Bloomberg, Jeff Kowalsky Tennessee Gov. Bill Haslam Scott Harrison[1] Staff Reporter- Nashville Business Journal Email[2] | Twitter[3] Gov. Bill Haslam[4] said Friday his economic development chief Bill Hagerty[5] stayed in the cabinet longer than the governor originally expected, telling reporters it will be hard to find a replacement."When I first asked Bill if he would come, I asked him [to] promise me two years. And quite frankly, to serve four was great," Haslam told reporters after his keynote address at the annual Governor's Conference on Economic and Community Development. "[Hagerty] wants to get back to private business. For him, it was just a personal decision. [He has] a lot of young kids at home and wants to be back in the business world."Haslam didn't indicate a replacement for Hagerty, who announced his decision Wednesday to step down as commissioner[6] of the state's Department of Economic and Community Development. The governor said he's looking for a new commissioner for when Hagerty leaves in January. "The key thing is you start with somebody who can organize a coherent strategy for business recruitment for Tennessee," Haslam said of finding a replacement. "Number two, somebody who can go out and deliver on that. Bill's really good about those; he's very strategic and he's tactical. Most people are one or the other."On whether it will be difficult to find a replacement, Haslam said, "I think so."Hagerty's decision to step down came on the heels of Bridgestone Americas' announcement Tuesday to move its headquarters to downtown Nashville[7], bringing more than 600 new jobs as the tire maker consolidates multiple out-of-state business operations.Then on Thursday, Education Department Commissioner Kevin Huffman[8] also said he will leave Haslam's administration[9]. Haslam said Friday he wanted Huffman to stay on, adding it wasn't "appropriate to talk about successors at this point."…

BLOOMBERG BB&T Corp. is unlikely to close many branches following its acquisition of Susquehanna Bancshares Inc. Rick Seltzer[1] Staff reporter- Baltimore Business Journal Email[2] | Twitter[3] The $2.5 billion agreement announced last week[4] that will have BB&T Corp[5]. buying Susquehanna Bancshares[6] Inc. is a big deal inside and outside of Baltimore.We know some details[7] on how Winston-Salem, N.C.-based BB&T (NYSE: BBT) plans to proceed once the deal gets the approval of regulators and stockholders at Lititz, Pa.-based Susquehanna (NASDAQ: SUSQ). But we don't know all of them. Here are four things to watch as the transaction plays out in the Baltimore market.Will there be branch closings? Banking industry insiders loved the fit of the deal because BB&T and Susquehanna have very little overlap in their branch territories. BB&T basically runs from Baltimore south down the coast through Florida and west into Kentucky and Alabama with some outposts in Texas. Susquehanna is in Pennsylvania, New Jersey and Maryland.The one place they do share territory is in the Baltimore market. BB&T had 60 offices in the market as of June 30, according to the Federal Deposit Insurance Corp. Susquehanna had 22.That begs the question of how many branches could be consolidated, especially after BB&T said last week it hadn't made those decisions.Branch closures might be few, said Karyl Leggio[8], a professor of finance at Loyola University Maryland's Sellinger School of Business who is on BB&T's Baltimore regional advisory board.Leggio hasn't studied the banks' branch overlap in depth, but she said she doesn't anticipate many closings given BB&T's aspirations."I would be surprised if there's more than a handful," she said. "This isn't a move to consolidate. It is a move to expand."In the future, she said, "if you have two branches on the same block, I would guess only one would exist." References^…

Alabama’s economic recovery has been slow as a result of the public sector’s drag on the state’s overall performance, according to Wells Fargo’s economists. However, they expect overall growth to strengthen in the coming years. Antrenise Cole[1] Reporter- Birmingham Business Journal Email[2] | Twitter[3] | Google+[4] Alabama’s economic recovery has been slow as a result of the public sector’s drag on the state’s overall performance, according to Wells Fargo’s[5] economists. However, they expect overall growth to strengthen in the coming years. Wells Fargo’s Alabama Economic Outlook report released this week said the recession and bankruptcy of Jefferson County took a heavy toll on Alabama’s public sector, which has downsized tremendously in an effort to restore fiscal balance. However, those efforts have weakened the labor market and subtracted from overall GDP growth - which grew at a sluggish 0.8 percent in 2013. The federal government continues to prune spending, it said, and as a result, industries where government contractors play a critical role have been impacted. A key strength for the state is manufacturing, primarily transportation equipment. “Consistently strong demand for automobiles, particularly several of the popular models made in Alabama, has kept the state’s important motor vehicle industry humming,” the report said. Education and health services have also posted solid gains, but the housing market recovery remains in the early stages. A recent report by Business Insider said[6] Alabama’s recovery from the recession is the sixth slowest in the United States. Antrenise Cole covers banking, finance, small business lending, venture capital, accounting and law for the Birmingham Business Journal. Click here to follow her on Twitter.[7] References^ Antrenise Cole (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ Wells Fargo’s (www.bizjournals.com)^ A recent report by Business Insider said (www.bizjournals.com)^ Click here to follow her on Twitter. (twitter.com)...