BB & amp; T Corporation ( Banking Branch and Trust Company ) is a financial services company based in Winston-Salem, North Carolina. It operates more than 2,100 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokers, asset management, mortgages, and insurance products and services. It's in the list of the largest banks in the United States. Its subsidiaries, BB & amp; T Insurance Services is one of the largest insurance brokers in the world.
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Histori
In 1872, Alpheus Branchi and Thomas Jefferson Hadley established merchant banks Branch and Hadley in their home town, Wilson, North Carolina. After many transactions, mostly with local farmers, the Branch bought Hadley shares in 1887 and renamed the Company's Branch and Company, the Banker. Two years later, Branch, his father-in-law General Joshua Barnes, Hadley, and three others got a charter from the North Carolina General Assembly to operate the Wilson Banking and Trust Company. After many name changes, the company finally established the name of Branch Banking and Trust Company. The branch remained an active member of the company until his death in 1893. 1903 The Branch Banking and Trust Company Building in Wilson was listed on the National Register of Historic Places in 1978.
B & Bs T sold Liberty Bonds during World War I and grew more than $ 4 million in assets in 1923. Insurance Services BB & amp; T was added in 1922 and mortgage divisions were added in 1923. Although banks across the United States failed as a result of the Stock Market Crash of 1929, the B & T survived; it was the only one doing it in the town of Wilson.
In 1995, the bank merged with Southern National Bank, another bank with roots in the eastern part of the country. It gave BB & T 437 branches in 220 cities in Carolinas and Virginia. The bank continued to expand nationwide through the 1990s, purchasing Fidelity Financial Bankshares, First Financial of Petersburg, Maryland, Maryland Federal Bancorp, and the Franklin Bancorporation. In 1998, BB & amp; T acquired MainStreet Financial of Martinsville, Virginia, and Mason-Dixon Bancshares from Westminster, Maryland, and subsequently expanded to Georgia and West Virginia after purchasing First Liberty of Macon, Georgia, and Matewan Bancshares.
In 2005, the bank acquired Main Street Banks metro Atlanta for $ 622 million.
In 2006, the bank acquired Coastal Federal Bank, based in Myrtle Beach, South Carolina.
In February 2008, the company acquired Burkey Risk Services.
In April 2008, the company acquired UnionBanc Insurance Services.
At the end of 2008, the bank received $ 3.1 billion in bailout money through the sale of preferred stock to the Treasury Asset Relief Program from the US Treasury Department. In June 2009, the bank repurchased the shares. Also in June 2009, its chairman, John A. Allison IV delivered a keynote speech to a meeting of the Competitive Enterprise Institute, where he claimed to show how government regulations led to the 2007-2008 financial crisis.
In July 2008, the company acquired Puckett, Scheetz & amp; Hogan.
On August 14, 2009, the bank acquired the Colonial Bank after a seizure by the FDIC. The acquisition adds more than 340 branches in Alabama, Florida, Georgia, Nevada, and Texas, along with approximately $ 22 billion in assets. B & Bs T sold the Nevada branch to the US Bancorp in January 2010.
In December 2008, the company acquired J. Rolfe Davis.
In November 2009, the company acquired Oswald Trippe.
In September 2011, the company acquired Liberty Insurance Services, an agent operating in California. The company also acquired Atlantic Risk Management.
In November 2011, the company acquired Precept, an employee benefits consulting firm.
In February 2012, the company acquired life and property insurance division and accident insurance from Crump Group.
In July 2012, the bank acquired BankAtlantic, and $ 2.1 billion in loans and $ 3.3 billion in deposits. The company also started selling online flood insurance.
In December 2013, the bank acquired 21 Citigroup branches in Texas for $ 36 million, adding $ 1.2 billion in deposits.
In March 2014, the company acquired Woodbury & amp; Co, an insurance broker operating in the Carolina.
In April 2014, the company acquired Caledonian Insurance Group, which specializes in insurance brokerage services for the aviation industry.
In September 2014, the bank acquired 41 other Citigroup branches, adding 123 branches and $ 5.3 billion in deposits.
In April 2015, BB & amp; T subsidiary of CRC Insurance Services acquired the assets of Napco LLC, a catastrophic commercial insurance broker.
In June 2015, the bank acquired Bank of Kentucky for $ 363 million, which added $ 1.9 billion in assets and granted BB & presence in the Kentucky-North Cincinnati market, and its first branch in Ohio. The Company also sells American Coastal Insurance and increases its ownership in AMRisc.
In August 2015, the bank acquired Susquehanna Bank for $ 2.5 billion, added 240 branches and $ 18.7 billion in assets, and marked the entry of banks to Pennsylvania and New Jersey.
In April 2016, the company acquired Swett & amp; Crawford, a wholesale insurance broker.
In April 2016, the bank acquired National Penn for $ 1.8 billion, adding 124 branches in Pennsylvania, New Jersey and Maryland, $ 9.6 billion in assets, and $ 6.7 billion in deposits.
Maps BB&T
Buildings and branches
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External links
Source of the article : Wikipedia
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