WILSON’S LOCAL PRINT AND DIGITAL COMMUNITY INSTITUTION SINCE 1896

BB&T progressing on building, merger

Thank you for being one of our most loyal readers. Please consider supporting community journalism by subscribing.

Posted

It has been just over a year since BB&T announced the investment of $35 million in a new downtown building, and construction is going well, officials said.

“We continue to make good progress on the new Wilson building. All steel construction and fireproofing is complete, and concrete floors have been poured on the first through fourth floors,” said David White, vice president of corporate communications. “We have started exterior and interior framing, and shaft ductwork for the HVAC is underway.”

White said construction is anticipated to be complete by the third quarter of 2020. The 95,000-square-foot facility will house 650 employees and replace the aging towers along Nash Street.

“Like many others, the chamber is anxiously anticipating the impact the new BB&T facility will have on the future of historic downtown Wilson,” said Ryan Simons, Wilson Chamber of Commerce president. “The facility is more than just a multi-million dollar physical improvement; it keeps employees and bank clients downtown and contributing to the local economy.

“It reaffirms the bank’s commitment to their hometown, and once their current location is vacated, it creates even more space for future development. Most importantly, it adds to the swelling momentum of a downtown core ready to reach its potential.”

While BB&T was founded in Wilson, the bank relocated the headquarters to Winston-Salem more than 20 years ago. While the company still retains more than 2,000 employees in Wilson, the February announcement BB&T was merging with SunTrust gave many local residents doubts. In June, BB&T and SunTrust announced the name of the combined bank would be Truist.

“Until the proposed merger of equals closes, BB&T and SunTrust continue to operate as separate, individual companies,” White said. “We expect the transaction to close late in the third quarter or in the fourth quarter of this year, pending regulatory approvals.”

White said changing the signs on bank buildings likely won’t happen for another year to 18 months after the merger is approved.

Comments