WINSTON-SALEM, N.C., June 20, 2017 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) today announced it has officially renamed the former Susquehanna Commercial Finance (SCFi) unit as BB&T Commercial Equipment Capital (CEC). The bank completed its acquisition of Susquehanna Bancshares Inc. (NASDAQ: SUSQ) effective Aug. 1, 2015. Since the acquisition, SCFi has operated as a division of Branch Banking and Trust Company and will continue to do so.
"We are excited to announce our change to the BB&T brand and leverage the superior value of its reputation. BB&T offers a wide breadth financial products and services and as one of the world's strongest banks, it provides our company a solid and stable platform for sustainable growth," said CEC President Robert Boyer. "With a majority of the merger-related processes behind us, we are now able to focus on executing the growth strategy for the business."
Founded in 1998, CEC is a specialized team of 72 client service professionals who manage more than $1 billion in assets. The group provides financing for commercial equipment and software nationally for businesses, nonprofits and municipalities. They prefer to think of themselves as generalists although the sales team has specialties in vendor, health care, franchise, industrial equipment and transportation. The team is based in Malvern, Pa., and originates loans and leases in all 50 states.
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.
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SOURCE BB&T Corporation