BB&T 2011 Annual Report Download - page 5

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ITEM 1. BUSINESS
BB&T Corporation (“BB&T”, “the Company”, “the Corporation” or “the Parent Company”), is a financial holding
company headquartered in Winston-Salem, North Carolina. BB&T conducts its business operations primarily through its
commercial bank subsidiary, Branch Banking and Trust Company (“Branch Bank”), which has offices in North Carolina,
Virginia, Florida, Georgia, Maryland, South Carolina, Alabama, West Virginia, Kentucky, Tennessee, Texas, Washington
D.C and Indiana. In addition, BB&T’s operations consist of a federally chartered thrift institution, BB&T Financial, FSB
(“BB&T FSB”), and several nonbank subsidiaries, which offer financial services products.
Operating Subsidiaries
At December 31, 2011, the principal operating subsidiaries of BB&T included the following:
• Branch Banking and Trust Company, Winston-Salem, North Carolina
• BB&T Financial, FSB, Columbus, Georgia
• Scott & Stringfellow, LLC, Richmond, Virginia
• Clearview Correspondent Services, LLC, Richmond, Virginia
• Regional Acceptance Corporation, Greenville, North Carolina
• American Coastal Insurance Company, Davie, Florida
• Sterling Capital Management, LLC, Charlotte, 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 1,779
offices (as of December 31, 2011) located in North Carolina, Virginia, Florida, Georgia, Maryland, South Carolina,
Alabama, West Virginia, Kentucky, Tennessee, Texas, Washington D.C. and Indiana. Branch Bank’s principal operating
subsidiaries include:
• BB&T Equipment Finance Corporation, based in Charlotte, North Carolina, which provides loan and lease
financing to commercial and small businesses;
• BB&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,
variable-rate and index annuities, mutual funds, government and municipal bonds, and money market funds;
• BB&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;
• Stanley, Hunt, DuPree & Rhine (a division of Branch Bank) with dual headquarters in Greensboro, North
Carolina, and Greenville, South Carolina, which offers flexible benefit plans, and investment advisory, actuarial
and benefit consulting services;
• Prime 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;
• Grandbridge Real Estate Capital, LLC, based in Charlotte, North Carolina, which specializes in arranging and
servicing commercial mortgage loans;
• Lendmark Financial Services, Inc., located in Covington, Georgia, which offers alternative consumer loans to
clients unable to meet Branch Bank’s normal credit underwriting guidelines;
• CRC Insurance Services, Inc., based in Birmingham, Alabama, which is a wholesale insurance broker authorized
to do business nationwide; and
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