Bbt consolidating regions
Currently, BB&T offers a comparatively higher dividend yield vs.its peers, but there's still enough room for improvement in the payout ratio.
BB&T Corp.'s $1.8 billion acquisition of Allentown's National Penn Bancshares Inc. BB&T Corp.'s $1.8 billion acquisition of Allentown's National Penn Bancshares Inc. (Anthony Salamone)Additionally, five closures will be in Berks County and four will be in Montgomery County.The number closed represents about 3.9 million square feet.Beyond banks' declining need for space, the trend is reshaping how and where banks grow and operate.The record high earnings of the bank were attributed to its excellent cost-containment strategies.However, the cost cuts failed to support the net interest margin, which saw a downturn to 3.39% in Q3 vs. However, the margin marked a surge higher from 3.35% in Q3 of the previous year. The bank completed a series of acquisitions in the past two years in order to not only set off its organic balance sheet growth but also to expand its market share in different regions."I am truly excited about the prospect of working with our outstanding team and clients in this region," Hughes said.
"This is a very strategic and important market for BB&T, and I am confident we will continue to build upon the growth and momentum the Greater Washington Region has worked so hard to establish through outstanding and consistent client service." Waetjen, 66, has more than 44 years of financial services experience.
"His expertise, proven leadership skills and diverse financial services background will be a tremendous asset to the region.
We are extremely fortunate to have Jodie move into this important role." Hughes, 47, has more than 20 years of banking experience.
"He established a distinguished banking career, and we wish him all the best as he begins this next chapter in his life." Waetjen earned his bachelor's degree in economics from market for 20 years, and I have been privileged to lead the organization the last 10 years," Waetjen said. 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.
"Our brand and reputation are strong, and I'm very proud of the BB&T associates who care deeply about our clients and each other." About BB&TBB&T is one of the largest financial services holding companies in the U. Based in A Fortune 500 company, BB&T was recognized as one of Forbes' 2017 Best Banks in America and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking.
He joined BB&T in 1996 as a business services officer and has served as senior credit officer in and is a graduate of the Stonier Graduate School of Banking.