BB&T Corp. said Monday that it has a deal to buy Kay & Co., a Lumberton, N.C.-based independent insurance agency.

BB&T has bought eight agencies since January, said a spokesman for the $40.8 billion-asset banking company in Winston-Salem, N.C. Terms of the most recent deal, which is expected to close next month, were not disclosed.

David Walker, president of Kay & Co., would become a vice president of BB&T Insurance, which operates 45 offices in North Carolina, Virginia, South Carolina, and Georgia.

-- Cheryl Winokur

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