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BB&T PLANS INSURANCE MERGER WITH ROCKY MOUNT AGENCY

 ROCKY MOUNT, April 29 /PRNewswire/ -- BB&T Financial Corporation (NASDAQ-NMS: BBTF) announced an agreement to merge its insurance operation with one of Rocky Mount's leading independent insurance agencies.
 Wilkinson, Bulluck and Company, a seventeen-person independent agency headquartered in Rocky Mount, will become part of BB&T Insurance Services under a definitive agreement announced Wednesday by officials of the Wilson-based bank holding company. Blarnie T. Tanner, Jr., is resident of the Rocky Mount agency.
 BB&T Financial Corporation is the parent company of Branch Banking and Trust Company, North Carolina's oldest bank, and BB&T of South Carolina.
 H. Wade Reece, senior vice president and manager of BB&T Insurance Services, headquartered in Raleigh, said the acquisition should be completed by the end of the second quarter of 1993.
 "The outstanding reputation Blarnie Tanner has established in Rocky Mount will enhance our efforts to expand our insurance network across the state," Reece said.
 Reece said BB&T plans to retain all seventeen Wilkinson Bulluck employees. He said Tanner will manage BB&T's new Rocky Mount insurance office. "Obviously, the addition of Wilkinson, Bulluck and Company will give us a significant presence in the Rocky Mount market when combined with BB&T's bank operations there," Reece said.
 Max Crowe, president of BB&T's Eastern Region, said the merger of insurance operations will enhance the bank's overall effort. "Having a local insurance operation will provide us with significant new exposure in the Rocky Mount area. At the same time, we will be adding to our team some outstanding professionals in the insurance field. We are very excited about the people and products serving our customers in the Rocky Mount area."
 Tanner said the transaction will allow him to provide a wider range of products and continue to offer high-quality service to existing and prospective customers. "We're excited about joining forces with BB&T and enthusiastic about BB&T's plans for future growth," he said.
 Tanner, 52, is a graduate of East Carolina University. He is very active with the First United Methodist Church and a member of the Rocky Mount Board of Realtors.
 He and his wife, Olivia, have two children Thomas and Lucy.
 To complete the acquisition, BB&T Financial Corporation plans to issue shares of its common stock. Completion of the transaction is subject to the approval of the appropriate regulatory agencies.
 The addition of the BB&T-Wilkinson Bulluck Agency give BB&T Insurance Service Offices in 15 North Carolina cities. The other communities are Aberdeen, Asheville, Charlotte, Elizabethtown, Fayetteville, Gastonia, Greenville, Hickory, High Point, Mount Airy, Raleigh, Roseboro, Sanford and Wilson.
 Through its subsidiary banks, BB&T Financial Corporation operates 217 offices in 116 cities and towns in the two Carolinas and has total assets in excess of $6.7 billion.
 -0- 4/29/93
 /CONTACT: H. Wade Reece, Senior Vice President, BB&T Insurance Services, 919-831-2165/
 (BBTF)


CO: BB&T Financial Corporation ST: North Carolina IN: FIN INS SU: TNM

SB-MM -- CH018 -- 2886 04/29/93 17:06 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
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