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BB&T (BBT) in Winston-Salem, N.C., has given itself some breathing room for finding replacements for its board.
August 30
BB&T (BBT) in Winston-Salem, N.C., has been closing branches across its network, but is planning to expand its presence in Texas by nearly 50%.
The $177 billion-asset company closed 43 branches in 2013, according to a
Separately, the bank is in the process of opening 30 new branches in Texas, the spokesman said Wednesday. BB&T currently has 58 locations in the state, and 1,866 throughout the United States, according to the Federal Deposit Insurance Corp.
The branch closures were part of the bank's ongoing, years-long review of its branch network, and the decision to shutter the 43 branches was based on several factors, including traffic, according to a statement provided by the BB&T spokesman.
"We recognize that any business closing can be an emotional issue for a community [and] we do not take the decision to close a financial center lightly," the statement read. "Based on many factors, including client usage patterns, the decision was made to close some branches this year."
In May, BB&T