SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   -----------


                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


                           Date of Report: May 6, 1997
                        (Date of earliest event reported)



                      VIRGINIA FIRST FINANCIAL CORPORATION
               (Exact Name of Registrant as Specified in Charter)



          Virginia                      0-28408                  54-1678497
(State or Other Jurisdiction    (Commission File Number)       (IRS Employer
      of Incorporation)                                     Identification No.)

           Franklin and Adams Streets                 23804-2009
              Petersburg, Virginia                    (Zip Code)
    (Address of Principal Executive Offices)



               Registrant's telephone number, including area code:
                                 (804) 733-0333







<PAGE>



Item 5.  Other Events.

         On May 6,  1997,  Virginia  First  Financial  Corporation,  a  Virginia
corporation (the "Registrant"), Southern National Corporation, the name of which
is to be changed to BB&T Corporation,  a North Carolina corporation ("SNC"), and
BB&T Financial  Corporation of Virginia, a Virginia corporation and wholly-owned
subsidiary of SNC ("BB&T"), entered into an Agreement and Plan of Reorganization
and a related  Plan of Merger (the  "Merger  Agreement"),  pursuant to which the
Registrant  will be  merged  with  and into  BB&T,  with  BB&T as the  surviving
corporate entity (the "Merger").

         Under the terms of the Merger Agreement, each share of the Registrant's
common stock ("VFFC Common Stock") issued and outstanding  immediately  prior to
the  consummation  of the Merger will be converted  into and will  represent the
right to receive both shares of the common stock of SNC ("SNC Common Stock") and
cash  (collectively,  the  "Merger  Consideration").  Based upon  certain  price
protection   features  in  the  Merger  Agreement,   the  value  of  the  Merger
Consideration  (based on the Closing Value of SNC Common Stock,  as that term is
defined in the Merger  Agreement)  will not be less than  $22.50 and will not be
more than $25.00.  If the Closing Value of SNC Common Stock is less than $30.00,
the Registrant can elect to receive Merger  Consideration with a value (based on
the Closing  Value of SNC Common  Stock) less than  $22.50 or to  terminate  the
Merger Agreement. In addition, 30% of the Merger Consideration will be cash, and
70% of the Merger  Consideration  will be shares of SNC Common Stock,  with such
percentages  being  subject to adjustment in the event that the Closing Value of
SNC  Common  Stock is less than  $33.75.  On May 5,  1997,  the day  before  the
announcement of the Merger,  the closing price of SNC Common Stock was $40.83. A
copy of the  Merger  Agreement  is filed as an  exhibit  to this  report  and is
incorporated herein by reference.

         Also on May 6, 1997, the Registrant and SNC entered into a Stock Option
Agreement  (the "Stock Option  Agreement").  Under the terms of the Stock Option
Agreement,  the  Registrant  granted to SNC an option to purchase up to 19.9% of
the total shares of VFFC Common Stock  currently  outstanding.  The Stock Option
Agreement is exercisable only under certain  circumstances.  A copy of the Stock
Option  Agreement is also filed as an exhibit to this report and is incorporated
herein by reference.

         The Merger Agreement and Stock Option  Agreement,  and the transactions
contemplated therein, were approved by the Boards of Directors of the Registrant
and SNC and are subject to, among other things, the approval of the shareholders
of the  Registrant  and the approvals of federal and state  banking  regulators.
Such agreements and  transactions are also subject to SNC's right to perform due
diligence for a period ending July 31, 1997.

         The Merger will be accounted for as a purchase.

         SNC,  through its  subsidiaries,  operates 423 banking  offices in 221
cities and towns in North Carolina, South Carolina and Virginia.


Item 7.           Financial Statements, Pro Forma Financial Information and 
                  Exhibits.

         (a)      Financial Statements of Businesses Acquired.

                  None.

                                      -2-
<PAGE>

         (b)      Pro Forma Financial Information.

                  None.

         (c)      Exhibits.

                  2        Agreement and Plan of Reorganization, dated as of May
                           6, 1997, among Virginia First Financial  Corporation,
                           BB&T  Financial  Corporation of Virginia and Southern
                           National  Corporation,  the  name of  which  is to be
                           changed to BB&T Corporation.

                  99.1     Stock  Option  Agreement,  dated  as of  May 6, 1997,
                           by and  between  Virginia First Financial Corporation
                           and Southern National Corporation.



                                      -3-
<PAGE>








                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  the  registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.


                                 VIRGINIA FIRST FINANCIAL CORPORATION
                                          (Registrant)



Date:  May 9, 1997               By: /s/ Charles A. Patton
                                     ---------------------
                                          Charles A. Patton
                                          President and Chief Executive Officer





<PAGE>


                                  Exhibit Index

Number            Document

2                 Agreement and Plan of Reorganization, dated as of May 6, 1997,
                  among Virginia  First  Financial  Corporation,  BB&T Financial
                  Corporation of Virginia and Southern National Corporation, the
                  name of which is to be changed to BB&T Corporation.

