BBT » Topics » BB&T Continues to Expand Through Acquisitions

This excerpt taken from the BBT 8-K filed Jan 22, 2009.

BB&T Continues to Expand Through Acquisitions

     On Dec. 12, 2008, BB&T announced the acquisition of $506 million in deposits of Haven Trust Bank of Duluth, Ga., through an agreement with the Federal Deposit Insurance Corporation (FDIC).

     In December, Grandbridge Real Estate Capital, LLC, a commercial mortgage banking subsidiary of BB&T, announced the acquisition of Live Oak Capital Ltd. Live Oak Capital specializes in debt and equity placement and loan servicing for the commercial real estate industry.

     In addition, BB&T Insurance Services continued to expand with the acquisitions of J. Rolfe Davis Insurance Agency Inc. of Maitland, Fla., and TAPCO Underwriters Inc. of Burlington, N.C. These acquisitions were completed on Dec. 31, 2008.

     At Dec. 31, 2008, BB&T had $152.0 billion in assets and operated 1,511 banking offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. BB&T’s common stock is traded on the New York Stock Exchange under the trading symbol BBT.

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