When to Buy A Bank Stock? Cramer's 2 Criteria

For Cramer to invest in a bank stock, the financial institution must meet two criteria.

First, it must have repaid or is in the process of repaying the Troubled Asset Relief Program money, so that it can start paying shareholders a dividend. Second, he prefers strong regional banks because they are able to buy weaker banks from the Federal Deposit Insurance Corp.

Winston-Salem, N.C.-based BB&T fits the bill. With 1,782 branches, Cramer said it has come to dominate the South and Southeast U.S. It has $107.2 billion in deposits and more than $157 in assets, including $107 billion in loans.

One of few banks to turn a profit every quarter for the last three years, Cramer wondered what's next for this financial institution. For answers, he chatted with BB&T CEO Kelly King. Watch the video to see the full interview.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money Web site? madcap@cnbc.com