BB&T Community DevelopmentEnriching our neighborhoods through community development,

leadership and innovation

B A N K I N G . I N S U R A N C E . I N V E S T M E N T S

From the Director

“Enriching our neighborhoods through community development leadership and innovation.”

Community Development’s vision statement supports BB&T’s corporate philosophy of making our communities

better places to live. BB&T strives to make a difference in the daily lives of individuals within our communities and

also strengthen the overall economic vitality in our neighborhoods. We understand the positive benefits to everyone

when low- and moderate-income individuals have access to a wide range of banking services and the opportunity to

build wealth.

Our vision statement is built on our Community Development team striving for excellence while providing innovative

and customized solutions for each neighborhood. Every community faces different challenges and identifies different

strategies for success. We realize our commitment requires a hands-on approach in determining and responding to

community needs.

BB&T has established a corporate policy to embed this philosophy into a framework for Community Development,

and Community Reinvestment activities. Our proactive pursuit of innovative programs, products and initiatives

will provide important funding, financing and investments for affordable housing, including capacity-building

opportunities for community development corporations and other nonprofit ventures. In addition, our small business

lending programs and technical assistance support economic development to create a bridge to greater prosperity.

The following pages of this brochure describe BB&T’s programs and commitment to providing the best support for

our communities by using outreach efforts to create and develop useful and needed financial products and services.

Sharon Jeffries-Jones

Senior Vice President

Director of CRA/Community Development

Table of ContentsDirector’s Letter ....................................................................... 1

Steering Committees ..............................................................4

Financial Education .................................................................5

Asset Building ...........................................................................6

Capacity Building .....................................................................7

Development Resources ...................................................... 11

Entrepreneurial Programs ....................................................14

Diversity ...................................................................................15

Bank Bus................................................................................... 17

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THE COMMUNITY REINVESTMENT ACT,

enacted by Congress in 1977, is intended

to encourage depository institutions to

help meet the credit needs of communities

in which they serve, including low- and

moderate-income neighborhoods, consistent

with safe and sound banking practices.

Regulatory agencies, such as the Federal

Deposit Insurance Corporation, perform

CRA examinations to ensure depository

institutions’ record of compliance with CRA.

The evaluation is taken into account when

considering an institution’s application for

deposit facilities, including mergers and

acquisitions. The CRA examination follows

a three-pronged weighted approach with a

lending test (50 percent), a service test (25

percent) and an investment test (25 percent).

Putting It Together

Community and economic development

is a dynamic, complex and ever-changing

endeavor. Every community faces different

challenges and chooses different strategies

for revitalization. Urban markets may face

pressures such as rapid population growth

and sky-rocketing land and development

costs, resulting in affordability issues for

low- and moderate-income residents. Rural

communities may face population losses and

the lack of new community investments,

resulting in declining property values and

abandoned properties.

Vibrant communities are comprised of

separate, yet interconnected components.

These components include, but are not limited

to, adequate infrastructure, quality education,

and workforce development, sufficient cultural

and recreational facilities access to health care,

social services and employment opportunities.

Each community has its strengths and

weaknesses, and employs different strategies

to improve the livability of the area.

BB&T understands the complexity of the

community development process and that a

one-size-fits-all approach just doesn’t work.

We firmly believe community development

is a long-term process that is most successful

when the nonprofit, public and private sectors

work collectively to address the unique

challenges each of our communities face.

Nonprofit organizations, such as community

development corporations, play a vital

role in neighborhood revitalization. These

organizations work at the grassroots level

and are often understaffed and insufficiently

resourced to fully execute their missions.

Many of the less-established nonprofits, who

may be learning the development process,

often lack the capacity to develop projects on

their own.

Therefore, BB&T has created a comprehensive

program for community development. The

process we created and the Community

Development Specialists we employ

help connect the various pieces of the

development puzzle. Our puzzle solution

results in new bricks and mortar projects,

nonprofit capacity building, small business

entrepreneurial development, and community

services necessary to support sustainable

neighborhood revitalization.

Community Development

BB&T’s Corporate Commitment

The CRA/Compliance Oversight Committee was created to formulate polices, develop programs

and initiatives, monitor results and take corrective actions. The committee, which is chaired by a

senior executive vice president, includes four members of the Executive Management Team and

representation by all relevant departments.

Alabama

Florida

Georgia

Indiana

Kentucky

Mississippi

North Carolina

South Carolina

Tennessee

Virginia

D.C.

Maryland

WestVirginia

Texas

Community Development Specialists

BB&T is unique in that it employs a staff

of highly trained community development

specialists throughout our footprint. The

specialists serve as liaisons between the

community and the bank to facilitate

community development loans, services

and investment opportunities. They work

with community development corporations,

community based organizations, community

development financial institutions (CDFIs),

nonprofit organizations and for-profit

developers, intermediaries and governmental

agencies in the community to find financial

solutions and help bring capacity that will

stimulate development activities in the local

marketplace. The specialists work effectively

to build partnerships that create affordable

housing and economic development in the

communities we serve.

CRA Regulatory Compliance

The CRA Regulatory Compliance team assists

in shaping the strategic direction of the bank’s

CRA Compliance program. The group provides

regulatory guidance on matters related to the

Community Reinvestment Act. Their primary

function, though, is to monitor the progress and

compliance of the bank’s CRA performance for

each exam cycle. This includes setting goals for

community development lending, investment

and service activities, as well as collecting and

submitting the bank’s small business and farm

lending data.

