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BB&T Corporation Message Board

  • attycpa attycpa Jun 1, 1999 9:07 AM Flag

    ASO/FAM

    eom

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    • Mr. Allison, I wish you had taken my suggestion a
      few months back and worked a deal with ASO. Now they
      are almost as big as our beloved (?) BBT! Oh well.
      Maybe this is the push you need to gobble up FVB, FMN,
      or OV. Too bad FirstAmerican is gone cause it looks
      like ASO picked them up for a good price (accretive
      this year.) Oh well....

      Enough childishness on
      my part. I know the stock has been hammered lately,
      but is that a good reason to sit out? Maybe it is.
      When can you start buying out stock back? Inquiring
      minds want to know?

      Attila, what do you think
      is next for BBT?

      Regards
      (sigh)............

      Stock

      P.S. Yeah, I just re read this and it wasn't very
      cute, but hey! what do you expect when Monday comes on
      a Tuesday. Shoot, I'm retired and even I got
      confused. The question stands though - what next??

      • 2 Replies to Stockboy_II
      • ....Stock, responding to your question, Atilla is
        out of the country at this time, with Hans, but I
        caught up with him at a bar in Kopenhaven Monday night
        and discussed the situation.

        Tush opines that
        it is good that BBT passed up on FAM. Much of FAM's
        asset base is now in Mississippi. Tush says that the
        demographics of the Mississippi market are worse than
        you-know-where north of NC. If BBT REALLY has its heart set on
        Mississippi, which I doubt it has, the largest bank in that
        state is still independent.......Trustmark......and no
        one has visibly shown an interest in it yet. Rumor
        has it that Deposit Guaranty had asked FAM to acquire
        it last year.......DG needed a white knight. No one
        seems to know who had been looking at DG, except
        possibly Hibernia, which recently fell on hard times
        itself and is probably looking for an acquirer as we
        speak.

        Attilla seems to think that BBT is better going toward
        GOOD markets rather than toward marginal markets, and
        should learn from its experience with you-know-who in
        another state. That said, First Virginia would be
        desirable.

        Many of us are wondering why BBT is acquiring so many
        insurance agencies. Many insured's now buy insurance direct
        from the carriers rather than from independent
        agents.

        Tush wants to know if you have seen O.J. around
        recently.

        Thanks
        Judge E. Toe

      • So says ASO but the analysts aren't so sure. FAM has struggled since the Deposit Guar. acq. This could create a $40 billion acq target in a couple of years.

 
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