Banking company serving the Southeast and Carolinas.

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Headquarters: 200 West Second Street
Winston-Salem, NC 27101
Employees: 32,264
CEO: Kelly King
Stock Symbol: BBT


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BB&T Corporation, headquartered in Winston-Salem, N.C. , is one of the nation's top financial-holding companies with $186.8 billion in assets. Its bank subsidiaries operate 1,839 locations in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Texas, Indiana and Washington, D.C.

BB&T's banking subsidiaries are organized as a group of community banks, each with a regional president, which allows decisions to be made locally, close to the client.

Since 1995, BB&T has completed the acquisition of more than 35 community banks and thrifts, more than 85 insurance agencies, and 32 non-bank financial services companies.

In 2014, the company reported deposits of $130.3 billion, up 3.5% from the previous year. Revenues were $9.3 billion, down 4.1%, and net income of $2.22 billion.

In November 2014, BB&T announced an agreement to acquire Susquehanna Bancshares of Pennsylvania. The acquisition will add 245 retail branches in the Mid-Atlantic with approximately $13.6 billion in deposits and $18.6 billion in assets

"We are pleased to report record net income for the fourth quarter and full year 2014," said Chairman and Chief Executive Officer Kelly King. "These results were driven by very good expense control and strong performances from our mortgage banking, insurance and investment banking and brokerage businesses, which drove noninterest income to exceed $1 billion for the quarter.


The company that would become Branch Banking and Trust got its start in the small eastern North Carolina town of Wilson in the latter part of the 19th century.

Alpheus Branch, a local merchant and owner of a small mercantile business, came to know Thomas Jefferson Hadley, the man who was then trying to organize Wilson County's first system of public schools.

Through their mutual business and community interests, they soon came to recognize the need for a reputable, secure merchant bank in their community - a small town still reeling from the social and economic transformations brought about by the Civil War. In 1872 these two men founded Branch and Hadley as a banking institution people could believe in.

As private bankers, Branch and Hadley accepted time deposits, paid out interest, and loaned money at reasonable rates. With money in hand to buy seed and fertilizer, local farmers started rebuilding the foundations of the local economy by planting cotton and a new, growingly popular cash crop - tobacco.

In 1887, Branch bought Hadley's interest in the bank and changed its name to Branch and Company, Bankers. Two year later Branch expanded his ambitions when, along with his father-in-law Gen. Joshua Barnes, Hadley, and three other men, he secured a charter from the North Carolina Legislature to operate the Wilson Banking and Trust Company.

This charter was amended as the company went through further name changes, becoming the State Bank of Wilson, then settling on Branch Banking and Company.

Alpheus Branch continued to be an active member of both his company and his community until his death on January 3, 1893. The companies that he established continued to grow in the years that followed, consolidating into a single institution in 1900 when Branch and Company, Bankers was sold to Branch Banking and Company.

With this organization established, the bank began to expand its service offerings. On December 20, 1902, it opened a savings department, paying four percent interest compounded quarterly. The 1889 state charter had also authorized the bank to organize a trust department, but changes in the law delayed implementation until 1907, when Branch Banking and Company became the first bank in the state to engage actively in trust activities.

In 1913, the charter was amended once again to change the name to Branch Banking and Trust Company, and the company finally came to be known as BB&T.

Since 1989, BB&T has completed the acquisition of 60 community banks and thrifts, more than 100 insurance agencies, and 35 non-bank financial services companies.


The BB&T Corporation 401(k) Savings Plan

- 100% vesting after 90 days of qualifying service
- 100% match on up to 6% of compensation after one year of service
- Immediate vesting in BB&T's matching contributions
- Investment of up to 25% of compensation (contributions subject to legal restrictions)
- Tax-deferred earnings until money is withdrawn
- Pre-tax contributions
- Access to 17 investment funds and a self-directed brokerage account
- Immediate rollover of funds from previous employer's qualified plans

The BB&T Corporation Pension Plan

The BB&T Corporation Pension Plan was designed to help employees accumulate retirement income for a more comfortable retirement. The Pension Plan benefit is calculated based on the number of years an employee works for the company and his/her average compensation for the highest five consecutive years out of the last ten years worked for the company.

The BB&T Pension Plan includes the following features:
- 100% of contributions are made by BB&T
- 100% vested after five years of qualifying service
- Access at age 55 with 10 years of qualifying service

Health Care

Medical coverage is effective on the date an employee begins work. There are no waiting periods for coverage. The BB&T Medical Program offers two PPO options and one EPO option. These plans are managed by BlueCross BlueShield and provide nationwide medical coverage. All of these plans offer prescription drug benefits. Details vary per plan.

Dental Care

BB&T offers optional dental coverage that provides for routine care, basic and major services, and children's orthodontia.

Vision Care

Vision care provided by providers in the Vision Service Plan (VSP) network typically covers 100% of charges for annual eye exams and the cost of eyeglasses or contact lenses with no co-payments.

Term Life Insurance

BB&T employees are provided with life insurance equal to two times their salary. Employees may choose additional coverage from one to six times their salary in Supplemental Life Insurance.

Dependent Life Coverage

BB&T also offers dependent life insurance for family members. This policy pays a $10,000 benefit in the event of a spouse's death and $7,500 in the event of a child's death.

Disability Coverage

Disability insurance is provided to replace 50% of an employee's salary should he/she become disabled. This coverage may be increased to 60% for a slightly higher premium. Both plans pay benefits when days available through the BB&T Short-Term Absence policy have been exhausted.

Accidental Death and Dismemberment

This policy pays a benefit to the employee or the designated beneficiary in the event of an accident resulting in the death or dismemberment of the covered person.

Flexible Spending Accounts

The IRS allows money to put aside in flexible spending accounts on a pre-tax basis for out-of-pocket medical and dependent care expenses. This benefit can result in significant savings. Contributions of up to $5,000 per year may be made to both medical and dependent care spending accounts.


LifeForce, BB&T's innovative wellness program, offers an opportunity to develop and manage a healthy lifestyle as well as a way to decrease medical costs. Those who participate in and reach Phase 2 of the program are rewarded with reductions in medical, term life, and disability premiums.

Updated January 24, 2015