Welcome Guest | Join for Free  or  Login
BB&T Logo

Quick Facts

Phone Number:
1-800-226-5228
Bank Website:
bbt.com
Assets Managed:
$159.15 Billion
Headquarters:
Winston Salem, NC
Date Established:
January 1st, 1872
Equal Housing Lender / Member FDIC
BB&T

Profile Information:

Bank Headquarters: Winston-Salem, North Carolina
Stock Symbol: BBT
CEO: Brian Moynihan

The Branch Banking and Trust company is an American banking company with its headquarters in Winston-Salem, North Carolina. The company is a unique company in the way in which it does business; it has a very unique set of business ideologies which are based on its management, and for its financial support of academic programs concerning libertarianism and the moral foundations of capitalism.

The company was founded in 1872 in its current headquarters are in Wilson, North Carolina. The company published an investment banking revenue of $10.6B in 2008, with a net income of US$1.734B in the same year. The Branch Banking and Trust Company currently employs around 30,000 people throughout the United States handling the companies $165.3B in assets. Back in 1872 the company was founded as the “Branch and Hadley” bank which handled transactions between local farmers.

Despite those humble beginnings the company experienced its biggest growth phase during the First World War in which they sold Liberty Bonds adding $4M to their asset schedule. During the great depression of 1929 The Branch Banking and Trust Company was the only company in the town of Wilson to not fail. The Second World War was even kinder to the company as they continued to grow through mergers and acquisitions until 1994 in which The Branch Banking and Trust Company became the largest bank in North Carolina. The bank is the nation's 10th-largest bank holding company with $165.8 billion in assets.

The 1995 merger between The Branch Banking and Trust Company and Southern National Bank meant that the bank managed to add another 437 branches to its catalogue in a total of 220 more cities in the United States. BB&T's banking subsidiaries are organized as a group of community banks each with a regionally based president, this allows the bank to keep its community roots and to also keep it grounded in the places in which the customers live. This may be seen as a diversion to typical capitalist notions of centralised management, taking the companies out of the communities.

The Branch Banking and Trust Company has had a strong history of charitable donations to causes around the country. These donations include donations to the establishment of programs at the Florida State University, University of Texas, Lutgert College of Business and also at the Loyola College in Maryland. The investment in education by the bank in the Southern states can be seen as a step to promoting certain moral objectives in the business world.

In the current financial crisis the bank did not do as well as it did in the 1929 depression. The bank accepted a total of $3.1B in bailout money through the sale of its shared to the Treasury under the Troubled Asset Relief Program; however this was a temporary move as the bank has plans to repurchase the shares in the future. In 2009 the bank continued to expand despite the global financial recession not quite being over. BB&T acquired Colonial Bank in August 2009 and reported a net income of $877 million which was a positive report for any bank in the time frame.







EverBank Yield Pledge(SM) Money Market Account

Recent Banking Questions

how to get my banking imformtion how to use online banking i have a money order from this bank and i live in the united states. where can i cash it. I have some cd's that belong to a deceased grandmother. How can I find out if they have been cashed? Is it legal for a bank to take a payment for my mortgage out of my checking account without my permission? The bank then charged insufficient funds charges for each of the four checks that were not covered because of that. They also have software that caused the checks to be returned up to four times automatically. I could not even stop the checks from being redeposited again by the payee. do you have banking located in washington D.C. or bltimore, or philidelphia? any banks in puerto rico offer free checking? Need Acct Info on Acct opened in 1986 at Peoples Bank in Nutley Is there free checking... and how do I open an account what is exactly operational research I'm trying to find a Peoples Bank around Hillsboro Ohio How do you get back your own money, from what's now a share account?! I thought that I had 600.00 in my checking account and i have found out i don't but I have wrote 530.00 in checks. Do i have overdraft protection? free checking account opening