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  • Stockboy_II Stockboy_II Jun 22, 1998 10:28 PM Flag

    Virginia Resignation

    The word up here is that the two top men in the
    Tidewater area left. And yes, it was because their
    contracts were not renegotiated! This is normal - but BBK
    will probably see more of this in the future. With the
    exception of Glenn Orr, they have left too many S&L kings
    in place. These folks are good people, but for
    another time. Fast Eddie dosn't do it that way - here
    today, big payoff, and gone tommorow. This allows FU to
    get their folks in quick, cuts dead weight and start
    paying for the merger.

    Re: Glenn -- He always
    does what is best for Glenn.

    He's been gone for
    a while. Word is he asked off the Board. Why? Maybe
    he didn't want the same criticism he received when
    on the NC Banking Commision before he quit, i.e.,
    the Chairman of the Commision accused him of using
    his position on the commision to pressure folks to
    sell and/or used his position to gain insider
    information. So, Glenn either dosn't want to mess up brokering
    a sale to BBK of one of his clients or he dosn't
    want to mess up his sale of BBK to someone else. Don't
    think he'd try to sell BBK? He sold Forsythe and SNB
    with a smile on his face and a payoff in his pocket.
    At $1.6MM for life, he'd do it again!!

    Glenn if you chose - but the NC Banking Commision
    choses not too. Maybe we can still make some $ on BBK,
    but only if they sell out - at least for the near
    future. Keeping results up this year will be very, very
    hard. $64 dosn't sound so bad now and forget $70! We
    all missed it!

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    • Stock:

      Interesting posts. Enjoyed

      I disagree on one front, and thats BBK is
      definately a growth bank. There saying is "if we ain't
      growing, we ain't surviving." They got a whole group that
      does nothing but acquisitions. I still hold hope that
      they move bigger into Virginia and Maryland over the
      next few months.

      I still say they offer the
      public a great product with superior service (BBT has a
      very loyal following). I also don't see 70 by the
      split date in July, but mark my word, after the split,
      this one continues major growth!

      Its sad, but
      I'll bet the big boys have been salivating over this
      bank. How long can Allison hold out?

      Dr. JunJun

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