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BB&T net income up 12 percent in 4Q

BB&T Corp. said today it had fourth-quarter 2010 net income of $208 million, or 30 cents per share, up 12 percent from $185 million, or 27 cents per share, during the fourth quarter of 2009.

The Winston-Salem-based company, which has banks in the Charlotte area, also said revenue hit a record $9.4 billion in 2010, an increase of 5.8 percent from the previous year.

CEO Kelly King said the company is trying to dispose of problematic assets and sold about $600 million in such assets in the fourth quarter.

The company extended $20.9 billion in credit during the fourth quarter, an increase of 54 percent on an annualized basis compared with the third quarter, Kelly said, adding that the bank has plans to hire several hundred people in 2011.

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