Concord University News
For Immediate Release: 
Oct 09 2003

BB&T CEO to Headline Fundraiser for Concord College in Charleston, Tuesday, November 18

Athens, W. Va. – Mr. John A. Allison IV, chairman and CEO for BB&T will be the keynote speaker at the 2003 Charleston Fund for Concord College Dinner, Tuesday, November 18, 2003 at Embassy Suites.

Mr. Allison has been with BB&T since 1971 and has managed a wide variety of responsibilities throughout the bank. He became president of BB&T in 1987 and was elected chairman and CEO in July of 1989. He received his B.S. in Business Administration from the University of North Carolina at Chapel Hill, and received an M.B.A. from Duke University. He is affiliated with numerous banking and education associations including the American Bankers Association, Independent College Fund, Wake Forest University Baptist Medical Center and the North Carolina Business Council of Management and Development.

BB&T Corporation, headquartered in Winston-Salem, N.C., is a fast growing, highly profitable financial holding company with more than $91 billion in assets. Its bank subsidiaries operate more than 1,400 branch offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Alabama, Indiana, Florida and Washington, D.C. BB&T ranks No. 2 in market share in North Carolina, No. 3 in South Carolina, No. 4 in Virginia, No. 1 in West Virginia, No. 6 in Georgia, No. 7 in Maryland, No. 3 in Kentucky and No. 5 in Washington, D.C.

BB&T's operating strategy distinguishes it from other financial holding companies. BB&T's banking subsidiaries are organized as a group of community banks, each with a regional president, which allows decisions to be made locally, close to the customer. This also makes BB&T's customer service more responsive, reliable and empathetic.

Since 1989, BB&T has completed the acquisition of 55 community banks and thrifts, more than 70 insurance agencies and 21 non-bank financial services companies. This acquisition strategy has contributed significantly to BB&T's success.

The company recently completed its $3.05 billion purchase of First Virginia, its largest acquisition ever, in early July.

Andrew Paterno (Concord College class of ’70), CEO for Acordia of West Virginia is serving as chair for this year’s dinner. Loretta Ann Young, associate vice president for development for Concord College, is also on the committee. Ms. Young is the executive director for the College’s Foundation.

Concord President Jerry Beasley: “Budgets for higher education have been slashed in recent years; there is a dire need for support from the College’s alumni and friends to strengthen existing programs and develop new ways to meet student’s needs. BB&T is a strong corporate partner in our efforts to rally for support of higher education.”

The reception for the event begins at 6 p.m. with dinner at 7 p.m. Individual tickets for the event are $100. Tables are available for $1,000, $2,500 and $5,000. For more information, contact the Office of Development, 1-304-384-5317 or devly@concord.edu.

-CC-

PO BOX 1000, VERMILLION ST., ATHENS, WV 24712.