BB&T eliminating Allentown headquarters as it realigns its markets

BB&T is eliminating its regional headquarters in downtown Allentown as it realigns its Pennsylvania and New Jersey market.

The Lehigh Valley will now fall under the Delaware Valley/Lehigh Valley region led by regional president Travis Rhodes out of King of Prussia.

The transition will take place without the bank’s local leader, Scott V. Fainor, who has served as the community banking group executive of the bank at the Allentown headquarters.

“Scott will be retiring from the bank after an illustrious banking career spanning more than 35 years,” said David White, BB&T vice president of communications. “His leadership both at BB&T and in our communities has been exemplary and he has been tireless in his efforts to serve our clients through the transition of National Penn. We are grateful for his service and Scott will continue to be engaged with BB&T in the Pennsylvania markets.”

The Winston-Salem, N.C.-based bank moved into the region when it acquired National Penn Bank, of which Fainor was president and CEO, in 2016.

While the bank said it will maintain a corporate presence in Allentown, there will be some other positions eliminated in Allentown as a result of the changes.

“We also had opportunities to improve our lending systems, streamline our back-room processing functions and provide a more responsive experience for our clients,” White said. “This has led to a consolidation of a few of our processing centers in the footprint and some of the work we did in the Allentown area has moved to other processing centers in the footprint.”

In a release BB&T said the changes will help the bank simplify and streamline its community bank structure