Established in 1872, BB&T is one of the largest financial services holding companies in the U.S. with $221.2 billion in assets and market capitalization of $36.7 billion as of June 30, 2017. 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. Based in Winston-Salem, N.C., BB&T operates over 2,100 financial centers in 15 states and Washington, D.C.
Locally, BB&T employs 130 associates and occupies 38,439 square feet of commercial space in the County, paying $249,315 in annual property taxes.
What do you foresee for your business and/or the economy in 2018?
We feel strongly that we are a reflection of the markets we serve and Frederick is a dynamic market with great potential. BB&T has enjoyed a presence here since 2001 and we are very excited about the future for Frederick County. We continue to believe the future is bright and Frederick’s geographic location make it an attractive market for business and residential growth over the long term. I see a very bright future for both BB&T and the market.
What would surprise people about your business?
The investment we make in our markets is probably what would be the most surprising. We hold an annual Lighthouse project where we encourage our associates to go out in the market and roll up their sleeves for an organization of their choice. It’s a great teamwork exercise but it also allows us to get really close to our market. While this started just after the great recession as an idea of our CEO, today we have touch over 13 million lives and volunteered over 475,000 hours throughout our footprint. This is above and beyond the normal volunteering and philanthropic efforts we participate in on an annual basis.
Why did you choose Frederick County as a business location?
Back in 2000, FCNB was a community bank looking for a strategic partner. After considering several options BB&T was selected as the best path forward for a merger and this was a very attractive market for BB&T. Since that time BB&T has enjoyed solid growth and investing back into a great community.
What is keeping your business in Frederick County?
We made a commitment to Frederick County when we entered the market in 2001 and our Vision and Mission pretty much support our long term outlook for Frederick. Our Mission is a worthy one-we perform honorable work. We provide the capital and counsel that foster business investment and economic growth, which in turn creates jobs. We help individuals realize their dreams. All of this is accomplished through sharing knowledge, providing insight, and delivering a strong value proposition. And when we are successful, all of our constituents benefit.
What awards or accolades do you want to brag about?
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.
About Frederick’s Top 50
Frederick’s Top 50 for 2018 marks an inaugural list of businesses who have the largest potential to contribute to Frederick County’s vibrant economy. The metrics-driven list was created by OED with assistance from Hood College, using research from InfoUSA, tax records, CoStar and internal data collection. Data was analyzed using a weighted scoring system in the following areas: Number of Employees in Frederick County, Annual Property Taxes Paid, Square Footage Occupied in Frederick County, Location Sales Volume and Year Established.