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BB&T Corporation Message Board

  • jjflojack jjflojack Mar 14, 2013 8:06 AM Flag

    Capital City Banking Group (Tallahassee)

    Any thoughts on possible acquisition of CCBG? I was surprised to learn that it is the largest FL-based financial institution. Pretty much old-line, family controlled operation that seems to have lost its way (and its ID as the "home town bank"). Has about 70 or so branches in Big Bend & other areas of N. FL (and a few in nearby AL & GA). I think that it would be very attractive to a Hancock, or even Toronto Dominion (where it would plug a gaping hole). Maybe even BBT, given CCBG's decent trust business. Meanwhile, "someone" seems intent on "managing" the share price to maintain about $12 a share; about 10% of shares are sold short. Ordinarily, not huge, but 50,000 shares traded is a big day (their are days that it doesn't even trade 5000), so any significant buying pressure could make the price explode. Yahoo says $14.50 book value; I don't know if it still holds, but 1.5 times book was frequently used metric for valuing such buyout candidates. Thoughts? Thanks.

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