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BB&T Corporation Message Board

  • againROTFLOL againROTFLOL Feb 19, 1999 8:17 PM Flag

    All my other stocks gained today except

    Maybe it's been jinxed by Armand. naaa. Looking over this board's postings, I say don't let this fellow get to you. This is a mild, polite place compared to what goes on at other boards.

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    • There are a few major Banks here. We have the biggest banking industry in the state of the Appalachia (KY). So keep us out of it!!!!!!

    • Just a little tidbit of information to add to
      your research on the Matewan / BB & T saga. Yes,
      Matewan does offer a credit card and Matewan does have a
      dealer finance department.

      I was shocked you
      didn't know this already. I guess your research wasn't
      as "in-depth" as it was meant to appear.

    • I for one have enjoyed the Bankonimics 101 these
      past couple
      of days. I have learned much and still
      have a long ways to
      go. Thanks to all and I would
      like to say that I have great
      confidence in BB&T
      management. They have preformed very well
      for several

      Off topic---could do with less of the personal

      Long on BB&T

    • Profits increasing, ROA over 1. Thin out the
      equity a little, make things a little more efficient,
      Purchase price less than 2 times book. We are ok.

      Talk about demographics all you want, but this
      transaction will be profitable.

      As a banker, I can,
      and I do, make money off every slice of the
      demographic pie. I know BB&T will do the same....and I don't
      need a 3,500 word esssay attacking someone to do it.

    • I like to think of myself as a "learned expert"
      in an area of learning; and if this "learned
      expertise" has taught me anything, it is that even fools and
      idiots and jerks have something to teach me --especially
      fools and idiots and jerks because as such they are
      outside of the received or conventional learning which is
      almost always inadequate or often simply wrong.

    • our different views of Matewan's market. I'll
      admit my view is based on conjecture: I'm assuming that
      the future of that market will in at least some ways
      resemble the model I've seen elsewhere. The foothills of
      the Cascades east of Seattle; the hills around Boise,
      Idaho; the High Plateau around Bend, Oregon; the High
      Country north and west of Santa Fe, N.M.; the hills
      around Ithaca, NY: these are affluent, desirable markets
      for any bank. Certainly, poverty and other problems
      persist; but these areas are magnets for money, and their
      scenic beauty is no small factor in this. The one major
      "ingredient" I see lacking in western West Virginia is a major
      urban area a few hours' drive away.

    • One additional advantage of the Internet is the
      ability of "jerks" to have equal time with learned
      experts. Contrary to your MSG 861, you have not backed up
      most of your assertions any more than you are accusing
      me of not doing. I will respond with facts and not
      insults to your posts.

      (1) The $1.2 billion figure
      for capital improvements is from the BB&T release.
      Where they got that from, I don't know. But assuming
      it's true, your conclusion that none of it is
      earmarked for Matewan's market area is WRONG. One of the
      biggest economic development projects in WV in the last
      ten years concerns the development of and along U.S.
      119 from Charleston to Williamson. This development
      also represents one of the state's better growth
      prospects for the next decade as well. This development
      does not bypass Matewan's market area. It is right
      through the heart of it.
      (2) Read the 1997 10-K for
      Matewan. You obviously have one since most of your factual
      information in your posts is from it. Matewan was in Kentucky
      two full years before its Bank One acquisition. In
      1994 it chartered a thrift that grew to over $100
      million in assets as of 9/30/98. And it is in at least
      three other Kentucky counties. Obviously the Bank One
      acquisition represented a big jump. But it hardly supports
      your assertion that Matewan's sole Kentucky presence
      is due to Bank One. Given its multicounty presence
      and the business base of its thrift, your contention
      that Matewan had no real internal core growth is
      equally suspect.
      (3) Matewan efficiency ratios have
      been headed in the wrong direction since 1994. But
      reading the 10-K, it opened 11 new offices in that time
      and made a $200 million acquisition (quadrupling its
      intangible related expenses in 2 years). Not to make
      excuses, but increasing its size by 60% in a 2 year
      period, tripling the number of its offices, and taking on
      the additional intangibles burden could be expected
      to negatively effect efficiency ratios.
      (4) The
      coal industry obviously has a significant impact in
      the Matewan market areas. But again reading the 10-K,
      less than 5% of the loan portfolio is direct coal
      related credits. This would seem to refute your assertion
      that the majority of Matewan's commercial loans are
      collateralized with either coal mining equipment or coal
      (5) I don't know Bank One's motivation in selling off
      its Pikeville operation, but compliance with Kentucky
      aggregate deposit laws does not appear to be one of them.
      Even with the Pikeville franchise, they appeared
      comfortably under the cap 12/31/95.

