BB&T Makes $17.4 Million Philanthropic Commitment to Winston-Salem and the Piedmont Triad
Amount doubles company's annual community giving over a three-year period
Jun 5, 2019
WINSTON-SALEM, N.C., June 5, 2019 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) today announced a significant community commitment by pledging $17.4 million in philanthropic giving for Winston-Salem and the Piedmont Triad between 2019 - 2021, doubling its annual investment made to the region in the prior three-year period.
The bank will fulfill its commitment over the next three years by funding and partnering with non-profit, community organizations that are making a meaningful and measurable difference throughout the Piedmont Triad, specifically in the areas of affordable housing, workforce and economic development, financial wellness, health and human services, and access to the arts.
"Our growth has been fueled by the support of this region, so we believe in strongly supporting this region in return," said BB&T Triad Regional President J. Cantey Alexander. "When we announced our planned merger with SunTrust earlier this year, we also pledged to increase our giving and investments. Today's announcement solidifies that pledge with a substantial commitment amount that carries tremendous power to positively impact people's lives and make our community a better place to live."
BB&T's $17.4 million commitment builds on several significant philanthropic investments made recently to non-profit organizations serving the Piedmont Triad, including:
- $750,000 for Habitat for Humanity of Forsyth County's BB&T Challenge Initiative, a commitment providing $25,000 per Habitat house over the next three years, for a total of 30 houses. This is the largest gift ever received in the 31-year history of Habitat Forsyth.
- $250,000 for the Piedmont Land Conservatory to preserve natural and scenic lands, farms and open spaces in Piedmont North Carolina, enriching the quality of life for future generations.
- $200,000 for Bennett College to support its mission of preparing women of color through a transformative liberal arts education to lead with purpose, integrity, and a strong sense of self-worth.
BB&T is one of the largest financial services holding companies in the U.S. with $227.7 billion in assets and market capitalization of approximately $35.6 billion as of March 31, 2019. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 1,800 financial centers in 15 states and Washington, D.C. and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.
SOURCE BB&T Corporation
For further information: Brian Davis, Senior Vice President, BB&T Corporate Communications, Media@BBT.com; David White, Vice President, BB&T Corporate Communications, Media@BBT.com
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