BB&T completes Texas branch acquisition

WINSTON-SALEM, N.C., March 20, 2015 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) announced today it has completed its acquisition of 41 branches in Texas from Citibank. These branches will officially open as BB&T branches Monday, making BB&T the 14^th largest bank in Texas with approximately 121 branches and $5.1 billion in deposits.

The acquisition, which was announced in September 2014, includes retail branches in the Dallas, Houston, Midland and Odessa markets, including $2.2 billion in deposits and $81 million in loans based on Feb. 28, 2015, balances. BB&T received regulatory approval for the acquisition from the FDIC and the North Carolina Office of the Commissioner of Banks in February 2015.

"We are excited about the completion of this important transaction and look forward to making BB&T's unique brand of client service even more accessible to our Texas clients and prospects," said Chairman and Chief Executive Officer Kelly S. King. "The BB&T brand in Texas has grown dramatically in just a few years, and we are committed to the communities and clients in these markets. This transaction represents a strategically compelling addition to the 21 branches we acquired in June 2014."

The $1.2 billion in deposits and approximately $122 million in loans acquired previously are primarily in the fast-growing Austin, Bryan-College Station and San Antonio markets.

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $186.8 billion in assets and market capitalization of $28.0 billion, as of Dec. 31, 2014. Based in Winston-Salem, N.C., the company operates 1,880 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at BBT.com.

This news release contains certain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results may differ materially from current projections. Please refer to BB&T's filings with the Securities and Exchange Commission for a summary of important factors that may affect BB&T's forward-looking statements. BB&T undertakes no obligation to revise these statements following the date of this news release.

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SOURCE BB&T Corporation

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