CRA Investment

The CRA Investment team strives to provide

bank funding in the form of Low-Income

Housing Tax Credits (LIHTC) and Historic

Rehabilitation Tax Credits for affordable housing

projects, including multifamily, single-family

and special-use projects. In addition, we

invest funds for Historic Tax Credits, “Mill” Tax

Credits, bonds, and similar debt obligations to

support project financing; such as the adaptive

reuse of older buildings located in economic

redevelopment areas. Our investments provide

the needed funding for low-to-moderate

income communities to build and revitalize. We

continue to evaluate new strategies for BB&T

to provide funds to improve the lives of those in

our communities.

Community Partnerships

Entrepreneurial Assistance

Capacity Building

Development Resources

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Steering Committees

The formation of Steering Committees in various communities helps bring greater interaction

between community economic development industry leadership and BB&T. These committees

are comprised of a cross-section of public and private professionals, including stakeholders in

the housing and economic development arena. The participants contribute ideas and energy

to the community economic development process. This structure reflects the makeup of the

community and is instrumental in helping our Community Development team define credit

and product needs related to affordable housing, small business enterprises and community

development. The Steering Committees provide an opportunity to build solid, long-lasting and

trusting relationships between BB&T and community economic development practitioners

through an active exchange of ideas and by working closely, as a team, for a common goal.

The committees typically meet quarterly in our newer markets and semiannually in our more

established markets.

LOCATIONS:

Strategic Planning Sessions

Organized and conducted by BB&T through experienced facilitators, these sessions provide

a forum for community economic development organizations, local governmental agencies,

nonprofit and financial intermediaries to discuss the local market’s community economic

development needs. The large, broad-based community meetings have proven to be the best

way to generate the community involvement and support crucial for effective change.

Often the first step in initiating a steering committee, the meetings also have given participants

the chance to share fresh ideas and best practices for addressing important issues and

facilitating new partnerships. In these sessions, BB&T has had the opportunity to articulate

our role in the community and refine our goals for future development. The resulting strategic

plan provides a platform for building an active partnership in the community. Through the

sessions, subcommittees are formed to address the identified issues and concerns of the market.

Subcommittee participants work together with the community development specialist to

implement the components identified in the sessions.

BB&T LEARN AND PLAN

Learn and Plan is BB&T’s online portal for

helpful financial tips, informative articles,

planning calculators and more. We’re sharing

knowledge and providing the tools to help

you become more informed in all areas of

your financial life.

EVERFI

BB&T has partnered with EverFi for web-

based financial education resources. The

BB&T Financial Foundations program began

in 2010 and is an online financial education

curriculum being used in more than 150

high schools throughout North Carolina,

South Carolina, and Alabama. In 2013, BB&T

committed to expand the program to a total

of 1,300 high schools in 11 states.

The BB&T Transit Program also leverages

EverFi’s online platform to provide financial

education in select Historically Black Colleges

and Universities (HBCUs).

FDIC MONEY SMART ALLIANCE

The Federal Deposit Insurance Corporation

(FDIC) developed the “Money Smart”

curriculum to help low- and moderate-

income adults enhance their money

management skills, understand basic financial

services offered by the financial mainstream

and build their financial confidence to use

banking services effectively.

Through the years the FDIC has continued to

expand their financial education resources

in the form of their Money Smart financial

education series. In addition to Money Smart

for Adults, there are now materials available

for working with students from elementary

school to young adults; older adults; and,

most recently, for small business owners

with the release of Money Smart for Small

Businesses. BB&T is a Money Smart Alliance

partner. The Money Smart materials are a

resource used by our BB&T associates and

community partners.

CEMARK

Cemark is just one more of the school and

community-based financial education

curriculums BB&T uses or provides.

Curriculums for students in elementary

school, high school, and college; and for

unbanked adults are in workbook format that

a can be taught as a stand alone lesson or as

a supplement to ongoing financial education.

Community Outreach

COMMITTEE GOALS:

■■ To be a catalyst for community economic

development for the low- and moderate-

income communities within the bank’s

assessment areas.

■■ To provide a forum for community input

into BB&T’s development of programs

and policies that support and encourage

community enrichment.

■■ To serve in the mobilization of resources

to assist BB&T in implementing a plan for

local community economic development.

■■ To be all-inclusive by having a cross-

section of opinion leaders and nonprofit

organizations actively involved in crafting

a local strategy for housing and economic

development.

SESSION GOALS:

Session I: To evaluate and discuss the

market needs related to neighborhood

revitalization, affordable housing, and

economic development, including small

businesses, single-family and multifamily

developments, mortgage financing, down

payment assistance, asset building, and

financial education.

Session II: To develop strategies, goals

and objectives to be implemented in the

assessment area in conjunction with the

formation of subcommittees focusing on

strategic goals identified by participants.

■■ Atlanta, Ga.■■ Baltimore, Md.■■ Charleston, S.C. ■■ Charleston, W. Va.

■■ Charlotte, N.C. ■■ Greenville, S.C.■■ Louisville, Ky.■■ Montgomery, Ala.

■■ Raleigh, N.C.■■ South Fla.■■ Washington, D.C.■■ Winston-Salem, N.C.

Local Spotlight: Cemark’s “How to Do Your Banking”

In 2004, BB&T offered the “How to Do Your Banking” financial literacy program to a number

of high schools in Virginia. BB&T’s Marketing division has since entered into an agreement

designating “How to Do Your Banking” as a resource for high schools throughout the footprint.

It is taught by high school faculty as a supplement to their curriculum. The materials include the

following:

■■ Personal Financial Goals ■ Savings Program■■ Budgeting ■ Checking Accounts■■ Good Credit

If you are interested in BB&T sponsoring “How to Do Your Banking” in your high school,

please contact a BB&T market leader.

