Fed Approves BB&T Capital Plan

The Federal Reserve has approved a capital plan that was resubmitted by BB&T Corp. of Winston-Salem, N.C., the regulator said Friday.

BB&T's original capital plan was rejected in March, based on a "qualitative assessment," according to the press release the Fed issued today. It did not specify how the new plan differed from the previous one.

The earlier rejection put a temporary hitch in the $171-billion-asset company's plans to expand, American Banker reported earlier this year. Nevertheless, BB&T's leadership expressed optimism about its ability to carry out future acquisitions.

"I would be surprised if you don't begin to see acquisitions as we head through ’14," BB&T chief executive Kelly King told analysts in July.

BB&T is the 11^th largest residential mortgage originator, according to NMN’s Quarterly Data Report.