Branch Banking and Trust

An Introduction to Branch Banking and Trust:

Branch Banking and Trust is one of the largest and well known banks of America. Since 1872 it has been helping its clients to achieve economic success and financial security. Another objective of the bank is to maximize the return to shareholders inspite of investing in safe assets. Besides banking and lending, it also offers a wide range of services including insurance, trust services and wealth management advices. The headquarters of Branch banking and Trust is located in Winston-Salem, North Carolina. John A. Allison, IV is the Chairman and CEO of Branch Banking and Trust Corporation.

Services provided by Branch Banking and Trust:

• Checking Account– There is a bunch of checking accounts such as BB&T Free, BB&T Student Free, Senior Checking, Access Banking, Classic Banking and Elite Gold.
• Savings Account– The savings account provided by Branch banking and Trust include BB&T e Savings, Regular Savings, Money Rate Savings and Investor’s Deposit Account.
• Certificates of Deposit(CD)– The different CDs offered by Branch banking and Trust are 7 days-60 months, Home Saver, College Saver, Add-On, Can’t Lose, Stepped Rate and Treasury.
• Loans- Branch banking and Trust provides loans for home mortgage, home equity mortgage, purchase of automobiles and recreational vehicles for personal reasons.
• Cards- Branch banking and Trust offers credit cards, check cards, and gift cards. BB&T cards are convenient and are accepted at almost all locations.
• Investments and Trusts- Branch banking and Trust offers asset management for wealthy families. It also provides broker-dealer service, risk management and trust and estate planning.
• Insurance- Branch banking and Trust provides insurance coverage for health, medical and life. Non-life product includes property insurance, commercial insurance, employee benefits.
• Cash Management Services- Branch banking and Trust helps companies by converting their receivables into cash. Companies can also benefit from better use of their business account information and fast movement of funds between domestic and international banks.

Reasons for favoring Branch Banking and Trust:

• Branch Banking and Trust has proved its superiority in many crisis situations. It was the only bank that faced the 1929 stock market crash without failing.
• The US government has huge faith in Branch Banking and Trust. Even post offices deposited the customer’s money in it to earn high returns at a lesser risk.
• Branch Banking and Trust has made substantial acquisitions in recent years. It has recently acquired Coastal Financial Corporation of Myrtle Beach(South Carolina), Main Street Banks Inc. of Atlanta(Georgia) and First Citizens Bancorp of Cleveland(Tennessee). This helps it in expanding business and meeting its obligations without delay.
• Branch Banking and Trust has an asset base of $121.7 billion. This ensures that the bank remains solvent.
• It operates 1450offices spread over in 11 states and Washington D.C. and has a work force of about 30,000 employees.
• Branch Banking and Trust secured a rank of 312 in the 2005 Fortune 500 list and was presented the award of Excellence in Business Banking in 2005 by Greenwich Associates.