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BB&T Corporation Message Board

  • AnteaterJoe AnteaterJoe Apr 22, 1999 2:22 PM Flag

    Ready to bail out.

    After holding and adding to my BBT stock over the
    years, now I see it going nowhere. Ready to put my money
    where it can go further faster. It's been a nice ride,
    but looks like it's time to switch horse.

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    • Perhaps the reason the cannon shot will hit no
      one in those lobbies is that it appears as if those
      banks have strategies in place to encourage the retail
      customers to bank via personal computer, telephone, etc.,
      etc. Say what we wish on this board, but all the banks
      you named in your missile seem to be doing well and
      are not losing massive numbers of customers or, at
      least, are not losing their really profitable customers.
      They are too smart to let that happen. I suspect BBT
      will use the alternate banking channel strategy to
      change the habits of customers in rural VA and WV, and
      thus drive down the per customer cost of servicing a

    • If we told you how many people were using this
      one computer, you might think we lived in a college
      dormitory, or something like that. Think "4" for starters.
      It seems to change daily.

      We like your idea
      for the ad "We have a banker you can meet. Live"!
      Truly creative and revolutionary. I would much preefer
      that a live banker call on me......rather than a
      "Mountain", of all things. Aren't those tv commercials
      obnoxious ?

    • Where I live you can shoot a cannon thru the
      lobby of Nations, Wachovia, First Union, and others and
      not hit a customer. BB&T is a class bank as you said.
      NetBank (NTBK) probably has the best idea on banking on
      the internet. Carolina First (CAFC) gave them their
      seed money and start and still owns 10% of the stock.
      You can run an Internet Bank out of your garage.
      Location, brick, and morter mean nothing any more.

    • showing my age by saying I like walking into the
      solid brick version of a bank. I still like the feel of
      actually, not virtually, going to a place that exists in
      the old-fashioned way. And there's a bit of Dr.
      JunJun in me in that I too enjoy looking at attractive
      tellers and bankers who are there, in the flesh.

      But I also must admit that I too have been going into
      those banks less and less often ... slowly slipping
      into the next century where, as you say, brick and
      mortar branches may indeed go the way of the oxcart.
      Although: have you noticed that horse buggies are making a
      comeback of sorts. Perhaps some years from now a bank will
      try a nostalgic approach by advertising something
      like this: "We have a banker you can meet!

      Also, I am curious: are there two of you speaking as
      one? Or are you, by your choice of name, signaling
      your proud acceptance of your split-personality

    • I wonder if your message about wanting to go to
      "your bank" in Charleston, Savannah, San Francisco, or
      wherever is a reflection of a generational gap. Studies
      that I've read about seem to say that over 50% of bank
      retail customers rarely set foot in a brick and mortar
      branch; they don't want to, there is no need to, and it
      takes to much time, especially since so many banks (but
      not BBT, of course) have reduced their branch office
      staffing and the service is lousy and gets worse. Most
      younger customers, and many older customers, now use just
      ATMs, credit cards, telephones, and personal computers
      to do their banking......and there is thus no need
      for branches. All studies seem to show that branches
      will go the way of the oxcart and crossbow. The banks
      themselves will see to that, also, because branch closures
      can reduce costs.

    • while "nobody knows anything" is true for most of
      us most of the time, it is not true for everybody
      all the time. There are those who do know something
      about some things but aren't talking.

      The new,
      bigger Firstar will, as you say, look to the southeast
      for a partner eventually, as will Bank One, Wells
      Fargo, and others. To me it seems the logic of retail
      banking is to go toward coast-to-coast branches, and I
      rather like the thought of being able to go to "my" bank
      in Charleston, Savannah, D.C., San Francisco . . .

      BBT is a great bank; I'm glad to be both customer and

    • ...those who profess having inside information
      generally don't (just blowing smoke) and those who have it
      are smart enough to know the SEC

      Attended the BB&T annnual meeting in D.C. last week and
      John affirmed again the strategy to pursue
      acquisitions as a line of business in a disciplined manner
      that makes sense for s/h. This management group has
      made over 40 bank & thrift deals over the last 10
      years and the financial performance has earned a
      premium valuation (referred to by an earlier poster) of 4
      X book.

      Also worthy of note is the Firststar
      deal which creates a $78 billion bank which could look
      to the southeast. Wachovia or BB&T should look
      attractive. But I still think John's strategy will continue
      to work and BB&T will be an acquirer not a seller on
      his watch.

      Anyhow, Happy Dividend Day!

    • several "people in the know" (who have on
      occasion been wrong and much surprised by the unexpected)
      say BBT is a takeover target that several of the
      larger banks would love to acquire. And there have been
      many rumors about who is about to do so ... But BBT's
      management has repeatedly expressed a desire to remain
      independent and to grow by acquistion, as they have indeed
      done. As has so often been said (and it's only a slight
      exaggeration): nobody knows anything.

    • It seems like every few weeks I read about BB&T
      buying another smaller bank or broker in a stock swap
      deal. It seems to me that they would right sized and
      positioned for one of the really large banks to target them.
      Any insight??

    • Projected 1999 year end earnings are $1.95 per
      share. Stock has traded between 20 to 24 times trailing
      earnings (except during last years steep correction) and
      thus 24 is possible unless market corrects again. Does
      anyone know how bank reform s being considered by
      Congress will impact the potential for consolidation of
      regional banks?

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