BB&T Insurance Services, Inc.
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| Public | |
| Traded as | |
| Industry | Financial services |
| Founded | 1872 |
| Founder | Alpheus Branchi Thomas Jefferson Hadley |
| Headquarters | Winston-Salem, North Carolina, United States |
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Number of locations
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2,100 branches |
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Area served
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North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, California, Indiana, Texas, New Jersey, Ohio, Pennsylvania, Washington, D.C. |
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Key people
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Kelly King, Chairman & CEO Christopher L. Henson, President Daryl N. Bible, CFO |
| Products | Commercial and Consumer banking Investment banking Insurance Mortgage |
| Revenue |
 US$10.793 billion (2016) |
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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) |
| Website | bbt |
BB&T Corporation (Branch Banking and Trust Company) is a financial service holding company based in Winston-Salem, North Carolina. Its bank operates over 2,100 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 on the list of largest banks in the United States. Its subsidiary BB&T Insurance Services is one of the largest insurance brokers in the world.
In 1872, Alpheus Branchi 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 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 many more 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.
In 1995, the bank merged with Southern National Bank, another bank with roots in the eastern part of the state. This gave BB&T 437 branches in 220 cities in the 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 Franklin Bancorporation. In 1998, BB&T acquired MainStreet Financial of Martinsville, Virginia, and Mason-Dixon Bancshares of Westminster, Maryland, and further expanded into Georgia and West Virginia after purchasing First Liberty of Macon, Georgia, and Matewan Bancshares.
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Wikipedia