The “Branch” in Branch Banking and Trust refers not to the kind that dispenses money but to Alpheus Branch, who founded the predecessor to financial holding company BB&T Corp. in North Carolina in 1872. Not that the company certainly doesn’t operate plenty of branches 1,800 of them, as a matter of fact, plus more than 2,400 automated teller machines, in 12 states and the District of Columbia.
BB&T is one of the United States’ largest financial holding companies, controlling more than $174.6 billion in assets. Its banking subsidiaries, including flagship Branch Banking and Trust, are organized as a group of community banks, and generated revenues of approximately $11 billion during 2011, earning the No. 220 position on the Fortune 500. BB&T maintains headquarters in Winston-Salem, N.C., and has roughly 33,000 employees.
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