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BB&T Corporation Message Board

  • insidehelp insidehelp Dec 16, 1997 9:34 PM Flag

    Where next?

    For those of you tracking BBK: the word on the inside is that they lost out of the recent bid for FFFC, a savings bank in Lynchburg that just sold out to a WV bank. Only a handful of savings bank left in Virginia to acquire. Any thougts from the crowd?

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    • Trust me when I tell you that Maryland is the next state for BB&T. Look for someone like Maryland Federal or another small S&L to be purchased withing the next 90 days.

      Does anyone know anything about a small S&L in Washington by the name of Independece? Fidelity Low Priced stock fund owns almost 10% of the company.

    • Yes they want a much bigger presence in Virginia. What next?

      I say they get more heavily into Maryland and Georgia. Its going to be killer for FU and NB to break them once they get shoppe set up.

      See,s to me, nations is trying to get big nationally, and I think FU has grown to fast and will start having major problems. Their branches already stink in service.

      BBT is poised big time.

    • Yes, there is a BB&T. Some lucky shareholders in the state will have a great, although late, Christmas present. For market fill-ins between recent acquistions, especially owners of medium size S&L's, buy your own and hold. Allison's on his way.

    • I Love BBT because ITS NOT JUST BANKING TO THEM ANYMORE.

      BBT will continue to buy life insurance companies, and investment companies like craigie. Anything even remotely related to financial, they will get involved in.

      I believe they don't want to get to big, because by being the size that they are, they can run circles around FU and nations. I see them making further acquizitions in virginia within the next 45 days, but I think you will see more buyouts from them of investment related companies.

      They have an awesome strategy. I see this stock around 75 by this time next year. Plus dividends, thats pretty awesome stuff.

    • Correct assessment of F&M. All their banks share a common core system, and fair degree of uniformity. Ability to eliminate
      the current duplicated functions (by combining the local banks into one) should provide some immediate savings to offset cost of
      conversion, though. First VA is much the same. Candidates available that offer any significant presence in VA is shrinking fast. Would
      BB&T want to stray away from their "preferred" target profile to get the market area(s) they need to fill in the holes?

    • Why would it have to be a savings bank? BBK is large enough to buy one of the few remaining VA based bank holding co's.
      Which they select would depend on where they choose to concentrate their marketing effort in VA. Crestar, First VA, and F&M all
      have their strengths. FVB is primarily retail, Crestar mostly commercial. FMN is the smallest of these 3, and is very dominant in
      certain areas. All 3 have a large (and growing) Northern VA presence. I would bet that at least one of these goes by end od 1st Q.
      '98.

 
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