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BB&T reinforces commitment to eastern North Carolina

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BB&T reinforces commitment to eastern North Carolina

Announces plans for new 95,000-square-foot downtown Wilson facility

PR Newswire

WINSTON-SALEM, N.C., Aug. 29, 2018 /PRNewswire/ -- BB&T Corporation (NYSE:BBT) today announced it will build an approximately 95,000-square-foot office facility on Pine Street in downtown Wilson, N.C. The new $35 million building will accommodate 650 BB&T associates who are currently working in the twin buildings at 223 West Nash St. or elsewhere in Wilson. BB&T expects to begin site work on the project before year-end and construction to take place throughout 2019 with an opening date yet to be determined.

"We are very excited to build this new facility in the heart of downtown Wilson and play a part in the city's ongoing revitalization efforts," said BB&T Chairman and Chief Executive Officer Kelly S. King. "As the birthplace of BB&T in 1872, Wilson will always be home for BB&T."

The new facility will be built on property BB&T currently owns, located directly behind the towers on West Nash Street and bordered by Pine and Broad streets. BB&T will obtain an additional tract of land adjacent to its current Broad Street parking lot from the City of Wilson. BB&T is also working with city officials to identify uses for the property currently occupied by the West Nash Street buildings. When the project is completed, BB&T anticipates the land will be obtained by the city or another agency for use in a manner that supports revitalization of downtown Wilson.

"BB&T has been a major contributor to Wilson's success for decades," said Grant Goings, Wilson city manager. "Their strong leadership, exemplary culture and loyalty have become part of the fabric of our community. This investment not only reinforces BB&T's commitment to Wilson but also complements our efforts in downtown redevelopment and innovation, and will serve as a catalyst for further progress that should benefit both the bank and the community."

Over time, BB&T's workforce in Wilson has grown to approximately 2,200 associates working in a variety of lines of business and has been consistent at this level since 2012.

"The City of Wilson has always been a special place for BB&T, and we are delighted to provide development that will positively impact the community," said BB&T Northeastern Regional President Scott Evans. "We have a great partnership with the city's leadership team and commend all of them for their vision and hard work to make this project a reality."

Constructed in 1971 and 1985 as BB&T's corporate headquarters, the twin buildings on Nash Street will be demolished after completion of the new office facility. "The twin buildings need considerable updating, repair and renovation," Evans added. "After carefully assessing their condition, the only feasible solution was to build a new facility."

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $222.7 billion in assets and market capitalization of approximately $39.1 billion as of June 30, 2018. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 1,900 financial centers in 15 states and Washington, D.C. and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.

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SOURCE BB&T Corporation

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