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Financial Education

BB&T is strongly committed to increasing financial education. The knowledge, skills and habits needed to manage money successfully at the

personal or family level is critical to making our communities more secure. BB&T’s goal is to become trusted financial advisors by sharing

knowledge with those in the communities we serve. The programs we provide and partner to deliver span from web-based programs to community

partnerships that bring BB&T to your community centers and neighborhood events. Below you will find a few examples of our financial education

programs and initiatives.

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Capacity Building

Asset Building

Asset building coalitions and programs are

critical components in assisting individuals

and families in taking the next step towards

their financial goals. BB&T is proud to

support asset building partners throughout

our footprint with leadership, charitable

support, and financial products.

INDIVIDUAL DEVELOPMENT ACCOUNTS

In partnering with nonprofit organizations

or government agencies, BB&T has made

Individual Development Accounts available in

markets throughout our footprint. Individual

Development Accounts, or IDAs, are matched

savings programs that combine the incentives

of matched savings with goal specific

training. BB&T hosts AFI and non-AFI based

programs with savings goals that include:

■■ Home Ownership■■ Post-Secondary Education■■ Small Business Startup or Expansion■■ Vehicle Purchase

In many programs, BB&T is not just the

financial institution partner. BB&T associates

routinely assist in leading the financial

education, be it our mortgage loan officers

sharing information about the home buying

process or our business lenders providing

guidance on the business credit and

underwriting process.

IDA PARTNER LISTING

■■ Kanawha Institute for Social Research & Action, Inc.

■■ Kentucky Domestic Violence Association■■ Virginia Department of Housing and Community Development

■■ Urban League of Broward County ■■ CommunityWorks Carolina■■ City of Columbia, South Carolina

BB&T Community Development Capacity Building

One of the ways BB&T demonstrates our

continuing commitment to the geographic

markets we serve is through our support

of community development corporations,

community housing development

organizations, community development

financial institutions, and other community

economic development professionals. These

professionals face tremendous challenges

in their efforts to create affordable housing,

community facilities, commercial and

industrial projects and employment in

economically depressed neighborhoods.

Often, our industry colleagues require

additional capacity to fully plan or implement

needed programs. BB&T has created a

comprehensive Capacity Building Program

that surpasses any current offering in the

market and includes housing and economic

development certified training, legal services

and technical assistance.

But we are not done. During our work with

community partners we are constantly

evaluating the need for new capacity building

programs. These programs may be developed

to fill a specific market need or as an addition

to our other footprint-wide series. Through

the Capacity Building Program, BB&T is

helping grassroots nonprofit and public

professionals become leaders in revitalizing

the communities.

NATIONAL DEVELOPMENT COUNCIL

In 1998, the BB&T Community Development

Department formed a partnership with the

National Development Council (NDC) to

build the capacity of community development

corporations and community-based

organizations. NDC is the nation’s oldest, most

experienced nonprofit organization dedicated to

economic development finance and affordable

housing.

Through this partnership, came the

development of the BB&T Capacity Building

Program.

The Capacity Building Program equips

community economic development

professionals with permanent, self-sustaining

skills to successfully fulfill their mission and

meet the needs of their neighborhoods. The

National Development Council’s Housing

Development Finance Professional and

Economic Development Finance Professional

certification programs have been the core

component of the BB&T Capacity Building

Program. During the last 15 years, BB&T

has invested more than $3.8 million in

the program and trained more than 2,200

individuals throughout our footprint.

The main objective of the partnership is to

address the complexities and difficulties

of successfully developing projects that

benefit low- and moderate-income areas and

individuals. This objective is accomplished

through thorough training, moderating and

technical assistance.

Local Spotlight: Kentucky Domestic Violence Association’s Car IDA Program

In 2010, BB&T partnered to hold Individual Development Accounts (IDAs) for the

Kentucky Domestic Violence Association’s (KDVA) Car IDA and Traditional IDA programs.

One of the earlier success stories is Linda Schmidt. At her grown daughter’s urging,

Schmidt left her abusive husband for the last time in November 2009 and moved into

the Women’s Crisis Center – Buffalo Trace in Maysville. She had no car, no job, and her

financial standing was destroyed, a casualty of the economic abuse she endured at the

hands of her abuser. He had controlled all household finances - demanding that she

hand over her paychecks and, unknown to Schmidt, failing to pay bills in both their

names. His ongoing harassment caused her to lose her job.

Schmidt focused on turning her life around, and by March 2010, she was working full-

time at the Eastern Kentucky Power Plant and saving in KDVA’s Car IDA program. Funded

by the Allstate Foundation, the Car IDA matches every dollar a survivor of domestic

abuse saves with another dollar, up to $2,000. While she was saving, Schmidt learned

budgeting and money management skills and started working on improving her credit

score. She also took a class in basic car maintenance.

Schmidt purchased a 2002 Chevy Monte Carlo, and thanks to the flexibility of having

reliable transportation, she was able to move into her own apartment and began

looking for opportunities to help other survivors get back on their feet. That opportunity

came only two months later, when Schmidt began her one-year term serving as an

AmeriCorps member at the Maysville domestic violence program. Now she teaches

financial education classes and works one-on-one with survivors. She uses her own story

to empower them to work toward economic self-sufficiency.

KDVA created its Car IDA program to give survivors a stepping stone to its federally

funded Classic IDA program. Schmidt is an example of how that program is meant

to work. She started saving in a Classic IDA, where her savings (up to $2,000) will be

matched on a 2:1 basis, and plans to purchase her own home within the next three

years. To begin repairing her credit that was damaged during her marriage, Schmidt

will be taking out a KDVA microloan, secured by her IDA savings, and her monthly

payments will be reported to the credit bureaus. Because of her personal experiences

and participation in these programs, the survivors she works with have a powerful role

model. “I am finally living a happy, healthy, and productive life,” she said. “I hope other

survivors see that they can, too.”

