Norm wrote the following: "John Allison made a presentation in 2006 showing that bbt's roe in 2006 on their tangible book value was around 28%. At the end of this year bbt's tbv should be close to $17/share. 28% times $17 share = $4.76/share"
I see where you did indeed specify tangible book value not book value which most people more commonly use. I was wrong. Are you fairly sure of the $17 figure as Forbes only shows a $13.81 tangible value as of 6/2011? Hope your figure is accurate.