The real story is that NCF approached BB&T to sell and JA passed. BB&T will not be bought by WF any time soon. JA has too big of an ego to let that happen. Anyone who has ever met him would know this. BB&T and his family are the only things in his life. Look for the 2nd quarter to be on target with the last two quarters improving dramatically. Commercial and SBB loan growth is up across the board. I would be buying if I were you.
Why would NCF approach BB&T about a merger? They have announced a merger with SunTrust.
Unless you have more facts to back that up, perhaps even a timeframe. I don't think we would have seen the Call Options jump like they did recently if NCF approached BB&T 5-6+ Months ago.
Recent Option activity indicates more substantial news than NCF approaching for a merger. NCF has the following subsidiaries: CCB (central carolina bank) National Bank of Commerce (NBC) First Market Bank Wal-Mart Money Center (NBC) Fleet One First Mercantile, Inc. NBC Capital Markets Group, Inc. NCBS
It seems to be there would end up being some overlap and people would lose their jobs.
Now, I have also read somewhere that remaining independent is due to the following things: 1. determination of management 2. ability to provide superior returns to shareholders while creating a superior financial services relationship experience
Now, based on those things the only thing BB&T has is #1 -- the stock has been stagnant for a while.