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BB&T Corporation Message Board

  • amywallst amywallst Mar 17, 1999 5:01 PM Flag

    It's me again, Margaret!!!

    I am back...and will not offend anyone this time
    with my post, but I think I have some interesting
    informaion on the Firstar questions.

    To begin, going
    back several years, Citizens Bank was acquired by
    Trans Financial, Trans was acquired by Star Bank about
    a year ago, and now Star Bank has merged with
    Firstar. Citizens, Trans Financial, Star now Firstar has a
    presence in the Pike Co., KY...to be more
    specific...Pikeville, KY and South Williamson, KY. Right in the middle
    of Matewan's KY market. In fact, the Star Bank signs
    just came down over the weekend on the So. Williamson
    bank to reveal...Firstar!!!

    Now, my question. I
    am new to this merger biz so could someone help? It
    only makes sense to me that a company as strong and
    profitable as BB&T who is in the middle of several current
    mergers would not be considered a company ripe for the
    picking in a merger situation. After all, BB&T is the one
    acquiring not being acquired? Just a thought.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • My hide's old and pretty tough, but I appreciate the kind words. Like you, I'm a fan of Dr. JJ - hope he's well and back soon!

    • I like his contributions to this board: they are very informative and helpful. Consider me a BBTFan fan.

    • no inside connection was needed to read it, other than the usual internet connection.

    • I know you say you're not a company shill, but I
      havn't gotten my report either and I live in a post
      office, so did you mean to 10K?

      Inquiring minds
      want to know.

      Regards.........

      Stock (I
      still think you're a shill, but I like shills - except
      for shraide on the CAFC board! - and think you serve
      a true purpose in society. Don't ask me what,
      though, I'm still thinking!)Boy

    • Thanks, I will consult Annual Report upon arrival. You must live next to Post Office. I am still waiting for my copy. EOM

    • in last two posts. I stand by the sense, not the tense of the messages.

    • strategy and accretion/dilution targets are on page 7 of the 1998 Annual Report just received.

    • "amywallst". They are so honest and refreshing.

      Amy, can you send more messages to us ?

    • welcome. It's great to hear from you.

      Help
      the readers out with something. Someone posting to
      this board wants us to believe that Firstar is an
      important factor in W.V. banking because it has a "major"
      presence in Kentucky and sends commercial lenders in to
      W.V. to make loans.

      Although Firstar now has
      its signs on a small bank in Pikeville, isn't
      Firststar really more of a very modest banking presence in
      Kentucky. It's not in Louisville or Lexington, at least to
      any major extent, is it ? Although Firstar is a
      pretty good regional bank, isn't it really small potatos
      in KY ?

      To try to shed some light on your
      question, i think BBT will eventually be acquired. Althoug
      it is good at what it does,and its stock has done
      well, it doesn't have the horsepower to eventually
      compete with the really big guys in its main markets.
      Really, in order to keep going, it has to keep on buying
      banks and insurance agencies.
      I know this thought
      will be attacked by other posters to this board. Let's
      hear it.

      amy......keep on posting babe. You
      know what's cookin'.

      • 3 Replies to Atilla_the_Hunee
      • Firstar, through the old Star Bank, has a pretty
        good presence in the state of Kentucky, including
        major positions in Louisville, Lexington, and Bowling
        Green. They are in eastern part of state too, although
        how much of their total Kentucky presence comes from
        there I don't know.

        They got much of their
        Louisville and Lexington presence through the acquisition of
        Great Financial Bank a few years ago. I don't know how
        big it was, but it was one of the bigger banks in the
        state. In terms of state market share, I don't know what
        Firstar would be today, but based on their two most
        recent Kentucky acquisitions, I would say they are one
        of the bigger banks in the state.

        Hope this
        helps.

      • 1.Can someone explain to this investor the
        concept seen in many merger announcements...."this merger
        is expected to be accretive within the first
        year"

        2.Please explain the concept of dilution and the affect
        paying large premiums for an acquisition may have on
        dilution.

        I may know just enough to be dangerous but would
        prefer to more fully understand these M & A terms.

      • Unrelated and somewhat opposing.

        From what
        I understand, STI buys banks that are outside its
        current markets. BBT does fit that criteria, I am
        ignorant as to what other criteria is being referred in
        their pattern. This is not to say I believe that STI
        will acquire BBT, only that I know a little about
        STI's criteria.

        BBT is focused on the client,
        not the stockholder. They are more interested in
        client value than stockholders getting rich, hence the
        lack of stock options to emloyees (like FTU and BAC
        has). Excellent company to work for and do business
        with, but I do not see them as an aquisition target as
        much as an acquirer of other small banks.

        At a
        time when the big banks are attempting to limit
        contact with the customer (FTU and the Future Bank
        Implementation Project), it appears that BBT is providing more
        personal service to their customer. Their employess seem
        happy and well treated and they pass this on to their
        customers.

    • Hey amywallst, I know what you are talking about.
      You talk about luck. I was with CB,then TRF then STB
      and then again FSR. I couldn't take the way FSR
      treated their employees and there CUSTOMERS!!! So I got
      out as fast as I could. Guess what now.....Believe it
      or not I went to MATE, then guess what I am now with
      the soon to be BBT. I've worked under so many
      different names in the last five years that I really don't
      know who I work for any more....Ha,Ha!
      Now I can't
      believe this rumor about Firstar and BBT. OH
      NOOOOOOOOOOO!!!!! This is a nightmare. I sure hope that I don't end
      up back with them again!!!!!!!
      FSR may not be a
      good Co. to work for, but I sure can't complain about
      their STOCK!!!!
      Now that's made me
      HAPPY!!!!

      Pleaseeeeeeee Not again.........Hush, you all quit talking like
      that, I make me nervous!!!!!!

      "Everybody's
      Employee"

 
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