We recognize that any business closing can be an emotional issue for a community. For that reason we do not take the decision to close a financial center lightly. We have implemented a rigorous process whereby we continually review and evaluate the viability, convenience and physical conditions, among other factors, of our financial centers. We do this to ensure all our financial centers meet our clients’ needs, provide a leading role in the community and maintain our responsibility to shareholders.
One of our greatest concerns is the effect that closing a branch has on the local community. We realize that a bank can serve as a financial center and a community cornerstone. We are very sensitive to the inconvenience and impact of this action and it is only after extensive analysis that we make the difficult decision to close.
For several years, BB&T reviewed the business strength of our financial center in Glasgow, Va. Based on many factors, including client usage patterns, the decision was made to close the branch. Our Glasgow clients are able take advantage of a number of convenient services including: Phone24, online banking at BBT.com or BBT.mobi via the BB&T Mobile App. In addition, the Buena Vista, Va., financial center is approximately eight miles from the Glasgow branch and we continue to serve our clients there.
There were no layoffs as a result of the Glasgow branch closing.
David R. White
Vice President Corporate Communications