LEHIGH VALLEY, Pa., June 29, 2017 /PRNewswire/ -- BB&T (NYSE: BBT) today announced $1.45 million in grants to several Lehigh Valley organizations from the BB&T Economic Growth Fund at the Lehigh Valley Community Foundation. The donations will support manufacturing, create job pipelines, reduce blight and spur economic development through various additional initiatives.
"BB&T has a long history of supporting our local business and academic communities," said BB&T Community Banking Group Executive Scott V. Fainor. "We are proud to provide community leadership at this level, and we believe BB&T's investment will play a significant role in the future health and prosperity of the Lehigh Valley."
"It has been a true pleasure working with Scott Fainor and the leadership of the BB&T Economic Growth Fund in making these important investments in the growth of the Lehigh Valley," said Bernie Story, president and CEO of the Lehigh Valley Community Foundation. "We are delighted to have partnered with BB&T in assessing the many opportunities for support, and we know this effort will have an impact throughout the entire community. The Lehigh Valley Community Foundation is in a strong position to support efforts like this, and BB&T is to be commended for their commitment to the quality of life in the Lehigh Valley."
In conjunction with the BB&T/National Penn merger last year, $5 million was donated to two local foundations with the Lehigh Valley Community Foundation receiving $2.5 million to establish the BB&T Economic Growth Fund. The fund awards grants to initiatives that will improve the standard of living and economic health of the Lehigh Valley through business attraction and incubation, industrial growth and creation of sustainable and thriving wage jobs.
For a complete list of organizations receiving grants, program descriptions and the dollar amounts click here.
BB&T is one of the largest financial services holding companies in the U.S. with $220.5 billion in assets and market capitalization of $36.3 billion as of March 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 2,100 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T was recognized as one of Forbes' 2017 Best Banks in America and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.
About Lehigh Valley Community Foundation
For five decades, the Lehigh Valley Community Foundation has helped donors with their charitable contributions with a simple, powerful, and highly personalized approach. We are a philanthropic hub for the Lehigh Valley—we know and navigate the landscape of the Lehigh Valley's community needs to connect people who care to causes that matter. It is our mission to improve the quality of life in our region, to encourage collaboration among area philanthropists, and to serve as a source of information and expertise regarding charitable giving. Learn more by visiting us on the web at www.LVCFoundation.org.
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SOURCE BB&T Corporation