accounted for the blocks. BB&T has about 20%
institutional ownership compared to 50%-60% for peer group.
This should mean good buying interest for foreseable
As to STI speculation, it would be a change of their
pattern (see post #1025), but could be done at a nice
premium, however unlikely.
While it is true that the HQ of FSR is in
Milwaukee, by looking at who got the top jobs that STB
acquired FSR. And, as Amy notes, FSR has a significant
presence in eastern KY.
From the standpoint of
culture, FSR and BBT would be a great fit. It would be a
true MOE (Merger of Equals). The big issue, as always,
is who would run it. Also, I think that G-man, FSR's
CEO, is looking more to the midwest and west for his
Anything's possible. But I
dont think this combo is too likely at the moment. Too
bad, they would fit well together.
I don't think it matters that Firstar is hdqtr'd
in Milwaukee. Firstar has a major presence in
Kentucky. There's enough business for them in WV to send
account executives there on a regular basis to service
existing accounts and call on new companies. They do a lot
of equipment financing, for one thing, and not just
for the coal industry. Also, since ONE is all over
the Charleston - Huntington area, the three banks you
mention are hardly needed for their loan limits. HBAN
also is statewide. The big attraction in WV is retail
accounts and their balances.
A modest modification to your post.........but
Firstar Corporation claims, by its own admission, to be
headquartered in Milwaukee...........yes,...it did merge with
Star Bank in Cincinnati, in late 1998......But, head
office of the combined banks is still in
Milwaukee.....Isn't Cincinnati a long way, over the road, from
Williamson, WV ? ........I'm really curious....what
"commercial business" is there in WV that would be attractive
to a Milwaukee/Cincinnati bank ?.......I've heard
that Mellon, PNC, and Wachovia have most of the
commercial business that is too large for the WV banks to