Please provide evidence or proof of this claim. Not doubting you, but verification would be nice. Your analysis may miss the mark. Did he get a better offer, is health an issue, or does he want to just go fish? Why should we accept your assumption as gospel?
As for repurchasing stock, the banking industry as a whole does it regularly, especially those who acquire other banks. Deals are done in stock swaps, not cash, and the acquiror repurchases those excess issued shares over time. This is not some devious plot by BB&T management to dupe Wall Street.