Learn more about KDVA at www.kdva.org

Local Spotlight: “The Crossings at Fourth and Preston” developed by Virginia Supportive Housing

Virginia Supportive Housing, a statewide

nonprofit committed to ending the

cycle of homelessness, opened The

Crossings, a mixed income residential

property at Fourth and Preston streets

in Charlottesville in March 2012. The

Crossings, comprised of 60 studio

apartment units provides permanent

housing and support services to 30

formerly homeless adults and offers 30

low-income units for residents from the

Charlottesville/Albemarle County area.

Residents qualify for subsidized housing

in the 30 low-income units if they earn

50 percent or less of the area’s median

income.

The Crossings and Virginia Supportive

Housing were recognized at the

2012 Virginia Governor’s Housing

Conference as the project with the Best

Affordable Housing Energy Conservation

Effort. BB&T participated in multiple

components of the financing structure,

including construction financing, LIHTC

equity investment through the Virginia

Community Development Corp.,

and support of a Federal Home Loan

Bank of Atlanta Affordable Housing

Program grant. In addition to being a

financing provider, a number of Virginia

Supportive Housing’s staff members

have received training through BB&T’s

Capacity Building programs.

Community Outreach

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The National Development Council’s (NDC)

enhanced Housing Development Finance

Professional (HDFP) certification program

is a demanding four-course training series

that focuses on the financing of affordable

housing projects in real communities.

The training is designed to assist the staff

members of organizations involved in

creating and preserving affordable housing.

The HDFP certification program’s curriculum

explores the development process, financial

analysis techniques and the structuring and

negotiating skills needed to successfully

develop and finance affordable single-family

and multifamily housing.

These skills are taught within the context

of case studies based on actual affordable

housing development deals, which

NDC professionals have structured and

implemented, in conjunction with clients,

in urban and rural communities throughout

the country. Housing projects are structured

using a variety of financing programs

COURSE DESCRIPTION:

HD 410: Single-Family Home Ownership Finance■■ Single-Family Housing Development Overview and Process

■■ Financing and Deal Structuring■■ Qualifying Home Buyers■■ Income and Credit Barriers to Home Buyer Qualification

■■ Permanent Mortgage Programs

HD 420: Multifamily Housing ■■ Development Finance■■ Multifamily Development Process■■ Preparing Financial Projections■■ Private Lender Underwriting■■ Appraisals■■ Tax Credits■■ Discounted Cash Flow Analysis■■ Syndication■■ Deal Structuring

HD 422: Computer Spreadsheet Analysis■■ Spreadsheet Basics■■ Single-Family Spreadsheet■■ Multifamily Development Spreadsheets■■ Debt and Equity Investment Vehicles

HD 430: Problem Solving and Deal Structuring■■ Deal Structuring■■ Fees and Reserves■■ Government Regulatory Requirements■■ Final Exam

BB&T’s Capacity Building Program includes professional certification programs, legal services, and technical assistance. For

additional information, please contact your community development specialist.

Eligibility of HDFP and EDFP Training

Candidates must be involved in carrying out affordable housing and economic development activities in their areas. Candidates must complete all four courses and pass the examination administered on the final day of each class to receive certification.

The selection process is on a first-come, first-served basis with only three individuals attending from one organization. Priority is given to nonprofit practitioners located in BB&T service areas.

Economic Development Finance Professional

The National Development Council’s Economic Development Finance Professional Certification Program (EDFP) is a rigorous, four-course training series that explores the skills essential for the successful practice of economic development. The program includes business credit and real estate finance analysis techniques, loan packaging procedures, negotiating and problem-solving skills and deal structuring techniques.

Participants build the capacity to translate opportunities into results for their communities. The EDFP Certification Program is appropriate for staff of nonprofit organizations, state and local governments and other economic development entities.

COURSE DESCRIPTION:

ED 101: Economic Development Finance ■■ Economic Development Finance Overview ■■ Business Credit Analysis■■ Fixed Asset Financing■■ Real Estate Financing■■ Economic Development Finance Programs

ED 201: Business Credit Analysis■■ Credit Analysis Process■■ Permanent Working Capital Analysis■■ Cash Flow Analysis■■ Projection and Deal Structuring

ED 202: Real Estate Finance ■■ Real Estate Financing Process and Return on Investment

■■ Appraisals■■ Impact of Taxes on Real Estate Ownership

ED 300: The Art of Deal Structuring■■ Problem Solving■■ Deal Structuring■■ Workouts and Buyouts Syndications■■ Final Exam

Housing Development Finance Professional

Capacity Building

Legal Services

BB&T and Duke Law School - Community Enterprise Clinic have partnered together to educate community development practitioners on legal

matters. This partnership provides a comprehensive legal capacity building program to mature, high-performing community development

corporations and other similar nonprofits throughout the BB&T footprint.

The clinic, staffed by law students and faculty, operates as a small, public interest law firm. The clinic meets community needs by providing pro

bono legal services to nonprofit community development organizations working to revitalize low-income and minority communities. The clinic has

particular expertise in affordable housing and community development law, as well as the law of nonprofit organizations.

The clinic’s commitment to BB&T clients includes the following:

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DIRECT LEGAL SERVICES:*

■■ General Corporate and Tax Compliance■■ Drafting and Negotiating Contracts and Other Agreements■■ Structuring, Negotiating and Closing Financing Transactions including those that use the Low-Income Housing Tax Credits, the Historic Rehabilitation Tax Credits and the New Market Tax Credits

TRAINING:

■■ Effective Nonprofit Corporate Governance■■ Legal Risks for Nonprofit Developers in Joint Ventures■■ Capitalizing on Social Enterprise

*The information provided by the clinic through this partnership is not intended as, and it should not be construed to be, legal

advice or a substitute for the services of a lawyer. All legal information provided to BB&T’s customers through this partnership is

provided by the clinic and not by BB&T.

