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Business & Economy
Fri August 17, 2012
BB&T Expands Banking to South Florida
Winston-Salem-based BB&T is moving forward with plans to expand its banking operations in southeast Florida.
Leoneda Inge: BB&T is one of the oldest and largest banks under the state’s banking supervision. Ray Grace is North Carolina’s Acting Commissioner of Banks. He says acquiring Bank Atlantic restores the luster to BB&T’s image as a growing institution after PNC’s acquisition of RBC.
Ray Grace: Many in the market thought that that was an opportunity that BB&T missed, although some observers are now saying that that was actually a measure of their discipline and patience in the marketplace.
Federal banking regulators took their time in approving the acquisition of Bank Atlantic of Florida by BB&T. Reports say The Federal Reserve wanted to investigate a home lending discrimination complaint they later ruled baseless.