DALLAS, Nov. 1, 2012 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) announced today it is continuing its expansion in Texas and will open 30 new financial centers focusing on commercial and small business lending. The branches, which will be in Dallas/Fort Worth, Houston, San Antonio and Austin, will double BB&T's banking presence in Texas. BB&T expects to open most of the financial centers during 2013. The branch openings are subject to regulatory approval.
"The BB&T brand is gaining great traction in Texas, and our success with the community bank has been truly phenomenal," said BB&T Texas Region President Kay St.John. "Our deposits in Texas have grown by 68 percent since 2009, and our loan portfolio stands at $1.65 billion. These four cities are densely rich commercial and small business markets representing many of the highest potential growth areas within BB&T's entire footprint."
BB&T expects to open approximately 11 new branches in Dallas/Fort Worth, 11 in Houston, and up to four in each Austin and San Antonio. This represents an investment of more than $40 million and will target vacated properties such as former bank branch and office locations rather than new construction. The expansion initially will result in approximately 150 new jobs, and this number is expected to increase as BB&T continues to grow in the state, according to St.John.
"We believe this expansion will help local economies not only in the short-term, with the build-out of the new financial centers, but long-term as BB&T continues to expand and grow organically," St.John said.