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Capacity Building

STRATEGIC PLANNING AND PROGRAM DEVELOPMENT

■■ Strategic Planning for Program Development /Expansion

■■ Internal Training

PREDEVELOPMENT

■■ Forming Project Plans■■ Analyzing Project Budget to Identify Cost Saving Opportunities

■■ Identifying Understated Project Costs to Prevent Overruns

■■ Recommending Modifications to the Budget, Financial Structure and Terms of the Financial Commitment to Enhance Project Viability

■■ Developing the Financial Package for Submission to BB&T and Public Sources of Funding for Financing

FINANCING

■■ Negotiating with BB&T and Public Sources of Funding to Achieve the Desired Structure

■■ Confirming Financial Commitments from Lenders and Investors

■■ Reviewing Terms and Conditions of Lenders and Investors

■■ Finding Equity Investors to Purchase Tax Credits or become Partners in Ownership

■■ Servicing Loans

CONSTRUCTION

■■ Working with Developers■■ Managing Construction and Improvements■■ Negotiating Construction Contracts

MANAGEMENT

■■ Identifying Potential Tenants■■ Handling Marketing and Pre-Leasing■■ Negotiating Leases■■ Selecting and Retaining a Management Firm

■■ Managing Assets

Technical Assistance

Applying the financial analysis, underwriting and deal-structuring skills learned in BB&T’s

Capacity Building Program to the real world is not an automatic process. Many community

development practitioners initially lack the expertise needed to analyze and provide feedback

to potential lenders or to underwrite and successfully structure financing packages. Recognizing

this need, BB&T has further increased its support by providing on-site technical assistance

through BB&T’s partnership with private consultant experts, including NDC and Duke Law

School - Community Enterprise Clinic

Reinforcing all that has been learned in the classroom, the hands-on, project-based technical

assistance strengthens a community development professional’s capacity. The service bridges

the gap between the classroom and the neighborhood, helping turn ideas and dreams into solid

realities. With this service, many professionals have become skilled in a wide range of practices

in the areas of predevelopment, financing, construction and management.

Development Resources

Affordable Housing for Homeownership

Homeownership is the ultimate method

of wealth creation. BB&T is committed

to helping low- and moderate-income

individuals and families reach this attainable

and realistic goal.

BB&T demonstrates this commitment

to homeownership by employing a staff

of highly trained community mortgage

specialists (CMS). The CMS serves as a

mortgage loan officer whose primary focus

is lending to low- to moderate-income

borrowers through BB&T’s affordable

products and services. The CMS assists

first-time homebuyers through the process

of homeownership, which may include

credit counseling and first-time homebuyer

workshops.

BB&T’S SINGLE-FAMILY AND HOMEOWNERSHIP PRODUCT OFFERINGS

For Individuals and Families:■■ Community Homeownership Incentive Program (CHIP)

■■ Federal Housing Administration (FHA)■■ Veteran Affairs (VA)■■ Guaranteed Rural Housing Loan Program■■ Freddie Mac Loan Programs■■ FHLB of Atlanta First Time Homebuyer Program (FHP)

■■ Downpayment Assistance Programs

The programs feature both maximum income

and maximum mortgage limitations. These

loans are for owner-occupied properties

only. Due to the unique nature of the CMS,

this service is only available in certain cities.

Please contact a local financial center for

more information on homeownership.

BB&T also participates in a variety of city,

county and state mortgage programs, which

vary by geographic location. These programs

include USDA, Section 8 Homeownership and

state bond programs

*CHIP loans may be made up to 97-100

percent of the lower of the appraised value

or sales price, depending on the market.

CHIP addresses the major impediments to

homeownership: funds accumulated for

downpayment and closing costs. Funds

accumulation is softened by a greater leniency

in allowing gifts, community and government

grants and loans. Income cannot exceed

80 percent of your county median income.

Percentages are subject to change. Please

contact local office for details.

For Developers:■■ Construction Loans ■■ Renovation Loans■■ Bridge Loans ■■ Rehabilitation Loans■■ Permanent Loans ■■ FHLBank Atlanta – AHP

To learn more about developing

affordable housing, please contact a BB&T

community development specialist.

Federal Home Loan Bank of Atlanta

AFFORDABLE HOUSING PROGRAM (AHP) GRANTS

The AHP is a flexible source of funding

designed to help our member financial

institutions and their community partners

develop affordable owner-occupied and

rental housing for very low- to moderate-

income families and individuals.

Each year the FHLB of Atlanta commits

10 percent of its annual net income to

developing affordable housing. The AHP

Competitive is designed for nonprofit

or for-profit housing developers, public

entities, contractors, community builders,

and other nonprofit and for-profit

corporations and organizations engaged in

housing construction, rehabilitation, and

development, either ownership or rental.

These organizations (called project sponsors)

partner with member financial institutions

to seek the competitive subsidy funding or

low-cost loans.

In the last decade, BB&T has supported more

than 550 applications from project sponsors for

the AHP Competitive program. Two hundred

seven of those projects have been awarded

almost $72 million to help construct or

rehabilitate homeownership and rental units.

There is one competitive application round

per year for the AHP Competitive. Applicants

are encouraged to leverage their awards with

other funding sources, including conventional

loans, government-subsidized financing, tax-

credit equity, foundation grants, and bond

financing.

DOWNPAYMENT ASSISTANCE

BB&T receives up to $1 million annually

(depending upon FHLBank Atlanta

availability) in First-Time Homebuyer

Program funds from the FHLBank Atlanta.

