BB&T

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BB&T Corporation is the 8th-largest bank in the United States with 1,850 branches in 13 states, and is based in Winston-Salem, North Carolina. It has 22 branches in Birmingham, holding $1.2 billion in local deposits, and a total of 87 across Alabama.

BB&T (which stands for "Branch Banking and Trust") entered the Birmingham District with a de novo branch at 2204 Lakeshore Parkway in Homewood. On August 15, 2009, it was announced that the deposits and loan accounts of Colonial Bank were being transferred to BB&T as part of Colonial's receivership by the FDIC. This acquisition added over 340 branches in Alabama, Florida, Georgia, Nevada and Texas along with approximately $26 billion in assets. This moved BB&T Corporation to the 8th largest commercial bank in the United States based on deposits.

One year after entering Alabama via the Colonial acquisition, BB&T reported that deposits had risen 10 percent.

In 2019 BB&T merged with Atlanta, Georgia-based SunTrust Banks to from Truist Financial Corporation, and established a new corporate headquarters in Charlotte, North Carolina.

Birmingham locations

BB&T has 26 offices in the metropolitan Birmingham area:

References

  • Jarvis, Crystal (August 14, 2009) "It's official: Colonial BancGroup fails." Birmingham Business Journal
  • "BB&T" (December 7, 2009) Wikipedia - accessed December 19, 2009
  • Hubbard, Russell (August 21, 2010) "BB&T says Alabama deposits up one year after Colonial debacle." The Birmingham News
  • Marcinek, Laura and Danielle Kucera (February 6, 2011) "BB&T targets takeovers in Texas, Midwest." Bloomberg News
  • Little, Jane (February 7, 2019) "BB&T merging with SunTrust, establishing HQ in Charlotte." Triad Business Journal

External links