WINSTON-SALEM, N.C.,
Dec. 1, 2016 /PRNewswire/ -- BB&T
today announced it has donated three office buildings with a
combined approximate market value of more than $750,000 to the Borough of Boyertown in Berks
County, Pa. The former National Penn properties came into
BB&T's possession after its acquisition of National Penn in
April 2016. The buildings, one
located at 16 West Philadelphia Ave. and two at 23 South Reading
Ave., will be used for borough offices and by the Boyertown Police Department.
All three buildings are in "ready-to-move-in" condition and
include some office furniture. An adjoining parking lot is also
part of the donation.
BB&T Community Banking Group Executive Scott V. Fainor also announced BB&T has
awarded a $120,000 grant to Building
a Better Boyertown through its BB&T Economic Growth Fund of
Berks County Community Foundation. The grant will support the
Downtown Boyertown Community Vision and Implementation Plan.
"When we announced the merger of National Penn and BB&T in
August of 2015, we committed $5
million for setting up two local community foundations to
invest in local economic development opportunities," Fainor said.
"We are delighted to make the first disbursement to support
Building a Better Boyertown and look forward to seeing the impact
it will have on future economic growth and progress."
The Berks County Community Foundation and the Lehigh Valley
Community Foundation each received $2.5
million in connection with the BB&T/National Penn
merger. The funds allow both foundations to primarily support
charitable projects and initiatives that support economic
development efforts in Berks
County and the Lehigh
Valley, respectively.
To celebrate the building donations and grant award, BB&T
held a ribbon-cutting ceremony and reception at the Philadelphia
Avenue property. Fainor led the event, which was attended by
Boyertown Mayor Marianne V. Deery, Boyertown Council President
Frank Deery, Boyertown Police Chief Barry Leatherman, Director of Constituent
Services Jason Carver representing
U.S. Rep. Ryan Costello, Chief of
Staff Lisa Walter representing state Sen. Bob Mensch, state Rep. David Maloney, BB&T representatives and
other local officials.
"BB&T's continual generosity to our residents is again
evident by its donation of these buildings to the borough," Deery
said. "These properties will provide much-needed space to serve our
residents more efficiently and effectively."
"We hope this plan will serve as a guide for how the BB&T
Economic Growth Fund of Berks County Community Foundation will
operate in the Boyertown area for
the next several years," said Heidi
Williamson, the foundation's vice president for programs and
initiatives.
"These are exciting times for our town," said Allen Steffy, president of Building a Better
Boyertown. "Thanks to the BB&T Economic Growth Fund of Berks
County Community Foundation, we have been afforded an opportunity
to develop a strategic road map for our future development and
continued growth. We are grateful and ready to get down to
work."
About BB&T
As of Sept. 30,
2016, BB&T is one of the largest financial services
holding companies in the U.S. with $222.6
billion in assets and market capitalization of $30.6 billion. Based in Winston-Salem, N.C., the company operates
2,220 financial centers in 15 states and Washington, D.C., and offers a full range of
consumer and commercial banking, securities brokerage, asset
management, mortgage and insurance products and services. A Fortune
500 company, BB&T is consistently recognized for outstanding
client satisfaction by the U.S. Small Business Administration,
Greenwich Associates and others. BB&T also has been named one
of the World's Strongest Banks by Bloomberg Markets Magazine, one
of the top three in the U.S. and in the top 15 globally. 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