WINSTON-SALEM, N.C. - BB&T Corporation announced Thursday it will become the retail banking partner in three Auburn University athletic venues, including Jordan-Hare Stadium, through an agreement with the Auburn ISP Sports Network. It is the first major sports marketing agreement for BB&T in Alabama.
BB&T took over failed Montgomery-based Colonial Bank several weeks ago in the state's largest ever bank collapse.
The BB&T brand will be visible in several locations in Jordan-Hare, Beard-Eaves Memorial Coliseum (Auburn basketball) and Plainsman Park (Auburn baseball), familiarizing fans of Auburn athletics with the logo that will adorn approximately 90 financial centers in Alabama.
In an FDIC-assisted deal earlier this month, BB&T significantly increased its presence in Alabama by acquiring $22 billion in assets and $20 billion in deposits from Colonial. BB&T, the ninth largest financial institution in the United States, now ranks as Alabama's fourth largest bank.
said Jodie Hughes President of Montgomery-based South Alabama Region, one of two new regions in Alabama created to reflect BB&T's community style of banking.
"The excitement of Auburn athletics is a powerful force in this region," said Jodie Hughes, one of two new regional presidents for the company. "Our alignment with Auburn and the Auburn ISP Sports Network will enable us to create brand recognition in a way that a typical ad cannot. Auburn fans are among the best in the country, and this is a great way for us to show them that the best bank in town is committed to their community. I cannot wait to experience my first Tiger walk."
Hughes comes to Montgomery from Morgantown, W.Va., where he was president of BB&T's North region.
"We are pleased to welcome BB&T as a sponsor of Auburn athletics through the Auburn ISP Sports Network," Director of Athletics Jay Jacobs said. "BB&T's corporate philosophy and its commitment to community banking make them a natural fit for Auburn, and we look forward to a successful partnership."
"To have the opportunity to work with BB&T as one of our corporate partners is exciting," said Mike Hubbard, president of the Auburn ISP Sports Network. "Even though BB&T is new to Alabama, they understand the importance of college athletics in this state. We appreciate their commitment to Auburn athletics and look forward to working closely with them to build a strong and mutually-beneficial relationship."