The Raleigh News and Observer quoted Jim Wells, Vice Chairman of STI as saying today that even if STI loses its bid for WB, they will continue to look for a merger partner to give themselves a presence in the Carolinas.
Who is left?
But underlying your assertions, connor, is that you and everyone else knows that FTU is a 3rd-rate, suede shoe, blue collar bank with a very poor record of earnings, acquisitions, customer service, and so on.
And how many times does a bank get sued by its OWN employees? Ask FTU; they know the answer.
Wel, rdm, the best bank remaining in the Carolinas is BBT, but it ain't for sale. And the Holding family is NOT going to sell First Citizens Bank, I can assure you.
I think STI is now out-of-pocket when it comes to buying a "large" bank in the Carolinas.
You want to know a merger partner with a presence in the Carolinas?
Try Bank of America.
SunTrust merging with BAC has the same money saving impact -- maybe more so -- that the FTU/WB combination has (or "had", to be more current and also accurate).
At the moment, FTU is not a takeover target.
WB will never be a takeover target for anyone at this point.
The only major southeast bank that is a takeover target is SunTrust. By acquiring SunTrust, BAC would be eliminating SunTrust as a possible takeover target, plus cutting costs and solidifying a #1 market position all through the southeast.
After all the negative publicity STI has brought upon itself as a result of the failed hostile takeover (especially in NC!!!)- there is no bank in the Carolinas that would ever consider selling out to STI.
I have refrained from responding/even reading most of the hairbrained comments that this board has resorted too, but I must say that yours make absolutely no sense. In one breath you rate the stock as a sell, yet wax eloquent about how it will rise due to your seeing SunTrust as a takeover target.
Are you smoking crack Ken Thompson? Find another board to populate with your crap. You are now on IGNORE.