The city of Wilson, North Carolina only lists about 50,000 residents, has a large factory run by Bridgestone tires, and though once known as the “world’s greatest tobacco market” it now enjoys an economy that is quite versatile, it is also the official home and birthplace of BB&T, the 12th largest bank in the US, and a very solid binary options investment.
With its roots going all the way back to 1872, BB&T, for the most part, has not changed a great deal over the years.
BB&T started out as a small town local bank, providing banking services mostly for farmers from the surrounding counties, it currently holds nearly 2000 financial centers, mostly in the south-eastern region of the US, from Washington D.C up north, to Florida in the south and as far out west as Texas.
BB&T began diversifying its services following World War 1, adding insurance and mortgage divisions, which might very well have been one of the reasons the company had managed to survive the 1929 stock market collapse, making it the only bank in Wilson to do so.
A series of mergers and acquisitions followed World War 2, helping BB&T expand to the point it became North Carolina’s largest bank by the 1990’s, it later completed a merger with Southern National bank, bringing its total asset count to over 10 billion, over 400 branches and spreading to over 200 cities in the Carolinas in general.
Smaller banks in the region were soon merged with or bought out; continuing the expansion to other southern states, but the bank, like many other ran into trouble with the US housing crisis and global financial collapse, to the point where it had to accept over 3 billion USD in government aid to keep from outright collapse.
The government aid funds were extremely useful, and BB&T made a point of buying back the shares it had to sell to receive the aid as quickly as possible, which was less than a year, the bank had made a full recovery and was once again on the path to profitability, within months, it completed buyouts or takeovers in Alabama, Florida, Georgia, Nevada & Texas with Kentucky later joining its list of represented states.
BB&T now stands at over 180 Billion USD in assets, with net revenue exceeding 5.4 billion, It employees over 30,000 people throughout its branches.
As you may imagine what holds true for most financial service companies is also true for BB&T, as a massive company that provides a multitude of financial services to businesses as well as individuals it is subject to many forces that impact the prices of its binary options.
Perhaps most of all, it is subject to any government reports about interest, employment and incomes, but one must also keep in mind that due to the more regional aspects of its business you can probably rule out most global economic events as relevant, however, you should also pay closer attention to events specific to the southern US, events that may impact BB&T’s prices, and your binary option buys or sells.
While BB&T is mostly located in the southern US, there is no perquisite to love country music…If you intend to trade BB&T binary options the only demand is that you become accustomed to profits.