Continuing its recent buying spree, BB&T Corp. said Wednesday that it has agreed to acquire a Morehead City, N.C., insurance agency.
The deal for Beam, Cooper, Gainey & Associates Inc. would give BB&T three additional offices in North Carolina. Terms of the deal, which is expected to close in August, were not disclosed.
The agency would be known as BB&T-Beam, Cooper, Gainey. John Gainey 3d would remain president.
BB&T has bought seven agencies since January and will continue to look for agencies in the Carolinas, Virginia, Maryland, and Georgia, said Wade Reece, the president of BB&T Insurance Services Inc.
"We do not have any agencies in Maryland at present, but we will begin to look in the near future," he said.
BB&T will probably buy more agencies before yearend, though the "timing is a little difficult to predict," he said.
BB&T Corp. of Winston-Salem, N.C., has $39.6 billion of assets. It runs 43 insurance offices: 24 in North Carolina, 15 in Virginia, three in South Carolina, and one in Georgia.