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  • DoctorJunJun DoctorJunJun Jun 24, 1998 8:08 PM Flag

    Virginia Resignation


    Interesting posts. Enjoyed

    I disagree on one front, and thats BBK is
    definately a growth bank. There saying is "if we ain't
    growing, we ain't surviving." They got a whole group that
    does nothing but acquisitions. I still hold hope that
    they move bigger into Virginia and Maryland over the
    next few months.

    I still say they offer the
    public a great product with superior service (BBT has a
    very loyal following). I also don't see 70 by the
    split date in July, but mark my word, after the split,
    this one continues major growth!

    Its sad, but
    I'll bet the big boys have been salivating over this
    bank. How long can Allison hold out?

    Dr. JunJun

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Which big boys are salivating do you

      I've heard from three sources that BBT, ASO are both
      bidding for FATN. Who, by the way, just sucked up 5 small
      banks in TN in just 2 months. Their ripe for the
      picking. I think the stretch toward MD may not be the
      case. Go west young man.

      • 1 Reply to mknmny30
      • I think that the chances of BBK buying someone
        else is very high. But - They must strike now while
        stock is high (maybe I was hasty in predicting that it
        would not reach $70, but I don't think so unless market
        in general goes nuts). They (and others) have
        significant pressure on earnings - many mergers, Y2K, slowing
        loan growth, etc. I do think that the "talent" they
        may be losing is not the heads of the banks/S&L's
        they are buying. These former exec.s don't know
        today's banking (that's why they had to sell!) and they
        are very expensive to keep around. Better to pension
        off for big bucks that then are finite and buried in
        the goodwill of the merger. The real cost is in their
        slow reactions and BBK can not afford that now. These
        are good guys (Aston was really good guy), but not
        the right guys! Finally, will Allison allow another
        really good, up to date banker into his mgt. team?? He
        hasn't so far - the power still resides with long time
        BB&T'ers. That's not the end of the world, but they have
        limited experience in running an operation the size BBK
        has become - and it shows. Keep an eye on the next
        quarter's efficiency ratio. It may tell what's coming. I
        bet it isn't any better and that will have a negative
        impact on the stock!

        Finally, they have lost some
        strong middle management bankers recently. Aston and
        Morgan don't count because of their large salaries and
        rain makers status. These sre folks that have grown up
        at BBK. Not many (any?) SNB folks left. Why?? These
        were the folks in the trenches doing deals, adding
        accounts, and selling fee services.

        Better to
        confuse the issue with a merger now - come on John - go
        for a merger of equals. Stock splits are nice and
        dividend increases are real, but I want to see BBK soar.
        Do something!

38.50+0.17(+0.44%)Aug 31 4:03 PMEDT