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BB&T fulfills $5M in grants it promised after National Penn acquisition

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BB&T in downtown Allentown (File photo)
BB&T in downtown Allentown (File photo)

Keeping a promise it made when it acquired National Penn Bank in 2016, BB&T has donated more than $1 million to 38 organizations in Lehigh, Northampton and Berks counties to spur economic growth.

At the time of BB&T’s acquisition of National Penn, $5 million was donated to two local foundations, Berks County Community Foundation and Lehigh Valley Community Foundation, with each receiving $2.5 million to establish a BB&T Economic Growth Fund.

“BB&T has a long history of supporting our communities,” said BB&T Community Banking Group Executive Scott V. Fainor. “We are proud to provide community leadership at this level and play a role in the future health and prosperity.”

With the latest round of donations BB&T has fulfilled those funding goals.

In a press release the company issued Thursday, BB&T outlined the 19 Lehigh Valley organizations that were receiving grants totaling $685,000 as part of its commitment to the BB&T Economic Growth Fund of Lehigh Valley Community Foundation for 2018.

They are:

• Allentown Art Museum -- $15,000

• Allentown Symphony -- $15,000

• ArtsQuest -- $50,000

• Baum School of Art -- $50,000

• Civic Theatre of Allentown -- $10,000

• Community Action Committee of Lehigh Valley -- $15,000

• Downtown Allentown Community Development Initiative -- $30,000

• Good Shepherd Rehabilitation Network -- $75,000

• Greater Lehigh Valley Chamber of Commerce -- $15,000

• Historic Bethlehem Partnership -- $25,000

• Housing Association & Development Corp. -- $15,000

• Lehigh Valley Community Foundation -- $50,000

• Lehigh Valley Economic Development Corp. -- $30,000

• Lehigh Valley Health Network -- $100,000

• National Museum of Industrial History -- $15,000

• Penn State Lehigh Valley -- $50,000

• St. Luke’s University Health Network -- $100,000

• State Theatre Center for the Arts -- $10,000

• Valley Youth House -- $15,000

Prior to this latest donation, BB&T has donated a total of $2.45 million through the BB&T Economic Growth Fund of Lehigh Valley Community Foundation.

There were also 19 organizations receiving a share of $545,000 in 2018 in Berks County.

They are:

• Albright College -- $20,000

• Alvernia University -- $40,000

• Berks Alliance -- $25,000

• Berks County Community Foundation -- $50,000

• Boy Scouts -- $10,000

• Caron Treatment Centers -- $10,000

• Greater Reading Chamber Alliance -- $60,000

• Hope Rescue Mission -- $10,000

• KU Small Business Development Center -- $25,000

• Kutztown Community Partnership -- $25,000

• New Journey Community Outreach -- $5,000

• Olivet Boys & Girls Club -- $10,000

• Our Town Foundation – Hamburg -- $5,000

• Penn State Berks - Capital Campaign -- $60,000

• Reading Area Community College -- $75,000

• Reading Downtown Improvement District -- $50,000

• West Reading Main Street Foundation -- $50,000

• 18th Wonder Assoc. (Reading 18th Ward) -- $15,000

Previously the fund has donated more than $2.3 million to Berks organizations.

BB&T spokesman David White said that this latest round of funding fulfills that commitment it made two years ago.

BB&T, based in Winston Salem, North Carolina, has $222.9 billion in assets and market capitalization of approximately $37.4 billion, as of Sept.30, 2018.

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Stacy Wescoe

Stacy Wescoe

Reporter Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 4104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

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