BB&T
 |
|
| Public | |
| Traded as | : BBT S&P 500 Component |
| Industry | Finance, Investments, and Insurance |
| Founded | 1872 |
| Headquarters | Winston-Salem, North Carolina, United States |
|
Area served
|
North Carolina, South Carolina, Virginia, Maryland, West Virginia, California, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, New Jersey, Ohio, Pennsylvania, Washington, D.C. |
|
Key people
|
Kelly S. King (Chairman and CEO) |
| Products | Commercial and Consumer banking, Investment banking, Insurance, Mortgage |
| Revenue |
 US$11 billion (FY 2016)
|
|
$2.3 billion (FY 2016)
|
|
| Total assets |
$219.3 billion (FY 2016)
|
| Total equity |
$29.9 billion (FY 2016)
|
|
Number of employees
|
39,000 (January 2017) |
| Website | BBT.com |
BB&T (Branch Banking and Trust) is one of the largest financial services holding companies in the U.S. with $219.3 billion in assets and market capitalization of $38.1 billion (as of December 31, 2016). Based in Winston-Salem, N.C., the company operates 2,196 financial centers in 15 states and Washington, D.C., and offers a range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services.
BB&T dates back to 1872, when Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank in their hometown of Wilson, North Carolina. After many transactions, mostly with local farmers, Branch bought out Hadley's shares in 1887 and renamed the company to Branch and Company, Bankers. Two years later, Branch, his father-in-law Gen. Joshua Barnes, Hadley and three other men, secured a charter from the North Carolina General Assembly to operate the Wilson Banking and Trust Company. After numerous additional name changes, the company finally settled on the name Branch Banking and Trust Company. Branch remained an active member in the company until his death in 1893. The 1903 Branch Banking and Trust Company Building at Wilson was listed on the National Register of Historic Places in 1978.
BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. An insurance division was added in 1922, followed by a mortgage division in 1923. As banks across the nation failed as a result of the , BB&T survived; it was the only one to do so in the town of Wilson.
World War II revived BB&T. BB&T's prosperity continued into the 1960s and 1970s, as mergers and acquisitions grew the company to $343 million in assets with new branches in 35 cities. By 1994, BB&T had become North Carolina's largest bank with more than $10.3 billion in assets and 263 offices in 138 cities in the Carolinas, though it has since slipped to second behind Bank of America.
...
Wikipedia