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BB&T Corporation Message Board

  • Virginia_Tech_MBA Virginia_Tech_MBA Jul 22, 1999 10:57 PM Flag


    purchased Main Street Bank which had several
    branches in Lynchburg, VA. In the process BB&T has lost a
    good chunk of Main Street's customers to banks such as
    First Virginia, One Valley, and Central National.

    The reason- The company I work for owns, among other
    commercial property, ten convience stores and two hotels.
    BB&T started charging for change, something the other
    local banks have never done, and BB&T has sent notices
    out that they will charge fees for checking

    Since most of the employees also obtain car loans and
    home loans from the same bank, it seems stupid to
    drive off this business.

    We have moved our
    account, and it is not a small one either.

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    • The only good thing about EBSI is its size. With a .82% ROA (around .66% excluding RE) too bad they can't do anything with it.

    • Anyone herd about the buyout of FVB?Whats the latest on this nice little bank????Rumors were that we were almost ready to make a annoucment.What happen???

    • >>>>> EBSI Looks like a good acquisition candidate. Metro Atlanta, over a billion in assets. Revs up ......

    • Several sources in Georgia say BBT is rumored to
      be interested in Synovus Financial. Would be a great
      fit and give BBT a big market share in GA., along
      with better market share in SC, some in Alabama and
      North Florida. Also, SNV is strong in credit cards with
      TSS and electronic commerce software. Allison and
      Blanchard think a lot alike.


    • I hear you and don't disagree too much. I do
      think that my point on how long it has been since an
      economic downturn is a valid one, however. And remember,
      BBT is much, much bigger and more diverse now (i.e.,
      in the last 5 years) than it was for the 15 years
      preceeding that. I'm not trying to say the glass is half
      full, I'm just pointing out that this may be looked at
      as a somewhat new challenge.

      I'm still long
      BBT, But I will probably bolt if ecomomy tanks or we
      reachs 40's again. At least I will take some profits if
      4o's again. Hey - what do I know -I'm just having fun
      with this stuff! I ain't no stinking day

      Anyway - I think we agree somewhat. At least that's a



      P.S. We all know you're really John Allison. Fess

    • I'm nearly 68 (age not golf score), proud of it, and only work for (in order of importance) my grandchildren (6 of'em), the local economy, and the U.S.Gov't. EOM

    • truth, the readers and the nature of this medium
      where you really don't know who your're talking to, the
      facts I post come from an accumulation of public
      information, annual reports, quarterly reports and 10q's &
      10k's from the net. I try to differentiate and identify
      my opinions as such for the same reason. Our
      difference (from reviewing our posts) seems to be that I
      come from the school of "the glass is half full". No
      apologies. Particularly when supported by historical
      performance. By the same token, some people are more skeptical
      than others which is fine.

      For example, the
      issue of loan quality; over the last 20 years through
      up and down rate and economic cycles, It's been
      reported in annual meetings and other places that BB&T's
      loan charge-offs & past dues have consistently been
      1/3 to 1/2 the peer group average. What's the reason?
      As a s/h, I'm comforted to know the same senior loan
      staff has been in the bank during this period; as a
      small business lender they make a lot of loans, but
      don't take a lot of large risks i.e. out of market or
      international; the portfolio is increasingly differentiated by
      expansion into new markets where small business lending is
      pretty much the same as in traditional markets. They
      have a very disciplined review process and key senior
      mgt. grew up thru the lending function.

      all this mean loan losses aren't tied to the economic
      cycle? - Nope, it doesn't, losses typically follow the
      But, in a down cycle, my money is on the track record
      (below peer group loan problems) which from my
      perspective looks good. When times get tough, investors
      differentiate performance. My opinion: I like high performing
      (over the long term) banks who stick to their

      I sleep good at night but I understand and respect
      fast track investors who want more action and quicker
      turns on their money.


    • operate on the local level? What is the credit
      process, etc? Anybody know? Regards FTU....middle
      management is so weak and politics, not rational business
      sense, rules. Aside from pure size, I don't think it
      will survive....

    • You're right, of course. Any incentive program
      can give you lousey results when targets change. That
      same incentive program is giving us the results we
      like now, though. Let's hope that BBT changes the
      targets when the appropriate time comes.

      As for
      the Capital Markets stuff - maybe we should be glad
      that BBT has been late getting in it. I doubt many of
      BBT's current customer base are really into swaps, etc.
      anyway, even though I understand this kind of stuff is
      moving "down market" - (I think I said that right).

      Anyway, your points are on target. Time will



    • You make excellent points. I will attempt to add
      two more to merely supplement yours.

      banks have added incentive compensation programs, and
      put them in place SUBSEQUENT to the last big economic
      down-cycle. That means that individual loan officers have
      been paid money to book more loans, and probably some
      of them are of a questionable nature. Some of those
      loans will come home to roost in the next economic has already begun to some degree at First Union
      and Hibernia in New Orleans.

      Also, SUBSEQUENT
      to the last big economic down-cycle, let's not
      forget all the so-called capital markets voodoo that
      many banks have put on. Interest rate swaps, caps,
      floors, teflon skidoos, which-shell-is-the-pea-under
      stuff. To read the info put out by the banks, THEIR bank
      will be a WINNER if the economy tanks. There will be
      no loosers. Sounds like a free lunch to
      me........and we all know what they taste like.

      lunch, anyone?

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