New BB&T exec stresses local autonomy
BB&T's new market president for Lancaster and Lebanon counties is focused on making the institution operate more like a community bank.
James Malfregeot, formerly a market president for BB&T in western Maryland, will oversee BB&T operations in Lancaster and Lebanon counties, where the bank had 29 branches as of June 30.
He is taking over for Alex Brame, who was named regional president for the bank's Central Pennsylvania region, covering 69 branches in Adams, Bedford, Cumberland, Dauphin, Franklin, Fulton, Lancaster, Lebanon and York counties.
Although BB&T operates in 15 states and Washington, D.C., Malfregeot said that its driving force is a community bank structure, with regional divisions.
The bank's regions operate relatively independently, Malfregeot said, giving them the feel of Main Street banks. He said he wants to drive his branches to work on getting clients answers quickly and efficiently.
"We are putting a lot of local autonomy back into the markets we work," he said. "It gives us sort of a leg up and allows us to operate on a more personal level."
Malfregeot, 30, intends to stress the similarities between the bank’s roots and the market he is working in, which he said Brame did particularly well after BB&T merged with Susquehanna Bank in 2015. Malfregeot said that Lancaster and Lebanon counties are both rural, similar to BB&T's North Carolina roots.
"Here we are three years post-merger of Susquehanna Bank and BB&T," Malfregeot said. "The former president of this market has spent a lot of time on telling BB&T's story. Much like this area, BB&T has a rich story and culture."
Malfregeot is a West Virginia native and has worked with the bank since 2012 as a portfolio manager in Alpharetta, Georgia and a business services officer in north central West Virginia. He is also a 2019 graduate candidate of the American Bankers Association Stonier Graduate School of Banking at the University of Pennsylvania.
"I’ve been with BB&T my entire career," Malfregeot said. "I have a really firm grasp and understanding on how to maneuver our organization."
BB&T is based in Winston-Salem, North Carolina and operates 232 financial centers in Pennsylvania and 1,900 overall.