BB&T expands brand into new Mid-Atlantic markets
Conversion gives Susquehanna clients access to new and expanded products
WINSTON-SALEM, N.C., Nov. 9, 2015 /PRNewswire/ — BB&T Corporation (NYSE: BBT) today announced the successful completion of its Susquehanna conversion including core systems, products, and most signage changes. After a weekend of conversion activity, 239 branches in Pennsylvania, Maryland, New Jersey, and West Virginia opened today (Monday) under the BB&T banner.
“We are very excited to take our final step in this merger of two great companies and cultures,” said Chairman and Chief Executive Officer Kelly S. King. “The signage may change and the products may have different names, but more importantly, our clients will continue to be served in an exceptional way by the same friendly faces led by our outstanding local leadership teams.”
To ensure a smooth transition, associates have trained for months to prepare for this day. BB&T also has teams of “merger buddies” at all locations to provide conversion support. These merger buddies are experienced BB&T associates from throughout the company’s footprint who worked alongside branch teams during the weekend to prepare for today’s opening. Many of the merger buddies will remain onsite this week to support branch associates.
With BB&T’s community banking approach, clients now have access to an expanded network of 2,150 branches and 3,300 ATMs. Beyond BB&T’s retail offerings, clients have access to a full range of financial services including commercial banking, wealth management, insurance, international services, commercial finance, mortgage servicing, asset management, and capital markets.
“I’m also excited our clients now have access to our new digital banking platform, U by BB&T,” King added. “The free customizable digital banking platform makes many of BB&T’s Online banking services, as well as new feature, available in one seamless experience.”
With U by BB&T, clients can see all their accounts and financial information in one place. Other features include the ability to view accounts from other financial institutions, set financial goals and track your progress, as well as make person-to-person payments regardless of where the other person banks.
A video demonstration of U by BB&T’s features can be seen here. U by BB&T is now available for download on the iTunes App Store and Google Play. For more information, visit BBT.com/U.
The Susquehanna acquisition, which was announced in November 2014, included approximately $14.1 billion in deposits and total assets of $18.2 billion based on Aug. 1, 2015, balances. BB&T received the required regulatory approvals for the acquisition earlier this year.
As part of the conversion, BB&T has created three new community banking regions – Western Maryland and Pennsylvania, Central Pennsylvania, and the Greater Delaware Valley. In addition, the former BB&T and Susquehanna regions have been consolidated to form a new Maryland Region.
BB&T is one of the largest financial services holding companies in the U.S. with approximately $208.8 billion in assets and market capitalization of approximately $27.8 billion, as of Sept. 30, 2015. Based in Winston-Salem, N.C., the company operates 2,150 financial centers in 15 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by the U.S. Small Business Administration, Greenwich Associates and others. BB&T has also been named one of the World’s Strongest Banks by Bloomberg Markets Magazine, one of the top three in the U.S. and in the top 15 globally. More information about BB&T and its full line of products and services is available at BBT.com.
SOURCE BB&T Corporation