BB&T Unit Purchasing South Carolina Agency

BB&T Insurance Services, the nation's sixth largest insurance broker, said it plans to expand its coastal South Carolina operation with the acquisition of the Grand Strand's largest insurance agency.

Puckett, Scheetz & Hogan, a coastal property insurance specialist, provides a full range of risk management services for businesses and families from its Myrtle Beach headquarters and a branch office in nearby Pawleys Island.

The merger would give BB&T the largest insurance market share in greater Myrtle Beach, a little more than a year after gaining the No. 1 banking market share in the same area.

The transaction is expected to be completed in early August.

Puckett, Scheetz & Hogan President Mike Hogan founded the agency in 1989. It began as a coastal branch of the former Puckett, Scheetz & Hagler agency based in Greenville, S.C.

Puckett, Scheetz & Hogan now has 50 employees, all of whom will remain with "BB&T-Puckett, Scheetz & Hogan" following the acquisition.

Hogan and his management team will remain as managers with BB&T-Puckett, Scheetz & Hogan.