      I apologize to the
      other readers of this board for taking up so much
      space, but felt compelled to respond to what I consider
      erroneous and distorted perceptions about BB&T's latest
      acquisition. BB&T didn't get big and successful by being
      stupid and I'm sure they are comfortable in what they
      are getting. Matewan will probably never be the
      leading producer in the BB&T system. But it will make a
      more positive contribution than the postings of
      Tush_Push would indicate and BB&T will probably not regret
      purchasing it.

      As for you Tush_Push, I generally
      refrain from responding to posts on message boards or
      from characterizing posters. But based on your
      comments, your sources of information, and your seeming
      familiarity with Matewan, you strike me as one with an axe to
      grind with Matewan. Look at the bright side, as one of
      the posters to this board opined, BB&T bought it

    •'re on to something here. Most
      commercial banks use the so-called rule of thumb that "80%
      of the profits come from 20% of the customers". You
      imply that it is the "upscale" customers that are the
      most profitable, and you are correct. As to the
      lower-end customers [i.e., PLanigan's W.V "hippy"], all the
      credit card companies want them now because they can be
      gouged for the highest interest rates. Further, when
      they buy automobiles, they usually obtain their
      financing at the dealer, not at the bank. Things they DON'T
      do include setting up wills and trusts, purchasing
      securities, and leaving much in the way of deposit balances
      in the bank. Which brings to mind a couple
      questions: does Matewan offer a credit card, and does
      Matewan offer dealer financing ?

      If we assume that
      Matewan's management knows its unique market well, what is
      it that BBT can bring to the table there that can
      cause Matewan's profits to increase ? Please......don't
      say "a higher legal lending limit", because there are
      no borrowers in that market that require that level
      of funding.

    • you seem to be be. But from what I've seen in and
      around such places as Greenville SC, Gatlinburg TN,
      Asheville and Hendersonville and other areas in NC, I'll
      say that Appalachia is changing: outsiders are moving
      in, money is flowing into the area, much of it from
      Florida. Maybe West Virginia hasn't seen much of that yet,
      but give it time. The upscale retirement homes, the
      golf courses, the yuppies who like their rustic
      retreats from where they can still access the net, and the
      services they nonetheless expect "out there," all will
      come. Around the U.S.A., there's a definite demographic
      trend of the highly skilled, entrepreneurial,
      well-to-do, etc., moving from old urban areas --where they
      may have made their money initially and to which they
      will still return frequently-- to greener pastures.
      And the technology, the new mobility and booming
      economy (for some), is making this possible as never
      before. Maybe you haven't noticed. But how's the road
      construction in your area? Have you noticed an increase of
      SUVs with out-of-state licence plates, driven by
      "hippie" types who are far from Planigan's "hippies" in
      their education levels and income?

    • from what I hear and read, it is indeed the
      "well-off types," such as Dr.JunJun probably, from whom
      banks derive more profit than from that imagined hippy
      of yours, Planigan. Let's suppose, and it is a very
      reasonable assumption, that Dr. JunJun has his stock and
      other investments at BB&T: what do you think they do
      with that? Just let it sit there, without breeding it?
      They loan it out! All the statistics I've seen
      indicate that the more money, in its various forms, a
      client has with a bank --the better, more profitable for
      the bank. That hippy of yours with all his debts
      requires a lot of paperwork, and that can cost plenty. And
      the banks tell you this when they offer so many
      "perks" to those with fat deposits in various forms ...
      Do do think they'd offer these "perks" if there
      isn't something "in it" for them?

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