BB&T profit rises in 4Q

BB&T Corp. reported $506 million in net income in the fourth quarter, an increase of 29 percent from a year earlier that beat analysts' estimates.

Earnings per share for the quarter were 71 cents, up from 55 cents in the fourth quarter of 2011.

In an earnings announcement, the Winston-Salem, N.C.-based BB&T (NYSE: BBT) said that for the full year 2012 net income totaled a record $1.9 billion, up from $1.3 billion in 2011.

BB&T CEO Kelly King said noninterest income grew 23 percent for the year,…