In contrast to its more ambitious plan to expand in Florida through acquisitions, BB&T Corp. is taking a measured approach to growth in Texas.
The Winston-Salem, N.C., company, which entered Texas in 2009 when it bought the failed Colonial Bank in Alabama, has asked regulators for permission to open branches in San Antonio and Fort Worth, the Winston-Salem Journal reported Wednesday. The $162 billion-asset company currently has 25 branches in Texas, but none in those two cities.
Ricky Brown, BB&T's community banking president, told the Winston-Salem Journal that the company wants to expand in Texas primarily by adding branches in metropolitan, business-oriented markets. In November, the company announced plans to open two branches in Austin, where it already has three branches, and another in Frisco.
Its approach in Texas differs greatly from that in Florida, where BB&T will inherit nearly 80 branches with its pending deal for BankAtlantic Bancorp in Fort Lauderdale. BB&T is also rumored to be among the bidders for Miami Lakes-based BankUnited, which recently put itself on the block.
BB&T has not commented publicly on the BankUnited rumors.