Raleigh, N.C.-based BB&T Insurance Services, a subsidiary of Branch Banking and Trust Co., has acquired Puckett, Scheetz & Hogan of Myrtle Beach, S.C. Financial terms were not disclosed.
The transaction is expected to close in early August. The acquisition makes BB&T the number one bank and insurance broker in the region.
Puckett, Scheetz & Hogan is a coastal property insurance specialist providing risk management services for businesses and families. President Mike Hogan and his team will remain as managers. The agency's 50 employees will remain with the firm, which will be renamed BB&T-Puckett, Scheetz & Hogan.
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