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First Virginia Banks Inc. (FVB) Message Board

  • cdpowers cdpowers Jan 21, 1999 10:37 PM Flag

    The rumor persists....

    BB&T, $80/share. Even today, I heard from yet another source that FVB will be bought. Maybe one day soon, the rumor will turn to fact and we can get on with lives.....

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • No one I talk with believes FVB can remain
      independent. The discussion is not "if" but "when". While 4th
      quarter results are better, the bank is still making its
      money in the highest risk area of auto financing. While
      this past quarter may look fine, wait until the repos
      begin, and many of these loans are without recourse to
      the dealer. There are simply too many fundamental
      problems with FVB and its management to make a go of
      independence.

      • 1 Reply to gunnar45
      • to me more pivotal questions than "if" or "when"
        are "who?" and "why?". Rumors about BB&T get me
        interested, but I wonder how much of a premium to get into
        the Virginia markets they'd get in this deal they
        would be willing to pay. Seems like a great strategic
        fit. But is this the kind of franchise BB&T can turn
        into a BB&T, Virginia operation? Anyone with a closer
        working knowledge of either institution than mine please
        advise.

 

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