BB&T Corporation
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| Public company | |
| Traded as | : BBT S&P 500 Component |
| Industry | Finance, Investments, and Insurance |
| Founded | 1872 |
| Headquarters | Winston-Salem, North Carolina, United States |
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Number of locations
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2,210 branches |
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Area served
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North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, New Jersey, Ohio, Pennsylvania, Washington, D.C. |
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Key people
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Kelly S. King (Chairman and CEO) |
| Products | Commercial and Consumer banking, Investment banking, Insurance, Mortgage |
| Revenue |  US$10.793 billion (2016) |
| US$2.442 billion (2016) |
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| Total assets | US$219.276 billion (2016) |
| Total equity | US$29.355 billion (2016) |
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Number of employees
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37,500 (2016) |
| Divisions | BB&T Insurance Services |
| Website | BBT.com |
BB&T Corporation (Branch Banking and Trust) is a large financial service holding company based in Winston-Salem, N.C. operating in the United States. Its bank operates 2,210 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. It is ranked 15th on the list of largest banks in the United States by assets and is the 11th-largest commercial bank in the United States when ranked by assets and deposits. Its subsidiary BB&T Insurance Services is one of the largest insurance brokers in the world.
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 several 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. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the , BB&T survived; it was the only one to do so in the town of Wilson.
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Wikipedia