will no longer share in future benefits related to these assets

* There will be a positive impact to future earnings related to elimination of FDIC amortization expense Source text for Eikon: Further company coverage:

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