July 25, 2014 8:01 PM ET

Banks

Company Overview of Branch Banking and Trust Company

Company Overview

Branch Banking and Trust Company, through its subsidiaries, provides consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services in the United States. The company offers personal products, such as checking accounts, check cards, prepaid debit cards, gift cards, credit cards, savings accounts, and certificates of deposit; retirement and investment services; home mortgages, home equity loans, and personal loans; property, vehicle, life, health, and accident insurance services; and online banking, mobile banking, online investing, online tax payment, and email encryption services. It also provides business banking services, which compri...

200 West Second Street

Winston-Salem, NC 27101

United States

Founded in 1872

Phone:

336-733-2500

Fax:

336-733-2509

Key Executives for Branch Banking and Trust Company

President
Age: 64
Chairman
Age: 65
Head of Middle Tennessee Operations
Age: 39
Executive Vice President
Age: 52
Executive Officer
Compensation as of Fiscal Year 2014.

Branch Banking and Trust Company Key Developments

BB&T Bank Announces to Close its Roanoke Call Center Next Summer

BB&T bank announced that it will close its Roanoke call center next summer, affecting about 140 employees. The bank said it will make every effort to place the affected employees in other positions at bank. Severance packages and job counseling services will be offered to employees who are still working at the center on Coulter Drive near the Roanoke Blacksburg Regional Airport when it closes in the summer of 2015.

The Fifth District Court of Appeal Rules in Favor of Consolidated-Tomoka Land Co

On October 29, 2013, the Fifth District Court of Appeal ruled in favor of Consolidated-Tomoka Land Co., in the appeal entitled Branch Banking and Trust Company v. Consolidated-Tomoka Land Co., Case No. 5D12-3323, Fifth District Court of Appeal for the State of Florida. The Court affirmed a final judgment in favor of Consolidated Tomoka which held that the company's lien of approximately $3.8 million (plus interest) against an approximately 600 acre parcel of residential land (lying west of I-95 near the LPGA International development and adjacent to Bayberry Colony) is superior to the mortgage of BB&T. Presently, the judgment has accrued to over $4.6 million, including interest. This decision is subject to possible motion for a rehearing by BB&T.

Branch Banking and Trust Strikes Back on Patent Suit

Branch Banking and Trust was hit with a patent infringement claim in June 2012 by Maxim Integrator. The company also sued other banks including Capital One and Bank of the West, as well as Starbucks and Walmart for the same reason. Maxim claims they violate a patent it holds on the idea of electronically transferring value from a source to a recipient through an electronic device and recalculating the balance on the source account. BB&T this week decided to challenge the patent. The bank filed a petition for a Covered Business Method review-it has asked the Patent Trial and Appeal board to reconsider the merits of Maxim's original patent through the legal firm Ropes & Gray. A second reason Myers believes Maxim's patent should be canceled: two other companies already had patents on this idea, Motorola and Casio. Motorola's is for an electronic wallet and the movement of information onto and off of that wallet as part of cash and purchase transactions. Casio's is for an integrated circuit card that can communicate with a bank's computer through an ATM or with a purchaser to buy goods.

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