With the Southeastern US slipping into a deeper recession, earning will SHRINK! It is 100% garanteed that the dividend will be cut. BB&T will need to conserve capital to cover bigger right downs that are coming on bad housing and commercial loans.
It's unlikely that the southeast or any other part of the country will go under. In fact, economies in four states are beginning to show early signs of recovery. Before the housing bubble collapsed, the same people would predict endless continuation of rising prices. This economic downturn will soon end and the financials will be the first to recover.