CFCP Coastal Finl Corp Del (MM)

Coastal Financial Corporation (NASDAQ: CFCP) announced today that it will convene a Special Meeting of Shareholders on April 27, 2007 to vote on its proposed merger with BB&T Corporation (NYSE: BBT). Shareholders of record as of the close of business on March 7, 2007 are entitled to vote at the Special Meeting of Shareholders. Proxy solicitation materials, including a proxy statement-prospectus for the Special Meeting of Shareholders, will be mailed on or about March 26, 2007. Subject to receipt of shareholder and regulatory approvals, Coastal Financial Corporation and BB&T Corporation expect to complete the merger in the second calendar quarter of 2007. This news release contains forward-looking statements as defined by federal securities laws. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management of Coastal Financial Corporation and BB&T Corporation. Actual results could differ materially from current projections and estimates. This news release is not an offer to sell or a solicitation of an offer to buy any securities of BB&T Corporation. Such offer and solicitation shall be made only by means of the proxy statement-prospectus for the Special Meeting of Shareholders. The securities of BB&T Corporation are not federally-insured. This news release is not a proxy solicitation by Coastal Financial Corporation. Such solicitation shall be made only by means of the proxy statement-prospectus for the Special Meeting of Shareholders.