UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 8-K

Current Report

 

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

April 18, 2019

Date of Report (Date of earliest event reported)

 

 

BB&T Corporation

(Exact name of registrant as specified in its charter)

 

 

 

North Carolina   1-10853   56-0939887

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

200 West Second Street
Winston-Salem, North Carolina   27101
(Address of principal executive offices)   (Zip Code)

(336) 733-2000

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

ITEM 8.01.

Other Events.

On April 18, 2019, BB&T Corporation (the “Company”) issued a press release announcing that the Board of Governors of the Federal Reserve System has terminated its Cease and Desist Order with the Company related to the Company’s anti-money laundering program.

A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference into this Item 8.01.

 

ITEM 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit No.

 

Description of Exhibit

99.1   Press Release issued April 18, 2019

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

BB&T CORPORATION

           (Registrant)
By:  

/s/ Cynthia B. Powell

Name:  

Cynthia B. Powell

Title:  

Executive Vice President and Corporate

Controller (Principal Accounting Officer)

Date: April 18, 2019

 

LOGO    BB&T Corporation
  

Corporate Communications

2400 Reynolda Road

Winston-Salem, N.C. 27106

 

LOGO

April 18, 2018

FOR IMMEDIATE RELEASE

Contacts:

 

Richard Baytosh

Senior Vice President

BB&T Investor Relations

(336) 733-0732

RBaytosh@BBandT.com

  

Brian Davis

Senior Vice President

BB&T Corporate

Communications

Contact via email

BB&T announces FRB termination of AML-related consent order

WINSTON-SALEM, N.C. – BB&T Corporation (NYSE: BBT) today announced the Board of Governors of the Federal Reserve System has terminated its Cease and Desist Order with BB&T Corporation related to BB&T’s anti-money laundering (AML) program. No money laundering activity was identified and no financial penalty was levied in relation to this order.

“We are very pleased with the Fed’s announcement,” said BB&T Chairman and Chief Executive Officer Kelly S. King. “Since 2016, our highly experienced AML team has worked tirelessly to ensure our BSA/AML program meets and exceeds all required standards. Their efforts, along with our significant investments in technology and process improvements, have positioned us well for the future.”

In June 2018, BB&T announced that the Federal Deposit Insurance Corporation and the North Carolina Office of the Commissioner of Banks terminated their joint consent order with Branch Banking and Trust Company, similarly related to the bank’s AML program.

About BB&T

BB&T is one of the largest financial services holding companies in the U.S. with $227.7 billion in assets and market capitalization of approximately $35.6 billion as of March 31, 2019. 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 1,800 financial centers in 15 states and Washington, D.C. 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.