agree that bbk is well managed bank, but growth is the name of the game in banking. this bank will be bought by the end of the first quarter of '98. with major regional banks adding 100 billion+ at each acquisition, market share will continue to shrink for smaller regional banks such as bbt, 1st cit, 1st va. Ect. even large regionals such as wach 65 bill., suntrust 55 bil., are at risk. (barnett bk 20x earnings) buy or be bought.
BB&T has stated that they will continue to purchase banks/S&L's in the sub-5 billion range. They are still trying to beef up the northern Virginia market. MFSL, which will probably be bought withing the first 30 days of January, would be a nice complement to BB&T's recent purchase in D.C. The price is now rich, having run up from a buy level of 27 to 35 now. Look at this potential buy - IFSB. Independence Federal, a four branch S&L located in the good areas of D.C. The price to book and the PE levels are still attractive and they have assets of approximately $250 million. Not many bargains left in the area of Northern Virginia or D.C.