by Mike Sharkey
Staff Writer
If BB&T City President Scott Keith is right about the bank and insurance company’s future in Jacksonville, his company is going to need much more than the three floors it occupies in what’s now known as the BB&T building.
“Right now, we have just shy of 100 employees in this building and about 150 in Jacksonville,” said Keith, who joined BB&T about two years ago after a long career with SunTrust. “Three to four years from now, we will have 125-150 more in Jacksonville.”
BB&T was started in 1872 by Alpheus Branch and is headquartered in Winston-Salem, N.C. The bank has six branches in Jacksonville and one each in Fernandina Beach and St. Augustine. Get ready, though, BB&T is set for rapid expansion in a relatively short period of time.
“In Jacksonville, we will have 18-19 branches in the next three to four-and-a-half years,” said Keith, who moved to Jacksonville 20 years ago after graduating from Florida State. He spent two years with what was American National Bank before moving to SunTrust. “My father was in the military, so I grew up all over the country. I landed in Jacksonville with American National and stayed in Jacksonville. It was the best move I could make.”
Keith also said moving its North Florida headquarters to Downtown in the former 200 W. Forsyth building, and putting the BB&T name on three sides of an office tower isn’t just paying dividends now — it will have the long-reaching effect the company hoped for. BB&T only occupies three floors — one, two and five — but many of the tenants recognize Keith already and seem to appreciate the company’s presence in the building, on the building and as one of Downtown’s newest corporate partners. Keith said he runs into fellow tenants who tell him the BB&T people are the friendliest to ever serve as the host tenant of the building that also includes law firms, commercial real estate brokers, a jeweler and many others.
“It’s amazing how well we’ve been received,” he said.
Strengthening its corporate presence was certainly a major factor in moving its local headquarters Downtown. However, Keith said furthering the company’s presence in the community played just as big a role in the decision-making process. The ever-growing Southpoint area was an option, but the lure of moving to an area going through a corporate and residential rebirth was also attractive.
“We have a strong commitment in each community to being a significant part of giving back to the community,” he said. “We truly believe the heart of a strong city is a strong downtown. We are committed to Downtown and the economic development of Downtown. We are doing things throughout the city in order to be one of the premier banks in the city.”
Keith said the bank also saw moving Downtown as an opportunity to demonstrate its commitment in Jacksonville to the business, civic and private communities
“We don’t just want to have a presence in Jacksonville for the next 3-5 years, we want to be here for the next 10, 20, 50 years,” said Keith. “When I talk to Mayor (John) Peyton or (Jacksonville Regional Chamber of Commerce President) Wally Lee, they know me and many of our employees. They recognize that our firm is committed to Jacksonville.”
BB&T may be one of the best-kept secrets in the banking and insurance industry, both from a local and national perspective.
Keith said the community bank quality of BB&T helps transcend the bridge between corporate entity and neighborhood bank.
“We are the ninth-largest bank in the country and the sixth-largest insurance brokerage firm in the country, and not many people know that,” said Keith, who is active in the community himself and is the current chair of the Gator Bowl Association.
Keith said typically banks and insurance brokerage firms don’t go hand-in-hand, never mind under the same corporate umbrella. However, he said the company believes there are enough similarities in clients that need banking and insurance services to justify the combination.
BB&T is hosting a reception tonight to officially open its North Florida headquarters.