YOU make me laugh. There is NO possible way that BBT could get more than about 6% of the market share in FL. A long, long way from the big three.
As for BBT buying STI, another joke. Maybe a merger of equals. I have no problem with that, as long as the HQ remains in ATL. However, the two banks are too different. I dont see them ever merging.
Suntrust is doing some very weird things in central VA. The bank is handing out very low fix rate 15 year term loans as well as refinancing bad loans from other banks. It may be an effort to pump up the balance sheet in order to be a more attractive acquiree or it may just be crazy.
Oldfart, Suntrust should be very worried. The presence in Florida is small but growing. They will continue to buy in Florida and may eventually buy Suntrust. Check today's numbers. BBT closed with a higher market cap so technically they could buy suntrust. It may not ever happen but they are growing much faster than Suntrust. Oh yeah, you said that you rather have #1 market share versus a high market cap, guess you got your wish, lol. By the way, how much market share do you guys have in the Carolinas?
Can tell from your response you know you own an underperforming stock in an underperforming company and that you place more value on size than performance.Simply can't talk performance,can you?
"I'll take a significant presence in major markets any day over market cap." Incredible Mission Statement.You do not have traditional investor goals such as seeing your stock go up.
Jealous of the Coke stock? No and you know that as well as the point I was making.Without Coke,STI is a $15B bank with $100B in assets.Are those "good numbers" as you say?
BBT is a $17B bank with $75B in assets.Those are without question good numbers,IMO.
All of the above statements are just my opinion of course.
Good luck in your investing.
Oldfart, although market share is very important, the profitability in each market is even more important. BBT is very good in dominating several mid markets vs large metro markets, they are very comfortable and profitable in smaller markets. But to answer your question, BBT is No. 1 in three large markets defined by FDIC..Greensboro, Winston Salem, High Point, NC; Greenville, SC and Norfolk, Virginia Beach, Newport News, VA.
Even with their smaller markets they managed to make more than your beloved Suntrust during 1st Quarter this year.
Wow, someone pinch me. BBT is #1 in Norfolk...LOL
Now, where does BBT stand in the really FAST growing areas like Atlanta, Washington, DC, Richmond, Orlando, Nashville, Jacksonville, Tampa? Oh that is right.....BBT just has a little toehold in FL. And their entrance into GA has been less than a success.
BBT=Bad Banking and Trust.
What does the future hold for BBT in those high growth areas of West Virginia and Kentucky?