Oct 02, 1997

WINSTON-SALEM, N.C. -- BB&T Corporation (NYSE: BBK) announced today it has completed the acquisition of the investment banking firm Craigie Incorporated of Richmond, Va. Craigie Incorporated, established in 1929, will continue to operate under its name as an autonomous subsidiary of BB&T.

“Diversification into the investment banking business is one of the ways in which BB&T is expanding its product line in an evolving financial services industry,” said BB&T Chairman and CEO John A. Allison. “With Craigie’s proven record of superior underwriting and advisory services, as well as overall sales, trading and operations, we can expect excellent customer service to BB&T’s corporate and municipal clients.”