BB&T Bank, based in Winston-Salem, N.C., is a relative newcomer to this area, but the mission-driven financial institution has already made a positive impact on the lives of several residents of Montgomery County.
Founded in 1872 and known officially as Branch Banking and Trust Company, the bank operates more than 2,100 financial branches in 15 states. BB&T became established in Pennsylvania as a result of its acquisition of Susquehanna Bank in 2015 and National Penn Bank in 2016. Those two purchases added 364 branches and about $29 billion in assets in Pennsylvania, New Jersey, and Maryland.
Recognized by Forbes as one of the Best Banks in America in 2017, BB&T offers clients a comprehensive range of financial services, including retail, commercial, and corporate banking, insurance, mortgages, investments, wealth and asset management, capital markets, and specialized lending.
Joseph Calabro, BB&T’s Market President in West Chester, says his bank has even more to offer the community, beginning with a culture that guides the decisions of each employee.
“At BB&T, every associate is ingrained with a vision, a mission, and values,” he said. “Our vision is to create the best financial institution possible, and our mission is to make the world a better place to live in.
“We can do this by helping our clients achieve economic success, and creating a place where our associates can learn, grow, and be fulfilled in their work. That, in turn, makes the communities in which we work better places to be.”
The bank believes it can fulfill its mission while being consistent to its 10 core values, which are integrated into a framework of
- character (honesty, integrity)
- judgment (reality, reason, independent thinking)
- success (productivity, teamwork, justice)
- happiness (self-esteem, pride)
“We have a deep-rooted culture and mission that has been in place for decades and is unwavering,” said Mike Rainone, the Market President in King of Prussia who’s responsible for all of Montgomery and Bucks counties.
“Our leadership is deeply committed to getting the message out and reinforcing it among the associates.
“We believe that when each associate buys into carrying out this vision and this mission, it is the best way to do business and a way we can make an impact. We adhere to this each and every day, and it carries through not only to the associates, but to our clients and, most importantly, into the community.”
According to Calabro, BB&T’s acquiring of community banks “assures that the employees live and work in the communities and are committed to providing a service to those communities.”
Evidence of that commitment to Chester and Montgomery counties has been witnessed the past two years through BB&T’s Lighthouse projects. These community-based projects are staffed by employee volunteers who donate their time to various charities.
Local BB&T branches serve their communities in other ways as well, through leadership development, United Way support, and by promoting financial literacy.
BB&T currently operates 22 branches in Chester County and 17 in Montgomery County. Click here to find the one nearest you.