In Brief: N.C.'s Southern National Buying Insurance Firm

WINSTON-SALEM, N.C. - Southern National Corp. said it had agreed to acquire the Poole Insurance Agency Inc., for an undisclosed amount in stock.

The agency will operate as BB&T-Poole Insurance and will continue to be located in Greensboro, N.C.

The agency will become part of Southern National's BB&T Insurance Services Inc., which will have offices in 23 cities in the Carolinas after the transaction is completed.

Frank R. Poole 3d, president of the Poole agency, will manage BB&T's new Greensboro insurance office.

H. Wade Reece, president of BB&T Insurance Services, said the acquisition should be completed by the end of the third quarter, subject to regulatory approvals.

Mr. Reece said BB&T Insurance Services plans to retain all five of Poole's employees. "Obviously, the addition of the Poole Insurance Agency will give us a significant presence in the Greensboro market when combined with BB&T's bank operations there," Mr. Reece said.

Southern National has $20 billion in assets.