BB&T Insurance Services plans to expand its Florida operation with the acquisition of Wyman, Green & Blalock Inc. of Bradenton.
Founded in 1908, Wyman, Green & Blalock specializes in personal and commercial property insurance, liability risk management and employee benefits.
“To be able to partner with a regionally dominant agency like Wyman, Green & Blalock is a tremendous opportunity for us,” said Wade Reece, president of BB&T Insurance Services.
The transaction is expected to be completed in early December. Terms were not disclosed.
The agency will keep its staff and continue to operate from its offices in Bradenton and Lakewood Ranch, Fla., as BB&T-Wyman, Green & Blalock.
BB&T Insurance Services already operates Florida agencies BB&T-Landrum Yaeger in Tallahassee and BB&T-Iler, Wall & Shonter in St. Petersburg and Orlando.
Wyman, Green & Blalock President Greg Bustle and Vice President Corky Taylor will continue to manage business development and client relationships while Chief Operating Officer John Laurie will serve as agency manager.
BB&T Insurance Services is a wholly owned subsidiary of Branch Banking and Trust Company. Founded in 1922, it operates 81 insurance agencies in North Carolina, Virginia, Georgia, South Carolina, Maryland, West Virginia, Tennessee, Florida, Kentucky and Alabama.
Branch Banking and Trust Company is the principal subsidiary of Winston- Salem N.C.-based BB&T Corp. (NYSE:BBT) . W
Source: BB&T Corporation
Web site: http://www.bbt.com/
Topics Florida Mergers & Acquisitions
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