BB&T Bank Unit Buys Carolina Insurance Agency

BB&T Insurance Services, Inc., a subsidiary of BB&T Corp., says it has agreed in principle to buy Blue Ridge Burke Insurance Agency Inc., an independent insurance agency with offices in Winston-Salem and Mount Airy.

The acquisition is expected to be completed in the first quarter of 1999. Terms were not disclosed. Blue Ridge Burke, which started in 1935, will keep its name and BB&T will retain all of Blue Ridge Burke's employees. The acquisition of Blue Ridge Burke brings to 34 the number of insurance offices operated by BB&T in the Carolinas and Virginia.

David M. Pruett, president of Blue Ridge Burke, will become chief administrative officer for BB&T Insurance Services, running the day-to-day operations of the organization. Pruett has 18 years of insurance experience, all with Blue Ridge Burke.

"This combination will mean that our customers will have access to a wider range of products at competitive prices, while retaining the personal relationships they've developed with their agents," said Pruett.

Gail Theard, who was a senior vice president and commercial lines manager, will become agency manager of BB&T-Blue Ridge Burke. Theard joined Blue Ridge Burke in 1984 and has nearly 20 years of insurance experience.

"BB&T Insurance Services wants to be the best at providing quality customer service and Gail and Blue Ridge Burke know how to do that," said Wade Reece, president of BB&T Insurance Services. "Blue Ridge Burke has a 64-year tradition of excellence in the industry and gives BB&T a solid foundation of experienced insurance professionals in Winston-Salem and Mount Airy."