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BB&T PLANS INSURANCE MERGER WITH FAYETTEVILLE AGENCY

 FAYETTEVILLE, N.C., Nov. 30 ~PRNewswire~ -- BB&T Financial Corporation (NASDAQ: BBTF) today announced an agreement to merge its insurance operation with one of Fayetteville's leading independent insurance agencies.
 West Insurance and Associates, a fifteen-person independent agency headquartered in Fayetteville with two additional agency locations in Elizabethtown and Roseboro, will become part of BB&T Insurance Services under a definitive agreement announced Wednesday by officials of the Wilson-based bank holding company. Bill West is president of the Fayetteville 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 early in the first quarter of 1993.
 "The outstanding reputation Bill West has established in Fayetteville will enhance our efforts to expand our insurance network across the state," Reece said.
 Reece said BB&T plans to retain all fifteen West and Associates' employees. He said West will manage BB&T's new Fayetteville insurance office including the Elizabethtown and Roseboro locations. "Obviously, the addition of West Insurance and Associates will give us a significant presence in the Fayetteville market when combined with BB&T's bank operations there," Reece said.
 Allen White, president of BB&T's Sandhills 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 Fayetteville 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 Fayetteville area."
 West 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.
 West, 45, is a graduate of Methodist College with a bachelor of arts degree. He has achieved numerous insurance designations including CLU, CIC, and CPCU. He joined the agency in 1975.
 He is Military Affairs Liaison for Fayetteville Area Chamber of Commerce and the Treasurer as well as on the Board of Trustees of Fayetteville Academy, among numerous other civic and church-related activities.
 He and his wife, Iris, have three children: Billy, Mark and Elizabeth Anne.
 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 appropriate regulatory agencies.
 The addition of the BB&T-West Insurance Services agency gives BB&T Insurance Services offices in eleven North Carolina cities. The other ten cities are Aberdeen, Asheville, Charlotte, Gastonia, Greenville, Hickory, High Point, Raleigh, 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- 11~30~92
 ~CONTACT: Russell A. Thompson, Jr., Senior Vice President, BB&T Financial Corporation, 919-399-4210~
 (BBTF)


CO: BB&T Financial Corporation; West Insurance and Associates ST: North Carolina IN: FIN SU: TNM

SB -- CH005 -- 1875 11~30~92 11:14 EST
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Date:Nov 30, 1992
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