It was the only bank in North Carolina to survive the crash of '29, earn a profit every quarter of 2007 & 2008, raised it's dividend every quarter in 2008, never bought a sub-prime mortgage, does not lend money to thieves.... And, and! the CEO bitched out congress for giving bailouts to failing banks. You need a copy of that letter? It was on CNN too. Google it! The only bad thing was taking $3bn from the Fed. Cheap money or not, BB&T didn't allow them to dictate terms.
Did you not read the 400 to 500 mill in unsecured loans that were made and the 150 mill loan going bad? Then there is the possibility of commercial getting worse. I wish Kelly would be more forth coming. Silence is golden I guess. They should tell us what can be expected and what they actually are going to use the tarp money for.
Took TARP money only because they will be able to make money on the "loan".
If a friend offered you $1,000 for 1% and you figured out how to make a 5% return over the same time period. . .would you turn it down?
This recent sell off is sector wide. . .the poorly managed, and banks which should rightfully be shorted are bringing down the entire sector.
How do you figure. +$40 a share to sub $20. Not a bullish performance. Earnings release will no doubt be spun by some as "great" and/or "validating great mgmt". In reality, it doesnt matter, this stock is now in a predictable trading pattern. What are your predictions for price movement, finishes, for 2009?
something about all that doesn't seem right -- you name all these great reasons and end with a twist -- that twist is the unknown answer in which we will find out soon enough -- taking money for no reason? -- sorry, i ain't buyin that excuse
nor am I. They are not better managed just have better spin doctors in marketing. They needed the money. Banks have not needed to have great managers until now. BB&T needs to spend money to upgrade old branch automation systems, other software and hardware. Will require a lot of capital.