BB&T Corp. reported its second-quarter net income dropped nearly 7 percent, but its insurance brokerage arm grew nearly 4 percent despite the pressures of falling prices

As a whole, for the second quarter Winston-Salem, N.C.-based BB&T reported net income dropped by $30 million, to $428 million. This translated into a 5 cent decline in earning per share to 78 cents a share. The results beat analyst's consensus estimates on earnings per share of 68 cents a share.

BB&T said income from insurance operations increased 3.5 percent to a record $237 million during the second quarter of this year compared to $229 million for the same period last year.

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