The FHP grant allows BB&T to provide up

to $5,000 in down payment assistance to

eligible families. These funds may only be

used in FHLBank Atlanta’s district, which

includes North Carolina, South Carolina ,

Virginia, Maryland, Georgia, Florida, Alabama

and the District of Columbia.

Affordable Multifamily Housing

FLEXIBLE CONSTRUCTION AND PERMANENT LOAN PRODUCTS

BB&T has the capacity to serve your

Low-Income Housing Tax Credit (LIHTC)

financial needs. We have very competitive

construction and permanent mortgage

financing available. BB&T and our affiliate,

Grandbridge Real Estate Capital, both

participate in LIHTC projects as well as for

both rental developments and commercial

ventures. Most are underwritten to meet

Freddie Mac and/or Fannie Mae guidelines,

We have the ability to provide attractive

terms and non-recourse permanent financing

to creditworthy projects.

LOW-INCOME HOUSING TAX CREDIT INVESTMENTS

BB&T primarily uses nonprofit tax credit

syndicators, including Community Affordable

Housing Equity Corporation (CAHEC)

and Virginia Community Development

Corporation (VCDC), to place our LIHTC

and Historic Rehabilitation Tax Credit

investments. Other approved, non- profit

syndicators include Enterprise Social

Investment Corporation, National Equity

Fund and the National Development Council.

To date, BB&T has invested more than a

billion dollars in a multitude of LIHTC &

HRTC projects throughout our footprint.

Grandbridge Real Estate Capital

Grandbridge provides the vital link between

complex market conditions, capital solutions

and clients. As a national full-service leader

in commercial and multifamily finance, we

combine our wide range of capital sources

with a knowledgeable and experienced team

to deliver results, deal after deal.

Based in Charlotte, North Carolina, Grandbridge

arranges permanent commercial and

multifamily real estate loans; services loan

portfolios; and provides asset and portfolio

management as well as real estate brokerage

services on a national basis. The company has

a broad capital provider base that includes

insurance companies, CMBS lenders, pension

fund advisors, and commercial banks as well

as a proprietary lending platform.

Grandbridge is a Fannie Mae DUS®

(Delegated Underwriting and Servicing)

lender, a Freddie Mac Program Plus® Seller/

Servicer and an active participant in FHA-

insured loan products as a MAP-approved

multifamily lender and a LEAN-approved

health care lender.

Grandbridge is an S&P “Above Average” rated

servicer, with a current servicing portfolio of

almost $30 billion, representing 100 capital

providers.

The company operates loan origination

offices in 25 cities throughout the country.

Corporate Community Partners

Examples include:

TAX CREDIT SYNDICATORS

■■ Boston Capital

■■ Community Affordable Housing Equity Corporation (CAHEC)

■■ Enterprise Social Investment Corporation (ESIC)

■■ NDC Corporate Equity Fund

■■ National Equity Fund (LISC)

■■ RBC Apollo

■■ Raymond James Tax Credit Funds

■■ Red Stone Equity Partners

■■ Virginia Community Development Corp.

■■ Boston Financial

■■ Centerline Financial

■■ Ohio Capital

■■ PNC Multifamily Capital

■■ Related Capital

■■ The Richman Group

■■ Stratford Capital

COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS

■■ Community Affordable Housing Equity Corporation (CAHEC)

■■ Community Ventures Corporation

■■ Enterprise Community Partners

■■ FAHE

■■ Local Initiatives Support Collaborative (LISC)

■■ Low Country Housing Trust

■■ Mountain Association for Community Economic Development (MACED)

■■ National Development Council

■■ Natural Capital Investment Fund

■■ Self-Help Credit Union

■■ Virginia Community Capital

Economic Development

Economic development is required

to improve our neighborhoods and

communities. BB&T emphasizes this

importance with a host of products aimed at

making the redevelopment and growth of our

communities an achievable reality. At BB&T,

the community’s well-being and long-term

viability is our top priority.

BB&T’S ECONOMIC DEVELOPMENT PRODUCT OFFERINGS:

Real Estate Development

■■ Construction/Bridge/Permanent Loans

■■ Bond Issues

■■ Renovation/Rehabilitation Loans

■■ Capital Markets/Mezzanine Financing

■■ Historic Rehabilitation Tax Credit Investments

Small Business

■■ SBA 504, 7(a), Express

■■ State Small Business Loan Programs, including Capital Access Programs

■■ BB&T Capital Partners SBIC Investments

■■ Micro-Enterprise Loan Partnerships

■■ Small Business Training Partnerships

Development Resources

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Historic Wilkesboro School

This wonderful 1937 Works Progress Administration frame and brick

school building, one block off Main Street in Historic Downtown

Wilkesboro, has been transformed into 41 Energy Star affordable

apartments with amenities for seniors and persons with disabilities. BB&T

participated in the debt financing, equity investment through CAHEC,

and assisted as the member bank in the receipt of a Federal Home Loan

Bank of Atlanta Affordable Housing Program grant.

Central Union Mission, a men’s

emergency shelter and the oldest

social service agency in the District

of Columbia, broke ground on the

historic Gales School property May 7,

2012. (Above: Before construction and

a rendering of the restored facility.)

Once completed, the renovation will

include a full-scale kitchen and pantry;

transitional and residential suites, day

rooms, an exercise room, and space

to provide health and legal services,

literacy education and GED prep, and

job skills training. BB&T provided

construction financing and supported

a successful application for a Federal

Home Loan Bank of Atlanta Affordable

Housing Program grant.

