left headquartered in FLA ia BankAtlantic (BBX) which has about $4.4 billion in assets. BBT might like to take them out, but certainly not the other way around.
For what its worth, I can't stop watching BBX. Great branch system, huge ATM system. Stock has gotten absolutely killed in 1999. Down under $4 from around $9. Again, its the largest franchise left in FLA. Anyone else buying this up?
Never mind that the franchise value cannot be lowered by unclever management. Surely all the boneheaded investments by execs must surely spell doom to these 67 prime Florida branches and 200+ store-front ATMs. No tangible book value there. No way. ;) BBX BBX BBX
I admit BBX looks interesting, good fundamentals. I would buy it but spent all my extra cash on BBT's new low price. I still dont understand why BBT is not interested in Florida. I guess they realize the top 5 or 6 market positions are locked up, so they dont want it. However, I think Florida is still a hot market. If BB&T ever does a merger of equal, I hope it's with someone with a Florida presence, Southtrust perhaps would make a good partner.