BB&T Insurance Services Acquires Givens & Williams Inc.

Strategic Insights -

BB&T Insurance Services, a subsidiary of BB&T Corporation, has announced its plan to acquire Givens & Williams Inc., an independent insurance agency in Fairfax, Va. The acquisition will give BB&T Insurance Services entry into the metropolitan Washington, D.C. market, expanding its presence in the region. The 16-year-old agency will operate as BB&T-Givens & Williams, with Patrick A. "Pat" Givens and Sidney H. "Woody" Williams continuing in their roles as agency managers.

Key Takeaways:

  • BB&T Insurance Services will acquire Givens & Williams Inc., an independent insurance agency in Fairfax, Va.
  • The acquisition will give BB&T Insurance Services entry into the metropolitan Washington, D.C. market.
  • The 16-year-old agency will operate as BB&T-Givens & Williams, with Patrick A. "Pat" Givens and Sidney H. "Woody" Williams continuing in their roles as agency managers.
  • The transaction is expected to be completed by the end of the month.
  • BB&T Insurance Services is the largest independent agency in the Carolinas and the 16th largest in the country, operating 34 agencies across four states: North Carolina, Virginia, South Carolina, and Georgia.
  • BB&T Corporation, a multi-bank holding company, operates 581 banking offices across five states: the Carolinas, Virginia, Maryland, and Washington, D.C.
  • Business Week magazine recently named BB&T the second highest performing bank in the nation.
  • BB&T and its subsidiaries offer a range of financial services, including full-service commercial and retail banking, investments, retail brokerage, leasing, and trust services.

Statistics:

  • 16 years: the age of Givens & Williams Inc., the independent insurance agency to be acquired by BB&T Insurance Services.
  • 34: number of agencies operated by BB&T Insurance Services across four states.
  • $37.8 billion: assets of BB&T Corporation, a multi-bank holding company.
  • 581: number of banking offices operated by BB&T Corporation across five states.
  • 25: number of agencies operated by BB&T Insurance Services in North Carolina.
  • 5: number of agencies operated by BB&T Insurance Services in Virginia.

Sources:

  • "BB&T Insurance Services Acquires Givens & Williams Inc.," BusinessWire, April 19 (no mention of publication date).
  • "BB&T Financial News," BB&T Corporation website.