BB&T completes National Penn conversion
National Penn clients now have access to new and expanded services and products
WINSTON-SALEM, N.C., July 18, 2016 /PRNewswire/ — BB&T Corporation (NYSE: BBT) today announced the successful completion of its National Penn conversion including core systems, products and most signage changes. After a weekend of conversion activity, 108 branches in Pennsylvania, Maryland and New Jersey opened today (Monday) under the BB&T banner.
“This is the final step uniting two outstanding companies and cultures,” said Chairman and Chief Executive Officer Kelly S. King. “Clients will be served by the same bankers they have grown to know and trust in these markets. Our community banking approach, led by our outstanding local leadership that understands these markets, can now combine their superior service and local knowledge with the expanded resources of a one of the strongest financial institutions in the country.”
BB&T’s footprint is made up of 26 autonomous community bank regions – each with its own president – to leverage local market experience and keep decisions local and close to the clients. Clients now have access to an expanded network of more than 2,200 branches and more than 3,000 ATMs. Beyond BB&T’s retail offerings, clients have access to a full range of financial services including commercial banking, wealth management, insurance, international services, commercial finance, mortgage servicing, asset management and capital markets.
“In addition to expanded products and services, clients now have access to our best-in-class digital banking platform, U by BB&T,” King added. “This allows clients to see all their accounts and financial information in one place.”
Other features include the ability to view accounts from other financial institutions, set financial goals and track your progress, as well as make person-to-person payments regardless of where the other person banks. A video demonstration of U by BB&T’s features can be seen here. U by BB&T is available for download on the iTunes App Store and Google Play. For more information, visit BBT.com/U.
Associates have trained for months to ensure a smooth transition for clients. As part of BB&T’s long-time conversion process, “merger buddies,” experienced BB&T associates from throughout the company’s footprint, will be in place for the next two weeks assisting new associates during the transition process.
The National Penn acquisition, which was announced in August 2015, included approximately $9.6 billion in assets and $6.7 billion in deposits as of Dec. 31, 2015.
BB&T is one of the largest financial services holding companies in the U.S. with approximately $212.4 billion in assets and market capitalization of approximately $26.0 billion as of March 31, 2016. Based in Winston-Salem, N.C., the company operates 2,263 financial centers in 15 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. BB&T has also been named one of the World’s Strongest Banks by Bloomberg Markets Magazine, one of the top three in the U.S. and in the top 15 globally. More information about BB&T and its full line of products and services is available at BBT.com.
SOURCE BB&T Corporation