99.1              Stock  Option  Agreement,  dated  as of  May 6,  1997,  by and
                  between  Virginia  First Financial Corporation and Southern 
                  National Corporation.
[{"type": "8-K", "sequence": "1", "description": "8-K FILED BY VIRGINIA FIRST FINANCIAL CORPORATION", "secsgml_size_bytes": 6603}]
{"company-data": {"conformed-name": "VIRGINIA FIRST FINANCIAL CORP", "cik": "0000911033", "assigned-sic": "6035", "irs-number": "541678497", "state-of-incorporation": "VA", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28408", "film-number": "97603046"}, "business-address": {"street1": "FRANKLIN & ADAMS STS", "city": "PETERSBURG", "state": "VA", "zip": "23804-2009", "phone": "8047330333"}, "mail-address": {"street1": "FRANKLIN & ADAMS STS", "city": "PETERSBURG", "state": "VA", "zip": "23804-2009"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   -----------

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                           Date of Report: May 6, 1997
                        (Date of earliest event reported)

                      VIRGINIA FIRST FINANCIAL CORPORATION
               (Exact Name of Registrant as Specified in Charter)

          Virginia                      0-28408                  54-1678497
(State or Other Jurisdiction    (Commission File Number)       (IRS Employer
      of Incorporation)                                     Identification No.)

           Franklin and Adams Streets                 23804-2009
              Petersburg, Virginia                    (Zip Code)
    (Address of Principal Executive Offices)

               Registrant's telephone number, including area code:
                                 (804) 733-0333
Item 5.  Other Events.

         On May 6,  1997,  Virginia  First  Financial  Corporation,  a  Virginia
corporation (the "Registrant"), Southern National Corporation, the name of which
is to be changed to BB&T Corporation,  a North Carolina corporation ("SNC"), and
BB&T Financial  Corporation of Virginia, a Virginia corporation and wholly-owned
subsidiary of SNC ("BB&T"), entered into an Agreement and Plan of Reorganization
and a related  Plan of Merger (the  "Merger  Agreement"),  pursuant to which the
Registrant  will be  merged  with  and into  BB&T,  with  BB&T as the  surviving
corporate entity (the "Merger").

         Under the terms of the Merger Agreement, each share of the Registrant's
common stock ("VFFC Common Stock") issued and outstanding  immediately  prior to
the  consummation  of the Merger will be converted  into and will  represent the
right to receive both shares of the common stock of SNC ("SNC Common Stock") and
cash  (collectively,  the  "Merger  Consideration").  Based upon  certain  price
protection   features  in  the  Merger  Agreement,   the  value  of  the  Merger
Consideration  (based on the Closing Value of SNC Common Stock,  as that term is
defined in the Merger  Agreement)  will not be less than  $22.50 and will not be
more than $25.00.  If the Closing Value of SNC Common Stock is less than $30.00,
the Registrant can elect to receive Merger  Consideration with a value (based on
the Closing  Value of SNC Common  Stock) less than  $22.50 or to  terminate  the
Merger Agreement. In addition, 30% of the Merger Consideration will be cash, and
70% of the Merger  Consideration  will be shares of SNC Common Stock,  with such
percentages  being  subject to adjustment in the event that the Closing Value of
SNC  Common  Stock is less than  $33.75.  On May 5,  1997,  the day  before  the
announcement of the Merger,  the closing price of SNC Common Stock was $40.83. A
copy of the  Merger  Agreement  is filed as an  exhibit  to this  report  and is
incorporated herein by reference.

         Also on May 6, 1997, the Registrant and SNC entered into a Stock Option
Agreement  (the "Stock Option  Agreement").  Under the terms of the Stock Option
Agreement,  the  Registrant  granted to SNC an option to purchase up to 19.9% of
the total shares of VFFC Common Stock  currently  outstanding.  The Stock Option
Agreement is exercisable only under certain  circumstances.  A copy of the Stock
Option  Agreement is also filed as an exhibit to this report and is incorporated
herein by reference.

         The Merger Agreement and Stock Option  Agreement,  and the transactions
contemplated therein, were approved by the Boards of Directors of the Registrant
and SNC and are subject to, among other things, the approval of the shareholders
of the  Registrant  and the approvals of federal and state  banking  regulators.
Such agreements and  transactions are also subject to SNC's right to perform due
diligence for a period ending July 31, 1997.

         The Merger will be accounted for as a purchase.

         SNC,  through its  subsidiaries,  operates 423 banking  offices in 221
cities and towns in North Carolina, South Carolina and Virginia.

Item 7.           Financial Statements, Pro Forma Financial Information and 
                  Exhibits.

         (a)      Financial Statements of Businesses Acquired.

                  None.

                                      -2-
(b)      Pro Forma Financial Information.

                  None.

         (c)      Exhibits.

                  2        Agreement and Plan of Reorganization, dated as of May
                           6, 1997, among Virginia First Financial  Corporation,
                           BB&T  Financial  Corporation of Virginia and Southern
                           National  Corporation,  the  name of  which  is to be
                           changed to BB&T Corporation.

                  99.1     Stock  Option  Agreement,  dated  as of  May 6, 1997,
                           by and  between  Virginia First Financial Corporation
                           and Southern National Corporation.

                                      -3-
SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  the  registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                 VIRGINIA FIRST FINANCIAL CORPORATION
                                          (Registrant)

Date:  May 9, 1997               By: /s/ Charles A. Patton
                                     ---------------------
                                          Charles A. Patton
                                          President and Chief Executive Officer
Exhibit Index

Number            Document

2                 Agreement and Plan of Reorganization, dated as of May 6, 1997,
                  among Virginia  First  Financial  Corporation,  BB&T Financial
                  Corporation of Virginia and Southern National Corporation, the
                  name of which is to be changed to BB&T Corporation.

99.1              Stock  Option  Agreement,  dated  as of  May 6,  1997,  by and
                  between  Virginia  First Financial Corporation and Southern 
                  National Corporation.