BB&T 2007 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 2007 BB&T annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 137

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137

ŠScott & Stringfellow, Inc., Richmond, Virginia
ŠRegional Acceptance Corporation, Greenville, North Carolina
ŠSheffield Financial LLC, Clemmons, North Carolina
ŠMidAmerica Gift Certificate Company, Louisville, Kentucky
ŠBB&T Asset Management, Inc., Raleigh, North Carolina
Branch Bank, BB&T’s largest subsidiary, was chartered in 1872 and is the oldest bank headquartered in
North Carolina. Branch Bank provides a wide range of banking and trust services for retail and commercial
clients in its geographic markets, including small and mid-size businesses, public agencies, local governments and
individuals through 1,492 offices (as of December 31, 2007) located in North Carolina, South Carolina, Virginia,
Maryland, Georgia, Kentucky, Florida, West Virginia, Tennessee, Washington D.C., Alabama and Indiana.
Branch Bank’s principal operating subsidiaries include:
ŠBB&T Equipment Finance Corporation, based in Charlotte, North Carolina, which provides loan and
lease financing to commercial and small businesses;
ŠBB&T Investment Services, Inc., a registered broker-dealer located in Charlotte, North Carolina, which
offers clients non-deposit investment alternatives, including discount brokerage services, equities, fixed-
rate and variable-rate annuities, mutual funds and government and municipal bonds;
ŠBB&T Insurance Services, Inc., headquartered in Raleigh, North Carolina, which offers property and
casualty, life, health, employee benefits, commercial general liability, surety, title and other insurance
products through its agency network;
ŠStanley, Hunt, DuPree & Rhine, Inc., with dual headquarters in Greensboro, North Carolina, and
Greenville, South Carolina, which offers flexible benefit plans, and investment advisory, actuarial and
benefit consulting services;
ŠPrime Rate Premium Finance Corporation, Inc., located in Florence, South Carolina, and its subsidiary
AFCO Credit Corporation, headquartered in Pittsburgh, Pennsylvania which provide insurance premium
financing to clients in the United States and Canada;
ŠGrandbridge Real Estate Capital, LLC, based in Charlotte, North Carolina, which specializes in
arranging and servicing commercial mortgage loans;
ŠLendmark Financial Services, Inc., located in Covington, Georgia, which offers alternative consumer
loans to clients unable to meet BB&T’s normal credit and mortgage loan underwriting guidelines;
ŠCRC Insurance Services, Inc., based in Birmingham, Alabama, which is a wholesale insurance broker
authorized to do business nationwide; and
ŠMcGriff, Seibels & Williams, Inc., based in Birmingham, Alabama, which is authorized to do business
nationwide and specializes in providing insurance products on an agency basis to large commercial and
energy clients, including many Fortune 500 companies.
BB&T Bankcard Corporation is a special purpose bank, which offers revolving credit products.
Major Nonbank Subsidiaries
BB&T also has a number of nonbank subsidiaries, including:
ŠScott & Stringfellow, Inc., which is a registered investment banking and full-service brokerage firm that
provides services in retail brokerage, equity and debt underwriting, investment advice, corporate finance
and equity research; and facilitates the origination, trading and distribution of fixed-income securities and
equity products in both the public and private capital markets. It also has a public finance department
that provides investment banking, financial advisory services and debt underwriting services to a variety
of regional taxable and tax-exempt issuers. Scott & Stringfellow’s investment banking and corporate and
public finance areas do business as BB&T Capital Markets;
9