BB&T 2013 Annual Report Download - page 9

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9
M
arket Area
The following table reflects BB&T’s deposit market share and branch locations by state:
Table 1
BB&T Deposit Market Share and Branch Locations by State
% of BB&T's
Deposits (2)
Deposit Market
Share Rank (2)
Number of
Branches (3)
N
orth Carolina (1) 23 % 2nd 358
Virginia 20 4th 365
Florida 15 6th 326
Georgia 11 5th 162
Maryland 7 7th 125
South Carolina 7 3rd 115
West Virginia 5 1st 78
Kentucky 4 4th 82
Alabama 4 4th 87
Tennessee 2 6th 52
Texas 1 37th 60
Washington, D.C. 1 7th 13
(1) Excludes home office deposits.
(2) Source: FDIC.gov-data as of June 30, 2013.
(3) As of December 31, 2013. Excludes two branches in Indiana.
BB&T operates in markets that have a diverse employment base covering numerous industries. Management strongly
believes that BB&T’s community bank approach to providing client service is a competitive advantage that strengthens the
Company’s ability to effectively provide financial products and services to businesses and individuals in its markets.
Furthermore, BB&T believes its current market area will support growth in assets and deposits in the future.
Competition
The financial services industry is highly competitive, and change continues to occur in all aspects of BB&T’s business.
BB&T’s subsidiaries compete actively with national, regional and local financial services providers, including banks, thrifts,
securities dealers, mortgage bankers, finance companies and insurance companies. Competition among providers of financial
products and services continues to increase, with consumers having the opportunity to select from a variety of traditional and
nontraditional alternatives. The industry continues to consolidate, which affects competition by eliminating some regional
and local institutions, while strengthening the franchises of acquirers. For additional information concerning markets,
BB&T’s competitive position and business strategies, and recent government interventions see “Market Area” above and
“General Business Development” below.
General Business Development
BB&T is a regional financial holding company. BB&T has maintained a long-term focus on a strategy that includes
expanding and diversifying its franchise in terms of revenues, profitability and asset size. This strategy has historically
encompassed both organic growth and acquisitions of complementary banks and financial businesses. During recent years,
BB&T has focused more on organic growth, but is well positioned for strategic opportunities.
Merger and Acquisition Strategy
BB&T’s growth in business, profitability and market share has historically been enhanced by strategic mergers and
acquisitions. Management intends to remain disciplined and focused with regard to future merger and acquisition
opportunities. BB&T will continue to assess bank and thrift acquisitions subject to market conditions, primarily within or
contiguous to BB&T’s existing footprint, and will pursue economically advantageous acquisitions of insurance agencies,
specialized lending businesses, and fee income generating financial services businesses. BB&T’s strategy is currently
focused on meeting the following three acquisition criteria: