Over the past decade I have lived in most of these regions. Also am in the real estate business. They have weathered the storm better than say...Cleveland or Sacramento, to be sure, but the impact of the past 12 months is beginning to weigh heavy on these markets. Development has slowed, individuals associated with the real estate industry (contractors, brokers, originators, etc.) are feeling the pinch. Inventories are up, expectations are not yet re-aligned with reality, etc. These markets you mention are not immune to the overall problems associated with the economy and the credit markets. Eventually this will have an impact on banks like BB&T, for a variety of reasons. It can't be helped. The stock price, in my opinion, has already priced this risk. If things get worse, though, seeing $45 will be a long time coming. The one thing BB&T could do right now is steal market share and open the floodgates with credit. BB&T just needs to let the commerical, retail, and personal credit roll out the door and clobber Wachovia, it could be a near knockout punch.