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M/WBE Support

Our commitment to Minority and Women-

Owned Business Enterprises (M/WBE) does

not stop with Supplier Diversity. BB&T actively

engages community partners and small

business assistance organizations to support

the development of M/WBE, including:

■■ Small Business Financial Education and Credit Counseling

■■ Funding and Resources for Small Business Development Centers (SBDCs) and Women’s Business Centers

■■ Support of educational and networking opportunities to connect M/WBE to business opportunities

■■ Financing through BB&T or CDFI and Loan Fund partners

Supplier Diversity

The BB&T Supplier Diversity program is

designed to provide opportunities for

M/WBE to participate in the BB&T vendor

selection process. The BB&T Supplier Diversity

coordinator is responsible for ensuring

qualified M/WBEs are identified and included

in this process. To support this process, BB&T

participates in local, regional and national

trade shows and conferences that support

and/or sponsor M/WBE initiatives to identify

potential M/WBE vendors for upcoming

sourcing events.

BB&T also has a policy of promoting the

use of M/WBEs to its primary vendors as

subcontractors when direct M/WBE spending

is not an option. BB&T has incorporated this

policy into standard vendor contract language

and requires this Tier 2 spend to be reported

to BB&T on a quarterly basis. BB&T also

tracks and monitors M/WBE spend at both the

primary and Tier 2 levels to gauge the success

of our Supplier Diversity program.

Diversity at BB&T

BB&T is committed to doing business in

a way that clearly demonstrates to all of

our stakeholders we respect and value the

relationship they have with us.

We understand a critical factor in the

continued success of these relationships and

ultimately our business is a true commitment

to diversity and inclusion.

It is a business imperative that the diversity

of our workforce and our board of directors

reflects the demographics of our clients,

communities, and shareholders.

BB&T’s enduring commitment to a diverse

and inclusive environment starts at the top of

our organization and affects the decisions we

make each day.

Our commitment to diversity and

inclusion:

■■ Helps us create innovative products and provide superior client service

■■ Strengthens our ability to attract and retain associates with different backgrounds, experiences, ideas, and skills and advance their careers

■■ Supports the economic growth of our communities through outreach efforts

■■ Fosters strong partnerships with diverse suppliers and business owners

■■ Positively affects business revenues with increased sales, profits and greater returns for our shareholders

As a company and a culture, BB&T has

embraced diversity and inclusion as a

compelling growth strategy in our markets, in

our boardroom and in the workplace.*

Entrepreneurial Resources

Cash Reigns Supreme

Another component of BB&T’s partnership

with the National Development Council is this

training for small business owners. The Cash

Reigns Supreme seminar provides practical,

hands-on training on the topics of budgets,

balance sheets, profit and loss statements,

and cash flow statements. This seminar

gives business owners specific and practical

information to apply to their company’s daily

operations.

Cash Reigns Supreme is open to all businesses

of any size or industry. No financial

background or training is necessary nor is

the need to bring your accountant. In fact,

the seminar teaches you how to talk to

your accountant, and how to pick the right

accountant and/or banker for your company.

Local Partnerships

BB&T recognizes that local agencies often

have identified the small business counseling

and assistance needs. In a number of markets,

BB&T strives to partner with these agencies

to support and enhance the programming

they have available.

In several markets, BB&T works with local

agencies to strengthen the agency’s training

capacity to start or expand micro- and small

business counseling and assistance.

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Local Spotlight: MACED

BB&T has formed a partnership with the Mountain Association for Community Economic Development (MACED) to increase entrepreneurial activity through the Capacity Building for Entrepreneurial Development in Eastern Kentucky Initiative. The initiative is an innovative, multi-pronged approach in Appalachia, and it demonstrates BB&T’s responsiveness to the needs and concerns of the communities it serves.

MACED received two community development grants from BB&T, which allowed the organization to bring the FastTrac Growth Ventures program to area entrepreneurs. Thirteen business owners recently graduated from the course that teaches business owners proven processes and strategies for growing their enterprises and improving their business’s performance. The course helps entrepreneurs strengthen critical insight skills, which improves their ability to assess current business situations and find opportunities for growth.

“Entrepreneurs stay so busy with their business that they have a difficult time connecting with other business owners. So when they

need help growing their businesses, they need to meet with other entrepreneurs to bounce ideas off of and know they are not the only ones struggling,” MACED Enterprise Development Director Paul Wright said.

Offered in partnership with Kentucky Highlands Innovation Center and the Southeast Kentucky Economic Development Corporation, the course provides an opportunity to work one-on-one with entrepreneurs at any stage of their business’s growth.

Entrepreneurs who participate in the course consider what they learn to be invaluable in growing their businesses. The Growth Ventures course helped Donovan Wadsworth realize he had all the skills necessary to move his business forward, he just had to find ways to tap into them. Wadsworth is president and CEO of D&M Contracting.

“One of the best experiences out of the whole thing was feeding my entrepreneurial mindset and thought process as it relates to running a business,” Wadsworth said.

He said meeting the course instructor, Kentucky Highlands Innovation Center Director Bill Shutters, was invaluable because

Shutters’ experience and understanding about entrepreneurship provided great insight. Overall, Wadsworth said the course was a wonderful and important experience for him, providing information and learning opportunities that will help his business grow.

“I love to learn, and I’m always asking questions and trying to do things better,” Wadsworth said. “As my own philosophy about business changes, I realize I have a lot to learn about running a business instead of it running me, and that all comes from continuing education.”

After the Growth Ventures class ended, Wadsworth reached out to MACED to “keep the momentum going.” He plans to host a meeting at his office about strategic planning for his business and said the skills he learned during the Growth Ventures class will eventually become a catalyst to find needed capital once his strategic plan is in place.

“The Growth Venture class will be a stepping stone in my entrepreneurial career,” Wadsworth said.

