BB&T 2008 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2008 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 152

  • 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
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

ŠRegional Acceptance Corporation, Greenville, North Carolina
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 1,511 offices (as of December 31, 2008) 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 Branch Bank’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 FSB is a federal savings bank. BB&T FSB provides services to clients throughout the United States
and was formed to help improve the operating efficiency of certain business activities for subsidiaries which are
national in scope. In addition to credit card lending, the following businesses operate as either subsidiaries or
divisions of BB&T FSB:
ŠSheffield Financial (a division of BB&T FSB), which specializes in loans to individuals and small
commercial lawn care businesses across the country for the purchase of outdoor power equipment and
power sport equipment;
ŠLiberty Mortgage Corporation, which originates mortgage loans through a network of mortgage
originators (including mortgage brokers, community banks and mortgage banks), in a multi-state area;
and
ŠMidAmerica Gift Certificate Company, which specializes in the issuance and sale of retail gift certificates
and giftcards through a nationwide network of authorized agents.
Major Nonbank Subsidiaries
BB&T also has a number of nonbank subsidiaries, including:
ŠScott & Stringfellow, LLC, 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
12