(WINSTON-SALEM) -- BB&T reported second quarter net income of $510 million. This compared to net income of $307 million in the second quarter of 2011.

"We are excited to report the strongest net income for any quarter in our history," said Chairman and Chief Executive Officer Kelly S. King. "This record performance reflects a 7% increase in net interest income, a 44% increase in noninterest income, lower credit costs and effective expense control. The net interest margin increased this quarter following the call of our outstanding trust preferred securities.

The Winston-Salem based bank reported second quarter net revenues of $2.5 billion.  The bank credits a big chunk of this 21 percent annualized increase to the acquisition of the insurance divisions of Crump.