...or, "the fraction," as they call it, would be an interesting target for BBT, and I wouldn't discount it just because management said it is "unlikely." They might just be trying to talk down the price.
"Some overlap" is almost none--5/3 is primarily strong from KY north to the Great Lakes and west to the Mississippi. BBT, as we know, is centered in the Southeast.
"Cultural differences" undoubtedly exist, but neither bank is likely to let those derail a potential deal. Additionally, 5/3 is bleeding top management talent even faster than BBT, with several very senior resignations in the last few months. They are not likely to be picky about whose culture is better.
Consider the benefits. In one fell swoop, BBT reaches "survivable" scale--too big to be bought, or to fail. 5/3 gets to save face with an MOE. Management is terrible there, and probably tired, and by scratching a few checks (which JA has always been willing to do), BBT gets to run a true super regional that can compete with anybody short of big international banks.
If the fraction gets to needing a white knight, which they may well very soon, I wouldn't be at all surpised to see the boys in Winston saddling up. I'm not crazy about the idea as a shareholder...but then, when did a shareholder's opinion ever count?
PS to atiinvestor--thanks for the post.
For me to be compared to the intelligence of the likes of Fan and Wilson, and Joe Banker, makes me hot, makes my toe begin to swell, and next thing ya know I'm over there at Bills BBQ. Anyone with any common sense at all can read their posts, read mine and know immediately they are light years ahead of me. Words have meaning usa06 so you must have come from rio linda. But seriously, where I went to school being right was a good thing. Agreeing with right and good things was a fairly good indicator that I had SOME common sense. Maybe you'll get some for CHRISTmas, now isn't that precious. As you well know, ignorance is bliss. I hope you one day run into someone who knows it all like I did. Hell you might even be successful too.
"The average age for the class was 26. That means more than hal were older. They are good quality people that are doing a great job for us."
Actually, that may or may not be correct...I'm assuming 'hal' should have been 'half'. If you had said the 'median age' was 26, you would be correct. Just to illustrate, take the ages 35,30,27,25,24,23. The median is 26. Half the ages fall below and half above the median. The average, on the other hand is 27.6 years and only one third are above the average.
Now, to the main point. I've had the pleasure to meet and help train several MDP's. Most have been bright, eager to learn and all around good people. I'd like to think someone saw the same thing in me many years ago.
Over the years people would leave for various reasons and I, or someone else, would take over their responsibilities. I came to realize quickly that no amount or training could prepare you for ALL eventualities. That's where the mentoring process, formal (MDP program) or informal (as I had), proves invaluable. People I worked with and for, quickly realized that they could rely on my answers because if I did not know the answer I said so. But, I also had great options to turn to in order to get the correct answer.
I would much rather go into a business seeking service where I know I'm dealing with someone who's not afraid to ask for help or admit that he/she does not know everything rather than receive incorrect information. I am not going to belittle anyone for that. As long as that expertise IS readily available to me somewhere in the organization, I'm happy.
LSB the Bank is the bank I worked for 5 years ago. Since I do not work for them anymore I changed it to JoeBanker100 when I wanted to post. I can't seem to make it the default screen name. While JoeBanker100 and lsbthebank are the same person I assure you that I am not stil or any other person on here.
JoeBanker has 2 screen names as near as I can tell. First it's JoeBanker, and now "Isbthebank."
Makes you wonder who else JoeBanker may be. Stil? Fan? Wilson?
And isn't it funny that whenever JoeBanker makes a post, Stil is RIGHT THERE to support the comments.
This is too funny. You've all, err....I mean, JoeBanker/Stil has been exposed.
One piece of information yu lack is the fact that 75% of the BB and BSO of the last 2 MDP classes had MBA's. The average age for the class was 26. That means more than hal were older. They are good quality people that are doing a great job for us.
Apparently you find math difficult. At that time there were 13 BB's 6 from 13 is less than 50% not 75%. Out of the 6 that weren't worth a crap 4 were from the old FVB and had never been in the field. They tried but never got it. We really should have let them go much earlier. The last 2 were mishires. One was hired locally and had plenty of banking experience but never produced for us. The other was a internal transfer whose main qualification was that he was a suck up boy friday to a SVP. This person needed lending experience to advance in their career but couldn't hack it in the field and quit.
Yes we have a lot of new RB's. No its not good but turnover happens. We are very fortunate to be able to develope our own talent. When some community bank comes in and buys one of our RB's by paying them $25,000.00 more a year (yes this does happen) we just plug a new person in and continue the mission. We are very fortunate to be able to do this.
As for yur ignorant comment about the MDP's you must not understand how that trianing works. Before this last class when you were hired to lend in the field you were assigned to either the Retail Banker, Business Banker, or Business Services Officer track. When you came out of the program that was the role you were assigned to. It has changed somewhat with this latest class but it is basicly still the same. Further, hiring BB's localy is not as important as it sometimes is for BSO's and or Corporate Bankers.