Oct 18 - Standard & Poor's Ratings Services today said its ratings on BB&T Corp. (A-/Stable/A-2) are not affected by the company's third-quarter results. BB&T reported good net income of $469 million, down 8% from the second quarter. Earnings reflected $43 million in pretax merger-related charges associated with the acquisition of BankAtlantic. Noninterest income was relatively flat compared with the previous quarter, mainly as a result of insurance seasonality, while noninterest expense was higher because of merger-related charges and loan processing expense. This was somewhat offset by a decline in foreclosed property expense. BB&T's asset credit quality continues to improve. Its other real estate owned (OREO) balances declined nearly 30% from the second quarter. As a result, nonperforming assets (NPAs), as a percentage of loans plus OREO, fell 5% to $2.9 billion, by our measure, which, in turn, lowered the NPA ratio by 21 basis points to 2.50% from 2.71% in second-quarter 2012. (We include all restructured loans in our calculation of NPAs.) BB&T experienced good loan growth, up 12.6% from last quarter, or 8.4% excluding the BankAtlantic acquisition. This stemmed mainly from increases in other lending subsidiaries, residential mortgage, and commercial and industrial loans. The net interest margin remained strong, at 3.94%. We expect BB&T's consistent profitability, strong fee income, and improving credit quality will remain favorable rating factors.