BB&T to Acquire Benefits Firm

January 14, 2002 ( - The latest planned acquisition by BB&T Insurance Services should help expand its employee benefit offerings, according to the company.

The Raleigh, North Carolina-based BB&T Insurance Services said it has completed talks to buy Professional Benefits Management Inc. of Greensboro, North Carolina. Company officials said the deal should be finalized by February.

The acquisition should not result in any layoffs for Professional Benefits Management, which will continue at its same location in Greensboro with all current employees, the companies said.

BB&T Insurance Services is a subsidiary of Branch Banking and Trust Company.