Thursday, November 1, 2012

BB&T set for major Texas expansion

BB&T announced Thursday that it will double its banking presence in Texas, adding 30 branches in four cities next year.

The expansion will be in Dallas/Ft. Worth, Houston, San Antonio and Austin, the bank said. The new branches still must be approved by regulators.

"The BB&T brand is gaining great traction in Texas, and our success with the community bank has been truly phenomenal," BB&T Texas region president Kay St. John said in a statement. "These four cities are densely rich commercial and small business markets representing many of the highest potential growth areas within BB&T's entire footprint."

The Winston-Salem bank will look to occupy vacant office space rather than build new branches. The $40 million investment is expected to add 150 jobs.

BB&T's deposits in Texas have grown nearly 70 percent in the last three years, the bank said. It now has $1.65 billion in loans in the state as well, and about 200 community banking employees at 27 branches.

The bank entered Texas through its 2009 acquisition of Colonial Bank.

BB&T has about 1,200 employees in Texas overall, including auto loan call centers and offices and insurance operations.


Anonymous said...

Must be a lot of fools in Texas, BB&T is the worst small business bank in the nation.

Anonymous said...

Sike. BB&T is one of the best banks around. Certainly better than BOA.