Local Spotlight: Community Based Financial Education Partnerships

Goler Memorial A.M.E. Zion Church,

and its affiliated CDC, is a long-time

partner and client of BB&T. In 2012,

BB&T Community Development

Director Sharon Jeffries-Jones and

the church leadership identified an

opportunity to work together to assist

the community. The church leadership

was interested in offering a series of

financial education workshops for the

congregation, and BB&T was ready to

meet the need.

After a series of meetings to determine

the focus and goal for the classes, local

BB&T associates decided to involve

another community partner, Financial

Pathways of the Piedmont. Formerly

known as Consumer Credit Counseling

Service of Forsyth County, Financial

Pathways of the Piedmont has a long

history of consumer counseling on

basic financial issues; credit reports and

credit rebuilding; and home ownership.

A series was designed with three

workshops, each covering a different

component of household financial

health. Topics included budgets and

budgeting; tips for saving; credit and

debt; and the BB&T products available

to assist along the way. Despite the

poor winter weather, the classroom

was full for each session. The program

was so successful BB&T and Financial

Pathways of the Piedmont are

now planning future sessions with

other faith-based institutions and

community organizations around

Winston-Salem, N.C.

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MULTICULTURAL BANKING CENTERS

To help welcome the multicultural community and demonstrate our loyalty to multicultural

clients, BB&T launched a corporate-wide marketing effort. This effort included establishing

Multicultural Banking Centers to serve the special needs of this community, as well as a series of

outreach and education efforts.

Included in these efforts was establishing a Spanish language version of Phone24, our client

service support line, 1-800-BankBBT (1-800-226-5228), and hiring Spanish-speaking client

support representatives to ensure personal service for all our clients. We have also added a

Spanish-language website (es.BBT.com).

ENVÍOFÁCIL

EnvíoFácil, or EasySend, allows clients to transfer money home by visiting one of BB&T’s

Multicultural Banking Centers.

EnvíoFácil allows clients to open an account with cash. If they already have a BB&T account, they

can transfer funds directly into an EnvíoFácil account. Once the account is set up, the client mails

their family a packet with the EnvíoFácil card and instructions on how to retrieve cash from an

ATM. Each card is assigned a PIN that allows the EnvíoFácil card to work similarly to an ATM card.

HISTORICALLY BLACK COLLEGES AND UNIVERSITIES (HBCU)

Support of our educational institutions is a key component of BB&T’s community commitment.

BB&T is a partner to Historically Black Colleges and Universities throughout the Mid-Atlantic

and Southeast.

Our capacity-building work for community development professionals extends to our HBCU

partners through BB&T’s support of the HBCU Community Development Action Coalition

partnership with NeighborWorks America. The partnership’s goals include providing focused

training and technical assistance; facilitating peer-to-peer arrangements between the HBCU

CDCs and NeighborWorks affiliates; and promoting joint ventures or mentor relationships.

In 2010, the EverFi Buttonwood Program began with select HBCUs in Alabama. Buttonwood, now

called Transit, is the college-level version of EverFi and with support from BB&T is available to

students for financial education at the partnering schools. In 2013, BB&T and EverFi expanded the

program to include additional schools throughout BB&T’s footprint.

BB&T WELCOMES NEW DACA CARD HOLDERS. LET US HELP YOU FULFILL YOUR DREAMS.

For more than 140 years, BB&T has lived by a set of enduring values that have stood the test of time, contributing to the record of soundness and

stability that earns our clients’ confidence. At their core, our values are about fostering relationships built on trust and respect for all individuals.

We celebrate the young men and women from a wide variety of countries and cultures who have made our community their home. The new

Deferred Action for Childhood Arrivals (DACA) legislation and U.S. Employment Authorization Card create new opportunities for these individuals

to take advantage of all our community has to offer. Whether you need a new checking account, a plan to save for college, or information about

how to become a homeowner, we look forward to sharing our insights with you.

At BB&T, we are committed to sharing knowledge in ways that help families and businesses succeed and communities grow stronger. We invite you

to learn how we can help you move forward in a brighter direction.

BB&T Bank Bus

BB&T’s Bank Bus brings financial education to where our clients work, live, learn, play and pray. During the school year, the bus can be found on

high school and college campuses, where BB&T bankers help with checking and savings accounts and web-based financial education programs

in English and Spanish. The Bank Bus is a full-size commercial bus retrofitted as a self-contained, mobile marketing, production and educational

center with computer workstations, printers, two-way Internet connectivity, a generator ATMs, and classroom furnishings. The Bank Bus serves as a

community resource center conducive to providing financial education and lending information. When the bus is not on school campuses, it can be

found at community events and fairs, at large employers, and even assisting in disaster areas.

EITC / VITA Coalitions

Earned Income Tax Credit (EITC) and Volunteer Income Tax Assistance (VITA) Coalitions are supported by BB&T with associate’s serving in

leadership roles for the coalitions; support for the coalitions’ activities; and bank resources, such as the Bank Bus. Between January and April, the

Bank Bus is on the road for community volunteers to use to offer free, bilingual tax-preparation services at churches and community centers in low-

and moderate-income areas throughout BB&T’s banking franchise

Community Outreach

BB&T-Vecino Outreach

Making a clear statement that BB&T is

committed to helping multicultural clients,

the bank has launched the BB&T-Vecino

outreach. It’s hard to imagine a scenario

with greater possibilities for BB&T and our

potential clients. For the bank, this group

represents a strong and largely untapped

business opportunity. For the multicultural

client, BB&T represents the chance to

establish a long-term financial relationship

that can help them achieve success in this

country. Nothing could better match the

BB&T mission of making our communities

better places for everyone.

For more information, please visit es.BBT.com.

Credit products are subject to credit approval. Only deposit products are FDIC insured. Branch Banking and Trust Company, Member FDIC and an Equal Housing Lender. © 2014, Branch Banking and Trust Company. All rights reserved. BBT.com

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